Car Enthusiast Thread

Jon

Mr. Tater
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So, I'm having a hard time believing this story, but just wanted to get everyone's opinion on this.

A friend of mine buys a new car every year. He's been doing that since the mid-sixties. Fast forward to the last ten years, or so. He bought a Corvette C7 every year you could get one: 14, 15, 16, 17, 18, 19. He was one of the few people in our area able to get a 2020 C8, a yellow one. He ended up not getting a 2021 C8 and opted to keep the 2020. Main reason behind this was the 2020's were released so late in the year, and took forever to get built. He did try getting a 2022 but, no dealer around here had any allocations.

So, I just had lunch with him. He had decided to go for a 2023 C8. The appraised price on his 2020 C8 (1LT, no options, low miles, retail $61k) ended up being $79k. I am just floored by this. Not only that, the dealer he is buying the 2023 from isn't charging a dealer markup. So, not only does he get his 2023 FREE, he doesn't have to pay any tax, AND gets a check for like $17-18k.

Not sure what to think but, I almost don't believe it and told him to get it in writing.

Thoughts?

Jon
 

lithy

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Is he trading in the 2020 now and waiting on delivery for the 2023?

Only thing I can think is that dealers are desperate for inventory,it still seems a little excessive, but I have no idea maybe grandpa that's about to die needs that Vette before he goes, damn the price.

I just looked since I have been curious for a while about our two purchases just before the Pandemic.

In February 2020, we paid just under $22k for a 2019 Ford Escape (new leftover/dealer loaner with 3k miles) and KBB thinks it would trade for just about the same now, over two years and about 20k miles later. With private sales a few thousand over that.

In March 2019, we paid $16k for a used 2014 Ford Flex with 80k miles. And today 3 years and 60k more miles later, trade says 8-10k but private sales around 13-14k for similar miles look common from a quick search.

It sounds like if you can get a new car, now is the time to do it. Used are at such a premium that I guess I can be moderately glad now that I had two cars (an 03 Taurus with 280k and an 09 Suzuki Aerio with only 100k) die on me in consecutive years).
 

Lastblade

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So, I'm having a hard time believing this story, but just wanted to get everyone's opinion on this.

A friend of mine buys a new car every year. He's been doing that since the mid-sixties. Fast forward to the last ten years, or so. He bought a Corvette C7 every year you could get one: 14, 15, 16, 17, 18, 19. He was one of the few people in our area able to get a 2020 C8, a yellow one. He ended up not getting a 2021 C8 and opted to keep the 2020. Main reason behind this was the 2020's were released so late in the year, and took forever to get built. He did try getting a 2022 but, no dealer around here had any allocations.

So, I just had lunch with him. He had decided to go for a 2023 C8. The appraised price on his 2020 C8 (1LT, no options, low miles, retail $61k) ended up being $79k. I am just floored by this. Not only that, the dealer he is buying the 2023 from isn't charging a dealer markup. So, not only does he get his 2023 FREE, he doesn't have to pay any tax, AND gets a check for like $17-18k.

Not sure what to think but, I almost don't believe it and told him to get it in writing.

Thoughts?

Jon
The dealership is giving your friend Fair Market Value on the trade-in but since he is a loyal customer/idiot repeat customer, they didn't need to mark it up since he will be back the following year.

It worked out for your friend this year, but he basically lost money every year prior. I doubt his one year of making money offsets all the prior years' loss.
 

Jon

Mr. Tater
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Posts
2,708
The dealership is giving your friend Fair Market Value on the trade-in but since he is a loyal customer/idiot repeat customer, they didn't need to mark it up since he will be back the following year.

It worked out for your friend this year, but he basically lost money every year prior. I doubt his one year of making money offsets all the prior years' loss.
Different dealership. I don't think he's done business with them before.

Yes, he was trading in his car for whatever new one he was buying. In the case of his C7's, he was paying like $10k every time to buy a new one but, getting $45-50k trade-in every time.

Whatever. It's his one hobby, in every other respect, he is a miser and a penny pincher.

Jon
 

Jon

Mr. Tater
20 Year Member
Joined
May 11, 2001
Posts
2,708
Is he trading in the 2020 now and waiting on delivery for the 2023?

Only thing I can think is that dealers are desperate for inventory,it still seems a little excessive, but I have no idea maybe grandpa that's about to die needs that Vette before he goes, damn the price.

I just looked since I have been curious for a while about our two purchases just before the Pandemic.

In February 2020, we paid just under $22k for a 2019 Ford Escape (new leftover/dealer loaner with 3k miles) and KBB thinks it would trade for just about the same now, over two years and about 20k miles later. With private sales a few thousand over that.

In March 2019, we paid $16k for a used 2014 Ford Flex with 80k miles. And today 3 years and 60k more miles later, trade says 8-10k but private sales around 13-14k for similar miles look common from a quick search.

It sounds like if you can get a new car, now is the time to do it. Used are at such a premium that I guess I can be moderately glad now that I had two cars (an 03 Taurus with 280k and an 09 Suzuki Aerio with only 100k) die on me in consecutive years).
Keeping the car until the 2023 comes in/is built. Production starts on May 9th, I think he said. Although, knowing Corvette, he probably won't receive it until early July. They really drag things out.

Jon
 

Lastblade

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Different dealership. I don't think he's done business with them before.

Yes, he was trading in his car for whatever new one he was buying. In the case of his C7's, he was paying like $10k every time to buy a new one but, getting $45-50k trade-in every time.

Whatever. It's his one hobby, in every other respect, he is a miser and a penny pincher.

Jon

In that case, I am surprised that dealer sold him a new car for MSRP. I am also glad there are people like him who buy new cars so we can buy them used later on.
 

NeoSneth

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I would feel out of place in a hot hatch these days.

I really like some of these non tesla EV's coming out, but I wonder what points of failure they intentionally put into their designs. Need to keep their dealerships busy. Plus, we know what kind of battery health we are getting with Tesla, but these other ones are big unknowns.
 

Lets Gekiga In

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I'd love to get an EV, but man they're simply out of my price range. I took a look at the Kia EV6 price and was flabbergasted.
 

voltronbadass

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Im goddamn angry at my E36 for feeling so fucking sorted after several years of struggling with it. These things are pretty wonderful trash, you just need to replace everything, constantly. Been taking it on spirited rainy day runs through the forest. You are so good I hate you e36.
 
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lithy

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Saw a Polestar 3 today, just in white, no camo. Looks like a regular West Virginia plate, not a Michigan manufacturer plate so I dunno what's going on, if it was privately owned or what. They don't really seem to even be available right now.

Supposed to start somewhere $60-80k, or maybe at $75k, depending on what sources you trust.
 

voltronbadass

nerdsigh
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Found a torn part of the carpet in the SC430. Thats always nice on your 30k mile survivor. My only guess is some broads heels dug in by the sill plate there when she was trying to get out drunk. I hope she faceplanted into the concrete.

Got some of those holley/morimoto retrobright headlights for the elky. Holy shit those have changed the game. Max 330 you need these.
 
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