Am I crazy or is this the worst time ever to buy a vehicle?

[Twin_Cam_Turbo]

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It’s going to be funny to see August stuck with so much inventory that they overpaid to get haha

Fuck em, they took that risk along with all the others. I heard Carvanna might collapse entirely.

[ThePenIsMightier]

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Fuck em, they took that risk along with all the others. I heard Carvanna might collapse entirely.

Holy shit! Their stock is up 19% already today. Are people thinking this is a meme stock?!? Time to short.

https://ca.finance.yahoo.com/quote/CVNA/

[jutes]

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Fuck em, they took that risk along with all the others. I heard Carvanna might collapse entirely.

Fuck them and the DDE douchebags.

[BavarianBeast]

Back to selling Mazdas! Ha ha

[you&me]

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That's a market I'm not familiar with, are ultra lux cars doing the same thing? I thought a lot of August cars are consignments?

There's a parting of ways in the high end market, where the genuinely special & rare cars continue to be strong, but the rising tide that lifted the other boats is beginning to recede. Still some strange things going on, like people paying (in the US) $150k+ over for GT3RS allocations, for a car with no production limits, etc.

Thought the same about August - mostly consignments where they've promised the private owner the moon, and then add an astronomical markup

[shakalaka]

I don't understand how they continue to stay in business and how people keep purchasing vehicles from them. Don't they say how much they gouge...just boycott that shit.

[BavarianBeast]

From what I can tell they’ve sold about 7 vehicles over $100k in the last 6 months

[corsvette]

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Is this a supply or demand thing?

Supply is there on the used side and new inventories are coming up somewhat, but demand is way down. Used interest rates are way up, and US buyers aren't hungry for trucks or big SUV's at all. I'm also certain the banks are lending on more realistic ACV's again. So many nice, high end trucks are hitting the market, dealers who bought them 8-9 months ago and didn't sell are now trying desperately to get their money back, problem is that values have tanked a good 15%. Lots of lickings to be taken by dealers coming up. Like Twin Cam said, the newer high end trucks aren't even getting bids at dealer auctions and if they get bids they're $20-25K back of ask.

[shakalaka]

Don't know how much demand is dying down to be honest, Waterloo Ford in Edmonton still wants 20K over msrp on even 2022 Raptors that they have/are incoming and not sold for sure, and Cam Clark Ford wants 10K over for the same. They must still be selling them and demand still there for them to continue gouging.

[redline]

2023s are starting to ship, so these dealers are going to take a bath on these 2022s and if they are stuck on over Msrp that reality is going to be harsh.

[jutes]

Fuck dealerships and their MSRP 'adjustments'. Hope they all go under and we move towards buying directly from manufacturers.

[ThePenIsMightier]

I wasn't gouged because I chose to not purchase a vehicle under these pricing conditions. Those who purchased vehicles were also not gouged because they chose to exchange their currency for the goods at the offered price.

Why must we put an end to this system?

[ExtraSlow]

The only small tweak I'd like to make to the current dealership system is a requirement to provide a quote in writing, and a requirement to honour that written quote without changes or additions.
I don't mind mandatory shit, extra fees, markups or any of that. Just want it transparent and honest.

[bjstare]

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Fuck dealerships and their MSRP 'adjustments'. Hope they all go under and we move towards buying directly from manufacturers.

Preach, comrade. The government should mandate prices for all consumer goods, so everyone has equal opportunity to purchase for a fair price.

[rage2]

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Fuck dealerships and their MSRP 'adjustments'. Hope they all go under and we move towards buying directly from manufacturers.

Wait till you see 2023 msrps.

[jutes]

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Preach, comrade. The government should mandate prices for all consumer goods, so everyone has equal opportunity to purchase for a fair price.

Only if everyone pays their fair share. Canadians want more government intervention, lets give it to them.

[killramos]

This thread is gross

[zechs]

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I don't understand how they continue to stay in business and how people keep purchasing vehicles from them. Don't they say how much they gouge...just boycott that shit.

There are a lot of people in this world that do not shop big purchases.

In fact I'd say it's most people. They walk into the dealership, electronics store, furniture dept and they look at the car/tv/couch and go "yep! That's what I want".

And then they buy it. A pretty stress free way to live, if you hate money.

As for vehicle pricing, MSRP's are up 10% for 2023 for GM and vehicles are being sold missing parts of option packages. Used prices aren't coming down that much in the foreseeable future when new trucks are so expensive and missing important options.

One thing that is occuring is tons of 2 year short term lease trucks are coming onto market that people got when the world ended in 2020. This will see a small price reduction, but not for long.

I'm seeing 300k km 2015-2017 Denalis asking $35k-$45k. The market is nowhere near to dieing down. I don't think the wholesaler/auction market is indicative of what's going on for private sale purchases or new dealer purchases.

[max_boost]

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I wasn't gouged because I chose to not purchase a vehicle under these pricing conditions. Those who purchased vehicles were also not gouged because they chose to exchange their currency for the goods at the offered price.

Why must we put an end to this system?

Lol ya. Capitalism baby. Y’all love this system!! Don’t denigrate it!

[you&me]

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I don't think the wholesaler/auction market is indicative of what's going on for private sale purchases or new dealer purchases.

It cannot be emphasized how wrong you are.

The wholesale/auction market is THE car market. Every. Single. Part. of the car market is driven by the wholesale & auction market. MSRPs on new cars are influenced by this. Finance terms. Residual values, ergo lease payments and incentives. Production decisions, including vehicle type, models and trims. Color palettes... Everything.

I think the thing you're missing about the wholesale market being indicative of the overall (/used) car market is that it's a leading indicator. The major wholesalers - who by the way are the manufacturers, through their finance divisions - and auctions that turn literally billions of dollars a quarter might have a little more market insight than Bob who spent 11 minutes browsing Kijiji before pricing his prized 2014 Denali with 306,000km. Or you.