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A new car!!! (1 Viewer)

If you want a true sedan, the Volvo S60 is one of the smoothest rides you will find and the leather interior was put together on seats designed by Chiropractors. Little tip on these from yours truly...45K New, 20K 3 years off lease, get one used, you'll save a fortune and once you drive one of these regularly you will wonder how you ever got along without one. It has about 250 horsepower on a 5 cylinder engine known as the T5. Mrs falls asleep every time we go for a ride. 
The T5 is a turbocharged 4 cylinder. 

 
 I think ALL sales will suffer mightily based on the unemployment numbers.

For there to be a feeding frenzy on used vehicles somebody has to be BUYING. The used lot dealers have just been holding onto inventory so without any money coming in will they really be restocking even more inventory from the auctions?

It wouldn't surprise me if a lot of people stop paying their car leases if they suddenly find themselves with no job, that will also add huge numbers to the used car market. When in doubt do you pay for food, shelter, or transportation? One of those things is a DISTANT third. I now my opinion is in the minority but I've felt like the entire car(new and used) industry was a house of cards even before the pandemic. 
I agree with you. The car industry had a very tough second half of last year and so much of new car purchases are stretched buying for much of America that the industry is in for a rude awekening. The blog Jalopnik has been all over these issues for last year. 

 
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 I think ALL sales will suffer mightily based on the unemployment numbers.

For there to be a feeding frenzy on used vehicles somebody has to be BUYING. The used lot dealers have just been holding onto inventory so without any money coming in will they really be restocking even more inventory from the auctions?

It wouldn't surprise me if a lot of people stop paying their car leases if they suddenly find themselves with no job, that will also add huge numbers to the used car market. When in doubt do you pay for food, shelter, or transportation? One of those things is a DISTANT third. I now my opinion is in the minority but I've felt like the entire car(new and used) industry was a house of cards even before the pandemic. 
Very interesting POV and I agree with a lot of what you are saying. For folks that like to pay cash for used cars it's going to be a feeding frenzy IMHO and by that I mean folks should be able to wheel and deal as they please. I wouldn't let a car salesman try and paint a picture like it's hard to find a good used car. 

But this will take time to unfold. I don't think people are even comfy going to a car lot yet and perhaps being in a show room where others are gathered. I'm sure car dealerships will mitigate and try to adopt social distancing but people will get tired of thee things and find the entire buying process a lot more stressful in general. 

 
Is there a good site to i can search all dealers for specific used car models rather than going to individual dealer's sites?

 
I ended up the this.  It was a 2019 with under 1800 miles on it for nearly $10K under original invoice.  The turbo version gives it really nice pep.  Very affordable vehicle loaded with all the latest tech and safety features.  

There are a lot of attractive offers on 2020 vehicles, like 7-year zero percent financing with no payments for the first four months.  

 
If you want a true sedan, the Volvo S60 is one of the smoothest rides you will find and the leather interior was put together on seats designed by Chiropractors. Little tip on these from yours truly...45K New, 20K 3 years off lease, get one used, you'll save a fortune and once you drive one of these regularly you will wonder how you ever got along without one. It has about 250 horsepower on a 5 cylinder engine known as the T5. Mrs falls asleep every time we go for a ride. 
I’ve been seriously looking at one of these (T6 inscriptions) or the V60’s T6’s.  Only thing holding me back, as they are fantastic cars, is the sketchy reliability.  But I think the interiors on these cars are the best in the business right now.  Just stunning.  

 
I have to wonder how bad this Pandemic will be on the car companies. Many of them have moved much of their capacity to huge, expensive vehicles over the last 10+ years due to a healthy economy and customers flush with cash. How many $40k+ F150s are going to fly off the shelf these days when the customer is worried they could get a pink slip any day now? Same goes for someone like Tesla where the cheapest model you can drive off the lot with is $35k+. Used cars and the sub-$25k range will be where I think most Americans will settle for the foreseeable future. 

Of course, I'm probably wrong.

 
I’ve been seriously looking at one of these (T6 inscriptions) or the V60’s T6’s.  Only thing holding me back, as they are fantastic cars, is the sketchy reliability.  But I think the interiors on these cars are the best in the business right now.  Just stunning.  
I had an XC90, which I recently returned off lease.  It was a good car and interior was awesome.  Handling was ok but acceleration was excellent (had the bigger engine).  The infotainment system kind of sucked though it looked fabulous. We also had a bunch of reliability issues as car had issues with air suspension and as well as a bunch of computer issues.  Something that shouldn't really happen with a new car and it spent a pretty decent amount of time at the dealer to have these things fixed.  Reliability is a real problem with Volvos.  That said all cars come with complimentary factory maintenance and all issues I had were fixed under warranty since did 3 year lease.  I would recommend leasing the car but don't think anyone should actually buy one of them as they would get expensive quick after free maintenance and warranty is up.  

 
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I’ve been seriously looking at one of these (T6 inscriptions) or the V60’s T6’s.  Only thing holding me back, as they are fantastic cars, is the sketchy reliability.  But I think the interiors on these cars are the best in the business right now.  Just stunning.  
What are the reliability issues?  I thought Volvos are a step down from Japanese cars in that you can easily put 200k+ on them without major issues.  I could be way wrong though.

 
I bought a 2018 Audi SQ5 the other day. Got what Cargurus called a good deal, then negotiated a couple additional years of warranty extension, which the dealer mostly covered.

So I have a two year old car with 14,000 miles that is warrantied for another 3 1/2 years.

I am pretty pleased.

 
I bought a 2018 Audi SQ5 the other day. Got what Cargurus called a good deal, then negotiated a couple additional years of warranty extension, which the dealer mostly covered.

So I have a two year old car with 14,000 miles that is warrantied for another 3 1/2 years.

I am pretty pleased.
Nice, that thing is going to be quick!

 
Nice, that thing is going to be quick!
It is. Definitely feels like a performance car, despite being a small SUV. I was also looking at an AMG GLC 43, which is even sportier, but I chose the Audi because it had a more up to date interior, better ride (adjustable), and more cargo space.

 
I definitely felt like the dealers I talked to didn't have a great handle on used car pricing. There simply aren't many "comps" out there right now, since the market volume has dried up. They were also clinging to the idea that they were going to be able to make money on the mark up in their used car inventory. Soon, they will be more focused on liquidating it for cash, I suspect.

There is no question that demand is going to take a major hit from the economic downturn, not to mention that the slightly used category is going to be pressured by the manufacturers being more aggressive with financing terms and lease deals on new inventory.

I am sure it would have been more advantageous for me to wait, but on the plus side I got what I felt like was a good price on my trade-in and I was looking at having to replace an air shock in the near term and get the car re-licensed. 

 
What are the reliability issues?  I thought Volvos are a step down from Japanese cars in that you can easily put 200k+ on them without major issues.  I could be way wrong though.


They have a bunch.  Consumer reports rank them as 24th out of 30 car manufacturers.  
Lots of electronic issues. Mechanically they’re pretty solid, which is surprising because the top tier engine is both turbocharged and supercharged which is pretty complex.  

 
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I’ve been seriously looking at one of these (T6 inscriptions) or the V60’s T6’s.  Only thing holding me back, as they are fantastic cars, is the sketchy reliability.  But I think the interiors on these cars are the best in the business right now.  Just stunning.  
Talk to me about reliability. 

I bought mine 3 yrs old, 35k miles. I have owned it for at least 3 years now and just went past 75k miles. Other than tires and brakes, very little I have had to do and the comfortability of the car has sold me. I'm looking at the SUVs and also would like the next step up from the 60, maybe that's called the S90 maybe? Like to like about Volvo, would probably not buy one new. Most cars I feel that way about. 

 
I had an XC90, which I recently returned off lease.  It was a good car and interior was awesome.  Handling was ok but acceleration was excellent (had the bigger engine).  The infotainment system kind of sucked though it looked fabulous. We also had a bunch of reliability issues as car had issues with air suspension and as well as a bunch of computer issues.  Something that shouldn't really happen with a new car and it spent a pretty decent amount of time at the dealer to have these things fixed.  Reliability is a real problem with Volvos.  That said all cars come with complimentary factory maintenance and all issues I had were fixed under warranty since did 3 year lease.  I would recommend leasing the car but don't think anyone should actually buy one of them as they would get expensive quick after free maintenance and warranty is up.  
Thanks for the first hand feedback  This is exactly what’s been holding me back.  I don’t lease so that’s a bit of a problem.  

 
Talk to me about reliability. 

I bought mine 3 yrs old, 35k miles. I have owned it for at least 3 years now and just went past 75k miles. Other than tires and brakes, very little I have had to do and the comfortability of the car has sold me. I'm looking at the SUVs and also would like the next step up from the 60, maybe that's called the S90 maybe? Like to like about Volvo, would probably not buy one new. Most cars I feel that way about. 
Yeah that’s the issue with Volvo electronics is it seems to be either one of the other. You either get a rock solid car that has no issues or you get a car that you’re chasing down gremlins all the time.  And while this can be said about any manufacture to a certain degree, it seems to be in a much higher occurrence with the Volvos unfortunately.  

 
Talk to me about reliability. 

I bought mine 3 yrs old, 35k miles. I have owned it for at least 3 years now and just went past 75k miles. Other than tires and brakes, very little I have had to do and the comfortability of the car has sold me. I'm looking at the SUVs and also would like the next step up from the 60, maybe that's called the S90 maybe? Like to like about Volvo, would probably not buy one new. Most cars I feel that way about. 
The cool thing about the XC90, S90 and V90 is they are all made on the same platform so they all feel very similar.  The XC90 inscription is the best looking SUV in the market imo.  

 
dkp993 said:
The cool thing about the XC90, S90 and V90 is they are all made on the same platform so they all feel very similar.  The XC90 inscription is the best looking SUV in the market imo.  
The XC90 is gorgeous on the outside. I don't think the interior is quite up to the standards of a few other manufacturers though.

 
In particular I love the part where it says that wholesale pricing has fallen ~11%, used car pricing has only fallen 1%, and sales for used cars has fallen 63%. 

What's the conclusion by the author of this article? "If you have the cash and it makes sense for you, now is probably a good time to be buying used because of the uncertainty but as ever no one seems to know anything about where things are headed." WTF? 

It's like watching the movie "the Big Short" all over again. Just wait until the majority of 2021 new cars roll off the assembly line in a few months and consumers are still trying to dig out of the debt created by this economic calamity. 

 
In particular I love the part where it says that wholesale pricing has fallen ~11%, used car pricing has only fallen 1%, and sales for used cars has fallen 63%. 

What's the conclusion by the author of this article? "If you have the cash and it makes sense for you, now is probably a good time to be buying used because of the uncertainty but as ever no one seems to know anything about where things are headed." WTF? 

It's like watching the movie "the Big Short" all over again. Just wait until the majority of 2021 new cars roll off the assembly line in a few months and consumers are still trying to dig out of the debt created by this economic calamity. 
Yeah, I was planning to buy a car in June as I need a second car for the summer (we can get by with one car in other seasons since we live in NYC).  I am watching the car market closely as dealers/manufacturers will get desperate soon.     

 
In particular I love the part where it says that wholesale pricing has fallen ~11%, used car pricing has only fallen 1%, and sales for used cars has fallen 63%. 

What's the conclusion by the author of this article? "If you have the cash and it makes sense for you, now is probably a good time to be buying used because of the uncertainty but as ever no one seems to know anything about where things are headed." WTF? 

It's like watching the movie "the Big Short" all over again. Just wait until the majority of 2021 new cars roll off the assembly line in a few months and consumers are still trying to dig out of the debt created by this economic calamity. 
Yeah, I was planning to buy a car in June as I need a second car for the summer (we can get by with one car in other seasons since we live in NYC).  I am watching the car market closely as dealers/manufacturers will get desperate soon.   
Please keep the info/updates coming.  There are a few car buying threads on this board - it'd be nice to keep new info all in one thread.  My wife's Rav4 is coming off lease at the end of May and we're definitely going to buy - either new or slightly used.  I'm happy to exploit any advantages the current crises provides us. 

tia

 
I'm looking to pick up a used car. It will most likely be a Honda (Maybe Toyota or Scion) since I am familiar with them and find them easy to work on.

I'm just not sure what to do if I buy one since I can't register with the BMV closed and I would have no place to store it.

 
I plan on trading in the Lexus IS350 for a Genesis G70 

Might be a tad above your target price but you might want to at least take a look.

 
BoltBacker said:
It's like watching the movie "the Big Short" all over again. Just wait until the majority of 2021 new cars roll off the assembly line in a few months and consumers are still trying to dig out of the debt created by this economic calamity. 
Serious question: are any vehicle manufacturers actually running their assembly lines right now? I'd assume there won't be many buyers of new vehicles in the current economy, but can't imagine there are many vehicles being manufactured (I think US is basically dead at the moment) either. Might not be the huge oversupply we might otherwise have in a down economy. 

ETA: first link I found via google

Global vehicle production was supposed to hit 89 million units in 2020. The corona crisis and the recession that is likely to follow could shave off 20%, leading to a total of just 71 million. 

That steep decline, far greater than anticipated earlier this year, likely will cost global automakers 19 million units in lost production in 2020, according to LMC Automotive, an auto industry analyst.

  • In North America, production remains shuttered at least through April. OEMs have had to delay the launch of the Tesla Model Y and the Ford Mustang Mach E, among many other models.
  • China, on the other hand, has already restarted most of its automotive production. The country expects to limit the decline in new-vehicle sales for 2020 to 12%.
  • Vehicle sales in both Europe and North America are predicted to bottom out in April, but LMC predicts a slower recovery than in China.
  • Other regions are also likely to be affected deeply by the pandemic and the ensuing recession.

 
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Redwes25 said:
I had an XC90, which I recently returned off lease.  It was a good car and interior was awesome.  Handling was ok but acceleration was excellent (had the bigger engine).  The infotainment system kind of sucked though it looked fabulous. We also had a bunch of reliability issues as car had issues with air suspension and as well as a bunch of computer issues.  Something that shouldn't really happen with a new car and it spent a pretty decent amount of time at the dealer to have these things fixed.  Reliability is a real problem with Volvos.  That said all cars come with complimentary factory maintenance and all issues I had were fixed under warranty since did 3 year lease.  I would recommend leasing the car but don't think anyone should actually buy one of them as they would get expensive quick after free maintenance and warranty is up.  
Owned a 2012 XC90 and had same experience, traded it back in right about 3 years.

 
My lease ran out on a 2018 Equinox last week, I still have the car.  I can extend the lease up to 6 months.  I would like to lease another Equinox.  Anyone who works at a dealership, when is the best time to turn it in?  I am 3K under on miles now.  

 
Serious question: are any vehicle manufacturers actually running their assembly lines right now? I'd assume there won't be many buyers of new vehicles in the current economy, but can't imagine there are many vehicles being manufactured (I think US is basically dead at the moment) either. Might not be the huge oversupply we might otherwise have in a down economy. 

ETA: first link I found via google
I think manufacturing has certainly been curtailed at the end of the 2020 product lines but I guess I would assume the 2021 product line already has a bunch of sunk costs to prepare for new models rolling out in just a few months. I don't think they are just going to skip producing 2021 models because of the economy even if they do slow-roll the launch.

But I also think this is more than just a "down economy". I mean if you look at this chart....

https://www.npr.org/sections/coronavirus-live-updates/2020/04/16/835135924/10-years-of-spectacular-u-s-job-growth-nearly-wiped-out-in-4-weeks

.... it shows a spike of 22 MILLION jobless claims in the past MONTH. Keep in mind most states have been completely overwhelmed with unemployment claims and this is probably a depressed number of claims that are actually going to be filed eventually. I think most new car sales are generally financed. Can people get financed for a car loan if they are either unemployed or they have only recently gotten a new job? I have to think the number of jobless claims in the following 4 weeks isn't going to help. Even if manufacturers cut financing to 0% if 12-19% of the consumers have recently lost their job can they even be eligible for that type of financing? The financing problem is just as big a problem as the glut of cars on the market. I guess we will see.

Not trying to sound like the sky is falling here I just don't understand how numbers add up. This is much worse than just a down economy. This will be a boon to auto mechanic shops as people will go to great lengths to keep the car they have longer than normal I would guess. Maybe that also help businesses that deal in the parts supply chain.

 
Serious question: are any vehicle manufacturers actually running their assembly lines right now? I'd assume there won't be many buyers of new vehicles in the current economy, but can't imagine there are many vehicles being manufactured (I think US is basically dead at the moment) either. Might not be the huge oversupply we might otherwise have in a down economy. 

ETA: first link I found via google
Western manufacturers are closed (USA/Europe) though I have seen some articles about them opening up (Volkswagen looks very eager https://www.wsj.com/articles/volkswagen-reopens-europe-plants-offering-a-vision-of-the-post-virus-car-factory-11587140348).  Some Asian manufactures are open and running though they have been hit hard by demand slowing due to lockdowns in other markets - https://www.nytimes.com/reuters/2020/04/21/business/21reuters-health-coronavirus-hyundai-motor-focus.html  

 
I had a 2012 Acura TSX and loved it. My son’s car finally died a few months ago and it was time for me too look. I found a 2017.5 Nissan Maxima Platinum with 14,000 miles. Great looking car with 300 hp. Absolutely love it and my son is happy I gave him my Acura. Now he’s on his own going forward with help from me regarding a car. Each kid got a car from me. 

 
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I had a 2012 Acura TSX and loved it. My son’s car finally died a few months ago and it was time for me too look. I found a 2017.5 Nissan Maxima Platinum with 14,000 miles. Great looking car with 300 hp. Absolutely love it and my son is happy I gave him my Acura. Now he’s on his own going forward with help from me regarding a car. Each kid got a car from me. 
Acura makes great cars.  Like the RLX’s.  I’m gonna replace my Audi A6 this year and have been looking at them.  

 
Acura makes great cars.  Like the RLX’s.  I’m gonna replace my Audi A6 this year and have been looking at them.  
I got my 2012 TSX with 22,000 miles in 2015. It has 87,000 miles on it now and the only maintenance I spent was routine maintenance. No other issues. I looked at getting another one but read good things about the Maxima and got a great deal. 

 
I got my 2012 TSX with 22,000 miles in 2015. It has 87,000 miles on it now and the only maintenance I spent was routine maintenance. No other issues. I looked at getting another one but read good things about the Maxima and got a great deal. 
Yeah with Acura’s being a Honda product it’s hard to go wrong.  At 87k your son can easily drive it another 120k and not break a sweat.  

 
My lease is up June 1 and I planned on turning my truck in and buying something used. I got a letter from my bank yesterday offering to extend my lease for 6 additional months. I may just do that since I like my truck and my payment is low. 

 
I have a 6 year old Durango that has been great until recently. Jut get the feeling I am flirting with danger.

Combine that with some of these deals.... 0% for 84 months and waive first 3 months or more makes them hard to pass up. This has to be the best time to buy right? 

 
Redwes25 said:
I had an XC90, which I recently returned off lease.  It was a good car and interior was awesome.  Handling was ok but acceleration was excellent (had the bigger engine).  The infotainment system kind of sucked though it looked fabulous. We also had a bunch of reliability issues as car had issues with air suspension and as well as a bunch of computer issues.  Something that shouldn't really happen with a new car and it spent a pretty decent amount of time at the dealer to have these things fixed.  Reliability is a real problem with Volvos.  That said all cars come with complimentary factory maintenance and all issues I had were fixed under warranty since did 3 year lease.  I would recommend leasing the car but don't think anyone should actually buy one of them as they would get expensive quick after free maintenance and warranty is up.  
I buy them used after you turn them in at 3 yrs and iron out all the bugs from the new purchase. 

I bought my S60 3 yrs old, 35k miles, got it under $18k on a dealer lot, I could sell it right now for maybe around $10k, I've had it 3 years. 

36 months of driving for less than $10k, gotta be around $300 a month and I'm driving a luxury automobile with some of the best leather and seats you can put in a car under $80k-$100k in my opinion, that's a pretty good deal. 

I didn't know about Volvo's reliability history, i just liked them for safety, decent pick up or speed in the engine and then of course comfortability. 

I also don't lease vehicles and don't want to debate about it, I respect the folks who do it whichever way is most comfortable for them. Wife has a Subaru Forrester XT 2.0, very safe vehicle. I probably value safety almost as much as anything in the cars I drive. 

Started off in my 20s driving Honda Accords and it was hard to get me away from them for reliability reasons but once I got into a Volvo it was like a dream to drive it.

I do appreciate your info because I was looking at the XC90, want to do some serious road driving across the country when this all returns to "normal" and I want something that will be super comfy and very safe.

Subaru has 0% for 63 MONTHS!!! I was able to get 0% on the Forrester when we bought it but that was 48 months, the deal runs thru April 30th and it is ALL MODELS from what I saw in the ads. I'm all for not financing cars and paying more in interest but when they will give you FREE financing for 63 months, take it!

 
My lease is up June 1 and I planned on turning my truck in and buying something used. I got a letter from my bank yesterday offering to extend my lease for 6 additional months. I may just do that since I like my truck and my payment is low. 
Gift, take it

In 6 months the car lots might be giving money to people in addition to taking a car off their hands, I think those 6 months will pay off for you. 

 
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My lease is up June 1 and I planned on turning my truck in and buying something used. I got a letter from my bank yesterday offering to extend my lease for 6 additional months. I may just do that since I like my truck and my payment is low. 
What do they do about the mile limitation?  

 
Combine that with some of these deals.... 0% for 84 months and waive first 3 months or more makes them hard to pass up. This has to be the best time to buy right? 
Can we get a list of which companies are offering this? I assume you’re giving up available purchase price incentives if you use a zero percent financing incentive, right? 
 

We looked at a Honda for my wife last weekend and they aren’t doing anything special right now - just normal stuff like loyalty bonus, military, small incentives, or 1.9% financing. 

 
Can we get a list of which companies are offering this? I assume you’re giving up available purchase price incentives if you use a zero percent financing incentive, right? 
 

We looked at a Honda for my wife last weekend and they aren’t doing anything special right now - just normal stuff like loyalty bonus, military, small incentives, or 1.9% financing. 
I personally think it will get better.  Dealers have a lot of inventory but at least they aren't getting more supply from manufacturers since they are mostly closed.  Once the manufacturers start up again in a couple of weeks they are going to need to move inventory and imagine manufacturers give a ton of dealer support.  

This is of course just an educated guess.  

 
Can we get a list of which companies are offering this? I assume you’re giving up available purchase price incentives if you use a zero percent financing incentive, right? 
 

We looked at a Honda for my wife last weekend and they aren’t doing anything special right now - just normal stuff like loyalty bonus, military, small incentives, or 1.9% financing. 
Well I am in the Motor City so maybe it's more local??

GM / Buick has 0% for 84 months and 3 months deferred payments. Believe Jeep is the same.

Ford looks to be 0% for 72 months, they make 3 payments and 3 additional payments deferred. 

 
Can we get a list of which companies are offering this? I assume you’re giving up available purchase price incentives if you use a zero percent financing incentive, right? 
 

We looked at a Honda for my wife last weekend and they aren’t doing anything special right now - just normal stuff like loyalty bonus, military, small incentives, or 1.9% financing. 
And, to be honest, haven't really researched it too hard yet. But it is tempting.

 

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