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Personal Finance (Not Investing) • Auto finance rates - my word

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If you’re a buying a dime a dozen car every 10 years sure. If you want a hard to get 911 ordered at MSRP when they’re selling for $25-50k over sticker used then you’re going to have to build that relationship. Some dealers play the game of selling the car at MSRP but you have to buy $10k in extras like PPF/ceramic coating/etx. Obviously that isn’t the same for a “regular car” but everything is not always so cut and dry is my point. Just the way it works when supply is limited. I’m a man of my word so if I agree to a deal on the condition that I have to finance the car for 3 months and eat a few hundred bucks in interest I’ll do it.
If they are selling for that much over sticker price its not the time to buy a car. If they want to play games with extras I walk out of the dealership and go elsewhere. Cars are no different than houses, when you develop irrational emotional attachments to a certain one you might get what you want, but you will not get a good financial deal. Doesn't matter what relationship you have with the dealer, they are there to make money, not help you save.
The market is what it is, and it’s been that way for many years with certain types of cars even before Covid. 6 year old GT3s are still selling over their original sticker prices. 9 year old GT4s are selling for their original MSRP. Obviously that’s not a $30k Camry or a $70k BMW, but anyone who bought one for MSRP 6 years ago has been driving it for free ever since and probably still has some built in equity over sticker. No dealer relationship = no MSRP high demand car. You don’t have to agree with it, but for those in the market sometimes the juice is worth the squeeze.

For a more extreme example, a Ferrari 812 GTS sells for $100-150k over MSRP used and the special edition sells for about $600k-800k over its original MSRP. You don’t get to buy one at MSRP without a dealer relationship. But if you have the money and the relationship, you can put a few thousand miles on it and still make a six figure sum in profit. Is that risky? Sure, the market for anything can take a downturn. But if cars are your thing then sometimes it’s worth the hassle. This does not apply to mass market high production cars, I’m talking about low production high demand sports cars generally.
:shock: :twisted:

Statistics: Posted by Derpalator — Thu Apr 18, 2024 12:13 am — Replies 51 — Views 3081



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