I have my mom in her 3rd new Kia in about 5 months this year. Just bought her 3rd Telluride at about MSRP +$4200 at a NJ dealer. It's cooling down for sure. We had turned down $5k over a couple times in the last week. Someone ordered this car and didn't know or didn't want to pay the $5700 markup they requested. Of course many of the inquires I've made in the last weeks have been dealers asking $8-$12k over. If we didn't fine one, we were going order as 2023 at MSRP locally. But no more nightfall edition and prices will probably go up $1k or so.
We lucked out on an MSRP cancel pickup in Virginia in the Spring and sold it shortly thereafter for 10k over to a dealer. That car is still for sale used at MSRP + $16k in Texas.
Her first Telluride was '20 that we sold for original MSRP + about $3500 which was almost all of the tax, etc. 22,000 miles.
After the 2nd Telluride, we bought a Sorrento PHEV at MSRP on another cancellation locally. Sold it to Carvana last week for $50.9k, about $1500 below MSRP but we keep the federal rebate so $1900 profit after all expenses.
We lucked out on an MSRP cancel pickup in Virginia in the Spring and sold it shortly thereafter for 10k over to a dealer. That car is still for sale used at MSRP + $16k in Texas.
Her first Telluride was '20 that we sold for original MSRP + about $3500 which was almost all of the tax, etc. 22,000 miles.
After the 2nd Telluride, we bought a Sorrento PHEV at MSRP on another cancellation locally. Sold it to Carvana last week for $50.9k, about $1500 below MSRP but we keep the federal rebate so $1900 profit after all expenses.
If I had a dollar for everytime I heard some guru say that over the last 60 years I could have retired a month earlier. Housing will continue to increase 15%/year, Used car prices will continue to be greater than new cars and both will increase 10%/yr, The stock market will grow 27% year over year indefinitely. Oh yea, salaries will only grow 6% until layoffs start and Social Security will dry up and be cut in the next 5 years.
