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Jmm722

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I was talking to a friend who went into Porsche to see what they could do if we turned in his 911 lease a few months early. They offered him $25k cash to take the car back early because the used car market is so absurd over the residual left on the lease. The used car price is the same as the MSRP was 3 years ago.
 
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Dino944

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I was talking to a friend who went into Porsche to see what they could do if we turned in his 911 lease a few months early. They offered him $25k cash to take the car back early because the used car market is so absurd over the residual left on the lease. The used car price is the same as the MSRP was 3 years ago.
Yes, a neighbor just traded in his 2017 991S (for a 992S), which he bought CPO'd in 2019. They gave him a little more than he paid for it as a traded in value, and their asking price is currently about $27K more than they offered him. Pre-owned prices are crazy these days.
 

UnFacconable

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Welp, looks like I got burned by the 2021 car market. My Telly arrived today and the dealer informed me they were adding a "market adjustment" of $6k. I told them no and they immediately pivoted to returning my deposit. Given the market conditions, they don't appear concerned about the fact that they never mentioned a markup and said they definitely tell everyone about the markup. I was like "well putting it on the build sheet when you take a deposit is the right way to charge a markup on a special order" but they DGAF.

I'm just not going to pay a markup so the only question is whether it's worth getting worked up about or not.
 

Omega Male

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Imagine working at a Kia dealership your whole career and finally ending up with some pricing power? They are giving each other handys over there right now.
 

brokencycle

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Welp, looks like I got burned by the 2021 car market. My Telly arrived today and the dealer informed me they were adding a "market adjustment" of $6k. I told them no and they immediately pivoted to returning my deposit. Given the market conditions, they don't appear concerned about the fact that they never mentioned a markup and said they definitely tell everyone about the markup. I was like "well putting it on the build sheet when you take a deposit is the right way to charge a markup on a special order" but they DGAF.

I'm just not going to pay a markup so the only question is whether it's worth getting worked up about or not.
Did you tell them you were an attorney and that you golf with the AG?
 

BlairW

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Yes, a neighbor just traded in his 2017 991S (for a 992S), which he bought CPO'd in 2019. They gave him a little more than he paid for it as a traded in value, and their asking price is currently about $27K more than they offered him. Pre-owned prices are crazy these days.
We have this situation happening daily where I am. Dealers have been plating cars then asking 15-25% more than MRP. And getting it..
 

otc

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Welp, looks like I got burned by the 2021 car market. My Telly arrived today and the dealer informed me they were adding a "market adjustment" of $6k. I told them no and they immediately pivoted to returning my deposit. Given the market conditions, they don't appear concerned about the fact that they never mentioned a markup and said they definitely tell everyone about the markup. I was like "well putting it on the build sheet when you take a deposit is the right way to charge a markup on a special order" but they DGAF.

I'm just not going to pay a markup so the only question is whether it's worth getting worked up about or not.
At least get a little worked up enough to go scorched earth on whatever review sites and buyer surveys you can find.

Changing the price of a car after taking a deposit on the order is beyond shitty. Make it clear to any future customers who see your review: don't trust a word these guys say, they will take your deposit and then raise the price on you.
 

sugarbutch

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At least get a little worked up enough to go scorched earth on whatever review sites and buyer surveys you can find.

Changing the price of a car after taking a deposit on the order is beyond shitty. Make it clear to any future customers who see your review: don't trust a word these guys say, they will take your deposit and then raise the price on you.
Today on Water Is Wet...
 

jcman311

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:lurk:

I remember leasing my Highlander back in May (around Memorial day) and the sales girl saying "If you lock in now before the car arrives you'll get the $750 cash discount" that they were offering but the deal ends May 31. We had no idea when the car would arrive (It only took a little over a week) Well, just so happens that deal was basically all summer. However, I saw a commercial the other day and they lowered it to $500. Maybe Toyota is finally running out of cars as well.
 

Dino944

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Welp, looks like I got burned by the 2021 car market. My Telly arrived today and the dealer informed me they were adding a "market adjustment" of $6k. I told them no and they immediately pivoted to returning my deposit. Given the market conditions, they don't appear concerned about the fact that they never mentioned a markup and said they definitely tell everyone about the markup. I was like "well putting it on the build sheet when you take a deposit is the right way to charge a markup on a special order" but they DGAF.

I'm just not going to pay a markup so the only question is whether it's worth getting worked up about or not.
That's complete BS !!! Adding a $6K "Market adjustment" at the last minute is insane. Many years ago when my dad was ordering a Ferrari 348 (his would have been one of the first in the country) he was told on the paperwork there would be a 10K mark up over list price. Then months later the dealer, and maybe the company wanted dealers to get $15K over, then $20K or $25K over. The sales manager called my dad with each increased amount. When it reached $50K over MSRP, thankfully my told them to FO and return his deposit. The car ended up being a dud, getting lousy reviews, and depreciated to an insanely low amount, so thankfully he didn't buy that one. Also, my dad knew a guy who's paperwork either said $25 or 35K over MSPR. When the dealer tried to write in market value, over the original signed MSRP+$35K he sued the dealer and won.

Anyway, I'd contact Kia's customer service department and see what they think of this. Then if that isn't helpful, get your deposit back and consider writing a review of your experience.
 
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Jmm722

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Ford dealers are charging over MSRP on ordered Broncos right now. People custom ordered their build early this year and now are being told the have to pay $10-15k above the price they were quoted. They probably can do so because a deposit isn’t usually a contract, it’s an agreement to make an contract at a later date.
 

HRoi

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No surprise and this behavior has been around for decades as Dino just mentioned. It’s why I have trouble feeling sorry for dealers that go under during downturns (like just last year!).

they count on the fact that your cost of punitive action, or opportunity cost of finding a new deal, depending on how you look at it, isn’t worth the $6k. And they’re right. And they have thick skins because you can’t survive in the auto industry if you don’t.
 

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