Some new SUVs sell for $ 10,000 above the sticker price
MILFORD – The housing market pandemic has forced many homebuyers to pay far more than the listing price for a home, something that would have been unheard of 10 years ago.
Car buyers now face the same surcharges with some newer SUVs, pickup trucks, and even popular sports cars.
Paul Johnson, owner of a small business in Milford, Ohio, was stunned by a “market adjustment” of $ 10,000 from the MSRP of his new Cadillac Escalade.
“When I asked for the price, they showed me what the sticker was, and I saw that they had added $ 10,000 more to the sticker,” he said.
He had never seen anything like it in years of buying new cars.
“They told me that was what they were able to get for the car because it is in high demand,” he said.
Johnson doesn’t want to name the dealer to avoid damaging his relationship with them.
He eventually negotiated a few things but still paid way more than the sticker price.
“It’s crazy, really,” Johnson said. “You pay for a sticker, no negotiation, and if you don’t like it, they’ll sell it to the next person.”
We couldn’t find a local new car dealer willing to speak publicly about the surcharges.
However, the best way to avoid finding yourself in this situation right now, according to automotive website iSeeCars.com, is to not purchase some of the most in-demand vehicles, including Jeep Wranglers and full-size SUVs in three. rows.
“Smaller vehicles, economy cars, traditional sedans, they haven’t been hot in years,” said Karl Brauer, senior analyst at iSeeCars. “So this is where you want to go if you want to save money.”
Brauer says the vehicles with the highest average markups in September 2021 include:
- Jeep Wrangler 4-Door: up to $ 9,000 plus sticker.
- GMC Yukon (with GM Tahoes, Suburbans and Escalades): $ 7,000 more.
- Kia Telluride: $ 5,000 more than the sticker.
- Hyundai Palisade: $ 4,000 more than the sticker.
Surprisingly, the study found that even some sports cars are selling above the sticker price due to shortages, especially the Chevy Corvette and the Ford Mustang.
iSeeCars says it’s not a price increase, however, as the sticker is only a “suggested” price.
This is what the “S” in MSRP stands for.
Dealers expect the supply of new vehicles to improve a bit this winter as fewer people buy cars, but parts shortages and high prices are expected to continue into the next year.
As always, don’t waste your money.
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