Car dealers aren't offering many deals these days, according to a new report from Edmunds.
A study from the online marketplace found that 82.2% of new car buyers paid over the manufacturer's suggested retail price (MSRP) in January, up from .3% in January 2020, before the coronavirus pandemic started affecting the industry
The average price paid above sticker was $728, while savvy shoppers were getting a discount of $2,648 just two years ago. Cadillac's customers led the way by paying a $4,048 premium, followed by Land Rover's ($2,565) and Kia 's ($2,289).
"This is in part driven by affluent consumers being willing to shell out more cash to get the vehicles that they want, but there's also a vast population of individuals who are being forced to do so simply because they need transportation and have no other choice," Jessica Caldwell, Edmunds executive director of insights, said.
Of the 33 brands looked at by Edmunds, only six were selling cars under MSRP: Mini, BMW, Ram, Lincoln, Volvo and Alfa Romeo, with the last of those letting its luxury sports sedans and SUVs go at a $3,421 discount.
Edmunds suggests holding off on a new car purchase if you can, but said price relief isn't expected to arrive very soon.