GREATEST PROBLEM In The Car Market
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- เผยแพร่เมื่อ 9 มิ.ย. 2024
- The NEXT NAIL IN THE COFFIN For Car Market
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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
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Last year was tough, yet I earned $100,000 pre-tax as the primary earner and household head. It's a solid start, but I'm focused on future enhancements. With two auto loans, I'm seeking solutions to offset them without resorting to costlier refinancing in the long term.
You might want to consider starting with a different approach, like the snowball method. Focus on one loan, usually the smallest one, and direct all your resources to pay it off while maintaining payments on the others.
i agree with the comment above, Another option is to work with a money coach or investment advisor. While an investmentplannner focuses on the long term, a money coach can help pay off all your debts, maximize cash flow, and create systems for proactive money management.
@malika you sound like you have worked with an advsor . how is the experience like?
yes that correct. I've been consulting-w/ monicamary strigle stock broker, and it's been transformative. Making 752k in the pst 8months frm barely 150k gives me high hopes for the coming months and 2025 with the way the strategies hve worked so far
That's impressive! how can I reach this monica? I've tried finding a good adviser around me, but it seems impossible without exorbitant fees. Can you share her fee structure as well?
When the retail prices drop, I will be buying two used cars but I'm in no hurry. My old cars run great and I can work on them.
The most valuable thing I have is basic Mechanics knowledge, and TH-cam mechanics videos to show how to diagnose and install parts.
I gonna buy 4
Good plan. I am also waiting. People are just too dumb atm.
@@SureShot_2 fleet insurance absolutely.
Being able to work on most of your own break downs is almost a super power these days. I consider myself to be very lucky to have been taught a whole lot by my dad.
I would purchase a brand new vehicle today, but the dealers are ridiculous with their add on fees. Things like a $1000 fee for paying cash.....NOPE. How about $750 for locking lug nuts? ....NOPE! Sorry dealers get your shit together or go out of business!
I'd say know what your ultimate price on the rim and out the door. Start low and work your way up to your max. If it's acceptable to the seller, let them shuffle and allocate their fees within the agreed upon price.
They don’t want cash because they make more money from the finance
@@ianmowbray3284 that's correct. And if you don't want to play that, move on. No loss for a cash purchaser...
So nice that he took the time to speak with you !! What a nice man!!
Agree...
They are desperate and need this channel
Until one can get a V8 Mustang, Challanger or a Camaro for $30k like it used to be, no one will be buying overpriced product.
Preach
Or a truck for under 40k sadly these all still sell because of lack of financial literacy in the general public
Crazy how a base model mustang start at 42-44k
Prices are too high but inflation is still a reality. That Mustang GT that was $30K back in 2005 would be the equivalent of nearly $50K in today's dollars.
Maybe it's time to open up the dealer auction to the public🤑🤑🤑
I know Kings Auto Auction in western NC allows the public but they won't let you start it and drive around the lot. The dealers can before the auction, like a day or two before the auction. I don't know if it's still like that. They let the public enter cars and trucks into the auction but it costs more.
The car business is crooked as hell from top to bottom....
Blame it on Zionists
I am in the car business, I hate hearing and seeing these comments. It's comparable to 1 dirty cop and saying all cops are dirty! Honor, integrity is something that can't be taken from a person, only given up. Wish you the best of luck in your future automotive needs!
I double down on this coment...
They (manufacturers) need to reduce prices....just having low interest rates doesn't solve the real issue: overpriced vehicles.
Exactly !
Agreed. But they won't. Ever.
It's car not an entertainment center on wheels, not to mention forced technology by the government
Agreed, but they Recently agreed for huge wage increases to the UAW'S , to build these sofas on wheels! Not saying the workers didn't need a raise, just sayin!😮
Btw, I work on these vehicles & quality has not improved w price increase 🤨😒😪🤮
Even with lower prices I don't want an electronic mess (modern car)
I'm 73 . My wife and I are retired. We have a 2015 Dodge Durango with 300,000 miles ( we travel a lot ). We would love to buy a new vehicle but the prices are CRAZY high. I will keep my car and fix issues as I go. This is far cheaper in the long run!!! Our economy is the worst I have every seen it.
I maintain a 1998 Blazer because it's not a complicated vehicle. New cars and trucks are overpriced and too damn complicated.
This Auction made your channel in my opinion I am glad you are putting your name recognition out there to help them in a new market. They gave you a place to film where other auctions kicked you out and you are paying back the favor that is how life is suppose to work. Well done Brandon.
It blows my mind i remember the pandemic 2020 year it was last year i worked before i retired. Ill be 66 soon an never seen heard or read how prices of everything has skyrocketed in 3 short years. Its never happened in my lifetime an i remember the entire decade of the 70s. Its literal simple math. Prices gonna need to come back down quick or there will be very many layoffs. Its not even debatable its literal simple math...
Wonder what happened 3 yrs ago?? Trump 2024.
@@skippysvr4586trump won't save this mess.
People are either blind or delusional not to see what you are saying.
@@andyO4you The loonies will blame him though......especially after he wins , and the economy tanks.....because it's headed that way....2025. Or 2026. They will all have wet panties over this.......again the blame game points to Trump.......50% of the inhabitants of this country are so far gone, they can't see the 'light'
Yep, well at least with Trump we'll close that damned border, restore the US Constitution and have some one that was miraculously able to negotiate some deals with foreign adversaries before president poopy pants blows up the whole freakin world. FJB Trump 2024
A couple of months ago my car lease was up and I looked either for another lease or a decent used car purchase. The prices were insane (both car and interest prices). I ran the numbers and bought my car out of the lease at $20K from cash on hand (no finance). Two weeks later I got a firm offer of $25K for the car (it was low-mileage, great shape). To me, that confirmed my judgment: I've kept the car.
And no more bailouts for these companies how about that
Bro, your videos are gold.
that's a cool perspective the car auctioneer speaks! RARE!
Yeah. I think so too. He asked good questions too.
Very interesting to hear his response on how dealerships kick the loss down the road for creative accounting purposes on cars the dealership overpaid for and are now trying to unload. Great interview!
I bought a used car for 3k cash. It’s great. Last I checked my car payment is hmmmmm…. ZERO! Y’all are suckers with your $650 car payment. Ain’t no car worth that.
I agree with this comment I wanted to add, I feel car notes cripple people or stop them from getting ahead.
Average US car payment is up to $735! That’s just stupid!
Amen.
My car payment is $1500. That's two cars. Its 8% of my yearly gross income. I like cars and its a minuscule part of my income. If you want to buy a beater than I'm glad. Proud of you for not putting yourself over a barrel for a car. But there are plenty of cars worth it
@@TheSonyExperiencewhat cars you have ?
This was one of your best videos. Really enjoyed the dialog with the auction manager... sharp guy.
50 grand for a truck that’s crazy
Interesting video. liked the owner, seemed like an honest businessman.
At time 9:38, "too few cars, 20 guys fighting over 5 cars, so the prices go through the roof" (Supply & Demand at work) "and so the smaller buyers can't buy any cars, so they don't come back"
That's a "pain point", something that everyone knowledgeable in business looks for; if they can figure out how to solve it, might be money to be made.
Excellent interview! Getting access to the auction's team is good stuff.
You know its bad when ur seeing old kias with 100k mi on them selling for more than $15k
Just passed a used car dealer near me that had a car I was Eyeing and today every single car was gone off the lot 🤷🏻♂️ guess they went under
This has been one of my favorite videos you've done. I love the interview.
Until auctions go to a no reserve it will stay f'd up.
Agreed, highest bid should win period
Everyone needs to come down in there high horse prices from the very top, all the way down. You said it! We need simple affordable reliable vehicles. ;)
I watch everything. I need a compact tractor and I will wait because tractor sales are declining as well. Sales for just about everything is slowing down.
Real car guys saw this coming, real smart car guys prepared for it. Enough was made during the last few years to get ready for what Ray Charles could see coming.
When is the majority auto industry going to realize that they are basically screwed until the price of cars and interest rates fall back to a range that everyone can live with. The auto makers and dealers had a mentality and I think that some still have it that we can charge whatever the market will bear but because of the greed they killed the market, inflation also played a part in this. We as consumers have been willing to pay the price of these over priced cars and make payments of $700+ for 84 months, then when the car is off warranty we have to start looking at repair costs that in many cases cause a financial crisis in many households so we then run up the credit card and plunge deeper in debt and continue this vicious cycle of debt slavery
They keep prices high because people keep buying them........the Industries of all businesses manipulate most people's lives....and the 'rest' just 'follow'
Not me I buy used and prepare for a major repair it hasn't happened yet but if it does I have the money to cover it.
Wait till the chinese show up
My work takes me past our local Ford dealership. Which is owned by one of the largest dealership companies in the US. They are constantly moving used cars in and out. They seem to have become a used car dealership with new car being a side hustle.
Stay stubborn all you want; but folks aren't buying these insane prices
CQA is a pro now. look at them lights
This was dope. Thanks for keeping us in the loop.
Thank you, I enjoyed that video. Give us some more insider interviews.
Good to see you on Micheal Bordenaro's channel the other day!!
Too bad Brandon didn't get to walk around Miami with Michael.
Quite enjoying the interview aspect of your channel. Nice job!
I did car transport for a couple of years. PA, MD, VA. Glad I am not now as the business is whack.
OH, this is a cool video. Thank you, United Mobile Auctions, for giving us a peak at a side of the business a lot of us never knew.
This is great reporting and interviewing you’re doing. Just recently found your channel, as someone on the enthusiast side, seeing the dealer and dealer pricing side is fascinating. And you’re entertaining! Great work man
Dude, these interview videos are amazing. Helpful, honest and transparent. Thank you!!!!
This is an absolutely fantastic video format.
Great questions and great insights.
When car dealers stop trying to profit eight grand in every sale four grand on your train in and four grand on the new car then you will move inventory
You guys are MANIACS!I love it.
I love the new equipment you’re using for your video stuff, including the lighting. Good for you, man for investing in your business and yourself
I drive a 2007 BMW sedan, a 2011 GMC 1/2 ton 4x4 and a 1967 Chevy C10. Having the skill, tools and space to maintain these vehicles allows me to completely ignore the current market as the chances of me purchasing a vehicle any time soon are very low.
YUP! I have two older Benz's, an 20 year old Explorer, and an 8th gen civic (kid's cars).
Tools, space, and know-how mean I have very little interest in a four figure car payment.
Or u buy a decent car like a Mercedes diesel and u change the filters and oil every other year and that's it. Orr a toyota same story.
I'm jealous of that 67 Chevy!
Love the 67 chevy- ain't no school like old school!!! I have a 75 Lincoln love her great runner
Seeing $9k on a 05 scion xb with 180k miles, is a hard pill to swallow. I dont see how they can lower a price on something the dealer clearly paid too much for.
Great video, Glad to see other points of view.
Great video and great filming with the different angles!!
I really like this video! Tells you what everybody knows, but puts it out there from both sides. Manufacturers need to get a clue.
How can you hold the buyers accountable when the sellers are the ones ripping every body off?????
Glad to see the nuts & bolts of the business.
Waiting for the day any new car dealer goes on camera and consents to being interviewed. Waiting... Waiting...
We already did that...
these car dealers are parking new cars all over the place where ever you see parking lots they load them with last yrs models now they are finding space where cars usually dont park city is renting space to them
I see that too.....Screw 'em !....And if they need/want to use the property next to their's to store their inventory..........they need to be charged a 'Premium' price to whoever owns that property.....Get a good taste of their own medicine!
@@B126USMC the problem is no one is buying and this is how they make room for next years they hide last yrs and will still try to sell you 2022`s for the same price as a 2024 i agree with you screwem
You did a great job on this video. Very informative....
Wow, this was so educational. I learned a lot. Thanks for taking the time to make this video. Good stuff!
Top quality video... Do more interviews. You're good at it... allowing the person to talk... rare skill.
Good show. Great questions and obviously you have good relationships in the auto market, to be able to have these kinds of interviews. Keep up the good work.
Really liked seeing this candid conversation, good understanding of both sides of the sale.
I've been wanting a new truck but the pain is not doable.
Now I'm stalking a used Toyota 4 runner.
Great job on this video! Very interesting
Good job! What a great interview, I learned something😊
Always interesting to hear both (or thrice) sides of the story. I can imagine how tough it is for them right now...
Excellent conversation! Great content and well produced . Good Job
They all say that, and then stick a market adjustment of 12k on a vehicle. Let them eat cake and go bankrupt. I think they ought to just open the auction up to the public and watch them eat each others faces.
Good stuff. Really interesting.
This was a great interview. Thank you.
Everything I own,I own.Hell of a lot cheaper to repair than payments. looking at same dealers same used cars for 6 months. NO CHANGE IN PRICE IN ILLINOIS. STILL STUPID.
Good convo’ guys!
Definitely an interesting episode, great content! 👍
Worked for a car auction in Tennessee, drove the pick-up van, ran a lane, cleaned the barn, and transported dealers to and from the airport. So I know the in's and Outs of the auction. Manheim bough the action and great changes happened, GSA Auctions, Nissan Auction great experience.
Great interview. Interesting insight into the finances behind an auction and how dealers are affected from the seller and buyer standpoint
Good video my guy. Honest Pros in the industry.
Great insight! Thanks.
I bought a 13.5K brand new motorcycle (MSR) I put 8K down and paid it off in 8 months it costed me a total of 17K. wtf everything sucks.
" The car business isn't always an HONEST business " ;
Tks. much
Very informative!
I just traded in a 2022 sport touring Civic had 17.000 miles. I don't think it will leave the Toyota dealership though. They looked happy to see it . But get the new Camry is Nice.
So you bought in the height of the market on a civic an traded it in when the prices are still high 4 a more expensive car 😅 yea they were glad to see u coming.
Great video, thx
Kelly's Blue book needs a major rethink !
Nicely Done!
I can afford a 2k to a 6k car new 😅😂
You can now buy a good brand scooter.
6 if it's a big new supergrill truck. maybe
One of the best cars I ever bought came from an auction. In the fall of 1992 I bought a 1989 Ford Tempo with 90K miles. I picked out the car, and a friend who had a dealer’s license got it for me. I paid just under $2,000 because of the mileage and hail damage (eastern Kansas was notorious for damaging hail storms) that made it look like some kids dropped a couple bags of marbles on the roof and hood. The hassle came when I tried to get permanent plates when I was attending an Army school at Fort Knox a couple of weeks later; at the time, Kentucky based the tax/fees on the book value of the car, which they said was something like $6,000 rather than the actual sale price. I had to get estimates from three body shops to support the price and actual value of the car.
Thank you
I'm looking to buy a used car and I find the prices are ridiculously high. So the dealership paid too high a price for a trade in, in order to make a deal and I don't want to pay for his mistake. PLUS those interest rates are nuts. I had to sell my car last Sept. but thank goodness there is a grocery store that delivers. There is no bus service, no train service, no taxi service where I live in the country. Thank goodness I'm retired. I will wait as long as I need to til the market gets to where it is comfortable for me to buy. I did find one thing that surprised me. Some compact SUV's made in 2019 are selling for the same price as compact SUV's made in 2022 with the same mileage and features. The price gouging is horrendous. I CAN WAIT ! : )
Good vid
Great video.
Brandon, will you PLEASE do a video on what prices are doing on powersports??? Motorcycles, boats and jet skis, side by sides, 4 wheelers, golf carts. The market for used powersports equipment must be falling too, but that’s a far more shadowy market that’s only understood by dealers and insiders. Will you interview some folks in the powersports business and see if you are able to check the pulse of that market too?
im ine of thise.. lease is coming up due in a few months.. and im holding back even though my dealer wants to lease me a brand new vehicle.. im not touching it as I leased when money factors were low and now they are high.. so im waiting to see if special lease deals or financing comes out before the lease is up.. im not gonna jump in the market... the dealers around me are bustin full.. and the auctions around me are busting full.. (a couple are open to the public so i can browse).. I find alot of the same cars over and over.. I also believe the government plays a part too.. if consumers think that interest rates are going to come down they will wait.. so when you hear the news say things like "the fed is likely to reduce rates by fall".. people sit out on buying houses and cars... I think we are there now too..
My favorite videos are the Auctions!
Amazing content
The supply already exceeds demand. We are all still awaiting the downward price corrections. The 3rd factor in price is corporate power. That screws up supply demand economies because the current prices have been forced artificially high by big businesses choosing to only sell to higher end buyers and subsidizing their lost profits on lower end product that way.
People in distribution/transportation of vehicles must be making a fortune right now!
Interesting video.
Your content is really good. I’m in the market for a new Honda CRV Hybrid AWD. Not a lot of deals out there yet.
The auction needs to tell the seller THE CAR RAN THOUGH OUR LANE 3 TIMES NO SELL YOURE PRICE TO HIGH GET IT OFF OUR LOT!!!!!!!!!!!!!!
I can agree as a retail buyer, Toyota dealer had 2024 Camry registered as used, 44 miles on it, and didn't try to sell it to me. Offered a 2025 to be at the dealership in mid July.
I kind of feel like these dealer interviews are publicity for them, but at the same time getting in front of a camera can provide somewhat a bit of accountability, so they're good.
Bring back 40k trucks, 20 to 30k cars. No car should cost corvette money
“We need money changing hands”. People don’t want over priced vehicles. Greed and dishonesty is killing your industry. Not interest rates.