There is absolutely no reason to over pay for a new car in today's market. But go ahead if you feel so inclined.

Btw the used market is cooling significantly as well.

Around here, it seems to depend greatly on what brand you're talking about. The Honda and Chevy dealers seem to have a fair number of cars. On the other hand, Toyota and the Korean brands seem to have the fewest.

Speaking of parked vehicles waiting for parts, there is a huge temp lot that was filled with Chevy trucks some months back. Thousands of them. Then maybe a couple months ago, I went by one day and it was completely empty. Went by again this week, and now it's full of trucks again.

SIL up in Wis. just today took delivery on a used 2019 AWD Honda SUV and was bent over the dining room table and the dealer did not use any lube. Her previous vehicle was totaled last week while stopped at a traffic light. She was looking at new till she saw the sticker prices and went used instead. ................................... drill sgt.

Just sold a 5 year old Ford truck for more than I thought it was worth. Just saw it on a Ford car lot and they are asking $6000 more than I paid for it brand new.

This market is nothing all that new.

I bought a new Ram 2500 4x4 in 2005 for a favorable price, sold it 5 years later @ 100,000 miles for $3k less than I paid for it.

That dealer sold it for more than I paid new. 2 years later I saw it on a lot for $2k more than that!

Lost track of it after that.

I recommend using the Costco car purchase plan. Very good rates, at least last year when I bought they were. Way below MSRP prices.

We bought a Toyota Venza in May. One dealer had only black but knew of one in Seattle. They could do a dealer trade and bring it down. We started the paperwork and waited. Then came the excuses. We left. Two days later they called. Said the car was still at the dealership and if we rushed… I hung up.
Another dealership said a carrier was arriving that night and they would call if it had one. “But, you have to rush down.” They called, we rushed, and bought. Finishing the paperwork another salesman started showing our car to another couple!

We just picked up a ‘21 Highlander Hybrid Platinum at MSRP. We ordered it 72 days ago from our local dealer. After 750 miles we are averaging about 39 MPG. Not bad for a 3 row SUV with lots of bells and stuff.

I hope I didn't jinx myself.

Just like ammunition is slowly reappearing on store shelves and online and the price starting to come down, the car situation will ease up. Be patient. The car makers don't like it any more than you.

When does this end?

quote:

Originally posted by TomV:
I've been thinking about trading my leased 2020 RAV4 in for a Highlander. Local dealer has a couple but won't deal. Price starts at MSRP plus a $2k "Competitive Market Markup".

Read that Toyota was cutting global production 40% in September due to parts shortages and COVID.

Also thought about a Hyundai Palisade. Local dealer has a total of 8 new cars on the lot and no Palisades.

The Palisade is selling USED for over 10K over MSRP/ How do I know? I work with Nissan and I am the Midwest Region Certified Preowned consultant. I have been in the business 30 years and in all that time, I have never seen a market like this. The used market will be sky high for probably another year. The new vehicle market is still in trouble as overseas plants making the chips are closed due to the WOO HOO Flu.

If you're military and have USAA membership you can explore their car buying service.

I just read this AM that Ford is raising the prices of all their Super Duty’s by $250 starting next week which may not seem like much but who knows how much the dealers will tack on to that.

quote:

Originally posted by egregore:

I hope I didn't jinx myself.

I hope so to because I have no clue how your post relates to the topic at hand. How is owning a car outright advantageous over a leased car or a car payed for with borrowed funds in today's new and used vehicle market? None of these forms of vehicle ownership force a person to buy a new car right now, do they? Maybe a lease, but don't those let you buy the vehicle at a predetermined price that wouldn't be affected by current prices?

I’ve been following this situation with morbid fascination. To a large extent the “shortage” is self-inflicted. Most manufacturers canceled orders anticipating less demand and a recession. Everything went the opposite direction. The largest source of chips is the Taiwanese semiconductor industry. Despite what the car manufacturers are saying, the Taiwanese are saying normal output will be achieved by the end of the second quarter of 2022!
Coupled with all the other COVID induced hurdles it may actually take longer barring further hurdles. Buying a car is really impacted by geography. I was offered 2k less for my car than I paid for 3 years ago. I also paid under MSRP for it then. Then the dealer took off about 1.8 k from the new one. My trade valued about 4500 over the pre-COVID KBB. On top of all that, I got a lower interest rate. I was able to go up a model due to the lucrative financing. What I can’t fathom is how they sold my trade for $50 more than I paid 3 years ago.

quote:

Originally posted by wolfe 21:
I'm guessing no-one is doing employee or supplier discounts right now either? I'm kinda in the need to buy something soon position.

As a Ford stockholder I qualify for X-Plan and that discount program still works though not on all models.

quote:

Originally posted by smlsig:
who knows how much the dealers will tack on to that.

Roughly $3-5k around here...

quote:

Originally posted by r0gue:
When does this end?

I can tell you it’s more than a chip shortage. There are huge supply chain and staffing issues throughout the entire manufacturing and shipping process. Originally my customers (car dealers) were telling me mid-september new car levels would start rising. I am not so sure. Plus, many if not most of the new cars on order are already pre sold at least in my market.

We're looking for a new SUV and are finding very few that we like and all are marked up 3K-5K. We can order a Telluride at MSRP but the wait is a year.

dealers around here are marking up Telluride's $20K and similar markup on Tacoma's. I was lucky to get a call from a somewhat distant dealer I had contacted with a 2022 Telluride SX-Prestige that came available (customer who ordered had found something in the meantime) and I drove down the next day and bought it at MSRP (and they gave me within $6K of what I paid new for my previous car three years ago).

Yeah, the market sucks and I had given up looking but lady luck was on our side.