These Are The MOST Overpriced Cars With the Worst Deals Right Now
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- เผยแพร่เมื่อ 13 มิ.ย. 2024
- These are the most overpriced cars with the worst deals right now. We share a list of new cars from Consumer Reports and True Car with the highest dealer markups you should watch out for. We also look at an example of an overpriced car deal and a fair deal so that you are prepared before going to the dealer. If you are planning to buy a car in 2024, make sure to watch this video.
Visit www.omvic.ca/ to access free car-buying resources and sign up for the quarterly newsletter, Consumer Line.
You can also contact OMVIC’s consumer support team at consumers@omvic.on.ca or 1-800-943-6002 for expert advice and answers to all your car buying questions.
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ABOUT ME
With over a decade of experience as a professional car buyer and auto consultant, Shari Prymak has helped thousands of consumers with their car buying needs. Car Help Corner provides honest, objective, consumer advice with all aspects of car buying and car ownership. For more professional advice, check out Car Help Canada, become a member, and subscribe! - ยานยนต์และพาหนะ
To cut a long story short, I used to love cars but because of the relentless corruption in the whole industry including mechanics and so forth, I am not a “car enthusiast” any more, it is just a necessity/appliance that one has to have, just like an oven, refrigerator, etc. and that's about it.
I am really sorry that you lost the enthusiasm that the whole world (not only cars men) needs. Speaking and fighting against the corporations and the (mostly Marxist) politicians is important.
I haven’t, just bought my wife a new Lexus NX350h at MSRP, $52K OTD in cash. My love for a Porsche 911 is still there, I will get one someday.
Look up Marxism definition, then let me know which politician is actually Marxist.
@@tmntchad some read few pages from Marx, but I understood and experienced it for decades.
You succeeded ("bravo!") in not understanding Marxism, something that is quite obvious from the huge interference of the state with our existance.
Most of the democRats are commies, not to mention plenty of republicans.
@@codincoman9019 Okay, Russian bot.
A friend of mine in a dealership said most people come in with a plan to buy a car they can afford, and walk out with a car they can't afford.
This kind of thing never happens in Korea. You pay MSRP. Period. You go to your dealer, order your car, and it's delivered asap. No surprises.
Wish that were North America too.
We live in the land of the free where companies and the government rape the people's pockets
Welcome to America! Land of greed.
We can be our own worst enemies. I realize some people just HAVE to buy NOW but if people would just walk away when presented with these add ons (equipment or money), it would not take long at all for this garbage to stop. How did we get from nearly always getting prices BELOW MSRP to where we are now? We allowed it to happen. Your only weapon is walking out. If you're not willing to use it, we all lose.
Better than walking out, make sure you tell the guys in the "tower" (the big raised desk) how deeply disappointed you are and how their Dealer Greed has forced you to shop elsewhere, or keep what you have. But you will remember how they tried to gouge you and will let all who know you find out who they are. And be sure that they know you will be posting the details of their attempted fleecing with a Google Review on their Sales Dept and Dealership.
Then, go home and post it!
Wait for the phone call.
I was the Corporate Marketing Director of a Auto Group in SoCal. I would FREAK OUT if I got a review like that and bring you back with a new deal.
If they can play HARDBALL, so can you!!!😂
Totally agreed. I will drive my old car to the ground before I let the dealership rip me off on a new one.
look at the world today. these people are too stupid to know they are getting screwed.
I did, refused to pay $2-3k markup on a Lexus hybrid last year, waited a year and flew 400 miles to buy one at MSRP and no add ons. Bought it and drive it back along with a nice little weekend getaway.
Reminds me of an episode of "King of the Hill" where Peggy Hill proves Hank Hill wrong when buying a car. He always thought he was getting a great deal paying MSRP when, at the time, he wasn't. He was devastated when he learned he was getting screwed. Of course now depending on the car MSRP might actually be a great price especially when it comes to Hybrids and other high demand models.
I was quoted ridiculous markups for my GR86, finally found a dealer around 2 hours away who had one coming in from Japan at MSRP. I paid the deposit, took an uber and reached early and was able to drive off with the car in the evening. It pays to shop around and not give into the markups.
Then you should have bought the Subaru BRZ which is the Manufacturer of the Engines Boxer Type as well Assemble by Subaru Workers = and all should be from Japan...
For now; because of the Supply Chain and Waiting List too long... All Cars/SUV or Trucks from Subaru and Toyoda will come from Japan... We/I don't know about Nissan or Honda and Mitsubishi to make comment; but Toyoda and Subaru Owners can enjoy from now all Models are Shifted from Japan like the 1990's = which are of high quality and best QA/QC Assembly... Sorry to say that but I drove a Honda Civic Assembled in Canada Model DX 1993 and a Subaru Legacy Model L 1992 and/or Camry V6 LE Gold Edition from Japan; they were much better quality and Cheap... IF you just have to wait after Ordering them.
We can just drive on the older Vehicle/Car that we own; it costs nothing; just look old; unless something wrong or you have had, God Forbid, an Accident/Stolen that you can't wait... And have no other Car to use.
Cheers,,,
This author is from Canada. IN early January I had to help my sister buy a car in the greater toronto area. Soviet style 5 year plans are in full force up there.
Cars that are abundantly available in the US sell like American nike shoes in the 1980s moscow. It's insane. But luckily she had a trade in so we were able to negotiate a good value for that.
One of the better areas for buying a car is upstate new york and western pennsylvania / eastern ohio
Clear concise straight to the point , all your videos are extremely informative.
Me with my 2003 Monte Carlo SS I bought as my first car purchase for 4800 and has 150,000 miles and still runs really good
Great vid as usual, keep it up. Very helpful!
Great content and insight to how dealerships work
Also saw Shari on an article about dealerships forcing consumers to choose financing options... That'd be a great video to do a topic on as well
Great idea. I'll work on something 👍
I would like to see that as well. Last couple cars I bought they just told me who will be financing me.
Before buying any hybrid vehicle new or used try to find out the cost of a replacement battery if you are planning on keeping it longterm. If you are buying a used hybrid try & get the battery tested to check its capacity & health.
Battery cost today unlikely to be very useful for estimating cost 5-10 years from now 😊
@@mj8495 if a car maker is charging $38K US as much as the car is worth for a battery now & leaving their customers high & dry. This is a good indication that their batteries will be overpriced 5-10 years down the road.
@@enajenaj6841 New hybrid batteries sold today are rated for 150,000 miles. Think of how much battery technology has changed just in the past 5 years. The market 10 years in the future is not even going to be recognizable compared to today.
Thank you for sharing. Very informative.
Thank you for this very helpful information.
No problem!
Dec 15, 2023, I paid $28,500 for a 2024 Toyota Camry Hybrid LE at $355 less from the Toyota MSRP $28,855 not including $1,195 for delivery. The dealer added more than $5,000 option to $30,050 the delivery price and I ignored all the dealers options added to the vehicle.
Tactics: Be firm on the offer price and ready to shop at a Honda dealer nearby. Always say do not like the color of the vehicle
Did they take the add-on prices off and give you the vehicle with the add ons included?
@@ms.lynette6836 Yes, everything on the add on options including an extra carpet set
@@ms.lynette6836 The dealer, Auto Nation in Houston, didn’t remove anything from the vehicle. I paid $28,500 for the vehicle was asked at more than $35,000
Well-done! Thank you!
Good video, thanks!
An opportunity for the dealer to rip consumers off.
I am buying a car tomorrow the thing is they hate me because I pay cash. And like to think I am savvy enough not to listen to their crap.
Telling them you pay cash is a guarantee to pay more. They make money on financing. Want to save a thousand bucks or more? Take their financing and then the next day call up and pay the loan off in full. Just make sure there's no prepayment penalty
Thanks for those tips buying a vehicle. Your explanations are helpful and make sense. It would be great to learn about hybrid vs plug-in technology, and perhaps compared to all electric. Also cover pros and cons. Thanks. Sharon
When i think overpriced i think Honda. Dont get me wrong they're great cars but not 10k greater than the equivalent Toyota. Just saying.
Good advice 👍
A Toyota dealership at Stevens creek in CA was selling a 2024 Toyota Prius limited with a several thousand dollar markup. Total price was $51,000
Sadly it's too common
Go to SF Toyota, just saw one at MSRP a 2024 Limited. Other ones are $2k markup including Prime.
Finally, I watch your vids and all you usually do is talk about how great these cars are. I get customers come to me asking for one and they don't believe me when I tell them the car is not worth the price the dealerships are charging for. This video should have been made waaay before you advocate to consumers to buy these in the first place to save them the frustration and the sales people time. Afterall, as a sales person, I believe to do what's right by the customers first. BTW, I have CRV HEV's at no mark up and might even be able to discount.
Since most folks don't purchase an auto until every 5 to 10 years or more they have little knowledge about the process, especially after the COVID crisis that caused huge supply chain problems causing dealers to hike prices far beyond MSRP. Some of those problems still exist so there are still many dealers trying to recoup profit losses by increasing prices on desirable vehicles beyond their MSRP... this is an excellent video to help those consumers who are just now getting back into the market for a new vehicle... buyer beware!
Thank you!
I'm keeping my 2016 Toyota Camry for another 10 years. It's a baby, only 21,000 miles on it. 🤗
My 2017 Lexus ES350 just hits 41k miles. Bought it in 2017 at $32K plus tax fees. $35k OTD in cash.
Perhaps enough people will buy used or just make do with their older cars for a year or two. Clearly, things will have to change! Part of the problem, I think, is that manufacturers are making too many models/variants and not enough more basic cars. This makes for more production problems and faults in each car. People like me are just getting disgusted with the incredible costs for the car itself, the rising insurance and the high cost of financing (which will gradually improve but take time.)
If you are paying over msrp for a kia you need your head examined, should be getting 10 to 20% off for all the headaches you will have with this brand.
😂😂😂😂😂😂😂😂😂
There are Toyota dealerships that sell at MSRP. I bought my Prius Prime XSE Premium in October at MSRP, but I waited 6 months for it. I got lucky because another customer canceled their order and it matched my order.
So you take a reservation and put a down payment?
great channel!
I will drive and maintain my existing cars until they are no longer road worthy.
OEMs are shooting themselves in the foot. One dealer quoted me 37 grand for a Prius AWD. I could get a Model 3 for close to the same price after tax incentives. I never even considered a Tesla until now. They are literally driving consumers into the hands of Elon Musk. It's insane.
Hopefully OEMs wake up.
I unfortunately had to buy a new car last month. I was looking at those supposedly cheap 2024 Chevy Trax 2RS just because of the $24,995 MSRP…I needed something affordable and I kinda liked the way they look. My local Chevy dealer advertised them at MSRP but when I got there they had packages and Market adjustments making it over $28,000. For $1,000 more I bought a Mazda CX-30 with AWD not FWD, a real 4 cylinder engine not a tiny 3 cylinder like the Chevy and much better reliability track record. Sometimes the greed of the manufacturers and dealerships is a blessing in disguise, it forces you to go elsewhere and find a better Value for your money.
@@jayson657 You did well and ended up with a much better car too 👍
well there is the thing that tesla got right....no salesmen...everythign is done online.....wich is how every car company should be
@@Scypher0th Truth! I’m also interested in seeing how Amazon selling Hyundai works out. Not my favorite brand of car but I may consider one in the future if I can skip being taken advantage of for thousands of dollars by sleazy dealerships and salesmen.
This is very valuable information. I'm not in the market for a new car, but if I were, it would be for a Toyota. But to pay above MSRP and to have to wait months would be deal breakers. I'll keep my trouble free 2013 Cruze with 46000 miles on it.
I got a 23 Rav 4 Ltd Hybrid in May for MSRP.....yes I waited 7 months but hey planning and patience pays off. If you need it NOW you will pay
Well done 👏
My true story: I have been looking for a Sienna or Carnival since Dec 2022. Most of the dealers have markup, either fixed or negotiable. I skipped all the dealers with markup and finally found one Toyota dealer in PA who doesn't charge markup in Nov 2023. They had a 2022 XLE with only 193 miles. MSRP was $43780, I asked for a discount and they agreed to sell it at $43000.
193 miles? That is technically not a new car. It is likely test driven by at least 10 people. I would not buy a new car that has been sat on by other potential customers that much. It has to have less than 10 miles on it. The break in period is important.
Do you think getting 800 dollars off on a used car is a good deal?
43k for new 2024 , I walked out and dealer keep calling me back.they have vans in stock and can’t sell them.
@@raymondwong7674which dealership is that? Is that 2024 Siena xle ?
Only an idiot pay over msrp..unfortunately usa is full of them
I thought it was illegal in Canada for dealerships to tack on markups like they do in the US. What is going on these days? I was just curious and looked up the new 2024 Chevy Corvette where it’s MSRP is about $65k but dealers are asking insane prices well above $120k for a basic model..just crazy.
it is illegal on "NEW" with 0 mileage vehicles. They drive the vehicle 100-300km and consider it used, and now they can do markup more than MSRP and it is Legal considering the vehicle is used. And thats why you will see lots of vehicle for sale with 300km on it or less.
AHA! It explains why dealers in Winnipeg are selling 2024 models, with very little mileage, way above the price of a new one that you could order from factory. Thanks,for this...@@jeromesurio2068
@@jeromesurio2068Real pond scum.
Because the rich must get what they want. That will never change.
It is illegal, but they either register them as used, or more commonly, they tack on a bunch of add on options (protection packages and accessories) and “mandatory fees” so it’s included in MSRP as dealer added options
to get a toyota hybrid at msrp you need to order and wait a few months. This was during the summer of 2023, its possible things may have changed or will change next year.
I have a 2020 Corolla, Lease is up next year, the dealership is already on my case to just turn over the lease to another Toyota vehicle, so they can keep me as a solid income for their dealership.
However, I want to look into getting a SUV, either Mazda CX-5 or 50, or Nissan Qashqai.
The RAV4 is way overpriced otherwise I may have considered staying with Toyota.
I don’t think I would do a trade-in option, I have some minor bumps and scrapes on the front fender, and I know the dealerships will try to lowball me due to that anyway. I’d rather sell it private. It has less than 80K on it, mostly local traffic driven (in southern Ontario), very good condition.
Any advice on small to mid-sized (compact) SUVs?
What are the mandatory fees ]that are required in Ontario when buying a new car.
do you have a usa version of OMVIC?
When my lease was about 4 months to expire I went to 2 Toyota dealers looking for a hybrid, and not happy at all that would have to wait 6 months to a year.
Toyota in Toledo OH is selling their cars at MSRP or below MSRP these days. I bought a Camry 2 years ago at MSRP and a Grand Highlander two weeks ago at $1,000 off MRSP.
In America anyway, this whole "selling above MSRP" phenomenon seems to be something that's only happening in coastal states. I've been shopping in Nebraska, Iowa, and Minnesota recently and they're all charging MSRP or below. Before buying a car above MSRP, those people in New Jersey or California should look into dealerships in the Midwest or the great plains or Texas. A one-way plane ticket to pick up your car and drive it back home would probably be a cost savings.
I am still keeping my 18 years old Camry with 200 thousands miles
New ones are just refreshes.
Will they still stocks your 18 years old model spare parts in years to come ?
Exactly right I found actually the mark up on the Prius was 7500$ walked right out.
I spent weeks looking for a new VW Golf R. This will be the last year it's offered with a manual trans. Dealers in my area are asking $5-7K over MSRP. One was even asking $10K. I found a dealer about six hours away who was far less greedy and I was able to negotiate a deal on a '24 in my preferred color of Belize Blue. It was a very long day, driving nearly 800 miles round trip, but well worth it. The markups are insane.
Any markup is insane, especially for cars that are far away from reliability and low TCO (Total Cost of Ownership) tops. I got about 20% discount vs. MRSP for cars that are champions in reliability and economy, therefore I am sad that some people are dumb enough to pay over MRSP for unreliable and high TCO cars.
Last month I bought my wife a 2019 Crosstrek with a no time limit 200,000 km warranty for $30,000 after taxes. I paid cash for it so no finance. I also bought my used 2016 Mazda cx5 in the summer for under $20,000 cash.
We feel good knowing we didn’t finance either vehicle.
NO ONE ASKED
Mazda is a great car under MSRP. Too bad many people only care about Toyota and Korean cars because of the trend. I almost bought Mazda 3 last year, but we found a dealer with only 1 Hyundai Elantra Hybrid left for $29,760 out-the-door price with bumper-to-bumper platinum warranty 100k miles or 10 years. I bought it instantly since we never keep the car more than 100k miles anyway.
Two friends bought three Tesla 3 for over $75k each in 2022, and my uncle bought an RAV4 Prime for $66k. I wonder how they feel now.
@@DarianDT
First, We/I don't buy any Car but Japanese Old Brand like Subaru,. Toyoda and Honda (we/I had bad experiences with Nissan /Datsun) = beautiful look but Engine so much problems. I have a dear Friend, he came from South Korea = an Architect but he droves Honda Accord's and or Acura ... Haha.
All That speak volumes; Warranty Meant nothing; it just cover your Costs but not your Head-ache brought to the Dealer and or Shop = sometimes miles away for Repair at no cost but = your time is Money$.
Mazda are good Cars and all of them sold in Canada came from Japan and some new Model 3 Came from Mexico... Problems with Mazda = waiting for Parts too long. If you drive a Car and then either give away or don't spend any more money on fixing it after 15 years = that is it should be = as you repair a Car/SUV = you pay for Labours for Old Parts to be taken out and New Parts to put in and that is doubled cost for Labours; and New Parts come in will destroy old parts like Axels... etc.
A New Car/Vehicles built in an Assembly Line with Engineers set up for Mass Productions = Cost less... But if the Car old but cost nothing to repair like Our Old Subaru Legacy 1992 until it was stolen last year May 2023 then that is a story...
Cheers
About Cash payment and No Finance if Dealer sometimes took Credits like Toyoda and Finance at 2 percent before Pandemic then you better Take them because the Cash could be used to invest to Stocks like bought before Pandemic and or right during Pandemic time = Dealer desperate for getting Cars moving out the Inventory, And Stocks plummet = Buy the DIP = One can make more Money that way... So just depend upon Case by Case not always
Pay by Cash is the King... except mortgage for the House, if you had cash like Elon-gate to pay for that is sure = but Elon is a Crook pay himself like a King / Prince Saudi MBS Murderer and left Workers in the Sweatshop = Like those Tessie M0r0ns Model 3 LR Dual Motor sold in Canada last year for 80k CAD$ and paid for Shanghai Workers 1500.00 US Dollar per Month having Worked 200 hour or more monthly = that a Rip off only Communist allowed that...
C'est La Vie! laugh
@@DarianDT And the People bought Teslas in later 2022 like November by May 2023 the same car Model 3 LR sold for less than 22% of those November 2022 = That how I have called/Name those Owner Bragging Tessie M0r0ns!!!
The problem is with those shoppers paying for overpriced cars, because they are impatient and do not allocate time to research and prepare for alternatives, not with those dealerships asking more than the MRSP.
I always got big discounts from the MRSP on my cars, even last year (through research and negotiation, not being fixed on a certain colour or options - even though God helped to get what I needed).
Moreover, this is old news, because the prices started to go down!
Prices are mostly dropping for the cars nobody wants. They aren't really dropping for the ones mentioned here.
How did you manage to get God to assist you?
@@keithwalters1389 , I didn't. God has enough to do with far better people than me. But what I got (little different from what I wanted) proved to be better for our needs 😉
@@keithwalters1389just go to church and sign up for their auto buying service 😊
@@carhelpcorner, happily some of the best cars worldwide (not what some others recommend, but the most reliable and low TCO cars) are not all in this video and you can buy them below MRSP - like I did.
These dealers are living in Mamby Pamby Land. You can put any price on a car, wish in one hand and do-do in the other hand and guess which one fills up first. It’s a desperate attempt at trying to recoup losses before they have to give them away. Stay patient, it will get to the point where you walk in, name your price and drive out with your new car at your price. They can’t hold this volume of inventory indefinitely. Right now, car buying is purely a waiting game.
I am hearing that dealerships are now inflating the dealer invoice price to make it seem that they are paying more to the manufacturer than they actually are. Is that accurate?
I would try & do my homework before going to a dealership. These new car salesmen will lie & tell you anything to sell a car. Once you sign the sales order & complain you were lied to the sales manager will tell you to bad you signed the sales order. It happened to me when I bought a new RAV4. If you are in Toronto area I would use Car Help Canada or Automobile Protection Association to get pricing details then you have an idea how much you should be paying. You need to pay a membership fee it is small compared to the money you could save.
Part of dealer gouging..."document" fees. Some in my area..895.00 to fill out paperwork. Then the usual " paint protection...nitrogen...other garbage
A dealer in Westchester County New York is asking $7,000 + price adjustment for the Prius.
Can you please make a video on vechile with the least interest rate in canada?thanks
I put a $500 deposit for my 2023 Toyota Camry SE hybrid on early October 2022 with MSRP price . No mark up, no add on. It's been over 14 months . The last I heard was in early November that I am still on #6 wait list. The dealership is one of the top in USA . I contacted my sales associate, no respond yet ? Any idea what's going on ? Thanks .
Wait it out,don’t buy now.
@@raymondwong7674
Okay. Thanks. Now I am eyeing for 2024 Honda CRV sport hybrid . Any suggestions?
The 2025 got announced already with a redesign. Will be here in the spring not too long to wait
Okay. Thanks.@@RMSUkraine
Amazon is getting into selling cars, if successful it may be the start of phasing out dealerships.
We will still need OEM serviceships
Shari are Canadian dealerships now adding market adjustment? When I bought my 2022 Toyota hybrid they weren’t marking up. If any dealership tried adding on this bs market up I’d be walking out the door.
Dealers across Canada are forcing buyers to pay for unnecessary add-on products and fees which are a form of market adjustment. Sadly it can be tough to find a dealer not doing this in some form.
I found the opposite is true… I bought a Kona N-Line Ultimate and thought the interest rates would have bumped it up a lot.
I got a much better trade in value… bought it in April and got it in August (they build them in June), it was a 2023 and I ordered it in 2022… so 5 months later
I added what I normally would and got a very good price. It was a Standard every thing though… if you want custom go to Porsche.
These luxury brands don’t have the same issues, customers always custom order their cars. They know they have to wait… the rest of us aren’t used to it. So if you can order a common colour and trim. You won’t wait as long and you won’t pay more than MSRP.
Good video. Days for bargaining is OVER, especially with some manufacturers. You would be extremely lucky to get any discount. At least you should be paying MRSP, and no more, but deals are done for now. It might return. On Toyota Corolla and Rav4, as an example, you would never get a discount. Now for used cars that might be different. If anyone gets a discount on a Corolla or Rav4 in Ontario, please let me know.
It's hard to tell when supply will return to normal as I personally believe manufacturers love it this way.
It depends on the dealer. On a dealer 5 miles away from my city was making up via fair market price. Yet the dealer in our city was at msrp. Guess where shoppers went? I purchased a 2023 Supra at msrp. Th clue is “some dealers.” Remember, the word from this video, “some.”
Been a happy client of Shari for over 10 years now.
Great to hear 😊
With the dealer markups on the hybrid vehicles it seems like it’s not worth it. So you save some gas over the long haul but you pay a premium up front to take it off the lot after waiting a year to even get one. So I just bought a new gas crossover and I’m happy, and I paid zero dealer markup other than the usual rip off add on dealer charges
Lol
Purchased 2 Kia Niro Hybrids (EX) since September. One for me and one for a friend. My Ohio purchase was straight forward at $1000 under MSRP as it was a 2023 as the 2024's were coming out. I hepled a friend in Davis California purchase an EX hybrid for MSRP. The Davis dealer tried the old "good cop bad cop" on us and the "wait them out trick." I told them we were not paying any dealer markups. They tried tacking them on and I told them if they were not interested in selling us a car that was OK and we would leave. The sales person promised no dealer markups and then tried adding one on us( plastic door protectors at $399, a $20 part at Walmart). The closer came in at $4000 above MSRP. We rebuffed both and threatened to leave. They caved in and finally gave us the deal we expected.
Well done! 👍
MRSP is too much for unreliable and high TCO cars.
Toyota makes the most reliable cars, according to consumers report, 7 out of the 10 most reliable cars are all Toyota. No wonder they are hard to find. Buyers are willing to pay more to get the best cars.
Well said, can't really blame a dealership for selling over MSRP. I mean. Why sell for $30,000 when you know there is a buyer willing to pay $32,000. Sure they might have to go through more buyers and take weeks to find the buyer, but it's the logical route.
we live in a repub. criminal repub. corporation dictatorship cvt and turbo on mini eng are built in to fail 10 min after warranty expires!!!! 65 years as mechanic!!! I know junk when i see it!!! dont buy junk ... if you do not buy the greedy ruthless criminal corporations may drop the price to half and improve their rotten junk!!!!!!!!!
All minivans had big sales increases last year. Kind of stupid for Dodge not to have a version of the Pacifica.
For any problem, the best cure is prevention. People need to stop going to dealerships and buy directly from manufacturers who offer this option or buy from private sellers whenever possible, until these greedy dealers are forced to price their products reasonably. There is no other way.
In most states, it's illegal to buy directly from the manufacturer. The only exception right now is EVs.
Was approved for 15k at 9% with a payment of $375 for 48 months 😢😢😢 with tier 1 credit ouch 🤕
I was looking to trade in for a new Civic SI which is about $30K MSRP, the out the door cost I was given was $44K. Unbelievable
That sounds like a great deal in Canada… it’s 40K here MSRP
Invoice price is not the dealer's actual cost though. There are dealerships that specialize in volume sales in sell everyday for 4% UNDER invoice, which should be below cost and unsustainable, but that's only if you forget to factor in other revenue streams: dealerships also get volume sales incentives and holdback.
You're correct for many dealers but not all. The incentives or holdback are not enough for some dealers to sell at or below invoice. Always worth a try though.
Until the market changes, they have really low overhead due to vehicles selling quickly, don't need a lot of salesman since tire kickers are more rare, and no need to even advertise. Eventually they'll have to work hard for every sale, but right now they are kindof a middle-man not adding much value. Its a shame you can't factory order direct and have it delivered amazon style to your front door. @@carhelpcorner
The big question is: Do you think car prices will come down in 2024, if the global economy goes into recession?
I have been waiting patiently, but wonder how long I should wait.
Recently I purchased a 2023 Rogue instead of CRV and RAV4. It's almost 7,000.00 saving. Rogue sales in Canada is made in Japan that is as good as Toyota and Honda.
Just remember those Nissan CVTs cannot take abuse. DO NOT accelerate it hard all the time. And have the CVT fluid and the Two filters changed every thirty thousand miles, and you will be fine.
That Nissan CVT. No way Jose.
Purchased a 2023 Camry from Karl Malone in Utah. No mark ups, no add ons. Credit Union financed, lowest dealer fees. This is the place to buy a new Toyota.,
Thanks for sharing this!
Not all Toyota dealers in the US are doing that. I bought my 2023 RAV4 XSE in August 2023 for MSRP here in Western Illinois
I've been waiting for a settlement and/or a closing, either gives me the cash to buy what I want. The delay was a tremendous blessing as what I was going to buy would have been a BIG mistake, a Prius LE. Had been driving 4x4 trucks and SUVs for 20+years and didn't realize living at the top of Vista lane and a winter ice storm of a week would be A REAL project. So now it's Corolla Cross hybrid. Saw almost exact unit I'll probably have to order, discounted $1200 70 miles away. Chex in the mail. I don't have to have it any time soon, just want to. Bought my relocating roommates '08 Civic loaded 188k miles in September... FUN GREAT little car. Utterly horrific in just a little bit of snow 😮 AWD next 😅
I didn’t see that as such a bad deal… I added the rust inhibitor module this time and the salt just falls off. I don’t feel like I have to wash it underneath all the time.
My last 2 cars have it and my oldest one has 85,000km and I haven’t had to do brake pad replacement yet. Just servicing…
I can tell you on a similar car without that module I replaced rotors and pads at 50K and 75K… so that $2,500 module has saved me $1,000 in parts and service so far.
I would have paid for a protection of some kind anyway so it was definitely an extra cost but so far it’s lowered my maintenance costs.
Tires and brakes can really add up… I have original tires and winter tires that are both in great shape after 4 years of use, should get at least 6-8 years worth out of tires, just paying for tire swaps and rotation
❤❤❤❤❤❤. How to get the invoice price of the car I want to purpose?
Car Help Canada provides it to Canadian members. In the US, I'm not sure where you can find it.
supply and demand..normal market forces. Do not expect a bargain when supply is short ..does not work that way.
Just bought a new maverick for $750 under MSRP
As long as consumers continue to pay dealerships will continue to ask for more
As in any industry
Totally agree everything is too damn high but if we're talking hybrid let's bring up how expensive EVs are. At least hybrids are more practical for most people. Also, I was just at the Ford dealership the maverick doesn't really make much sense because it's so close to the Bronco pricing. More people will take a Bronco over a Maverieck unless they are looking for a car pretending to be a truck.
Dealers are just that Dealers not matter what the product they are dealing. Mark-ups as they see fit and as we can see in the comments sometimes there is no wiggle room. Walk away, for 1 2, 3 or more years, see what happens to prices if done by the millions of potential car buyers. Thank you for covering this topic.
Any new vehicle will be overpriced if you go for the top trim level snd tick off every option. Hybrids are in short supply. Only way to buy a new one is to order one and get your price in writing.
I actually went with a gas version because it was quicker and cheaper… 5 months instead of 2 years
does invoice price in Canada include dealer "holdback" (typically 3% on GMC autos in Texas). Also, in Texas (and Louisiana, OK, AR & MS), Gulf States Toyota is the Toyota distributor for all dealers in the region. Gulf States adds unnecessary stuff like paint sealant, striping, etching, or other nonsense items and issues a "TSRP," or "total suggested retail price." Thus, my family usually goes to Illinois to buy Toyotas.
In Canada, MSRP is normally 6-8% higher than invoice. This doesn't include the holdback. Markups are rare, but many dealers try to push all the add-ons.
Outside from the Toyota hybrid and the 911 not ONE of these vehicles have any right or reason to be marked up.
Just sigened the papers on a 2020 mazda. Great company to work with compared to other dealers.
I went to Honda . I think that day they were on a dry spell and gave me a deal on a lease but they still wanted to add in most add ons. Especially the tire and rim. They didn’t force any add ons though and you did have the right to say no.
Maverick is great. I wonder why they stopped making small trucks in the first place.
I thought car prices being over the MSRP is an Egyptian exclusive thing ,,but I figured out it’s happening in USA topp ,,, but still that never happens is gulf countries like Saudi Arabia or Emirates (Dubai)
On the last section of this video, after the negotiation, the dealer makes about 3% profit. How does that dealer stay in business on those margins? I assume you all must do a lot of shop business.
Two ways: 1) High volume, and 2) Oil changes. An oil change and tire rotation at a Toyota dealer is like $110 and it only costs them like $10 in parts and 20 minutes of a technician's time. But people will pay it because independent shops and places like Jiffy Lube are crooks who will mess with your car and try to sell you on service you don't need.
Picking up my new Grand Highlander at MSRP this week. Look around, don’t get taken advantage of.
Hi Sir, i got a question, i realized that the car deal that i have is way overpriced, can i reach out to OMVIC for this?
Only if you bought in Ontario and if the dealer advertised a price that was lower than what you paid. If there was no price online or anywhere else from the dealer, the dealer has the right to charge what they want.
@carhelpcorner I live and bought it in Ottawa, there price of the car in there dealership website is always the same as what you see in the canada website of the brand.
@@mackycuarts If your price is higher than the price on the dealer website for this exact vehicle, then contact OMVIC's complaints department and report it.
@carhelpcorner I actually tried inquiring the financial manager via text and he replied to me that he's in vacation and asked me to called the dealership so that somebody can take a look for me about it.
I bought the car 4 months ago.
I called the dealership and the guy from the sales dept told me he'll tell the guy who was my sales representative for that vehicle to call me and when that salesman reach out he told me he couldn't take a look and keep insisting that is just the price.
I told him the line here just says selling price (Incl. Delivery and extras) 69,047.20, other than else there's no explanation where they came up that price from the vehicle price of 61,495. I was hoping to get a breakdown about it but they didn't gave one and told me to wait for the finance manager to come back after vacation to give me the breakdown and details about it.
The 69K doesn't include the gst/hst yet so when they add it the selling price went up because of the 8,976.14 tax. Which makes it almost 80K as the bill of sale price
toyota and its dealers are delusional especially with the increased msrp and markups for the sienna. local dealer wanted to place us on a list, and then weeks later were offering an xle awd with tax and title and markups would come out to $60k. nope!!!!! went with a odyssey and it was $15k less.
Just bought 24 Kia soul with 3000 markup.
Looks like I won’t be buying a new car again. I don’t pay sticker let alone a mark up. I got $3000 off sticker for a new 2020 rav4 for my wife in 2020. I guess we will be keeping it for a long time. If people didn’t pay mark ups there wouldn’t be any.
I was looking for a Volvo V60 Recharge. Very rare wagon. $10,000 markup....Crazy!
Never buy a Chinese commies' clunker (such as Volvo, Jaguar, Land Rover, MG etc.), not even under MRSP. They are highly unreliable and have a big TCO = Total Cost of Ownership.
luxury , buy base model still has all the same safety , over the top trim level of the model the dif. in price will pay the tax and fees
They don't make base models anymore.
@@jimpitt7112 buy a toyota crown over a platuim most car models have 3 -4 trims buy the sr5 over the capstone etc
But what about financing? We know there's commissions and other charges there too.
Securing the vehicle price is step 1. Get the best deal on financing and your trade in are steps 2 and 3.
What are some msrp toyota dealers?
Isn't your video a little old? We've got car guru's claiming historic collapse by the dealers because prices are crashing?
So in Canada the prices are going up? And US dealerships have reductions in pricing. O . . . kay!
Prices are not crashing for the ones mentioned in this video. The ones that are dropping are mostly expensive trucks and domestic automakers.
Do your research beforehand online, select your car, determine your budget and don't change your mind after walking into the dealership.
I went out to buy Toyota but when I found exploitation from dealership, I denied and went to Mazda which went well! Reliable and way better interiors that plasticky Toyota!
Well done, many shoppers are too stupid to go to an equivalent model. They are clinging to a specific model, colour, trim model etc. instead of researching alternatives. Then you can negotiate with few dealers in parallel, telling them you do have a little better alternatives with another dealer - ideal is to get well below MRSP.
Yep, Mazda is sometimes better than Toyota (see the list of reliable - as per Consumer Reports surveys - and low TCO - Total Cost of Ownership - best cars). Plus that Mazda went premium, above the upper mass market Toyota (but not to the luxury level of Lexus), for the last years models. Their line of design is superb, I have a Miata ND2 RF Top Revolution.
What model did you purchase?
I disagree. I purchased a 2023 Highlander platinum. It all depends on the dealership not the car brand and I negotiated a fair deal.
Regular Highlander non hybrid are all discounted here in the SF Bay Area. Hybrids are at MSRP.
The upside is these hybrid Toyotas seem to hold value pretty well. Especially if you didnt buy brand new, but 1-3 year old used with low miles, approved condition. (Northern Europe)
These 1-3 years used Toyota are list similar to new cars and some are even $5000 -$10000 more than new cars in BC
Canada
hybrid RAV 4 is one of the example
It is a false impression that they hold value that well.
Just substract the huge inflation that the official statistics are not fully showing - this is the big change that is presenting a few years old car (that is indeed better than the new ones) at almost the MRSP of a new car, that many dealers are selling with a few thousand markup.
This is called opportunism, which is apparently legal in the capitalist market we live in regarding of whether it’s moral or not
All dealers take admin/dealer fee. Can you avoid that?
No they don’t in all states. Just bought a 23 Santa Fe well under MSRP and no extra dealer fees. Just sales tax and 275 DMV fee. Find dealers that are willing to deal. Cars are not selling like they were even 6 months back. Quit paying MSRP and dealers will get the message.