cancel
Showing results for 
Search instead for 
Did you mean: 

Why are dealers raising prices?

1984
Regular Contributor

Why are dealers raising prices?

Why are dealers raising prices?

I was watching several used minivans and the dealers have bumped the prices. One was by a bit over 3k. Taking something from 12.5k and making it almost 16k seems ridiculous and I am not understanding the reasoning. It is several different dealers to, not just one. The values of the vehicles are under 12k to. Anyone know what the deal is? I also went to purchase one and the dealer would not sell it to me for the 12.5k that was listed up to the day before even after I showed the screen shots I took of it and them admitting it had been raised for whatever reason. Bank wouldn't even finance it for their price saying it was to high for the vehicle. What gives?
Message 1 of 10
9 REPLIES 9
GeePee
Regular Contributor

Re: Why are dealers raising prices?

It's income tax season and the vultures are preying on the financially weak.

Amazon Prime Card 5000
AMEX Green NSPL
AMEX 1000
AMEX Hilton Honors Ascend 3000
PayPal Credit 4500
BBVA Compass CP 5900
CheapoAir Visa 2500
Care Credit 15000
Discover IT CashBack 13,000
NFCU Cash Rewards 9000
NFCU Platinum 10,000
Cap1 Quicksilver 1100
VS VIP Card 2350
Kohl's Charge 3000
SamsClub 8000
NFCU Auto Loan 22k.
Starting Score 5/2017: 526
Current Score: 704
Goal Score: 780


Take the myFICO Fitness Challenge
Message 2 of 10
ClassicMan
Valued Contributor

Re: Why are dealers raising prices?


@GeePee wrote:

It's income tax season and the vultures are preying on the financially weak.


+1

Dealers can definitely smell those W-2' printing.

12/18/19




05/27/20





Cards

Authorized User
Message 3 of 10
1984
Regular Contributor

Re: Why are dealers raising prices?

So I am going to need to wait then to buy until April? May?
Message 4 of 10
ClassicMan
Valued Contributor

Re: Why are dealers raising prices?


@1984 wrote:
So I am going to need to wait then to buy until April? May?

Have you tried looking at dealerships an hour or two away from your home?

12/18/19




05/27/20





Cards

Authorized User
Message 5 of 10
1984
Regular Contributor

Re: Why are dealers raising prices?

Yes I have. Seems to be an all over deal of increase.
Message 6 of 10
Morpho
Valued Contributor

Re: Why are dealers raising prices?

Use the car buying apps. You can see exactly where you need to go to get the price you want ane what the real value of the car is. I like cargurus but they are all very similar.

 

Also we just came out of "end of year" season which typically see prices slashed. The prices could be going back up to their normal level.

Message 7 of 10
1984
Regular Contributor

Re: Why are dealers raising prices?

In some case I believe that. But these are well over KBB at this point vs slightly over the high end. I am pre qualified up to 60k. Bank took vehicle and price and said no. Have to put cash down on it as they would not finance it at that price. Van was bumped from 12.5 to 16k. 12.5, bank said yes. I can't see the normal prices being so high the bank says no to financing.

Also figuring something else out. When you are pre qualified with cap one navigator, the dealers do not like it. Their attitudes completely change when they realize you are set and they can't pad you. This last one was saying he would put me in 350-400 a month payments. I am sitting at 200 a month and less per cap one on it. The games they play....
Message 8 of 10
WhatTickaWhat
Established Contributor

Re: Why are dealers raising prices?

all about the money, 

 

and with tax refund time, prime time to move cars!

For some buyers it is the only time they can manage a down payment, and squeeze out over their budget 

or over what the bank is willing to lend.

 

The dealer will take cash for the bump they just did.

And they will also bump the apr up a few notches too.

 

If you can wait it out, that is good, other than that you have to search hard or private sale 



[Penfed Platinum Rewards 10k][TD Ameritrade-2k][BOA Cash Rewards 22k][NFCU cashRewards 33k][TDcash 5k][IHG 14.2k][BOA 15.8k][Amazon Prime Store 10k][Amazon PrimeVS 500][Amex BCE 6k][WellsFargo CashWise 14k][PNC Core 24.5k][WalmartMC 11k][SearsMC 15k][Lowes 35k][Toyota 21k][Capital One 5250][BP 10k][Home Depot 24.2k][Chase FU 6.6k][Discover 22.5k]
- [BOA CR $12.5k][Amex SC+ $13.5k][Amex B4B $35k][Chase Ink $45k][PNC $26.5k]
BT'oholic and OPM Lover! Chunk'n it hard and often!
Message 9 of 10
ClassicMan
Valued Contributor

Re: Why are dealers raising prices?

Definitely at the end of the year is the best time to get cars, because some dealers are still trying to make their yearly quota's so they'll let some cars go for way less. But definitley try a private seller as well that way you can neogiate, no hidden fees, could get it for cheaper than you expected. 

12/18/19




05/27/20





Cards

Authorized User
Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.