"Prius" , was not commenting on Toyota.You do realize that Toyota was founded in 1937…4 year before Jeep? Not that I agree with the argument of Jeep’s being valueless in the future, but Toyota does in fact have a pretty good 80+ year track record in the business.
Ok, I'll bite. Why THREE years? Also, was it your first jeep? And why would you be irked it came early?I chuckled as I read about people waiting four or five months to get their Jeep. I waited three years from the time I decided I was buying a Jeep until I ordered it. Then I was a little bit irked that it came in so fast. I was expecting it to be 8 to 10 weeks out before I received it and it came in 5 weeks.
Profiteering is usually associated with "illegal" ways of making money or getting over on someone. The dealer owns the vehicle and can sell at any price they want to.....just like you and me. Nothing illegal by being a greedy bastard.So, two things.
1. The $9995.00 adjustment is over 10% of value. Isn’t that “profiteering”?
2. While at the dealer I overheard a snippet of a financing conversation. He was talking to a young couple, like early 20’s.
“That would be the payment on 96 month financing.”
Buying a car probably isn't looked at as a "natural disaster" and seldom does anyone need a new overly priced vehicle to stay alive.In my view, price gouging is generally limited to a necessity - like inflated gas/food/generator prices during a natural disaster. On a nice-to-have product like a Jeep, it's capitalism. I thought that we had decided, as a nation, that we liked capitalism. Or do we only embrace the concept when it's in our favor?
I had Jeeps before. Was Jeepless at the time. I knew the JL was coming. I saw a video called the JK Experience Alaska and told the wife that we would be Jeeping in Alaska in retirement. I was three years out from retirement. I ordered the Jeep 2 weeks after I retired. I wanted the Jeep to come in after the first of the year as I had a month of traveling planned and did not want the Jeep to just sit on the dealer lot. The Jeep came in before the first of the year but before I left for some extended travel. So it all worked out okay in the end. I used the three years to stack money aside for the downpayment.Ok, I'll bite. Why THREE years? Also, was it your first jeep? And why would you be irked it came early?
My experience when I got mine 2 weeks ago was that dealer was installing Mopar lifts on their inventory, and was trying to charge double the regular customary charge. I still think I overpaid for my 2” Mopar lift kit, but it’s a lot better than the $10k that dealer wanted.Took my JLR to the dealer for its first free oil change and walked around the lot while waiting. They have quite a few new JL's and JT's on the lot, which surprised me...until I started looking at the stickers. ALL of them had this $10k-ish markup over MSRP. No wonder they have so many unsold. If the market drop that some financial guessers are predicting happens, I'll bet they'll wind up regretting their decision.
I agree though I corrected the stimulus below. Another factor is the trade in value. I know a few people that between the family stimulus and high trade in value bought new cars.I agree, but there is likely some program benefit, even if minor. The average household income of a JLU buyer is ~ $122k per year. Stimulus checks went to families with household incomes of up to $146.4k. There is certainly some overlap in that Venn diagram.
For those who did not qualify for stimulus checks, the wealth effect tailwinds of raging stock and housing markets, paired with bigger year end bonuses from better-than-expected 2020 results, certainly underwrote some JLU purchases. I can speak with certainty regarding that.
And anecdotally, I heard of a neighbor who owns her own small business who took two rounds of paycheck protection funds and remodeled her personal house. This likely happened across the country, and underwrote car/boat/vacation/second house purchases of massive proportions. This will not likely happen again.
Finally, its not just the expiration of short-term stimulus and unemployment benefits that may soften the economy, consumer demand, or the availability of credit. The Federal Reserve likely begins "tapering" talk this fall, and they have ~ $4 trillion of excess liquidity they need to withdraw from the US economy. I'm not making a forecast, but I do work with money professionally and I worry that it **could** get ugly in a next few years should a negative wealth effect cool enthusiasm for higher ticket purchases. Time will tell.
Prior to the pandemic there were really fast delivery times. Just as easy as ordering a pizza and almost as fast. I placed my order via email and called in a $100 credit card deposit. Less than 2 weeks later I was driving it. My '19 JLR only took 11 days from order to delivery. This was back in March of 2019.I chuckled as I read about people waiting four or five months to get their Jeep. I waited three years from the time I decided I was buying a Jeep until I ordered it. Then I was a little bit irked that it came in so fast. I was expecting it to be 8 to 10 weeks out before I received it and it came in 5 weeks.