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New vehicle deals?

TheAliasTrollTheAliasTroll Posts: 2,765PFN Referee
edited August 3 in Wolfpack Sports
Anybody seeing any sweet deals with the supposed Covid19 hit automakers are taking?  Out of boredom today I requested a quote on a Lincoln Aviator online.. MSRP $64,860 and he would only come down $4,384.  Thought they'd be more flexible but maybe it depends on dealership and the brand.  Just curious what others are seeing.
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Comments

  • Hogw1ldHogw1ld Posts: 217
    Every once in a while I think I want a new pickup.  Then, I look at the price tag and say....nope.
  • TheAliasTrollTheAliasTroll Posts: 2,765PFN Referee
    Hog, yes 60k is more than I'm willing to spend but was just doing experiment to see what they would do.  I figured (probably incorrectly) that maybe the pricier the MSRP the more they'd be able to come down.. I may do another experiment on more reasonable vehicles.
  • TexpackTexpack Posts: 2,628
    Cars sales have soared during this with all of the fear of flying and of taking public transportation. Don’t think the deals will be too prevalent. 
  • RickRick Posts: 2,484PFN Referee
    Used cars might be a good value as Hertz is having to dump cars. 
  • turkeydanceturkeydance Posts: 136
    agree with Tex: cars, trucks, RV's, etc. don't need to discount (especially RVs).
    sales are up across the board.
  • TexpackTexpack Posts: 2,628
    Rick said:
    Used cars might be a good value as Hertz is having to dump cars. 
    Used cars have had a major run as well. The rental agencies might be a good place to look for my retirement car. 
  • Hogw1ldHogw1ld Posts: 217
    Used is where it's at for everything but trucks.  About to buy a '13 Kia, 65K miles, loaded, for $3000 for my 15 y.o.

    I've bought two Ford flexes (13' and a 16') a year old with 12-15 thousand miles for $12-14 K off of new price.

    Trucks are stupid.  Buying a year old you may as well buy a new one.

    I abhor taking a car note.....hence, no new truck.
  • Pack78Pack78 Posts: 437
    I used to live in KS-thought calling trucks 'stupid' would be a hanging offense in the Cornhusker State...
  • TheAliasTrollTheAliasTroll Posts: 2,765PFN Referee
    agree with Tex: cars, trucks, RV's, etc. don't need to discount (especially RVs).
    sales are up across the board.
    Wow that is crazy.. I had no idea.  Housing market is surprisingly (at least to me!) strong as well.  Nobody knows the future but seems like the other shoe is bound to drop at some point.  Large portion of population having problems getting food and paying rent even with the stimulus.
  • Hogw1ldHogw1ld Posts: 217
    edited August 3
    Pack78 said:
    I used to live in KS-thought calling trucks 'stupid' would be a hanging offense in the Cornhusker State...
    Oh, I drive one.  But it's an older one.  I hunt and haul softball equipment all over the state.  I could do it without a truck, but the truck makes the most sense.

    It's just the prices that are stupid, I guess.

    Edit-  I could ask the Mrs. if she'd let the wet dog ride in the back of the flex....that might get me a new pickup!!  Or divorced.
  • TheAliasTrollTheAliasTroll Posts: 2,765PFN Referee
    edited August 3
    Yeah did a little digging myself and seeing car sales basically back to normal.

    According to J.D. Power, new car sales in April were off by 45% compared to 2019. Their research shows that 445,600 fewer new cars were sold in April compared to their sales forecast. Sales recovered some of the lost ground in May, and even more in June. By the second week in July retail sales were only off 4% compared to their pre-virus forecast.
    That really is astounding to me.

  • Fastback68Fastback68 Posts: 863
    Winnebago and Thor Industry stocks are killing it.  The China trade negotiations killed them, then covid drove everything down and now they can’t make enough RVs.
  • PackPACPackPAC Posts: 396
    Boats are same.  I always look at new ones even though I can't afford one.  Dealers at Lake Gaston had almost 0 inventory at the end of June.  The Mastercraft dealer there had 2 2020 boats left in stock at the end of June.  Ya'll think trucks are stupid high (they are), the cheapest new boat this guy had was $90k, therefore I will keep riding my 15 year old Centurion!!  I would have thought boat dealers would really be hurting but sales went nuts.  Everything from jet skis to big wake boats are almost universally sold out.
  • GsoPackBackerGsoPackBacker Posts: 1,073
    PackPac, you are correct that new boat prices make truck prices look cheap.

    Staying at a friend's Smith Mtn Lake house this week since they went to Emerald Isle (bad timing for them) and we've toyed with getting a boat to share.  I quickly decided against that.

    Visiting a friend at the lake and his neighbor has a wakeboard boat that has to be a 125k easily.  I know why they are expensive, but I still don't get it.  
  • Fastback68Fastback68 Posts: 863
    I’ve been trying to track down a fishing kayak. Should get it by the end of September supposedly.  Just in time for the next covidcane.
  • PackPACPackPAC Posts: 396
    Gso $125k is starting for boats like Malibu, Nautique, Centurion and Mastercraft.  Mastercraft has the "budget friendly" NXT series, they start in the $75k range.  And the lakes are full of them!
    Fastback I have a Native Manta Ray 12 set up for fishing, lots of fun.
  • GsoPackBackerGsoPackBacker Posts: 1,073
    Yeah, the prices got out hand pretty quickly. Went to a boat show and chatted with the MasterCraft rep. Even he thought it was a bit silly, but people pay for more automation and aircraft aluminum parts. Hell, the pontoon boats have gone over 100k now as well.
  • Fastback68Fastback68 Posts: 863
    PackPac I’ll google Native Manta Ray.  I prepaid for a Nucanoe Forntier 12.  The electric engine might be ready by Halloween.  I’m on a waiting list for a Pelican power 100.  The Hobie pedal driven designs are interesting but run 4-5k which is way more than a kayak WITH a bow mount motor.  

    Now I’m going to rant about golf carts and ATVS.  Seriously, 5k to 15k.  Seadoo fishing jet ski - 15k.  Sure sign I’m getting old.  Crazy numbers to me.  I read about some dandy wake boarding boat for 300k, wealth symbol or such.  One will probably sink my kayak which I’m calling The Hunley 2.0 by the way.  I’ll be looking for a yankee man o’war from Ohio.
  • choppack1choppack1 Posts: 1,845
    TAT - you missed your window. As soon as they gave out the Trump bucks and PPP, the industry started to re-emerge. People will need cars since no one wants to ride on subway, buses or Ubers for the next few years.

    I recently bought a vehicle. I knew exactly what I would pay, paid cash and what I didn’t want...easy process if you are willing to say no.
  • AdventurooAdventuroo Posts: 2,793
    choppack1 said:
    TAT - you missed your window. As soon as they gave out the Trump bucks and PPP, the industry started to re-emerge. People will need cars since no one wants to ride on subway, buses or Ubers for the next few years.

    I recently bought a vehicle. I knew exactly what I would pay, paid cash and what I didn’t want...easy process if you are willing to say no.
    Chop,

    that is good advice.  Not knocking it....but offer a counter opinion.

    i don’t know where car loans are at now.  I bought my last 2 new cars and actually financed them. The rates were around 1.75 APR.  I could not justify selling any securities and taking the money off the market.  

    NOW....one point to REINFORCE your decision...

    I do a monthly finance close out....sort of like a business doing their P/L at end of month.

    The Vanguard Prime MM account is paying about 1/10 or only 10% of what it did at year end.  I am NOT a hoarder.  I did sell enough stuff to totally fund both our IRA RMD for 2020.  Always do that in December or at least 6 months based on my market crystal ball.

    So I am sitting on more cash than ordinary.  July was my Break Even.  Now net worth same as 12/31/19.  Friends that do the same report that July was their turnaround month.  Most say that their Net Worth peaked to an all time high.

    The OTHER factoid that jumped out....we decided to keep a larger safety net in our “held long” or the taxable side of our investments.  We have used the Vanguard Municipal MMF for years.  It actually, in July, was paying a much better APR than the Prime MMF.  Surprised me.

    Now, those funds were from some quick sales early in the year and a nagging sensation that COVID was gonna hurt the market.  So, I don’t feel bad about having cash.  That kitty will see through NOT having to take the UnNeeded RMD and paying taxes on money we don’t need and would like to keep tax sheltered and growing.

    Bottom Line.  Look at EVERY scenario if you are laying out money for a big ticket item.  If you are invested, then financing might be a bette deal if you have a good, growth portfolio.

    USED is good.  If you negotiate with the business manager when you star to settle up and say WHOA..  I wanted an extended warranty and this is way too much.  I will have to think on it....bingo, you save.

    NOW....let the debate rage.  I get deals on new vehicles I have an insider connection with a major big time car dealer franchise.  But, I wanted a 2014 Yukon in 2016 as the newer models had a major issue since I flat tow.  So, they did not have what I wanted.  CarMax did.  But I bought an extended warranty with my dealer.

    With the amount of electronics on today’s cars, I think that is prudent.  I have had 5 new vehicles or my family has since 2008.  Each one has had repairs DOUBLE what the warranty cost....so we are ahead.  Now, I buy the warranty from my dealer and not the OEM Manufacturer warranty.  

    Maybe I could have doubled the gain in the money I spent.  But, I whose to buy insurance.

    You guys make me feel good,  I bought my GS a car in mid April.   Technically, he paid about half of it as I closed out all his savings and brokerage accounts.  That was when there was 10% traffic at a Mega dealership in Durham.  I thought the price was really low based on NADA and such.  I feel a lot smarter...even though it was dumb luck.

    Hertz WILL impact the used vehicles for a while.  Do you know what the greatest all time off road vehicle is?   Whatever you can rent from Hertz.  YES....they maintain them...but having rented cars at least twice monthly for business and pleasure for over 15 years, they do see a variety of drivers.  Never buy a convertible that came from Maui....the roads are horrible and the suspension is toast....
  • TheAliasTrollTheAliasTroll Posts: 2,765PFN Referee
    choppack1 said:
    TAT - you missed your window. As soon as they gave out the Trump bucks and PPP, the industry started to re-emerge. People will need cars since no one wants to ride on subway, buses or Ubers for the next few years.

    I recently bought a vehicle. I knew exactly what I would pay, paid cash and what I didn’t want...easy process if you are willing to say no.
    Luckily I don't need a new car.  But I did get the fever enough to test the market.

    Now I would say I likely missed the first window.  I think there's a decent chance of a second window in next year or two.
  • RickRick Posts: 2,484PFN Referee
    choppack1 said:
    TAT - you missed your window. As soon as they gave out the Trump bucks and PPP, the industry started to re-emerge. People will need cars since no one wants to ride on subway, buses or Ubers for the next few years.

    I recently bought a vehicle. I knew exactly what I would pay, paid cash and what I didn’t want...easy process if you are willing to say no.
    Luckily I don't need a new car.  But I did get the fever enough to test the market.

    Now I would say I likely missed the first window.  I think there's a decent chance of a second window in next year or two.

    I hope so. I am looking to buy something next spring. My son has his license but he cannot drive to school yet so I am not getting him something until then.  
  • choppack1choppack1 Posts: 1,845
    Roo - I know a lot of people very shrewd financially who finance due to low rates, but the time saved for me in research and paperwork was well worth it. I also do a modified version of the Dave Ramsey plan...have my “emergency fund”, try to pay cash for everything. I am not that shrewd and if I were to finance, it’s more likely that I would spend a little extra.


    TAT - totally agree. Recessions are a good time to buy if you have $$. Unfortunately, we will likely encounter some severe downturns in the future. The “window” for this first go round was brief. But I still get stupid alerts from my last search and seeing some of those prices made me want to throw up.
  • GsoPackBackerGsoPackBacker Posts: 1,073
    choppack1 said:
    Recessions are a good time to buy if you have $$. 
    They are a GREAT time to buy lots of things.  That's if you've put away the money AND are willing to take a risk.

    Note, that has not been my strategy, but have seen others do quite well with it.  Of course, harder to execute, especially early on when when you're not making as much and saving money means doing without things everyone else may consider "basics".

    Trying to preach this to my kids to help them build up their finances earlier on in life.
  • HighstickHighstick Posts: 380PFN Referee
    agree with Tex: cars, trucks, RV's, etc. don't need to discount (especially RVs).
    sales are up across the board.
    My brother in law bought a new RV a week or so ago in Florida.  Drove it back home to Western NC and stopped to fill up.  Thought he was at the diesel nozzle, but it was ethanol free.  About 10 miles later, he "started having a problem".  Duh!

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