Dealerships gone crazy

[Done-it-again]

I read in the WSJ last week that auto loan delinquencies and repos are up about 30% over 2021 numbers.

Nothing was being repod in 21' so what was it in 18' or 19'? that would give you "normal" repo data.

 

[rrrr]

Nothing was being repod in 21' so what was it in 18' or 19'? that would give you "normal" repo data.

The article stated the 2019 numbers, I think it was about 19% but can't remember exactly.

 

[WhatExit?]

Leave it to the Stealerships...

A family is suing a south Charlotte car dealership claiming they had a deal in writing but that the final paperwork listed roughly a $40,000 different cost than what they expected. In addition, they say someone forged their names on the contract.

Family sues, claiming car dealer added roughly $40,000 to price, forged their names

A family is suing a south Charlotte car dealership claiming they had a deal in writing but that the final paperwork listed roughly a $40,000 different cost than what they expected.

news.yahoo.com

 

[Spudsbud]

A buddy just bought a bra d new 2023 Chev. 2500 gas,4x4,SB, 4dr loaded, leather, sunroof, levelling(lift) kit.
Gorgeous. Ordered it. Paid exactly list.
Dealership refuses to charge a dime more than MSRP on any vehicle.
To save those kinda $$$$ is it worth travelling??
He paid $72k I think.

 

[HALLETT BOY]

I never thought I’d see the day when people were ecstatic to pay MSRP . I’ve NEVER paid it .

 

[4Waters]

It's a shitty story too, guy would have oil changed religiously, problem was the shop used cheap oil. The motor had so much sludge that it plugged the dipstick tube, he would check the stick and read fine but in actuality oil was low and he was oil starving the bearings


This is what he found when he pulled the valve covers

They never changed the oil

 

[TPC]

GM Idling their Ft Wayne Truck Plant for 2 weeks.
"General Motors is going to idle production at its Fort Wayne Assembly truck plant in Indiana for two weeks starting in March. The car manufacturer recently informed employees at the factory that the pickup plant will be idled for two weeks starting March 27 in a move to manage inventory levels."

Experts: GM aims to ward off a surplus of trucks

GM's plan to idle its full-size pickup factory in Indiana next month suggests the automaker is trying to avoid returning to days of stockpiling vehicles on dealership lots, analysts say.

www.autonews.com

On the news this evening an Auto Group owner said for "every 1% interest rate hike the average car payment goes up $80. Most people can't afford that in their budget."

We may see some serious rebates soon.

 

[TPC]

This thread comes at a perfect time for me. As some of you know, I worked as the Director of IT with Ken Grody years ago. It was different times for sure.

As I type this, my 2020 Explorer ST has shit its tranny. 7-6 gear change is banging hard, I have to drive it it manual mode right now to avoid that gear set. 50k miles. It just came out of shop for a month for an AWD module failure that was 1k out of my pocket not covered by the 60k powertrain warranty. I fought with Ford Care for three weeks, they could care less. Ford has a loyalty value of 0-100 and i am an 85 as a 20 year customer, previous employee yadda yadda. Didnt matter. They would not cover. Oh and no more rental cars, loaners etc.

Im over it. I am going to report back how they handle this. Should get interesting.

Friend is a Captain with the CHP. Says They are blowing through Explorer trannys. Ford won't cover them.

 

[hman442]

On the news this evening an Auto Group owner said for "every 1% interest rate hike the average car payment goes up $80. Most people can't afford that in their budget."

We may see some serious rebates soon.

80 bucks sounds high, so I went to a loan calculator site, plugged 50k in for 60 months, raising interest rate from 4.5 to 5.5 raised the payment 21 bucks

 

[gqchris]

Friend is a Captain with the CHP. Says They are blowing through Explorer trannys. Ford won't cover them.

Its at Grody Fleet service as we speak. No word yet. And Ford no longer covers rentals unless its the Extended Plans. So I am driving a shitbox Tuoro car until this is figured out. Not a happy camper thats for sure.

 

[Sleek-Jet]

GM Idling their Ft Wayne Truck Plant for 2 weeks.
"General Motors is going to idle production at its Fort Wayne Assembly truck plant in Indiana for two weeks starting in March. The car manufacturer recently informed employees at the factory that the pickup plant will be idled for two weeks starting March 27 in a move to manage inventory levels."

Experts: GM aims to ward off a surplus of trucks

GM's plan to idle its full-size pickup factory in Indiana next month suggests the automaker is trying to avoid returning to days of stockpiling vehicles on dealership lots, analysts say.

www.autonews.com

On the news this evening an Auto Group owner said for "every 1% interest rate hike the average car payment goes up $80. Most people can't afford that in their budget."

We may see some serious rebates soon.

And yet I can't get a cab and chassis for our work trucks until 2026... Maybe Ford/Dodge/GM needs to build a few more XL trim levels instead of making everything zooted up.