Buying a New Car

[Chuckanut]

Here’s an interesting figure. In the 4th quarter of 2023, 20% of the new car deals included an upside down trade in. IOW, the car being traded in was worth less than the outstanding loan on the car, so the difference gets added to the loan for the new car.

That sounds ugly to me.

 

[Lorenzo]

I paid cash for a 1 year-old Toyota that's now 21 years old. Repairs are finally starting to get serious. Watching this thread. I have no idea how to buy a new car without getting fleeced.

 

[brett]

I paid cash for a 1 year-old Toyota that's now 21 years old. Repairs are finally starting to get serious. Watching this thread. I have no idea how to buy a new car without getting fleeced.

Ditto. Approaching this with our Honda in the next few years.

Last time this happened with our 97 Camry. Dealer repair estimate was $3300.

Local Toyota trained mechanic shop trimmed it down to $1400. We kept the car for another 4 trouble free years before passing it to our son.

 

[Out of Steam]

I bought a new Subaru a few months back. It’s a premium trim Crosstrek and has lots of bells and whistles I’d never intentionally order, but I got them.

My wife and I have owned two Subarus, and to me, the Crosstrek is most like what a Subaru should be.

 

[braumeister]

My wife and I have owned two Subarus, and the Crosstrek is most like what a Subaru should be.

Is it true that if you live in Vermont you're required by law to own a Subaru?

 

[aja8888]

Is it true that if you live in Vermont you're required by law to own a Subaru?

Same thing with Connecticut!

 

[tulak]

Same thing with Connecticut!

Washington isn't far behind.

 

[Car-Guy]

Is it true that if you live in Vermont you're required by law to own a Subaru?

My wife and I have owned two Subarus, and to me, the Crosstrek is most like what a Subaru should be.

I rarely see any Subaru's here in Texas. Do they make any sort of pickup trucks? If not, that's probably why.

 

[Out of Steam]

Is it true that if you live in Vermont you're required by law to own a Subaru?

I'm a hiker and just traded in my Subaru for a Mazda. I've had several people ask whether I was supposed to do that.

 

[aja8888]

I rarely see any Subaru's here in Texas. Do they make any sort of pickup trucks? If not, that's probably why.

They made one a long time ago called the Brat, originally introduced in 1978.

The Subaru BRAT pickup was a small, light utility pickup truck sold in the US from 1978 to 1987. As a response to the market demand of the times for car-like pickup trucks, Subaru vehicles produced the BRAT (Bi-Drive Recreational All-Terrain Transporter) for an audience that wanted something a little different.

 

[Tetto]

I'm a hiker and just traded in my Subaru for a Mazda. I've had several people ask whether I was supposed to do that.

I just traded my Mazda for a Subaru! Loved my Mazda but Subies are in my blood

 

[Ronstar]

My niece drives a Suburban. Packed full of kids and hockey or camping gear. Her husband traded his pickup truck for a Subaru. He thought he needed one to go fly fishing.

I cant' see how a Subaru would be better for fly fishing than a pickup truck.

 

[Ronstar]

We bought a new Jeep Wrangler last June to replace a 20-yr old Wrangler. My turn to buy and I knew what I wanted. And in the spirit of BTD I didn't haggle much over the bottom line. EZ PZ. And I love my Wrangler.

I love my Wrangler as well. Almost time to take the top off.

 

[GaryInCO]

Another possibility is a Tesla Model Y. Tesla is apparently drastically cutting prices on Model Ys.

I think Tesla was the only EV maker with a fat profit margin. (Most others were losing money bigtime on each car.) So they adjusted their prices strategically to manage the demand. When the Model Y was new and in hot demand, they only made them in California. I don't remember for sure but I think the waiting list was well over a year. They had tons of demand, so they started jacking up the price -- people were willing to pay it, so why not? They got it up as high as about $65k. (Which was when I got a "full remission" verdict from my oncologist, and my brother the hardcore Tesla fanboi twisted my arm to BTD and replace my 20-yr-old Saab. And I missed the federal EV credit too. My typical great timing.)

Since then they've built factories in Texas, Shanghai, and Berlin, and they're cranking out millions of cars. The Model Y was the top-selling car in the WORLD last year, but they had 4x the production capacity so they still stayed ahead of demand. So they dropped the prices until they got enough buyers to keep the factories reasonably busy and maximize their profit.

At current prices the standard Long-Range model Y is $50k. After federal tax credits it's $42.5k, and some states (like CO where I live) credit more. So I could buy a new MYLR for about $37500. Tempting ...

 

[FIREarly]

Another possibility is a Tesla Model Y. Tesla is apparently drastically cutting prices on Model Ys. If that form factor works for you that may be a good option.

One possible reason the Model Y's price is being reduced is due to lower sales because there is a new body style coming out, possibly within a year, for this model.

~75% of the car uses the same parts as the Model 3 which just came out with a new body style.

 

[Chuckanut]

Interesting figure... Stellantis has nine quarters in a row of declining sales. Maybe it's time to make an offer on a RAM, Jeep or Chrysler.


Then there's this:

The top 5 most in-demand cars of 2024 Highest ratio of leads-to-available listings right now:
1. 2023 Hyundai Santa Fe
2. 2023 Chevrolet Silverado 1500
3. 2024 Toyota Prius
4. 2024 Kia Carnival
5. 2024 Toyota Highlander Hybrid

Interesting to see Hyundai and Kia on the list.

 

[Car-Guy]

Interesting figure... Stellantis has nine quarters in a row of declining sales. Maybe it's time to make an offer on a RAM, Jeep or Chrysler.


Then there's this:



Interesting to see Hyundai and Kia on the list.

Check out their prices and factory warranties and it may give you an idea why....

 

[Chuckanut]

Here’s more interesting figures:

Car brands with the *lowest* inventory availability (days' supply):

Brand Days' Supply

1) Toyota 33 days
2) Lexus 43 days
3) Honda 46 days
4) Land Rover 55 days
5) Kia 57 days
6) Subaru 60 days
7) Cadillac 63 days

 

[Chuckanut]

Check out their prices and factory warranties and it may give you an idea why....

A good warranty is a great selling point especially with today’s high cost of repairs in many areas.

 

[Out of Steam]

I just traded my Mazda for a Subaru! Loved my Mazda but Subies are in my blood

I would have enjoyed a turbo Outback, but it was way out of my budget, either new or used with lower miles driven. Even a 4-cylinder model with the standard engine would have been a stretch unless I went back before 2020.

The CX-5 may be slightly small, but I enjoy driving it a lot.

 

[Markola]

I just ordered a loaded, 2023 Mazda Miata convertible with 2,000 miles on it via the CarMax app. It’s being shipped from a Louisiana CarMax store to my local one. I doubt there’s a simpler, less stressful and more transparent way to buy cars and they take all used cars, even if you have to tow it there. Everything is fixed price, take it or leave it. A new one costs $40K but this one will be about $35K.

Could I have squeezed a few hundred clams out of the process elsewhere through negotiation? Maybe. But I am happy to pay a few hundred clams to avoid torture.

 

[Teacher Terry]

My friend just bought a new Toyota Corolla for only 3k more as a used one at the same dealer. We also looked at ones online at carmax and they were around the same price as a new one. It’s weird because in the past slightly used ones were always quite a bit cheaper here.

 

[REWahoo]

My friend just bought a new Toyota Corolla for only 3k more as a used one at the same dealer. We also looked at ones online at carmax and they were around the same price as a new one. It’s weird because in the past slightly used ones were always quite a bit cheaper here.

I saw something yesterday that said new car prices were softening due to lack of demand resulting in dealers and manufacturers beginning to offer more discounts and rebates to move inventory.

However, that trend is lagging when it comes to used cars as only dealers, not manufacturers, determine used prices. Dealers are resisting lowering prices for their used inventory because they often paid a premium for them and are reluctant to take a hit on profits. That can't last as the price spread between new and used is getting so small that buying used makes no sense.

 

[Car-Guy]

I saw something yesterday that said new car prices were softening due to lack of demand resulting in dealers and manufacturers beginning to offer more discounts and rebates to move inventory.

However, that trend is lagging when it comes to used cars as only dealers, not manufacturers, determine used prices. Dealers are resisting lowering prices for their used inventory because they often paid a premium for them and are reluctant to take a hit on profits. That can't last as the price spread between new and used is getting so small that buying used makes no sense.

Sort of makes you feel sorry for the dealers...




Not!

 

[livingalmostlarge]

i was curious about that. deciding about leasing tesla MY, guy at tesla said to lease since it's getting revamp next year and he was pretty sure it will drop the value of the 2024. Or buy used Model MY 2022 for $32k and new MY 2024 is $42k after $7500 credit. Leasing is $319/month for 3 years.

yes we have to buy a car now since our subaru got totalled.