We are in the market for a new vehicle, but with the current price gouging by dealers, we will wait. We don't have to pay monthly for any vehicles, dealers do. Let them suffer.Amazed at how few people were taught economics. Markets are based on supply and demand. When demand is high and supply is low, prices go up. That is not a problem we need politicians to fix. If you don't want to pay the price an item costs, do not buy the item.... at least from there. Maybe you can find a similar or identical item at a better price somewhere else. Whether that "somewhere else" is at a Honda, Chrysler, Kia, or even a different Toyota dealership is entirely up to you. We live in a free market society, which means that if someone is crazy, dumb, or desperate enough to pay $45,000 for a $40,000 vehicle, and the finance company will carry it (more on that in a second), the folks selling the in demand item will get what they can get. Would you sell your house for $500,000 if you could get $650,000? Of course not. And neither are they.
The market will very soon work itself out. Dealers are now demanding cash markups because lenders are saying "enough is enough" and they're not carrying thousands over MSRP anymore. It's too risky for them if the borrower defaults once the car has depreciated $20k in a year. The banks are seeing it coming and protecting themselves. Now, all that's left is for people to start saying "I don't have $5,000 in cash in addition to my down payment." If 20 people in a row say that, the markup will go away. It's only there because people pay it.