40% of people willing to pay more for vehicle
- Thread starter odie
- Start date
. "Older shoppers—and specifically older male shoppers—[are] less willing to pay over sticker. These older buyers are a cohort we call 'Straight Shooters,' and they are experienced vehicle buyers, with plenty of good deals in their past. Paying above sticker is an unnatural act for this group."
They should just say the smart people.
They should just say the smart people.
Nick1994
$100 site donor 2023
These are the same idiots paying $100k more for a house than what it’s worth.
I don’t get it. I really don’t.
I don’t get it. I really don’t.
"Than its worth" to you.....
Doesn't the market dictate the value? JMO.
I agree regarding the insanity of the situation but if someone needs to move into an area for a new job, what are his options? Not take the new job, that might be insane too.
I think the new Vette gets a dealer markup, right?
And the Mustang Mach-E is in some locales.
They are paying over MSRP, not necessarily more than the car is worth.
It's called the market.
And the Mustang Mach-E is in some locales.
They are paying over MSRP, not necessarily more than the car is worth.
It's called the market.
They also say that a fool and their money are soon parted...
I have a need to buy a place in my hometown, but honestly, I think I'm sitting this out until the next crash; maybe I can get a more reasonable price from someone who overpaid for their place now.
About 7 years ago we were mocked by the sales person for inspecting the inside and outside of the new car we were going to purchase ( did ) . They stated " No one else does this " . Have found defects in and out of new cars from the factory . A few examples are , the hood of a Corolla was out of alignment and the front bumper an '15 FIT was sagging and had an large gap between the fender and bumper on drivers side . Sales people don't like buyers with knowledge of the vehicle(s) and buying process ( dealer discount , manufacture incentives , interest rate , etc. ) . So , not shocked .
. Have found defects in and out of new cars from the factory . A few examples are , the hood of a Corolla was out of alignment and the front bumper an '15 FIT was sagging and had an large gap between the fender and bumper on drivers side . Sales people don't like buyers with knowledge of the vehicle(s) and buying process ( dealer discount , manufacture incentives , interest rate , etc. ) . So , not shocked .
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What people are willing to pay is the definition of market value. No doubt.
But that perception of value has been distorted by fear and panic.
Toilet paper, ammo, gasoline, houses, cars, and others have all been affected by fear-driven decision making that has distorted the perception of value and the price that people are willing to pay as a result.
But that perception of value has been distorted by fear and panic.
Toilet paper, ammo, gasoline, houses, cars, and others have all been affected by fear-driven decision making that has distorted the perception of value and the price that people are willing to pay as a result.
Not necessarily when it comes to homes. Sure, the market will dictate the sale price, but the city/county will dictate the value of the home and property. We're seeing this more and more - the buyer and seller will agree to a price, the Assessor will come out and value it 50k less, then the contract has to be written in such a way that requires the buyer to cover a percentage of the difference up front. In a lot of cases, it is a deal breaker because the buyer can't cover the amount required on top of all other associated closing costs. One of my immediate family members is a realtor near me and according to them, this happens on a weekly basis.
Spot on. The market is affected (distorted?) by many things.
In marketing classes, they teach you that perception might as well be reality.
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Not only are they overpaying, but how many of them are buying new vehicles when they don't really need one?
I’m not sure where you live but the assessor is not involved in the sale of a home anywhere I’ve been. An appraiser (a private business) can kill a deal if the bank won’t lend enough but the tax assessor (a governmental position) doesn’t have any say in what 2 parties agree to.
Oklahoma, but I'm fairly certain this applies in most states - if an appraiser values a home too far below agreed sale price, it can absolutely impact the mortgage approval. You see it with negative equity in car loans, too. If the loan exceeds a certain percentage of the value of the car (depends on the lender, but usually around the 125%-130% mark), the purchaser will need to cover the difference in the form of a down payment to make the loan happen.
There isn't a vehicle that I would pay sticker price for.
53.9% of all statistics are made up.
Everything balances out eventually. I'm lucky I pulled the trigger on this fully loaded Kia after I sold my miata since I needed SOME pair of wheels. This was in December. For my 2019 miata vroom paid me nearly what I bought it for new minus tax. So I paid ~3 grand to drive the car roughly 18 months, which seemed asinine and insane to pass up (only had around 12k on it though). This was the begining of "sports" cars selling for ridiculous prices since supply had dropped due to dealer panic and quick sales. I was looking at prices on a Mustang GT, some dealers got close to what I want to pay, but I ultimately passed. Supply was too low. I almost pulled the trigger on a 2020 Camaro SS with dual mode exhaust out of AZ. Car was going for nearly 6-7k of MSRP, but I wanted a manual. For the time being I'm in no "rush" to buy anything. The camaro isnt a new car, so I'm sure I can find a deal later. I wanted something around 12-14k. I was about to pickup a 2018 Civic LX when I saw they just dropped the price on this kia another 1k. I had both cars "starred" on Cargurus. 500 dollar difference made it a no brainer.
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Our first and I think only new Corvette so far sold for double the MSRP. That was before the whole semiconductor shortage.
Perception can substitute for reality for a while, but eventually reality makes an appearance, not always at a convenient time! Over paying a couple grand on a car isn't big deal for anyone buying a new car though.
Up here the crazy house prices are a bit more of a risk with big mortgages which may see some higher interest rates and then huge payments... Time will tell.
And you don't even have to make 'em up because they can be twisted around to mean anything you want.
Trust me, I made a career of predictive analytics.
I will say this, I have been in a board room where someone was giving a presentation with gorgeous charts and all kindsa fluff. This really smart salesman was in the back, kinda sleeping. He raised arm and stated, "Cain't be." And then spouted out the reality. Jim was a pure Texan killing it in Silicon Valley; I never forgot that day.
