Thoughts on new and used car market?

[1q2w3e4r]

13 hours ago, Yeatesy said:

Unlike the building industry were builders have had to absorb price increases the car industry has this covered in the terms and conditions section of the contract.

This is from a VACC new vehicle sales contract, it may vary outside of Victoria though. 

https://www.consumer.vic.gov.au/products-and-services/business-practices/contracts/unfair-contract-terms

A standard form contract is one that has been prepared by one party to the contract and where the other party has little or no opportunity to negotiate the terms – that is, it is offered on a ‘take it or leave it’ basis.

The ACL protects consumers against contract terms that:

• would cause a significant imbalance in their rights and obligations under a contract
• are not reasonably necessary to protect the business, and
• would cause detriment (financial or otherwise) to a consumer.

[jakroo]

That may be the case 1234qwerty but the original post says that's it's a newer model and has more embedded features. Most cars go up on each release so it becomes difficult to ascertain where the balance lies between each party. Did the buyer need/want those features and would they have selected a different model of everyone knew of them at the time of agreement, and of course if it's costing the business more then they also may need to be protected (point 2 above) as per the ACL.

In this case, it also represents an increase of 15% which is material in anyone's case.

[AndrewM]

Out of interest, did the RRP of the car that you find on the website also go up by $7500 ? My understanding was that they can actually increase the price by that amount if the RRP goes up.

Think this one: 

 ?

Just re-watching that, John refers to that orders after 16 May 2022 are not protected from "this 2023 January price increase". (Not sure if it is protected form ones before that though...). Your order was before that so you ?shouldn't? be impacted?

Also, another fun read... https://www.drive.com.au/news/truth-behind-toyota-rav4-hybrid-delays-10-things-buyers-need-to-know-but-aren-t-always-told/

 

🤞 that it works out!

 

[Yeatesy]

That is correct orders after the 16/05/2022 have no price protection and the purchaser can cancel at anytime and obtain a refund. Any orders before this date have price protection but any increase due to a tech change/spec change is payable.

[1st]

Cancel the order and buy a second hand low km diesel Cayenne up to and around an equivalent price  … best value in the market for what they are 

[911]

1 hour ago, 1st said:

Cancel the order and buy a second hand low km diesel Cayenne up to and around an equivalent price  … best value in the market for what they are 

Thought about it. It's just they're around 8 years old now. Out of warranty and tech is likely dated in comparison. 

They have aged well with the styling though. Still do look good. 

[sleazius]

19 hours ago, GT3MEZ said:

Those conditions of contract still place a material obligation on the Dealer - it is far from just saying the price has gone by $x,

I'd be asking the dealer to evidence the change in their cost price and MRRP at the point of contract and when the car arrived to justify the $7500.

I'd be asking the dealer to evidence just what reasonable endeavour they undertook (if any) to notify the purchaser of any changes as they became aware of those changes - it is unlikely they worked there was a change in their cost or MRRP when they notified you.

Maybe the dealer figure is legit, but in my mind the Dealer has not satisfied the obligation they contracted into, and if not I know what remedy I would be chasing.

I'm not sure of the situation in other states, but at least here (NSW) I've held multiple dealers to the agreed contract if it has been signed in advance. I've found most dealers now won't sign a contract with you until the point of sale or the car is in the country. This was certainly the case with the last 2 cars I bought (and the one that is on order). I've got a deposit in, but no final price or contract signed.

[Mike-S]

Got the email a couple of days ago from Mini Melbourne saying SWMBO’s Clubman JCW is going into build next month, should have it July time. Ordered it back in May last year, back then they were saying July 23 build September delivery, so it’s a few months ahead of schedule. Now waiting to find out what the price hike will be….

[JLD]

20 hours ago, 911 said:

Thought about it. It's just they're around 8 years old now. Out of warranty and tech is likely dated in comparison. 

They have aged well with the styling though. Still do look good. 

My 2016 Macan Diesel is under warranty. I'd sell it for not much more than what you're paying for your RAV4

[t888]

1 hour ago, mrar said:

Oh what a feeling!

Lol.

Yeah this mind of thing can't be great for brand loyalty. Good thing the Korean brands are stepping up their game constantly although they don't have much in the way of hybrid offerings yet.

Mazda have new "premium" SUVs coming soon including a hybrid model but prices are at German levels so I'm not certain they will pull it off.

[sleazius]

Brand loyalty? 🤣