Called around trying to buy a car last 3 days.......greed is an understatement....and the best of it is, they aren't even shy about it!!! all smug in my new plug!

2021 Westminster Black D300
2013 Vogue SE - gone
Some Porsche Cayenne guff pretending to be a 4x4!!
2006 Vogue
2004 Vogue
2001 Vogue

Much like the current rise in property prices, it will pop at the wrong time for some. Dealers are giving circa £4-5k over book just to have stock. Will we see a sudden correction, or a gradual depreciation I wonder.

There was a piece on the beeb yesterday about it. Car dealer saying he’s had calls of over the purchase price (if somebody has already put a deposit down) offers to make sure it’s goes to them. Car gazumping, it’s now a thing. visiting from www.rrsport.co.uk

The dealer I bought my L405 from this week was quite generous with the trade in value of my Audi S6 so it kind of works both ways.

This guy is asking why he can't sell a 3 litre petrol for £66k

 2017 SDV8 Autobiography

kungfupanda wrote:

The dealer I bought my L405 from this week was quite generous with the trade in value of my Audi S6 so it kind of works both ways.

Its not greed just free market economics, as another poster has said they have a got a better price on their trade in...
Maybe you sold yours to the market too cheaply

Its called free furlough money mate! all smug in my new plug!

2021 Westminster Black D300
2013 Vogue SE - gone
Some Porsche Cayenne guff pretending to be a 4x4!!
2006 Vogue
2004 Vogue
2001 Vogue

forever wrote:

Its not greed just free market economics, as another poster has said they have a got a better price on their trade in...
Maybe you sold yours to the market too cheaply

Just be glad we don't live in the US where dealers can advertise new cars over MSRP citing market adjustment! 2021 L405 Vogue D300
2016 L405 Vogue 3.0TDV6 (Sold)

Most makes and models of cars are a,so selling at auction for way over their book prices.

Jim

A customer of mine came in today and told me last week he was due to pick a 6 month old transporter up after viewing and leaving a deposit the week before. Dealer rang him on collection morning to say he had refunded his deposit and sold the van to someone else  Paul

2014 Range Rover vogue se 4.4sdv8 Loire Blue
1992 Range Rover Vogue LSE 4.2 Ardennes green

It’s not greed, it’s a realisation of the current market situation.

The company I work for makes cables and A/V accessories. Small, relatively light, easy to transport. Factory costs are killing us right now, metal and PVC are up 30% or more. Factories in China are so busy they are being forced to shut down for weeks at a time to reduce pollution. Container shipping costs are up at least 200% on 2019, 500% for some destinations. Chipset lead times have increased from 8 weeks to 52 weeks, and then it’s a bidding war to get stock.

Latest story is that pallets are doubling in cost. There is a building boom in the US that is taking up all the worlds spare softwood supply, so lumber prices there are up 500% in some cases.

None of these costs or lead times will reduce until late 2022 at least - that’s not my personal opinion, it’s one shared by every major manufacturer, shipper and bank.

All that means that if you have something in stock now, in this country, it would cost up to 50% more to make the same thing again brand new today, and if you can make it, there is a long wait and demand outstrips supply. So why would any other industry that makes finished goods from raw materials be any different. Perhaps whilst car margins aren’t huge, there is a lot of cost tied up in labour and advertising, so perhaps the impact of raw material increases is only 10-20%.

It’s not greed, it’s reality. Anything that’s already paid for in the supply chain has massive demand, even at an increased price. There are no cheap replacements on the horizon, so any dealer who isn’t adjusting prices to recognise the correct reality is not really embracing the free market capitalist economy.
They might not have any stock to sell in 3 months time, but they will still have bills, and all their COVID loans and costs still to pay off.

This is the real cost of Covid. Our individual purchasing power has been reduced by around 10% in some areas. I say that’s worth it as the cost of still. Ring alive and not watching some sort of virus apocalypse.

I bought my L405 at the end of March, before dealerships properly reopened. It’s probably worth 10-15% more than I paid for it, although that’s irrelevant as any replacement would also cost more. It’s like house prices in that regard, it doesn’t matter how much prices go up or down, all that matters is what it costs you to change from what you have to what you want.

MonkeyMan, I don't mind the pricing if they are buying at a higher price, thats supply and demand and thats ok but a car thats been on the forecourt for 3 weeks that isn't flying out the door, but I have to call twice to ask to buy it, isn't exactly "the norm" I feel.....I asked for a deal....and it took the sister dealership asking for the car to be transferred to them for them to even call me back......

Now.....the rub for me is that it gave me 2 days to think about other options.....luckily I've got a pre-reg D350 to see Sunday from somewhere local so I'll see how that fairs as the sales guy has been great so far.....which incidentally is the same treatment I got buying a Porsche for the wife last week and that car was strong money but the sales guy, was polite, helpful and most of all ... just honest but not in a "take it or leave it" way..... manners cost nothing....and COVID has just made that worse! But called 2 other Porsche dealers and the friendliness just wasn't there and tbh just not that engaging.

Maybe I expect too much....who knows but money doesnt come easy when you have to make it yourself as you know and as a customer I'd like to enjoy the experience ...... I used to enjoy buying cars.....kinda don't so much anymore. all smug in my new plug!

2021 Westminster Black D300
2013 Vogue SE - gone
Some Porsche Cayenne guff pretending to be a 4x4!!
2006 Vogue
2004 Vogue
2001 Vogue

I've never enjoyed buying cars - so I tend to just keep them for a long time.

I don't really see it as free either though - just market forces. Sometimes the market tanks & dealers lose money on stock, sometimes things firm up - rising prices is more unusual, but it's just supply & demand - free markets at work