Current New Vehicle Market

[biminiLX]

Interesting, the F150 I ordered and canceled at my local Ford dealer in September just arrived on the dealer lot. When I ordered they said 6 months. Ford did delete the heated steering wheel and stop/start. I canceled the order 3 days after I made it, surprised the dealer let it ride.

Seems like they’ll take all they can get.
Same with my orders, if you don’t want it we’ll easily sell it.
But if I’m buying a special ordered new ride I would pissed not to have the heated wheel after seeing how nice they are.
So it took about 12wks?
-J

 

[Weather Man]

Seems like they’ll take all they can get.
Same with my orders, if you don’t want it we’ll easily sell it.
But if I’m buying a special ordered new ride I would pissed not to have the heated wheel after seeing how nice they are.
So it took about 12wks?
-J

Yeah, much quicker than they originally thought.

 

[Kornilov]

Everybody i work with is also excited about it(bunch of therapists, some of their significant others also). But they also leave work when the gas station in town runs a 30 cents/gal sale until they run out and fight the skanks for spot in line.

We are different.

Wow. I cant imagine the type of loser who would spend valuable time out of their day waiting in line at the gas station to save $5.

 

[jvandy50]

Wow. I cant imagine the type of loser who would spend valuable time out of their day waiting in line at the gas station to save $5.

Lol exactly why they have loans still. They can't math.

You'd think they'd see the company they are in when they rushed over to the joint, but nope

 

[BOOGIE MAN]

Yeah it’s common sense vs integrity / dignity, imo.

@C2tuck understands what I’m saying.



I was in the same position, i paid off my student loans with my money….

I'm with you, but you don't get extra pts for it.

Since the student loans went 0%, I've been making student loan payments of the correct amount every month to a personal savings acct that accrues interest every month.

When the bills start being due, I'll pay from that acct. If they keep getting pushed to 0% or they wipe it, I'll have a nice little purse to spend on whatever I want

 

[jpro]

Local Ford Dealer in Henderson, NV (Vegas) has 0.9% for 66 months on Escape/Explorer/Edge for in stock vehicles. Went to the site to have a look and the Edge and Explorer are both similarly priced. WTF?!?!?!?!

Thinking of picking up an Explorer ST. Hmmmmmm. Not sure though, nice not having auto notes.

 

[dan1982]

What kinda weirdo monitors dealership parking lots? WTF.

 

[Blk04L]

Local Ford Dealer in Henderson, NV (Vegas) has 0.9% for 66 months on Escape/Explorer/Edge for in stock vehicles. Went to the site to have a look and the Edge and Explorer are both similarly priced. WTF?!?!?!?!

Thinking of picking up an Explorer ST. Hmmmmmm. Not sure though, nice not having auto notes.

I'll be amazed if the ST trim is included in that deal. But if so that's a great opportunity as long as the price is good too.

 

[jpro]

I'll be amazed if the ST trim is included in that deal. But if so that's a great opportunity as long as the price is good too.

I clicked the banner on their page and it goes to a search of new inventory with "pre-determined" search filters already set up. The ST is included in the search filters. This dealer doesn't have a list of what is "in-stock" though...wondering if they don't have any on the lot and what is listed on their website is in-stock and/or in transit. I could see the ST being excluded because it is in transit and not on the lot. LOL

 

[SHOdown220]

I clicked the banner on their page and it goes to a search of new inventory with "pre-determined" search filters already set up. The ST is included in the search filters. This dealer doesn't have a list of what is "in-stock" though...wondering if they don't have any on the lot and what is listed on their website is in-stock and/or in transit. I could see the ST being excluded because it is in transit and not on the lot. LOL

When I was looking for a car I was having a hard time trying to decipher what was actually on the lot in stock. If it had a real picture instead of stock photos that was a good indication but there were others on the lot still showing stock photos. I called the dealer I bought my mustang from to verify was it was actually in stock before making the drive. Funny thing is it’s still listed on their website as an in stock vehicle and I took delivery nearly 2 weeks ago.

 

[Weather Man]

I clicked the banner on their page and it goes to a search of new inventory with "pre-determined" search filters already set up. The ST is included in the search filters. This dealer doesn't have a list of what is "in-stock" though...wondering if they don't have any on the lot and what is listed on their website is in-stock and/or in transit. I could see the ST being excluded because it is in transit and not on the lot. LOL

Fords website inventory search will tell you if on lot.

https://shop.ford.com/inventory/explorer/results?zipcode=56379&Dealer=09473

 

[robvas]

Enjoying people online seeing cars going for thousands and thousands under MSRP (like they used to) and crying about how much they overpaid because they NEEDED a new car last year

 

[Weather Man]

Local Ford lot had 2 electric F-150 and 3 raptors on the showcase row. Good to see things getting back to normal. The local very small hometown Chevy dealer is definitely running with less inventory new and used than precovid.

 

[Weather Man]

Enjoying people online seeing cars going for thousands and thousands under MSRP (like they used to) and crying about how much they overpaid because they NEEDED a new car last year

I felt bad for people who had to buy during the covid madness. Heck, even the people who had a minor fender bender have had a heck of a time.

 

[robvas]

I felt bad for people who had to buy during the covid madness. Heck, even the people who had a minor fender bender have had a heck of a time.

I'm talking more about the people who just had to buy a Mustang or Jeep or something.

 

[jpro]

Fords website inventory search will tell you if on lot.

https://shop.ford.com/inventory/explorer/results?zipcode=56379&Dealer=09473

Thanks, there are two ST-Line models listed so I guess those two are on the lot. Both listed at MSRP with $500 off in incentives. Not sure where it indicates if it is on the lot or in transit as I looked thoroughly. However, maybe if it is currently listed on the Ford site that means it is on the lot?

 

[Weather Man]

Thanks, there are two ST-Line models listed so I guess those two are on the lot. Both listed at MSRP with $500 off in incentives. Not sure where it indicates if it is on the lot or in transit as I looked thoroughly. However, maybe if it is currently listed on the Ford site that means it is on the lot?

When it is a wider search, Ford puts a banner on it indicating ordered or in transit.

 

[BlueSnake01]

Thanks, there are two ST-Line models listed so I guess those two are on the lot. Both listed at MSRP with $500 off in incentives. Not sure where it indicates if it is on the lot or in transit as I looked thoroughly. However, maybe if it is currently listed on the Ford site that means it is on the lot?

ST-Line is an XLT 4 cyl with the ST look.
Practically an Ecoboost Mustang with GT track pack wheels, hood, etc.

Makes sense why the Edge was priced similarity.

 

[jpro]

ST-Line is an XLT 4 cyl with the ST look.
Practically an Ecoboost Mustang with GT track pack wheels, hood, etc.

Makes sense why the Edge was priced similarity.

Thanks. I realized that when I started to look at the window stickers for the ST Line vehicles.

It looks as though their one ST is in transit and not in stock.

 

[Weather Man]

Banks lose market share in auto lending as credit unions offer lower rates​

CACC +0.11%Dec. 28, 2022 10:37 AM ET15 Comments

Credit unions have grabbed more market share for auto loans at the expense of banks and the lending arms of auto manufacturers, credit reporting firm Experian said in its latest quarterly automotive finance report.
Credit unions' share of all auto loans increased to almost 31% in Q3 2022 from 22.8% in 2021 and 22.2% in 2020 as the interest rates they charge borrowers are generally lower than those offered by other lenders.
Credit unions have become the top lender for used cars, with a 31.5% market share, up from 25.5% in 2021. Banks, meanwhile, saw their share drop to 28.4% in Q3 2022 from 35.0% in the prior year.
For financing new cars, auto makers' captive lenders still lead in market share at 44.2%, though credit unions (23.7%) are gaining ground on both the captive lenders and banks (25.6%).
In Q3 2022, the average interest rate of loans from credit unions was 5.94% for used cars, compared with 8.36% rate for bank loans, 8.80% for captive lender loans, and 18.53% for finance company loans.
The lowest rate that banks had offered since 2017 was 6.47% during Q4 2021, still higher than the highest average rate of credit unions had offered — 6.23% in Q1 2019.
Publicly traded stocks that may be most affected by credit unions' increase in market share are Ally Financial (NYSE:ALLY), Capital One Financial (NYSE:COF), and Credit Acceptance (NASDAQ:CACC).
While many big banks also have auto lending businesses, they're generally a smaller part of their overall operations. For example, JPMorgan Chase (JPM), Wells Fargo (WFC), Banco Santander (SAN), Toronto-Dominion (TD), Bank of America (BAC) are all in the top 10 auto lenders, according to BizVibe. Captive lenders include Toyota (TM), Ford (F), Nissan (OTCPK:NSANY), and Honda (HMC). Here's a chart showing how a handful of auto lender stocks performed in the past year.
Last month, a New York Fed survey found consumer are less likely to apply for an auto loan, mortgage, or mortgage refinancing within the next 12 months.