When Is it OK to Pay the Sticker Price (MSRP) for a New Car?

by Gabrielle DeSantis

When shopping for a new car, it’s common knowledge to always to pay as little as possible for it or at least get some kind of discount. However, the market has fluctuated a lot this year, leaving some buyers no choice but to pay the full sticker price (MSRP) for a new car. Believe it or not, there are certain times when that’s OK to do.

Expect to pay full price on highly anticipated cars

2022 Honda Civic Sedan Touring | Honda

Some car shoppers live to negotiate prices on cars and subscribe to the “never pay retail” philosophy. That’s not a bad motto to live by considering those buyers have likely saved a lot of money when buying cars in the past. But that might not always be the case, reports Edmunds, especially if the car is all-new for that particular model year.

For example, the 2022 Honda Civic recently hit dealer showrooms, so you might think that it’s possible to get a discount right off the bat. Not so fast, says Edmunds, “some new cars are highly anticipated and even before the car reaches the dealership, there is a waiting list of eager buyers.” In those cases, most dealerships won’t budge on the car’s pricing and will sometimes even charge more for it based on demand. In that case, if you really need to have the car, then pay the MSRP for it, since that might be the best price you can get.

Rare color combinations and options can command a higher price

bmws parked outside dealership
BMWs Parked Outside Dealership | Yuriko Nakao/Getty Images

If you’ve been on the hunt for a rare car like a 2021 Toyota Supra A91 Edition in blue, then you can expect to pay full price for it. Edmunds notes that the salesperson will likely know the rarity of the car that they’re selling, which will prevent them from offering any discounts on the car. Just like most other things in life, the rarer something is, the more it costs.

Your geographical location can affect a car’s price

Where you are shopping for the car can have an effect on the car’s price as well. For example, if you’re shopping for a new car in the LA, Calif., area, then you could have a better chance of getting a discount on it due to the saturation of dealers in the area. On the other hand, if you’re shopping in a small town in Nebraska, then your dealership options could be limited, which could lead you to pay the full sticker price for the car.

If you order a new car, then you may need to pay full MSRP for it

Ford bronco assembly
Ford Motor Company’s 2021 Ford Bronco is seen on the line at their Michigan Assembly Plant in Wayne, Michigan on June 14, 2021. – Four-door Bronco models are now shipping to the dealerships and then to the customers. Ford has invested $750 million USD and added approximately 2,700 direct jobs at the Michigan Assembly Plant to build the sixth-generation Bronco. This plant also assembles the Ford Ranger pickup truck. (Photo by JEFF KOWALSKY / AFP) (Photo by JEFF KOWALSKY/AFP via Getty Images)

If you decide to order a new car because you just have to have a specific color, trim level, or configuration, then you could expect to pay the full MSRP for it. While some dealerships might offer you a discount, others see it as a “future sale” and will have little incentive to negotiate on the price.

If paying full MRSP is the company’s policy

A car parking lot with two rows of 6 cars of mixed colors with black, silver, and red cars.
Dealership car sales | Getty Images

There are some dealerships that have a strict policy on only selling cars at full price. And while this might not pertain to new cars, there are a few used car outfits like Carvana and Carmax that adhere to this rule. In that case, prepare to pay full retail price for a car.

There’s no shame in paying full MSRP for a car

While some buyers feel that you should always get a discount on a new car, that’s not always the case. Cars are subject to the basic laws of “supply and demand,” so if a car is in high demand or in limited supply, then you can expect to pay full price for it. Don’t worry, in those cases, there’s no shame in doing so.  

RELATED: How Much Can I Negotiate Off of a 2021 Model Car?

The post When Is it OK to Pay the Sticker Price (MSRP) for a New Car? appeared first on MotorBiscuit.

/by

Consumer Reports Says You Should Consider Buying Your Leased Used Car

by Gabrielle DeSantis

Car prices are all over this place right now, but is there another option out there? Consumer Reports suggests buying out your current lease instead of trying to buy an overpriced used car. Before making any decisions, be sure to compare prices from places like CarMax, Auto Trader, and other online retailers.

Consumer Reports says your current used car is a better deal

Consumer Reports Says You Should Consider Buying Your Leased Used Car | Liam McBurney/PA Images via Getty Images

Are you constantly searching for a car that isn’t outrageously priced? Consumer Reports suggests that if you currently have a lease on a vehicle, why not try and use that to your advantage? The buyout price for your current lease might be lower than the market value of the car. This is a good idea if you are nearing the end of your lease and have to decide soon.

At the start of the lease period, the company should have included a recalculated buy-out price in the paperwork. During regular times, this price might not be a good deal. However, these are not regular times. The buyout price could mean significant savings instead of selling to a third party.

Jake Fisher of Consumer Reports’ Auto Test Center said, “There was no way for the folks that drew up leasing contracts a few years ago to know that those cars would be valued so high today.” So whatever value your car was when your lease began is going to get buyers a better deal.

Consumer Reports says that buying a used car out of a lease might work

Jen Stockburger from Consumer Reports Auto Test Center put this theory to the test. The buyout price of a 2018 Subaru Impreza was less than the market value about two months ago. Stockburger decided to buy the Impreza out of the lease for the price of $15,760. CarMax would offer $18,000 for it, a 14% premium. A private sale might have offered more, but it is also more of a hassle.

Stockburger kept the car. By the time July rolled around, CarMax was offering $18,400 for the same vehicle. CR notes that TrueCar found that used vehicle prices were up 35% in June this year compared to June 2018. Many of the cars coming off lease now were being leased at that time. Nick Woolard from TrueCar said, “There is a strong relationship between buyouts and used prices. When used prices are weak, more customers walk and let the dealer keep the vehicle.”

While supply is still low, leaseholders might have an upperhand

Typically when a leased car reaches the end of the lease period, many people turn in the car and pick another one to lease from the same manufacturer. But since the supply is so low, the prices of used and new vehicles are at an all-time high. During the pandemic, automakers were hit with supply chain issues and issues staffing production plants.

There has been a sharp decline in the supply of cars, while the demand has only gone up. Automakers have still not recovered, production-wise, and the availability of new vehicles is still low.

If your lease is coming to an end, it is worth it to get an estimate to see what your car is worth. You can use this information to compare it to the value noted on your lease contract. You can buy your current used car for much less than you could get it elsewhere. Or, you can buy your car and sell it to make some money. Either way, your leased car might offer a solid buying opportunity.

RELATED: The Best Used Cars Under $10,000 According to Cars.com

The post Consumer Reports Says You Should Consider Buying Your Leased Used Car appeared first on MotorBiscuit.

/by

How Fast Is the McLaren 765LT Spider?

by Gabrielle DeSantis

With its dynamic design and unreal performance, the McLaren 765LT coupe is definitely one of the most recognizable supercars. This mid-engine newcomer races out the gate at less than 3,000 pounds with a growling twin-turbo V8 engine. However, the McLaren 765LT is about to get even better, especially if you prefer convertibles.

The McLaren 765LT Spider follows the 720S model’s lead with the same mechanically-folding roof. This adds 108 pounds of weight to the vehicle, but is it enough to affect its speed? MotorTrend gives us the details.

How fast is the McLaren 765LT Spider?

The McLaren 765LT Spider | McLaren Automotive Limited

Exact performance specs have yet to be released, but they will probably be nearly identical to the coupe version. The McLaren 765LT can reportedly reach 60 mph in 2.7 seconds, with 205 mph for its top speed. It doesn’t seem to lose momentum either, clearing 124 mph in 7.2 seconds and a quarter-mile in 10 seconds.

The engine itself is capable of 755 hp, paired with a seven-speed dual-clutch automatic transmission. According to Car and Driver, the steering is responsive and well-weighted, aided by a solid pair of brakes. Testers also opted to get the available Pirelli racing tires for added grip.

In addition to its lightweight construction, the McLaren 765LT can also reach godly speeds because of an add-on aero package. This includes a huge rear wing spoiler to aid with downforce. The carbon-ceramic brakes also provide faster performance without too much degradation after repeated risky maneuvers. This vehicle is also highly susceptible to oversteer, which is why it’s equipped with variable drift control.

The inside of the McLaren 765LT is fairly simplistic, allowing you to focus more on the drive. Fewer interior trappings also ensure that the 765LT keeps its lightweight figure. The handful of safety features on offer might make the 765LT heavier but could be useful for intense situations. One notable feature of the interior is the fold-down roof, which allegedly takes 11 seconds to deploy both ways but only up to 31 mph.

How does it compare to the rest of the Spider lineup?

According to duPont Registry, the McLaren 765LT Spider is the fastest vehicle in the Spider convertible line. The 720S Spider comes close at 2.8 seconds, even with the added weight of the retractable roof. It also comes with the same twin-turbo V8 engine, but this one makes just 710 hp. However, the 720S boasts a slightly higher maximum speed of 212 mph.

The McLaren 720S Spider is also available in both Luxury and Performance variants, the latter capping out at around $329,630. Just like the 765LT, it’s clad in carbon fiber to make it as lithe as possible on the track. The McLaren 570S Spider is slightly more affordable, retailing for around $211,300. Its twin-turbo V8 engine only produces 562 hp, but it’s still just as satisfying to drive as the other Spider models.

How is the McLaren 765LT Spider different from the coupe?

As MotorTrend eloquently puts it, the McLaren 765LT Spider is mechanically just the same as the coupe minus the chopped-off roof. However, the Spider models will be even more limited than the coupe models with a higher price to match. MotorTrend reports the McLaren 765LT Spider will start at $382,500.

For comparison, the McLaren 765LT coupe cost around $375,000 when it was released. Most of these sold out instantly and fetch price tags of over $500,000 on the used market. Act fast when reservations open if you have the means and want to avoid inflation upon the McLaren 765LT Spider’s release.

RELATED: $400,000 2021 McLaren 765 LT Catches Fire After a Few Days of Ownership

The post How Fast Is the McLaren 765LT Spider? appeared first on MotorBiscuit.

/by

You Should Buy the 2021 Mazda CX-30, Not the CX-3

by Gabrielle DeSantis

The 2021 Mazda CX-30 and 2021 Mazda CX-3 are subcompact SUVs with similar overall scores and identical road test scores. Yet the owner satisfaction rating on the 2021 Mazda CX-30 is twice as high as that of the 2021 Mazda CX-3. What do owners of the CX-30 like so much more than the CX-3?

2021 Mazda CX-3 | Mazda

Consumer Reports surveys tell part of the picture

Consumer Reports sends surveys to current owners of the vehicles it tests to gather information about how happy they are with their vehicles. 

The CX-30 gets an excellent predicted owner satisfaction score, at a 4/5. The driving experience gets an 87, while comfort gets a 78. Styling gets an 87, and value is a 65, which is high for a value score. 75% of people would buy the CX-30 again.

The CX-3 gets a poor owner satisfaction score, at a 2/5. The driving experience gets a 70, while comfort gets a 43. Styling gets a 74, and value is a 56. Only 52% of people would buy the CX-3 again.

Both the CX-30 and CX-3 lack comfort

The 2021 Mazda CX-3 gets an okay 3/5 for its ride, as well as for noise. Front-seat comfort is also okay, at a 3/5. Rear seat comfort gets only a 2/5. Interior fit and finish get a very good 3/5. The trunk and cargo space scores only a 1/5, with just 18 cubic feet of storage space.

Consumer Reports notes that the improvement in size over the CX-30 is minor. They say “Although not as tiny as the CX-3, the CX-30 still feels cramped inside. The cockpit and center console are nicely trimmed and conceal lots of storage for small items, but the snug design encroaches on the driver and front passenger. The rear seat is tight, and small side windows hurt outward visibility.”

The 2021 Mazda CX-30 gets an okay 3/5 for its ride, as well as for noise. Front-seat comfort is pretty good, at a 4/5. Rear seat comfort gets only a 3/5. Interior fit and finish get a very good 4/5. The trunk and cargo space scores only a 1/5, with just 21.5 cubic feet of storage space. Although this isn’t an amazing score, it’s better than the CX-3. 

You won’t lose safety in either SUV

Both the 2021 Mazda CX-30 and 2021 Mazda CX-3 have been crash-tested by the Insurance Institute for Highway Safety (IIHS) and National Highway Traffic Administration. They have identical safety ratings. The IIHS gives them both good ratings for everything. The NHTSA gives them five stars for everything except for rollover rating. The rating for both the 2WD and 4WD rollover is four stars.

Both the 2021 Mazda CX-30 and 2021 Mazda CX-3 are good options for anyone looking for a subcompact SUV. Yet the Mazda CX-30 is a better choice thanks to its owner satisfaction rating and increased comfort. If you’re torn between the CX-30 and the CX-3, the CX-30 is the way to go.

RELATED: 4 Consumer Reports Recommended Three-Row SUVs With Captain’s Chairs

The post You Should Buy the 2021 Mazda CX-30, Not the CX-3 appeared first on MotorBiscuit.

/by