I WAS WRONG, The Car Market Is WAY WORSE Than I Thought
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I WAS WRONG, The Car Market Is WAY WORSE Than I Thought
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
And make sure you don't forget to LIKE, SHARE AND SUBSCRIBE FOR MORE!!
*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices
An entry-level strip down Ford F-150 with a V6 2 wheel drive single cab $53,000 at a local in southeast Wisconsin... they are completely out of their damn Minds !
I live in Eau Claire. These TH-cam folks can ramble on all they want. No sweet deals in this part of the world.
@@foodpedlarofficial2019Well I went to buy a car a year ago and the dealer practically begged me to buy from them. At the end they offered me $3k off the MSRP plus all the optional equipment they installed for free. I still didn't buy because they didn't have the color ai wanted.
You can get a 4x4 V8 f250 for less than that and no doubt the F250 cost more to build.. but not everyone wants/needs a 3/4 ton truck and the bad gas millage that comes with it..
@@foodpedlarofficial2019 western europe here it's the same it's worst even I went 1,2,3,4 times to a dealership they didn't care and even less for a tradein which is a perfectly fine sportscar in great condition i can wait 2025 for more competition in the segment I want i guess Subaru wasn't as smug but their current e-boxer that I don't think you have in the US is trash it's the slowest engine in the market and it pollutes more than my 350hp rally car for half the hp >
@@jonathantaylor6926 yeah you can get one that's a 2022 that's been sitting on the lot for over 2 years I saw plenty of those on two different car lots.. 2025 models come out in October or late September you have cars that have been sitting on a lot from anywhere from 12:00 to 26 months that have done nothing but right away that's the deals I saw
The problem is, I can't impress strangers in traffic with a $2500 car. I can't impress my neighbors. I can't impress my relatives. I can't impress my buds. So I need a $105K Ford Black Mamba Big Dick Edition to show them who's boss. I guess I'm stuck with my $1800/mo payment ... plus insurance, fuel, and maintenance.
Ironically, nobody is impressed by $85K trucks either.
Impressing other people is not a problem, it is vanity. People are consumed with what others think rather than what they know to be true: it does not matter what others think.
I show everyone who is boss with my 25 year old car. Cheap on insurance, cheap on gas, easy to repair. If the engine or transmission goes out, it is cheaper to throw a new one in than buy a new car. I was going to buy 2 used Jeeps the other day, but the dealer did not respect my time. I drove two hours back home, thought about the money I saved and realized I best start on building my next vehicle from the ground up. Because I can and it is cheaper than buying a rusty used one will be the answer when it is done.
Good thing idgaf about impressing people. Thats why I have all old sedans and 1 super old truck. I haven't bought a car for 10 years now and don't plan to. Specially not a stupid ass truck for the price of a house.
I drive a 12 year old, paid off truck. I wear clothes from the clearance section at Walmart and sunglasses from Dollar Tree. I look pretty broke compared to the average person, yet I have $50K in savings. I don’t care what anyone thinks, I know I’m financially secure.
Prices are still 30-40k overpriced. Let them sit!
Oh they will. I’ve seen fields of cars
i am still wondering how this plays out. seems like a slow grind down for stealerships and oem's.
@@vibeworldmeta me too. I love it. prices shot up 30k during the pandemic.
The average person can't afford a $1000 car payment and all the carmakers are only making overpriced luxury models, even Chrysler and Nissan, which is why they can't sell anything.
I would pay that for a lambo but a base f150 come on lmao
@@robertromero8094a Lambo for a rack 😂 come on my guy. You looking at 5-10k a month for a lambo
Car companies still OFFER the cheaper base models, yet dealers do not EVER have them on the lots, so you have to special order them and and you cannot get any deals on them...
I can afford $1000 car payments. I was paying $3k/mo on a 22 rav4 until it was paid off, but you are right people like me are not the common buyer.
Someone is rigging the Car Companies to go bankrupt and another bailout by the taxpayers! The average person can’t afford these high car notes so someone has decided that the last bailout of taxpayers money was so good that they want another slice!
Anyone who buys a new, expensive car beyond their means only does it to impress others or is crazy. I have a beater and no car payment. Don't care what people think of my car.
my neighbor. i think he leases, but still swaps cars every 6 months, and the last 2 cars he got he threw on new exhausts systems - on NEW cars. these are NEW cars, BMWs. The only thing I can think of is his girlfriend is funding her kids with alimony, and they both work for the gov, and they moved here from CA where they prolly sold a house for millions. what I dont get is why they moved next to me, in a crappy 35 yo subdivision, instead of up on the mountain where 'rich' people live.
I used to have this mentality, but I genuinely just like cars. I used to have a mazda cx5 which wasn't bad but now I have a bmw x3 and I feel excited to drive it. I don't have alot of people close to me so I don't really care about impressing someone, but I just like that the car looks nice, rides smoothly and is quiet. I do have 40k in savings though so it's not like I'm struggling to pay it, but it is a little above my means, yet nevertheless still worth it imo.
Not true
Right on. Point A to point B nothing else
@@alb0zfinestif you have enough to pay it off you are not too bad off. It's your money. I did new cars often for 9 years. I have been happier with my older cars than my new ones. Hopefully you have not had a lot of negative equity to roll into your purchases. I DID.
I'm 74 years old and have forced myself to pay cash for all my cars since my first used 1962 VW that I bought in 1969 for $500. I think you are seeing what happens when people stupidly borrow more than they can afford.
I remember buying a 1970 super bee in 1981 for 300 $
Just think what that's worth today.
My post elsewhere in these comments are about a decent 2004 Nissan Quest I bought for $800. That was cash. I've never used a bank to purchase a vehicle. I have no credit score because I don't borrow money, and don't have payments. I bought my land with cash, and worked and scrimped to build a modest home, with only a minimum amount of outside help. It took me four years, but the bank doesn't own a single rafter.
I guess being self suffecient, and the sense of freedom that brings, isn't as important now as the way we saw it. There was a time when owing money was shameful.
But what are people supposed to do when nothing is affordable?
@@deltasyn7434 Stop voting for people that give all the breaks to the billionaire class? Seriously, American workers have done this to themselves. Other than that, your options are to get roommates, better education to move up the corporate ladder or learn to live more frugally. Because people watch TV and Internet creators they falsely think everyone in America lives a luxury lifestyle... well, they most certainly don't. It's all an illusion. The rich live large, the shrinking middle class live ok, and the rest of the peasants live paycheck to paycheck... that's the reality of America. It's a rich man's country and the rest of us just exist to make them more money!
Very smart decision. They now have 7 year loans because of the prices. Not for me, that's for sure!
Even if people could pick up a new car for 10,000 less, most people couldn't afford the insurance.
Try Erie Insurance. Erie doesn't advertise but they are #2 in customer satisfaction behind USAA.
USAA manipulates their information, they are not as beloved as they pretend
Or the gas...
my girlfriend worked for USAA for many years she still thinks highly of them.... I have geico and have never had an issue in the 20+years I have had them, just bought a new truck paid cash because i don't want to go into this crashed economy owing anything house - auto or cards! I am only paying $120 a month for full coverage, I didn't really even want full but I was pushed into it by family...
Agree insurance is getting to the point you need insurance to pay the insurance
I went from a paid off year old truck to a 20 year old single cab truck I bought for cash from a buddy. Paid off my wife's car loan with the money. I'm preparing for a financial collapse that I believe is inevitable.
yep ive been saving hardcore for it for years now and a few months into the collapse im buying a car and going all in nat the stock market.
You are out of your mind if you save useless dollars or invest in american stocks.
China is the next superpower invest there.
Man I think it’s pretty badass that you have your own dealership. And sell them for a good price. It’s just cool. What a life accomplishment. To be able to manage that business and upload good content on TH-cam as well.
Find his business and then search the reviews and BBB complaints
@@aircav28 Google reviews are at 4.3 stars. The kind of person who buys cash sub 5k cars is generally the kind of person who doesn't know anything about cars, doesn't maintain them, and love to complain when their beater doesn't run like new.
@@VTOffRoadAdventures google reviews are inflated, check all the other places and you will see including the BBB complaints.
@@aircav28 People only leave BBB reviews when they're unhappy. They are extremely biased and a bad place to get a general picture. Again these are buyers that are in a bad financial situation buying a vehicle with up to 200k miles. When it breaks they're going to blame the seller not the high mileage vehicle.
@@aircav28 you can’t expect every 5k car to run perfect after sold. The dealer can not predict an issue that arrives after 500 miles.
Drove by the busiest car wash in town today. Usually on a Friday its packed.
Not one car in line.
Nobody wanna be outside on hot days.
Wow that must mean everyone got their car repossessed.
Drive through Car was around me is $10 for a basic wash. I'll spray mine down, towel dry it and dress the tires for $3.
@@mph5896 $16-22 depending on the wash type up my way. That sort of discretionary spending is amongst the first to go!
What's the weather forecast? Rain over the weekend??
I started a used car lot in November of 2022. In 2023 I was paying way more than I thought these cars should cost but in order to get the decent cars I had to pay the money. I started selling cars $5k and under but slowly crept up to $10-11k cars. I did the dumbest thing of using a floor plan back in January-March of this year to fill my lot with nice cars in the $6-12k range. In April the bottom fell out and cars totally stopped moving. No one was buying anything.I struggled, sold a couple of personal cars (68 Charger, 70 GS455). I have finally moved almost all the higher priced cars and anything I had under $5 moved easily during this time and kept me afloat. I even sold my daily driver G5, I started driving this beat up 2001 Impala and then sold it. I agree 100%, cars $5k and under will drive the car business for the rest of the year and probably into next year. The auction prices have fallen 40-50% and now I can get under 100k cars for a realistic price. But I'm not buying because the stupid floor pan hamstringed me. I will never use it again. I'm in bad shape but I will survive to fight another day and this time I'll stick to my original game plan that worked so well the first year, cash only coming in, cash only going out!!!
Don't be scared, Brandon. Take your program national. It is sorely needed. You're doing a great job. Keep it up, Dawg.
50 grand for a truck that’s crazy
Sad that 50 grand is now the low end price wise. I got lucky in 2022 with a new Chevrolet Silverado Custom that the sticker price was $42k and I used my mother inlaws GM discount getting 8 grand off of that and also 2.9% financing and I plan to drive it till the wheels fall off.
@@webman1956 44k starting for a freaking ranger
@@LockedInWithLovebirdsdon’t fkn pay it. Why can’t ppl just drive older cars?
@@OhioVworld
They can.
I do. 2004 Ford Ranger with 223K miles. It's cheaper to fix it and keep it nice and clean than it is to buy something else.
@@LockedInWithLovebirds Yeah I never understood why the smaller trucks were almost the same price as a large one.
Everyone seems to focus on price patterns, but volume often gets overlooked. I've been learning it more and believe that mastering volume with price action really enhances technical analysis!
Could you share what you focus on in volume analysis?
Historical Volume, Price Movements, Support and Resistance, etc.. Pay attention to volume when a stock approaches key support or resistance levels. It is also crucial to understand market movements, i got some great help from my advisor on this, which really boosted my experience
Totally i agree with you pal! game changing strategy right there
How do one go about an advisor? I could use more insight
There are many out there. “ June Renae Matthysse”; for example is very experienced and consistent. I go with her
News flash people don’t have any money, you can say it we know it. In every crisis there are people who prosper while most others don’t that is you Brandon enjoy it while you can
That's what I was thinking, somehow people can still afford to buy even a used vehicle, when most are putting needed things like gas and food on credit cards!
And over 30% of this country is 2 months late on those payment, or house?
In a few months when this comes down to the next level, it's not going to end very well :(
Any recession is cleaning up excess risk taking and spending, a generally healthy if painful reset, allowing for future growth and prosperity.
This is nothing like the double digit, up to around 15% interest rates and inflation, 7% unemployment, when I launched my shoestring itty bitty contracting biz. We were stuck in "Stagflation" for a long time it seemed. The cure was those excruciating high interest rates and cutting taxes.
We all be po fokes
since 01/20/21. CB
'People don't have any money"? Part of the problem is there is too much money out here splashing around and people are spending like drunken sailors. Otherwise, prices would not be so inflated.
Your ideas are stupid. The Iraq wars and Ukraine wars and endless wars destroyed the American economy@@Mrbfgray
Working folks paying 70K for a car is hilariously bad. Take your bring home income. Take a third of it. Your car should be that in total purchase price.
On the high end.
I did that or better without even trying until my last vehicle. I bought a 2019 VW Atlas SEL Premium brand new in July 2019 for just under $50,000 out the door and I grossed $110K at the time. I refinanced it in 2020 with a 3.64% rate and it's almost paid off now and I gross $152K.
@@rrteppo - No. A better rule of thumb is 10% of your take home pay as a car payment.
@@AJSHOPE - My wife and I are fully retired. Our income is about $108k. We purchased a new 2022 Hyundai Tucson, and paid cash. We absolutely could have justified just about any car we wanted...I held clear title (no money owed) to a 2017 Subaru Outback 3.6R, that I traded in for $28.5k.
My first truck was in 1984. It was 9300. I made 23000+per yr so yeah that’s about right.
Greedy car dealerships are toast.
Not totally fair to call the dealers "greedy" when that was just the market... there were some "not greedy" dealers selling at or under MSRP and people were buying those cars and flipping them to carmax for a profit.
Greedy grocery stores are next, Comrade.
Who cares for car dealer? They can put all these cars in their ass
the dummies that signed on the dotted line are equally responsible
Wait until there are fewer of them.
Home prices have doubled and tripled in the past 10 years people cannot afford college. The whole system is rotted and needs to be changed. The politicians need to go. They aren't benefiting anyone other than themselves and they are destroying the economy with endless wars
People can go to college and have the government pay : ROTC. 😂
Its time all the dealers who gouged the public during covid to pay for their evil business practices.
No, it's called making hay while the sun shines. Don't tell me you haven't done that. What's happening now is that "excess profit" is what's keeping them afloat. Business 101.
@@RobertCrickmoreya but they immediately said they ran out of chips and had hidden lots filled with cars
@@RobertCrickmoreBusiness 101 is not ripping off your costumer base when times are tough. Many legacy manufacturers will go bankrupt in the next 5-10. It will be entertaining! 🍿 🍿 🍿
When you can't even afford McDonald's anymore, how can any new vehicle ?
Plus taxes.
Plus insurance.
And gas is getting close to 4.00$ a gallon again.
We are soooo f***ed !
Does not McDonald's have $5 deals now ? If that is too much, you cannot afford a car ! 🤣
@@BrianMeegan-k3e😂😂😂 they just did away with that 5$ deal...lol
Yup. FJB
Dealers going BK? BEST news I have heard in a LONG time 🎉🎉🎉🎉🎉
The real problem is the automakers abandoned the American consumer, and don't want to build cars for average people anymore. If they were putting out five door hatchbacks and 2 door compact pickups that started at under $20K they'd be selling as many as they can build. All the whining from automakers that "Oh we can't build cars like that because of government regulations" is just them trying to pass the buck for their own mismanagement.
the level of incompetence on all levels lately is astounding. From the govt on down to boeing. Is this what a dying empire looks like? Do they just not care or are we getting dumber?
Not true, nissan has new vehicles around $20k!!
@@FirstPencil1306 that’s the problem, it’s a Nissan
Chinese cars are cheap and despite all the FUD are well-made and reliable. GM just gave up trying to sell in China. seven years ago it was its biggest market. The problem US manufacturers now have is the US may be their only market left.
@@gregh7457 Yes, it is.
Even my multi millionaire clients(the smart ones ) won't pay new prices .
I bought a new "inventory" Model Y LR in late December for $6000 off list, $50K OTD . . . $4500 down payment, $10,500 gov't cash, $9000 trade-in on my LEAF, and 7 payments later I owe $22k on it. Not too bad for a car with a sub 5-second 0 - 60 : )
Car manufacturers are aggressively seeking to destroy the middle and lower class buyers as they overwhelm and squeeze dealerships with over priced high end vehicles. Floor plans are a trap! That’s why you’re doing so well, you’re not in debt up to your eyeballs like an indentured servant to manufacturers.
they can try to destroy us but the fed's are the ones doing the real damage with their free money and bailouts
Not true! Nissan has new vehicles at $20k!!
I am not sure it is that sinister. I think both oem's and stealerships took advantage of covid supply crimps and gouged their customers due to shortages. oems eliminated low end trims which also increased the prices. I like cqa's strategy - stick with selling 5k or lower cars and the people should stick with buying 5k or lower cars for now. when we are in rosier times, things can change.
“St Peter don’t you call me ’cause I can’t go - I owe my soul to the company store”
Brandon just proves that it pays to not be greedy!😁😁😁
You know you are TH-cam star when part of one of your clips is on a Hoovies Garage video. Great work and I hope it drives more people to your channel.
I saw that Too
What date was that Hoovies episode?
@@CarlosFernandes-vm6mh Just a few episodes ago
artificial scarcity created artificial prices and dried up demand, now that demand is back, prices need to adjust, not my fault a dealer is trying to sell an $80k truck $40k over MSRP to recoup their past losses. They need to adjust, not me.
I have a 2012 FJ Cruiser with 64K miles I bought new for under $30K. It's garaged, & never needed anything else other then scheduled maintenance. I recently replaced the battery for the first time. I'll never sell it because I really love the car. When I see today's prices I feel very fortunate indeed, to have something comfortable & reliable that gets me through the snow! Never thought it would turn out to also be a great investment.
I am SO jealous. I bought a 2014 FJ, paid $35k paid it off and then sold it 3 years later to pay for graduate school (sold it for what I paid - didn’t lose one dime). But damn what I’d give to have it back!
@@abvincent12 I truly hope something works out for you to get another one. They're amazing!
Toyota made a huge mistake not sticking with that model. It's unique!
Man U got a deal on that new price ! I paid 22,500 for a super clean 07 with no rust ever (fl car for life) 98k miles when I got it.
I got it in 2021 when cars where super high thi😢
What would it take to buy it today? Cash money! LOL Just kidding!
Prices will come down when the first "dominos" start to fall ... the first BIG dealer bankruptcies.
When a BIG dealer or chain goes bankrupt, the bankruptcy trustee will (sooner or later) liquidate the assets, which will include all the cars NOT repossessed by the lenders. Meanwhile, THOSE lenders have no use for those cars - they're NOT dealers. So the cars will go to auction, and sooner or later they will go CHEAP. When they go CHEAP, they will lower the value of the inventory for ALL the other dealers holding on to overpriced vehicles. Typical economic spiral until the problem corrects itself.
HOLD off buying if you can (except in the under-$5000 segment) because the next year should be a wild ride.
A few Nissan and CJRD dealers are already falling ... if CarMax or somebody like that goes, it will be a bloodbath.
Good analysis.Thanks.
Wouldn't hold my breath. I watched a documentary on this exact thing where new vehicles don't get sold. They go back to a yard and get scraped for parts for those models that did sell or to be otherwise recycled.
Your assessment is correct, but there will be enormous collusion to prevent the scenario you quite correctly. Describe. Everyone knows this is a scenario that benefits no one but the customer
If every car buyers will just refrain from buying a car for a whole month (not go on a buying spree later but space out the delayed purchase), dealerships will crumble in a matter of days.
You are in the sweet spot for the next 5-10 years. Congradulations and thanks for the economic lesson.
You are absolutely right about the used car market especially in Canada. I can tell you that here in Canada the dealers are still screwing us. I've been looking for a 2019 Honda Sub compact suv. At all the dealership I keep seeing finance price is one thing and cash price is another. This is what they say. Finance price = MSRP. Cash price = MSRP + $ 2,200. We have the right to refuse any cash offer. Cash = cheque, draft, money order Etc. What is even more ridiculous is that the prices for the same car is the same amount whether it's a 2019 or a 2022. So if a Honda HR-V is listed at, on average, $25,000 CAD for 2022, they are still asking $25,000. for the 2019. That's for a car with the same mileage and same options. I guess they haven't heard that cars aren't moving off dealer lots including used cars.
I will be waiting 'til next year. : )
See if you can get an open loan and then pay it off the next month.
Same thing in Wisconsin and Minnesota!! All this talk of the car market crumbling hasn't hit any of the dealers in this part of the USA.
I've noticed the deals are in the Large City's
@@Zzus321cities is a plural for city
@@bambinaforever1402 Sue my spell check
Dude, are you okay? the last 28 videos thumbnails say "I'm wrong,done, panic, -48% It's done, It's done, It's bad, Dont buy, pain is here, repo, panic sell, it's done, for sale, it's done, it's over, $2600, repo crisis, dumping, it's over, no sale, done, over-priced, done, -$18,000, it's done, repo-fest, it's over, it's over........" Do you actually answer car questions or just serve the same recycled material day after day?
Thats what I wanna know too.
I asked this exact same thing with no reply.
Next video title: "It's never been so over. Greedy dealerships have taken a handful of sleeping pills and have loaded guns in their mouths and are tying a noose and hanging it in the garage. THIS IS BAD! CLICK HERE"
@@davedaveson7211 lmao dude spot on!
😂😂 he's selling cars not youtube
Sorry hoss, anything that Chrysler makes should come with a monthly allowance from Chrysler of $500 to keep up with the repairs and maintenance that will be needed on it.
Semper Fi!
Thing I hate is auto makers are dropping entry level budget friendly cars.
I would have bought a new Spark if they still made them. Lost me as a new car customer.
@@marknwpa2746 sparks aren’t good vehicles.
That new union agreement is toast for the workers, they’ll all get fired soon.
I hope you do well. Your lot price range is what people NEED BADLY.
We used to call "car lots" like his "junkyards". Oh, how things have changed!
$500 for Sienna, plus $300 fee. Plus $200 shipping,… $1000 Sienna….. stop getting people excited lol
It's simple math 🤔 Ya drop like $5k on a beater. Drive it for a couple of years. Excluding maintenance/repairs costs it's like $200 per month 👍That number could go higher or lower depending upon repairs and resell value👌 Try and save the difference of what a car payment would be. Rinse and repeat 😁
I can remember back in the 90's buying a beater for 200 bucks, driving it for over two years and leaving it on the side of the road when it died! Didn't bother with oil changes, it changed itself about once a week! LOL!
Was in a pretty rough spot back then...
I'm still repairing my ❤'11 Impala even though it's rusting away as we text. Can't afford a $80,000 pickup.
Plus, you can save a crap ton on insurance.
Repairs are stupid expensive at shops around me. You gotta either do them yourself or find somebody to do it on the cheap.
@@soonerthebetter2361Exactly, since you own it you can get less expensive coverage.
Lucky’s channel provides a nice explanation as well on why dealers can’t lower prices…
It’s always a warning sign for the economy when extreme value businesses like our friend has here flourish while sticker retail feels the pain
1st rule of business - no good trying to sell something no-one is willing to buy
Thanks, Brandon, for a chance to look "behind the curtain" into a world the rest of us rarely see!
Let's see under his hat to see that bald melon.
Every dealership that sold way over msrp have every bit of it coming to them.
I have a 2012 Honda CRV (EXL with AWD) with 83,400 miles. I bought used back in 2018, with 37,000 miles, at a KIA stealership.
I've always bought used/ CPO. A part of me would like to upsize/upgrade to a Honda Passport or Ridgeline. Bigger vehicle, engine, cargo room, and passenger room. So far the Ridgeline is in the lead. Also a part of me, would like to buy brand new, at least once in my life.
However, my CRV is still running, paid off, and I loathe stealerships. So the other part of me, says save money, don't waste it, on a vehicle.
Only Smart People like You do the required research to stay ahead of the Crazy, This includes Not buying 1. 5liter turbo charged Honda's,We personally own four Honda's, Not one is equipped with a 1.5l turbo charged engine, And never will, Why I listen to Honda Dealer Tech's I'm a heavy Truck Diesel tech, I believe other Credible Tech's and follow sound advice, Not some paid for shills like JD power and others like it.
@@raymondreiff8170 thank you.
That's why I'm staying away from Toyota. They're putting turbo, and smaller engines; already in Tacoma, and soon 4runner. Typically I'm a Toyota/Honda person. Whereas, Honda Ridgeline and Passport are naturally aspirated V6. My old CRV is naturally aspirated 4-cyl.
I don't tow, and I don't off-road; however, I work maintenance for a university and hospital in Philadelphia; so I can't stay home, during inclement weather, which is why I look for AWD or 4x4.
Again half says, keep what I got; and other half says, look for something more comfortable, especially on trips to the Poconos mountains in Pennsylvania.
The Car Market has ALWAYS BEEN overpriced, a luxury, due to Greed.
The purpose of a car, is to go from Point A to B, and that's what matters.
Now that our economy is waning, it's easy to see, these overpriced cars are luxury's,.
Not Necessity's.
Its so sad that you cant do this in germany.
You are forced to give a minimum of 12 months warranty, doesnt matter how old or bad the car is. There are no cheap cars at the dealers here.
It's good to see you thriving and running through cars. At some point new and franchise dealers are going to have to accept they are deeply underwater in late model vehicles.
I think you're going to have a couple years like this so the industry can hit rock bottom and come back up again.
Now is a pretty good time to get into the car business if you're a cash dealer selling decent vehicles at this volume.
I Knew when I saw signs saying we will finance your repair bill we were screwed. !!!!!!!!
Not good. Scary.
I saw something similar at one of those smaller Walmarts that's really just a supermarket. They offer point-of-sale financing through Affirm. For your groceries. That worried me.
Right on. Their greed destroyed them.
I have a 2017 F150 STX I bought new for $27K. It currently has 44,000 miles and runs good. I change the oil regularly. 2.7 L has been good for me. Plenty of pep and reasonably decent fuel economy. I have bought one new set of tires due to age not wear and a new battery that was not holding a full charge. I keep it in a carport away from the weather so the exterior is good as well. It has rubber floors which I wanted and had difficulty finding in 2017. Not sure why. Very durable interior. I haul dogs in it mostly and need the rubber floor and less trim. It has a few features I've never used such as the trailer assist. Not even sure how to use it. I rarely tow anyhow. I got a bedliner installed at the dealer which keeps the bed in good shape as well. If I had to buy again, right now, I'd be hard pressed to match this one at the same price. Doubt If I could. Something is wrong with America. Really wrong. Folks buy too expensive and living way beyond their means. Kids don't have parents anymore because the adults are too busy working and acting like children themselves. I'd like to see some way to get people to behave with spending. You go into the market at dinner time the place is full of people with a couple of items for that nights meal. No forethought about economy. And the people's faces, they look like zombies. Smiles gone. Inner struggle of survival has gripped them. And folks were living this way when things were much better. Not sure where all this goes but hopeful that lessons will be learned and habits change.
Here's the truck cost issue ... 90% of folks that buy them, don't use them for what a truck is built for.
As the economy tightens we are heading into the Christmas season, and people will stop spending money for a car to buy gifts for family and friends. Maybe a few cars, but not many.
Yearly on December 1st I turn Jehovah, until January 1st.
You must sell hundreds of cars a year to be able to only make $500 or $1000 a car and keep the lights on.
That's what he said in one of his other videos. Usually they push about 40-50 cars a month. So about 480 cars a year on the low end. So everything he does has to be high volume.
It also helps that his dealership isn't a giga monolith with giant statues and a giant parking lot in the middle of the city like the big dealerships.
What is wrong with that
He don't have overhead and maybe three light bulbs in his place, all cash deals, he is swimming fast against riptide while everyone is drowning.
@@fibonaccisequence2891 Lean and clean he knows the customer and the market big boys have forgotten!
I'm a used car mechanic for a dealer. We were at 300 used sold a month. Last weekend only 7 sold. The cars we are flipping are high mileage. We use to sell only under 75k miles. The rest went to auction. Now they have to be really bad before we send to auction. Seems all the people with their gov money and flipping an old loan into another for a 10yr plan have dried up. We are still flipping the cars that body shops have been sitting on. Didn't get too many flood car. Mostly crashed and roughly put back together. Half ass body shop work and getting a pre auction pass that means nothing. Workin on one now. New front bumper cover that hides all the hackery behind it.
do you inspect the airbags when carfax says the airbags were deployed in previous accidents? Lots of counterfeit china airbags on fleebay for cheap and they're dangerous
Not disassembling cars if no codes, no warning lights and no physical wrongness visible.
People are strapped for cash , they want cost efficient vehicles for work trips. To and from work trips , clean & reliable transport.
It's not just the price of new or used vehicles. I need a set of tires & a battery for my car & can't believe those prices. Car insurance keeps going up let alone gas prices.
Insurance companies have never missed an opportunity to gouge people!
I am so glad I am living rent free in my mom's basement and can ride my bicycle to my job at McDonalds plus I get one free meal per shift and get the leftovers to feed my mom and dog. Who needs a car?
I can not beleve the shape those cars are in body wise. Up here in Ont. Canada they would be heaps of rust. We have tons and tons of salt poured on our roads in the winter and that sucks.
We need DIY cars that we assemble.
Sorta like the Top Gear episode where they get dropped off a crate full of parts to build a jeep-thingy. Drop a crate off in your driveway.
That would be interesting. Like modular cars. Only buy and add features you need. Adhering to safety regulations of course.
remember when sears used to give you a parts diagram when purchasing appliances? now they put a hood under the hood, and use torx bits and other preventative measures so that people cant work on there own shit. part of it is liability cuz most people cant figure out how to swing a hammer anymore, and the other part is we have a culture of throwing things away to buy the newer and better version. I love the vision, but capitalism wont allow it.
@@stevenk4920 Maybe there are more important things in life than safety. It doesn't matter how safe a car is if you can't afford to use it to get to work.
I cant believe how clean those cars look. Rust belt, cars are in the junk yard after 10-15 years.
I had to laugh when you said the vehicles are getting repossessed from dealers. There is a bit of irony there
The problem is cost of living crisis in America we have the same in Australia but slightly worse
In 2004 I was doing an MBA at U Tas. I bought a Holden VB Commodore (first year for it I think?) I paid about $1900 AUS and ran it for 6 months. I could have gotten a Skyline for about $4000 AUS. Only repair was a wiper motor from a wrecker's shop in Lonnie. (Manion's I think?) I sold it for $2200 AUS to a student from Victoria and came home to Canada. Nice little car. GMC straight six. Sort of an Opal body I think?
Who you vote for has results.
what you call CHEAP cars are really just INEXPENSIVE ... you are doing great things ... wish you were in MY TOWN ...
BLESS YOU ...
I have a fiend that works at a used car dealership, and his boss let me go to the auction a couple days ago in exchange for driving a car back (about 400 miles away)... He let me buy a 2021 Mitsubishi Mirage with only 26,000 miles on it... for his cost plus $500... so I got it for $8400 bucks (tax ect included).... great deal, still has 30,000 miles and 2 years left of factory warranty, and I even like the color! Not too shabby!
That’s awesome! I need to find me a friend like that!
I had a friend that did that for me.$500 over cost plus tax,title and tags. I watched the lot for 3 hours every day from Aug.thru Dec. While he coached hs football. Did it for 3 se as son. Sold 1 car in 3 years.. bought 4...at discount..all 3 to 4 years old at price I mentioned above.
You got a great deal. I test drove a 2017 Mirage manual and they still wanted 9k. Change that CVT fluid every 30k or so and you'll break 125k. The good thing about the 3clr motor is that its too weak to chew up the CVT.
Could you do a video on what you do to get auction cars ready for resale? Especially at that price point, $5k or less, that would be super interesting!
I was looking for a 2010 Honda Accord v6 coupe EXL , I found one on a big dealership and they wanted 10k!! The car had over 100k miles!! I just want to say be patient and wait until you found something on your budget, I found one same specs for 6k with a private seller
I've been car payment free for well over 30 years now. A big part of it is being able to choose good used cars in the last 5 years of their life, which appears t be a superpower of mine. Sure, I've gone to school events and been kinda envious of dudes with Flash-O brand new cars but I also don't have payments to make. Older cars are fine, but you have to remember that cars are NOT free and do require maintenance beyond oil and tires. Ball joints, steering arms, etc need to be replaced before they fail, and doing this keeps the car feeling fresh.
I just bought a running, driving, reasonably clean 2004 Quest. Biggest need is an exhaust, though the cats are still good, just bent and smashed pipe. I paid $800 for it, and have budgeted another $1,000 for repairs, cosmetics, and upgrades.
This will be the grocery hauler/yard sale ride for my wife. And unlikely to ever go over 50 miles from home. It's total cost will be less than 3 months of payments on a new car.
Seniors are mostly frozen out of the new car market. Social Security never keeps up with cost of living, so any savings we've built up is inexorably whittled away. It's a race between going broke and going to the funeral home.🤣
We are seeing the trend where dealers during the supposed chip crisis were making some cars 5000 to 15000 over MSRP on hard-to-get vehicles, and the used car market soared due to that shortage as well. What goes up with a trend such as this must come back down to normal economic levels, and now the dealers are hurting because the trend is reversing, and they should have known that this was coming. The people who will be hurting are people who are 10000 to 20000 in negative equity due to this market and buying during that time. This is why we are seeing repossessions at an all-time high as well...
The same is going to happen to mortgages. People paying over a million dollars here for a $300,000.00 house and now their mortgages are coming up at higher rates.
Low mileage Chevy Sparks, ended in 2022, are routinely selling for thousands over their new price. Who knew they were a growth investment.
At 2:08: "I sell cars that are $2500 and under."
I think he got his selling prices mixed up with his buying prices, there.
Car lots got addicted to gouging their customers for huge profits when the car market was tight, now they are extremely reluctant to face the reality that the bubble has burst and lower prices. Let them sit on their overpriced junk.
They will still make huge profits on certain more desirable cars. cars are always selling especially in the $5-$10k range if the car is clean people will buy it
Congrats on identifying such a growing market niche. Best wishes for continued success!!
👍
Met a dude that works at Nissan the other day. He was talking about how they have a lot of things just sitting on the lot
$8k USD OTD, at 60 months with 7.5% inrerest, $0 down, and 9.75% (cali) sales tax, that is equal to $160.30 a month.
Add in insurance for ~$150.00 month
Add gas ~$400.00 monthly. (Considering this is an economcial truck going to work 27 miles away )
Repair and maintenence fund that is to save for emergency, 300.
Totals is $1010.30 a month on just having a used car
They would need ~$4330.00 gross wages a month, or ~$51960 annually. Thats $24.98 a month to afford ~$1,010.30 in monthly car-related expenses as 1/3 of their take-home pay. For a USED truck!
If car was 17k OTD, same conditions prior, thats 29.45/hr or $61.2k annually. Already tough in most parts of north america.
If car was 50k OTD, same conditions prior, thats 48.26/hr or $100,386.48 annually. Laugable here anything over $50k in this economy.
The construction industry is on the brink-veteran contractors are aging out, and the next generation wants nothing to do with a field plagued by red tape and grueling demands.
Salaries? They're stagnant, losing ground against the relentless rise in food, housing, insurance, and fuel costs. Meanwhile, HOAs are busy policing aesthetics while workers limp to job sites in trucks falling apart, just to build homes priced far beyond reach.
Fear grips the workforce; they're hoarding every dollar, too scared to take on debt for a $17K used truck, knowing their savings will be devoured by inflation.
Billionaires, not farmers, are snapping up farmland, leaving it idle. That decade-old truck? It needs to be under $8.5K, and no new truck should dare cost more than $25K. And let's not even get started on the catastrophic state of accounting across companies worldwide-it's a downward spiral, a race to the bottom.
Another option: Bring the middle-class wages up to keep up with the sky-high prices the dealer ships want.
Middle class is buying cars they can't afford and whereas wages need to increase that won't change behavior.
That just keeps prices sky high. Let the market correct from the anomalous events of the last few years (unrealistically low interest rates, COVID supply chain issues, stupid FOMO consumerism)
Congrats Brandon on your booming sales. 😎😎👍👍 Continue success with your business 💪💪
Ram classic1500 (basic) is being discontinued. They can't sell the high end so they stop making the most affordable one? How does that make sense?
If the cheaper model is no longer available, then you'll just have to buy the more expensive model. That's the idea.
You, the buyer, are no longer viewed as the company's customer. The hedge funds, the stockholders... those are their real customers now.
@@biffwellington6144BINGO!!
Yet folks don't grasp what's going on.
I'm still looking at a new Rubicon. A dealer near me has one in particular that has an MSRP of $66,245. Yikes, right? Well, then with discounts on the site, it drops to $57,230. Nine grand off. Great, right? Nope. If the price doesn't start with a 4, I will continue to look with no real interest to buy. I'm not picky. White, the only no cost color is fine. I do want an automatic. That's it. Soft top only is fine. I need nothing else. I'll wait. If I have to wait 5 years, my money will stay in VTI and will grow while used 24's will drop in price.
It’s wild you’re thinking of paying high 40ss for a Rubicon, lol.
35K maybe.
Looks like new 2023's are still on the dealer lots.
Good on you for sticking to your guns on the dollar amount. It helps everyone when we all do that just a little.
I too wanted a Wrangler. Got one and traded it in 2 years later. Worst vehicle I have ever bought. Nothing mechanical wrong with it, never had an issue. Gas milage terrible, aerodynamics and highway speed terrible. Impractical. Removing doors and roof a pain. Rode like shit etc.
Prices are beginning to drop a lot in my area (Oklahoma City) Bought a new 2024 Grand Cherokee Laredo 4X4 this week. Sticker was $43,000. Got it for $31,000. Dealers are HURTING BAD and actually dropping prices a bunch. I know a GC Laredo isn't the vehicle you're looking for, but even the Rubicon's should be dropping in a BIG way, soon. I've never seen so many dealers begging and pleading for people to just come look at their stuff. During Covid, remember when lots were basically EMPTY ???? Now, they are crammed full of every kind of new vehicle imaginable. They either have to sell 'em, or eat 'em.
This dude looks just like Fred Durst in the early 2000s. I first seen him and I'm like, "I didn't know Limp Bizkit sold cars on the side"
😅
He does it all for the NOOKIE
"Slow grind down in used car prices" is what I want to hear.
Was seriously considering getting a used 2011 Subaru Outback with 70k miles for $12,000 cash. Might wait a few more months 🤔
Dropping a new engine in my 2009 F-250. I’m done paying interest on vehicles for 860 months.
Done paying interest on anything, Loans credit cards , auto loans.. stop giving any bank any interest… this is the way it has to be nowadays to survive , no unnecessary payments … Groceries now a car payment.. no room for a auto loan anymore… pay cash save and screw paying banks interest
Money velocity is slowing down, I have never borrowed money to buy a car, I drive a 2019 ford ranger wildtrak and just brought new Toyota hybrid CHR 2024 not released in US for my wife and our local roundabout.
Would love to buy but, I'm doing the next best thing. I'm having front and rear cross members put on my 2001 Honda Accord...
I just did $2k worth of front suspension ,breaks,ball bearings on my 2004 Ranger 3.0 L 5 speed...381000, miles..
Plan on getting it too 500k..unless one if us dies first.🤣🤣
That's great
great insight into what's happening in the economy, I was watching CNBC and report was forecasting 1 million less cars sold this year than last. . still a lot of cars, but the. pain just getting started
I like what you are doing by being honest and open with all of us about what is going on in our economy and the market. You have made a fantastic out of me. We need more honest people like you.
The collapse has to happen. The prices are crazy high. They are selling problematic vehicles that can spend months in the shop because they either cant get parts or they have no idea on how to fix them., the recalls are enormous. A 700+ credit score is 8.9% to finance.. I've decided to rebuild the drive train on my 2004 GMC Sierra and watch the shit show. Let the manufacturers' profits tank, the government will bail them out just like the housing collapse of 2008.
Our economy is changing!!! A lot of people voted for this . I don’t think people the people understood what they voted for.
We can only hope they don't vote for it again. We need a strong economy for everyone's sakes.
Nobody goes to the polls and votes for inflation bud 🤦🏽♂️
@@mate2nice Anyone who votes Democrat certainly does. Whether they know it or not, that is exactly what they are voting for.
@@mate2nice yes they did. Not to long ago the senate had a tied vote on the inflation act. Do you remember??? Kamala Harris voted to break the tie vote!! Do you remember!! During the last election the American people voted for these people to run our country.. Also do you remember when trump vetoed the last bill? REMEMBER every network work said trump is mentally unstable and racist and want old people to die.?? Anyway congress and the senate overruled trump and it passed. Ok, you can ignore what I’m saying. But take your paycheck and see how much you can buy and you will understand
The other day I was looking around Albuquerque and Santa Fe ay used cars. Car lots, dealers, Carmax etc and I can't believe HOW MUCH they want for used cars. I don't need to buy so too bad for them. If they want to sell cars they're going to have to drop prices or go under.
Just keeps getting better and better
I really REALLY like this format of video. These videos where you go around and say "dealers hurting" then show an auction are so confusing. Showing on the lot that you can get car X for 1500 now vs a few months ago were 3k really explains it better. love the channel btw
Make it while you can bro you're on point
Any amount near corvette money, why go for a regular truck when you can get a corvette
Dude, you have already said dealers are sending brand new cars to auction so they are really hurting. You will see a steady flow coming your way. Been in the car banking side for 27 years, trust me.
His videos seem to be a broken record. Same story every time.
@@BoomerBrown-jt5hy which only proves what he's saying. If only the LOWEST end cars are selling, then your economy is about to collapse. It's not only the car market, either. I get RE notices for 3 states and ALL homes are dropping prices across the board. It's only a matter of time until the debt crisis must be dealt with.
@@redhed9776 The federal reserve needs to drop interest rates - then it’ll slowly turn around. They will drop them in Sept. It’ll change 3-6 months later.
I rarely see an old car. When I was growing up, I'd see old stuff on the road, a mis-matched colored part like a white car with a black hood. I rarely ever see that. People LOVE their new vehicles and phones, and McDonald's still have lines around the buildings.
Unless the auto makers and the high roller dealers have an about face about what the consumer wants they are doomed. I just a video about buying a used car and the interest was 17% this sucks.
Interesting trend on car ownership in the US. In line with increasing repayment periods, keeping monthly repayments level at a time of high interest rates, the period of ownership of a new car has increased from an average of 52 months in 2006 to 79 months in 2016. The average age of cars on the road in the US is about 13 years old. Brandon is like an automobile undertaker and is likely to be the last link in the chain for most of the cars he sells, his customers owning them until they go to the great scrap/pick-a-part yard in the sky.
Dealers can't afford not to lower prices.
Never heard anyone call a jeep patriot a good car
All Salemans will
That Sienna is amazing!!! Here in Wisconsin that is so clean!! I have 3 of them that style as they are so Reliable. I have 326k on mine and it just keeps going. Great video!
My mom still drives her 1997 Sienna that she drove my younger sibs and me in, and I’m 42 now.
I love what you are doing. I have three expensive vehicles I paid cash for. But most people can't afford that. You are saving families!
those 70-80k+ trucks aren't built for "high" interest rate environments. I think the dealers aren't budging on prices because they are hoping the Federal Reserve lowers interest rates soon so their market will go back to how it was during the 0% days
It was appropriate that "high" interest rates. This is normal interest rates! Those $70k to $100k trucks are an artifact of free money.
@@External2737 Good term artifact of free money. Applies to many things.
@@marknwpa2746 Yea, the hangover of the free money is still hitting markets. Grocery prices, rent, houses, cars/trucks, and everything but wages.
@@External2737The feds planned this.
happy your business is doing so well, you deserved it