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- เผยแพร่เมื่อ 25 มิ.ย. 2024
- Car Market Is A DISASTER And CARMAX Is SCREAMING IT!
In this video I go to a Carmax lot and show you how much they are asking for their cars.
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 - ยานยนต์และพาหนะ
Let the whole CAR MARKET BUUUUUUUUUUURRRRRRRNNNNNN!!!!!! Until cars are AFFORDABLE again, these problems are going to continue.
Agreed. They did it to themselves.
The longer it burns the higher the prices.
Car makers need to let you order the car directly from the factory. Like TESLA.
But how? American need cars to work and run errands. Must buy no matter what
@@kemangraya2382Most people that are buying new vehicles are buying because they want a new vehicle, not because they need a new vehicle.
51k for a used truck with over 50k miles on it?!!! No thanks, I'll walk. No wonder our young people don't want to work. They can't even afford a used vehicle.
There's lots of truth to that. Even $20/hour can't support a car payment, upkeep and insurance.
I googled it, msrp was $51k 😂
nice that people are seeing this reality. it really is jacked up how expensive everything truly is.😞
My job is only giving us an 80 cent raise this year, but I won't see it cause of everything costing more. It's a joke.
Ya that’s why they don’t want to work…..😂
220k on my Cruze I paid a grand for when it had 150k. Just completed a 3200 mile trip. I do all my own maintenance and repairs.
This is the way
This is the way
Nice man!
I laughed so loud at that blue toyota truck price
Look like a Clown 🤡 driving that POS around 😂
50k miles 😂 oh please $50k joke!
Unless its a one of a kind vehicle, 21K (23K to 24K with tax) is way too much for any car with a 100k plus miles on it.
It's sad when you can make $80k a year and still can't afford a used 3 year old truck with 50,000mi on it.
First time in my life, I cant afford new truck, Had many over the years, them days are over,
Exactly. 16% of my income goes to retirement. I put another 100 a month in mutual fund for my boys. Mortgage utilities cell phones food kids expenses health insurance home and auto insurance. I have no auto or credit card debt and still can't afford even a used truck and I make 90k
@@dustincollins16 Word...
It's like I tell my wife:
We have money,we dont have money,we have money,we dont have money..
Rinse... Repeat....
@@joegausch I could afford a truck payment if I stopped putting 16% of my income in retirement and kids savings. However I value not being broke when I'm 70 and retired more
Gotta just contijue living below our means. $20k SUV. Telluride
My credit is 800+ and I've been in the market for a new car for a little while now. Seeing most places only offering 7-9% for great credit is a massive turnoff, so I'll just keep my money for now and wait it out.
Sad car world we live in today
I went to a new car dealership and ALL vehicles (new & used) have an addendum sticker adding $2,495 value package. I’m about to do a video on it.
If you're going to like your own post... dont be the first. Pro tip.
@@ehole593 I didn’t. But I will now!
@@ehole593does it matter?
Crooks
Do it! Expose these scumbags doing anything to scam a few more bucks from an honest person.
Used cars are still more expensive than new cars. I am depressed.
Not at Brandon's place. :)
You better stop being depressed and figure out a new way to make more money! Depression isn't helping you!
Not so. New car list price might be lower. But after adding so many fees, the final price of a new car is higher than the final price of a used car for the same model.
@@artfquinn Used car interest rates are insane and it's definitely not a good deal to do most used cars unless you pay them off quickly
Used car interest rates are high. 6.5% with an 800 credit score.
I went to that very same Carmax you're at and I was looking at a used Equinox for my mom. They had a 2022 that had 40,000 miles and they were asking $35k. We passed on it and went to a Chevy dealer for on that was $15k less with 30,000 miles.
51k for a truck is NOT a deal. I'll Believe it when I start seeing that same truck at 30k.
>50k miles and 5 years old? $25k is a more adequate price.
@@SomeUserNameBlahBlah ok
9% with good credit. SMH
Insane!
@@MajorBased Just checked my credit union and it's 5.95% for used cars.
Which is crazy since most Americans don't have 750+ credit score. So most people are getting near 10% interest rates 😂
They can kiss....
Crazy
2019 I bought a 2018 ram 1500 with 7000 miles, for only 27k at Camax, prices have definitely changed.
Too bad! Let these car dealers feel it!
F Carmax. They tried to rip me off when I was selling my car. Sold it privately quickly and easily. I'll never deal with Carmax again.
Good for you! I don't wish bad things for anyone, but Carmax going tits up will be sweet.
This is the way.
Deep clean the car and take lots of great photos.
Bought out my 2019 Civic lease at $11K in 2022 and sold it privately at $19.7K in 12 hours.
Same! FCM!!
Carmax prices are RIDICULOUS ASF
Mr. Smartass here. The Porsche price actually averaged out to about $1 per mile, not $1,000 per mile.
the tundra I still drive was used at $12,000 in 2018. I still drive it. I can waite a long time for prices to come down.
You go👍👍
My dad bought his 06 Silverado for $8k Canadian in 2010 with 100,000 kms on it. I just saw a dealer selling an 06 Silverado with 300,000km for $10k. Goes to show how much the dollar has been devaluated.
No Haggle pricing is such a joke.
No haggle price means don't bother trying yo negotiate the price with that dealership.
Stealership
At Carmax, the best way to buy a car is online. There are some deals to be found there but you have to look for them. We've bought 4 or 5 cars from them and were never unhappy with what we've paid. I bought my current truck there. I've had it for 11 years. Earlier this year I was offered almost as much money as I paid for the truck in cash. I've driven the truck 120,000 miles and if I had taken the guy's offer, it would only have cost me $4,000.
Of course it is. They wouldn’t do it if it favored the buyer. It’s collusion amongst dealers.
Corporations are doing to the auto market what they did to the housing market. By buying up all the inventory they feel they can ask the prices they want and they have the financial capital to sit on inventory until it sells. When only a few companies control a large portion of the inventory, they’re colluding to increase prices and driving prices across the industry up.
Not only does CarMax have their own financing, but they can ship cars to where ever they will sell best. People hate going into a regular car dealership, I never knew how much they hate it till the last 3 years. When I bought my brand new Ford Maverick XL a year ago for $23,400 out the door, and then took it to CarMax who bought it for $32,000! - I thought they were crazy. They sold it the next week.
Ive always heard sell to carmax, never buy from them
Damn. Good for you!
@edew9180 Thats sound advice.
the carmax here is great. the honda dealers were refusing type r test drives so they shipped a random one in so i could drive it. Loved it and gave the salesman what i wanted price and (had to be white). Like 6 months later they called me and said they would ship it for free if i wanted to buy the car. 30 day return policy..... 120k 6 year warranty also lol.
This weekend I sold a 2016 Chevy Impala low miles to Carmax for $16,000. They have it listed for $21,000. I have no idea who would pay $21k for a 2016 Impala.
There's an arse for every seat!
Your Impala must have very few miles for 16 grand! 😂
I appreciate your videos. You know your car market stuff. Thank you for your information.
You continue to put out good car information to be used for learning about the car market. Keep up the good work.
Always check with your car insurance agent when you are car shopping. That affects your monthly costs also. Some vehicles are a lot higher to insure.
First time in my life I cant afford a new truck, Them days are over,
…or even a USED truck !
Good, too many people who don’t need trucks keep buying trucks to compensate for their tiny penis and that affects the sale price for those that actually need the truck.
New and used car prices too damn high
So glad i bought my late model used right before covid began. Loan is almost done now , carmax sent out an email they now offering to split their payments biweekly which tells me they are desperate to prevent defaults.
Don't forget, with EV's the MOST IMPORTANT thing to know about buying one used is Battery Health and remaining Charging Range because those deteriorate over time and with misuse. But there is no way to verify that quickly and easily at time of purchase. Until there is transparency around the health of the vehicle you are buying, customers are heavily incentivized to buy new or demand a deep discount to account for that risk. You could literally be buying half the car you think you are in terms of usability.
I watch this channel to rationalize my decision to keep driving my 10' Civic until the wheels fall off.
I just took my immaculate 2010 Volvo in for new shocks and struts, plus a brake job. It's a few thousand well spent vs buying a new or used vehicle right now.
Same here on my '16 Mazda 3...
07 Corolla here, 130k miles, taking it in for brakes and AC next week. I will drive this and pay for repairs for as long, and maybe longer, than is advisable because of current prices, rates, and simple depreciation on even "new" used vehicles. Squeeze as much as you can out of your paid off vehicles, save money, buy you next car with cash on the barrel head (but don't let them know you intend to do that) and have true power over these knuckleheads by walking at any point you sniff being screwed over. A paid off car is the best car.
I am surprised that the manager of the carmax doesn't come out and tell CQA to take a hike.
Almost sold my car to Carmax today but went with another dealer who offered more. No more car payment.
Brandon, thanks for providing insight and guidance.
I'm in the UK .. you offer some very interesting real time updates .. fascinating videos and they are appreciated .. all expected to happen in the UK too .. and EVs are just NOT selling in the UK (despite some attempting to argue otherwise)
Seems to me to buy a new car with those inflated prices is a nightmare.
Not sure if it’s just for certain vehicles but I just had a completely different experience with CarMax than the comments and video is saying. Was in the market for a Highlander hybrid. Searching everywhere these vehicles are marked up vs what kbb says. I looked for weeks and on carmax would see them pop up and sell before I had even come close to deciding to buy it. But they had more in stock than any other dealer or Carvana by a mile. So I knew it was my best shot but kept looking everywhere at the same time. Eventually found one that checked all the boxes and for a better price than anywhere else I could find. Carmax also offered $6k more for my trade in than my local Toyota dealer. As well as I got 5.99% apr 60 months. Vehicle price was $42k 21’ Highlander limited with 26k miles. I saw literally probably 100 of these vehicles sell in the span of 2-3 weeks. Overall I’m happy with the entire experience and the deal I got. And it’s vastly different than what the video portrays.
Sir, you got me, i fell in love with that bright blue truck. If i could afford it or has a decent price, and works well, of course, i would buy it.
The good thing with CarMax is the vehicles are all online. So if you don’t like the price, flip left. Better than seeing an ad from a regular dealer, and it being a totally different price when you get there.
I found my last car online in another state, it was a good price for a low mileage car, even with shipping.
Carmax is where you go when you enjoy getting ripped off
no messing around, right to the ripping you off price.
You can use carvana if you enjoy getting ripped off from the comfort of your own home.
They tell you with a straight face too
Buy the car you can pay with your own money, not the one you can only afford by lending
Brandon, spoiler alert! The only thing worse than the new vehicle BEV market is the used BEV market!
$550,000 payment on that Cherokee is pretty high, even in this market. 😂
I always laugh at the idiots who are buying Jeeps at $90,000-$100,000.
Where I live at dealerships have $2200.00 addendum. But I don't plan on buying a car for a couple of years.
Sold my car to carmax two days ago because they offered me INSANE money; at least 6 grand more than EVERYONE else.
I’d like you to do videos on what Hondas, Toyotas, Kia/Hyundai are doing in terms of price with their cars and trucks. I predict that compacts and subcompact vehicles will come back in a big way in this depressed economy
Millenials will go to CarMax and buy without even checking the new car lots. They are so afraid of confrontation.
Who raised them? Blame the boomers. They couldn't handle a truck without cushy seats and bloated the truck market with sissy accessorized trucks.
If the dealer can get me in and out in less than 2 hours like CarMax can, I'd gladly go to the dealership. For some reason, buying a car at the dealer requires 8+ hours. We don't have the patience
@@sjohn5779 I've never had a problem. You tell the salesperson early on "don't yank my chain, if you do, I walk". Once you've decided it takes 10 minutes to settle on a price. Once you've signed the salesorder you tell them that there will be no add-ons once you get to the F&I office. I've never spent more than two hours after I've decided which car I want to buy.
No dealer is going down. The car prices are still super high. 😢
That Car Max lot looks like a big parking lot, only without any cars ever moving!
Yikes, how can they still be in business?
There's a Maverick XL 2022 hybrid with 129K miles in Carmax Tampa FL for $22K, that's what the MSRP was in 2022 for that truck! Your 4Runner MSRP for $49K with destination fees in 2024! Ridiculous!
Very nice video what happened to the cars that was missing chips before or during the pandemic?
Carmax didn't set the market for these overpriced cars. They are in a pinch like everyone else. The manufacturers and most new car dealers are to blame.
I was typing this same thing until I saw yours.
If I had one of those 2019 to 2021 Toyota Thundras with that 5.7 in it, I would not let it go.
I don't know where you are but there is NO WAY a car dealer could leave their cars unlocked around here. It would be junkie central. Anyway, appreciate the boots on the ground reporting, subscribed!
Fleet sales are rampant. Rented a car in Louisiana recently, 4runner had 3 miles on it. Rented again a month later when I was back got a Pathfinder with 5 milea on it.
Ford dealer near me has 7 mach-e's on their lot. When you go to their web page they have 8 or so listed as in transit. They've been there for at least 3 months listed this way plus the 7 on lot up front with 0 percent financing. Nobody wants them, plus their resale value will be in toilet. Must be time to give the C-suite executives a giant bonus just before the government bail-out... f-n Ford jerks
"just before the government bail-out..." Uh .. Ford was the only one of the big-three which did *not* receive Uncle Sam's bucks.
EVs aren't the problem.
Price gouging on "Cars" is the problem
Ford did not ask for or get a government bailout.. Mach E's are market specific, one local Ford dealer ( rural area) had 13 in stock and another Ford store ( urban) 27 miles away is moving them at a fast pace.
@@M0viLoverit’s their time this go around 😂
Beautiful Wife & I stopped by a Carmax this afternoon because we needed a good laugh. As expected the pricing was hilarious. We found interiors that smelled nasty. Not good at all. Ugg
All this stuff is outta control, increase wages 100k then maybe we could buy used cars.
They are putting off price drops hoping the market turns around. The thing is, its not going anywhere but down and whichever brand/mfg bends first will end up the winner in this "correction"
Had some fuzzy math in this one.
Their day of reckoning is coming…
no it's not, the demand is to great, this guy talking is full of shit
When? Been hearing this story for two years now.
I totally agree with you. The only people who buy at CarMax are people with very bad credit.
I disagree, people who buy in carmax dosent want to get screwed by cardealerships long wait and add on prices at their place
Not so. You are thinking of drive time
It's as if every automaker has set its sights on the upscale market. They used to produce at least a few reasonably priced vehicles per maker but not anymore. Look what the MSRPs have done to the used cars market. It's starting to feel a little bit like a conspiracy. Is it possible?
Maybe the U.S. will be like Cuba with a bunch of 50+ year old cars on the road soon.
@davids5048 When the economy is strong and people have money, those crap boxes sit on the lot and people buy the $$$$$$ vehicles.
@@SmittyAZexactly. But we’re constantly told how “robust” the current economy is 😂😂😂😂😂😂
I don't see how Carmax stock prices are actually rising. I had a 1-week $70 put position on it and watched it rise over the last few days. I know the chickens have to come home to roost soon!
And that price doesn’t include tax, title $599 processing fee, CORRECT
Gotta know when to buy ...Oct 2020 was an excellent time ...New 2020 F350 Crew Cab Diesel for under 50 K
I bought a 2018 Mustang eco boost premium at my local car max for 28k in September of 2021. I had my fun with it for two years and sold it back to them for 22k. They relisted the car for the same price from two years earlier. And it sold quickly!
Hey I finance a 2019 convertible mustang the engine blew I still owe money on is it a good idea idea to trade or sell it back to a ford dealership
Carmax fanboys will tell you carmax is fine. Nothing to see here.
I've been searching for a new car and carmax is a joke right now lol. No point in even looking at them unless you want to pay twixe what the car ia going for right now lol
I feel dyslexic looking at these prices tags. It's like I'm just staring at figures that I have no understanding or relation with. They might as well just put it in hieroglyphics, it's just a wash to read.
I have a bought and paid for Rolls Canardly - it rolls down one hill and can 'ardly get up the next one...
Nice!
The car will never be affordable again. The new $32k MSRP is the old $25k MSRP; The new $52k MSRP is the old $40k MSRP.
Thats what pisses me off about the trade war, even taking into account lower wages people in China are paying so much less for cars. I want the option for a BYD just to force GM and Ford to not gouge us
@@stopstopp US gov will not allow BYD as that could crash the auto industry and put GM and Ford out of business; the Gov will tend to bail out GM and Ford when they go under even though no one really want $100k 10 MPG supercharged electric trucks
@@danny1103how do you supercharge an eclectic truck?
@@stopstopp LOL its called INFLATION caused by the US government printing money. Its not greed
@@WickedSlammy and yet non American cars can resist inflation, weird how that works when our companies are coddled
Ford Maverick sold with 3 recalls !
Carmax SUPER expensive
And yet Carmax stock price seems resilient, with many analysts rating it as a hold. The company has implemented a lot of cost cutting measures behind the scenes. Carmax can also buy back its own shares as needed to fluff up share price and keep stock holders happy. The situation on their car lots looks dire in every video, but stock price and delivering shareholder value is their priority. Whatever they're doing appears to be working for now.
Sounds like the car dealers got a secret memo: Hold firm on prices and push EV's and will bail you out when the market crashes. Because it's not believable that not one dealer or manufacturer has tried capturing a part of the market buy under cutting with price like Brandon
Went to a Tesla showroom to figure out which one I was gonna lease in a couple months. Liked the X but it was too much, even on a lease. Seen all these videos on EV prices cratering and I can assure you Model X’s and Y’s for that matter in the mid-Atlantic are NOT couch cushion money. None I saw with low mileage and the prices were 35-50K with one having 41,000 miles asking 64K. WT…
Brandon, Carmax made $152 million in the 3 months ending in May. And they beat expectations.
Screw carmax their prices have always been insane. They need to be taken down several notches back to reality and then some.
I bought a 2018 Tundra 2 months ago with 40k miles for 38. Off Road TRD Limited Super cab with upgraded 20" console and 10 speaker thumping stereo. 5.7 v8
FYI...2023 Maverick XL was $24,000 orig sticker. That's what I paid new in 2023.
Again this is poor management. The results speak for themselves. Car Max should have had constant reviewers watching trends and know
to control inventory. The company was asleep at the switch . This is the price of poor management.
And I don’t know where you are, but here in Florida all the car dealers are adding$3,000 on to all new cars calling it (DEALERS NAME) CARE and they refuse to take it off, you have to buy it.
Buy a Tesla instead. No dealer mark up.
Yea, buy a Tesla if they won't discount. Use online sales. Go out of the area. Inventory, in particular at Stellantis (RAM, Dodge, Jeep, Chrysler).
Because everyone is still moving here to Florida. Its a supply and demand issue.
@@jaws10278 BS.
Widen your search area. I'm in MA, and I bought my used car late last year at a dealer in SW CT, 2 hours away.
Laughed when carmax bought my car back for 5k more than anyone else was offering, totally saw this one happening.
They have refused to adapt, or at least fast enough to remain competitive. They're sitting on thousands of vehicles they overpaid for and aren't moving it out fast enough
The CarMax here in Denton Tx is absolutely packed with inventory. I can’t imagine how upside down this company is
CarMax is not upside down. So far in 2024, $300 million in net revenue. That’s net profit. Yes, that’s 50% less then 2 years ago, but it’s still paying all their bills, payroll and having $600 million annually left over in the bank. Going very strong compared to most of the competitors in the game.
As I am watching your video I was also checking the Tesla website and I can buy the brand new Y for a lot cheaper with the tax credit.
Everyone that wanted an EV, has one already!
Great point.
And they’re all fools
I’d get one for an urban beater car, used of course. Automatic 60% discount over new.
I’ve get free electricity at night here in Texas, which means the fuel for my Tesla is free… but sure, I’m a fool.
$31k for a base model Maverick used. They are screwed, nobody with a brain would buy at those prices.
That’s about $7-10K too high 😂
6:53 I see the correction on the video, but still laughed at the notion of a $500,000 monthly payment for a $21,000 vehicle.
I'm always shocked at how many new cars people buy every year.
Brandon,
That is a big lot you are on. I do not see anyone walking the lot looking at vehicles..
Nice thing about carmax, the price is the price, no dealer drama, maybe high? Maybe close to market? they have a 24hr hr test drive and a 30 day no questions asked return policy. I have friends that bought cars there and are happy. Cars these days are very expensive, even used Junkers.. Ive decided to buy new because the used are almost the same price. If you can help it, Dont buy what you cant afford.
My neighbor has a new Maverick. They seem Okay but, Extremely cheaply made. No way it’s worth almost $40K what he paid.
Their Disposable
Brandon getting above his raisen' looking at Porsha's.
You can get a brand new 2024 Model Y Performance in white for $46,630 + tax (after the $7500 tax credit) from Tesla.
$552K monthly payment :P
I agree. That is a bit much for a monthly payment. Some people put their mouth and brain on auto-pilot when they have a camera in their hand.
Instead of listing bad credit, it is now challenged credit. Welcome to 1984.
they don't finance those with middle to lower tier bad. They finance upper bad and above. at least that is my experience. ( 580 and up where 600 is lower FAIR credit )
People will scream 1984 over the dumbest things 😂
I see better deals on used vehicles on factory dealer websites compared to Carmax.
The no haggle dealer near me prices used Mavericks for more than msrp.
My dealer called me yesterday trying to get me in to buy a new Camry after they emailed me an offer. Camry LE for $32K. My 2018 cost $25K. I'm waiting for an offer at a discount to MSRP and no "market adjustments". I have 2 Camrys and they're running fine so I'll just keep driving them until they can give me a good deal. Camrys are in very short supply right now so it's curious that they are bugging me a few times a month to buy one. I'm a cash buyer so they know that I'll make a deal if I'm motivated.
Those interest rates are insane.