Should You Buy During the Pandemic?

[Teseo]

Im gonna buy a mustang gt when sales goes down and dealerships are stuck with 2020 models on the lot

[Tanstin]

Originally Posted by Ravness

Well, I'm considering buying a 2020 model, but I'm concerned about how much I can get for it. The Hakone (only manual one) or the Limited/Ts are about 30k MSRP at my local dealerships and if I can knock off a couple of grand off there it'll be great. The only question is how much do you think they'll knock off, hopefully, more than 2 grand? I should mention I work in the medical field too if that'll make it cheaper

Oh nice! What do you do?

So now, it seems like general consensus is to hold off for a bit, and when prices go down, take advantage of reduced interest rates.

Wondering if I should buy new, but I have a feeling it'll just depreciate like crazy.



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[Ravness]

Originally Posted by Tanstin

Oh nice! What do you do?

So now, it seems like general consensus is to hold off for a bit, and when prices go down, take advantage of reduced interest rates.

Wondering if I should buy new, but I have a feeling it'll just depreciate like crazy.



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I'm a nurse, been careless for about two years now lol. Been asking for rides from parents and sister, the yee old shit box died.

[DarkSunrise]

Originally Posted by Ravness

Well, I'm considering buying a 2020 model, but I'm concerned about how much I can get for it. The Hakone (only manual one) or the Limited/Ts are about 30k MSRP at my local dealerships and if I can knock off a couple of grand off there it'll be great. The only question is how much do you think they'll knock off, hopefully, more than 2 grand? I should mention I work in the medical field too if that'll make it cheaper

Take a look at this article (and the comments section, which includes commentary from dealership employees).

https://jalopnik.com/dont-assume-car...you-1842617815

Long story short, it's still early and dealers are holding fast to pre-CV pricing. Manufacturer production is significantly down, so dealers don't have a huge incentive to push current cars off their lots without new inventory rolling in. Current manufacturer incentives are on the financing side (makes sense given where federal interest rates are), so that's what dealers are sticking to for discounts.

It just doesn't make a lot of sense for dealers to slash new car pricing... yet.

Once manufacturer production ramps back up, there'll be a push for dealers to sell cars. Manufacturers will probably offer buyer cash-back and dealership volume incentives. Combined with buyers' depleted bank accounts in the post-CV world (in other words, increased supply and reduced demand), that'll likely be the time to strike if you want a good deal on a new car. Give it a few months if you can.

[Tcoat]

Originally Posted by DarkSunrise

Take a look at this article (and the comments section, which includes commentary from dealership employees).

https://jalopnik.com/dont-assume-car...you-1842617815

Long story short, it's still early and dealers are holding fast to pre-CV pricing. Manufacturer production is significantly down, so dealers don't have a huge incentive to push current cars off their lots without new inventory rolling in. Current manufacturer incentives are on the financing side (makes sense given where federal interest rates are), so that's what dealers are sticking to for discounts.

It just doesn't make a lot of sense for dealers to slash new car pricing... yet.

Once manufacturer production ramps back up, there'll be a push for dealers to sell cars. Manufacturers will probably offer buyer cash-back and dealership volume incentives. Combined with buyers' depleted bank accounts in the post-CV world (in other words, increased supply and reduced demand), that'll likely be the time to strike if you want a good deal on a new car. Give it a few months if you can.

This ^
The few dealers that are even open right now are in no rush to unload the stock they have at any form of discount. Remember that they are businesses not charities and with no new stock rolling in they can not afford to be slashing prices. They make most of their money through volume not selling individual cars so when there is no volume there is little point in slashing prices. They will rely on the corporate financing deals to try to sell for them right now.
Once the new ones start rolling in again and there are limited buyers for them is when they will need to cut prices to compete.

BUT...

These things will likely only apply to the volume "appliance" vehicles. If you want a pickup truck, SUV or Corolla you will get a smoking deal in a few months. Do NOT expect to see the same deals on niche sports cars. That is if they even make more niche sports cars when they ramp up again! The impact to the auto industry in this situation is beyond comprehension. All the "normal" thoughts and business plans are gone and will never return to what they were. The 2008 recession changed the industry and that was a tiny speck in their plans compared to what is happening now. I fully expect to see many lower volume models completely dropped over the next few months. This of course will include the twins (both first and proposed second gens).

Waiting to see if there are deals is not a bad idea but be prepared to take what you can get if they drop making new ones. What is on the lots right now may be the end and the longer you wait the less likely you will be able to get exactly what you want. Pay close attention to the current financing deals. Every ad ends with the fine print of "on SELECT models". There may never be any great deals on these cars. On the bright side, if this goes down as I suspect it will then the depreciation hit on a 2020 will be very small and they will hold value like crazy!

[Ravness]

Originally Posted by DarkSunrise

Take a look at this article (and the comments section, which includes commentary from dealership employees).

https://jalopnik.com/dont-assume-car...you-1842617815

Long story short, it's still early and dealers are holding fast to pre-CV pricing. Manufacturer production is significantly down, so dealers don't have a huge incentive to push current cars off their lots without new inventory rolling in. Current manufacturer incentives are on the financing side (makes sense given where federal interest rates are), so that's what dealers are sticking to for discounts.

It just doesn't make a lot of sense for dealers to slash new car pricing... yet.

Once manufacturer production ramps back up, there'll be a push for dealers to sell cars. Manufacturers will probably offer buyer cash-back and dealership volume incentives. Combined with buyers' depleted bank accounts in the post-CV world (in other words, increased supply and reduced demand), that'll likely be the time to strike if you want a good deal on a new car. Give it a few months if you can.

Thank you and Tcoat, I'll put it in consideration. I'm in no hurry to buy a car, after seeing other people's perspective, then I have no issues waiting a month or two. Who knows, maybe if subaru or toyota actually came through for the 86 and released official details then it's worth the wait

[Tanstin]

Originally Posted by Tcoat

This ^

The few dealers that are even open right now are in no rush to unload the stock they have at any form of discount. Remember that they are businesses not charities and with no new stock rolling in they can not afford to be slashing prices. They make most of their money through volume not selling individual cars so when there is no volume there is little point in slashing prices. They will rely on the corporate financing deals to try to sell for them right now.

Once the new ones start rolling in again and there are limited buyers for them is when they will need to cut prices to compete.



BUT...



These things will likely only apply to the volume "appliance" vehicles. If you want a pickup truck, SUV or Corolla you will get a smoking deal in a few months. Do NOT expect to see the same deals on niche sports cars. That is if they even make more niche sports cars when they ramp up again! The impact to the auto industry in this situation is beyond comprehension. All the "normal" thoughts and business plans are gone and will never return to what they were. The 2008 recession changed the industry and that was a tiny speck in their plans compared to what is happening now. I fully expect to see many lower volume models completely dropped over the next few months. This of course will include the twins (both first and proposed second gens).



Waiting to see if there are deals is not a bad idea but be prepared to take what you can get if they drop making new ones. What is on the lots right now may be the end and the longer you wait the less likely you will be able to get exactly what you want. Pay close attention to the current financing deals. Every ad ends with the fine print of "on SELECT models". There may never be any great deals on these cars. On the bright side, if this goes down as I suspect it will then the depreciation hit on a 2020 will be very small and they will hold value like crazy!

Agreed, theres no rush right now haha.

Honestly, I feel like the car community is responsible for the deaths of sports cars. We complain about power, looks, every little possible thing and even if they manage to cover all of that, we won't even buy it.

We're begging for them to put a turbo in the twins, but who's gonna actually buy it once the price goes to 40k? I honestly hope they don't add FI to the 2nd gen IF it even comes out.

I'm just glad that the twins are still here for now as everything is being converted into SUVs.

IF toyota still goes through with releasing the 2nd gen in spite of this, I'll 100% buy toyota for the rest of my life. I remember when a company sticks to its values.

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[Ravness]

Originally Posted by Tanstin

Agreed, theres no rush right now haha.

Honestly, I feel like the car community is responsible for the deaths of sports cars. We complain about power, looks, every little possible thing and even if they manage to cover all of that, we won't even buy it.

We're begging for them to put a turbo in the twins, but who's gonna actually buy it once the price goes to 40k? I honestly hope they don't add FI to the 2nd gen IF it even comes out.

I'm just glad that the twins are still here for now as everything is being converted into SUVs.

IF toyota still goes through with releasing the 2nd gen in spite of this, I'll 100% buy toyota for the rest of my life. I remember when a company sticks to its values.

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Hopefully they release some details about it soon. I just imagine of a price increase it'll be.

[Ohio Enthusiast]

Originally Posted by Ravness

Well, I'm considering buying a 2020 model, but I'm concerned about how much I can get for it. The Hakone (only manual one) or the Limited/Ts are about 30k MSRP at my local dealerships and if I can knock off a couple of grand off there it'll be great. The only question is how much do you think they'll knock off, hopefully, more than 2 grand? I should mention I work in the medical field too if that'll make it cheaper

When I was shopping for my BRZ a couple of weeks ago, I had written offers for 2020 BRZs (Limited without PP) from the two Subaru dealers in my area - one was $1800 under MSRP and the other $2800 under MSRP. That was before any serious negotiations, if that helps you.

[saltywetman]

I don't know about the dealerships in the USA but in Canada it seems some dealership's "MSRP" differ from the one listed on Toyota.ca even when the correct region is selected

eg. Toyota.ca lists the 2020 6M GT model's MSRP as $34450 CAD when Alberta is chosen for provinces

All the Edmonton dealerships I've obtained quotes for had the number $36220 CAD as their MSRP. The best offer I received was $2,700.00 off the $36220 which came out to be $33520 CAD, roughly just $900 bucks off the Toyota.ca MSRP. Not sure if this higher dealership MSRP wasintentional so that any "discounts" offered would appear more appealing due to the "big discount" number.

I recall a post by TCoat in the Canadian subforum mentioning that in Canada, depending on regions there is very little (if any) wiggle room to negotiate with the price of the twins and that MSRP or even $500 bucks lower than MSRP would be considered a good deal. Seeing as this quote that I brought to all the other local (and nearby provincial) dealerships got rejected when I checked to see if the dealership was willing to beat it or give more perks/incentives for the same price to go with them. I figured it was probably very close to the lowest price I could get at the time.

From what i've seen for the prices in my province. The prices DO drop for older models. I am still kicking myself for not pulling the trigger on a 2019 TRD edition for a bit over $34k CAD (pre negotiation) back in January

https://www.toyotaonthetrail.ca/inve...berta/16264036

Came with cold air intake and lowering springs.

I passed on it because I wanted one in Ablaze and was going to winter drive it so didn't want the springs. Also I assumed that Canada would've gotten the 2020 handling package options offered in other North American country. Guess I wasn't the only person with the same mindset because as soon as the 2020 GT models appeared on Toyota.ca website and did not include the handling package, this thing was sold.

Now there is still a 2019 TRD edition listed in BC but that dealership wants $39K CAD and it doesn't even have the additional extras that this cheaper one did.

I bought a 2020 because I also do not have confidence that the next gen model will not get axed after this pandemic and rather a model in the configuration and color I want now rather than risk waiting too long and end up having to settle for another color.

For pricing in Canada, the subaru BRZ ts/sport tech rs trims are a much better buy than the 86 GT as both those trims are cheaper than the 86 and come with the upgraded suspension and brakes.

[Ravness]

Originally Posted by Ohio Enthusiast

When I was shopping for my BRZ a couple of weeks ago, I had written offers for 2020 BRZs (Limited without PP) from the two Subaru dealers in my area - one was $1800 under MSRP and the other $2800 under MSRP. That was before any serious negotiations, if that helps you.

Thank you! If you got any negotiation tips, I would appreciate it. I never had to deal with buying a car, but I assume its always an awful experience.

[saltywetman]

With covid-19 a lot of dealerships are relying on internet sales. What I personally did was email all my local dealerships letting them know my intentions to buy a new 86 within the next month, listed the trim, options, and color that I wanted and asked them for a detailed quote for their best offer. Then I just take the best quote I receive and follow up with the other dealerships seeing if they are willing to do better or offer more. After a few rounds of this, I find you'll hit a mark that dealerships will just tell you they cannot do better and let you go with whoever gave you the quote. this is the number I find is *close* to the bottom price you can get within your region. Most important thing is request a detailed breakdown of ALL costs including ALL fees. I've encountered a lot of dealerships who would make a bunch of promises but keep refusing to send a detailed breakdown of the costs. What you are looking for is a detailed quote with the "out the door" final number. Confirm with whoever you're working with that this is the final number and no surprise fees upon delivery.

Now that you have gotten a decent price for the trim/options/colors you want, you can try to negotiate the interest rate down. It may help to have a parent cosign if you don't have a good credit score.

[Sasquachulator]

Originally Posted by saltywetman

I don't know about the dealerships in the USA but in Canada it seems some dealership's "MSRP" differ from the one listed on Toyota.ca even when the correct region is selected

eg. Toyota.ca lists the 2020 6M GT model's MSRP as $34450 CAD when Alberta is chosen for provinces

All the Edmonton dealerships I've obtained quotes for had the number $36220 CAD as their MSRP. The best offer I received was $2,700.00 off the $36220 which came out to be $33520 CAD, roughly just $900 bucks off the Toyota.ca MSRP. Not sure if this higher dealership MSRP wasintentional so that any "discounts" offered would appear more appealing due to the "big discount" number.

I recall a post by TCoat in the Canadian subforum mentioning that in Canada, depending on regions there is very little (if any) wiggle room to negotiate with the price of the twins and that MSRP or even $500 bucks lower than MSRP would be considered a good deal. Seeing as this quote that I brought to all the other local (and nearby provincial) dealerships got rejected when I checked to see if the dealership was willing to beat it or give more perks/incentives for the same price to go with them. I figured it was probably very close to the lowest price I could get at the time.

From what i've seen for the prices in my province. The prices DO drop for older models. I am still kicking myself for not pulling the trigger on a 2019 TRD edition for a bit over $34k CAD (pre negotiation) back in January

https://www.toyotaonthetrail.ca/inve...berta/16264036

Came with cold air intake and lowering springs.

I passed on it because I wanted one in Ablaze and was going to winter drive it so didn't want the springs. Also I assumed that Canada would've gotten the 2020 handling package options offered in other North American country. Guess I wasn't the only person with the same mindset because as soon as the 2020 GT models appeared on Toyota.ca website and did not include the handling package, this thing was sold.

Now there is still a 2019 TRD edition listed in BC but that dealership wants $39K CAD and it doesn't even have the additional extras that this cheaper one did.

I bought a 2020 because I also do not have confidence that the next gen model will not get axed after this pandemic and rather a model in the configuration and color I want now rather than risk waiting too long and end up having to settle for another color.

For pricing in Canada, the subaru BRZ ts/sport tech rs trims are a much better buy than the 86 GT as both those trims are cheaper than the 86 and come with the upgraded suspension and brakes.

https://openroadtoyotapeacearch.com/...ition/19t8189a

Toyota.ca has a hidden "certified used cars" search engine (i havent been able to find it on the actual website, but if you google search toyota certified used cars you'll find it).
Bunch of cars there arent shown on cargurus or autotrader, like this one (a TRD edition for 30k CAD)

[saltywetman]

Originally Posted by Sasquachulator

https://openroadtoyotapeacearch.com/...ition/19t8189a

Toyota.ca has a hidden "certified used cars" search engine (i havent been able to find it on the actual website, but if you google search toyota certified used cars you'll find it).
Bunch of cars there arent shown on cargurus or autotrader, like this one (a TRD edition for 30k CAD)

Oh I am sure there are a bunch of used TRDs on the market. This one was brand new from dealership @ $34k though. However, I have this OCD that makes me irrationally refuse to accept getting second hand stuff. Rather buy a lower tier new at the same price of something 1-2 tiers up pre-owned . Makes absolutely no sense and drives my friend bonkers when he tries to rationalize why going pre owned is the much more logical choice.

Too late to make any changes though. I already put in my deposit and the dealership is bringing it in for me so if I decide to change my mind it would cost me $1k. There's a part of me that still telling me to get a 2020 ts. but the Edmonton Subaru dealerships suck as they are both owned by same owner so 0 competition and wiggle room unless I go out of town or down to Calgary (what my friend did for his '17 sti).