During Thanksgiving I met up with my cousin who I’ve not seen for a quite some time. Turns out he recently traded in his long-serving 2006 Toyota Corolla for a brand-new Toyota Sienna. The move makes perfect sense: he’s got a young kid now, and loading-unloading the car seat is just that much more convenient in a van than a tiny sedan. Besides, the improvement in vehicle safety has been magnitudes over the decade plus. I too would want the best and safest for my baby nephew.
Being that we are still amidst the great supply chain shortage in terms of new cars, I naturally asked my cousin if he paid over MSRP for the Sienna. Turns out he paid about $3,000 in ADM, plus the color blue he bought was not really his first option. I guess you absolutely cannot be picky in this market, especially the sought-after Toyota hybrid products (gas is still super expensive, after all). You agree with the dealer on the price, and then you wait until it’s your turn to get the latest shipment off the boat. For a particular color the wait can be months.
With high inflation, high interest rates, and a seemingly looming recession (tech companies have announced significant layoffs in droves), the current feeling is that the new vehicle shortage vis a vis demand will come back down to earth sometime next year. I hope the prognosticators are correct because the timing would be perfect for me. As I’ve written before, I am looking to buy the latest Honda Civic Type R. The car has just been released to the public earlier this month, so I’m waiting out the initial rush of folks who are willing to fork over the $10,000 or so dealer markups.
I’m looking to make the move sometime in the spring of next year. The hope is that serendipitously the market conditions would become favorable enough that I can buy a Type R with minimum to zero markups. In the meantime I’ll be scouring the forums for all the information pertaining to the FL5.
Big wave, don’t avoid it.