The FL5 Dealer ADM Markup Thread

[CyberCTR]

So the Carsandbids auction ended at 49k bid. Didn't meet the reserve, not surprising. People are celebrating this as a win and ADM's are going down. Not sure how they equate that.

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[daazn]

So the Carsandbids auction ended at 49k bid. Didn't meet the reserve, not surprising. People are celebrating this as a win and ADM's are going down. Not sure how they equate that.

Market didn't want to pay over 50k. We'll see how dealers react to this

 

[SKINNIE]

So the Carsandbids auction ended at 49k bid. Didn't meet the reserve, not surprising. People are celebrating this as a win and ADM's are going down. Not sure how they equate that.

It is a win. Like the GR Corolla guy. They both failed to try and flip a car that isn't worth what the "market" thinks they're worth. ADMs won't go down much. The cars will just sit a little bit longer in the showrooms.

 

[CTR39322]

Market didn't want to pay over 50k. We'll see how dealers react to this

49k is appropriate since low mileage 21 FK8’s are selling for 44 to 45k.

 

[Bonito]

Making some calls today and fun things:

• ADMs are definitely coming down some, but most places are still asking 10k or above. 6-8k seems like the "good deal" sweet spot at the moment.
• Florida dealers are just... not picking up their phones. The only dealers I've called today where the sales department just let the phone ring were three different ones in Florida.
• Some dealers are still saying that deposits on "non-refundable" which, last time I checked, isn't legal in Georgia. Anyone else dealing with this?

 

[Clark_Kent]

Making some calls today and fun things:

• ADMs are definitely coming down some, but most places are still asking 10k or above. 6-8k seems like the "good deal" sweet spot at the moment.
• Florida dealers are just... not picking up their phones. The only dealers I've called today where the sales department just let the phone ring were three different ones in Florida.
• Some dealers are still saying that deposits on "non-refundable" which, last time I checked, isn't legal in Georgia. Anyone else dealing with this?

I've been told by several dealers around the country claim the deposit is non-refundable. I immediately move on from those dealers. Why is it non-refundable? What if you never get me a car? I just give you money, just because? Nah, I'll pass. Candidly, not sure why deposits are even taken. It's an administrative burden for the dealership maintaining a list of 30 people, with deposits taking payment information, emailing or printing receipts, issuing refunds, etc. It's not like a customer placing a $500 deposits makes them more likely to buy the car when their number is called.

 

[Bonito]

I've been told by several dealers around the country claim the deposit is non-refundable. I immediately move on from those dealers. Why is it non-refundable? What if you never get me a car? I just give you money, just because? Nah, I'll pass. Candidly, not sure why deposits are even taken. It's an administrative burden for the dealership maintaining a list of 30 people, with deposits taking payment information, emailing or printing receipts, issuing refunds, etc. It's not like a customer placing a $500 deposits makes them more likely to buy the car when their number is called.

The instance today was that the Type R is in transit, no buyer yet and the price was decent so they asked me if I wanted to put down 1K to reserve it. Which normally, sure! But how are you going to lock me into something non-refundable before I get paperwork that confirms the price, that they're not gonna try adding accessories to it, that they'll give me a fair trade-in value, etc?

 

[menikmati]

The instance today was that the Type R is in transit, no buyer yet and the price was decent so they asked me if I wanted to put down 1K to reserve it. Which normally, sure! But how are you going to lock me into something non-refundable before I get paperwork that confirms the price, that they're not gonna try adding accessories to it, that they'll give me a fair trade-in value, etc?

I was in talks with a dealer in Columbus, GA that had a $1k non-refundable deposit, coincidence?

 

[Bonito]

I was in talks with a dealer in Columbus, GA that had a $1k non-refundable deposit, coincidence?

Pretty sure we're talking the same dealership. Feel free to DM me to compare notes.

 

[Clark_Kent]

The instance today was that the Type R is in transit, no buyer yet and the price was decent so they asked me if I wanted to put down 1K to reserve it. Which normally, sure! But how are you going to lock me into something non-refundable before I get paperwork that confirms the price, that they're not gonna try adding accessories to it, that they'll give me a fair trade-in value, etc?

Yeah, hard pass. Looks like they were trying to get you.

 

[Doublestack00]

Market settling finally?

https://carsandbids.com/auctions/9WZzOOVV/2023-honda-civic-type-r

 

[Turbonium]

Market settling finally?

https://carsandbids.com/auctions/9WZzOOVV/2023-honda-civic-type-r

Granted this was a sgp, but people still paying over msrp for fk8 with 20-40k miles. Market feels like it's leveling at this point for exotic jdm's.

 

[RickyJeezus]

Market didn't want to pay over 50k. We'll see how dealers react to this

Lol...majority of dealers don't even have a clue as to what Carsandbids is...you think all their GM's got on a zoom meeting and watched the auction together?

 

[TypeSiR]

Market settling finally?

https://carsandbids.com/auctions/9WZzOOVV/2023-honda-civic-type-r

Yes, stick together and hold strong. Let ADM dealers and flippers collect dust.

 

[Doublestack00]

Lol...majority of dealers don't even have a clue as to what Carsandbids is...you think all their GM's got on a zoom meeting and watched the auction together?

Not saying they were, just thought it was interesting.

I finally just moved in to another car as I refuse to pay the markup. Finally got to drive a 2023 and that made my decision even clearer that it was MSRP or bust.

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