31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums

2 things that would be more important to me if buying a new car would be is, if financed how much is the loan value on a car. And how much will an insurance company pay for a given car. Just because you are willing to overpay for a vehicle, your ins company has a set value it's willing to pay on a claim.,,
Yes- but in a normal market how much does it depreciate in a year? You total the vehicle at the end of 12 months you ( generally) are not coming out ahead.
 
On another board I frequent, this has been an ongoing discussion as there were several folks that were dipping their toes in. Here is a sample true life example:

So we also looked at XYZ Toyota (a national chain dealer) earlier this morning at a couple Camrys. Here are some dealer add on cost to buy a car. Sales person said they were not negotiating those fees. These were over the top. Sales person said we now get 50 cars and not the normal 175 to 200. Said dealership has to do something to keep the lights on. As follows for car with a MSRP $38,907.00

199.00. Nitrogen
299.00 Lumar Hood Lip Only
299.00 Lumar Protection Mirrors
299.00 Door Edge Guards
699.00 Tinted Glass 4 Windows
1495.00 LoJack
2595.00 Ceramic Coating
699.00 admin fees

Now that's a slimeball dealer! The only reason to buy a Camry is the value proposition, paying MSRP plus all that crap that has literal zero value completely destroys any reason to buy one.
 
Yes- but in a normal market how much does it depreciate in a year? You total the vehicle at the end of 12 months you ( generally) are not coming out ahead.
I agree. But you should have enough insurance to pay the car off, in the event it's gets totaled. The ins co will look up it's current value, and work from there. But if you decided to pay way more that what book value says it's worth, you may wind up still making payments to the bank, on a car you no longer have.,,
 
On another board I frequent, this has been an ongoing discussion as there were several folks that were dipping their toes in. Here is a sample true life example:

So we also looked at XYZ Toyota (a national chain dealer) earlier this morning at a couple Camrys. Here are some dealer add on cost to buy a car. Sales person said they were not negotiating those fees. These were over the top. Sales person said we now get 50 cars and not the normal 175 to 200. Said dealership has to do something to keep the lights on. As follows for car with a MSRP $38,907.00

199.00. Nitrogen
299.00 Lumar Hood Lip Only
299.00 Lumar Protection Mirrors
299.00 Door Edge Guards
699.00 Tinted Glass 4 Windows
1495.00 LoJack
2595.00 Ceramic Coating
699.00 admin fees
Dealers have a reputation for being slimy and this just solidifies that premise. A buddy of mine just bought a 2023 Ford F250 premium for a boat load of money and the dealer added that junk on there as well. He didnt like it, but he paid it.
 
On another board I frequent, this has been an ongoing discussion as there were several folks that were dipping their toes in. Here is a sample true life example:

So we also looked at XYZ Toyota (a national chain dealer) earlier this morning at a couple Camrys. Here are some dealer add on cost to buy a car. Sales person said they were not negotiating those fees. These were over the top. Sales person said we now get 50 cars and not the normal 175 to 200. Said dealership has to do something to keep the lights on. As follows for car with a MSRP $38,907.00

199.00. Nitrogen
299.00 Lumar Hood Lip Only
299.00 Lumar Protection Mirrors
299.00 Door Edge Guards
699.00 Tinted Glass 4 Windows
1495.00 LoJack
2595.00 Ceramic Coating
699.00 admin fees
***** @2595 for ceramic coating .300 for mirror caps covered .insanity
 
I almost always buy a CPO car- usually one coming off a 2-3 year lease. The last time I bought new was my Mazdaspeed 3 back in 2007. I paid MSRP with no add-ons. At the time most dealers were tacking on a $2,000-$4,000 “Market Adjustment.”
 
They slow production and not have issues because the units they are producing are the high profit higher option units people will pay more for

MSRP has gone up a ton over the last few years as well

Dealers and the manufacturers aren’t hurting even at lower volume
 
I agree. But you should have enough insurance to pay the car off, in the event it's gets totaled. The ins co will look up it's current value, and work from there. But if you decided to pay way more that what book value says it's worth, you may wind up still making payments to the bank, on a car you no longer have.,,
When I was an automotive claims adjuster, we never used book value. We always used actual cash value (ACV). The company would determine the ACV of a vehicle based on what similar vehicles were selling for in the area where the insured lived. Sometimes the ACV was flexible depending on if the insured's vehicle was a really clean low mileage example, but otherwise we paid out a set range based on values we found in that area. Some people made out decently, others were in a bind because they owed way more on the vehicle loan than the vehicle was worth, and in that case only gap insurance would fix that. The insurance company never cares how much you paid for the vehicle, since the policy (unless you have a special pre-determined amount that you insure it for) only covers what the insurance company determines is the value of the vehicle. The company I worked for and the other companies we worked with all operated this way.
 
I think people are still paying over MSRP out of desperation. After putting it off for like 3 years how much longer are people going to wait? Average age of vehicles can only go up so far.
 
Re: the article, the cars top 10 listed selling over MSRP are so limited in volume, I can call that article "click bait".

In Canada new car inventories are adjusting rapidly with more supply. Seeing deep discounts on new pickups of 15% and more.
Toyota is still production constrained, my suggestion is shop elsewhere.
Chev has quite a bit of supply as well. The small car market will not see better than MSRP as the supply is just not there any longer, as markets have changed.
In Canada, 85+ of new vehicle sales are CUV, SUV or trucks.
Had a trade in last week of a Jetta and Tiguan, both low kms, both in mint condition. They traded both in on one Ram, just tired of dealing deal with the poor visibility seeing over snow banks, at intersections with the sedan.
 
It's quite easy to stand up and walk away if you feel you're getting screwed. If enough people would do that, this type of nonsense will end.
Ah, the old supply and demand issue. Supply is limited. Demand is high. Prices go up. Yeah, people know that they're getting screwed but they need/want a new car. The supply at my local Toyota dealer is so limited that only the few folks with high demand are buying.
 
I love motorcycles, but let’s be real here, it is not a replacement for a commuter for most people. It’s a nice addition, but a sole mode of transportation? Nope, I would not do it. I’d rather have an old beater car, then commute only on a motorcycle, even if it was a top of the line, brand new tourer with all bells and whistles.
 
Ah, the old supply and demand issue. Supply is limited. Demand is high. Prices go up. Yeah, people know that they're getting screwed but they need/want a new car. The supply at my local Toyota dealer is so limited that only the few folks with high demand are buying.
Yep they do, and if people are willing to pay a market adjustment price dealer rip off fees and add ons, and not shop around they shouldn't complain.
 
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