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Last month, 82% of new-car buyers paid more than sticker price.


hegemony
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Last month, 82% of new-car buyers paid more than sticker price.

 

 

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Mr. Peters initially spent three weeks shopping around San Diego for a new F-150 Lariat pickup, only to encounter extra charges of $5,000 to $8,000 above the suggested retail price. He decided to fly to a dealership in Las Vegas, where he got what is considered a bargain: He paid the sticker price of $73,520.

 

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I honestly don't know the timetable.  But I suspect that when consumers have finally had enough of corporate greed, and the industry's stubborn lack of transparency, then there may be changes.  The sad thing that will probably happen is that the smaller mom/pop stores will be bought out by large corporate entities as is happening now. That will drive prices up due to corporate greed and lack of employee control on a store-by-store basis.

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Had a unique discussion with a local VW dealership the other day...they have a 2021 with a manual tranny that I would have considered leasing for a few years.  Not paying sticker even if it is only $25K...

 

The 24mo residual was 54% and the 30mo was 50%.  Meanwhile, the 2019's were booking at about 75-80% of the MSRP and the 2020's are booking at something closer to 85% locally.  And while 80% residuals are virtually unheard of, the difference between VW financing numbers and the current markets is just a bridge too far...either they are hoping to take advantage of the truly stupid or they realize that the market is about to be flooded within the next two to two and a half years...

 

As the saying goes, there IS a butt for every seat, but at those numbers, it won't be MY butt in THEIR seat.  I don't need another car that badly...

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