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Discussion Starter #1
GM has huge discounts, 0% financing for 84 months, and 180 days payment free, and our dealer provides 8 years of free oil changes.

Many of the manufacturers are looking to ramp up sales, so now might be a good time to look around if anyone is in the market for a new vehicle.
 

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My 35 year old car needed some work to further extend it's life. Heath and age issues slowing me down and shop rates high. However, I found a capable guy who is currently unemployed because of Covid who is charging me a lot less than shop rates. Win-Win for him and me - and for my old car :) It will now likely outlast me :(
 

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I'm not surprised GM is giving cars away. Nobody with any sense will buy one, or any other American car unless they plan on trading in every 2 years.

Are there any deals on Toyota Avalon?
 

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I was looking (just before covid) at Honda Civic, Toyota Corolla, or Hyundai Elantra.

I wonder if there are any steep sales on those? I don't think there has been any change in the used market. If someone has one of the above cars that's 1 or 2 years old, there's no way they will get rid of it.
 

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In Ontario, there was quite a glut of used cars that could not get shifted. Cars coming off of lease. My mother is in the market for a ~2017 RX350. For a while, they were being offered for $5k-7k under 'market' price (according to autotrader), with a number of significant price cuts in their history. I think people are a bit less afraid to go car shopping now and are driving more so the market is starting to move again. I would seriously consider a used car as well, if I were you. I assume you also won't be doing a lot of driving?

I would also suggest Mazda 3 if you are looking at that class of car.
 

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I would seriously consider a used car as well, if I were you. I assume you also won't be doing a lot of driving?

I would also suggest Mazda 3 if you are looking at that class of car.
My dad had a Mazda 3 and it was pretty nice, I agree it's a contender.

I wouldn't be driving a lot and it would have to be an amazing deal to be worth it. I'm not very seriously looking right now.
 

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I'm not seriously looking either. I only drive 14-15K in a typical year, so it's very hard for me to justify buying a new car. I would need to keep the car for at least 15 years to feel like I got value for my money.

I've looked at buying an electric car, but it would take me 10 years of gas savings just to "pay off" the price premium over a regular ICE car.

When electric cars finally come down to the price of ICE cars, there will be a serious value proposition. Not only would you be getting a new car with a warranty, but it would literally pay for itself in gas savings over 15 years.

I think I'll wait for that.
 

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Discussion Starter #10
I have a question regarding your post how do dealers make money with 0% financing?
The manufacturer pays the lender the interest on the loan upfront. The lenders bid on the loan contracts.

GM's advertising now shows how it works. It is unusual that they offer all the different choices at the same time.

Example........$60,000 vehicle

Cash price .........$50,000 (discount $10,000)

or 0% financing for 180 months and car for $54,000 (discount $6,000)

The $4,000 difference between the cash price and the financing price reflects the interest.

If a person has other deductions such as GM retiree, emergency health worker, student, military vet.......etc. it comes off the sales price.
 

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Discussion Starter #11 (Edited)
From the retiree letter I get from GM, the 2nd quarter sales in Canada overall sales were down, but trucks sales were way up.

The new Sierra and Silverado models are very popular. GM increased their market share in the truck sector.

Our dealer cannot keep trucks in stock. They are selling as soon as they get them. It is surprising that we are back to buying big SUVs and trucks.

I think people are hooked on larger vehicles now. They went back and tried smaller vehicles and didn't like them, so they are back to big vehicles again.
 

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Discussion Starter #12
I thought there would be some deals but I've yet to see anything noteworthy. Anything good under 20K?
How small are you willing to go ?

GM eliminated their Cruze models (which was a mistake on their part according to our dealer), but they offer the Chevrolet Spark.

The price starts at $10,000 but quickly ratchets up with options. It is a small car but is getting top reviews on Youtube as the best deal on the market.
 
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