[Penglobal]

While servicing my new Honda this past weekend (free warranty work) at the Honda dealership in Leesburg off US441, I looked around the dealership at the new Hondas. All the new cars on sale had an amended priced list which covered the usually high profit mark-up items such as wheel locks for $250 and floor mats for $400. I was amazed that every new car at this dealership also had a mark-up of $10,000 which was listed as a market adjustment charge and a new car salesman also informed me that their new vehicles were being sold at straight MSRP PLUS $10,000. Yes, they where charging an extra $10,000 more for the same vehicle that last year was sold for about 5% under MSRP. So a basic new Honda with a MSRP of about $26,000 was being sold for over $40,000, including all mark-ups, taxes and fees. My new Honda was purchased at another dealership in Orlando just seven months ago and it was purchased for under MSRP and without this $10,000 ripoff charge.

Why would anyone pay these exorbitant new car prices ???
Is this not price gauging???
Understanding that there is a new car shortage, but this dealership takes the cake for the biggest new car ripoff dealership anywhere in the area. I hope when things get back to normal, all us Villagers remember these companies that ripped us all off during this pandemic and not solicit their business in the future. Yes, the dealership starts with "J"!

[CoachKandSportsguy]

Originally Posted by Penglobal

Why would anyone pay these exorbitant new car prices ???

Evidently, no one since the car is still for sale!

Second, you are assuming someone is paying that price, and you yourself bought something much lower, so just assume the dealership is marketing to someone with lots of money or desperate. . .

finance guy

[Topspinmo]

I have ask how many new cars did they have on the lot? I guess it’s not many? Only pigeon would pay more than list price. It’s crazy right now even used car prices are way up.

[vintageogauge]

If you need a new car you'll pay whatever they want. With the limited inventory the dealerships have they'll get near what they are asking. The good thing is your old car is worth a lot more. This is a good time to go to a classic car auction and buy something that has been completely restored, they are fun to drive and will hold their value.

[Penglobal]

Originally Posted by CoachKandSportsguy

Evidently, no one since the car is still for sale!

Second, you are assuming someone is paying that price, and you yourself bought something much lower, so just assume the dealership is marketing to someone with lots of money or desperate. . .

finance guy

If this particular dealership is adding an extra $10,000 per new car as an added dealer profit waiting for someone with lots of money or desperate, then this dealership is taking advantage of the situation and should be avoided. Can you imagine if a gas station was charging $7.00 a gallon for gas and only waited for rich or desperate customers to pay their high fees ? What's the difference ???

[patfla06]

Originally Posted by Penglobal

While servicing my new Honda this past weekend (free warranty work) at the Honda dealership in Leesburg off US441, I looked around the dealership at the new Hondas. All the new cars on sale had an amended priced list which covered the usually high profit mark-up items such as wheel locks for $250 and floor mats for $400. I was amazed that every new car at this dealership also had a mark-up of $10,000 which was listed as a market adjustment charge and a new car salesman also informed me that their new vehicles were being sold at straight MSRP PLUS $10,000. Yes, they where charging an extra $10,000 more for the same vehicle that last year was sold for about 5% under MSRP. So a basic new Honda with a MSRP of about $26,000 was being sold for over $40,000, including all mark-ups, taxes and fees. My new Honda was purchased at another dealership in Orlando just seven months ago and it was purchased for under MSRP and without this $10,000 ripoff charge.

Why would anyone pay these exorbitant new car prices ???
Is this not price gauging???
Understanding that there is a new car shortage, but this dealership takes the cake for the biggest new car ripoff dealership anywhere in the area. I hope when things get back to normal, all us Villagers remember these companies that ripped us all off during this pandemic and not solicit their business in the future. Yes, the dealership starts with "J"!

We went to look at a Honda back in the 1980’s.
We asked what the additional $3,500 on sticker was and they told us due
to the demand.

We walked out of that dealership & never went to Honda again!!

[Kelevision]

10 Cars Selling for the Highest Markups | Kelley Blue Book 4 out of the 10 are Hondas.

[Laker14]

I'm no fan of car dealerships. I have to dig pretty deep into my layers of empathy to find a morsel of it to spend on them. However, I did come up with one idea.
If you have a. shiny new car showroom to pay for, and a staff of salespeople to feed, and all of the other items of overhead that come with running a business, and you have a scarcity of product to sell, then it stands to reason that you have to make more on each item you sell. Hence, a justification for the large mark-up.
Now, is that the case? I have no idea. The industry doesn't have a long history of giving a deuce for anything but skullduggery, and maximizing profits in the moment.
I doubt it's much different anywhere, but after 45 years of buying cars, I bought my first Honda 4 years ago, and I was not impressed with the way they handled the new car purchase experience, and I am very unimpressed with the way they've handled quality issues with the car itself. Not a fan of Honda. I'll never buy another one. We bought this one because DW loved it. In the future, if she loves a Honda, it will be a lease deal. They can continue to own their mistakes, instead of me.

[LateBoomer]

I had a similar experience with Jenkins here. Their "market adjustment" price was absurd. I saved $17K by buying in Clearwater. I would never go to Jenkins. They are just fleecing people.

It's not a Honda issue - I've owned three of them in the last 6 years and purchased in Tampa. Always got a fair price.

It's a Jenkins issue. All of their dealerships here. Honda. Hyundai. Kia. Mazda. Nissan. All of them. they are taking advantage of stupid people with money (or just stupid people who are willing to take out big loans for cars up here).

I literally got a Genesis in Clearwater at MSRP. the same car without an additional $17K for the same car down here just 2 months ago. My jaw must have literally dropped when the dealer quoted me $83,000 for a car that the MSRP was $67,500. AND gave me far less for my trade-in than even Kelley Blue Book. They tried to rip me off. We just walked out. 2 days later, I sent a copy of the invoice i actually paid to Fitzgerald Genesis in Clearwater to the salesman and the manager and told them that this is how honest dealers operate.

again, it's a Jenkins thing. and probably others in the area too, but all the Jenkins places were doing the same BS with the heavily marked up prices

[dewilson58]

MSRP............no whining when the price is below the suggested retail price. Supply & Demand baby, Supply & Demand.

[bowlingal]

Peng.....are you not allowed to say Jenkins?

[CoachKandSportsguy]

Originally Posted by Penglobal

Can you imagine if a gas station was charging $7.00 a gallon for gas and only waited for rich or desperate customers to pay their high fees ? What's the difference ???

A car is not gasoline. .

Advertising a car price is not a crime.
All car prices are negotiated prices, so that may not be the final price.

The crime would be that the car is substantially different than advertised.
There are whole departments in government set up to collect taxes on cars and to inspect cars, because prices vary all over the place, not quite the same on gasoline.

At the end of the day, its just a note to self to not go to that dealership if you have to buy a car. . . and be sure to keep you current care in good working order, as that is the cheapest insurance against having to buy a new to you car.

that is all the observation should be tagged with mentally. Anything else is a waste of time and brain resources. . .

Did you see the game last night?

[drgoofy]

My daughter looked at a KIA Telluride in July in Orlando. $15K over MSRP!

[tvbound]

It's a worldwide issue and the old saying comes into play - "whatever the market will bear." As in most things, the pendulum will eventually start swinging back the other way, but until then it's going to be rough for those that need to purchase a vehicle - new OR used.

[LateBoomer]

Originally Posted by CoachKandSportsguy

A car is not gasoline. .

Advertising a car price is not a crime.
All car prices are negotiated prices, so that may not be the final price.

I agree. but here's what we noticed with Jenkins. They were not actually advertising their bloated prices. You'd find the car on line on their page, and there would be a link saying "Email us for today's price" or something like that.

Ok. did that. with 17 nano-seconds, get a phone call from someone in sales. Not saying the price, but trying to get me to come in.. get info off me. but not at all indicating this price well above MSRP as advertised on the company's site (like Honda, or Genesis etc).

If they simply advertised the prices, I'd be like, ok. that's what they are! but they weren't. Jenkins is playing a game. Let you come inside. say all the right things but then hand you a quote that will make your jaw drop. Believe me, if they advertised on their page that the price of the car was not $67,500 as Genesis of America said it should be, but instead $83,000, I would not have bothered to drive over there. They were not advertising their actual prices!

Its a very deceptive little game they run at those dealerships.