Dealer Adds $20,000 "Market Adjustment" to $32,940 Maverick

[canyonslicker]

Good to hear one person was respectful, usually all it takes...

Yeah but Dennis Rodman!?!? Came off like a total entitled Ahole but became a normal person after my wife scolded him.. good thing!!!

Sponsored

 

[deleriumtremor]

Yeah but Dennis Rodman!?!? Came off like a total entitled Ahole but became a normal person after my wife scolded him.. good thing!!!

That didn’t come out right at all.

Sorry.

Bad attempt at making light of having to go a few falls with Dennis Rodman, if things went another way.
Didn’t work.

 

[DonB]

So let's say I pay the 52 K , drive it off the lot and total it in a crash, insurance pays what the truck is worth , 30 K , where the other 22 k come from ?

That's a perfect example for Gap insurance.

 

[NotBudule]

That's a perfect example for Gap insurance.

How does the gap Insurance guy keep a straight face and not bust out laughing when somebody asks to Insure a 30K Maverick for 52K ? I hope the rate on that is just as insane as the dealer markup ...

 

[WhiteRangerDanger]

I know some of you have said you would never pay retail or above MSRP but sometimes you do. So I live here in Cali and in 2016 I was looking into a GT350 but all were 15-20k over MSRP. After 4 months, i found one in Kansas for MSRP, jumped on it, got it delivered, end of story. ?

 

[Ranger3]

Are u guys kidding? Some clown will purchase this...Haven't we learned how dumb and stupid the people of this country are? Someone just bought a house around the corner from me for almost 600,000 with no backyard and only 1 floor....it's not worth 300......

 

[NotBudule]

Saw this on the lot yesterday...
https://www.toddjudyford.com/new/new-vehicle-inventory.html?reset=1&conditions=new&natural=Maverick

 

[ControlNode]

I wanted to get a Focus RS back in 2017, but it had markups of around $15k pretty much everywhere. Ended up with a Fiesta ST instead.

Did the same! Bought it way under MSRP too.

I've never paid retail for a vehicle. And l want to say I never will.

I started talking to local dealers about the RS as early as April 2015 about wanting to order the car. I was very clear that if they wanted any markup over MSRP I was going elsewhere. The primary dealer I was working with ended up wanting $5k over once Ford announce official pricing, so my order and deposit were made at a different dealer for MSRP a week before the order banks opened for the car in Oct of 2015. Got my RS in June of 2016 for MSRP. All of the new cars I've bought were at MSRP, 99 CR-V, 16 RS, and 21 Ranger. If I don't like the MSRP I just don't bother and look elsewhere.

 

[ControlNode]

That's a perfect example for Gap insurance.

To me I don't think a bank should finance any ADM since the loan is backed by the vehicle being purchased and only addons that add tangible value to the vehicle should allow for the loan over MSRP. If you want to pay ADM to get a car, that should be cash on your end. Since cash is not part of the loan, GAP doesn't help. Simply put, a bank should not allow financing more than 5% above MSRP.

Example: $30k truck with $20k markup, bank should say they'll finance $30k and you need to put in the $20k. If that truck gets totaled for whatever reason a week later, and insurance values it at $29.5k, bank gets that and the $0.5k from GAP coverage since odds are you've made no payment yet. Then your just out that $20k.

This would do two things, greatly reduce the number of cars with stupid ADM markups due to restricting the market to only those with extra cash on hand to cover it. And protect the GAP providers for stupid loses when one of those excessive loans results in payout early in the loan life.

 

[D Fresh]

I started talking to local dealers about the RS as early as April 2015 about wanting to order the car. I was very clear that if they wanted any markup over MSRP I was going elsewhere. The primary dealer I was working with ended up wanting $5k over once Ford announce official pricing, so my order and deposit were made at a different dealer for MSRP a week before the order banks opened for the car in Oct of 2015. Got my RS in June of 2016 for MSRP. All of the new cars I've bought were at MSRP, 99 CR-V, 16 RS, and 21 Ranger. If I don't like the MSRP I just don't bother and look elsewhere.

Makes sense. If you're comfortable with the price tgat's all that matters.

To me I don't think a bank should finance any ADM since the loan is backed by the vehicle being purchased and only addons that add tangible value to the vehicle should allow for the loan over MSRP. If you want to pay ADM to get a car, that should be cash on your end. Since cash is not part of the loan, GAP doesn't help. Simply put, a bank should not allow financing more than 5% above MSRP.

Example: $30k truck with $20k markup, bank should say they'll finance $30k and you need to put in the $20k. If that truck gets totaled for whatever reason a week later, and insurance values it at $29.5k, bank gets that and the $0.5k from GAP coverage since odds are you've made no payment yet. Then your just out that $20k.

This would do two things, greatly reduce the number of cars with stupid ADM markups due to restricting the market to only those with extra cash on hand to cover it. And protect the GAP providers for stupid loses when one of those excessive loans results in payout early in the loan life.

Except for the fact that those ADMs stick virtually forever.

Go buy yourself a used 2020 F-150 Raptor. And you'll pay the ADM too.

Or go to sell your RS, even though you didn't pay an ADM, the cars value includes it.

Once those vehicles are sold it establishes a new baseline. For it and all similar vehicles. Look at my Ranger for example Kelly Blue book lists it's value at $40-$42k for a private sale. That's more than I paid for it 2 years ago.

 

[Blmpkn]

To me I don't think a bank should finance any ADM..

A lot won't.

My fiance just purchased a 2018 focus st2 with 60k miles on it. The car cost 31k brand new, KBB puts it between 17-20k as it is, and the dealer wanted 25.

More than a few banks denied her financing because of that extra 5k.

Wanna guess who didn't care about that extra 5k and agreed to finance? Ford themselves ?

 

[LostMy65]

So let's say I pay the 52 K , drive it off the lot and total it in a crash, insurance pays what the truck is worth , 30 K , where the other 22 k come from ?

I'm thinking if someone is willing to pay 22 over then the 22 isn't a real loss to them.

 

[Rick V.]

The dealers are only doing this because there are to many who are willing to pay these ridiculous markups. I put the blame solely on the consumer. If they would STOP buying vehicles that are marked up, the dealers would be forced to sell them at a normal price like they always have.

I agree with Dave on this, they say there is an ass for every seat. I feel if your willing to pay over MSRP for a vehicle your a fool. I never have in the 44 years that I’ve been buying vehicles. I feel if you walk away they can sit on their overpriced vehicles. Who remembers the PT cruisers that were going for over MSRP, I do.

 

[Rick V.]

I know some of you have said you would never pay retail or above MSRP but sometimes you do. So I live here in Cali and in 2016 I was looking into a GT350 but all were 15-20k over MSRP. After 4 months, i found one in Kansas for MSRP, jumped on it, got it delivered, end of story. ?

Not to be rude but I really don’t need anything that bad to pay MSRP or above. I’ll find it at the price I want.

 

[JohnnyO]

And it will sit there for quite a while.

I can't imaging a bank giving anyone a loan for a car priced $20k over sticker.

Sponsored