Somewhat related to pricing: I dropped by one of our local Mazda dealers and got visually slapped between the eyes over what has happened to vehicle pricing.
Here in Oklahoma, the dealers are adding addendum stickers for upwards of $4,000-5,000. Over the MSRP. Vehicle availability, they claim. And “chip shortage,” I overheard. And equally astonishing is the fact that the sales department will NOT move off those prices more than several hundred dollars.
Therefore, by the time you get financing arranged, drive off the lot, you are so upside down in your vehicle that the creditors have virtually locked you into a financial situation you can’t get yourself out of.
I’m also seeing a dwindling of manufacturing incentives and low financing rates. I’m looking forward to the days when the car lots are overflowing with new year models, sales managers are begging you to buy their vehicle, and interest rates resemble something more appealing. (In 1981, interest rates for a “well qualified” buyer were hovering around 18% apr. Poor credit worthiness hovered in the APR’s of upper 20’s.)
Anyway, my rant is over. Are any of you finding this scenario in your part of the country? Just thankful I’m still having a consistent love affair with my 2018 Mazda6 GTR. I hope you guys and gals are as well.