My wife and I decided to cancel our order.

[PaulD]

Given where the economy is likely going, we both decided that it's better to hold on to our money. We'll reconsider this in 6 months or so and, I suspect, likely be able to get a better deal. Her current car was going to be handed down to our daughter and it's mechanically sound (2008 Highlander with 160K on it). At this point, we're not even driving anywhere anyway.

Oh well. Hopefully the 2021 model year brings more option flexibility.

 

[MarcinTexas]

Given where the economy is likely going, we both decided that it's better to hold on to our money. We'll reconsider this in 6 months or so and, I suspect, likely be able to get a better deal. Her current car was going to be handed down to our daughter and it's mechanically sound (2008 Highlander with 160K on it). At this point, we're not even driving anywhere anyway.

Oh well. Hopefully the 2021 model year brings more option flexibility.

It will depend on what type of job people have. If you work for a company that allows working from home and in an industry that won't be impacted...then stick with your order. If your industry could be impacted by this mess...then your course of action might be wise. Interestingly...for the first time - an SX AWD model is discounted by $1K below MSRP on their cars.com listing. First time I have seen that in my saved search in six months of watching this model/trim.

Things are definitely changing in the market.

 

[NCBill]

If I was asked to predict, I would expect a two to three month collapse, followed by an almost immediate return to normal. However, everyone should have a nice reserve fund in hand, regardless of economic conditions. A Highlander with 180K miles on it is barely broken in, should last a long, long time.

Spending precious family funds on a discretionary item that immediately depreciates is not a good idea. Now if you have plenty in reserve, sure, buy, buy, buy.

 

[PaulD]

It will depend on what type of job people have. If you work for a company that allows working from home and in an industry that won't be impacted...then stick with your order. If your industry could be impacted by this mess...then your course of action might be wise. Interestingly...for the first time - an SX AWD model is discounted by $1K below MSRP on their cars.com listing. First time I have seen that in my saved search in six months of watching this model/trim.

Things are definitely changing in the market.

The cars.com reference just confirmed this was a good move. Thanks.

My wife and I are both WFH for the foreseeable future and have no indication either of our jobs are in danger. If we were in desperate need of a new car, we'd buy one now.

@NCBill I agree with your prediction. We're fine financially and would be even if we did buy the car now, but it's still $50K all in (with taxes, etc) and I'd rather have that in the bank.

When we were shopping, at least two dealers wanted a $3K non refundable deposit. My reaction was "NFW" and I walked out. I'm very glad I did.

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[raydog9379]

My advice for anyone would be to just wait it out at this point if you can. Crazy to think a couple days ago things were going like crazy economy wise (in a good way). Now, they won't be able to give these away until things get back to normal. Even then, what is the normal? With most of the travel industry wiped out, as well as restaurants, etc.. some folks will have no choice but to sell their new Telluride for whatever they can get or back out of orders that are arriving shortly. Sad but true.

 

[Priapism]

This could get bad for folks who paid the high “market rate adjustment” prices for their Telluride if forced to sell due to job loss or other circumstances.

 

[critrider]

Dealer(s) Pre COVID-19 recession. We are marking these up because we can.

Buyers Post COVID-19 scare/recession. We are offering Invoice because we can.

 

[raydog9379]

Dealer(s) Pre COVID-19 recession. We are marking these up because we can.

Buyers Post COVID-19 scare/recession. We are offering Invoice because we can.

Yeah, seeing a bunch of dealers offering them all at MSRP now on the FB pages. They'll be lucky to get people to buy a car at all.

Though, I think production must be slowing way down. I see the VIN tool is only adding a handful a day now (unless it's broken?).

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[PaulD]

Yeah, seeing a bunch of dealers offering them all at MSRP now on the FB pages. They'll be lucky to get people to buy a car at all.

Though, I think production must be slowing way down. I see the VIN tool is only adding a handful a day now (unless it's broken?).

VW just shut down all production in Europe and FCA closed a bunch of plants.