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Don’t Pay Markups

Plombhpa

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Hal
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I hope that everyone interested in a new Type R will take some advice, don’t pay a markup. If everyone refuses to pay the markup then there wont be one. No one needs any car so badly that they should pay extra for it.
I was lucky and got the first Type R in Tucson at MSRP. Had a markup been required I would have passed.
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Turbonium

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Im willing to wager a ton that if you take that all or nothing stance there is a high likelihood you just wont get one.

And Tuscon has add ons which is similar to markups.
Seriously, there gonna end up like all the used fk8 owners that paid over msrp for used bc they were adamant about not paying a few k over msrp for new. Keep giving out bad advice so that I can get mine before there all gone :thumbsup:
 
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mbaapk

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Seriously, there gonna end up like all the used fk8 owners that paid over msrp for used bc they were adamant about not paying msrp for new. Keep giving out bad advise so I can get mine before there all gone :thumbsup:
Im locked in #2 in line w +$3k over msrp in writing. Ill take that deal all day.

My family is after at least 2, maybe 3.
 

Boostlag

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Im not paying markup. There are plenty of people that was able to get fk8s with out markups. Especially in a economy in a down turn. End of the day its just a car, its a want not a need.
 


mbaapk

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Im not paying markup. There are plenty of people that was able to get fk8s with out markups. Especially in a economy in a down turn. End of the day its just a car, its a want not a need.
I hear you, im just rabid FOMO.
 

Tickle

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There are dealers marking up a Honda Passport Trailsport... So you know the Type R will have it.
 

Boostlag

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There are dealers marking up a Honda Passport Trailsport... So you know the Type R will have it.
Watching the auto loan defaults rise not seen since the 2008 financial crisis, people buying cars that cost much as their salaries was not too wise. Auto loan industry is on its way to imploding the next 12 to 24 months. As inflation rises and more people lose their jobs, being underwater on a cnote, theyll just walk just like their houses.
 

mbaapk

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Watching the auto loan defaults rise not seen since the 2008 financial crisis, people buying cars that cost much as their salaries was not too wise. Auto loan industry is on its way to imploding the next 12 to 24 months. As inflation rises and more people lose their jobs, being underwater on a cnote, theyll just walk just like their houses.
Conversly, banks will be in the money on repos and with ongoing chip shortage and supply chain issues, defaults should only loosen the market a bit.
 


Tickle

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Watching the auto loan defaults rise not seen since the 2008 financial crisis, people buying cars that cost much as their salaries was not too wise. Auto loan industry is on its way to imploding in the next 12 to 24 months. As inflation rises and more people lose their jobs, being underwater on a cnote, theyll just walk just like their houses.
I don't know what it is like everywhere but here... I see people still staying in their financial lanes. Not leaving here with crazy high payments or anything out of the norm. Employment remains high too. I'll worry more if a recession impacts hiring and companies start to lay off workers.
 

Boostlag

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You’re gonna see higher interest rates, higher downpayment requirments and banks hesitating underwater loans.
 

Tickle

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You’re gonna see higher interest rates, higher downpayment requirments and banks hesitating underwater loans.
Higher rates for sure. Some banks and credit unions still have fairly attractive rates but for the most part those days are ending.

I don't see how a down payment will be an issue. I've just never seen it where more money was required down to get a loan. Banks simply look at the value of the collateral versus what you are asking. If they think the payment is too high for you or your debt to income is out of wack then I can see it but that isn't different than anything else.

Different banks have different policies and sometimes specials. It all depends on your credit too.

Banks don't want to go over 100% value on pre-owned cars. On new cars they don't seem to care with excellent credit. Obviously there are limits to that and it can impact the rate even a highly qualified person would get.

I'm no expert in this matter... It's just what I've seen over the years. The largest change I saw in banks for car loans was back in 2008 for obvious reasons.
 

Boostlag

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Considering vast majority of americans trading in for new cars will be upsidedown soon as they drive off the lot and while car prices and loans are increasing. Theres gonna be a breaking point. Dealers cant keep partying like 2005. Either way I have no interest in sending the sales man to Hawaii. I had no trouble finding a ps5, I wont have trouble finding a 40k car.
 

mbaapk

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Considering vast majority of americans trading in for new cars will be upsidedown soon as they drive off the lot and while car prices and loans are increasing. Theres gonna be a breaking point. Dealers cant keep partying like 2005. Either way I have no interest in sending the sales man to Hawaii. I had no trouble finding a ps5, I wont have trouble finding a 40k car.
Good luck
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