Topic: The car market is turning.

[revalations]

Been watching this nice Newmar class A diesel pusher for the past few months. Started at $119,000 (would’ve been a $350k unit new), now at $89,900. Coming into august he doesn’t have much more time to move it. From the buzz I hear in the industry, the RV dealerships are in huge trouble. They have big floor plans that have seen massive interest rate increases and they’re simply not moving product.

[ktm525]

Been watching this nice Newmar class A diesel pusher for the past few months. Started at $119,000 (would’ve been a $350k unit new), now at $89,900. Coming into august he doesn’t have much more time to move it. From the buzz I hear in the industry, the RV dealerships are in huge trouble. They have big floor plans that have seen massive interest rate increases and they’re simply not moving product.

Awesome. Can't wait to buy an adventure/off road  B class in a liquidation auction for $50k.

[sailor723]

I'm trying to buy a used boat and the prices haven't moved.

Must be localized to your area. US prices had dropped something like 10% year over year as of June according to one US report I read. Pricing around here (Maritimes/New England) has definitely softened although i wouldn't say it's by that much. 

[Seafoam]

Honda pricing seems nuts these days... idk why I'd buy a honda when a comparable toyota seems way cheaper.  Eg base highlander 48k vs 53k pilot and half a percent interest difference. 2024 odyssey starting at.... 54 k (wtf), and Sienna 45k as a hybrid

Generally pricing seems nuts... something has to give. I've noticed lots got WAY more full over the last month or so, local Ford dealer has 4 or 5 F150 Lightnings on the lot for example.

I don't see how this continues when the free money train has dried up and median family income is below 100k in this country.

Two very bad examples

Highlander and Pilot not remotely comparable.  The former being a 4 banger with slip and grip awd.

Lightnings BLOW.  Massive fail.

Also in the Toyota / Honda comparison you can probably buy a Honda now compared to a long wait for almost any Toyota. The Toyota maybe way cheaper but can you get one in a timely manner? At least where I live there is still not much Toyota inventory.  I wanted a Toyota Hybrid but was not willing to wait that long. Chose a Civic because I could actually get  it.

Other consumers may see it this way as well.

[Layne]

I'm trying to buy a used boat and the prices haven't moved.

Must be localized to your area. US prices had dropped something like 10% year over year as of June according to one US report I read. Pricing around here (Maritimes/New England) has definitely softened although i wouldn't say it's by that much.

I am in no rush and can wait.

[WP v3.32]

Been watching this nice Newmar class A diesel pusher for the past few months. Started at $119,000 (would’ve been a $350k unit new), now at $89,900. Coming into august he doesn’t have much more time to move it. From the buzz I hear in the industry, the RV dealerships are in huge trouble. They have big floor plans that have seen massive interest rate increases and they’re simply not moving product.

Awesome. Can't wait to buy an adventure/off road  B class in a liquidation auction for $50k.

Which auction?

I could used  a Navion

[ktm525]

Bank Repo or whoever clears out bankruptcies.

[revalations]

Bank Repo or whoever clears out bankruptcies.

Lots wind up at dealer auction. Travel trailers, RV’s, boats, etc

[WP v3.32]

Bank Repo or whoever clears out bankruptcies.

Lots wind up at dealer auction. Travel trailers, RV’s, boats, etc

I browse the auction website once in a while but never bought anything, except for some construction equipment.   I've been to Regal auction couple times but last time was at the end of Covic and there was much in there.

Most popular in Alberta..?
-Ritchie Bros
-REgal Auction
-Graham Auction

[Arthur Dent]

I browse the auctions everyone and a while. Seems to me deals are few and far between. I am shocked what people pay sometimes.

hibid.com
https://www.bidwild.ca/

are some others.

[WP v3.32]

I browse the auctions everyone and a while. Seems to me deals are few and far between. I am shocked what people pay sometimes.

hibid.com
https://www.bidwild.ca/

are some others.

did you see the gremlin on this one? 

[revalations]

I see special interest/collector type vehicles get better money at dealer auction than one could ever think getting retail private sale. Everyone thinks auction = bargains. Not so when two bidders get going on something they both want.

[WP v3.32]

There's a lot of truck on  kijiji... A LOT.

i'm tempting to go see what this goes for.

https://www.regalauctions.com/inventory/TRUCK/CALGARY/2021-RAM-1500-CLASSIC/74678.htm

[JohnnyMac]

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.

[WP v3.32]

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)

[JohnnyMac]

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.

[draghon]

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.

As long as they like the cars, going on 16+ years of running my honda into the ground 

[OliverD]

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.

[ktm525]

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.

[JohnnyMac]

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.