Super bummed
Race Director
Joined: Oct 2005
Posts: 14,555
Likes: 1,255
From: Saint Albans, WV
Lightstream has very low rates.. I used them for my boat and it was very reasonable, cheaper than most. Others actually. They just don't lend to people with less than awesome credit.
1300 is nothing. Looking at a new Tahoe and they have 28 THOUSAND in add on fees.. 14k in markup, and 14k in "dealer added upgrades", which are some wheels and tires and probably a ceramic coating done quickly and cheaply. I wouldn't worry about 1300 or 3k in today's environment. Especially if it's the car for you. 1300 isn't that much to avoid the regret of not getting the car you want.
1300 is nothing. Looking at a new Tahoe and they have 28 THOUSAND in add on fees.. 14k in markup, and 14k in "dealer added upgrades", which are some wheels and tires and probably a ceramic coating done quickly and cheaply. I wouldn't worry about 1300 or 3k in today's environment. Especially if it's the car for you. 1300 isn't that much to avoid the regret of not getting the car you want.
Race Director
Joined: Oct 2012
Posts: 17,388
Likes: 6,531
From: Melbourne, FL
TBH, I can't blame them. When you're getting 2 to 4 cars a month at a bigger dealership... You gotta keep the doors open somehow. Our dealer hasn't had any tahoes in over a month. They're getting in 2 suburban in July, they are going to auction off to people willing to buy sight unseen over MSRP.
For us, the Tahoe isn't a pressing need, we aren't missing out on anything in life by not having it. We don't even have the baby yet, haha. That's very different from missing out on a summer of corvette life.
Race Director
Joined: Jul 2005
Posts: 12,045
Likes: 3,588
From: Central MO
Lightstream has very low rates.. I used them for my boat and it was very reasonable, cheaper than most. Others actually. They just don't lend to people with less than awesome credit.
1300 is nothing. Looking at a new Tahoe and they have 28 THOUSAND in add on fees.. 14k in markup, and 14k in "dealer added upgrades", which are some wheels and tires and probably a ceramic coating done quickly and cheaply. I wouldn't worry about 1300 or 3k in today's environment. Especially if it's the car for you. 1300 isn't that much to avoid the regret of not getting the car you want.
1300 is nothing. Looking at a new Tahoe and they have 28 THOUSAND in add on fees.. 14k in markup, and 14k in "dealer added upgrades", which are some wheels and tires and probably a ceramic coating done quickly and cheaply. I wouldn't worry about 1300 or 3k in today's environment. Especially if it's the car for you. 1300 isn't that much to avoid the regret of not getting the car you want.
Race Director
Joined: Oct 2005
Posts: 14,555
Likes: 1,255
From: Saint Albans, WV
The new ones seem fair compared to used ones. Saw a used one with 214 miles for 85k. Its nuts. We are holding off until the chip shortage cars hit the lots and the discounts return.
TBH, I can't blame them. When you're getting 2 to 4 cars a month at a bigger dealership... You gotta keep the doors open somehow. Our dealer hasn't had any tahoes in over a month. They're getting in 2 suburban in July, they are going to auction off to people willing to buy sight unseen over MSRP.
For us, the Tahoe isn't a pressing need, we aren't missing out on anything in life by not having it. We don't even have the baby yet, haha. That's very different from missing out on a summer of corvette life.
TBH, I can't blame them. When you're getting 2 to 4 cars a month at a bigger dealership... You gotta keep the doors open somehow. Our dealer hasn't had any tahoes in over a month. They're getting in 2 suburban in July, they are going to auction off to people willing to buy sight unseen over MSRP.
For us, the Tahoe isn't a pressing need, we aren't missing out on anything in life by not having it. We don't even have the baby yet, haha. That's very different from missing out on a summer of corvette life.
Melting Slicks
Joined: Feb 2010
Posts: 3,330
Likes: 903
From: Kentucky
My parents are Tahoe/Suburban shopping and have decided to wait for this reason. Big discount are inevitable again sometime. Used previous gen Tahoe/Yukon are already started to dip back down in price so it's just a matter of time.
Race Director
Joined: Oct 2012
Posts: 17,388
Likes: 6,531
From: Melbourne, FL
We will be going with the diesel. It is pretty sad that GM managed to screw up what used to be the most reliable engine on the planet though, lol.
Race Director
Joined: Dec 2013
Posts: 12,502
Likes: 3,631
On a C8 and maybe on a C7 (depending if it still able to get a extended warranty on it or not) could see financing such if push came to shove, but with a C6, no warranty and the cost of upkeep itself, can't see financing such to start with.
But yes, even the banks know that the inflated prices on cars is way over the top right now, and if they are going to finance such and sitting on the loan that will be way upside down once the prices do go back to normal, just not a wise decision to be made.
But yes, even the banks know that the inflated prices on cars is way over the top right now, and if they are going to finance such and sitting on the loan that will be way upside down once the prices do go back to normal, just not a wise decision to be made.
Race Director
Joined: Oct 2012
Posts: 17,388
Likes: 6,531
From: Melbourne, FL
The extra money can be replaced. The time and experience can't be.
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Race Director
Joined: Dec 2010
Posts: 18,098
Likes: 1,597
https://www.bloomberg.com/news/artic...?sref=cv51C53O
According to this article, auction prices are falling.
OP, I'm in the same boat as you, was planning on getting into a C7 this year.
Looks like that's not going to happen. I believe once GM gets the C8 production on schedule, used Vette prices will start to fall and return to normal. I'll look next year, not going to pay some inflated pricing for a toy.
According to this article, auction prices are falling.
OP, I'm in the same boat as you, was planning on getting into a C7 this year.
Looks like that's not going to happen. I believe once GM gets the C8 production on schedule, used Vette prices will start to fall and return to normal. I'll look next year, not going to pay some inflated pricing for a toy.
Race Director
Joined: Jul 2005
Posts: 12,045
Likes: 3,588
From: Central MO
Thread Starter
Racer
Joined: Jul 2008
Posts: 489
Likes: 137
From: Las Cruces, NM
Appreciate the thoughts and suggestions. I got approved through Lightstream that was recommended with a very reasonable rate/term. I applied for only the amount i was willing to pay. I called the dealership up once more to put the ball in his court. Since i had the money in my possession, he relaxed a bit more on his price. After dodging his calls/texts the night before, he knew that i was serious about walking away w/out the deal i wanted. In the end, i got the car i wanted for the price i wanted to pay. I'll be out of pocket for TT&L and delivery but no more $3000 deposit as i factored that into the loan. In a stroke of luck, one of the delivery guys the dealership uses lives 40 miles away from me....so here's hoping that i'll get good deal on that!
Melting Slicks
Joined: Feb 2010
Posts: 3,330
Likes: 903
From: Kentucky
Appreciate the thoughts and suggestions. I got approved through Lightstream that was recommended with a very reasonable rate/term. I applied for only the amount i was willing to pay. I called the dealership up once more to put the ball in his court. Since i had the money in my possession, he relaxed a bit more on his price. After dodging his calls/texts the night before, he knew that i was serious about walking away w/out the deal i wanted. In the end, i got the car i wanted for the price i wanted to pay. I'll be out of pocket for TT&L and delivery but no more $3000 deposit as i factored that into the loan. In a stroke of luck, one of the delivery guys the dealership uses lives 40 miles away from me....so here's hoping that i'll get good deal on that!
Race Director
Joined: Oct 2005
Posts: 14,555
Likes: 1,255
From: Saint Albans, WV
Haven’t seen to many of the small diesels back in the shop recently but also the production numbers are way down. Not the same motor but my Denali HD diesel has been bulletproof. Went down to my moms house in Ocean isle a few months ago and my fuel range was 950. Mine is a tow vehicle and love it. Of course you won’t have to fool with cold weather warm up time which is a good thing
Instructor
Joined: Nov 2019
Posts: 166
Likes: 93
From: Near Reading PA
I think it's good you went for it. Prices aren't coming down anytime soon. They won't for Corvettes, food, houses, or anything else for that matter. They never have in my life. Thirty grand isn't what it used to be. I only paid $2500 for my Chevelle 20 years ago, and a brand new fully loaded Silverado only cost me $26,000 back then. Face it, what wealth you had shrunk by comparison. My house is valued at 2X what I paid for it, but relatively speaking, it's still worth the same, just takes a higher number to get it. When I was a kid, an average houee was $15-20K, and the average new car was what, $3500. People bitched then too because it was too much. You may as well get used to it.
Last edited by Zapp Brannigan; Jun 26, 2021 at 12:40 PM.
Race Director
Joined: Dec 2010
Posts: 18,098
Likes: 1,597
I think it's good you went for it. Prices aren't coming down anytime soon. They won't for Corvettes, food, houses, or anything else for that matter. They never have in my life. Thirty grand isn't what it used to be. I only paid $2500 for my Chevelle 20 years ago, and a brand new fully loaded Silverado only cost me $26,000 back then. Face it, what wealth you had shrunk by comparison. My house is valued at 2X what I paid for it, but relatively speaking, it's still worth the same, just takes a higher number to get it. When I was a kid, an average houee was $15-20K, and the average new car was what, $3500. People bitched then too because it was too much. You may as well get used to it.
Name a time when prices on 10 year old vehicles appreciated, this market is not normal.
Burning Brakes
Joined: Jan 2018
Posts: 973
Likes: 268
From: Oro Valley Arizona
I've been looking forward to getting back in a C6 after owning a C6, C7 and recently backing out of my place in line for the C8. I miss the C6 and have been looking aggressively for a few weeks. I've found a couple that scream "this is the one i want." But in both cases the bank comes back with NADA value that values the car exceptionally lower than KBB. If i'm not willing to put $5000-$10,000 down (and i'm not) then i'm going to have to wait until the market evens out, and no telling when that'll be. Today i offered $3000 down which left us $1300 apart between what the bank was willing to loan and his asking price. He didn't budge. He knows he will get full asking price in a day or 3.
Race Director
Joined: Oct 2012
Posts: 17,388
Likes: 6,531
From: Melbourne, FL
https://www.bloomberg.com/news/artic...?sref=cv51C53O
According to this article, auction prices are falling.
OP, I'm in the same boat as you, was planning on getting into a C7 this year.
Looks like that's not going to happen. I believe once GM gets the C8 production on schedule, used Vette prices will start to fall and return to normal. I'll look next year, not going to pay some inflated pricing for a toy.
According to this article, auction prices are falling.
OP, I'm in the same boat as you, was planning on getting into a C7 this year.
Looks like that's not going to happen. I believe once GM gets the C8 production on schedule, used Vette prices will start to fall and return to normal. I'll look next year, not going to pay some inflated pricing for a toy.
Race Director
Joined: Oct 2012
Posts: 17,388
Likes: 6,531
From: Melbourne, FL
2008 was a totally different situation. The main issue facing us now is inflation, in 2008 we had an economic collapse. The fed warded that off this time by printing money like crazy. They traded economic downturn for massive inflation.
Race Director
Joined: Dec 2010
Posts: 18,098
Likes: 1,597
It's no different than the past.