NOW is the WORST TIME to BUY!! Car Dealers are in SURVIVAL Mode...
ฝัง
- เผยแพร่เมื่อ 14 มิ.ย. 2024
- Dealerships have taken advantage of people throughout the last few years... marking up their new and used vehicle inventory left and right. They didn't care about building lasting relationships with their customers, they just wanted to maximize their income... at the expense of their customers. The tables have turned. Dealers are struggling to make sales happen across the country. People are tires of overpaying for vehicles... Awful interest rates combined with exaggerated MSRPs have drove people out of the market. When you sprinkle in the extremely high insurance premiums, people can't take it. This has led the record high repo rates and loans defaults across the US. People are walking away from their auto loans. The cost of living no longer jives with new vehicle ownership.
In this video I present some staggering stats and facts about the new and used vehicle market. Details that are alarming yet indicative of what the future holds. I don't recommend buying a car in 2024 if you can avoid it. Things will only get worse before they get better, I'm sure of that.
If you NEED a new vehicle, wait until at least April 2024 prior to starting your search. Retail market will have caught up with the wholesale market by then. The longer you wait into 2024, the better off you'll be I think. Your best bet (if able) would be to buy a cheaper used vehicle outright. Maybe $10-20K... avoid a loan with a terrible interest rate and get into a vehicle that will only take a minimal depreciation hit. Cheap vehicles won't come down much over 2024. Let me know your thoughts, do you think things will get better for the new and used car market in 2024? Thank you for watching as always.
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-Stay Untamed...
#carmarket #dealership #marketcrash #markettrends
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@untamed_motors - ยานยนต์และพาหนะ
Please don't buy yet, let the dealers suffer from major losses from floorplan cost, interest rates, etc. They're gonna bring down the prices even further. Just hold the line folks, we might be able to see affordable vehicles again! RIP but there's a car bubble market!
Damn straight! And when I go to the dealership to finally buy, I'm asking for everything. I want that discount, I want rebate, I want fees waived, I want the floor mats the door guards, the bumper applique, the ceramic coating. Hell I want free coffee, free food, the first couple oil changes for free, foot pics from the hot receptionist, I want the extended warranty for free, I want a full tank of GAS AND free detailing.
@@Malkavhaha foot pics holy shit that’s amazing. 🦶 📷 😂😂
I'm gonna need another car soon and I'm trying to hold on. I pray these prices come way down soon; if not I don't know what I'm gonna do 🥺🤔
Manufacturers set the prices. So give them a call.
@@chuckjames7101 Dealers charge bullshit fees. Hold the line.
dealers are strange animals, they would rather sent cars to auction or go bankrupt than lowering the price. Their huge egos must be paying the floor plans....
Massive egos. Can't ever let the customer have a win.
They probably think that if word gets around that they discounted some cars, they will have to discount all cars to make a sale. They would rather shit and fall back in it than let that happen.
Agree 💯
why dont you go open a dealership then LMAOOOO and you drop your prices how you think youd want them too look like moron, then see how long u last. Ppl are soo dumb own a business then talk
They’ve gotten extremely greedy over the last few years. It’s no longer about the customer. Just the dollar. 🤦♂️
If you’re in Central Florida, remember the Jenkins automotive group. They have dozens and dozens of dealerships and every single one has a markup on every single vehicle. I’ve seen Ford broncos with $40,000 markups Toyota Camry with $4000 markup. It’s insane and that’s across the entire automotive group. It’s disgusting.
The consumer is to blame, negotiation and haggling have all gone out the window, people must have it now no matter the cost. They wouldn't set these prices if a large majority did not bite.
I’d boycott them
Yeah it’s probably time for them to go under 👌
Let them go under, and every other price gouging piece of $hit dealer out there!
@@UntamedMotors
Dealer here. Capitalism works. If you don’t want to buy the car, don’t.
Havana is only 90 miles south, heard they have a nice selection of late 50’s Chevy’s there and *no markups* 😊
Spoke to a truck dealer last week and he admitted inventory is forecast to blow up in the coming months. HOLD OUT!
HOLD THE LINE!!! We need to hold like the blockbuster stock .
@@kustomchevy27😂😂😂
That doesn't mean anything. They'll just hike the prices on the new inventory like they've been doing for over a year and a half. A YEAR AND A HALF and not a single deal anywhere. I've given up anyway.
They're crazy asking absurd amounts of money for cars over 100k miles.
CarMaxx loves cars with over 100K they buy them for 75 percent off and sell them for over 125%, then have high interest rate financing, they make a boat load of money on them.
Yep things have gotten completely out of hand. Something has got to give soon.
@Moondoggy1941 I know it's horrible I was looking at them before things out of control and glad I didn't.
$30,000 for a Toyota Sequoia with over 100,000 miles. $30 grand on a car that's basically 1/3 of its life gone. What in the actual hell. I've seen 200,000+ miles Sequoias being sold for $18K. That's f-ing ridiculous.
@@michaelwilson2891Buy from someone who actually needs to sell their vehicle. Just have a mechanic go over it completely.
3:44 is exactly why I have been holding out. I have gone to dealers and offered fair values for both parties and they have said, I'm asking for too much off LOL; no you're asking too much! Then I watch those cars go to Auction and appear at another dealership within 75miles. Now I only make low ball offers on cars that have been at dealerships for 2months plus, and then I ghost them when they come down on price...Literally went into a dealer last week, ask for best OTD. Countered, they said no way, NEXT DAY price was cut $2k, on principle I won't do business with them.
They cut the price as a Bait and Switch tactic. They list it lower, you show up and it's magically thousands above. This is when you try to get a copy or picture of the advertised price and report them to the FTC. So many dealerships do this now and they need to pay.
Good. Don’t succumb to their greedy antics. Let their own greed put them under.
You do realize the salesmen and women have ZERO contr9l over prices... When you lowball or ghost a salesperson you are not hurting the dealership, but you are hurting the salesperson.
@@jeredjamesaz NO! The salesperson hurts themselves by saying they can't work with me instead of going to their finance officer and trying to get them to work with a potential customer. They are basically saying that they don't even want to try to help me on the price. If the salesperson doesn't know how to work with customers, that's on them. I'm not hurting them, their shitty technique trying to emotionally manipulate customers is what hurts them. Get outta here with that nonsense; I'm hurting them LOL they are literally trying to sucker me out of thousands.....try again.
I was in SC inquiring about a 23 trd Taco… they were at 51k. I basically walked out. . I will just keep my new rusty 05 Tundra for now. Thing only has 248,000. Thank you MI for the rust.
New vehicle prices could be cut in half and still be overpriced
I couldn’t agree more. Prices have just gotten absurd…
Based off value or your income level ??
@@galan2209 value. What you get vs what you pay for doesn’t line up like it used to. Dollar doesn’t go as far now days.
@@galan2209 communist
Yep. A local dealer near me is charging more for last years model, still new on the lot,same features.
Oh man, I'm so glad I came across your page. I'm in the market not for a new truck BUT right now it's stupid high even here in Texas in March 2024. Keep up the good work!
Thanks a ton brother. 🙌 have a nice car market update video coming in the morning.
*In the market looking for a 19-21 Mazda 6 or Toyota Camry...*
*Dealers are still holding on to INSANELY inflated prices.*
*Just gonna SIT BACK, and wait for these prices to collapse on their ASSES.*
Unfortunately we may be seeing the reverse from speculation because people are not trading in their vehicles which is keeping inventory low. Honda and Toyota are the highest priced because of popularity. Depending on the Mazda the prices range from average to disgusting. I see so many basic trim for sale both new and used, and I hate it. It's not worth buying at the prices they want. Tax season is approaching which is going to see prices skyrocket for a few months because dealerships do this every year. The less inventory they have they won't budge on price. Looking for a car is frustrating and exhausting all because of dealership manipulation worse than ever. We can only hope they face some harsh reality and massive fines from the FTC/DOJ.
I have a 2012 Mazda 6 with 70k miles on it. Contact me if you are interested. Been trying to get rid of it but haven’t had to time to post and take pics etc…
@@SoulfireSilver Honda's reliability has suffered over the past decade, and in my view, their power-trains' quality is analogous to Kia's and Hyndai's overpriced junk. Never mind my statements, search the web, "Honda oil dilution problems." I'm leaning towards purchasing a Mazda without GDI and the ubiquitous "POS" CVT.
They might not collapse
Patience will serve us all very well right now. It’s just begun.
The issue at hand is "Lot Rot". These "new cars" will not remain new due to prolonged inactivity, resulting in leaky seals, weak hoses, and fluids requiring replacement. Anyone buying one of these cars should demand a HUGE discount because they will be plagued with problems down the line.
You’re absolutely right about that 🙌 💯
@@UntamedMotors Gawd... how can we educate ourselves on this when buying a vehicle?
I just purchased a 2014 Toyota Camry as my daily driver. Leather interior and very clean history. Bought it from a Toyota dealer. One owner only, local from NC with 120k. The dealer wanted 11k I offered 10k and that was final. They accepted my offer and they thought i was going to finance the car. I sold my 2009 Corolla for 4K private party. When I entered finance I straight up wrote the dealer a check. I also own a 2018 GX460 and my wife a 2015 RAV4. All vehicles are title on hands and nothing is owed to the bank. We have no plans on buying any vehicles for the near future. Thanks for the video!
Excellent strategy. I am Muslim and we are prohibited of buying anything with interest, so I also buy cash only or at worst lease and then buyout. Interest $ that banks make is criminal and it pollutes our society in so many ways we don’t realize
@@thedetective8150 yes. It’s a great vehicle.
@@samman4602 you do not have to bring religion in online topics. People have no idea about what you are saying and will only make fun of it. So please stop using religious.
Of course you and I do not want to be under the interest chain. But keep in mind, you and I can not buy a close to 200k house in cash. Because 200k will take longer to save up. Therefore many Muslims buying a house with interest.
That's a smart way to buy a car sir. Pay cash upfront on a good used car. No interest, no depreciation, no full insurance coverage requirement, and you get the title.
@@thedetective8150 sorry for the late response. Yes I do recommend the GX460. It is a great solid option. I sold my 2016 4Runner then got the GX. If you buy it 2nd hand, make sure it was taken care of as to maintenance. But overall, it is a tank.
It's such a shame that we're basically wanting a auto market crash to stabilize car prices. What is wrong with dealerships right now
That's every market, not just autos
And the rental market, and the housing market, and the food market, and the healthcare mark…
I'm seeing the same thing happening here over in The Netherlands. Lots of inventory (including new cars in transit from factory to dealer) and prices are slightly coming down, but its still a longggg way to go. The 2nd hand market is still up by 25-30% since the pandemic. Im a sucker for US cars (Mustang, Camaro SS, Z06 Vette) and due to absurd taxes, these types of cars are already twice the price here compared to US (e.g. Challenger Hellcat 2020 is $150K over here) so ill happily wait for it all to come down in the next 12 months. Also, to help lower the costs, I do think that dealerships need to revise their compensation plans for sellers. Its not that hard to fill in some papers, help pick a color (when ordering new) and facilitate a test drive. So why compensate for a "sell" while its more like being a file clerk...
We need to take dealerships out of the sales market, go online order a vehicle from the manufacturer, service it at a service center. That would be ideal.
Agree
Dealer sales are down but profits are up....dealers will follow that model until it doesn't work.
I totally agree with you.
I did have plan to buy a new car a few years ago. My 2007 Honda minivan had +250K miles on it and started having some components problems because of wear and torn. Since its engine and transmission are still in good condition... Rather than spending money to buy a brand new minivan (2021 Sienna), I invested my money into my existing van and have a local service shop to do the repair (New suspension, 6 coil packs and spark plugs, new AC condenser, new radiator and cooling fans, new starter, new battery, new engine mounts, new brake pads, and changed all the oils needed.) I did spend +3K for repair so far since 2021 but as of today, it run like new and has +281K miles on it. Sure I'll still looking for a new minivan but not today, not for a while. I will keep my Odyssey in good shape and drive carefully for a few more years or until the dealership gives a reasonable price on its cars MSRP.
2008 Honda Odyssey going strong here. Way better than these new pieces of crap tech cars
Most car enthusiast like me that are into older sporty cars have had to restore them over time to keep enjoying them. I still have a 95 Acura Integra with 270k that has been pretty reliable but has needed certain parts replaced due to age a wear and tear.
And even though it's gotten beat up because of careless drivers I still plan on doing a full restoration someday complete with an engine rebuild or engine swap with a more powerful one.
very smart of you
Sounds like you made a wise move imo. Ride it out for a while longer either way your odyssey 👌 💯 Solid van.
Are you me? Same story with my 2006 Odyssey. Still driving a 2004 CR-V as a secondary because the K24 engine refuses to quit. We have a larger family though so I'm on the lookout for a 2008 generation Pilot.
"Letting their own greed shoot themselves in the foot" - this could explain most of humankind's history.
Ain’t that the truth =\
At current pay levels, I vowed never to spend a dime over $20k on a new car. So in 2017 got a new Subaru Impreza for exactly $20k from the dealer. I’ve never owned a new car before, but have had 7 used cars. Then I got a $19,900 new Arcimoto FUV. Both vehicles are driven and work well several years later. Oh, and I’m hanging onto our 2001 Toyota Tundra that I got used for $6,800. Still reliable but quite the gas hog.
Hey me too! Got my Honda CRV at $20k for 65k miles. The reason I pulled the trigger is because they gave me a five year warranty and I’ve used it twice already!
Good insight and with numbers to back up your analysis!
Great honest video, Thank You.
My pleasure! Thank you for watching! =]
Good video. I cannot believe how spread apart the houses are in the background.
Thank you for the positive feedback! Haha yeah good ole Wyoming! =]
@@UntamedMotors ahh! My family hails from Worland. Apparently we still have a cabin near there somewhere.
@@KaiPonte awesome! We love it here. Good people! =]
Bought a new 2024 4Runner Limited last week below dealer cost. Dealer had to buy the car personally to avoid getting his allocation cut. It was sold as a "Used Vehicle" with 30 miles on it and full warranty. Vehicle prices won't go lower. Manufacturers aren't lowering prices. They will just make fewer vehicles and lay off employees. The new UAW contracts have accelerated this trend.
Heck yeah man! Congrats!! 🙌
It was happening along before the union contracts buddy don't blame that
The union is to blame for different things at times they all the time striking or protesting something and not like they don't get paid a ston
Great follow up video after the Raptor sale, very informative👍
Appreciate it man, thank you! 🙏🏼
Great advice!! Keep it up!!
0:50 shocked by how far away the neighbors houses are...yes, I live in CA, and yes I'm envious.
You voted for that slimebag Gavin Newsom hahahaha idiots
Looks great doesn’t it.
Wide open spaces of Wyoming. Plenty of room to breath. We love it here. Could probably benefit from having a few more trees but oh well lol.
@@UntamedMotors was guessing you were in South Dakota due to the lack of trees. drove across South Dakota a few years ago and saw maybe 3 trees the whole way.
Fuck California!
So helpful thank you so much. Very happy I found your channel last week. I have a 2012 VW Tiguan, but will keep waiting to purchase. My VW dealer in Edmonds WA is not lowering their prices and don't seem to want to retain me as a customer of 20 years. You are spot on with dealers not valuing creating relationships with their customers. Sad
Love Edmonds
I recommend shopping based on the dealer, including who’s best after sale, than being locked into a particular brand.
Sad? It's capitalism. They don't care about you, just your money. Just like republicans.
@@bck0001 great idea, so true. Thanks.
@@justjen4125 thanks for the kisses Jen. I’m over near gig harbor
We were getting our Honda CRV serviced recently and were looking at new ones in the lot and prices are ridiculously marked up from MRSP! They have been offering deals every couple of months on lower interest rates but still prices are over the top. We are waiting until we see prices drop before we purchase.
Love the vids, great work!
I really appreciate the support, thanks man! 🙏🏼
I’ve been hearing this for this for over a year now. Prices haven’t dropped any.
Same in my city and the two cities next door. They are refusing to drop prices. In fact, last winter, prices went UP so they were hoping to really rip people off. I never saw any customers in stealership lots when I was driving by.
Yeah I know a lot of people have been claiming this for a while but the numbers don’t lie. Something has got to give in the coming months or so many dealers will be forced out of business. 🤷♂️
If you understand days on hand and critical mass you will hold on a while longer.
@@user-gv4cx7vz8t I doubt it. I've been waiting a YEAR. I give up. If my car breaks down, I don't know what to do next. May be forced to buy a Tesla but that will be when I can't stand riding a bus any longer.
@@largol33t12 Could you get basic transportation good for a year or two? I knew a professional man who bought such disposible cars for the very low total cost of ownership. This would give time to evaluate the tsunami coming for internal combustion. Patience will bring clarity and very affordable new EVs.
Totally agree about the pointless tech. I have never met ANYONE who said that the infotainment system was what they liked best about their car.
I’ve been looking at the 2024 Civic Touring model and I was surprised when the dealership offered me the car at $2,800 under MSRP. Honda has a good deal on financing currently too, 2.99% for up to 36 mos and 4.99% for 48-60 mos. Seems to be more inventory available now. It’s very tempting. Thanks for an informative vlog!
✌🏻👍🏻✌🏻
Thank you for great information👍😀
Dealerships are stacking up here in eastern NC… especially Dodge/RAMs. Btw, your neighborhood is fascinating!
I couldn't help but wonder.. are trees banned out there? 😆
Yes to above too...
What area are you in?
Good ole Wyoming! Haha yeah there’s about 14 trees in the entire state. Haha 😆
@@UntamedMotors I have a cousin lives in Wyoming. She said it is starting to get crowded in her neighborhood. She said on a clear day she can see smoke from her nearest neighbor's chimney. My son in law hit a deer and has been driving one of mine for the past 2 months. He is picking up a 9 year old car tomorrow. He couldn't wait any longer (he felt guilty imposing on me) but at least it isn't new. While helping him I got the fever and started looking at new ones. I am going to take your advice and stop thinking about it at least until spring.
@@denniswilson9317 haha that’s awesome! Definitely getting crowded by the sounds of it. Nice of you to loan your son in law your vehicle for a minute 👍 bet he really appreciated that.
Yeah patience will certainly lay prove to your benefit right now.
Man, my vehicle died Christmas day, so I'm trying to hold off and save up for a down payment, but it's killing me being stuck at home all the time. Luckily, my job is work from home, so I can still live without a vehicle, but it's pretty frustrating.
Hope you're able to get into something soon!
I am pretty much in the same boat. luckily I have a car I can borrow, for a while. this market is insane. I see the same car that just died, same mileage as when I got mine.....tripled in price. my pay sure hasn't tripled over the same time frame. frustrating how we are caught between the greed of the car industry, and the willingness of other consumers to overpay based on want, not need. consumers have their part in this, and that is not being talked about near enough.
Died how? Fix it.
@@Banshee365 "fix it" is easy to say. However, for some of us there are jobs beyond our capability. I don't know why I run into this mentality so often. Must be the inability to consider circumstances outside their own. IF you have the proper place and equipment? Then yes things can be fixed. In my circumstance, removing a transmission? Is beyond what can be done. Labor rates, in my area have skyrocketed. My car was a 2001 vw Passat. The torque converter had failed. Along with the heater core. That was going to be over 3500 in labor alone, nevermind parts. On a car I had gotten 12 years out of, bought at auction for 2700. It is time to move on. Being that the were numerous other issues that also needed addressing.
@@Banshee365 Sometimes fixing a certain issue may be much more money than the vehicle is worth. Buying a new engine for an older vehicle will be extremely expensive, but then other components of the car can go out as well. Then you may need to replace the transmission. Money wasted. It all depends on the situation and what that owner can afford
Thank you for this information.
Appreciate the kind feedback! Thank you. =]
Thank you very much for this
I was gona go look at them soon but youre video really helps
People are buying ice cars like mad on the second-hand marked, some selling almost MSRP after 3-5 years of use. Crazy. And the EV cars are not being sold at all. The second hand marked is a treasure trove of pretty darn good underrated EV's with low mileage now, because they ain't selling.
My last 6 car purchases, 5 was fron FB market lmao, FB should be a used car sales, offering financing 😅
Good report lots of detail thanks.
Thanks a ton man! 🙏🏼
Your the only car channel that even uses the term floorplan, glad I found you.
I love all the buttons and neat features on the new cars. I always get an older car because I want the best of 6 years ago lol
Haha solid play. Let someone else eat the initial depreciation 👌
I just want to be able to buy a low mileage car 2-3 years old for a reasonable discount over MSRP. In 2013 I bought a used 2011 Acura with less than 20k miles on it for $23,500 from a private party. Sticker in the glovebox was for $36k. Maybe those days are gone, but I would still like to get at least 25% off for a similar situation today.
2013 was a bear market with a still slow/ "recovering" economy. This is still a bull market with the lasting effect of supply chain lockdowns and reduced supply. Give it a few years it's not like we run some new fancy modern AI recession proof economy. One will come sooner or later and have a massive impact on all markets.
Yeah times were strange during the pandemic. Prices of used vehicles 2-3 years old were dang near identical to those of new vehicles 🤷♂️
@UntamedMotors unfortunately I have a leased car and it's up next week. Would you suggest I finance it and keep it? Depending on the rate? Or go for a new one? From what I read online I can get one a low as 0% apr financed this time around of course. Because leasing was the dumbest decision but at the time I didn't know any better. Please any advice will help as I have to take it back in a few days! Thanks!
@@84848AR depends on what the vehicle is and its current value. Do you like the vehicle still? It’s an easy out if you’d like something new.
@@UntamedMotors ah I see well honestly I'm not in love with it but also I didn't even use it much only put 10k on it so basically new car and its 20k to buy it so that's why idk what to do. I know I don't want to spend lots of $$ on cars anymore but also doesn't give me joy when I do use it lol I know complicated.
Your advice is gold!!! Esp to new car buyers or in general, non informed inexperienced car buyers.
It’s a some sick practices happening out there in the world of auto sales i’d say we’re lucky to have u help combat the vultures. Good work!!!!!
Good advice. Thanks!
Thanks for watching man 🙏🏼
I agree, supply and demand is as reliable as gravity.
Well one things for sure, the interest rates are never coming down this year. Unstoppable force meets immovable object.
Yeah it definitely seems that way… I’m still hopeful they will. 🤞🏻
Honda is offering 2.99% and 4.99% depending on how long you finance. That offer is valid until the end of this month. Not bad!
✌🏻✌🏻
Liked and subbed. Agree completely. I was car shopping the last couple weeks and ultimately decided to hold off, and I’m glad I did. It’s a want to have - not a need to have. The accord will continue along.
Thanks brother! 🙏🏼
I think you made a good call. Patience will pay off right now.
Thanks for the info. I’m curious where you filmed this at? Love the lot sizes and openness.
I’m not seeing huge discounts. I too keep hearing that floor plan lending is sparse and all that but dealers seem to be holding the line price wise-even as their inventory mounts
Dealers will legitimately have NO choice but to discount the crud out of their inventory if they want to stay in business.
That sky and landscape is beautiful. Sign me up
Haha thanks brother. Good ole Wyoming!
Great summary. Research market disruption patterns when new tecnologies take over. This will be as big as horse and buggy to automobiles. Subscribed!
Thanks brother! I’ll look into that.
Appreciate your support. =]
Love this video ...I need to buys soon so this was very helpful thank you
Thanks a lot for such good advice. I am now looking at less than 5000 dollars vehicles like pathfinder, Tachoma or Forester.
My pleasure! Thanks for watching. I think you’ll be happy you spent less now. 👌
In CT there are 5,000 dollar mark up on Maverick
Psh that’s just ridiculous smh 🤦♂️
And that supposed to be the cheap truck everyone can afford. Well.. dealers don't think so.
Thanks for sharing your insights
Thanks for tuning it man and providing the kind feedback. Much appreciated!
Looking @ the new gmc 2024 canyon and looking @ 2024 Tacoma and will give the 2024 Colorado a look also, but between the canyon and Tacoma these dealers are keep saying they never make it to the showroom floors they sold and I think for sticker price is, and then I’m seeing a lot of people having issues with the computers on updates and all the other good things with these vehicles, I hope you right on these dealers with to much inventory, but I’m also seeing the dealers not taking a lot of inventory on these midsize trucks because they keep raising the price them cause people do not want to spend 70-80 thousand on a full size truck, I get it I pd less then 40 thousand for my 2012 ram but in 10 years the price has more then double, it’s just crazy
I remember paying 32k for my last RAM around 2012. Quad cab, not too many bells or whistles, and had end of year rebates too.
I’ve noticed prices dropping on F-150s in central Oklahoma come down 10k on XLTS, currently working on getting an XLT down to 40k. Down to what they should be!
Exactly
4x4 ???
Such good informative video, thanks to your brakedown I am now holding on on buying a car, I’ll wait it out and see what happens, thanks again
Great video thank you!
Thanks brother! Appreciate the positive feedback! =]
Raptors in my area still marked up $10-$50k depending on model.
Yikes. Definitely look out of state. Where are you at?
@@UntamedMotors Utah
Maybe you can't afford the highest trim F150. Maybe you should be looking at a different model you can afford. Just a thought..
Just bought a new maverick at MSRP. Base model. No BS dealer markups. Felt very good about my purchase.
Only downside was higher interest rates but not too bad.
Dealerships make at least 5 grand when they sell a car at MSRP.
Untamed Motor Man ! Nice work .... Thanks
Hello from Cheyenne, WY, thanks for the video
Hey Neighbor! Appreciate you tuning it, thank you!
I'm in between buying brand new or just picking up a reliable old Toyota and keep stacking my chips. One thing is for sure, I am not paying these absurd prices OR interest rates. I think everyone should keep waiting till we see prices come down or more dealerships close down, whatever comes first.
Patience will certainly pay off right now. 👌
I will take your advice and wait till April.
Think you’ll be very happy you did. Dealerships will be overflowing by then.
I haven't seen any price decreases here in Westchester NY and within 75 miles of it. Looking at similar cars for the past year and they've pretty much remained at a similar price.
Me too they’re trying to charge me 8.5 %
He said April. Is it April?@@alb0zfinest
Great info
Great analysis. Once I realize you’re a fellow Coloradan, I subscribed. Keep up the good content!
I remember back in the day my local Chevy dealer marked up a new 1990 ZR-1 like 40k. Fast forward 30 plus years later and a buddy of mine bought it for 35k, brand new, never titled. They marked it up, sat on it, stored it for years, and in the end…gave it away. I laugh
Haha serves them right for succumbing to that greed. 👌
I've seen many channels talk on this subject and I belive you all are missing something. Have you ever looked at Harley Davidson dealerships and manufacturing. Look at their history, back in the 1980's demand for their bikes went through the roof. We dedicated Harley owner's called it the yuppie craze. Every suit wanted one and the price for one dubled. People were demanding that HD add more assembly lines to their plants, they didn't do it. When the yuppie craze was over HD survived, their company is still doing well. They have a good relationship with their dealerships why? I say it's because of low production rates that keep demand high, so dealerships want to stay in good standings with manufacturing which gives more control to HD over the dealerships. Auto dealerships are doing what they want, they are in control and destroying the auto brands names. Watch Ford, Jim Farley tried to get the steelerships under control and it did not work. Now after the UAW strike he has loaded the dealerships down with cars which puts a high cost on their floor plan. This will do two things, one they don't need more vehicles built so they can lay off workers right after a strike. Two with dealerships having the high cost of their floor plan (interest rates are high) and vehicles sales are slow this will force steelerships to drop prices and/or go out of business. We have already seen this in the used vehicle steelerships, they are starting to drop like flies. I believe if you want a new vehicle timing will be everything. Because in the end HD never really dropped their prices after the yuppie craze and they are still selling them. I also think that this will reduce the amount of dealerships overall. Our town of about 700,000 people don't need 3 Ford dealerships when we only have one HD dealership. Maybe I'm wrong, it's just my opinion.
This is very insightful, thank you for sharing. Solid points 👌
Interesting point about building up for layoffs. Thanks for the share.
Great content Untamed.
Thanks a ton brother! Really appreciate the support. =]
Went in to a car dealer and their selling price was two dollars off the MSRP window sticker. So it’s safe to say buying a car right now is still a bad time. Used pricing is slowly coming down but has yet to stabilize.
Dude, stealerships need more people like you. Preach!
Thanks brother =]
Thank you UM and I do agree with the logic. It’s most likely a path downward from here.
To stress test it the other way…are there any market factors that lead to vehicle prices further going up from here? I believe not.
I’m in the market for two vehicles. LX570 wife + LC HE me. I’ll keep searching to have a close view of market trends, but holding cash close until we see a natural correction on this sine wave vehicle prices have been riding. And sine waves tent to oscillate.
Great taste in vehicles btw 👌 💯
Yeah man, it’s only a matter of time…
Keep dropping!
I love your videos man.
The Dodge/Ford dealership near me is packed full of new vehicles.
It’s only going to get worse in the coming months. They’ll have to sell at huge discounts or they’ll face going out of business… =\
The 2024 Honda CRV Hybrid Touring had a slight MSRP drop here in Canada. I hope it becomes a trend in our market, but I’m not holding my breath because the Canadian dollar exchange rate has been horrible for the past few years.
Don't forget our absurdly high taxes, carbon taxes, and immigration continuing to cause inflation.
I bought one for 4k off msrp.
That is a promising sign nonetheless 👌
@@JasonJordan-co9wdcongratulations! 🙌 Hope you’re enjoying it.
Gotta get a jab in eh? Move to the States.@@KS-dk9cd
I have noticed in Florida, most dealerships in Florida have cut drastically back on inventory. They have empty lots
Am on the market for a 2008 generation Pilot or Highlander as we need the extra room in our secondary vehicle. Currently driving a 2006 Odyssey with 210,000 miles on it. Do you think it would be a good strategy to get into car auctions, if what you're saying is true?
Untamed what you don't understand is the above MSRP dealerships don't care about relationships. If they did they would not charge above MSRP. The above MSRP dealerships are also screwing their customers within their service departments so those relationship are already bad.
Hendrick is the worst dealer in the world. Greedy bastards
My God, you have no idea what the hell you’re talking about. Scary.
Yep, which is why we should let them fizzle out now. No need for those types of dealerships. =]
Hold the line…!
Haha amen to that 🙏🏼
Thanks for the info. Issue is they don't want to make affordable vehicles. They can just make less vehicles and increase demand, but they won't survive doing this because there is a limit to even what the government or rich can afford too. Dealerships have a lot of expenses, taxes etc. So selling direct may be their only option in the future, for the manufacturers.
looking to purchase a new telluride SX Prestige using cash this summer, any helpful suggestions?
I think lower prices are definitely ahead because if Dealers hold on too long they will have to liquidate quckly to avoid bankruptcy, or in bankruptcy, If they are smart they will drop prices preemptively to keep themselves from a panic later. Either way I just can't see prices increasing even this year. There are a lot of young adullts that have never even seen a real Recession. I'm no expert, but at 75, I've been through a lot of downturns and prices can fall much further than people imagine. Just about every economic indicator but Stock Prices are saying lower prices ahead for a while. The Automakers see it too or they wouldn't be planning on dropping MSRPs and giving huge concessions.
They aren’t dropping the MSRPs though
Yeah, at some point people need cars and they sell them. Supply likely can’t go much higher and demand much lower… If you need a vehicle, get the best deal you can at the time. Everyone thinks they know the best time, but is all a guessing game…
And as a practical matter, the cars that are sitting on the lot can't literally just sit on the lot in the long term. If a car is just sitting and doesn't get started or driven occasionally you end up getting rust on the brakes, dry rot on the tires, the gas goes bad in the tank, and of course the car is more and more likely to need a jump start either due to parasitic power draw or battery self-discharge over that much time.
You’re absolutely right. The overflowing inventory will put them out of business within a year based on their floor plans alone. They have no choice but to discount the crud out of their inventory. 👌
Not everyone needs a car. Most retired people don't need a car to get back and forth to work. If you live close to a major grocery store like I do you can walk to the store to get groceries. For me it's a 5 minute walk. There is also the ability to pay all bills online.@@jonathonsantamont8527
Thinking about importing myself a nice 25 y.o. 70 series LC from Japan and drive that baby for years to come. It’s cheaper, certainly has more “cool” factor, and reliable.
Man, that sure sounds nice 👌 😌
Great video. I like stats and numbers rather than conjecture, so good job. Also I think you might have misspoken at time stamp 1:28 when you said "935 units". What I think you meant to say is 935,000 units since you were saying unsold inventory on lots is 50% higher compared to the same time last year. Not trying to nitpick. I know how challenging it is to cite stats, one after another, even when you know them by heart.
Thank you for sharing your insightful wisdom. It'll be a win and leap forward if consumers are patient enough to wait out this trend of greed by car dealerships. Thanks again, sir.
Thank you for tuning in!
It's been the worst time to buy for 10 years. Yet I bet it's still record breaking profits for everyone.
Worst quarter on record for most manufacturers… and that’s extra concerning given the end of year sales generally drive huge volume sales.
I say forever the worst time. Used vehicles selling just below original MSRP on 5 yr. olds is unheard of until now. :)
I've been watching MK5 Supra prices fall. Once they hit high 30s for the non-4 cylinder, I'm going for one. That might not be the bottom, but it's way better than it has been the last couple years.
Oh yeah much more bearable 👌 love supras!
Thank you for your channel. You are very smart and know a lot about the car market right now. I live in Denver, and am carless at the moment, I can’t wait for this car market to crash on itself
I appreciate it brother. Hope you're able to get into a car soon at a solid deal!
Got a subaru BRZ on order. Subaru in particular has resisted retail markups through the last couple years so are probably going to be hurting a lot less than others. On pickup I'm sure going to try to knock a thou or two off the OTD even though it's a low volume high demand car.
Pricing are not going to drop over the next couple of months, and that’s mainly due to the fact that it’s tax season. Yeah, pricing may drop in the above $40k category, but anything under that, you can forget it!
That's exactly right
So you are saying people will use tax refunds as down payment on new cars - instead of paying down record high credit card debt? That would be stupid. So you’re probably right.
I think tax season will have a small impact and mainly on cheaper used dealer lots of vehicles $25K and less. Not so much on the 50K+ vehicles.
The IRS reported that tax refunds for 2024 will be substantially smaller compared to the previous years.
I noticed a bunch of new Ford trucks and vans parked behind some bushes at an abandoned farm. They must belong to the Ford Dealer about 3 miles down the road. However I don't expect Ford to lower prices. High margins are addictive and Ford is hooked. The only way they will really lower prices is through an economic intervention.. ie a recession. My best guess is Ford will actually cut production before they do any meaningful price cuts.
Haha they’re likely hiding them out there so they can claim lower inventory… smh
Subscribed, currently trying to buy a vehicle, later this year I was looking at the 2024 Chevy Trax for the kids. I’ll have to keep doing some research.
Good to know I'm painting my 09 Pilot and fixing the leak hoping for lower interest as well.
We want vehicles with all the bells and whistles, we just can’t afford them. Lol
I do not want all the bs. Tracking software, remote start that can be hacked. Auto detextion turn the dials push the buttons when i do want it done, and extra weight.
Noy to mentuon yhe electircal system being increasingly vulnerable and complex..
But yeah most people want that junk.
If I could get a 90s car with 90s tech, I would without a second thought.
That’s the problem, people wanting a lot of electronic Nannie’s so they can play with their phone instead of driving. Manufacturers are happy to provide them and Jack up the price accordingly. Now you can’t get a basic transportation car at a reasonable price and you pay through the nose when those fancy options break.
@@robbay8610 those cars are everywhere. But you have to use money to buy them. And isn’t this entire TH-cam page dedicated to whining about having to pay for things?
Yee-ter
Dont buy ..... dont buy, we have the power
Patience will serve us very well right now 👌
Good video! I worked as a dealer Technician for years and prices are absolutely insane! I cant believe people are willing to pay that for a depreciating assets. Also cant believe the KBB used value of my 20 year old plow truck superduty is almost half what i paid for new? 🤔
Thank you! Yeah I agree.. It's wild how eager we all seem to be to get into a losing asset. idk...
Great advice...I'm patiently waiting to get my hands on a Tundra Hybrid Trd pro in Lunar Rock!
Nice! Love lunar rock 👌
Thanks man
My friend just got a great Acura on FB for $5500. To hell with Vroom and buying a car without seeing it, inspecting it or test driving it. Bare bones model has less that can go wrong
Awesome. Your friend made a wise decision. Amen to that 🙏🏼
2:07 I was at my local Honda dealer, they have been playing a game, they bring one of each car on the lot and say we only have the ONE Accord on the lot, 11K markup, then drive around the blind corner they have over 150 Accords on the lot.
The MSRP on a Civic Sport w/manual was 26K 2018 Nov. today it is 33K, 7k markup on MSRP plus 11K in dealer add ons.
I guess they're going for the other end of the demand curve? You have two points on the demand curve for "maximum profit" , one higher volume lower price, one at a higher price but lower volume.
But, of course (other than the claiming they only have one left being pretty shady) they are also forgetting that Honda is going to expect them to take in more cars so they're really going to want to get that backlog out of the lot sooner or later.
That is just insane… feels borderline criminal if you ask me. So deceptive. 🤦♂️