INEOS will NOT protect order holders in the US from dealer markups

[Shinobi]

At the tampa.get together the ineos rep said reservation holders are protected from dealer markups but only reservation holders. The video is on YouTube

I agree on that, I made the reservation on Day One within minutes and made my option as soon as it a live on website. Optioned with all the bells and whistles for Overland and Extreme off road. The dealership finalized the contract it did not go over $95000. We are talking about first orders, they told us it will be raise for the next orders but reasonable.

 

[AZGrenadier]

Out of curiosity, if one of you were offered 50k over list for something you had, would you sell it at list? Let’s say that was a condo, watch, house, toilet paper, or an IG? I don’t think anyone here would say, you know what, I don’t think that is a fair price, I don’t think you should pay me a dime over what the price is. One member on these forums was selling a house and told his realtor, “I need top dollar” or something along those lines. They didn’t say, “Sell it for what Zillow says it is worth”. I don’t have a problem with by the way, it is just an example.

Other thing to keep in mind, Ineos is selling boutique vehicles in very low volume compared to the big boys. These will be sold on every continent in the world. It would be more difficult to get “factory sales and service” setup to manage all of these areas then it would be to build the car in the first place.

If people don’t like what the dealers are asking, don’t buy the car. If they screw with us reservation holders then each person has to place a number in what they think the value of the vehicle is and decide if it is for them or not.

 

[Norb-TX]

I think we found a dealer.

 

[AZGrenadier]

I think we found a dealer.

Nope, just a reservation holder. Now two after my wife drove one. I don’t want to have to deal with dealer markups after the initial list is gone through. And sure as hell don’t want to deal with the used market.

 

[trobex]

Nope, just a reservation holder. Now two after my wife drove one. I don’t want to have to deal with dealer markups after the initial list is gone through. And sure as hell don’t want to deal with the used market.

They need to protect them dealers somehow in the USofA. Just like we protect our local real estate agents - the middleman, spruiking overpriced homes to people and watching interest rates wreak havoc 3 months later!!! It will be interesting to see what the 'base' model actually goes for in some areas. I suspect 'some' will mark up hard and try get buyers FOMO to play the part.

 

[DaveB]

They need to protect them dealers somehow in the USofA. Just like we protect our local real estate agents - the middleman, spruiking overpriced homes to people and watching interest rates wreak havoc 3 months later!!! It will be interesting to see what the 'base' model actually goes for in some areas. I suspect 'some' will mark up hard and try get buyers FOMO to play the part.

When I bought/built my first home I fixed my interest rates at 10% for the first 6 months with the Tasmanian Development Fund but within a year later they had gone up to 18.22% and I had to sell my house.
People from Sydney and Melbourne were selling their houses and moving to Tasmania and buying entire streets.
For the last year or so people have been paying stupid money for houses based on interest rates at 2-4%
Now they have gone up to 5-6% people are unable to pay their loans.
Clearly they borrowed too much and paid too much.

 

[AZGrenadier]

It’s amazing how some people still don’t understand interest. When they were low here in the US I refinanced two houses. One on a 15yr 2 5/8% and the other on a 30yr 2 5/8%. I knew some people getting variable rates at the time. While they haven’t hit their 5 year marks yet they will go up in another couple. One friend is pretty strapped for money as is. I wonder if he will be able to afford the house when the payment goes up 3-4hundred a month.

 

[REOhio]

According this Q&A with Jeff Clark, US leader, there will not be dealer markups:

Answering Your Questions

ineosgrenadier.com

That is true for early reservation holders. Not true once the orders are open to the public. The "price protection" for "the early reservationists" as they have been called was confirmed by the spokesman (Wes) at the Tampa event last month.

 

[BD1]

I was referring to initial reservations

 

[MidnightCamper]

Yes, even in "NEW MESSICO".

hahaha One of Our Fifty Isn't Missing. Lived in Espanola, loved it.

 

[vjmvjm]

There are hundreds of them

Bosch Car Service Repair Centers in U.S.A.

Bosch Technical Support Service in Usa. Certified service - repair center and store locator

www.service-center-locator.com

View attachment 7805592

Well, the Ineos rep at the Colorado 4/20 Test Drive said that Ineos will not be using the Bosch network in the US. The dealers will be handing "remote servicing". If I buy, I'll be 6.5 to 10 hours remote from anticipated dealers. Wonder how a warranty claim will be handled.

 

[Davman]

Well, the Ineos rep at the Colorado 4/20 Test Drive said that Ineos will not be using the Bosch network in the US.

Unfortunately I have heard that the Bosch deal in Australia is on very shaky ground as well - this came from someone with an Ineos shirt on.

 

[Krabby]

Unfortunately I have heard that the Bosch deal in Australia is on very shaky ground as well - this came from someone with an Ineos shirt on.

If so, that would be a big dent in their claim of service never being too far away - especially in Australia.

 

[DaveB]

Well, the Ineos rep at the Colorado 4/20 Test Drive said that Ineos will not be using the Bosch network in the US. The dealers will be handing "remote servicing". If I buy, I'll be 6.5 to 10 hours remote from anticipated dealers. Wonder how a warranty claim will be handled.

The US setup is certainly going to be difficult and interesting to watch unfold.
On the right is the map of Australia in true size on top of the map of US and Canada for comparison
On the left is a map showing the Ineos dealers and circled is the area where a lot of Grenadiers will be getting dirty.
I will be 5+ hours away from a dealer pretty much every day I drive for work.

 

[DaveB]

It’s amazing how some people still don’t understand interest. When they were low here in the US I refinanced two houses. One on a 15yr 2 5/8% and the other on a 30yr 2 5/8%. I knew some people getting variable rates at the time. While they haven’t hit their 5 year marks yet they will go up in another couple. One friend is pretty strapped for money as is. I wonder if he will be able to afford the house when the payment goes up 3-4hundred a month.

The longest you can fix an interest rate in Australia is 2-3 years

 

[Krabby]

The longest you can fix an interest rate in Australia is 2-3 years

Really? Even on mortgages?

 

[DaveB]

Really? Even on mortgages?

Particularly on mortgages.
I haven't seen a vehicle loan that you can fix the rates on.

 

[bigleonski]

Really? Even on mortgages?

Generally 5 years max for motor leasing / loans and the same with residential mortgages. Commercial/ Corporate facilities can run longer but are rarely taken up.

Not sure where you’re looking Dave. No one in their right mind would fix long now given where the market rates are, but 5 is the industry standard term for max fixed.

 

[Krabby]

I had no idea. It’s pretty easy to be ethnocentric as an American so it never really crossed my mind. There are a variety of mortgage options here and we opted for a 30-year fixed interest rate.

 

[DaveB]

Generally 5 years max for motor leasing / loans and the same with residential mortgages. Commercial/ Corporate facilities can run longer but are rarely taken up.

Not sure where you’re looking Dave. No one in their right mind would fix long now given where the market rates are, but 5 is the industry standard term for max fixed.

Not looking, just going from memory
I fixed my mortgages for 2 years which has now gone to variable on one and has a year to go on fixed on the other.
Hopefully both will be paid out in a couple of months.
Car was 2 years fixed and then variable, currently on 5.29%. Finishes on 21st May.
Planning on paying cash for the Grenadier.