Cars and the Corona....

Sulu

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The 2020 New York Auto Show has now officially been cancelled. Originally scheduled for April, it was postponed to August when a field hospital was set up in the Javits Center, the home of the annual New York Auto Show. Although the field hospital has not been used, it remains on standby should the need arise. This has made the Center unavailable for the Auto Show.

 

IS-SV

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Tesla announced price drops today (and it's easy to guess that it's corona-related), $5K on S/X, $2K on 3, no change on Y.
 

suxeL

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Toyota TM has already reported a drop of 25.7% new auto sales from last month — not a great number, but pent-up demand over time ought to bring these figures into something of a “V”-shaped curve (hopefully), as well. Overall, May sales are expected to come in around 11.8 million vehicles sold. This is well below the earlier estimate of 15.5 million sales, but already a marked improvement from April’s 8.6 million sales.
Interesting developments. Zero percent has now been extended to every single model in the lineup in both Toyota and Lexus. Cash Rebates have been few and far between still though.

I guess the play is that with inventory dwindling, its still attractive to pay more with less interest...idk
 

suxeL

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so tempted
Interesting numbers. Apparently Hondas got some really good leases out by increasing their residuals (toyota is using the same strategy for select models like the tacoma and tundra). Pilot LX is the same money as a Honda CRV....more space for the same $$$.


Post pics if you go SI on us @Tragic Bronson.
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Another interesting tidbit which is a stark contrast and some terrible advice in my opinion, but dealers seem to be suggesting folks with negative equity to purchase a new vehicle with zero percent instead of pay down their existing vehicle loans.....smh
 
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Mainstream brands aren't the only ones offering deals. For example, Lexus is continuing to offer interest-free financing on almost its entire lineup. Everything from the entry-level Lexus UX or the flagship LC Coupe, you'll find 0% APR for 60 months (or 1.9% for 72). It doesn't get much better than this.

Although Lexus is offering some hefty rebates, some buyers may save more money by financing. For example, the 2020 Lexus LS offers a $5,000 rebate. With an $80,000 car, a 5-year loan at 5% would cost nearly $85,000. Choosing 0% APR would cost $80,000 and have a lower monthly payment to boot.
 
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