Car Dealerships Refuse to Lower car Prices

Dealerships Refuse to Lower car Prices
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[billd]

The trouble with having a pet alligator is that eventually, if you can't feed it, it eats you. I think this is the situation a lot of these car dealerships are going to find themselves in.

[FlippingUniversity]

Realistically it's going to take awhile for dealerships to drop their prices if they see people are still willing to pay those ridiculous prices

[shughes]

I retired two years ago. I've been holding onto cash, keeping my old, high miles, commuter car running, and just waiting for the coming drop in vehicle prices. For me, this is an exciting time.

[garrettmorr]

its wild that dealerships didn't think there would be an inverse to this crazy expensive market that we've been dealing with the past two years

[MrSheymie]

I live in Ireland and am an ordinary car driver. I tune in to hear you make sense. We're always behind the US by at least 6 months on major economic changes. Prices are still sky high here for everything. Human nature to kid ourselves, but someday soon, yesterday's clever will become today's stupid.

[Greenlid]

Current experience Jan 23, I have been tracking a custom Jeep at a dealership for 2 months, it has went from $76, 000 to $65, 000, I’m holding out for less or let someone else buy, but prices definitely dropping !! Keep holding out…

[mrnobody]

Last year my wife's car broke down and we had to by another one . We spoke to the dealer and basically they've told us that they've got so much money from the government, that they can run their business for 2 years without selling a car, so we left. Fast forward to today, my buddy went to check how much they would give him for his car, and first they quoted him 38k, 3 weeks later was 24k, because the market was too slow

[oleradiodudea.m.]

It just kills me. When times are good dealers think their salespeople aren't needed because the cars supposedly sell themselves. Then when SHTF they expect salesmen to jump up and down and be miracle workers.

[markpitchford]

I'm dealing with 3 right now that refuse to even drop the add on fees if paying asking price. it's insanity out here.

[TheJiggs]

The market is pretty bad, tried to sell my Bronco, 2 door, not one dealership returned my call. It's clear, they ain't buying anymore.

[BeingMe]

Back in the mid-90s when I was a car salesman. The dealership took a loss on one sale and then made it up on another deal. It's all about averages in a 30-day period.

[wyldfantasies]

I just spent the last 3 months of 2022 in the market to buy a used work van in Cincinnati and these idiots came within a few hundred of what I was willing to pay and they would not budge an inch. They didn't care what type of junk they had, I kept looking at new vans as they got them in. All heavily over priced. The one I wanted most has been sitting for over 6 months. They went to service it and mashed the drivers door up a bit, they still won't lower the price, they argued it was already like that. I came to their locations multiple times with the cash to buy it at the advertised price, it just felt like they were trying to rob me. I kept my money I'm just going to put a million miles on my current truck lol

[Oilfieldscout]

Went through Ford's web site for a 23 F350 SD. Web MSRP was roughly $82K. Was sent to local dealer for final pricing TTL etc. The dealer slapped a $20K SD scarcity fee plus "manditory" add on equipment. This was a 7.3 set up for propane conversion. Total cost out the door was roughly $116K. Told them to stick it.

[johdirt]

Well, jokes on them. I was at a Toyota dealership for vehicle service yesterday for about an hour. Not a single person came into the showroom. Not one. They had a $1600 mark-up for wheel locks and tint on their new cars still.... Good luck bro.

[mikearbon]

It would be great to have a dealership owner (new car) come on the show to defend their reasoning.

[liono]

This just happened to me.. I was a dealer car was priced at $28.5k.. I noticed the car had been on cargurus for like 5 months.. i offered 27k they said no.. the car is still on the lot today and now priced at 26.5k

[keiths]

I’ve noticed used car lots filling up here in Utah. So many cars that their listings online only have exterior photos on the listing because they have so many cars and not enough people to photograph them entirely. And they are still trying to hold the used cars to near-used prices. Some are lowering prices slightly but they are still listed 20-30 % higher than KBB.

[cyberslacker]

Great content! I work with a lot of car dealers. The main reason they're not lowering the cars they have on the lot is that a few foolish car buyers are still overpaying for the cars thinking that cars are still expensive. They're few but they're out there. There are sucker buyers who don't do their homework and overpay for cars. On the other hand, dealer auction prices are dropping. However there are some dealers who have a reserve price and refuse to sell lower. Dealer auction buyers do do their homework.

[billma]

Wife has been wanting to get a Sienna hybrid used since mid last year. So I made a spreadsheet to track inventory based on a simple CarGurus search of 200 mile radius around SoCal. My first data point was August 25 with 77 Sienna hybrids listed. It peaked December 9th at 202 listings. Currently it is at 147. I’m guessing the reduction in inventory available was dealers year end sales, or dumping them on auction to harvest losses for tax. Prices really haven’t moved much though.

Prius prime, however… August there were 166 available. Prior to the 2023 announcement in mid November, there were 308 listed. Currently there are 453. Still not much price movement.

[smokeyj]

This is so true. Sales managers and F&I personnel act like they're top shit. So arrogant. I've heard the phrase "were here to make a profit not lose" many many times after negotiating cars. This has got to be torture for them. Lol