This is going to hurt- trade in values.
11-20-2008, 09:02 PM
#61
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*cough cough wife cough cough*
Gee, could you spill anymore cold water on me?? LOL
11-20-2008, 09:35 PM
#62
Drifting
No surprise here-it is bad times for most anyone selling anything (real estate, cars, boats, planes, fifancial instruments, general retailers in malls who cannot sell their holiday merchendise, which normally makes them one half of their profits) obviously, anyone who'se money is all in cash now and has been so for the last 6 months is in great shape. By the way, the govt, in my opinion, has no alternative but to bail out the auto manufacturers-too many jobs at stake. I just think that the salary of the executives for that period of time should reflect their govt employee status-the ceo should make $400,000, the
Senior vp should make $200,000, etc.
Senior vp should make $200,000, etc.
11-21-2008, 01:09 AM
#63
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Buy low (now) sell high (when the market readjusts in 3-5 quarters) and
enjoy your new P car!
3-5 quarters maybe maybe not....... I know I have lost the equivilent of a new P car this week alone since I have been buying low the last month..... And from what I can see on this board I am a small fish!
*APPLAUSE*
Didja like that last part?[/QUOTE]
enjoy your new P car!
3-5 quarters maybe maybe not....... I know I have lost the equivilent of a new P car this week alone since I have been buying low the last month..... And from what I can see on this board I am a small fish!
*APPLAUSE*
Didja like that last part?
[/QUOTE]
11-21-2008, 01:13 AM
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Likemystoppie?,
This is a great thread you have started. This was the kind of info I was trying to get at in one of the other threads about used pricing these days, especially given the carnage that's happened to every other asset, both physical and financial. Again, super helpful to hear real world examples from someone on the front lines.
This is a great thread you have started. This was the kind of info I was trying to get at in one of the other threads about used pricing these days, especially given the carnage that's happened to every other asset, both physical and financial. Again, super helpful to hear real world examples from someone on the front lines.
11-21-2008, 11:19 AM
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11-21-2008, 11:20 AM
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Likemystoppie?,
This is a great thread you have started. This was the kind of info I was trying to get at in one of the other threads about used pricing these days, especially given the carnage that's happened to every other asset, both physical and financial. Again, super helpful to hear real world examples from someone on the front lines.
This is a great thread you have started. This was the kind of info I was trying to get at in one of the other threads about used pricing these days, especially given the carnage that's happened to every other asset, both physical and financial. Again, super helpful to hear real world examples from someone on the front lines.
Thanks Sid! Cheers.
11-22-2008, 05:33 PM
#68
Instructor
Great thread here. I can add some info from my dealer visit today. We had a rally (about 12 cars) starting at the dealer in Nashua NH. After some good food and conversation we got the sales pitch. Everyone smiled, sighed and left. Since it's my birthday today I decided to see what the real deals were.
The sales manager informed me that the 2 remaining '08s on the floor were 15% off MSRP. One was a base C2 listed at $82K (for under $70K net) The other was a C2 cab in basalt black/sand with options, lovely car. The list was $94K and change, net price under $80K. I have an '05 C2S cab with 26K miles that's loaded. I wanted to see what I could get for mine, in case the delta made it worthwhile to trade up to new (except for the fact that I have a C2S and this was a C2). He gave me the speech about depressed trade-in values, etc. (proving the validity of likemystoppie's OP). Some number crunching later I was told $60K trade for mine, $79K sale price for the '08 C2 cab. My monthly payment would go up about $200/mo. I considered, looked at wife (who was my rally co-pilot on this day), and considered that either way the car was going to go into hibernation for the next 4 wintry months. We decided to "think about it."
Oh, every '09 on his lot (about 20) is 10% off MSRP. He also said that among his many used cars, most CPOs and all very nice, they "haven't opened a door on one of those in a month." Hard times indeed, leading to major reductions in list prices. Good time to buy (esp. if you don't have a trade).
I should add that my car was purchased for $72K in July, and I added about $3K in upgrades. (I know, I know, why trade in after only 4 months? Because these cars are so damn seductive, that's why!)
Gene
_________________________________________________
05 911 C2S cabriolet, arctic silver/black/full leather/chrono plus/nav/bose/tooki/sat/Porsche short shifter/SRX = exhilaration
01 MB E320 4Matic wagon, midnight blue/beige/E430 sport wheels = winter driver/summer hauler
08 Audi A3 3.2, S-Line/tiptronic/bose/sat/K40/black on black = wife's ride
The sales manager informed me that the 2 remaining '08s on the floor were 15% off MSRP. One was a base C2 listed at $82K (for under $70K net) The other was a C2 cab in basalt black/sand with options, lovely car. The list was $94K and change, net price under $80K. I have an '05 C2S cab with 26K miles that's loaded. I wanted to see what I could get for mine, in case the delta made it worthwhile to trade up to new (except for the fact that I have a C2S and this was a C2). He gave me the speech about depressed trade-in values, etc. (proving the validity of likemystoppie's OP). Some number crunching later I was told $60K trade for mine, $79K sale price for the '08 C2 cab. My monthly payment would go up about $200/mo. I considered, looked at wife (who was my rally co-pilot on this day), and considered that either way the car was going to go into hibernation for the next 4 wintry months. We decided to "think about it."
Oh, every '09 on his lot (about 20) is 10% off MSRP. He also said that among his many used cars, most CPOs and all very nice, they "haven't opened a door on one of those in a month." Hard times indeed, leading to major reductions in list prices. Good time to buy (esp. if you don't have a trade).
I should add that my car was purchased for $72K in July, and I added about $3K in upgrades. (I know, I know, why trade in after only 4 months? Because these cars are so damn seductive, that's why!)
Gene
_________________________________________________
05 911 C2S cabriolet, arctic silver/black/full leather/chrono plus/nav/bose/tooki/sat/Porsche short shifter/SRX = exhilaration
01 MB E320 4Matic wagon, midnight blue/beige/E430 sport wheels = winter driver/summer hauler
08 Audi A3 3.2, S-Line/tiptronic/bose/sat/K40/black on black = wife's ride
11-22-2008, 05:55 PM
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The sales manager informed me that the 2 remaining '08s on the floor were 15% off MSRP. One was a base C2 listed at $82K (for under $70K net) The other was a C2 cab in basalt black/sand with options, lovely car. The list was $94K and change, net price under $80K. I have an '05 C2S cab with 26K miles that's loaded. I wanted to see what I could get for mine, in case the delta made it worthwhile to trade up to new (except for the fact that I have a C2S and this was a C2). He gave me the speech about depressed trade-in values, etc. (proving the validity of likemystoppie's OP). Some number crunching later I was told $60K trade for mine, $79K sale price for the '08 C2 cab. My monthly payment would go up about $200/mo. I considered, looked at wife (who was my rally co-pilot on this day), and considered that either way the car was going to go into hibernation for the next 4 wintry months. We decided to "think about it."
11-22-2008, 06:45 PM
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Unless you're going C2 to C2S 997mkI then that makes sense.
Otherwise take an 09 at a sizeable price concession.
11-23-2008, 08:22 PM
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Great thread, I live in Japan but am in Sydney and London a considerable amount of time and buy cars in each location. In London in November I was offered a 335 coupe for 15% of RRP without even pushing for a discount. The dealer just wanted to know when I could make a deposit - this is after telling me for a good 30 minutes the market is picking up. In Sydney, my brother wanted a S3 - he is only mid 20's and the insurance for a P car worked out to be 5K a year so a no no. Anyways, whilst at the dealer, I mentioned I test drove in Japan the R8 and really loved it. Sure enough, the dealer offered me an amazing deal on the R8 - 10% discount!!!! Can you believe it! Gets better, my young punk cousin tells him give us 20% and we'll consider it - an hour later, I have 20% off - still not bought it since I got an even better deal from another dealer!! Here in Japan, my car has depreciated an additional 25% in less than 3 months. I guess now is not the time to sell but the time to buy. Things will turn around eventually just need to be patient.
Lastly, my mate who is the autotrade (director of a big German company) told me to wait until as late as possible in december to make a deal. In his words, we are all sweating now, in Mid to Late Dec we'll be pooing ourselves. I am going to get a R8. I reckon I will get 25% of the RRP.
Lastly, my mate who is the autotrade (director of a big German company) told me to wait until as late as possible in december to make a deal. In his words, we are all sweating now, in Mid to Late Dec we'll be pooing ourselves. I am going to get a R8. I reckon I will get 25% of the RRP.
11-23-2008, 08:31 PM
#72
Drifting
I agree. If you are considering a new car, December and June are good months as dealers are trying to increase their 6-month sales figures. If you could get 20% in November, I expect you could get more on Dec 31.
I'm not sure I agree that we'll ever recoup our high depreciation if/when the financial crisis turns around. People who bought discounted cars during this time won't feel bad about re-selling them at discounted prices when the time comes, since they'll be factoring their depreciation on a lower purchase cost.
Thanks for sharing your experience. With such a weird market, it is helpful to hear of actual situations.
I'm not sure I agree that we'll ever recoup our high depreciation if/when the financial crisis turns around. People who bought discounted cars during this time won't feel bad about re-selling them at discounted prices when the time comes, since they'll be factoring their depreciation on a lower purchase cost.
Thanks for sharing your experience. With such a weird market, it is helpful to hear of actual situations.
11-24-2008, 12:10 AM
#73
Porky, good info thanks.
I was in SoCal for 3 weeks in late Oct / early Nov and the few Audi dealers I checked in on were all asking over MSRP for the R8. Not sure if that was just grand standing as I was not looking to buy one but sounds like a vastly different situation to Japan. Although I suspect it is changing daily in the USA.
FWIW, a friend of mine was at a BMW dealer promo event in western Canada last week and apparently they sold 30 cars that evening. Another guy was trying to buy a new Audi and the dealer would not budge from MSRP (so he decided to get a Lexus instead). Sounds strange but maybe we are a little behind the rest of the world here (for now).
I was in SoCal for 3 weeks in late Oct / early Nov and the few Audi dealers I checked in on were all asking over MSRP for the R8. Not sure if that was just grand standing as I was not looking to buy one but sounds like a vastly different situation to Japan. Although I suspect it is changing daily in the USA.
FWIW, a friend of mine was at a BMW dealer promo event in western Canada last week and apparently they sold 30 cars that evening. Another guy was trying to buy a new Audi and the dealer would not budge from MSRP (so he decided to get a Lexus instead). Sounds strange but maybe we are a little behind the rest of the world here (for now).
11-24-2008, 12:32 AM
#74
Drifting
The So Cal dealers will likely be waking up to reality now, or soon. There are acres of new cars, including MBZ, at the Port of LA with nowhere to go. I'll be curious to see how the attendance at the LA Auto Show is this year, which started on Friday and runs through next Sunday (30th).