If your working or know your job is secure and you need a different car or new one now maybe the best time in decades to buy. My grandson works for an (essential)company and he just bought a new Toyota getting over $5000 in trade for one 11 years old with many problems and interest free for 60 months and many other perks. They are dealing.

What model did he buy? I have been looking at new sequoias but doesn’t to seem many are dealing on them.

Looked at a new Jeep Gladiator and at the same time a Ram 4 door limited. Lots of deals, the Jeep is bit smaller and tougher to get into, the Ram is like a Lexus...

Car sales are depending on internet buys not a lot of walk ons, the dealer I saw needed an appointment which was fine.

FCA is running deep discounts.

0% for 84 months, 3 months no payments
I browse new Wranglers from time to time & they're in the $6-7k off MSRP range right now.

Subaru: 0% for 63 months

I think it's a good time.
My grandson 19 just bought a new
Honda Civic, 1000 down and 6%.
He had zero credit, but stable work history.
The dealer and my grandson did whole deal on their phones. Then the dealer delivered the car to him. Very smooth transaction.

I just bought a 2018 Civic. Dealer delivered from Alabama to Orlando for me. Everything was done over the phone, really simple.

Just be careful that the lure of 0% interest over 84 months doesn't obscure the importance of negotiating on the price of the vehicle.

Give it a couple more months and you'll see some real deals.

Do we have some sense in terms of % off MSRP.

Down, interests rates, terms, $ off MSRP may not be meaningful. What would be more telling is if Toyota / Lexus is dealing more than 15% off MSRP. That's the min bar I target when purchasing.

quote:

Originally posted by RogB:
Just be careful that the lure of 0% interest over 84 months doesn't obscure the importance of negotiating on the price of the vehicle.

Good point, and in many cases you have to give up other cash incentives to get that financing.

Also, be aware that the 'shine' of a new car wears off way faster than the payments at 84 months.

For the last 12-24 months of that loan, you will be making payments on a car that you probably can't wait to get out of, may not run well anymore, and might very well be what you will then consider a beater car. I don't know what that does to a man's psyche, but I'm sure it's not gonna be a great feeling.

Just checked the Honda dealer where I bought my ‘18 Accord.
They are offering 3-5,000 off MSRP to start.

quote:

Originally posted by satch:
...just bought a new Toyota getting over $5000 in trade for one 11 years old with many problems and interest free for 60 months and many other perks.

Please don't get sucked into this. A used vehicle is only worth a certain amount of money. If the dealer is offering thousands more than this value, then they're making it up elsewhere on the deal. This is one of the biggest scams dealers run on unsuspecting buyers.

ROI for new car purchases...

1 - Negotiate new car price. Do 'not' discuss used car trades, financing, or rebates in this step. Keep it simple.
2 - Consider rebates and incentives on new vehicle.
3 - Negotiate any trade value. (Do not re-negotiate amounts in the prior two steps.)
4 - Discuss financing arrangements.

Take each of these steps one at a time, without mixing the others and you should know exactly what kind of deal you're getting.

And to answer the actual question asked, yes this is likely a good time to buy a new car, though if states continue to be locked down due to the Rona, inventories will age and increase and dealers/manufacturers will have to resort to exceptional measures to move inventory. So it might pay to wait a litter longer before pulling the trigger.

quote:

Originally posted by SR025:
What model did he buy? I have been looking at new sequoias but doesn’t to seem many are dealing on them.

. Toyota Camry.

Parked a new F-150 in the drive Saturday. $11,800 off sticker and didn’t abuse me on my trade. I was only casually interested in trading, they made a pretty good argument I guess. Plenty of friends are upgrading early too.

My “essential worker” status needs to stay in effect for a few more years I guess.

Looking at RAV4's at my local dealership and they sure didn't seem like they wanted to deal. But they are the only Toyota dealer within 100 miles and think they have you.

My Lexus lease is ending so I'll probably go to Vegas or Salt Lake to turn it in and get a better deal on a RAV4 there.

I walked out last week without really being very far apart on the price. They haven't even bothered to call and ask if I was still interested.

quote:

Originally posted by TomV: They haven't even bothered to call and ask if I was still interested.

The sales folks of today don’t follow up on critical leads. We bought a car last spring after looking at 4 brands. They don’t seem to care who you are or how to get a hold of you. We also looked at houses in two different markets. Same thing. They want to shoot the shit and not bother with trying to make a sale.

quote:

Originally posted by bigwagon:
Good point, and in many cases you have to give up other cash incentives to get that financing.

We are negotiating on a leftover '19 VW GTi at a local dealership. In order to get the VW 0% financing, it negates a $2,000 rebate. So, the car costs $2k more if you use their financing.
My credit union can finance it at 2.99% for about $1700 over the course of the loan. We'll take the $2k off the price and use our own financing, thankyouverymuch.
We are at roughly 20% off MSRP...and I think there's more room to negotiate.

quote:

Originally posted by VictimNoMore:

quote:

Originally posted by bigwagon:
Good point, and in many cases you have to give up other cash incentives to get that financing.

We are negotiating on a leftover '19 VW GTi at a local dealership. In order to get the VW 0% financing, it negates a $2,000 rebate. So, the car costs $2k more if you use their financing.
My credit union can finance it at 2.99% for about $1700 over the course of the loan. We'll take the $2k off the price and use our own financing, thankyouverymuch.
We are at roughly 20% off MSRP...and I think there's more room to negotiate.

I helped my son negotiate a deal on a 2019 leftover Jetta. We took the 0.9% financing deal and fore went the rebate. Then I re-negotiated the purchase price with the dealer and got an additional $1k off. In the end, I was satisfied with the deal we struck, and my son loves his new car (his first).

Here in yUK all dealerships are closed for business.

You are very lucky that you have an understanding government that allows your car dealers to continue to trade.