Think there will be good car deals in the future?

[mommy2allyandaveri]

I'm probably 6 months from a new lease and wondering if you guys think there will be great deals to be had.

 

[Cruising Engineer]

Hard to say. Many of the factories in the US are shut down for cars/trucks with some of them making medical supplies. Ford/GM/Chrysler usually shut down in June/July to retool for the new (2021) models. Probably what's on the dealers lot it pretty much it until the 2021 rollout.

 

[AnnaS]

We just got our new lease today. Deals. We did okay compared to the last car considering inflation, etc.

We received a card in the mail from the company saying they would apply $500 towards the purchase of a new car/lease rebate. We mentioned it and of course we were told it was already factored in lol. It's all b.s.

My son-in-law's car is due next month (ours was also) - and he can keep the car for another 6 months and keep making payments (also giving him the same miles/1/2 of what the yearly was).

Some are offering deferred payments if you lose your job, etc. Many advertisements on tv.

Good luck. They might be more desperate 3-6 months from now.

 

[dreamin_disney]

I was watching a YouTube video on what to expect when there’s a recession etc. you’ll see good deal on cars because they need to get that stock out to brig in the new models. Maybe by summer or fall they will be hurting and offering great deals but more people ightbe out of jobs.At this point who knows what will happen

 

[Gordon Gekko]

I would absolutely wait if you can. The economy is a wreck and I don’t think the dust has settled for it to truly take shape of the damage. I give it 3-6 months to see things start to happen in your favor on an auto lease/purchase.

 

[jamescanuck2001]

Should be rock bottom deals in August when dealers need to move out 2020 stock and are finding limited buyers.

 

[BridgetBordeaux]

Yes, there should be good deals.

But since this is the Budget Board, I want to encourage you to buy instead of leasing.

If you buy it, try to keep it for at least 6 years. You will be financially rewarded for doing so.

Even when the economy opens up, many will not be in a position to replace a car.....they have to pay the electric bill and buy groceries with what little money they have.

There will be a surplus of cars..............and low prices.......and low rates on long loans..............so low monthly payments.

 

[Andrea464]

Our local Ford place has some great deals right now (0% interest, $0 down, extended payments, etc...), and our Hyundai place is doing some deals. I'm eyeing a Honda Odyssey and can't find any good deals on it though- I know it's in high demand but I was hoping for some good deals.

 

[Forevermarypoppins]

It will depend on DEMAND vs Supply.
Today, it doesn't look good.
In a few months it should be clearer.
I wouldn't count on it and think it'll be short lived if so.

 

[spiders]

As someone above mentioned, many factories have been shutdown. I expect there will be deals as well but the end of year sales events will probably be pushed back considerably. The 2021's won't be arriving on time.

 

[wiscbugs]

I think the model year-end deals will be worse than normal and selection will be very limited.

 

[MikeNamez]

There are some good deals now and with a lease most places will offer a pull ahead for you 6 months out. I would give them a call and see what your options are.

 

[cvjw]

Our local Ford place has some great deals right now (0% interest, $0 down, extended payments, etc...), and our Hyundai place is doing some deals. I'm eyeing a Honda Odyssey and can't find any good deals on it though- I know it's in high demand but I was hoping for some good deals.

If you live in an area with multiple Honda dealers, you should be able to score a great deal by working with their internet departments. Figure out exactly which Honda you want, and start calling the dealerships for prices. After you make contact with a few of them, they will compete with each other to give you the best price. When they stop making you lower offers, you have reached the bottom.

I have used this method to purchase a Honda Odyssey elite and a Honda Pilot elite. I just figure out what I want my total drive out number to be and deal until i get close enough to it.

 

[Andrea464]

If you live in an area with multiple Honda dealers, you should be able to score a great deal by working with their internet departments. Figure out exactly which Honda you want, and start calling the dealerships for prices. After you make contact with a few of them, they will compete with each other to give you the best price. When they stop making you lower offers, you have reached the bottom.

I have used this method to purchase a Honda Odyssey elite and a Honda Pilot elite. I just figure out what I want my total drive out number to be and deal until i get close enough to it.

We don't. The closest other Honda dealer is probably at 30 minutes away, at least. If they any deals with maintenance I wouldn't want to drive. I'd love to Hyundai Palisade but it doesn't have an entertainment system (at all).

 

[Andrea464]

If you live in an area with multiple Honda dealers, you should be able to score a great deal by working with their internet departments. Figure out exactly which Honda you want, and start calling the dealerships for prices. After you make contact with a few of them, they will compete with each other to give you the best price. When they stop making you lower offers, you have reached the bottom.

I have used this method to purchase a Honda Odyssey elite and a Honda Pilot elite. I just figure out what I want my total drive out number to be and deal until i get close enough to it.

BUT....We have some within an hour or so and I know plenty of people here drive that far to buy cars. I might be able to work that.

 

[tvguy]

But since this is the Budget Board, I want to encourage you to buy instead of leasing.

If you buy it, try to keep it for at least 6 years. You will be financially rewarded for doing so.

Exactly, but some people are addicted to leasing and are willing to pay more per mile driven to always have a new car.

 

[AZBronco]

Production of 2020 models pretty much stopped globally. Dealers aren't in a hurry right now to give away cars because they won't be able to replace them--so supply is limited for the time being. Deals in August will all depend on how things go this summer.

 

[tvguy]

If you live in an area with multiple Honda dealers, you should be able to score a great deal by working with their internet departments. Figure out exactly which Honda you want, and start calling the dealerships for prices. After you make contact with a few of them, they will compete with each other to give you the best price. When they stop making you lower offers, you have reached the bottom.

I have used this method to purchase a Honda Odyssey elite and a Honda Pilot elite. I just figure out what I want my total drive out number to be and deal until i get close enough to it.

I tried this in 2018 with the Ford dealers when I bought my Flex. NEVER AGAIN. Found the car I wanted, get a price, get to the dealership, mysteriously that car is nowhere to be found, "Must have been sold, the salesman says" 15 minutes after I got the price quote. Just the ones with the $45-$50,000 sticker price are on the lot. Walked onto a different dealership lot, found the $30,000 sticker price car. Negotiated a price, navigated through and declined the extended warranty, pre-paid maintenance, fabric treatment sales pitches. Really? Only $100 a month extra for pre-paid maintenance when the car is under warranty for the next 3 years, and will require 6 $39 oil changes in that time frame? Drove off barely alive in my new car.

 

[MikeNamez]

Exactly, but some people are addicted to leasing and are willing to pay more per mile driven to always have a new car.

*To not have any maintenance worries... 2/3 oil changes a year and I clean it one time in 36 months. right before i drop it back off at the dealer.

Also, if your leasing and paying "more per mile" then your doing it wrong.

 

[tvguy]

*To not have any maintenance worries... 2/3 oil changes a year and I clean it one time in 36 months. right before i drop it back off at the dealer.

Also, if your leasing and paying "more per mile" then your doing it wrong.

I think the financial experts could use some tips from you then, because lowest cost per mile is not a reason for a lease.
And of course it depends on the fine print in the lease. The end of lease costs can be crazy. Friends with leases on BMWs, Audi's and Mercedes with performance tires getting hit for the cost of new tires if they have less than 50% of the tread left. Same with brakes.
One guy I work with got hit with the cost of replacing a piece of glass that got broken and replaced with a non-OEM piece of glass.
Former co-worker got hit with a $5,000 charge to re-do body work from a fender bender since it was not done by a BMW dealer body shop. Fortunately, in her case, her dad was a big wig lawyer who wrote a nasty demand letter and was able to document that the body shop used by her daughter is the one the BMW DEALERS sublet their more difficult body repairs to.