What are the markups now?

[Anonymous]

I just tried pricing out a Hyundai Ioniq. MSRP is $25K, but most dealers here are selling it market rate at $29K before taxes. Are Teslas also being marked up? We have another 9 months before needing to renew our current registration and current are is ok for local commute, should I wait another 6 months or will chip shortage keep going for another year?

[Anonymous]

How many times is this going to be asked?! No one really knows when the chip shortage is going to end. If you don’t desperately need a car right now, you’re probably better off waiting. If you desperately need a car right now, you’ll have a hard time finding a deal who isn’t charging a “market value adjustment”, but you can still negotiate down a bit from that price. Also not all dealers are charging the same market value adjustment. We needed a new car to replace my husbands 13 year old Honda with 245k miles on it, in preparation for baby number 3. A dealer in Frederick was charging a $5,000 adjustment on top of MSRP (not including taxes). The dealer we ended up going with was charging a $3,650 adjustment, and I got him down $1800 to an adjustment of $1850, plus taxes and title.

[Anonymous]

GM has 3-4K discounts. Some dealers have promotions. We spent months looking for deals and bought a new car from out of state at 20% off MSRP.

[Anonymous]

We bought a Honda today. Some dealers in VA wanted a $4K markup. One dealer had no markup, but no cars in stock with trim line we wanted. Said their dealership was first come, first serve. They would call when car came in and who ever gets there first, gets the car.

We ended up in MD. Dealer had a markup of $995, which we negotiated down to $0. Again, somewhat competitive situation where another couple was looking at the car at the same time as us. Maryland cheaper anyway for processing fees.

[Anonymous]

Mercedes told us $10k over MSRP when we went in a few weeks ago.

[Anonymous]

A VA Audi dealer wanted an extra $13K on a Q7. We said no thank you.