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Hello all! I'm in the market for a HP (woohoo!) and have found several 2018 HP models meeting my criteria. Most of the ones I found are loaded and low mileage priced around the $270k mark. Given the current economic situation and crisis figured dealers would be motivated to push them but all of the dealers with nice condition HPs flat out refused negotiating on price. In fact, they pretty much said they'd rather ride out the recession and let them sit until a buyer shows up. I always thought dealers would be willing to negotiate.

Any thoughts and recommendations?

Related question - Is it even worth dropping $270k ATM or better to just wait for the new STS model?

Cheers!
 

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Hello all! I'm in the market for a HP (woohoo!) and have found several 2018 HP models meeting my criteria. Most of the ones I found are loaded and low mileage priced around the $270k mark. Given the current economic situation and crisis figured dealers would be motivated to push them but all of the dealers with nice condition HPs flat out refused negotiating on price. In fact, they pretty much said they'd rather ride out the recession and let them sit until a buyer shows up. I always thought dealers would be willing to negotiate.

Any thoughts and recommendations?

Related question - Is it even worth dropping $270k ATM or better to just wait for the new STS model?

Cheers!

Dealers are not feeling it yet. I would wait 2-3 months and see what happens. Time will tell.


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Circle back in July-August. Those $270K Perfs will be low 200’s as leveraged owners will have to liquidate to cover margin calls or pump personal savings into their business to stay afloat.

Sad but true.
 

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Maybe I need to unload my 580-2 now before it crashes to 100k. Or maybe it already is at wholesale. No one saw this coming down this bad just few weeks ago, likewise, no ones knows what a future beholds in 3 months or beyond.
 

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Discussion Starter #6 (Edited)
Thanks guys. I agree. Technically speaking the last thing on a consumer's mind would be a super luxury car purchase with a recession around the corner. I've been tracking finance rates as well for used auto loans. So far they haven't decreased but I anticipate they will as the economy drops. Appreciate the responses!
 

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Im also in the market. I was pulling the trigger on a 2018 Aventador s last week but when they announced the shut downs I decided to hold off. Sit tight we’re going to be Able to buy these for a fraction of the price in the coming weeks/months. Worst case we cant ether way we have nothing to lose.
 

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Too soon to be looking for deals. Not only are dealers riding this out but there's a lot of people riding this out to see how things play out in the coming weeks. You might have a private seller who's desperate to sell but haven't see any virus fire sales as of yet.

For all we know we could have a V shaped recovery and instead of prices plunging, prices might hold steady or slightly go up. Remember, Lamborghini factory could be shutdown until end of April so existing orders will be delayed for months so imagine new orders. I bet dealers won't be taking new orders until current orders are fulfilled which could mean more demand for cars and less supply.
 

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I bet dealers won't be taking new orders until current orders are fulfilled which could mean more demand for cars and less supply.
I doubt that.

If they can get their hands on a down payment, they wil ltake it ... regardless if it takes 6 months or 2 years to fullfill the order.
 

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Leon, is your delivery still on schedule? Or can you even find out.
 

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I doubt that.

If they can get their hands on a down payment, they wil ltake it ... regardless if it takes 6 months or 2 years to fullfill the order.
It's buyer beware I guess because I wouldn't be ordering a new car any time soon. The delays are going to be long with timelines all over the place. My HP was stuck in Italy last year because of EPA certification delays, production was 6 months + 4 months for EPA delays.
 

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I'm in the same boat. I was going to buy a HP this month but decided to hold off for another month or two to see how things pane out. Oil and Gas is down, Markets are down, Retail is down, Housing is about to take a down turn. So unless this Corona virus blows over, We are about to be down for an entire year before we come back up.
 

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In my estimate the economy will be affected negatively for probably a year (or possibly more) due to the virus, kind of like the 2008 recession. If that's the case, the best time to buy would be end of summer, on the last day of the month. Because if the car lots had a bad summer, and more cars are for sale by people looking for money, at that point prices will come down, or at least they will be very willing to go lower than the advertised price.

Note: I'm a computer geek, not a financial advisor so take it with a grain of salt.
 

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With statewide "stay at home" mandate now in place, will dealerships even be open? Unsure they are considered an "essential" business. Car Repair however is listed as an essential business in my state.
 

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Also I think it's premature to anticipate a V-shape economic recovery. Markets tanking globally and so many businesses being shuttered with millions out of work suggests a U-shape curve or perhaps even a L-shape like the Great Depression.

Nobody can predict the future which makes this pandemic so disconcerting.
 

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Here in Honolulu Lamborghini showroom is closed but service is open. Probably the same at other dealerships. Just today we are ordered to stay home and work from home. Tourism is gone. Anyone coming in will be automatically quarantined.
 

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I got an email today from a large exotics dealer, “no payments until August”....

The downturn hasn’t happened for exotics yet but it will. It will take a while before it hits and in my experience, the downturn on exotics is so niche, that you will have a hard time trying to duplicate another persons results good or bad if it’s like 2008-2011. The last downturn is probably different because back then there was not as many transactions or exotic cars produced so this time it could be worse and more predictable.

I believe the big new car dealers will bleed good car deals but I’m referring to ford, Chevy, Kia, no idea on new exotic dealers.
 

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Lets see what happens with the stimulus bill. I know people who made a lot of money before the crash, I know a lot of people who are making money right now playing the markets and will make a lot of money once the pandemic is done with.

There's no COVID sales from the main dealers and most will try ride this out so I don't know if they'll be huge drops as some are expecting. Private sellers will be your best bet for deals but those cars should starting up soon.
 

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Italy is being hit hard by the virus and may affect how the factory operates for a long time and this will decrease supply of new cars. News is still reporting many Italians not practicing social distancing. Not sure if this will push people to buy used and keep used prices up higher to zero out effect of economic downturn.
 

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I'm in the market for a HP Spyder and I'm going to wait until June-August until the market feels the pain. It's too early if you're looking for a deal .
 
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