Buying a car in this mess

[Gundo]

Just wondering if anyone else is possibly in need of a car at this time ? Our SUV is long overdue for replacing and it’s beginning to look like they are and will be a ton of buying incentives out there on new purchases. I’m really noticing 2-3 year old used stocks dwindling and prices going down on them.

Has anyone else been following vehicle prices much ?

[Izzle]

FWIW, I bought a new vehicle late Feb. I've been periodically checking the price of the vehicle ever since. The posted prices haven't changed much, honestly. However, I don't know how much more willing dealerships are to reduce prices given the pandemic. I'd guess that they would be more willing, but that hasn't been reflected in their online posted prices.

Sent from my Nexus 6P using Tapatalk

[Canadianman]

a buddy is looking at buying used right now.

I suggested to him he lowball a bunch of dealers. They all have stock they need to move to free up cash flow. Someone will bite, even if they lose money on it.

[ken0042]

Your best bet is often at the end of the month, and I would say especially more so now. Everybody will be anxious to deal.

[Izzle]

Originally Posted by ken0042

Your best bet is often at the end of the month, and I would say especially more so now. Everybody will be anxious to deal.

Yes, I got a very good deal when I went shopping in the last week of Feb.

Sent from my Nexus 6P using Tapatalk

[Ferarri]

I hate the car buying experience because I never know what a "good" deal is. Any suggestions or tips that people have used?

[DuffMan]

I was looking at a used one at a dealer, and it has been sitting for awhile. they've dropped the price 19,995 > 19,495 > 19,395, but then I realized I could be unemployed any day, and decided against buying anything now.
Instead I got my transmission fixed for $1500, on one of my other pos jeeps.

[Fozzie_DeBear]

I would expect prices to keep dropping and hardcore incentives to come out in the coming weeks. Also, used private deals will be lower as well.

I would wait a little and leverage your buying power.

[Ahuch]

I don't really have any idea what I'm talking about (I've only bought a few cars in my life anyways), but this is my thought process:

Wholesale used cars (auctions, etc) are likely hampered right now. Less cars moving off the lots, so only deep pockets can afford to store that kind of inventory right now assuming they are comfortable with the pricing.

I think this backlog will change the used market quite a bit, which has a lag effect on the new inventory so that pricing follows later in the year.

[3thirty]

Originally Posted by Ferarri

I hate the car buying experience because I never know what a "good" deal is. Any suggestions or tips that people have used?

www.unhaggle.com is pretty accurate for the cost of a car

[DoubleK]

Originally Posted by ken0042

Your best bet is often at the end of the month, and I would say especially more so now. Everybody will be anxious to deal.

This is good advice, if the quarter happens to be at the same time it's even better advice.

[Derek Sutton]

Originally Posted by Gundo

Just wondering if anyone else is possibly in need of a car at this time ? Our SUV is long overdue for replacing and it’s beginning to look like they are and will be a ton of buying incentives out there on new purchases. I’m really noticing 2-3 year old used stocks dwindling and prices going down on them.

Has anyone else been following vehicle prices much ?

Wait. Really we can't go anywhere anyways at the moment. Right now the offers across the board are payment differals, which DO NOT HELP anyone out. May will be better (dealer incentives typically run month to month. May will be better, June possibly even better. As the economy begins to re open the push will most likely be on, "Cash Back" promotions, which again DO NOT HELP people.

Originally Posted by Canadianman

a buddy is looking at buying used right now.

I suggested to him he lowball a bunch of dealers. They all have stock they need to move to free up cash flow. Someone will bite, even if they lose money on it.

Used cars are all at the dealers discretion, there no harm in lowballing, inventory cost money and the like longer they sit on a piece the more it costs. Most used inventory was currently bought a month or so ago when things were drastically different. Truck values, do to the export market being shut down have really dropped. There is so much uncertainty around this right now and so many unknown variables, again I would wait a little bit on the used side as well.

Originally Posted by Ferarri

I hate the car buying experience because I never know what a "good" deal is. Any suggestions or tips that people have used?

A vehicle you like at a price you can afford from a place that will take care of you. It pretty simple really. It's not a good deal because it's cheap, if you don't like something or it's not what you want, no matter what it costs it's too much.

Originally Posted by Ahuch

I don't really have any idea what I'm talking about (I've only bought a few cars in my life anyways), but this is my thought process:

Wholesale used cars (auctions, etc) are likely hampered right now. Less cars moving off the lots, so only deep pockets can afford to store that kind of inventory right now assuming they are comfortable with the pricing.

I think this backlog will change the used market quite a bit, which has a lag effect on the new inventory so that pricing follows later in the year.

Out here March sales were down about 50%, April will be worse. Inventories are going to continue to grow as ne vehicles ordered months ago ar still showing up. Coming out of this the big push will continue to be on 3- 6 month payment differals and cash back incentives, to pay off those credit cards etc... again those are both horrible ways to buy a car. We should also expect to see reduced interest rates, so 0% across the board on most new and aggressive rates on used from the banks, especially for those who are able to maintain decent credit scores.

[PaperBagger'14]

Along the same lines as this thread, are registries open still or is there an online option?

[flamesfan1297]

Originally Posted by PaperBagger'14

Along the same lines as this thread, are registries open still or is there an online option?

Not sure if they're all the same, but the one where I live will do in person, by appointment only but they encourage as much as possible done online or over the phone

[dre]

Originally Posted by Ferarri

I hate the car buying experience because I never know what a "good" deal is. Any suggestions or tips that people have used?

If you are going new, I've used carcostcanada with success.
Most times you can see the dealer invoice plus holdback on the vehicle.

Example:

MSRP = $42,000
Dealer Invoice = $34,000 with $1000 holdback = $33,000
Factory Incentives = $2000

Dealer Invoice ($33,000)- Factory Incentives ($2000) = $31,000

Dealer needs to make money so give them 2% above invoice. $31620.

Simplified version. Some vehicles have a small margin. Diesel trucks are stupid expensive.

[Manhattanboy]

Not a bad idea before the inevitable Alberta sales tax.

[Lubicon]

Originally Posted by PaperBagger'14

Along the same lines as this thread, are registries open still or is there an online option?

Sounds like it is optional, some are and some are not. IIRC the Province is allowing licences and registrations that expire during this time to still be considered valid. Through May 15 for the time being.

https://www.alberta.ca/covid-19-temp...-closures.aspx

https://discoverairdrie.com/local/go...se-of-covid-19

[bossy22]

I've used Carcostcanada in the past and it's worked well. I went shopping for a luxury suv and there are some decent deals out there. I figured they'd just get better so I'm just taking my time.

[GreenLantern]

We bought just before all of this started going down in Canada, I've looked a few times and the price for what we paid hasn't changed really on the same or similar type vehicle. But just because the list price hasn't changed it doesn't mean the price they will accept hasn't. I have no doubt right now you could save another couple thousand on a vehicle in the 25-35k price range where we were.

It's kind of bitter sweet, yea we could have saved a few more bucks, but we got to get all of it over with and don't have to deal with anything now. With the Wife being 6 months pregnant, this was the right move for us.

[billybob123]

Originally Posted by GreenLantern

We bought just before all of this started going down in Canada, I've looked a few times and the price for what we paid hasn't changed really on the same or similar type vehicle. But just because the list price hasn't changed it doesn't mean the price they will accept hasn't. I have no doubt right now you could save another couple thousand on a vehicle in the 25-35k price range where we were.

It's kind of bitter sweet, yea we could have saved a few more bucks, but we got to get all of it over with and don't have to deal with anything now. With the Wife being 6 months pregnant, this was the right move for us.

There is always that feeling of "what if" with a car purchase. I've used the Carcostcanada and Unhaggle sheets to figure what is the "best" price, which I'm sure can be beat with more haggling and may not in fact be the "best" price. I like to think "this is the price I'm willing to pay" and then be happy with that price even if I can get it cheaper later.

Look at the bright side - you have a new warrantied car with a baby on the way, that I'm sure you love driving, instead of your old car where you have to debate if you should pay the $2000 transmission job to keep it running.