Let’s be frank — there’s no denying the economy has been turned upside down over the past two years. Supply chain inflation has driven the cost of everyday staples through the roof — and that’s if you can even find the ones you need (baby formula, anyone?). But for those in a position of trying to buy a new automobile in this bloodthirsty market, you’re in for a particularly hairy battle. Luckily, we found a tool to help you come out unscathed. Or, to avoid a fight altogether.
Early in the pandemic, a global semiconductor shortage limited the availability of microchips needed for various components in new vehicles. This left many vehicles unable to be shipped to dealers, squeezing supply and driving up auto prices across the globe. In a recent report from Cox Automotive, new-vehicle transaction prices hit a record in June, with Kelley Blue Book measuring the median MSRP over $48,000. This is especially concerning given that the affordability index for new cars continues to decline putting consumers at a disadvantage from the start. Though dealers are slowly catching up, some have taken advantage of this unique market position and are using it to squeeze every last dollar out of desperate buyers by marking these prices up even higher.
Enter Markups.org, a website built specifically to compile data on dealerships and determine who is marking vehicles up over MSRP and by how much. Users can search by location, brand, or keywords to find dealers or vehicles in their area and compare the MSRP markup. The page started simply as a Google Doc in 2021 to gather data on Toyota 4Runner and Tundra sales. Gradually, it grew into collecting data manually on various other competitor trucks in the market. Now, Markups.org uses various web crawlers to gather public data on dealer activity. This means if you happen to be in the market for a new Ford Super Duty in Chapel Hills, Colorado, you’ll know that a particular dealer is asking $30K over the dealer recommended pricing. For shame.
Save yourself a headache (and a few bucks) and check out Markups.org before you head to the dealer. You can thank us later.
