Is there a place that discusses Canadian prices paid?
Hello from Colorado. Let me know what you think. Looking at AWD CX-5 touring with preferred package. Talked to just about every dealer here, and the best offer I'm getting is $28,800 (including all dealer fees, but not tax and title). That works out to about 6% off MSRP of $30,705, and 2.6% under dealer invoice for the car (they gave me the invoice). I will finance the car at 0% for 60 months.
Seems like an OK deal, but not a great deal. What do you think? I was thinking 7% to 8% under MSRP would be the target. All thoughts welcome, and I'll come back and post what I pay. Thanks!
Personally I'm not convinced there will be significant savings. This is not the credit crunch downturn 2008-2010 was, the economy will rebound much quicker. If Mazda is offering a few months of no payments that likely will be as good as it gets.
I read a similar article a couple of days ago when researching this issue, but the price drops were for used vehicles due to a glut.Umm lower prices are coming:
GM, Ford Credit Arms May Lose Billions on Car-Price Plunge
(Bloomberg) -- General Motors Co. and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts said.Prices are falling faster and steeper than JPMorgan was expecting, lead analyst Ryan Brinkman wrote in...finance.yahoo.com
sure the article highlights GM & Ford (they are a LARGE portion of the overall market), but other manufactures can't avoid the same fate.. how much and how soon is the big bet.
I've been watching prices since the quarantine started and here's what I think:I read a similar article a couple of days ago when researching this issue, but the price drops were for used vehicles due to a glut.
I could not find anything regarding new.
I've been watching prices since the quarantine started and here's what I think:
New cars (2020 models): supply is stable and new vehicles aren't being built. Dealers don't "own" this inventory so they don't have as great an incentive to unload.
Used, low mileage cars (2018/2019 models with less than 10k miles): I think this is where most of the deals can be found. These cars cannot be returned to the manufacturers and "cost" the dealer more for each day on the lot. Today (22-April) I would expect a 10% discount versus what the prices were at in early March (I saw a 2019 Mazda 3 with ~600 miles discounted by $2400 recently). These cars may not have hit bottom just yet.
With all the great incentives right now I've decided to trade in my 2018 Touring AWD with PP and 26k miles for a 2020 GT AWD with PP in the dark blue so no added paint cost. Bought the 2018 with 0% and will be financing this with 0% APR as well.
Price with loyalty rebate - $30580
Trade - Net $1500
Doc - $394
Tax - $823
Fees - $298
Total OTD - $30596
Good deal? 1 other dealer came close but others refuse to match.