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  1. #1
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    Question Marketing and Car Prices

    I just wanted some of the Dominicans or more experienced hands on the board to explain this to me ---

    I have been watching Supercarros for the last three months and the prices have not budged an inch... now I am from the land of Let's make a deal and the Two for One Special but it would seem logical that dealers would start to be moving the prices down to move their inventory off the lots?No?

    If it is true that as many as 40% of the financed cars have been returned (did I read that right?) then WHERE are the deals?

    Why do these used cars - which are 5 and 8 years old - still carry such high price tags? Isn't it true that you can't even insure a car for body damage after it is 7 years old?

    Is there a better place for bargins that I should be looking at?

    thanks for listening...

  2. #2
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    Because they can't see the numbers on the wall even if the lettering was bigger than HOLLYWOOD on the hill and they'd had their nose pressed against them (maybe that's why they don't). Most don't read news papers and are ill informed by the local new media and their politicians.

    Our locals are not used to cut losses in business at the right time. A spectacular panoply of ruins collaborate that theory of mine.

    Prices in super carros are and have been dream prices not just now but a long while ago... call them "asking" prices if you want to be diplomatic when describing them. Local buyers have a nebulous sense of true value and will bargain hard. So sellers anticipate that in their "asking" prices, while many are quite adept at showing quite some authority when trying to sell the idea that these are "rock bottom no BS sticker prices" to foreigners.

    I have seen 2 year old imports (used obviously) being offered for more than the local "official" dealer offers the same vehicle HERE, NEW.

    They moan and whine, claiming interest rates are too high (they are indeed for locals earning in local currency), but much like real estate, the budging has not yet really started at a large scale. It will come. There is almost no more money left on the streets. Small business and families are hurting, but still spending on funny hair jobs and other not so necessary garbage.
    Yet, I seem to see a new surge of "normal" people trying to hitchhike, something which I had not seen much in the past few years along the main roads.

    Money slowly starts to move things again with a little more leverage. I'd reckon car dealers will feel the heat too and that a hard negotiating buyer with the right money can or soon will be able to get real deals.


    ... J-D.

  3. #3
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    Blatant greed

  4. #4
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    It reminds me of some friends of mine looking for a place to rent. The place they were looking to rent at the time was vacant for a good 6 months. They made an offer that was around 1000 pesos less than what the asking price was. (I think they were asking for 7000 pesos or something monthly) The owners were in no way willing to budge on the price. My friends didn't end up renting there, and so the house remained vacant for another year or so.. Funny how some people can be so stubborn on the prices and would rather make no $ then to come down a little bit.

    Some time back I sold a motorcycle, and for kicks I set the price real low but refused to drop it any more. I had many locals want to buy the bike, but as soon as I told them the price was firm, they were uninterested. I told them they would never find another comparable bike for cheaper. (which was the truth) Finally after a few weeks, one came back and unwillingly bought it for the price that I had set. Soon thereafter others came around and asked if it had sold. After I said that it had, they were all kicking themselves in the a$$ for not having jumped on the offer

  5. #5
    apostropheman
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    Lightbulb Perhaps this will help...

    There are good solid vehicles available in the DR and they are not necessarily sold at grossly inflated prices. I know people that have bought excellent quality used cars, with clean and verifiable past histories, for about the same and occasionally even less than what one might expect to pay in the US.

    Sometimes it's about being in the right place at the right time but usually it comes down to shopping in the right places and knowing the right people as well as having a decent history with the seller, i.e. the car dealer.

    If you do not know where to shop you need to find someone who does and who has this type of relationship. You also need to be patient and able to make the deal when it is available. "ya snooze, ya lose".

    I know of too many people that have successfully purchased used vehicles, that were at least happy and often thrilled with their purchases, and still are, to think otherwise.

    On the other hand I've heard horror stories of the rushed or uninformed, or worse misinformed, that have gotten a poor deal or regretted trying to bring their vehicle into the DR themselves or with the assistance of a broker.

    In RE the "golden Rule is "location, location, location". With vehicles in the DR it's more about "information, information, information".

    While I have not purchased a vehicle in the DR I am certain, yes certain, that when the time comes I will be able to get an excellent used vehicle with the assistance of my friends that know where to shop. I'll be patient and make the deal without hesitation when it is time. Of this I have no doubt as I am blessed with friends that live wonderful lives in the DR and are happy to, no insist upon, helping their friends succeed.

    I hope everyone has friends like mine and if you don't....

  6. #6
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    Talking

    Robert edited: Another idiot post by AK74, enough!
    Last edited by DR1Admin; 06-28-2009 at 11:00 AM.

  7. #7
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    One truism of the DR:

    There are no "comparables" in most industries to determine where the market price of almost anything actually lies.

    Another truism: when a Dominican seller sets a price, it's firm. When a Dominican buyer looks to purchase, they expect a steeply discounted negotiated deal. No wonder not much gets sold...

  8. #8
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    First of all, any prices found on the internet are going to be inflated, because only the very few and relatively affluent here in the DR have internet in their house. As Dominicans are very market savvy they will take advantage of this. Furthermore, those that advertize using this medium are more than likely somewhat affluent and therefore won't be in any rush to sell their car, same with these type of people when it comes to their houses, etc.

    In order to get a good, deal (and they can be found) one has to be patient and ask around for deals, "negocio de opportunidad". Also, sometime one can get lucky at a smaller agencia that is trying to move cars off the lot.

    A good example of a "negocio de oportunidad" is recently my cuņado bought a mid 90's 4 door Honda in very good condition for RD150k, something that easily could have gone for for over 200k at an agencia.

  9. #9
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    I have seen dominican business -when they are slow- they do raise their prices, that's how they try to make up their losses.
    Now try to explain the "supply and demand" situation to them.
    I think those who lived and worked in the US run their business better.
    The other thing is - no offense - but many dominicans are "show off". They tend to buy things that they can't afford. I see that every day in my business.
    They bring their nice cars here - in which they dumped all their savings and loan- and can't pay for a basic maintenance. Why the hell do you big shot macho guy buy a 745 Li -on which nothing cost less than US$ 1000 - if you can't even afford a 3 series???
    90% of them are saying:" - I just want to get the most important thing to fix, because I'm trading it in for a new car."
    Well, that's what you said in February - and since you don't have any $ to fix those most important things, how are you going to buy a new one?
    Thanks God for the other 10% who can actually afford to buy luxury cars.
    Back to the OP's question. Yes, it is possible to find an affordable car. You will see great deals in 2-3 months from now.
    Anyway, before you buy a new car definitely get it checked over, otherwise you might end up to buy a money pit.. Don't ask your gas pump operator neighbor to check it , sure he "works with cars", but it doesn't mean he knows anything about them. Take it to a good mechanic. Don't forget: the cheapest used cars are the most expensive.
    Zee

  10. #10
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    why did ak74's message get deleted?

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