You aren't wrong, I sell inexpensive cash price cars and have never had an issue selling before these last several months and I have good inventory. Luckily for me our Auto Repair Shop is our main source of income and not the sales lot.
Hey Lucky, here in Florida at my local Chevy dealer. They are parking excess inventory in customer parking spots now overflowing with cars. One thing, they’re not honoring warranty for service anymore. I had to call in the general manager to get them to honor a warranty for part purchase from them. I’d say they’re running out of money now.
thank GOD i bought my last used vehicle in 2018.the crazy part is i couldnt afford to buy that same vehicle today.they still want 3500 to 4k more than i paid for it then, with 50k additional miles than mine.thats NOT including crazy interest rates.insanity IMO.the banks & dealers signed their own death warrents during covid.the suicidal act is done, its now just a matter of time till it catches them.
That's because the newer these automobiles get the more owner-disrespecting creepy spying, nagging, and anti-repair they get! Let me guess, the used vehicle you bought in 2018 was a pre-2014 model? I wouldn't shell out my hard-earned cash for any model year post-2013...but that's just my sense of self-respect asserting itself.
No, not a good time to open a dealership. Disposal income has decreased and people are repairing their vehicles instead of rolling the dice on a used car, not knowing what problems they are buying. Car dealerships in central Texas seem to have excess inventory. Income in this area makes it impossible to purchase a new vehicle.
I suspect the car dealer I bought my new 2025 vehicle from has money problems. I bought this car in Nov and they still have yet to refund the overage I paid in required license fees. I contacted them at the end of Jan and they claim they're waiting for their title processor to return the excess to them. I told them that sounds like a you problem, cut me a check. At what point would someone put them on blast? It's not a life changing amount of money, but enough for two and half weeks of groceries.
Inflationary pricing length combined with consumer credit issues cars aren’t going to sell. Bottom line - cars have way too much technology that the average consumer never asked for and manufacturers added on to drive revenue and now it’s biting everyone. Manufacturers need to offer vehicles with no technology or make tech options to get base prices down.
Welcome to the real world this is how it use to be 45 years ago in the auto retail business. We only had 36 months financing on new and on a 1 year old with low mileage vehicles. The banks only loaned xyz $'s less 20% of the selling price that the customer had to put down or we took them to a dip house for down payment money. We Sold vehicle's not payments. This is a small part of what it was like back then. It is about time the car industry cleans up this mess so sales can get back on track. The weak, bad dealers will go away leaving the good trustworthy Dealerships will have to earn back customers by not over packing their cars with over priced unwanted accessories.
I would say 30% of the used dealers are gone from the Richmond Va market. Rents have doubled but there’s also a lot of empty dealership and shop space. I’m a Traveling hardware salesmen in the area.
There are a few dealerships on Boulder Highway that I hope fold. I went to several of these dealerships last year and to say they were unethical is an understatement.
Lucky, why do banks look at the MSRP for the value of new cars? I bought a new car a few months ago. I wanted a diiferent car for my business, but I had about $15,000 negative equity in my truck. I have good credit, but..... I bought a Dodge Hornet that was marked down $17,000 ($47,000 msrp) the bank didn't even flinch. I financed just under MSRP. The Hornet was probably worth around $26k when I drove it off the lot. I would think banks would do a little research because they financed essentially 140 - 145% LTV.
The bigger the loan, the more money they make, Cars except for that rare moment in time (chip shortage blah blah) never have positive equity until the term is basically over.
If a used dealer has to kiss the note for a period of months to get the deal bought from a bank they need to be prepared to make the first payments for the first few months into their profit profile.
Ford sent me an email this morning that offered me a bonus $2,000 of any new Ford, this discount was to come off AFTER all other dealer discounts and incentives had been applied.
I know someone that got $10k off each RAM 1500 on top of other incentives if they bought ten trucks. They needed ten trucks for a business fleet so that worked out well for them.
Trading success requires technical analysis skills, discipline, and emotional maturity. It’s not about timing the market, but being prepared for it. Sophia Haney’s wisdom, daily trade signals, and my commitment to learning have led to steady increases in daily earnings to over 16BTC. Keep up the great work!
I hope this inspires someone to start investing today, regardless of age. I wasn’t financially free until my 40s, but I’m still in my 40s with a third property, passive income, and four of my five goals. Investing in the financial market was a wise choice. Thanks for sharing this incredibly inspiring video!
Diversify your income streams to boost your earnings. This year, I’ve successfully done this by investing while I work. I invested through Sophia Haney, the CNBC anchor who often mentioned her. She invested my startup capital in less than three months after getting certified.
I have been quite cautious to get involved in this specific industry, but I believe that this is the perfect time to do so. I went to a seminar where the speaker discussed how lnvesting in cryptocurrencies may result in gains in the near future of well over $4.5 million. I have to know which coin to buy with.
I invested across major markets and follow Sophia’s rules, a great financial advisor. My portfolio has grown by 20-30% monthly while my IRA stagnates. Her exceptional diversification skills have not limited my portfolio to my choices; they reflect her placements. She provided me with financial independence.
That’s great! Your investment advisor must be excellent. I’ve read about people who improved their financial stability with investment advisors. Can you tell me who your broker is? I have $500,000 set aside for the stock market to boost my income.
Good time to open a dealership… No. Good time to start acquiring low cost inventory… yep. It’s a good time to start planning and getting investors. Start getting plans together and ready to pitch to investors as well
That guy on J&S Auto seems to move a lot of cars... but who knows what the margins are and he appears to have a lot of overhead, mechanics, sales people, social media guy, etc..etc. I assume there is an interest expense on his inventory too ? So many of his customers are buying cars they cant afford, underwater in loans only to get more underwater
In Portland Oregon most of the cars are going over wholesale I can't get anything and its hard to sell anything I am getting like 12 people and 1 may buy
I sell luxury and exotic auto parts. Mostly wheels. The last 2 weeks has been DEAD like really dead. I haven't had sales like this since the beginning of covid
Lucky your outro is loud as hell. It can literally give someone a heart attack if they have the volume loud listening to you. Maybe a softer outro one day?😃 Excellent content by the way ❤
Not to get too political, but when the tax cuts get passed in the spring, and taxes on tips go away, then subprime and deep subprime buying power should improve. I hold off for a few months. I'm guessing from your video that you would set up a Buy Here Pay Here. I'm also guessing from your video that you want private equity for liquidity and not a commercial line of credit. My hunch is that if you wait until after the tax cuts kick in, then you might find enough private equity folks to pony up the money you need to get up and running.
Do you believe that buying desirable classics like Fox body mustangs or Corvettes or broncos are a good long term hold for appreciation if you don’t put a ton of miles on them or are they a waste of time for someone with small money/ also, financing them is a good thing or a bad thing and negotiate cash only?
Is a franchise type of dealership possible. Meaning you can help scout out a dealership location and provide a ready to go inventory. Is there a suitable on line auction to move cars or that to big of a headache.
Mon copain a essayé de pimenter les choses en suggérant d'essayer une nouvelle position du Kama Sutra. Nous nous sommes retrouvés plus emmêlés qu'une paire d'écouteurs dans une poche🍒
Good video 😊 I buy new only how about the tariff and gm has 877 6.2 gas engine that have gone bad and the 6.6 duramax Alison transmission valve body problems I'm in California a little slow in sales I'm going to buy 2025 duramax ltz my 2021 has a valve body problems there going to do a software update patch not fix don't have enough valve body to go around I would not open a dealer In this economy
They need to feel the pain like everyone else and no I don’t feel bad for them they made a shit ton of money during the pandemic and like everything in life it ebbs and flows….
10k for any vehicle over 20k miles on a used car is to expensive. It’s insane how much vehicles cost. Tax payers are not only paying for vehicles at a high price and on top of that tax payers are bailing out producers. No competition in the Automotive industry and the green energy dictatorship increased cost more.
@@LuckyLopez777 Not desperate enough to sell owner-respecting non-creepy non-nagging repair-friendly vehicles that would actually be _worth_ shelling out your hard-earned cash for!
More Clickbait bullshit. Dealers are doing better than ever. Basic economics. If they were suffering prices of new vehicles would be going down...Newsflash... they're going up.
I'm not seeing any signs of a turn-around. In fact all I see is layoffs, higher inflation incoming, current interest rates if not higher and supply chain problems caused by the tariffs. Even Trump has said that people need to be ready for some pain. I'd probably be hoarding my cash and hoping there's no disruption in the food supply to the supermarkets.
Must be nice to get tax money back to buy vehicles. As a single guy with no dependents (my son lives with his mother more than me) I get railed by the IRS for making over 110k a year. Not even buying a house helped.
I see that most people were on edge for the past year. Now all it needs to go over the edge is a mild recession like the one Trump is going to create. People are going to panic.
@@jayp4114Exactly. The recession was so bad that even the Amish felt it. That along with the FDA harassing those that farmed motivated them to come out and vote for the first time ever.
You aren't wrong, I sell inexpensive cash price cars and have never had an issue selling before these last several months and I have good inventory. Luckily for me our Auto Repair Shop is our main source of income and not the sales lot.
Hey Lucky, here in Florida at my local Chevy dealer. They are parking excess inventory in customer parking spots now overflowing with cars. One thing, they’re not honoring warranty for service anymore. I had to call in the general manager to get them to honor a warranty for part purchase from them. I’d say they’re running out of money now.
thank GOD i bought my last used vehicle in 2018.the crazy part is i couldnt afford to buy that same vehicle today.they still want 3500 to 4k more than i paid for it then, with 50k additional miles than mine.thats NOT including crazy interest rates.insanity IMO.the banks & dealers signed their own death warrents during covid.the suicidal act is done, its now just a matter of time till it catches them.
That's because the newer these automobiles get the more owner-disrespecting creepy spying, nagging, and anti-repair they get! Let me guess, the used vehicle you bought in 2018 was a pre-2014 model? I wouldn't shell out my hard-earned cash for any model year post-2013...but that's just my sense of self-respect asserting itself.
Great timing on the dealership, Lucky!!
$$$$
@@LuckyLopez777
Can't wait for the videos showing the sweet deals on wheels when you get business rolling again!
This tax season is gonna be pretty terrible for dealers.
Hell yeah, I have to 9.5k more over what they already took!
No, not a good time to open a dealership. Disposal income has decreased and people are repairing their vehicles instead of rolling the dice on a used car, not knowing what problems they are buying. Car dealerships in central Texas seem to have excess inventory. Income in this area makes it impossible to purchase a new vehicle.
Well I mean they should, trying to sell 2007 Toyota Corolla with over 150,000 miles for 8,000.
Lotta businesses are going out of Business.
Bless you Lucky!!!!
Minnesota and Midwest. Seeing slow sales in cities of 100,000+ population base and better sales in smaller communities.
I’m all for it!!
yessssss
I suspect the car dealer I bought my new 2025 vehicle from has money problems. I bought this car in Nov and they still have yet to refund the overage I paid in required license fees. I contacted them at the end of Jan and they claim they're waiting for their title processor to return the excess to them. I told them that sounds like a you problem, cut me a check. At what point would someone put them on blast? It's not a life changing amount of money, but enough for two and half weeks of groceries.
Inflationary pricing length combined with consumer credit issues cars aren’t going to sell.
Bottom line - cars have way too much technology that the average consumer never asked for and manufacturers added on to drive revenue and now it’s biting everyone. Manufacturers need to offer vehicles with no technology or make tech options to get base prices down.
Welcome to the real world this is how it use to be 45 years ago in the auto retail business. We only had 36 months financing on new and on a 1 year old with low mileage vehicles. The banks only loaned xyz $'s less 20% of the selling price that the customer had to put down or we took them to a dip house for down payment money. We Sold vehicle's not payments. This is a small part of what it was like back then.
It is about time the car industry cleans up this mess so sales can get back on track. The weak, bad dealers will go away leaving the good trustworthy Dealerships will have to earn back customers by not over packing their cars with over priced unwanted accessories.
Market is shit in nyc dealers are fly by night😢 here one month gone the next month !! And a ton of salvage vehicles being sold 😮
Yup it’s either Salvage or Rollback mileage all over FB Marketplace… stay away from cars in Brooklyn & The Bronx it’s really bad out here..
I would say 30% of the used dealers are gone from the Richmond Va market.
Rents have doubled but there’s also a lot of empty dealership and shop space.
I’m a Traveling hardware salesmen in the area.
wow. thanks for sharing
Route 1 is becoming thinner and thinner of dealers as you go up north
There are a few dealerships on Boulder Highway that I hope fold. I went to several of these dealerships last year and to say they were unethical is an understatement.
All the big name dealers in VA seem to have tons of cars. Except Lexus. All lots were empty 2 years ago. Wild stuff
$$$$
Northern VA never gets hit as hard as the rest of the country. It's the wealthiest couple counties in the country.
My area had whole road of 10 car dealers when I moved here ~20 years ago, only 2 still remain (Toyota & Nissan) and no new ones have opened.
thanks for sharing
Lucky, why do banks look at the MSRP for the value of new cars? I bought a new car a few months ago. I wanted a diiferent car for my business, but I had about $15,000 negative equity in my truck. I have good credit, but..... I bought a Dodge Hornet that was marked down $17,000 ($47,000 msrp) the bank didn't even flinch. I financed just under MSRP. The Hornet was probably worth around $26k when I drove it off the lot. I would think banks would do a little research because they financed essentially 140 - 145% LTV.
The bigger the loan, the more money they make, Cars except for that rare moment in time (chip shortage blah blah) never have positive equity until the term is basically over.
If a used dealer has to kiss the note for a period of months to get the deal bought from a bank they need to be prepared to make the first payments for the first few months into their profit profile.
I love but love your videos
thanks 🙏
if dealerships are having such a problem selling, why the ridiculous prices?
Supply /demand has flipped. Dealers refuse to see the writing on the wall and continue to keep their heads in the sand. Karma is a bitch.
My gold etfs are cranking gld or iau.
Gold always goes up and paper money alway decreases.
Ford sent me an email this morning that offered me a bonus $2,000 of any new Ford, this discount was to come off AFTER all other dealer discounts and incentives had been applied.
Interesting. I wonder how that will go if you bring it into a dealership. Maybe present it after the deal is on paper?
$$$$
I know someone that got $10k off each RAM 1500 on top of other incentives if they bought ten trucks. They needed ten trucks for a business fleet so that worked out well for them.
Reno Nevada. Noticing there are a few smaller lots that have been around for awhile that have gone out of business over the last few months.
Reno and Cason city. have alot of small local banks that lend well with no to little fees. I would open up there but i hate the cold lol
Seems like most businesses are on the decline.
I’d definitely buy cars from you for my turo fleet.
I might have a spot for you that you can rent. Would be a shared yard space but office space and shop with a yard
I cant so shared yards. to many bad experiences but thanks
Great 👍
yessssss
No ones using their tax money as a down payment.. people are broke , if anything they’ll be paying off credit cards
if they are priced right they will sell. how much does it cost you to run them through the auction.
Hey, Some of those dealers were pandemic dealers. When the pandemic is over, the dealer goes out of business
Trading success requires technical analysis skills, discipline, and emotional maturity. It’s not about timing the market, but being prepared for it. Sophia Haney’s wisdom, daily trade signals, and my commitment to learning have led to steady increases in daily earnings to over 16BTC. Keep up the great work!
I hope this inspires someone to start investing today, regardless of age. I wasn’t financially free until my 40s, but I’m still in my 40s with a third property, passive income, and four of my five goals. Investing in the financial market was a wise choice. Thanks for sharing this incredibly inspiring video!
Diversify your income streams to boost your earnings. This year, I’ve successfully done this by investing while I work. I invested through Sophia Haney, the CNBC anchor who often mentioned her. She invested my startup capital in less than three months after getting certified.
I have been quite cautious to get involved in this specific industry, but I believe that this is the perfect time to do so. I went to a seminar where the speaker discussed how lnvesting in cryptocurrencies may result in gains in the near future of well over $4.5 million. I have to know which coin to buy with.
I invested across major markets and follow Sophia’s rules, a great financial advisor. My portfolio has grown by 20-30% monthly while my IRA stagnates. Her exceptional diversification skills have not limited my portfolio to my choices; they reflect her placements. She provided me with financial independence.
That’s great! Your investment advisor must be excellent. I’ve read about people who improved their financial stability with investment advisors. Can you tell me who your broker is? I have $500,000 set aside for the stock market to boost my income.
Good time to open a dealership… No.
Good time to start acquiring low cost inventory… yep.
It’s a good time to start planning and getting investors. Start getting plans together and ready to pitch to investors as well
It’s a good time to start a dealership that emphasizes NO EV’S , NO HYBRIDS SOLD HERE!! 🇺🇸
That guy on J&S Auto seems to move a lot of cars... but who knows what the margins are and he appears to have a lot of overhead, mechanics, sales people, social media guy, etc..etc. I assume there is an interest expense on his inventory too ? So many of his customers are buying cars they cant afford, underwater in loans only to get more underwater
North east has the best credit customers. Im going to NJ next month to visit dealers there
One untapped Market, is stealing U.S. automobiles and shipping them overseas. Opportunity awaits !
Maybe someone who is overleveraged on their vehicle can have it stolen. lol
🙃@@vijayanchomatil8413
Let’s open one up in Phx Lucky
Good video
Rent a warehouse.
The channel cqa was at the auction and it was fine.
Every market is different. always good to check all areas
In Portland Oregon most of the cars are going over wholesale I can't get anything and its hard to sell anything I am getting like 12 people and 1 may buy
we used to send every Subaru we got to Oregon we would get all the money lol
Good...don't have to deal w sleazy selling techniques from the dealers. Better off using manufacturing to consumer model
their are a few good dealers
@@LuckyLopez777better to be screwed by the manufacturer than both manufacturer and dealer.
What is a "cheap" car?
It was unavoidable.
I'd buy a car from you. I love your videos and honesty.
thanks I appreciate it
I sell luxury and exotic auto parts. Mostly wheels. The last 2 weeks has been DEAD like really dead. I haven't had sales like this since the beginning of covid
thanks for sharing
Lucky your outro is loud as hell. It can literally give someone a heart attack if they have the volume loud listening to you. Maybe a softer outro one day?😃 Excellent content by the way ❤
sorry about that
They should've accepted my stupid lowball offer lol
throw in 10 chicken nuggets to sweeten the deal lol
Not to get too political, but when the tax cuts get passed in the spring, and taxes on tips go away, then subprime and deep subprime buying power should improve.
I hold off for a few months.
I'm guessing from your video that you would set up a Buy Here Pay Here. I'm also guessing from your video that you want private equity for liquidity and not a commercial line of credit.
My hunch is that if you wait until after the tax cuts kick in, then you might find enough private equity folks to pony up the money you need to get up and running.
Thanks for sharing.
Do you believe that buying desirable classics like Fox body mustangs or Corvettes or broncos are a good long term hold for appreciation if you don’t put a ton of miles on them or are they a waste of time for someone with small money/ also, financing them is a good thing or a bad thing and negotiate cash only?
It would be interesting to hear his opinion about it as a car enthusiast myself. But I am more into 90s and mid 2000s classic Japanese sports cars.
COMING SOON: CAR WASH
Is a franchise type of dealership possible. Meaning you can help scout out a dealership location and provide a ready to go inventory. Is there a suitable on line auction to move cars or that to big of a headache.
Very hard to get and you need millions to start
Maybe time to buy gold n silver
I have some gold. no silver yet
NOBODY"S crying for dealerships.
lol
Im looking to open a dealership broker soon
its alot of work for very little commission. do you know any local brokers you can talk to.
Mon copain a essayé de pimenter les choses en suggérant d'essayer une nouvelle position du Kama Sutra. Nous nous sommes retrouvés plus emmêlés qu'une paire d'écouteurs dans une poche🍒
If this is the case, why don't dealers accept cash offers?
they are getting lowballed.
Is the dealer still in business you sold to still?
yes but they closed my location
@ just curious what do used car dealerships sell for back then or now
Good video 😊 I buy new only how about the tariff and gm has 877 6.2 gas engine that have gone bad and the 6.6 duramax Alison transmission valve body problems I'm in California a little slow in sales I'm going to buy 2025 duramax ltz my 2021 has a valve body problems there going to do a software update patch not fix don't have enough valve body to go around I would not open a dealer In this economy
Open a dealership? Lucky don’t do it!! Maybe in three years. Unless you want to show your subscribers the bankruptcy process.
You only sold one...? Ouch!
soon to be 2 lol
They need to feel the pain like everyone else and no I don’t feel bad for them they made a shit ton of money during the pandemic and like everything in life it ebbs and flows….
they are in big pain
@
Don’t see that in so cal a lot of dealers are still asking for mark ups
Good luck on your dealership
Hey
Hola
😂😂😂😂😂
🤔🤔🤔🤔🤔🤔🤔🤔🤔
😁👍
Getting desperate?
lots of dealers are I see alot of dealerships up for sale too
@@LuckyLopez777 Lots of desparate folks out there right now!
10k for any vehicle over 20k miles on a used car is to expensive. It’s insane how much vehicles cost. Tax payers are not only paying for vehicles at a high price and on top of that tax payers are bailing out producers. No competition in the Automotive industry and the green energy dictatorship increased cost more.
@@LuckyLopez777
Not desperate enough to sell owner-respecting non-creepy non-nagging repair-friendly vehicles that would actually be _worth_ shelling out your hard-earned cash for!
@@LuckyLopez777Did you ever open up your bhph dealership?
More Clickbait bullshit. Dealers are doing better than ever. Basic economics. If they were suffering prices of new vehicles would be going down...Newsflash... they're going up.
Id skip the dealership and apply for a govt job. 😊
Did the guy rent the space for $40k?
nope its still there. empty lol
@LuckyLopez777 Haha! Go back and offer $15k 🤣👍
lucky time for some new content. you car youtuber snake salesmen been doing the same thing since covid.
got some fun build videos
people who default should never get another loan
Americans ran out of money
$$$$
Not a fan of that creepy outro music
Cry me a river for all the Stealerships going bankrupt 😂😂
Think about it since Trump immigration aggressive most immigrants don’t buy cars they keep what they have
The buy alot of cash cars. only a few could finance.
Lucky really tried to warn people for almost 2 years .as usual those prophecys get discarded and the messenger shot 😂😂😂😂
they are calling now to see how to save their business
I'm not seeing any signs of a turn-around. In fact all I see is layoffs, higher inflation incoming, current interest rates if not higher and supply chain problems caused by the tariffs. Even Trump has said that people need to be ready for some pain. I'd probably be hoarding my cash and hoping there's no disruption in the food supply to the supermarkets.
Tariffs on Mexico and Canada put on hold for 30 days
@@SaiRulez1 It's like watching a circus.
Must be nice to get tax money back to buy vehicles. As a single guy with no dependents (my son lives with his mother more than me) I get railed by the IRS for making over 110k a year. Not even buying a house helped.
When manufacturers go out of business, they should come back as non-union, so they won't need to produce over-priced vehicles.
Your channel is a place where quality always comes first. Thank you for your talent and professionalism!🚖🌛👆
I see that most people were on edge for the past year. Now all it needs to go over the edge is a mild recession like the one Trump is going to create. People are going to panic.
We were already in a Recession, as the average American can barely pay their Rent, let alone buy a care on 9% Loan rates
@@jayp4114Exactly. The recession was so bad that even the Amish felt it. That along with the FDA harassing those that farmed motivated them to come out and vote for the first time ever.
Lucky you been telling everyone not to buy cars for like 3 years now
Thank you Lord. they all sell crap.
A bit like wanting an old blackberry phone,while reality happening, ie Chinese electric cars are far better and oh know much cheaper, what pisstake
Situazione sentimentale: sto discutendo se depilarmi le gambe o indossare i pantaloni per tutto l'inverno🐱
Do both my dude!
Your channel is a place where every video is a journey of knowledge and discovery. Keep inspiring us with your creativity!🐽🌡🎮