Dealerships Markups Are Out of Control
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- Опубликовано: 15 сен 2024
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Just a few years ago, the thought of paying MSRP for a new car sounded ridiculous. If you told anyone that you paid MSRP for a new car, they would most likely think that you got ripped off. In today’s market, that’s no longer the case. In fact, nowadays, if you can manage to pay the full sticker price for a new car, you’re doing quite well as most dealers are marking up the prices. But if you can’t negotiate down to the car’s original sticker price, how much over MSRP is “too much?”
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Went to a dealership looking for a new civic sport a few months ago and the sticker said $25,000 new, once I talked finances the end price ended they wanted me to pay was $32,500 AND I would have to wait 4-5 months.. Used market too is horrible, was looking on carvana and they are trying to get 17k for a 2011 honda accord with 70,000 miles. Absolutely crazy.
They’re doing the same thing here in Miami. One dealership is charging 11K markup for a Civic SI(40k in total) and I’m not going to get started on the civic type R…
The coming recession will eventually straighten this nonsense out. We’ve all seen the days when dealerships were desperate to get vehicles off their lots with deep incentives. Patience patience
Great comment, it's here already and it's the only way to Stop this Stupidity
If you quit paying, they’ll quit charging. It’s pretty simple.
Not so simple when you need a car to get around… it’s like saying quit eating and they will reduce food prices 😅😂
You're absolutely right. You could buy a beater for under 3k and save that money for retirement or put your kid through college. People are burning their money. It's going to crash, and people who paid these ridiculous prices are beyond upside-down 🙄
I bought my truck for 4k under msrp plus my trade in 2020. This world is crazy.
@@ReeLSpirit for a restaurant business.. that's absolutely true!
Exactly right
@@ReeLSpirit you're acting like there isn't cheaper cars out there.
My local Honda dealer advertises its price as MSRP. They add some "mandatory BB" for $2,500, a fake doc fee of $500, and a few other fees amounting to $500. So the real price is at least $3,500 over MSRP. Last week they also had a "market adjustment" of $3,000, so $6,500 over MSRP. And this is for the same vehicle.
I appreciate the feedback. If you visit quotes.everymandriver.com you can see the best deals/prices on new cars/trucks in your zip code! It’s a free site and it’s Everyman Driver Approved!
@@everymandriver that site didn’t do anything besides ask for personal info.
This isn’t any different from pulling a gun out and stealing your money. You have to be nuts to pay thousands of dollars over MSRP.
When you used to have 300 cars to sell and now you have only 40….I guess the natural order takes over. They have to keep their lights on…..So this happens because demand will tolerate it. Nobody says you must buy.
It’s a little bit different than pulling a gun out.
@@everymandriver ….I understand, but the result is the same. Enjoy your content, watch everyone.
Spin by local dealerships to look at Kias... look at the markups... nearly 10k! No thank you. I'll wait until the market cools. I can run my car into the ground until then.
I appreciate the feedback. If you visit quotes.everymandriver.com you can see the best deals/prices on new cars/trucks in your zip code! It’s a free site and it’s Everyman Driver Approved!
Don’t pay over MSRP. Extremely simple. Why would anyone pay over.
I got the top of the line 2020 Santa Fe in December of 2020.... Like before things got crazy and got it for $8,000 off MSRP. They had 28 of them on the lot... Just sitting. Three months later they only had two, 2 years later carvana has offered me what I paid for the car.... That's just crazy.
It’s usually for models with high demand that get these marks. The model you described is definitely not high demand. I think the marks didn’t start happening till this year as well but I may be mistaken.
Stop paying over MSRP and they’ll stop the madness.
I appreciate the feedback. If you visit quotes.everymandriver.com you can see the best deals/prices on new cars/trucks in your zip code! It’s a free site and it’s Everyman Driver Approved!
The secret MSRP number you want is not above MSRP
Here in NJ, these thieving car dealers are averaging $8,000 to $12,000 over MSRP (or 25%)!!! And with major natural disasters occurring (Cat 4 Hurricane Ida in Florida as I type this, many many flooded vehicles totaling them, means the supply crunch will be here... forever. Car dealers have no incentive whatsoever to return to the days of discounting MSRP. I say they will cause shortages on purpose which should be illegal.
I bought a 2021 RAV4 new last year $700 off msrp. My salesman called me offering me $4500 more than what I paid for it. Crazy!!
I walked out of a the dealer today. Not paying over. They have no inventory on lot and and are not paying on a loan. Then they are charging over msrp. There will be tons of used cars coming out and deep price cuts. I would drive a hoop-tee before i would pay these prices. Everyman advice is useless
I will pick one up when the recession repossessions flood the market. I'm not paying these crazy numbers.
Yep, it's crazy to buy now
@@swissmrkc I agree, I’m in the market for several months now, dealers should get busted soon. Surprised this channel is promoting to buy for 10% mark up, no one to trust.
Crazy in some states is not allowed. California is insane, average 10-17k markups. They can keep them. Lol.
Reminiscing about the good old days. In 2014 I bought a 2014 Chrysler Town&Country MSRP $38,850. Sold for $8,000 off MSRP with no haggle and no added fees. “Greed is good”?
Totally disagree, if they mark the car up, don't buy, period. I just purchased a Mercedes Benz and was told repeatedly that I would have to pay MSRP or more. I bought the car with a 15% discount off MSRP. You just need be firm and be willing to walk away. Don't let dealers scam or steal your money, the cars are already marked up from the factory, as such they are right out stealing from you if you agree to a markup.
Yes dealership in my area calls it the “dealer advantage”. How does it advantage to me. The advantage is $ 3995
I saw a Hyundai Palisade with a $7K markup which is INSANE. They wanted $49K for a base model.
Markups killed all enthusiast/fun cars. They're marketed at younger crowd at prices they can afford but that is useless because USA has franchise laws that prohibit direct sales. Car has to go to a third-party parasite that gets to hold it hostage until you pay a ransom called ADM before they'll release the car to you that they had NOTHING to do with when it came to R&D. US is a third world country in so many aspects and US citizens are so oblivious to it. From car industry to healthcare costs, to roads, to rail cars, etc.
I just picked up a Honda Passport trailsport for 1500 over MSRP. Because of the stupid dealer add ons. But they had an ad on their website offering the price for 45k with the same vin#.
But when i arrived their sticker was 51k.
They didnt even want to sell to me and even tried to give me the run around that the price in their ad was wrong. But when I brought up false advertising to get customers into the dealership..guy was like my manager says you can get that price since your a returning customer😂😂
That's call bait and switch you should report them to your State's attorney general and the Federal Trade Commission
Still waiting on car recession, higher interest, less people buy
I had this experience in May. Traded a ‘21 Outback for a ‘22 Tucson. Got $1000 more for the Outback than I paid for it new. Got the Tucson for MSRP ( thank God, that’s probably not true anymore). Face it, it’s nuts out there !
This is how I was able to buy my GR86. They offered me 2k over what I paid for my FRS lol never thought that would happen.
$0 over
Just the information I was looking for. Thank you! Got my sub!
Thanks for the sub!
They mark ups 2k and call it as MSRP
When can we free from this disgusting middle man dealers.
We have the worst car buying system here in the U.S.
You apparently prefer to get hosed by the manufacturer. You will pay MSRP for the rest of your life. You don’t have to take a dealer discount. Pay full sticker and feel better about yourself. Cut that dealer right out of the price. Smart.
@@RLTtizME how exactly am I suppose to do that?
I only drive Japanese cars.
@@Kaywonlee Explain. Point to the window sticker and tell them that is what you want to pay. Not a penny less.
@@RLTtizME If that is easy, I wound't be asking how to do it because dealers want to go after dumbasses who will throw markups (urgency) . Nashville is only place I know it's still "maybe" factory order takes up 8 months.
So I'm in the market of buying a lexus. I found the exact one I need and it's msrp $59,975. The dealer market value selling price is 64,975 is that fair?
"Only" $5,000 above- for a $60,000 car? Try dealer mark ups of $5,000- on a $25,000 car (and this was yesterday, 1/23/23)!
Last year I paid an extra $3000 for a new hybrid toyota highlander. you don't want the car for that price, dealer just moves on and they have 10-15 other buyers waiting and willing to pay markup. Highlanders were sold the same day they came into the show room.
Many cars are being sold even before they come to dealers. If there are no cars in the dealership it does not mean they are good cars. When majority of the population loses ability to afford a car the reversal expected. It does not matter how long but I’m ok to wait for 2023 or 2024.
@@sxsunda4424 I would've waited too, but my other vehicle was becoming unreliable and I needed a new family car. I hated paying over msrp plus all the extra options they add on to inflate the price even more.
My advice. Only buy used from a non-dealer.
A non-dealer?
@@everymandriver private, Facebook market place or autotrader
I went today to toyota of west covina in California 2023 toyota prius $29k
Mark up price $41k
$15 k mark up
Tryied to buy a 2023 toyota prius LE (base model) today , msrp is around $30,000 and out the door with a 6 year term it would cost a total of 53,000
I was trying to buy a new Nissan versa and it was going to end up costing me after all of the addendum’s fees and taxes almost $26,000 I said no thank you and I’m driving my old car. I have an opportunity in December 2020 to buy a manual base versa for 13 999 that was the sales price
Oh God you made the right call. 26K is about 10 grand more than a Versa should cost
I appreciate the feedback. If you visit quotes.everymandriver.com you can see the best deals/prices on new cars/trucks in your zip code! It’s a free site and it’s Everyman Driver Approved!
I have a 15-year old Lexus GS 350. I had to bring it in for a diagnostic test due to an oil issue. The estimate $6000 incld. 4 new tires. Anyway, I went to Toyota to see what a Camry costs. The MSRP on a new 2023 Camry SE $29,000. The sales guy told me I'd only pay the MSRP and quoted me tax and license of approx. $33.000. Where in this example could he mark up by 20%? Or is this legit.The MSRP was based on a list of Camry's coming into the dealership at different dates on his computer screen where he showed me names of customers besides the Camry's that had been already pre-ordered and other Camry's that were available with no customer names. Can I still negotiate on the MSRP in this example?
But people keep buying regardless 😂
Just like a house 1 million but its worth 250k
I would like to see a video about what happens if you order a car and are willing to wait for to six months for it to arrive do you still pay over MSRP?
They will prob charge you even more once it arrives
In my area I'm now seeing a 6,000 extra charge if you wanna pay cash for a Toyota Camry vs lease or finance
Went to Mercedes in Brooklyn NY just to look around. I saw markup of as high as 100% on AMG models and some even higher.
So now you can get a lot of cars for MSRP, but like you said those luxury cars can be above. But here in the DFW area Jeep Gladiators have dealer incentives. So the data isn't current for everywhere.
I appreciate the feedback. If you visit quotes.everymandriver.com you can see the best deals/prices on new cars/trucks in your zip code! It’s a free site and it’s Everyman Driver Approved!
You can say what you want about the Vehicle, but I personally think Chrysler 300's are reliable now and just had a great experience in January and got the car that I wanted and have been saving for. Also since the Vehicle isn't Trendy, I was able to get it for exactly $1000 under MSRP, while receiving 0% Financing through Chrsyler Capital.
You personally ‘think’ they’re more reliable now?
@@everymandriver I'm not going to guarantee so I use the word think. Cars are crap shoots i don't care what it is. That's why I think it's absurd to be ok with paying 10% over MSRP like you claimed. You're ride ain't guanteed to be reliable and you could find yourself upside down real quick, especially since most of these over MSRP Sales are Kias and Hyundai.
the everymandriver website doesn't list FORD as an option
Sometimes a manufacturer opts out for the month because they don't have the inventory or specials.
You've got a thumbs up from me sweetie.👍👍👍🙋♀️🎈💖
Sweetie?
First comment!!! Great videos!