So where is a newer ‘bank repo’ listed for sale? At the dealership?

I just bought a used vehicle, sales person said that sales had slow down significantly. They dropped $1000 off the price of the vehicle without me even asking and included delivery.

I believe it was here in the forum where someone said the large dealerships have been laying sales people off. Right now is the time to buy if you are in the financial position to do so. I believe that would apply to cars, stocks and maybe even homes. I work in the new home business and we are not stopping work until the county shuts us down. But I don’t think they will because the new home building market is such a huge part of the economy here in Central Florida. The theme parks, I think they figured people weren’t going to travel from out of town anyway and there wasn’t enough local visitors to keep them open. Plus we work outdoors spread out so it’s not like we are jammed next to each other.

I’m also curious as to where dealers sell their repos. Do they go to auction?

Years ago, the credit union I was a member of would list their repo's on their web site. It was a small credit union to the town I lived in at the time. Not sure if they still do that or where the larger credit unions/banks list theirs these days.

Of course I bought my wife a used Infiniti QX-80 at the beginning of February. Oh well.

With the glut of 0% financing on new vehicles, my bet is that used vehicle prices are going to crater over the next 30 days. If you are in the market for a used vehicle, I would think you are going to be able to name your price.

I just received an email from Sarasota Ford that says save up to $15k off MSRP or get 0% for 84 months on 2019 vehicles. I guess that explains my Explorer ST issue as it's new for 2020.

quote:

Originally posted by holdem:
Of course I bought my wife a used Infiniti QX-80 at the beginning of February. Oh well.

With the glut of 0% financing on new vehicles, my bet is that used vehicle prices are going to crater over the next 30 days. If you are in the market for a used vehicle, I would think you are going to be able to name your price.

No Sir, this is tax season. The leaches of society are about to get their EIC and tax credit (welfare) for their six kids. Throw in some stimulus money and they might be getting over $10,000. Some of the finance companies will finance you if you can fog a mirror with a decent down payment

quote:

Originally posted by trapper189:
I just received an email from Sarasota Ford that says save up to $15k off MSRP or get 0% for 84 months on 2019 vehicles. I guess that explains my Explorer ST issue as it's new for 2020.

What is funny about those kinds of 0% offers (scams), is that you would almost have to be a complete idiot to take the 0% financing. If you paid 45 grand (MSRP) for an F150 with 0% financing for 84 months, your payment is $536/mo and obviously your cost to finance is zero. Now, if you took the offers which equate to around $10,000 off MSRP, paid $35,000 for that same F150, and financed at 1.9% for 60 months, your finance cost would only be roughly $1,700 with a payment of $612/mo. So for just $76 extra a month, you are saving $8,300 and shaving two years off the length of the loan.

To make it even worse, when you drive that $45,000 F-150 off the lot, it's instantly worth around $35,000 - $37,000 so you are waaaay upside down in the loan and will be for at least 3 years of that loan.

And then they try to sell it like it's something special - "Only well qualified buyers will receive 0%!" God I hate dealers.

Too early to get any real bargains now.
If there is any way, wait at least three months and there will be some much better new and used deals.
Remember, vehicles are not any sort of investment, just a necessity. Most people can make a major impact on their finances if they buy using math skills and not their passion.
Going car shopping when you are excited is like going into the grocery store hungry. Anyone buying with 84 month financing is buying something they really can't afford.

quote:

Originally posted by BigSwede:

quote:

Originally posted by holdem:
Of course I bought my wife a used Infiniti QX-80 at the beginning of February. Oh well.

With the glut of 0% financing on new vehicles, my bet is that used vehicle prices are going to crater over the next 30 days. If you are in the market for a used vehicle, I would think you are going to be able to name your price.

No Sir, this is tax season. The leaches of society are about to get their EIC and tax credit (welfare) for their six kids. Throw in some stimulus money and they might be getting over $10,000. Some of the finance companies will finance you if you can fog a mirror with a decent down payment

Well, I guess maybe it depends on the used car. The under $10K, under $15K market, maybe that will not budge.

But cars like my wife's $35K QX-80, there is no way that type of vehicle holds the value that it had on February 1st.

Those '20 Silverado deals look really good. I don't need it, but the deals are calling my name getting harder and harder to resist.

quote:

Originally posted by PowerSurge:
Next gen Tundra will be the V6 Twin Turbo or V6 Twin Turbo/hybrid configuration.

Which might be a really good thing given how good some of Toyota's past V6's have been. Ford's Eco-Boost has been a huge boon to F-150 sales, and delivers good fuel economy compared to the 5.0L V8 it basically replaced. One of the biggest deficiencies of the current Tundra is fuel economy.

I bought a new Chevy 1500 Z71 back in 2018. I really wanted a Tundra but a comparably equipped one was about 4k more than the Chevy. I just couldn't justify that much more. They're great Trucks but Toyota will never offer the incentives that the big 3 will.

quote:

Originally posted by Edmond:
I’m also curious as to where dealers sell their repos. Do they go to auction?

Totally depends on the particular vehicle. Many do go through the auction though.

quote:

Originally posted by bigdeal:

quote:

Originally posted by PowerSurge:
Next gen Tundra will be the V6 Twin Turbo or V6 Twin Turbo/hybrid configuration.

Which might be a really good thing given how good some of Toyota's past V6's have been. Ford's Eco-Boost has been a huge boon to F-150 sales, and delivers good fuel economy compared to the 5.0L V8 it basically replaced. One of the biggest deficiencies of the current Tundra is fuel economy.

The Ford Ecoboost replaced the 5.4 3V. The 5.0 is the current V8 in the F-150 lineup. Ford had a lot of problems with the Ecoboost Gen1 but appears they’ve finally got those sorted out. I used to be a Ford Truck man until my Tundras, so I’ll give up a little fuel mileage in the 5.7 in exchange for durability.

quote:

Originally posted by PowerSurge:

quote:

Originally posted by bigdeal:

quote:

Originally posted by PowerSurge:
Next gen Tundra will be the V6 Twin Turbo or V6 Twin Turbo/hybrid configuration.

Which might be a really good thing given how good some of Toyota's past V6's have been. Ford's Eco-Boost has been a huge boon to F-150 sales, and delivers good fuel economy compared to the 5.0L V8 it basically replaced. One of the biggest deficiencies of the current Tundra is fuel economy.

The Ford Ecoboost replaced the 5.4 3V. The 5.0 is the current V8 in the F-150 lineup. Ford had a lot of problems with the Ecoboost Gen1 but appears they’ve finally got those sorted out. I used to be a Ford Truck man until my Tundras, so I’ll give up a little fuel mileage in the 5.7 in exchange for durability.

I have the 3.5L Ecoboost in my Expedition. While I do like the motor and the power if the V8 was an option or I was buying an F150 I would go with the V8.

The real world gas mileage is that as good as advertised. None of the Ecoboosts are.

I worry about the turbos longevity (granted I have a lifetime power train warranty). There is also just something about the throaty rumble of a V8. These Ecoboosts sound like complete and utter garbage anytime the muffler is changed.
One of the best way to make more easy power with these motors is opening up the intake and exhaust. If it were a race truck the sound does not matter but driving around all the time sounding like a giant wet fart is not worth the power.

I was disappointed to see Toyota going to the turbo 6 as well.

I've been going back and forth between a RAM 1500/2500 or Ford 150/250 for a few months now.

Was planning to do test drives at the end of March but that went out the window with the virus lockdown.

Purpose would be to pull a 7500lb travel trailer. The half ton trucks are technically capable and easier to deal with as a daily driver. The 3/4 tons would pull it like it's not even there, but are more expensive, harder to park, maneuver in traffic, and suck down fuel. Never owned a truck before so all of my knowledge is just Internet research and friends' opinions.

While researching, I found the various car and truck forums have great threads going about what people get in their negotiated deals. Whatever vehicle you're getting, go find the largest Internet forum for that vehicle and you'll almost certainly find good info to save yourself money and how far you should be able to push your dealer on price and/or financing.

quote:

Originally posted by PowerSurge:
If I didn’t already have one I’d be shopping for a new Tundra right now. They wear like Iron.

As do Taco's. I bought a 2004 Taco in 2009 that had 15k miles on it. It's my daily and it now has over 300k. All I've done is the basic maintenance. Had to have the struts and shocks replaced a couple years ago. Engine is as strong as ever. I get one or two offers a year.

quote:

Originally posted by Wino:
I've been going back and forth between a RAM 1500/2500 or Ford 150/250 for a few months now.

Was planning to do test drives at the end of March but that went out the window with the virus lockdown.

Would be curious to see which you preferred after you test drive both. When I test drove them, the RAM was the clear winner on virtually every level. And that from a guy who's driven a Ford F-150 for the past 20 years.

quote:

Originally posted by Wino:
I've been going back and forth between a RAM 1500/2500 or Ford 150/250 for a few months now.

Was planning to do test drives at the end of March but that went out the window with the virus lockdown.

Purpose would be to pull a 7500lb travel trailer. The half ton trucks are technically capable and easier to deal with as a daily driver. The 3/4 tons would pull it like it's not even there, but are more expensive, harder to park, maneuver in traffic, and suck down fuel. Never owned a truck before so all of my knowledge is just Internet research and friends' opinions.

I would get a 3/4 ton for your purpose. I have both an F150 and F250. When I tow my equipment, which weighs between 6,500 and 8,000 pounds, the F150 gets jerked around more due to it being lighter. If you ever have to do an evasive maneuver, you will appreciate having a more robust tow vehicle. The F150 actually pulls better because it has the 3.5 Ecoboost and it stops adequately because the trailer has its own brakes. However, I have experienced trailer brake failures due to connection issues. The F250 definitely stops better in that situation.

quote:

Originally posted by PowerSurge:

quote:

Originally posted by bigdeal:

quote:

Originally posted by PowerSurge:
Next gen Tundra will be the V6 Twin Turbo or V6 Twin Turbo/hybrid configuration.

Which might be a really good thing given how good some of Toyota's past V6's have been. Ford's Eco-Boost has been a huge boon to F-150 sales, and delivers good fuel economy compared to the 5.0L V8 it basically replaced. One of the biggest deficiencies of the current Tundra is fuel economy.

The Ford Ecoboost replaced the 5.4 3V. The 5.0 is the current V8 in the F-150 lineup. Ford had a lot of problems with the Ecoboost Gen1 but appears they’ve finally got those sorted out. I used to be a Ford Truck man until my Tundras, so I’ll give up a little fuel mileage in the 5.7 in exchange for durability.

My last Expedition 2008, had the 5.4 3V and it was a dog and gas mileage wasn't great either 14-15 around town 19 highway. I replaced it with a new 2018 expedition ecoboost. The ecoboost has twice the power/torque of the 5.4 and drives much livelier with the 10 speed auto. I average over 17 mpg around town and 22 mpg on cruise control at 80 mph...….

My friends have Tundras and like them. But to me the interior looks very dated in the ones I've been in and they all get horrible gas mileage.....A friend was telling me 13 mpg around town.....

Anyways, I too would prefer an F250 if I was regularly pulling a 7500 lb travel trailer and a long bed or crew cab short bed. An F 150 will pull it just fine, BUT you'll really notice the difference in an F250 in a cross wind......or stopping.