Topic: The car market is turning.

[draghon]

Yeah, unless you really just want a new car there's no reason for turning either of those in.

Any idea how many KMs they have on them?

Checked the online inventory of the local Toyota dealer the other day, and they had a single new car listed: a Crown. They did have 40+ used cars as well. Drove by the lot yesterday after work and it certainly looked like they had nothing new. Used to be this dealer wouldn't even bother putting off brand used cars on the lot but these days they probably don't want to give up that profit.

Not sure on the km's, but I would think they'd likely be in that 80-100K range, so loads of life left in both vehicles.

I'd say Toyota dealers in general are the ones with the least amount of inventory out of all makers (outside of exotics of course).  Not saying they don't sell a decent amount of vehicles, just that majority of them are sold before they hit the lot.

My recent experience at one of the local Toyota dealership confirms this. When we picked up our new van at the end of June, there were no new cars on the lot and there were mayber 6 new cars in the showroom including our van. Every single one had a sold sign hanging from the rearview mirror.

[bridgecity]

Figured this would be the right place to put this.  So I have a neighbor friend who leased two Honda's 4 years ago next month.  They actually went from a Mercedes GLC to this, after only 2 year of ownership.  I called that being a bad idea from the get go. 

Anyway, we were talking and they haven't really thought about what to do next, even though their lease is up September 19th.  They have a 2019 Civic EX CVT and a 2019 Accord Touring 1.5T.  Just had a peak to see how much these two vehicles are nowadays.  My good gracious they have gone up.  So a 2024 Civic EX is a full $7,300 more MSRP, that's not factoring in the higher destination/delivery and interest rates.  The 2023 Accord Touring is a full $10,300 more MSRP!  Needless to say I'm telling them the best thing financially is to buy out both from the lease and run them into the ground.

the Dealer is probably salivating at the idea of receiving these 2 for trades.  I would buy them out too,  can they usually to  the buy out process directly with Honda Canada? (not needing a dealer)

I think there is a whole process when buying out a lease, and I tend to think it almost always happens through a dealer.  There are some smaller fee's for the processing and what not, but I'd assume the buy out is WELL below market value.  Now the interest rate on a used one is likely more than new, so over 8%, but still, I would think it's a fraction of what the cost of buying new would be.

I bought out a Civic back in 2010.  No dealer was involved, only Honda Finance.  Mind you, that's 13 years ago.

[WP v3.32]

Dealer is going to try to get in the middle but the lease is between the lessee and and the lessor.. Dealer will be pissed.

Yeah I remember reading about this here when the guy who mostly posted in the upside-down thread(can't remember his name).  it had nothing to do with the dealers but the loan/bank. 

[PJungnitsch]

Yeah, unless you really just want a new car there's no reason for turning either of those in.

Any idea how many KMs they have on them?

Checked the online inventory of the local Toyota dealer the other day, and they had a single new car listed: a Crown. They did have 40+ used cars as well. Drove by the lot yesterday after work and it certainly looked like they had nothing new. Used to be this dealer wouldn't even bother putting off brand used cars on the lot but these days they probably don't want to give up that profit.

Not sure on the km's, but I would think they'd likely be in that 80-100K range, so loads of life left in both vehicles.

I'd say Toyota dealers in general are the ones with the least amount of inventory out of all makers (outside of exotics of course).  Not saying they don't sell a decent amount of vehicles, just that majority of them are sold before they hit the lot.

My recent experience at one of the local Toyota dealership confirms this. When we picked up our new van at the end of June, there were no new cars on the lot and there were mayber 6 new cars in the showroom including our van. Every single one had a sold sign hanging from the rearview mirror.

You never know.  I was coaching my stepdaughter in Vancouver last week as she needed a replacement quick for her old Tiguan

Used prices of everything are still way high so she was looking for a lower trim small SUV from a reliable brand. She'd driven our Crosstrek and liked it, but wanted something taller like her Tiguan but smaller than a Rav4. I suggested Forester, CX-5, and HR-V. She suggested Corolla Cross as well, I agreed but thought there was no way she'd find one to even try

Subaru: Only a demo Forester in stock, avail in 6 weeks with very little discount. Touring trim is a big jump up in price from the base, and there was a few grand of extras on the quote too, so it got expensive with BC taxes

Mazda: Salesman wouldn't let her even drive a CX-5 without signing up for financing, and only upper (expensive) trims were in stock

Honda: The upper trim HR-V's in stock were also expensive, and came with 3 grand of 'extras' on top

Toyota: She asked anyway, and one Corolla Cross had been delivered 5 minutes before she inquired. She test drove it, liked it, the price was list, and that was basically that. Loves it so far.

[ktm525]

Yeah, unless you really just want a new car there's no reason for turning either of those in.

Any idea how many KMs they have on them?

Checked the online inventory of the local Toyota dealer the other day, and they had a single new car listed: a Crown. They did have 40+ used cars as well. Drove by the lot yesterday after work and it certainly looked like they had nothing new. Used to be this dealer wouldn't even bother putting off brand used cars on the lot but these days they probably don't want to give up that profit.

Not sure on the km's, but I would think they'd likely be in that 80-100K range, so loads of life left in both vehicles.

I'd say Toyota dealers in general are the ones with the least amount of inventory out of all makers (outside of exotics of course).  Not saying they don't sell a decent amount of vehicles, just that majority of them are sold before they hit the lot.

My recent experience at one of the local Toyota dealership confirms this. When we picked up our new van at the end of June, there were no new cars on the lot and there were mayber 6 new cars in the showroom including our van. Every single one had a sold sign hanging from the rearview mirror.

You never know.  I was coaching my stepdaughter in Vancouver last week as she needed a replacement quick for her old Tiguan

Used prices of everything are still way high so she was looking for a lower trim small SUV from a reliable brand. She'd driven our Crosstrek and liked it, but wanted something taller like her Tiguan but smaller than a Rav4. I suggested Forester, CX-5, and HR-V. She suggested Corolla Cross as well, I agreed but thought there was no way she'd find one to even try

Subaru: Only a demo Forester in stock, avail in 6 weeks with very little discount. Touring trim is a big jump up in price from the base, and there was a few grand of extras on the quote too, so it got expensive with BC taxes

Mazda: Salesman wouldn't let her even drive a CX-5 without signing up for financing, and only upper (expensive) trims were in stock

Honda: The upper trim HR-V's in stock were also expensive, and came with 3 grand of 'extras' on top

Toyota: She asked anyway, and one Corolla Cross had been delivered 5 minutes before she inquired. She test drove it, liked it, the price was list, and that was basically that. Loves it so far.

The Corolla Cross is taller and larger than a Crosstrek?

[PJungnitsch]

Taller at least. I'm thinking it's pretty close to a CX-5 in size and shape

[ktm525]

corolla cross  is 1" shorter and 1" taller than a crosstrek

[Hammy]

My wife's 2021 F-150 Lariat Sport three year lease is up in February and the buyout is just under $40k.  I just checked 2023 F-150 Lariat similarly equipped dealer prices and they are north of $80K before tax.  Wow, prices really have ramped up in the past few years, and no decent discounts to be found. I guess we'll be buying that sucker out for sure, it is a great vehicle.

[ktm525]

Cruised through a Chevrolet dealer while waiting on a windshield install a few blocks down. Wall to wall Silverado's. Fancy, huge and expensive.

[WP v3.32]

Cruised through a Chevrolet dealer while waiting on a windshield install a few blocks down. Wall to wall Silverado's. Fancy, huge and expensive.

Chevy lot in Okotoks is also full and looks like it's all new. 

[Great_Big_Abyss]

Cruised through a Chevrolet dealer while waiting on a windshield install a few blocks down. Wall to wall Silverado's. Fancy, huge and expensive.

Chevy lot in Okotoks is also full and looks like it's all new.

Eventually the prices of those Chevy's and Ford's will have to come down if they want to move some iron (or aluminium)

[ArticSteve]

Considering these 1/2 tons are purchased via a declining currency one should not hold their breath about future price breaks.  There might be deals in the short term vis-a-vis captive financing, but eventually the companies will just pull back on production.

The UAW has targeted FORD for this BIG 3 showdown that's been brewing for a while.  Really not a great time for a strike when buyers are pulling back primarily due to interest rates. 

We are in the final stage of the greatest debt cycle the world has experienced.  The bills are now coming due.  It's called inflation.  Interest rates are not reversing.

Vehicle wise I have some protection for the next few years and then WAMMO.

The MDX has 2 more years left on the lease at 3.9%
The Armada has 2 more years left on the lease at .9%
The Tremor has 3.3 years left on the lease at 3.9%

[ktm525]

Considering these 1/2 tons are purchased via a declining currency one should not hold their breath about future price breaks.  There might be deals in the short term vis-a-vis captive financing, but eventually the companies will just pull back on production.

The UAW has targeted FORD for this BIG 3 showdown that's been brewing for a while.  Really not a great time for a strike when buyers are pulling back primarily due to interest rates. 

We are in the final stage of the greatest debt cycle the world has experienced.  The bills are now coming due.  It's called inflation.  Interest rates are not reversing.

Vehicle wise I have some protection for the next few years and then WAMMO.

The MDX has 2 more years left on the lease at 3.9%
The Armada has 2 more years left on the lease at .9%
The Tremor has 3.3 years left on the lease at 3.9%

Yeah I was thinking the same thing as I wrote a big cheque for a motorcycle today. Canadian dollar likely moving to 1.4 ratio vs the US and they are already sold cheaper here than in the states. Inflation will just keep moving up. Best to invest in iron lol.

[ArticSteve]

Congrats on the purchase.  These thing must be done.   That's what I tell my wife     Most "citizens"  don't understand that some "hard asset" acquisitions, in times of extended inflation, are actually an appreciating asset.

This is why I'm spending a ridiculous amount of coin on a new Fisher.  Boat is American, engine is American, trailer is American, hydraulic steering is Chinese     All these units are imported and a nasty price increases are guaranteed.  Ironically, the majority of "citizens" have been programmed to think Canadian oil is DISGUSTING.  The only thing that's holding the loonie from hitting the high 50's is Canadian OIL.  This country is in for a major economic restructuring and not in a good way.

Message to Johnny; BUY NOW! 

[WP v3.32]

only  51% off   

[ktm525]

only  51% off   

Offer Canadian at par. These rolling junk wagons will be pennies on the dollar. Just need patience.

[Fobroader]

Wife and I went to an RV dealer a few weeks ago.....why are all RVs built by wish.com?!?!! Just hot garbage when it comes to quality. No matter if its a $20k rig or $200k, still just poorly screwed together with cheap materials. Salesmans excuse, "oh, its because of weight". I'll gladly take something a few hundred lbs heavier thats got the appropriate amount of hardware, glue and real wood.

[WP v3.32]

Wife and I went to an RV dealer a few weeks ago.....why are all RVs built by wish.com?!?!! Just hot garbage when it comes to quality. No matter if its a $20k rig or $200k, still just poorly screwed together with cheap materials. Salesmans excuse, "oh, its because of weight". I'll gladly take something a few hundred lbs heavier thats got the appropriate amount of hardware, glue and real wood.

Yeah I assume quality took a big hit on the last couple years,  not that it was stellar before.  I don't know much about RV brand and quality but I think there's only few good ones out there.   Airstream, Escape...

[ktm525]

Wife and I went to an RV dealer a few weeks ago.....why are all RVs built by wish.com?!?!! Just hot garbage when it comes to quality. No matter if its a $20k rig or $200k, still just poorly screwed together with cheap materials. Salesmans excuse, "oh, its because of weight". I'll gladly take something a few hundred lbs heavier thats got the appropriate amount of hardware, glue and real wood.

It's why I like B class. The exterior is just a van. All the crap inside will rattle apart.

I am at the point where I might just buy a cargo van and insulate it. Throw a decent camping cot in it and a cassette toilet or a bumper dumper. The rest is just overpriced crap stuffed in there.

[Fobroader]

Wife and I went to an RV dealer a few weeks ago.....why are all RVs built by wish.com?!?!! Just hot garbage when it comes to quality. No matter if its a $20k rig or $200k, still just poorly screwed together with cheap materials. Salesmans excuse, "oh, its because of weight". I'll gladly take something a few hundred lbs heavier thats got the appropriate amount of hardware, glue and real wood.

It's why I like B class. The exterior is just a van. All the crap inside will rattle apart.

I am at the point where I might just buy a cargo van and insulate it. Throw a decent camping cot in it and a cassette toilet or a bumper dumper. The rest is just overpriced crap stuffed in there.

Yeah, Class B seems the safest bet....I like the build your own route as well. Especially if I can go the Quigley route and convert a GMC/Chev full size van into a 4x4. All the reliability, V8 power, cargo van simplicity and I don't feel like I'm wasting money on extra fluff for no reason.