81cpcamaro said:The Chevy dealer I bought my Cruze from, sent an email stating they now have a delivery service. Now you can buy a new car and have it delivered without leaving home, doing all paperwork online.
Probably not Corona related, just following the carvana model- which is awesome.
Mndsm said:81cpcamaro said:The Chevy dealer I bought my Cruze from, sent an email stating they now have a delivery service. Now you can buy a new car and have it delivered without leaving home, doing all paperwork online.
Probably not Corona related, just following the carvana model- which is awesome.
It's Corona related, they're all doing it to try and alleviate fears at the moment.
I think there will be some deals on our usual used car fodder in about 6 weeks to two months.
eastsideTim said:TasdevEngineer2of3 said:I wonder what the banks and credit unions are doing on car loans. Late last week a friend tried to get a loan for a used, high end motorcycle (at a very reasonable price) - they said yes but at an interest rate that said no. If I remember correctly - about 9 percent higher than "normal". Yea I know that motorcycle loans can be more expensive than car loans. With the Fed bringing the prime close to zero, one would think the banks would be interested in making loans.
Anybody else experience this?
Some power sports loans are not traditional vehicle loans, and are more like getting a credit card, then paying it down. Wonder if that was the cause for the higher interest.
As for the Fed rate not affecting consumer-level loans, they are also having to take into account the risk of not getting repaid, risk of greater inflation, and the risk of rates going up before the loan is paid off, so the prime rate won’t always have a direct effect on anything with a longer term. I think at some point in the past it may have had the opposite effect.
Probably not super relevant, but I'd read somewhere that mortgage lenders are moving slowly in rate reduction to manage their ability to process the pipeline.
No rate reduction yet according to my mortgage broker
Finally found a truck to buy for LS swap I've been planning. But it seems like now just isn't the time to be spending my saved money to buy a project car.
Saw an ad for new GM trucks yesterday. Zero percent financing and no payments for 4 months.
A quick search indicates that most of them are doing something
Here is a quick summary of what major automakers are offering consumers in light of the coronavirus pandemic:
I see cars for sale at prices that are very attractive to me. However, I'm very leery of doing any sort of fly and drive. At least right now.
Am I the only one with this fear?
In reply to jimbob_racing :
I sincerely hope not.
Here in PA the dealers are shut down. Repair is still allowed. I don't know how this is worked out on the dealership level.
I'm guessing the stay at home orders apply to private auto sales?
This topic has been inactive for a month, so I thought I would bump it up to see what people are thinking now that we are farther into this thing.
I'm not really looking for a new car, but if prices plummet, I could be. Traditionally, I have owned mid-90's sedans (camry anvils) and they have been wonderfully reliable and easy to work on. BUT, they are now 25(!) years old and have between 175-200K miles on them. Plus, I bought them for the years when my kids were learning to drive and on into their college years. Once I am near or at the end of that period, maybe I want to dump these door-dinged, bumper battered vehicles for a single, new, reliable (?), but maybe harder to work on, vehicle. Heck, if I get 5-8 trouble-free years out of a new car, I could be working on fun cars instead.
But, maybe I don't wait for the final 3 college years to pass before getting a new car IF CV-19 deals are near at hand.
GRMs review of the 2020 Civic Si makes it pretty tempting, and SWMBO just might buy off on a new car if it checks the 4-door sedan, Toyota/Honda boxes.
Is anyone seeing or expecting the big deals to show up?
I just bought a new Ford. The discounts, and finance deals they're offering now are pretty hard to beat! The showroom was appointment only, and a lot of the paperwork was done online. They were disinfecting everything after each customer. It was actually very convenient!
Saron81 said:They were disinfecting everything after each customer.
I think there's a sleazy car salesman joke somewhere inside this statement.
In reply to pheller :
Money is about to get even cheaper as Wall Street will demand negative interest rates from the Fed so they can continue the stock-buyback scheme. Since at that point banks wont be making any money off personal loans anyways, they will probably get picky about who they give this free money to. So, "Free Food" but "YOU" cant have any.
I had the MGB GT for sale figuring it was around tax return season and was getting steady nibbles, but it stopped dead the day lock downs got announced. Took it off the market cause I don't care to deal with bargain hunters.
I have had the idea to take some of my fun money and do some bargain hunting of my own once the misery really starts to hit hard in about 5 weeks time, but it is so against my nature to take advantage of others misfortune that I probably wont.
So if everything else is getting cheaper, when will the price of NA Miata hardtops start dropping?
I'm still waiting.
Working at a GM dealer, sales have been running strong despite the fact that half of sales is working from home and customer's can't come look at or test drive vehicles before buying them
I have a friend at VW in town and sales have been great this month. They have no payments for 6 months and 5 year 0% loans which probably help.
If you can swing it financially, I think this is a pretty solid time to buy or at least look.
Supply is falling fast, prices will start to rise soon, especially on 1-2 year old used. A buddy was trading a 2016 Panamera 4 weeks ago, and was offered $72,500. Same dealer just called him and told him $76k as their Porsche location can't get new ones.
NOHOME said:it is so against my nature to take advantage of others misfortune that I probably wont.
I find myself initially having the same thought as you but after additional consideration, I change my position.
What outcome is the seller likely to have if you don’t buy their item at a discount? In other words, what are the odds that they get a better deal later & what are the odds that the better deal will materialize before something bad happens (foreclosure, eviction, repossession, etc.).
Here’s a win-win…offer the seller a lowball price, acknowledge that under normal conditions the item would be worth more, and tell them that you’re providing a standing offer that can be executed any time for some defined period. i.e., I’ll give you 3K for your 5K item and I’ll give you two weeks to try to get a better price.
Now, the seller has the piece of mind of knowing that they can immediately convert their item into 3K and if they wind up not being able to do better, they’ll have some reassurance that they got the best possible deal under the circumstances.
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