Should you’re seeking to purchase a brand new or used automobile, anticipate to get comprehensively screwed over by your supplier when it’s time to chop that test.
That’s the message we’ve been listening to for nearly two years as provide points referring to the pandemic and, extra not too long ago within the case of latest automobiles, a scarcity of semiconductors, means sellers have been jacking up costs throughout the board.
We’ve reported on this many occasions over the previous couple of years, however Donut Media’s latest price-related video will nonetheless have you ever gasping in disbelief. Since we’re speaking Donut right here, and never Bloomberg, the story is introduced as a goofy sport the place hosts James Pumphrey and Jeremiah Burton are given the small print and MSRP of a lot of new and used automobiles after which battle in opposition to one another to see who can come closest to guessing the true transaction costs.
The autos in query embody a 2022 Honda Civic Si, a 2022 Corvette C8 with the Z51 bundle, and a Ford Bronco, all of which you would possibly fairly anticipate to have modified palms for nicely above MSRP, although the truth that the in-demand Bronco “solely” value simply over 65 per cent greater than its listing worth reveals how desensitized we’ve develop into to this mad state of affairs.
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However a number of the most stunning mark-ups are on the automobiles you wouldn’t anticipate folks to be determined to purchase, like a used Ford Fiesta ST. The one exception to the development seems to be a 2021 Mazda MX-5 Miatasold by McDonald Mazda West, whose salesmen are both good God-fearing people, or haven’t but realized what they’ll get away with.
Donut’s video is a little bit of enjoyable, however the message is a severe one. We’re at present being requested to pay as much as twice as a lot for automobiles as we would have been beforehand, but wages haven’t risen at something like the identical fee.
Do you suppose sellers must be allowed to jack up costs approach above MSRP or ought to they be fastened by regulation? And has the present pricing state of affairs put you off shopping for a brand new automobile? Depart a remark and tell us.