With everything going on do you think prices will go down? If so how much?

I have no idea... however, at year end when the new model year hits the lots is when you will be able to get your best prices of the year... but with that said... plenty of 2019 units still on the lots... so go figure...

Personally, I am shopping for a boat right now.... cash in hand... also waiting to see what bargins come around...

What kind of boat are you looking for?

In 50 years of buying vehicles I have never seen the price go down on new vehicles?

What about used trucks?

Everybody is driving a used truck.

Without exception...

There will be better incentives, but prices won't come down.

Saw a 2020 4 Door/4wd/full bed[6']-work series 1500 Silverado listed close by at $35,500 yesterday

I have been looking for the last two weeks. I had a pickup bought in Spokane. Worked with the salesman over email and settled on Friday night as far as price. Called him Saturday morning to make arrangements to send them PO. While I was getting the email address for the finance guy the salesman stops mid sentence and says he can't sell me the pickup because someone has come in to another salesman and is trying to make a deal. I told him we had all ready negotiated a deal and I was sending payment. Sales-manager told him I was out.

couple days later I was working with a salesman at a different dealership and we were going back and forth about price after trade in and he then tells me that a person just put a deposit on that pickup and I am out. I have had a couple other dealerships work with me, but their pricing is a joke and I thanked them and said goodbye. I figured that dealerships would be willing to sell some vehicles with this shutdown, but I am learning that is not the case. The other one that gets me is GM has come out and said they want to help us and is offering 84 months at 0%. I looked up the qualifications and it only applies to those WELL qualified customers. I called a GM dealer and ask about the 0% and he said it would take over an 800 credit score to qualify.

Just saw over my lunch break that GM was offering 84 month financing and will deliver a new truck to your door. Nice of them.

I seriously doubt that new or slightly used truck prices will fall much if any.

Seeing how they want as much for a new truck,I'll probably be driving my '90 F250 for the next 20 years as well!

I don't believe they will drop below what they normally offer. As inventory decreases dealers will hold out for money per unit simply because they can no long do volume sales.

Agreed - US auto makers have shut down a lot of production capacity, so there's not a glut of new vehicles to sell. It's a supply vs. demand kinda thing, ya know?

That said, I bought a new truck from the Lesser-48 at the end of 2019 and got a good deal - roughly 10% below employee pricing.

Dave Smith in Kellogg I dee ho! I haven't purchased from them, but family members say they are the best deal in the Northwest!

Their bread winner was internet sales. I sent them a request for a internet quote and they responded that Dave Smith motors does not do internet sales any longer.

That's who I went thru. Had the vehicle shipped to Seattle, then barged to Alaska.

You were in Spokane,, thats spittn distance!

MSRP won't change, but there will be deals. Neighbor just bought a new F250 gasser today. I don't have details, but his wife, told my wife it was a sweetheart deal.

Fugg those stealerships, especially GM stealerships. They are giving you the anal probe and shutting down the sale you are already engaged in and have negotiated. The stealership manager probably held off on the sale to see what type of bail out money or incentive was coming along, and not for someone buying the vehicle out from under you. I promise, there is no line of people rushing to dealers’ doors trying to buy $60k+ vehicles out from under you. Not too long ago they were offering $10k “off invoice” and 0%/72 month financing just to move the pos vehicles that they currently have sitting in inventory. Unless the truck you are buying is something very unique or limited production, there will be inventory available, even with the plants currently shut down. I would NEVER deal with a dealership like that, and it has happened to you twice already. Try a buying service like Costco and see what they can do for you. I can guarantee no sales manager will pull that garbage with them.

I just went through a similar situation with one of the boat owners I work with, who was going to take delivery of a new C8 Corvette. The car is built and sitting in a lot waiting for delivery. The stealership told him that they suddenly could not deliver the car for the price they quoted him, and the car price would now increase by an additional $10k. This on a car that cost $90k and that he had paid a deposit for back in August. What the stealership failed to understand is that this guy had previously purchased a number of corvettes through them, including two C7 ZO6s, an C6 ZL1, and a few top level Camaros as well for his kids.
He bought the C8 to drive until they produce a ZO6, that he likely would have ordered from them as well. He told them to go fugg themselves and keep the vette, as well as advising them they had lost a long time high end customer. They tried to sweet talk him and tell him it was a mistake, but he was having none of that. He said he sat down in the Sales Manager’s office, got a cup of coffee, and called one of the big name corvette dealers on speaker making a deal for almost exactly the same car for only $550 over what he would have originally paid. He said he did the whole deal on speaker with the stealership Sales Manager sitting there, and should have the car next week. Fugg them.

I’m driving a ten year old Silverado Z71. It’s been well maintained but used hard at times. It needs a couple of grand of normal wear maintenance and new tires. I’m at a point though that I can pay cash for something new instead if dealers start an “end of the world” sale.
I’ll probably regret it if I do. Sleep better at night feeling like we are better prepared than most. Having a shiny new truck isn’t a priority in my mind. BUT BUT BUT I want it.

Paying cash for NEW vehicles is a fools errand. Especially when 0% deals are around! I know many will say I'm wrong! The truck will decrease in value, the money will gain in value if handled correctly. Just saying!

When I see 84 month financing, I'm trying to remember any time in my life where I'd not have puked at the thought of making a payment on a 7 year old vehicle, even one that was running well & still looked decent.

My last GM, at 7 years old, had had the motor our 3x in their attempts to diagnose & stop an oil leak, and had myriad other [excrement] going wrong with it. I can't imagine still shelling out $500 or more every month while they were "fixing" it.

FC

Yes, the writting is on the wall. Chevy lease is below $100.00/month. GM & Ford catch a cold FCA will get COVID-19. My guess is a 10% reduction. The OEM's have lots of profit to work with on the trucks.

The auto manufacturers are not lowering prices, they are just extending the number of years of 0% financing

The prices aren't going down any. They're offering 84 months free financing with no payment for three months. The Ford place here is offering no payment for six months.

i live in Mi. and bought a new Ram pickup from Dave Smith Motors in Kellogg on Jan. 30. Bought it, flew out and drove it back way cheaper than i could buy here. Wonder why no more internet sales anymore?

In November, we purchased a Maroon 2020 Ram tradesman 2500 CC 4X4 6.4 w/4:10 gears and just about every option you can put in a tradesman for 36k...Take away the leather and heated seats and its optioned as nice as my buddies 2013 LTZ Chevy...

After putting a few grand down, I have a very manageable payment on 60 month financing (my choice)

Good deals and prices are out there....

That is all part of the dance. The OEM's will cut optional revenue streams first and move down to the bottom line. First subscription service, extended warranty, financing.... blood is in the water and the sharks are circling. The 36k RAM will go for 32K. Figure on 1k per month reduction.

Bingo!

Ford dealers did the same thing , on the Shelby 500 Mustangs. Its the dealer not auto manufacture.

Bought a new Tradesman 3500 SRW crew cab diesel with the 8’ bed in December. Got it for just under 46k. Last new truck I bought was the same thing, except in the SLT trim, back in 2005. Good deal then, too, got that one for 34k. 15 years later, same rig is 12k more. Everything goes up...

7k miles later, thing has averaged 21.5 mpg since I got it. Some interstate, the rest was city and back roads in hilly SW MO. Haven’t towed anything yet, but over 20mpg is not bad for combined driving in an 8,000 lb. 4x4. And it is unbelievable, like someone else says. I do not know what they put into the Big Horns and Laramie to make them worth thousands more. This truck has everything I could want, and some stuff I had never thought of, but now wonder why it never was put in a truck sooner...

My research has shown that the 0% is not that great of deal. I can get anywhere from $7,000 to $15,000 discount using my own financing. If you are getting a diesel, GM will give $3250 off of MSRP but that is the only discount you can look forward to. All the other discounts you see the dealers showing on their website disappear when you read the fine print on the 0% financing.

The prices aren’t gonna go down!

If a person can’t pay cash for a vehicle, they can’t afford it. It’s so easy a caveman can understand it.

It's not always that simple. For example if you have plenty of capital to buy a new vehicle yet it is tied up in a cash flowing asset, it would be foolish to sell said asset to buy a vehicle

No... Might be a bit more rebates available, but that's it...


Structured properly, you are 100% correct... However, there are circumstances when paying cash is the ONLY way it can be done - because the buyer may not have the means to pay monthly w/o employment and/or verified proper income... I was in F&I for 14 years and remember exactly those times...

No sales going on at my Ford dealership, only service department is open (essential) at this time.

If you have plenty of capitol but it is tied up, you don't have plenty of capitol. This goes back to the part where a savings account is a unicorn today. Finance guys can spin it anyway they want but in the end cash is king.

The fool is the one that doesn't think the finance charge isn't baked into the sales price. Nothing is free.

You forgot the cash flow part?

It ain't cash until it has been received as income. Most likely, after it has been taxed.
Future earnings are not counted as cash today. They are projections.
Good luck if that flow stops. Nothing is guaranteed. Watch the number of defaults we are about to see.

The auto finance sector has been in a bubble for some time. With the recession there will be a lot of defaults. People will pay rent before the car payment.

Yep.
And food/phones/booze/smokes/scratchoffs before rents.
It was difficult getting rents when times were good! So I bailed from real estate years ago.
Cash for vehicles. True freedom.

Did you pay cash for your house?

Just because you can pay cash,, doesn't mean its the wise thing to do! Thats so easy a cave man can understand it also! Hell buying a new vehicle, isnt the wisest thing to do! Losing 10 to 20% of value the first day you drive one, whether paid for with cash or not, isnt real wise!! If you own a business and have advantages might work, not for personal use!

The only way to make the truck prices come down is to quit paying the high prices they want. As long as idiots go down and pay $50,000+ for a truck then that is what they will charge. Make those trucks sit on the lots for a year and you'll see the price come down because they can't get stuck with the inventory or they have to pay taxes on it. As for me, the last new truck I bought was in 2002 and it was a stripped down Ford Ranger that only cost me $7011 total. I drove it until Oct 2019 when a fool texting and driving totaled it. I bought a used one to replace it. I also have a 2006 Ford Super Duty diesel that I bought used in 2010. I for one REFUSE to pay what they want for a new one. I also don't want a truck as fancy as they want to force me to buy. I like plain trucks and I like them with a manual transmission and they don't even want to offer me stuff like that. I don't need or want a Cadillac with an open bed which is what new trucks are.

If you don't want to pay the price for a new one, don't.

Lets use a simple example....

Say you have a $150k mortgage on your house at 4% interest.

You have saved $50k for a new truck.

The dealer has 0% financing on a new truck

The smart plan would be to buy the truck on credit and use the $50k to pay towards your mortgage, the numbers look even better if instead of saving the $50k you payed towards the mortgage as you went.

You would save 4% , now compound that and you have some real money.

Or you could pay cash for your new truck...... hmmmm

So it's not so black and white.... a million ways to skin this cat and everyone's needs and situation is different

84 month 0% on new Fords

No kidding? Wow, that's insightful!

The one I'm in now, yes. Don't worry, 401's and IRA's fully funded and still getting contributions.
Never bought a NEW vehicle until a previous home of mine was paid off, and then paid cash for the vehicle.
Funny, it is not so hard to save and then "loan" yourself money! LOL

Was thinking about getting a new sled then the virus hit. Ski Doo is offering an additional $500 on top of other incentives for snowcheck sleds, I imagine car manufacturers will be doing something similar, incentivewise..

What's missing here? The fact that USED is the way to fly until the roof over your head is owned fully. I have owned more outright pieces of crap that required a handy toolbox daily than Carter has liver pills.

This nationwide desire for latest-greatest in vehicles is what drives folks to bankruptcy and a life of debt.

Thank God my parents and grandparents taught me to go out and get dirty fingernails.

Dave Ramsey recommends you should not buy a new car until you are a millionaire.... I like Ramsey

Ok got it, let me rephrase the question, have you used a mortgage to buy a house?
It's easy to pay cash for a house when you sell a paid for house.

Mortgage on the first one. Ten years, done.
That was after an Army hitch and college. No loans there either. Worked. Paid as I went. And paid the mortgage fast. And drove embarrassing pieces of chit. Never had one stolen, broken into or had to pay outrageous insurance rates.

The home I'm in now we bought while living in another house paid for. Rented it out a few years when we moved here. So, there was no 1031 exchange or rolling over of sales proceeds.
We saved up for it.

WTM45,
You are a very disciplined saver, congratulations. Most could learn from your example. Well done

There have been LOTS of sacrifices. YEARS without vacations. Never been to Disney. LOL
I'm on my knees daily, thankful for my health and blessings received. I try to give when and where I can. But not to banks or lenders!

Not in my retirement home yet. Soon as we can, after taking care of our elderly parents, all money will buy a farm to be passed on to heirs and family. Wont be in this tax-gulag state I'm in now.

If I can make ONE suggestion to folks, it would be to STAY AWAY from car dealerships.

Understood, I have done much the same. I drove a 1970 Chevy 4x4 for 20 yrs. I was able to rebuild everything on it including the engine over the years.
Last month I bought my first new vehicle a Ram 3500 with a Cummins and a 20yr 200K warranty, I am 58 so it should last me forever.
Hard to change old habits though, I bought the tradesman package, $10 to $20K cheaper than the fancy models, yet still fancier than anything I have owned previous.

Tesla has the right idea. Get rid of the middleman crooked dealers entirely. Buy the car from the manufacturer. Unfortunately most states have laws preventing the manufacturers from firing their dealers.

Many a person goes thru life and spends more money on vehicles than any other thing they buy/own, and a very rich man I know told his brother one time that all any of them could do was get you from here to there, and you will ride cheaper on the Buick than the Cadillac.....he always drove a old Buick.

My new truck will tow 21,000lbs. that is more than just point A to point B

We have a lot in common! In 2017 I bought a 2017 Toyota Tundra, it was one owner used, sold to that original owner in Oct 2016 and he put on 20K miles. I got a great deal. Plan on it being on the road until at least 2027.

Grandpa told me, many years ago, "A fool will drive around in a brand new shiny vehicle, if he has to sit on his naked azz to do it."
Ha!

I figured prices would drop until Detroit shut the plants down and now I don't know. I'm pretty sure used private party prices will drop as people walk away from their expensive trucks with big payments.

I've wanted a new(er) truck for 10 years (I sold my 1995 Ford earlier this year) and we've been saving for one. I've spent quite a few nights on the Ram website surfing zip codes, looking for a truck with the options I wanted. I found one in Wyoming; 3500, Cummins HO, Laramie, Level 1 options with towing tech, safety and some other stuff. It was driven by the dealership and had a few miles on it. It looked good so I gave them my credit card number and put $500 on it. We drove over yesterday and picked it up. Since it had a few miles the price was the best I've found in the last few months I've been looking, even better than the guys in Kellogg and Caldwell. I opted for the 84 months at 0% interest. I told the finance guy I couldn't believe he was going to let me drive away with only $500 and a signature, he said "when people have credit scores like yours I never have to worry". The idea of having a payment bugs me but it's the only money I owe and the rate is 0%, and the money I saved for the truck will now go to investments. Hopefully this will be the last truck I ever buy.

Congratulations on the new truck. I've driven HD trucks for many years. One of the best maintenance items is rotating the tires regularly. The tires are expensive and the truck is a beast. Tire rotation pays dividends.

Bought my last truck about a year ago. A 3/4 Dodge diesel 4x4. It’s almost paid off.

Toyota here has shut down. Don't beleave auto mfg is an essential business. That may cause dealers to hold firm on prices.

Dealers are going to have trucks on their lots when the plants start back up. But, everyone who was laid off and didn’t have savings to make it through will now be in debt and not be looking to buy a vehicle. I’d suspect we’ll see more supply than demand. Buyers market in 3 months.

Love those trucks! Do you still have it?

Look at it from the dealers circumstance and act accordingly... play by your opponents rules..

They don't own anything on their lot... they have it financed thru the bank...

at the end of the month, they're interest payment is due...the long a vehicle sets on the lot, the more they have tied up
in their overhead.. so less profit, so they want it off the lot...

they also have quotas.. and when the market is slow, and they are meeting them they get real flexible...

Don't buy something thru the internet,.. they are going to make excuses to try and trick you into upping your purchase price..
they don't care if they back out of a deal.. only YOU think you have a 'done deal'...

do a little research... dealers typically have into most vehicles about 82-85% of the sticker price into a vehicle.. dealer price..

you show up last day of the month, face to face... have your financing all ready arranged thru your local bank...

go in about 3 hours before they close on the last day of the month....

Quota and results are breathing down their neck.. interest payment is due tomorrow..

They will have pressure to make a deal big time...if they don't show it, then they are over quota, so walk..

always be there face to face... they aren't going to pull this " well someone else, has offered a better price" if you are there to witness whether they are stating fact, or lying to you.. thinking you are a fish on the line.. as they always pull this crap at the 12th hour...that is their tactics.. don't play their game.. or it rapes YOUR wallet...

you be in control, instead of letting them be in control...last day of the month and last hours of the day, they have pressures that can quickly take away their mind games...don't make it an 'emotional" purchase.. those are they people they are trained to rape..

don't be afraid to walk.. that puts you in the drivers seat.. not them...

from their point of view.. they are the fisherman and you are the fish....don't play their games...

most recently I went thru this with one of my cousins.. his wife is the wheeler dealer in his family... she went back to the dealer, probably 3 times in 3 months.. last day of the month and last hours of the day...she was interested in a full loaded Accord, which wasn't moving.. after the third month, she told them she had a budget of $21,500.. the car she wanted was $33K on sticker..
salesman said they couldn't do that.. so she told him that was her budget and she'd keep looking..

he called her after they closed that day, was sitting in her drive way on their farm.. with the car she wanted, with the paperwork..
the dealer had told the sales rep, they'd take the offer, if she bought the car that evening.. they made the deal for $21, 500...

they asked her "NOT to tell her friends".....car had 500 miles on it, so the dealer had gotten some of his money using it as a demonstrator...new car warranty all the way...it was a 2019 and he 2020s were coming onto the lot....

Not being specific in any way, but there is a TON of misinformation in a TON of posts above.... Man alive.... Some very good posts - some just plain hilarious...

[quote=Capt_CraigI just went through a similar situation with one of the boat owners I work with, who was going to take delivery of a new C8 Corvette. The car is built and sitting in a lot waiting for delivery. The stealership told him that they suddenly could not deliver the car for the price they quoted him, and the car price would now increase by an additional $10k. This on a car that cost $90k and that he had paid a deposit for back in August. What the stealership failed to understand is that this guy had previously purchased a number of corvettes through them, including two C7 ZO6s, an C6 ZL1, and a few top level Camaros as well for his kids.
He bought the C8 to drive until they produce a ZO6, that he likely would have ordered from them as well. He told them to go fugg themselves and keep the vette, as well as advising them they had lost a long time high end customer. They tried to sweet talk him and tell him it was a mistake, but he was having none of that. He said he sat down in the Sales Manager’s office, got a cup of coffee, and called one of the big name corvette dealers on speaker making a deal for almost exactly the same car for only $550 over what he would have originally paid. He said he did the whole deal on speaker with the stealership Sales Manager sitting there, and should have the car next week. Fugg them.[/quote]

The guy you work with wins the award for champion BS'er of the year. To start with, how could he make a deal to order a $90K car without paperwork showing what he would pay for it when it arrived? Anyone with half a brain would insist of seeing paperwork showing the deposit and price of the car. All the big dealers were sold out of allocations months ago for a 2020 C8. There is no way in hell this guy made a phone call and has a car being shipped to him unless he is paying many thousands of dollars above MSRP.

Dodge did have employee pricing not too long ago.
Couple years back I got my ram 2500 Cummins 4x big horn quad cab for 45,5 from Dave Smith.

Ford doing 0% for 84 on 2019s or making the first three payments on a 2020 and allowing you to defer the next three has been moving a lot of vehicles here in NE. I think another reason is there are a lot of people "working from home" which must be code for "shopping for a new vehicle". They're making great deals but, other than the financing options, the prices haven't gone any lower than they were in Nov/Dec.

I'd like to buy a new truck, but it won't happen until the EPA drops the emissions mandates. I'll never buy something that will strand me on the side of the road because the exhaust fails exhausting.