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[toldozer]

We are now up over 5k in money back from trading our cars in on top of my wife rolling 6k worth of equity into the new traverse.

 

So in all, I upgraded from a sedan to a compact suv. My wife got the color traverse she wanted,  we lowered car payments 80 bucks a month, we lowered insurance 12 bucks a month and we put over 5000 dollars back in the bank.  

[Greatman77]

I got laid off in January after three decades with my company. They gave me a nice severance package and I quickly found another job, so I thought about buying a new Corvette. Oh. My. God. They "supposedly" start at ~$60k MSRP. Every 2020 or 2021 Vette I have seen for sale, new or used, is going for sticker + $30k to $40k. Let me know when you find one for sale for less than about $100k.

Edited August 9, 2021 by Greatman77

[PanthersATL]

9 minutes ago, Greatman77 said:

thought about buying a new Corvette. Oh. My. God. They "supposedly" start at ~$60k MSRP. Every 2020 or 2021 Vette I have seen for sale, new or used, is going for sticker + $30k to $40k. 

yup, been that way for at least a year+ now. Corvette fans are rabid about their vehicles (buddy of mine is in a corvette club)

you might want to check your local corvette club to see what's avail from them as they upgrade, or they may have a "preferred dealer" who can put you on a waiting list for a decent priced model.

[Hugor Hill]

Crossroads Ford is notorious for overpricing their vehicles. or as they like to call it, "market value". When the new Rangers came out, they were overpricing on those things to something like $10K over....for a Ranger. And dont get me started on the mustangs they over charge on. I cant imagine what they are going to do when the Bronco starts rolling out to the dealer lots. Prob $100,000 for a base Bronco.

 

TL:DR: Stay away from Crossroads lots unless you like to over pay for a vehicle. Esp the one in Kernersville. They think they can ask for $25k more for just adding wheels and a lift kit on a F150.

 

 

[LinvilleGorge]

25 minutes ago, Hugor Hill said:

 They think they can ask for $25k more for just adding wheels and a lift kit on a F150.

 

 

The sad thing is that they probably can. Hard to get an 84 month note on wheels and a lift unless it's coming from the dealership. People are dumb.

 

[PanthersATL]

33 minutes ago, LinvilleGorge said:

Hard to get an 84 month note on wheels and a lift unless it's coming from the dealership. People are dumb.

Don't use the "monthly payment" value as a discussion point when negotiating. 

Nobody should be getting a 7 year car loan anyway, new or used. 

Five years max, and pay it off in three/four.

https://www.npr.org/2019/10/31/773409100/the-7-year-car-loan-watch-your-wallet 

[t96]

4 hours ago, Greatman77 said:

I got laid off in January after three decades with my company. They gave me a nice severance package and I quickly found another job, so I thought about buying a new Corvette. Oh. My. God. They "supposedly" start at ~$60k MSRP. Every 2020 or 2021 Vette I have seen for sale, new or used, is going for sticker + $30k to $40k. Let me know when you find one for sale for less than about $100k.

I've thought about that too as the new Vette is easily the best bang for your buck "supercar" out there, but not quite ready to seriously consider a fun car like that so didn't look too closely into it and figured this market would suck for those too, so that's not surprising... Could you put an order in for a '22 and get sticker price?

[t96]

2 hours ago, PanthersATL said:

Don't use the "monthly payment" value as a discussion point when negotiating. 

Nobody should be getting a 7 year car loan anyway, new or used. 

Five years max, and pay it off in three/four.

https://www.npr.org/2019/10/31/773409100/the-7-year-car-loan-watch-your-wallet 

People are stupid and often spend more than they can afford. What @LinvilleGorge was getting at is that the idiots paying for something like that are the ones who need to finance their mods and wouldn't be able to afford adding a lift/wheels to a stock truck without the financing through the dealer.

[Greatman77]

3 hours ago, t96 said:

I've thought about that too as the new Vette is easily the best bang for your buck "supercar" out there, but not quite ready to seriously consider a fun car like that so didn't look too closely into it and figured this market would suck for those too, so that's not surprising... Could you put an order in for a '22 and get sticker price?

Great question - I know they're sold out for the rest of 2021 and into 2022, not sure when it would actually be available if I ordered today. After losing my long-term job though, not sure if I want to wait that long. Thinking about buying an older one for a lot less $$.

[Ja Rhule]

9 hours ago, PanthersATL said:

Don't use the "monthly payment" value as a discussion point when negotiating. 

Nobody should be getting a 7 year car loan anyway, new or used. 

Five years max, and pay it off in three/four.

https://www.npr.org/2019/10/31/773409100/the-7-year-car-loan-watch-your-wallet 

I would get it if interest free.

[PanthersATL]

10 hours ago, Ja Rhule said:

I would get it if interest free.

Recent car purchase, we got a better price by going with dealer financing vs paying cash outright -- paid it off with the first monthly payment (was minimal interest, so worst case it would have cost.... let's say... $50 interest......   which wasn't outrageous and still lower than going without financing).

Not all car financing will support fee-free early pay-offs, so check that is an option for you before being surprised with some sort of unexpected fee.

Funny thing is that here we are one month after final payment, dealer financing *finally* sent postal mail to say "here's what you can expect with your new car/financing/warranty/etc...)

[LinvilleGorge]

People who think you can get a better deal with cash don't understand how car dealerships work. They generate a lot of their profit off of the financing piece and add ons after the deal on the car has been agreed upon.

[PanthersATL]

44 minutes ago, LinvilleGorge said:

People who think you can get a better deal with cash don't understand how car dealerships work. They generate a lot of their profit off of the financing piece and add ons after the deal on the car has been agreed upon.

One warning sign that legit car dealerships look at is how much cash are people looking to put down. If it's $10k or more, then they have to fill out "the form" (IRS form 8300).  It's one indicator of potential money laundering.   Also, if the buyer insists on paying "$9,999" specifically to avoid "the form"

Of course, the dealer could still fill out that form for lower cash payments if something feels shady to them, such as if a buyer comes in every six months to flip their last purchase into a new ride..... or if the buyer doesn't try to do any negotiation for a lower price.

[LinvilleGorge]

The dealership is just going to do the bare minimum of what is required of them by law. At the end of the day, they don't care whether you're getting your money from a good job downtown or slinging coke on the corner. That's law enforcement and the IRS's concern not theirs. They're only going to report to the IRS what is absolutely required of them.