I spent yesterday truck shopping. Current state of dealers offers in Ohio...

[Cg32]

Paying cash was a wake up for me. Thinking I'd get a discount and had multiple dealers tell me the opposite because "the price is based on our financing". Like F your financing I'm not paying interest if i dont have too. Had to drive to KC to get a deal, 4.5 hour drive one way.

Same here on a past purchase. I learned that if you want to pay cash, either finance it and pay it off later, or tell them you are going with a small down payment, get the terms set and while in the finance office, “change your mind” and put down 90% and pay off the balance a few months later. The dealerships are incentivized by banks they finance with, which is why they are more willing to work with you. This even applies to outside financing sometimes as well.

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[Dr. Zaius]

I can relate to the bolded part! While I try and remain optimistic it's somewhat easy to see through the BS and get a good look at what's really going on. I stay away from the media and talk with real people every day. Some are just everyday folks like us here but many of my customers are either in the financial sector or very well off on their careers where I value their opinions. Let's just say most are not very optimistic about what's coming and agree a lot of things right now (in the stock market) don't make much sense.

So unless you can lock in a price (I know Granger will do this) right now I wouldn't be waiting much longer to buy. This is where I'm at with my Bronco order which is through them. I'm price protected (hopefully Ford doesn't change this) with my 2020 reservation through 2023. If they decided not to honor this when the order banks open up next month you'll see a lot of very mad reservation holders dropping their orders because the prices are now $3,000+ higher. That's why I say if there's something on the lot close to what you're looking for try and make that deal happen. With the parts constraints and the manufacturers changing the rules whenever they want I'd grab what I can now.

Another reason to consider buying soon is that interest rates are going to continue to climb as is inflation.

And like @MountainGoat said, paying cash is no longer a good option for the dealer as they can wait for the next person and soak them for financing.

Vehicles are a sellers market right now, and if you don't get something you're looking at the person right behind you will grab it.

Unfortunately, a lot of the people that are buying any and everything are driving up costs for all.

Dealers wouldn't charge ridiculous markups if no one paid them. But suckers people do and so dealers keep adding it.

 

[Joeiconic]

You may be able to cut a deal on option #3, but it takes two to tango.

 

[that408guy]

I didn't think dealers can turn down the x plan. That's a bummer, so much for the Ford family.

 

[MountainGoat]

When my son bought his F150 the dealer played that game with him. It was their financing company. Ok if we do this what are you giving us? Do not bite if no incentives from them for the deal. Go sharpen your pencils and come back with a price we’re willing to pay.

My son is like what are you doing dad? I said their financing is a high interest. The contract says we need to make like 3 payments before refinancing with someone else. We go to your credit union. You plunk down as much as you want when they pull the loan and you can middle bird the dealer.

That’s exactly what he did too. Got them 4.5K lower than what they were asking.

It was worth it doing the drive for me. It was a long day though and ended up getting hotel overnight. I got offers from two other dealers first which helped a lot. They did give me a cash discount (1k), with the trade in (1.5K) and rebate (1750) I went 33,0 down to 28,7. Those were the days. My trade in was a 210,000 Nissan Pathfinder with a screaming timing belt no ac and the dash had started blacking out few days prior (mice maybe?). So overall I'm real happy and now the truck just needs to last because I'm likely never buying new again with how the direction of new vehicles are going.

 

[JDowns]

When I bought mine last November it all came down to future prospects. I actually wanted another year or two out of the F150 before I traded in. But chip shortages, post pandemic profit recuperation (ie stripping parts), trade in value compared to new market value, and interest rates forced me to purchase early. I think for the next few years the continued material shortages, worsening interest rates (recession), are going to keep prices elevated and its only going to get worse.

 

[SigOris]

I started saying this back in the mid 1980’s. We produced much of what we used. Then the offshoring and moving operations to Mexico started. In the US back then the machine tool industry was 80 billion a year across all manufacturing. Within 2 years it went from that to 21 billion a year. That’s when we became a service economy and not manufacturing.

Here we are today, bunch of fat cats at the top and all us are arguing over the scraps. This isn’t rocket science. It was a calculated move to go to a one world economy with us pulling the strings!

In my work in can see would be hosed if we got into a shooting war with anyone as our limited spare parts would take systems out of action.

 

[MountainGoat]

When I bought mine last November it all came down to future prospects. I actually wanted another year or two out of the F150 before I traded in. But chip shortages, post pandemic profit recuperation (ie stripping parts), trade in value compared to new market value, and interest rates forced me to purchase early. I think for the next few years the continued material shortages, worsening interest rates (recession), are going to keep prices elevated and its only going to get worse.

Not to mention they're going to roll out the blow-start cars (breathalyzer mandate). Those belong in a South Park episode not my driveway!

 

[SigOris]

When I bought mine last November it all came down to future prospects. I actually wanted another year or two out of the F150 before I traded in. But chip shortages, post pandemic profit recuperation (ie stripping parts), trade in value compared to new market value, and interest rates forced me to purchase early. I think for the next few years the continued material shortages, worsening interest rates (recession), are going to keep prices elevated and its only going to get worse.

my 19 F150 Crew Lariat was worth more in trade than my 22 Ranger Crew Lariat. I traded early as I was reading articles about full size pick ups stacking due to missing parts. I reasoned when these flood the market full size trades will plummet in value.

 

[SigOris]

This is spot on! Also to add to this don't think Ford or all the rest aren't going to add increases throughout the year. Add in the higher interest rates like Trig said and it'll be more costly to wait. Even if there's a rebate the higher rates and increases will offset those. We've had 2 down quarters in a row so technically we're in a recession right now but they just won't admit it!

Besides it's not like they're building thousands of dealer stock vehicles like before. So while a recession might stop some from buying there are thousands more who will be glad to buy what comes in. I don't see any fire sales happening like there were during covid in 2020. This is why Ford and others are pushing for customer orders and to have very little dealer inventory now. The days of seeing mega year end discounts are over.

Dave, your POTUS, when awake, says we are not in a recession. ???

 

[JohnnyO]

When I bought mine last November it all came down to future prospects. I actually wanted another year or two out of the F150 before I traded in. But chip shortages, post pandemic profit recuperation (ie stripping parts), trade in value compared to new market value, and interest rates forced me to purchase early. I think for the next few years the continued material shortages, worsening interest rates (recession), are going to keep prices elevated and its only going to get worse.

Quality lately isn't that great either due to labor and supply chain issues. My cousin owns a repair shop and used car lot and he says he wouldn't buy a 2021 or 2022 model from any manufacturer, they all suck and will be nothing but problems. He has a 2021 Silverado himself (he's a Chevy guy but he's family) that he bought new and had to have the whole engine replaced at 13,000 miles.

Not to mention they're going to roll out the blow-start cars (breathalyzer mandate). Those belong in a South Park episode not my driveway!

If cars get any more complicated I swear I'm just going to buy and restore a 1970 Jeep CJ-5. If China or Russia hits us with an EMP blast, I'll still be rolling.

 

[JDowns]

I think one thing for the OP to consider is interest rates. If (when) the Fed increases by another 3/4 points and rates jump how much more money are you paying for the life of the loan as opposed to any negotiated savings now? If rates jump just another 1% you may be in a wash situation.

 

[DonB]

For sure.
We all make our choices on the info we have.
I bought mine in December 2020. Why? Because I thought that by the time
I wanted one, cuz I did not need it in 2020, there would be none to have!
I hate being right with bad news....

FWIW, I'm betting on a depression. Worse than the 20's.

 

[Grumpaw]

Quality lately isn't that great either due to labor and supply chain issues. My cousin owns a repair shop and used car lot and he says he wouldn't buy a 2021 or 2022 model from any manufacturer, they all suck and will be nothing but problems. He has a 2021 Silverado himself (he's a Chevy guy but he's family) that he bought new and had to have the whole engine replaced at 13,000 miles.


If cars get any more complicated I swear I'm just going to buy and restore a 1970 Jeep CJ-5. If China or Russia hits us with an EMP blast, I'll still be rolling.

My Ranger is safe from any EMP...I have a patented EMP Diverter similar to the one pictured.
On Line Guy guarantees it or my money back less shipping, handling, damage, and pro-rated if used more than once.

 

[MountainGoat]

Quality lately isn't that great either due to labor and supply chain issues. My cousin owns a repair shop and used car lot and he says he wouldn't buy a 2021 or 2022 model from any manufacturer, they all suck and will be nothing but problems. He has a 2021 Silverado himself (he's a Chevy guy but he's family) that he bought new and had to have the whole engine replaced at 13,000 miles.


If cars get any more complicated I swear I'm just going to buy and restore a 1970 Jeep CJ-5. If China or Russia hits us with an EMP blast, I'll still be rolling.

I'm going back and forth on a second vehicle, either something like a dual-sport bike or old truck. During Hurricane Sandy in NJ I was able to get around boats and trees in the road due to having a dual sport bike. Ran it off siphoned gas from my truck for weeks.

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