Posted in a recent thread pertaining to the current new/used car/truck/suv market. I've had a company vehicle for about 20 years and they are getting rid of the policy in lieu of an auto allowance. Not complaining about that since it is fairly generous and includes a nice bonus for down payment of new/leased vehicle. I've had 2 - 3 row Kia Sorrentos in a row and really have liked them. But my wife has a Toyota 4 Runner so we really don't need 2 SUV's and I've wanted to go back to a pickup that I had before company vehicles. For some reason my previous boss would not allow a pickup as a co. vehicle.
Last August the least on my wife's 2017 4 Runner came up. The contracted buyout was $25,000. We've leased in the past but I've never bought one after it expired. Fortunately they have to honor the contract so we purchased it. I believe the sticker on it was around $37,000. I mentioned to the salesman that I bet they would have liked to have this vehicle he told me they would have listed it around $39,000. Only had 30,000 miles but still, they were going to list it for more than sticker. Back to my vehicle I had the option to buy my 2019 Sorrento with 40,000 miles on it. It was stickered at $33,000 and we bought it for $27,500. The blue book value is around $29,000, trade in around $26-27,000 and two different dealers offered to buy it for $20-21,000. Since I wouldn't get a bonus for down payment on a used vehicle and considering I'm older I really didn't want to spend that much on a used vehicle with little or no warranty left. Plus if new vehicles do become more available the use car market may drop leaving me with a car priced over market.
There are very few of no new pickups/SUV's in the Sioux City market depending on the dealer. They blame it on chips and its been that way for a year or more. We visited Ford, Toyota, Kia and Nissan last weekend and there were only a few new non-car vehicles on the lots. The kid we bought the 4 runner from told us they are taking orders and each salesman has about a dozen. You list your preferences in order and when the factory realease one to them they try to match up to the closest order. You still may not get exactly what you want or color. You have to put $500 down when you order. Kia and Nissan are owned by Billion and they aren't taking any orders and have very little in their lots. Nissan told me they have to sell so many cars to get any allocated to them which is a Catch 22 because they have none to sell.
There are plenty of used pickups on lots but the prices are obsecene. Ford has a 2019 Raptor listed at $72,000 and other used 150's in the 3-4 year old range priced between $50-60,000. Basically used vehicles are listed higher than new because they are the only thing available and parent companies are frowning on dealerships gouging new cars above sticker. We did find a new 2022 Nissan Frontier pickup listed at $40,740 that we fell in love with. It's there high end model with plenty of leg room in the back. Reviews say it has really been updated/improved from their 2021 model. In fact they have one 2021 model on the lot and it isn't close to the 2022 in looks and value. Had same salesman who sold the last Sorrento to me. They just got it in and he thought he had it sold to someone out of state but he thought it was gray instead of black. It has burnt ornage stitching and accent which goes well with my SBL clothing
I saw it Sunday and went in over lunch on Monday to test drive it. When we got back another salesman got the keys to show it to someone so I put down $500 to hold it and ended up purchasing yesterday (Thursday). I consider myself a great negotiator but there is none of that going on now. In fact since they are reluctant to sell above sticker they add their$2,800 extra protection plan to it. If you want it you have to pay for it. Nissan won't let them sell the car without it. Kia adds a $1,200 film coating to that package. He said Toyota simply adds a 6% fee with no package (Billion also has Toyota dealerships). Maybe I'm a sucker but it was either that or buy my Sorrento. I actually feel fortunate that I found this one. My boss wanted decsions/deals done by end of March.
Anyway it's a great time to sell a used vehicle and don't have to buy a new one. The new ones aren't over sticker or much over but there is no negotiating so what you gain in selling your used vehicle is lost when you can't negotiate a lower price on a new one. Pool or pond I guess but it's definitely a seller market.
Last August the least on my wife's 2017 4 Runner came up. The contracted buyout was $25,000. We've leased in the past but I've never bought one after it expired. Fortunately they have to honor the contract so we purchased it. I believe the sticker on it was around $37,000. I mentioned to the salesman that I bet they would have liked to have this vehicle he told me they would have listed it around $39,000. Only had 30,000 miles but still, they were going to list it for more than sticker. Back to my vehicle I had the option to buy my 2019 Sorrento with 40,000 miles on it. It was stickered at $33,000 and we bought it for $27,500. The blue book value is around $29,000, trade in around $26-27,000 and two different dealers offered to buy it for $20-21,000. Since I wouldn't get a bonus for down payment on a used vehicle and considering I'm older I really didn't want to spend that much on a used vehicle with little or no warranty left. Plus if new vehicles do become more available the use car market may drop leaving me with a car priced over market.
There are very few of no new pickups/SUV's in the Sioux City market depending on the dealer. They blame it on chips and its been that way for a year or more. We visited Ford, Toyota, Kia and Nissan last weekend and there were only a few new non-car vehicles on the lots. The kid we bought the 4 runner from told us they are taking orders and each salesman has about a dozen. You list your preferences in order and when the factory realease one to them they try to match up to the closest order. You still may not get exactly what you want or color. You have to put $500 down when you order. Kia and Nissan are owned by Billion and they aren't taking any orders and have very little in their lots. Nissan told me they have to sell so many cars to get any allocated to them which is a Catch 22 because they have none to sell.
There are plenty of used pickups on lots but the prices are obsecene. Ford has a 2019 Raptor listed at $72,000 and other used 150's in the 3-4 year old range priced between $50-60,000. Basically used vehicles are listed higher than new because they are the only thing available and parent companies are frowning on dealerships gouging new cars above sticker. We did find a new 2022 Nissan Frontier pickup listed at $40,740 that we fell in love with. It's there high end model with plenty of leg room in the back. Reviews say it has really been updated/improved from their 2021 model. In fact they have one 2021 model on the lot and it isn't close to the 2022 in looks and value. Had same salesman who sold the last Sorrento to me. They just got it in and he thought he had it sold to someone out of state but he thought it was gray instead of black. It has burnt ornage stitching and accent which goes well with my SBL clothing
I saw it Sunday and went in over lunch on Monday to test drive it. When we got back another salesman got the keys to show it to someone so I put down $500 to hold it and ended up purchasing yesterday (Thursday). I consider myself a great negotiator but there is none of that going on now. In fact since they are reluctant to sell above sticker they add their$2,800 extra protection plan to it. If you want it you have to pay for it. Nissan won't let them sell the car without it. Kia adds a $1,200 film coating to that package. He said Toyota simply adds a 6% fee with no package (Billion also has Toyota dealerships). Maybe I'm a sucker but it was either that or buy my Sorrento. I actually feel fortunate that I found this one. My boss wanted decsions/deals done by end of March.Anyway it's a great time to sell a used vehicle and don't have to buy a new one. The new ones aren't over sticker or much over but there is no negotiating so what you gain in selling your used vehicle is lost when you can't negotiate a lower price on a new one. Pool or pond I guess but it's definitely a seller market.
2022 nissan frontier pro 4x black - Google Search
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