Someone make me feel better about this markup

[iamten10]

Been on the market for a Yukon AT4 this past few months and “swore” I’ll wait until I can find one for MSRP. Fast forward to today and found one nearby with a $5k markup and I have an appointment tomorrow to see it with the intent of buying.

Someone make me feel better and share some markups y’all paid or that the chip shortage will last for the next 100 years or something.

 

[OR VietVet]

IMO, the prices will not come back to reality until people stop paying these crazy prices. Used is a better deal what with the depriciation of new when just off the lot. Plus, used sellers are way more willing to negotiate.

 

[swathdiver]

Been on the market for a Yukon AT4 this past few months and “swore” I’ll wait until I can find one for MSRP. Fast forward to today and found one nearby with a $5k markup and I have an appointment tomorrow to see it with the intent of buying.

Someone make me feel better and share some markups y’all paid or that the chip shortage will last for the next 100 years or something.

The market is what it is right now. If you need a car now and you like the truck, buy it. If you let her go, will another with all the features you want show up again? If so, when?

 

[BrokerThis]

Couple questions you need to answer yourself

1. Does it have every single option you want, and not missing anything ?
2. How bad do you currently NEED a new vehicle? Or is it a want, and you can hold out for a couple months
3. Does the 5k financially break the budget to be able to afford it.
4. Have you tried placing a custom order with any dealers instead of hoping for stock inventory to show up on the lot


Sometimes the bird in the hand is the option to take. But again, it all depends on your situation and actual need vs wants.

 

[Banks22]

Depending where your located, u need to call more rural dealerships and they will do msrp some even gms as long as your in-state buyer. Just takes persistence amd check the gmc inventory site daily

 

[Stbentoak]

If it's your "Perfect" vehicle, the 5k won't matter much as you smile every time you get in it, starting tomorrow.
You either can afford it or you can't.
If you can.... life is too short to worry about it...
If you have to agonize over it.. don't buy it...

 

[Polo08816]

IMO, the prices will not come back to reality until people stop paying these crazy prices. Used is a better deal what with the depriciation of new when just off the lot. Plus, used sellers are way more willing to negotiate.

I think part of this is because credit was too easy to obtain. Most buyers are not cash buyers.

As the economy starts to weaken and the effects of forbearance programs end, I would imagine the repo rates will increase. Once the repo rates increase, it will be harder to obtain credit and people won't be able to afford these vehicles.

Also, lenders are seeing the values for these types of vehicles tank on the wholesale market. The case 12 months ago where a repossessed vehicle could be sold on the wholesale market for no loss doesn't exist today. That will make lenders really tighten up their credit standards as well.

 

[Fless]

FWIW the John Elway dealerships around Denver advertise that they don't sell over MSRP. Not sure what their allocation is, though.

 

[GMCnewbee]

Do some negotiation when you get to the Dealer. Let them know you are serious and see what happens. I let the Dealer know I would buy if they worked with me. The advertised $15k markup was down to $8k when we began to talk. They then came down to $4k and finally to a $2k markup when we finished. This was back in February. At the time I also got GMC 0% financing for 36 months, which was a big help for me to close the deal.

 

[todayusay]

Talked to (not emailed) about 6-7 different dealers over the past month, about a 500 mile radius and from 5 different states. All but one of them hinted that they'd negotiate the market adjustment - two specifically said they have had customers pay a lower adjustment than what is advertised

This on a Tahoe Z71 - Yukon AT4s are harder to come by so they may not be as willing to play ball

How long has it been at the dealer? If it showed up over the weekend, then they'll probably hold to their adjustment. If it's been there a week or so I'd expect them to at least entertain an offer

 

[VPVETTE]

Not sure how this site operates with allowing posting of dealers, but if you look in Tampa FL, for GMC dealers, you will be surprised by the prices you will see. They are BELOW sticker. If the site gods allow, I will post dealer name. My friend bought his Denali 2500 HD from them. Said was a great experience. the money saved easily covered the flight.

 

[Banks22]

I think part of this is because credit was too easy to obtain. Most buyers are not cash buyers.

As the economy starts to weaken and the effects of forbearance programs end, I would imagine the repo rates will increase. Once the repo rates increase, it will be harder to obtain credit and people won't be able to afford these vehicles.

Also, lenders are seeing the values for these types of vehicles tank on the wholesale market. The case 12 months ago where a repossessed vehicle could be sold on the wholesale market for no loss doesn't exist today. That will make lenders really tighten up their credit standards as well.

Talking with local cops that come in my office and they said repo rates have been up a lot actually lately, I think he said 30-35%. I’m not sure what the rates were prior to this...

 

[Joseph Garcia]

Been on the market for a Yukon AT4 this past few months and “swore” I’ll wait until I can find one for MSRP. Fast forward to today and found one nearby with a $5k markup and I have an appointment tomorrow to see it with the intent of buying.

Someone make me feel better and share some markups y’all paid or that the chip shortage will last for the next 100 years or something.

You've received excellent advice and perspectives from the knowledgeable folks on this Forum. The next decision is yours. I wish you the best in whatever you decide.

 

[Craigy]

How bad do you need five grand.

$5,000.00 can't even buy you a rolex anymore.

What would you do with an extra five thousand anyway.

$5k is barely a quarter inch of $100 bills. Barely noticeable. Kids carry more than that.

 

[ashabug]

I really didn’t want to pay markup. I found one that had no markup but was pulled from inventory before it ever left Arlington. I called a dealer in OK because GMC inventory site didn’t show them as having a markup, but I didn’t check their dealer site to see that it did… anyways they said the original person the car was ordered for had agreed to pay a $10k markup but backed out of the deal before it showed up on the lot, so they had dropped the markup to $7500. I was still not paying that. I got them to knock it down to $3k. I had them agree to my OTD financing price before I agreed to drive out there (1100 miles one way…).

When I got out there they found a few fees that they didn’t include in the original numbers we had discussed so they ended up increasing my trade in value to cover them. Since I register cars in TX the increase in trade in value means less I pay in sales tax. I’m still a little upset with myself that I paid anything over msrp, but currently you can’t get my build in a 22 or a 23 until they ship the backlog of 22s. But nobody knows when that will happen or what issues those cars will have.

 

[johnsmith4545]

If you are in doubt and have to ask for reassurance then I wouldn't pull the trigger. If you didn't care at all you would just do it and not think twice. I like to think of it like when you are making a left turn at a light on a busy road and you are in the middle of the intersection. If you see an opening to turn and hesitate one bit on whether to take it or not, you don't take the turn. You either know or don't know. There will be another opportunity to take the left when you are ready.

My Experience with Patience:

I finally got my window sticker on an RST that I ordered at the end of March and was built May 23. I got a good lesson on patience as the day before getting notified about the window sticker I was trying to get my hands on a similar RST that had a $10K+ markup (no way was I going to pay over sticker). Lo and behold nothing moved forward and the next day I got notice from my sales guy my car was in movement. Now we don't know when it will ship, but that's when I gave in and accepted the car will get here when it gets here. There are more important things to focus on (I got hooked on this forum lol). I have a functioning car for now and don't NEED the car right now.

 

[SouthernSwagger]

If you're in South Carolina then I've found two places that sell GM and one Chevrolet that don't mark up their vehicles.

But there's no way I'm going to pay over MSRP either. For context, I sold my 2007 Yukon a couple months ago so I don't have a nice vehicle at the moment. Just my golf cart that I drive to work and an old Ford truck. It'll be a cold day in hell before I pay a markup.

 

[Woopig74]

Don’t do it. You’ll regret it down the road IMO unless 5k for you is no big deal. If you’re having to ask for reassurance I’d say deep down you know the right answer.

 

[Jettix2]

No way I’d pay the markup unless the $$ is no object to you. We had a High Country Suburban we were considering but the dealer wanted full MSRP of $82k and we found a dealer who took our GM Executive referral coupon and got a Suburban LT w/ options for $63k……. MSRP was like 71k.

 

[THE YETI]

Trading in too? Used cars are getting more than normal so to me it’s a wash. Do what makes YOU happy and F everyone else.