There's Now A Site That Tracks Dealer Markups
People are using a new website that tracks dealer markups so you don't overspend on your next ride.
Written by Andrew Kidd
Reviewed by Kathleen Flear
It's a seller's market for new (and used) vehicles right now, which isn't great if you're in dire need of
buying
a new ride. Automotive companies know it—and so do their dealer networks, who are capitalizing on that demand with high markups.But one crowdsourced website is attempting to track just how greedy car dealerships are getting so you can know which ones to avoid.
Identifying mark-ups for consumers
As
Car and Driver
reports, a website called Markups.org
has popped up that uses crowdsourced data from users to catalog the various markups dealerships have been slapping on their inventory.We've seen price hikes across the industry in recent years, especially at the dealership level. While automakers say they're still reeling from COVID-19-related shutdowns and part shortages and dealerships are faced with inventory shortages, both are still pulling in record profits regardless.
It's only natural that consumers, with little in the way of protection from automakers in a country where a motor vehicle is pretty much required for survival, take matters into their own hands and start calling out bad deals when they see them.
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Who are the worst offenders?
The worst offender in the markup game, according to Markups.org, is Seth Wadley GMC, which has placed an eye-watering $200,000 markup on a 2022 Hummer EV. The next few are luxury auto dealers, with markups on Porsche and Mercedes vehicles ranging from $185,000 to $150,000.
As far as domestic vehicles, Brinson Ford of Athens, Texas has listed a 2022 Ford Mustang Mach-E for $10,000 over MSRP, according to the site, while Friendly Ford, also of Texas, has marked up a 2023 F-150 Raptor by $25,000.
Want a Chevrolet Suburban in North Carolina? Don't get it from Reed-Iallier Chevrolet, which has a 2022 model marked up by $7,500.
Electrified vehicles have huge markups
And if you were hoping to break into the electric vehicle market with a pickup
truck
, you should probably pass on Lindsay Ford of Wheaton, Maryland, which is listing a Ford F-150 Lightning for $30,000 over MSRP, while Woodbridge Ford in New Jersey has one listed for a whopping $41,000 over MSRP.Even gas-powered F-150s aren't immune to markups, with North East Ford of New York listing a 2022 F-150 at $43,075 above MSRP. Want a smaller truck? Avoid Cloninger Ford of Hickory, North Carolina, which is listing a 2022 Ford Maverick Hybrid for $17,000 above suggested retail.
MORE: Ford Is Trying To Stop People From Reselling F-150 Lightnings
Avoid paying too much anywhere
With sites like Markups.org, you should be able to find out at the very least who to avoid buying your next vehicle from. But if you're having trouble dodging shady dealer markups in your area, it might be easier to save money elsewhere. Thankfully, Jerry can help you do just that for your car insurance.
With insurance premiums rising across the nation in 2022, it's important to shop around.
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Jerry even helps cancel your old policy once you’ve made your pick. So don’t pay more for the same coverage, make sure you’re getting the fairest price possible.
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