it's because they can't keep them on the lot. Same for 86GR and 86Supra. I would like to test drive both, but can't find one near me. I live in northern Florida.
Dealerships would prefer to lose money or fold before they give consumers great deals. They want to maintain the status quo at all cost. They must have a lot of cash to burn.
dealers make their money on used cars, not new, for the most part, unless it's a hot selling car, as per my comment above, like the 86GR or the 86Supra.
I just got 2k off MSRP on a 24 Venza LE after shopping around following advice I learned from this channel and others. 38k out the door of which around 2200 were tax title reg. Great videos and I can't thank y'all enough
My local Nissan dealership in Richardson TX is so desperate to sell cars that they sent me a email recently that they want to give me an additional 5,000 dollars on top of the 3,450 dollars my 2017 Nissan Sentra to trade it in. They also said they would allow me (since I qualify) 0% interest up to 72 months on any Nissan car or truck on the lot. Car dealers are getting desperate.
0% interest is tempting.....but paying cash is even better. Of course, you may want to go through the motions of "financing" through the dealer if it helps the sale. Just make sure you can pre-pay the loan with no penalty.
0% is free money - ONLY if you want the car, simply do the math & put the "interest" money into a money market account each month and when there is parity of the payoff & the account, pay the loan - your credit rating will skyrocket and leverage that for any future loans you need. You have 6 years at 72 months....
Ha. I contacted a Nissan dealer just today and offered a price what they were advertising as the out the door price ($53k) plus the NMAC 0% interest. They laughed (2024 Titan).
I just paid cash for a 2019 F-150 from a GMC dealer. They had marked down the price nearly $8K and it was an okay deal, not great. They would not sweeten the deal one bit. Then they asked me to complete a survey after the fact, so I told them the manager was an asshole and the finance guy was a dick. One of the managers called me to bitch me out within minutes. He only proved I was right. Frankly, if they fail, I will not feel bad.
if they marked it down 8 grand and you bought it, then that price must have been acceptable to you? And you think they are the assholes and dicks? If you paid cash, why were you talking to the finance guy? I call BS.
Could you guys expose how much automakers like Ford are adding onto ICE vehicles to subsidize EV development and related costs. My view is that any such amount should reduce the MSRP before you negotiate the final out the door price.
AKINS FORD DODGE RAM in Winder Georgia is a large volume dealer. Their very large lot is packed with new mostly Ford pick ups and SUV's. There must be 400 or 500 new vehicles. I don't how they are doing it. The lot was about one third full a month ago and now it's packed full
The idea here is to drain capital from EVERYONE. In this case, it's the Dealers turn now to be drained. All that "family wealth" that those dealers have is being taken away by the car brands that at the end belong to BlackRock etc. The big fish is making sure NO ONE has any resources left. If you want to think they just raised prices and don't have a clue on what they are doing... I GOT A BRIDGE TO SELL YOU. 😂
I always drove Fords for 43 years. Then I bought a 2017 Equinox which was a fine car. I sold it and bought a used Pacifica because we needed the room for changing needs. It has been. A fine vehicle, too, despite the advanced miles. My dad worked at the Sterling Hts, MI axle plant and retired from there in 1980. My sister gave up on Fords before I did. Not so much because of issues, but more about lower lease prices elsewhere. She's had several Nissans, currently leading a Rogue.
there are cars and SUVs in that 35K range that are great, numerous from Mazda, Kia, Hyundai, VW for example, at a certain point, the consumer does play a role in not forcing themselves for various, meaningless reasons, into large, premium trucks and SUVs that they cannot afford. i agree that the automakers and dealers play a big role, but as long as consumers are willing to put themselves into higher-priced vehicles they cannot afford...they will continue to offer them...
Easy fix to all the car problems . Go back to the way it was in the early sixties you go into the dealer and your order a vehicle they get the vehicle that you want built the way you want it you come pick it up done deal no floor plan
Love the 10% rule for buying a car. I go a step further and do 5% rule. Cashbonly when i buy a car and theyvare beaters usually. Most people in CA are living by the 200% rule. Buying cars way way way above their means. Dudes making $30k buying new Escalades. Out of control. How are banks even approving this. Insane!
Hopefully they will start producing more affordable vehicles that more people can afford to buy. I would love to buy a new car or really a pickup truck. But I will not pay the amount they are asking for new vehicle's and they have all have had tons of recalls so I don't trust buying a used vehicle at this point. Even the old reliable companies are now having major quality issues. Soon people will be doing like several are doing in my area and that is having 4 plus older vehicles that they can work on themselves and they rotate them into and out of service as needed. I would rather have one newer, basic, affordable, and reliable vehicle like we used to have available.
I’m trying to buy a Jeep gladiator for the last four months and none of these dealers are looking to make a deal. I just left dear in North Carolina with hundreds of them in stock and all they want to do is take 4000 off the MSRP. I think so many dealers have such deep pockets they can afford to sit on inventory until the right person comes and buys it
The sad fact is that is that dealers will still play their sales game and look for a sucker before they break down and sell a car for what it should sell for. They got spoiled by covid prices and they won’t learn their lesson until they have a really really bad sales year. Habits are hard to break.
Well said. Rippin' good! A successful dealer negotiation is one in which you are time-efficient in convincing the sales manager without seeing them at all, through an intermediary who might have been washing cars a week ago and who is now "selling" them, that you are not their sucker and do not wish to have additional time wasted. Time to Talk or Time to Walk.
been looking at some used trucks at some local dealers. Ive been told by one that he rather auction the truck then make a deal w me to sell it. 2nd dealer told me "they priced the truck aggressively..." i was offered 500 off the list and thats the best deal. All these dealers are sitting 25k trucks and are not moving while proclaiming these are deals
@@mikes2687ram 1500 are selling new at the same price as pre c19 prices as well as sierra customer at some dealers…..they are selling in the low to mid 30k
@@mikes2687what state do you live in? Look at dealerships in your state or neighboring states with high inventory. They literally have “used” 2023 models with 10 miles to a few thousand miles for low to mid 30k. There were a few rams that I’ve seen selling for 28k in Illinois, Florida, and California at cdjr dealerships
There needs to be a federal Truth in Advertising law. The price advertised on the dealer websites should be the price- clear and present- not hidden in the fine print.
The problem is that current MSRP's are just wish lists, and not the actual value of current vehicles. All MSRP's have been so artificially inflated that a return to true values will cause a crash.
$250,000 earners should be 100% of new car buyers in this market, they can pay cash! If you need to buy go to a dealer with new 2022 still sitting, find out average trade in value on 2022 with 500 miles offer dealer that plus $500 or work deal your satisfied with!
You guys are so entertaining. I am not even actively looking for a new car, but you guys are fun to watch AND you always have good information. It is helpful to learn more about the mysterious automobile industry (IMHO most consumers are simply not prepared, and are easy "marks" for unscrupulous car dealers)
Ok, so everyone says the govt will not bail out the car industry this time around. If current sales are being propped up by fleet sales (including govt agencies), doesnt that act like a stealth bailout in the end? If said agencies end up dumping inventory at auctions for much less than what was paid, then doesnt the taxpayer get hosed with the losses in the same way as a typical bailout? Hot take???
That's good advice. Some people NEED a newer car....but most of us, just WANT something newer, better, fancier. Paying interest at these levels for that WANT can be very painful in the long run.
@ted356 the problem is that consumers hold onto cars for 10+ years and they're forced into buying a new (or at least a nearly new) car 🚗 because the car they have is either worn out or totalled. 20% of buyers paying $1000+ for a car (a deprecating "asset") payment is frigging ridiculous. We're going to end up with the rich driving cars and the rest of Americans 🇺🇸 riding the transit bus. Don't blame the government, blame the economic system. 21st century late stage vulture capitalism 😂 Thanks capitalists.
Not necessarily true. If you pay cash the dealer doesn’t make money on the financing of the vehicle and they jack up the price of the car to recoup. If you’re going to pay cash DONT TELL THE DEALER until you negotiate a price INDEPENDENT of the financing or monthly payment. If you can the best deal is a zero percent loan because everyone wins
and yet, dealers and online retailers are playing around with discounts. I was tracking a few models across sites inclduing Tesla and noticed a steady drop followed by a rise to pre-drop price. Not sure if this is to catch any buyers thinking they'd immediately get the best price on the last days of 2Q/1H
4% to 16% is a 300% increase. Maybe dealerships and automakers should go to a consignment system. Dealers pay zero interest (floorplan). Perhaps then some models will not end up with a 100 day or more supply and having 2022 and 2023 models in stock would diminish.
I have been in the auto industry forever. I think people put way too much weight on vehicle recalls. At our Chrysler store for example most of the recalls were just simple bug fixes via software updates. Then there are volunteered recalls and forced recalls. To be fair, a safety recall for a vehicle stalling at highway speeds and a radio update should be considered different. Total company recalls DOES NOT necessarily reflect a product being "unsafe". Consumers should know this.
The way new car affordability is going I suspect the Rental Car Companies buying will increase over time, because a big percentage of people who will be able to afford a nice car for events, vacations etc are going to be those who can't afford to buy one, they will rent only for special occasions and drive a junker as their daily drive. Automakers could take advantage of this trend by offering less expensive entry level cars but they won't give up the big money until they have to....maybe in Bankruptcy Court.
$6.00 a day is the average amount a dealer pays in interest for every vehicle on the lot that is floorplanned- not taking into account any curtailment payments. A lot more than what it was costing them pre pandemic.
The federal government is spending taxpayer funds to purchase these fleet vehicles though grants to local government agencies, notice the new SUV’s the police have?
A well cared for used vehicle is really the best way to go for those who can wisely manage it. Right now interest rates make that a tougher proposition.
My wife and I with 2 kids out of the house. We make close to a quarter mil, but I'm not willing to suffer the depreciation of a new car. Although we will probably have to get a new car within the next few years. No one ever spent their way to wealth.
Still hard to buy new cars, when trying to trade my 2022 Mustang GT Premium with less than 10k on it and they don't want to give me a fair price on the trade, the car is like new condition. Does your Car edge buying service work with trades or am I better off to sell the car myself. I bought the Ford 10-year extended warranty that can be transferred to a new owner for under $100. Even looked at some 2023 Mach-e that the dealers can't sell, and I will tell them they could sell a 2022 Mustang GT faster than a 2023 Mach-e, and they will give another $100.
Well you're in it now. I think I'd keep the '22 GT. Take good care of it, and pay it off. There's a good chance that the "car market" will look much different by that time.
Is more cost effective to lease a new car at 12,000 miles a year, for 3 years then buy it. Or buy a 3 year old used car. Assuming both are similar brands and models?
I make 1/4 of 1/4 of a million (around $60,000). In 6 months, I want to buy a low mileage 2020 or 2019 Dodge Grand Caravan. I'm hoping that is good timing in this failing market. It'll take me that long to save up around $20,000. I could cut that time in half, if need be, by financing $10,000(ish) and putting $10,000 down (then pay it off in 3 months). Should be some good prices out there then, I'm hoping.
I drive a 2011 Hyundai and need to get another vehicle before winter because my headlights turn off randomly. All the service centers have told me that fixing this electrical issue would be too expensive given my car’s age. Next question -new or used? Lower interest rate, higher payment OR higher interest rate with lower payment?
Used obviously, you avoid the depreciation of a new car & save $$$. As far as what kind of loan that really depends on your credit rating and what you can put down. Obviously the best is a big down payment, low interest, and the biggest payments you can afford so you pay it off faster than it loses value.
The percentage of people making 250,000 went up because the number of people buying cars making less than that has gone down. People making 100k or less aren't buying cars. So that will increase percentages of sales go up in other income categories so adjust to keep the 100%¿
The kicker of all this is the artificially inflated prices from the manufacturers which make a $2000 discount Penney ante. With this sucking economy nothing less than a 20% discount is even worth looking at.
a basic 7.3l dully gas truck should be affordable so as not to cause over prices of your services.. evil is the issue no one need a loan over 5 years or so on a home much less a car 2 years max
7:44 - So the dealership is paying more for the higher end cars if I’m understanding this correctly. $200/month average… so a high end, $100K may cost a $350 or $400 per month housing fee… doesn’t seem like the dealerships would want to order so many of these higher trims unless they sale quickly. Yet that’s about all that seems to be on the lot… if it isn’t it limited, then it’s a platinum or Denali… makes no sense for anyone but the manufacturer and government “value added” tax advocates. Please explain why they are still making the decisions to build top trims and add new technology when the old basic 7:44 work trucks were plenty good enough for previous generations.
If manufacturers didnt have to add so much to cover the EV experiment, dealers would be buying and selling at a much lower price, selling much faster, and the interest would be on a much smaller amount.
Drop the prices 30% and they will fly off the shelves. I work for a global company that is shedding all Fleet Vehicles and telling employees to get their own vehicle for work use, new or used, and they pay per km or monthly allowance. Cost of fleet vehicles was getting ridiculous. My 2019 Dodge Grand Caravan cost fleet $17-18k cad. Chrysler dropped it and now a new Dodge Grand Caravan costs $50k cad plus taxes, total $58k triple the cost of fleet pricing before. Many had the Equinox, but the turbos are blowing up along with other issues, so company fed up. It's a 88 billion dollar company. Imagine how much Car companies just lost in sales. Yeah workers will buy new or used vehicles now. But the huge orders are gone. Thanks to greedy car companies.
What about when these new trucks come out that they were supposed to be $8000 they’re going to actually be in the United States except for a couple of them
I live in a trailer park, eat Shake and Bake, and watch Nascar - and I'm proud of it. If you don't like trailers, Shake and Bake, or Nascar, something is wrong WITH YOU, not me!!
Retired 20 years now and needed a new car. Last month I purchased a new 2023 leftover compact hybrid. Didn't want to take on a loan at today's rates so I paid with cash taken out of my retirement money and got the car at 4.5% below MSRP. The thing that really pisses me off is the fact that the same vehicle 5 yrs ago had a sticker price over 45% less than today. The whole lot of them from the manufacturers to the dealerships are a bunch of 🤡🤡🤡🤡🤡🤡. I have no sympathy for them at all. What comes around goes around. I hope Karma hits them big time!
I'm with Ray. I am/was also in the business. Why do people buy these recalled and other POS cars. Then the same people why Toyota, Honda, and Subaru cannot keep them in stock.
All the Ram dealers say that and they're straight up full of it went to 16 of them before I ended up buying a GMC they have endless inventory at the CDJR dealers and they aren't budging on prices.
Do you want to know why cars are so expensive? The government and cafe standards. Let's it started with seat belts, now it's back-up cameras. I drove for years without one. So now you have a cheap little car but it has to have a back-up camera and this and that and the other thing. And emissions. So they have to build electric cars that no one wants to keep their efficiency down for the fleet, right? If the government would keep their hands out of the cookie jar, cars would be way less expensive. But it's okay that the government spends $90,000 for a bag of bolts when you can buy the same thing for 20 bucks at Home Depot. If we truly had a free market, a lot of things would be cheaper. Don't blame the car companies, IMO.
No flame, but the CCP can go to hell. Never, ever trust a communist. Many/most of those companies are government owned and controlled. This is NOT like VW importing the Beetle, or Toyota hoping to import/sell vehicles in the US in 1959.
Car purchase is increasingly a losing gambit. Depreciating value on a new car makes it a bad purchase no matter the price. Going into debt for a new car isn’t recommended. Buy a used car with cash and save your money build your emergency fund to 6month salary save for the next used car purchase
Awe the pour dealerships, they have to pay lot rent fees for so many of their sitting vehicles ( sales people are sitting inside the AC, playing tick tack toe, playing games on cell phones, talking wondering why they cannot sell the cars, how they can raise prices on services and unneeded car junk accessories , training on being aggressive in this tough market, being a go getter and making Maximum profit from customers ) days go by one customer comes dealer said best price on a Toyota carolla 35,680.00$ all the best features and warranties oh wait there is more, customer leaves not wanting to pay more than 20 grand out the door. Sales person says ok we can wait for the next customer, days and more days go by. The salesman are inside repeating their boring jobs, not making money. They are SUCKERS dealers SUCK
Over 47 years, I've bought only (2) new cars (+1 demonstrator model). I've bought some (10) used vehicles. I don't consider that a penalty. In fact, of my 2-3 favorites to own, most of them were bought used / low miles.
@@NVRAMboi Used and low miles today would still be out of reach for many using the 10% rule. That's all I'm saying. I'm not making any judgement on used or new car ownership decisions.
No Dealers. No Hassle. Serious Savings. Let the pros at CarEdge do it for you! ⮕ caredge.com/concierge
Dealers didn’t get the memo…..just stop by a North Miami Toyota dealer and they wanted $20k mark up for a basic Corolla GR…:: ridiculous
buy in texas. fly up one way
There's nothing basic about a GRC it's very limited and won't be around long
Preying on those that are not aware with what’s going on in the world 😮
it's because they can't keep them on the lot. Same for 86GR and 86Supra. I would like to test drive both, but can't find one near me. I live in northern Florida.
I don't care how limited it is if has corrola name ain't worth it 😂😂
The car industry "Bubble" needs to burst...
Dealerships would prefer to lose money or fold before they give consumers great deals. They want to maintain the status quo at all cost. They must have a lot of cash to burn.
This is the truth. One dealer told me he would fix the truck up and auction it up before making a deal with me.....i was just flabbergasted
@@mikes2687 well, at somepoint no one at auction will be buying
@elliott3991 oh i agree.
Been through it, they just let you walk… don’t call you back to negotiate nothing…. Cool walk away
dealers make their money on used cars, not new, for the most part, unless it's a hot selling car, as per my comment above, like the 86GR or the 86Supra.
I just got 2k off MSRP on a 24 Venza LE after shopping around following advice I learned from this channel and others. 38k out the door of which around 2200 were tax title reg. Great videos and I can't thank y'all enough
Maybe just maybe they should try to sell vehicles instead of jacking up prices, and acting like it’s 2021.
no, screw the consumer and pay off congressmen to bail us out.
I cannot feel sory for the car dealers, what comes around goes around. Glad to see the dealers have it come back at them.
Totally agree with you!
They got greedy and they’re paying for it
My local Nissan dealership in Richardson TX is so desperate to sell cars that they sent me a email recently that they want to give me an additional 5,000 dollars on top of the 3,450 dollars my 2017 Nissan Sentra to trade it in. They also said they would allow me (since I qualify) 0% interest up to 72 months on any Nissan car or truck on the lot. Car dealers are getting desperate.
0% interest is tempting.....but paying cash is even better. Of course, you may want to go through the motions of "financing" through the dealer if it helps the sale. Just make sure you can pre-pay the loan with no penalty.
0% is free money - ONLY if you want the car, simply do the math & put the "interest" money into a money market account each month and when there is parity of the payoff & the account, pay the loan - your credit rating will skyrocket and leverage that for any future loans you need. You have 6 years at 72 months....
@@morningbeachsunshine7496 Putting it in Bitcoin and you'll do much better.
Ha. I contacted a Nissan dealer just today and offered a price what they were advertising as the out the door price ($53k) plus the NMAC 0% interest. They laughed (2024 Titan).
Is it Courtesy Nissan?
I just paid cash for a 2019 F-150 from a GMC dealer. They had marked down the price nearly $8K and it was an okay deal, not great. They would not sweeten the deal one bit. Then they asked me to complete a survey after the fact, so I told them the manager was an asshole and the finance guy was a dick. One of the managers called me to bitch me out within minutes. He only proved I was right. Frankly, if they fail, I will not feel bad.
LOL. Thanks for giving me a chuckle.
👍
If the manager was an asshole and the finance guy was a dick, why did you give them your business? There are other dealers.
None of this happened
if they marked it down 8 grand and you bought it, then that price must have been acceptable to you? And you think they are the assholes and dicks? If you paid cash, why were you talking to the finance guy? I call BS.
Could you guys expose how much automakers like Ford are adding onto ICE vehicles to subsidize EV development and related costs. My view is that any such amount should reduce the MSRP before you negotiate the final out the door price.
@ronlee9984. Go to the website subsidy tracker and look at how much Tesla has received in state and federal subsidies since they began.
AKINS FORD DODGE RAM in Winder Georgia is a large volume dealer. Their very large lot is packed with new mostly Ford pick ups and SUV's. There must be 400 or 500 new vehicles. I don't how they are doing it. The lot was about one third full a month ago and now it's packed full
The idea here is to drain capital from EVERYONE. In this case, it's the Dealers turn now to be drained. All that "family wealth" that those dealers have is being taken away by the car brands that at the end belong to BlackRock etc. The big fish is making sure NO ONE has any resources left.
If you want to think they just raised prices and don't have a clue on what they are doing... I GOT A BRIDGE TO SELL YOU. 😂
I always drove Fords for 43 years. Then I bought a 2017 Equinox which was a fine car. I sold it and bought a used Pacifica because we needed the room for changing needs. It has been. A fine vehicle, too, despite the advanced miles. My dad worked at the Sterling Hts, MI axle plant and retired from there in 1980. My sister gave up on Fords before I did. Not so much because of issues, but more about lower lease prices elsewhere. She's had several Nissans, currently leading a Rogue.
there are cars and SUVs in that 35K range that are great, numerous from Mazda, Kia, Hyundai, VW for example, at a certain point, the consumer does play a role in not forcing themselves for various, meaningless reasons, into large, premium trucks and SUVs that they cannot afford. i agree that the automakers and dealers play a big role, but as long as consumers are willing to put themselves into higher-priced vehicles they cannot afford...they will continue to offer them...
Y. Ultimately, the buyer has all of the control and leverage.
Lots of people are trying to keep up with the Jones’s.
Easy fix to all the car problems . Go back to the way it was in the early sixties you go into the dealer and your order a vehicle they get the vehicle that you want built the way you want it you come pick it up done deal no floor plan
Love the 10% rule for buying a car. I go a step further and do 5% rule. Cashbonly when i buy a car and theyvare beaters usually. Most people in CA are living by the 200% rule. Buying cars way way way above their means. Dudes making $30k buying new Escalades. Out of control. How are banks even approving this. Insane!
Hopefully they will start producing more affordable vehicles that more people can afford to buy. I would love to buy a new car or really a pickup truck. But I will not pay the amount they are asking for new vehicle's and they have all have had tons of recalls so I don't trust buying a used vehicle at this point. Even the old reliable companies are now having major quality issues. Soon people will be doing like several are doing in my area and that is having 4 plus older vehicles that they can work on themselves and they rotate them into and out of service as needed. I would rather have one newer, basic, affordable, and reliable vehicle like we used to have available.
I’m trying to buy a Jeep gladiator for the last four months and none of these dealers are looking to make a deal. I just left dear in North Carolina with hundreds of them in stock and all they want to do is take 4000 off the MSRP. I think so many dealers have such deep pockets they can afford to sit on inventory until the right person comes and buys it
Cars should be sold directly online, consumers shouldn’t pay dealers interest, and their own.
Tesla…best buying experience I’ve ever had.
@@JCreole hopefully other manufacturers follow
100%
@@janjachymiak9013 They can’t. There are lobbyists keeping laws intact that protect car dealerships.
@@pojack9979 correct on the lobbying; however, it’s definitely possible, Tesla is selling cars online as we speak.
The sad fact is that is that dealers will still play their sales game and look for a sucker before they break down and sell a car for what it should sell for. They got spoiled by covid prices and they won’t learn their lesson until they have a really really bad sales year. Habits are hard to break.
Well said. Rippin' good! A successful dealer negotiation is one in which you are time-efficient in convincing the sales manager without seeing them at all, through an intermediary who might have been washing cars a week ago and who is now "selling" them, that you are not their sucker and do not wish to have additional time wasted. Time to Talk or Time to Walk.
been looking at some used trucks at some local dealers. Ive been told by one that he rather auction the truck then make a deal w me to sell it. 2nd dealer told me "they priced the truck aggressively..." i was offered 500 off the list and thats the best deal.
All these dealers are sitting 25k trucks and are not moving while proclaiming these are deals
@@mikes2687ram 1500 are selling new at the same price as pre c19 prices as well as sierra customer at some dealers…..they are selling in the low to mid 30k
@@mikes2687what state do you live in? Look at dealerships in your state or neighboring states with high inventory. They literally have “used” 2023 models with 10 miles to a few thousand miles for low to mid 30k.
There were a few rams that I’ve seen selling for 28k in Illinois, Florida, and California at cdjr dealerships
@@mikes2687 Ha! I wonder if they're drinking White Claw for breakfast and buying under the counter happy sdust from Casey down at the truck stop.
There needs to be a federal Truth in Advertising law. The price advertised on the dealer websites should be the price- clear and present- not hidden in the fine print.
This will happen as soon as you buy as many politicians as the auto industry does
@@benjaminkilmer when the auto dealers that are house and senate people get out of that job.
The problem is that current MSRP's are just wish lists, and not the actual value of current vehicles. All MSRP's have been so artificially inflated that a return to true values will cause a crash.
$250,000 earners should be 100% of new car buyers in this market, they can pay cash! If you need to buy go to a dealer with new 2022 still sitting, find out
average trade in value on 2022 with 500 miles offer dealer that plus $500 or work deal your satisfied with!
You guys are so entertaining. I am not even actively looking for a new car, but you guys are fun to watch AND you always have good information. It is helpful to learn more about the mysterious automobile industry (IMHO most consumers are simply not prepared, and are easy "marks" for unscrupulous car dealers)
Ok, so everyone says the govt will not bail out the car industry this time around. If current sales are being propped up by fleet sales (including govt agencies), doesnt that act like a stealth bailout in the end? If said agencies end up dumping inventory at auctions for much less than what was paid, then doesnt the taxpayer get hosed with the losses in the same way as a typical bailout? Hot take???
Follow Grand Pa’s rule - don’t buy something you really want unless you can pay cash
That's good advice. Some people NEED a newer car....but most of us, just WANT something newer, better, fancier. Paying interest at these levels for that WANT can be very painful in the long run.
@ted356 the problem is that consumers hold onto cars for 10+ years and they're forced into buying a new (or at least a nearly new) car 🚗 because the car they have is either worn out or totalled. 20% of buyers paying $1000+ for a car (a deprecating "asset") payment is frigging ridiculous. We're going to end up with the rich driving cars and the rest of Americans 🇺🇸 riding the transit bus. Don't blame the government, blame the economic system. 21st century late stage vulture capitalism 😂 Thanks capitalists.
Not necessarily true. If you pay cash the dealer doesn’t make money on the financing of the vehicle and they jack up the price of the car to recoup. If you’re going to pay cash DONT TELL THE DEALER until you negotiate a price INDEPENDENT of the financing or monthly payment. If you can the best deal is a zero percent loan because everyone wins
and yet, dealers and online retailers are playing around with discounts. I was tracking a few models across sites inclduing Tesla and noticed a steady drop followed by a rise to pre-drop price. Not sure if this is to catch any buyers thinking they'd immediately get the best price on the last days of 2Q/1H
Ford just had another recall on 500,000 of its vehicles due to transmission issues
4% to 16% is a 300% increase. Maybe dealerships and automakers should go to a consignment system. Dealers pay zero interest (floorplan). Perhaps then some models will not end up with a 100 day or more supply and having 2022 and 2023 models in stock would diminish.
I have been in the auto industry forever. I think people put way too much weight on vehicle recalls. At our Chrysler store for example most of the recalls were just simple bug fixes via software updates. Then there are volunteered recalls and forced recalls. To be fair, a safety recall for a vehicle stalling at highway speeds and a radio update should be considered different.
Total company recalls DOES NOT necessarily reflect a product being "unsafe". Consumers should know this.
We all do our own diligence .
And many others don't.
The way new car affordability is going I suspect the Rental Car Companies buying will increase over time, because a big percentage of people who will be able to afford a nice car for events, vacations etc are going to be those who can't afford to buy one, they will rent only for special occasions and drive a junker as their daily drive. Automakers could take advantage of this trend by offering less expensive entry level cars but they won't give up the big money until they have to....maybe in Bankruptcy Court.
Soon the bubble will burst, just be patient. As usual always a joy to watch
No, I don't make that much, and have recently purchased a new Mustang Dark Horse.
$6.00 a day is the average amount a dealer pays in interest for every vehicle on the lot that is floorplanned- not taking into account any curtailment payments. A lot more than what it was costing them pre pandemic.
The federal government is spending taxpayer funds to purchase these fleet vehicles though grants to local government agencies, notice the new SUV’s the police have?
I see a lot of new and used paper tags in the Tulsa, OK area
A well cared for used vehicle is really the best way to go for those who can wisely manage it. Right now interest rates make that a tougher proposition.
Golden shower 🚿 😂😅 LMFAO
Still watching a local Bronco for a price change. 190 days on the lot.
Switched to 1.5x playback speed. Problem solved. Great content as usual.
My wife and I with 2 kids out of the house. We make close to a quarter mil, but I'm not willing to suffer the depreciation of a new car. Although we will probably have to get a new car within the next few years. No one ever spent their way to wealth.
Thank you.
Still hard to buy new cars, when trying to trade my 2022 Mustang GT Premium with less than 10k on it and they don't want to give me a fair price on the trade, the car is like new condition. Does your Car edge buying service work with trades or am I better off to sell the car myself. I bought the Ford 10-year extended warranty that can be transferred to a new owner for under $100. Even looked at some 2023 Mach-e that the dealers can't sell, and I will tell them they could sell a 2022 Mustang GT faster than a 2023 Mach-e, and they will give another $100.
Well you're in it now. I think I'd keep the '22 GT. Take good care of it, and pay it off. There's a good chance that the "car market" will look much different by that time.
17:25 No! I do not make $250k/year. Not even close!
Is more cost effective to lease a new car at 12,000 miles a year, for 3 years then buy it. Or buy a 3 year old used car. Assuming both are similar brands and models?
When will these numbers show up in Ford & GMs quarterly reports?
540 million? how much is that in tire nitrogen?
18:18 not surprised
I make 1/4 of 1/4 of a million (around $60,000). In 6 months, I want to buy a low mileage 2020 or 2019 Dodge Grand Caravan. I'm hoping that is good timing in this failing market. It'll take me that long to save up around $20,000. I could cut that time in half, if need be, by financing $10,000(ish) and putting $10,000 down (then pay it off in 3 months). Should be some good prices out there then, I'm hoping.
My Dad taught me there is good debt and bad debt.
I drive a 2011 Hyundai and need to get another vehicle before winter because my headlights turn off randomly. All the service centers have told me that fixing this electrical issue would be too expensive given my car’s age.
Next question -new or used? Lower interest rate, higher payment OR higher interest rate with lower payment?
Used obviously, you avoid the depreciation of a new car & save $$$. As far as what kind of loan that really depends on your credit rating and what you can put down. Obviously the best is a big down payment, low interest, and the biggest payments you can afford so you pay it off faster than it loses value.
The percentage of people making 250,000 went up because the number of people buying cars making less than that has gone down. People making 100k or less aren't buying cars. So that will increase percentages of sales go up in other income categories so adjust to keep the 100%¿
I enjoy your programs very much!!!❤😊❤😊
The kicker of all this is the artificially inflated prices from the manufacturers which make a $2000 discount Penney ante. With this sucking economy nothing less than a 20% discount is even worth looking at.
a basic 7.3l dully gas truck should be affordable so as not to cause over prices of your services.. evil is the issue no one need a loan over 5 years or so on a home much less a car 2 years max
7:44 - So the dealership is paying more for the higher end cars if I’m understanding this correctly. $200/month average… so a high end, $100K may cost a $350 or $400 per month housing fee… doesn’t seem like the dealerships would want to order so many of these higher trims unless they sale quickly. Yet that’s about all that seems to be on the lot… if it isn’t it limited, then it’s a platinum or Denali… makes no sense for anyone but the manufacturer and government “value added” tax advocates.
Please explain why they are still making the decisions to build top trims and add new technology when the old basic 7:44 work trucks were plenty good enough for previous generations.
Why are US dealers putting GPS tracking devices without customer approval in cars that are not financed?
As a customer. I always consider lot rot as a negative
If manufacturers didnt have to add so much to cover the EV experiment, dealers would be buying and selling at a much lower price, selling much faster, and the interest would be on a much smaller amount.
The look on his face when he said the only thing that is golden is a shower is priceless. 😅
Drop the prices 30% and they will fly off the shelves.
I work for a global company that is shedding all Fleet Vehicles and telling employees to get their own vehicle for work use, new or used, and they pay per km or monthly allowance.
Cost of fleet vehicles was getting ridiculous.
My 2019 Dodge Grand Caravan cost fleet $17-18k cad. Chrysler dropped it and now a new Dodge Grand Caravan costs $50k cad plus taxes, total $58k triple the cost of fleet pricing before.
Many had the Equinox, but the turbos are blowing up along with other issues, so company fed up.
It's a 88 billion dollar company.
Imagine how much Car companies just lost in sales. Yeah workers will buy new or used vehicles now. But the huge orders are gone.
Thanks to greedy car companies.
I truly appreciate yawls videos and yes you are very entertaining
What about when these new trucks come out that they were supposed to be $8000 they’re going to actually be in the United States except for a couple of them
My taxable income was $145,000 last year and I am retired.
Maybe…😂
Collectively my wife and I do.
300,000 year and I’m not buying a new car
500k here, and I'm on the fence.
I can see all dealership parking lots are full they are parking cars on visitors parking spaces they don't have more room to park cars
I live in a trailer park, eat Shake and Bake, and watch Nascar - and I'm proud of it. If you don't like trailers, Shake and Bake, or Nascar, something is wrong WITH YOU, not me!!
Would you live in a condo use an air fryer and watch Formula 1?
God Bless You and everyone !
@@preeyakumari-i2q 'Murica
@@FrankySilverFace - Condo would be a tough sell. My single wide is pretty sweet!
The car industry has successfully managed to run the customers away.
Retired 20 years now and needed a new car. Last month I purchased a new 2023 leftover compact hybrid. Didn't want to take on a loan at today's rates so I paid with cash taken out of my retirement money and got the car at 4.5% below MSRP.
The thing that really pisses me off is the fact that the same vehicle 5 yrs ago had a sticker price over 45% less than today.
The whole lot of them from the manufacturers to the dealerships are a bunch of
🤡🤡🤡🤡🤡🤡.
I have no sympathy for them at all.
What comes around goes around. I hope Karma hits them big time!
I'm with Ray. I am/was also in the business. Why do people buy these recalled and other POS cars. Then the same people why Toyota, Honda, and Subaru cannot keep them in stock.
😂went to the Koons VA ram dealer, i asked the sales guy how’s the sales going? He told me extremely busy. Lol.
All the Ram dealers say that and they're straight up full of it went to 16 of them before I ended up buying a GMC they have endless inventory at the CDJR dealers and they aren't budging on prices.
Do you want to know why cars are so expensive? The government and cafe standards. Let's it started with seat belts, now it's back-up cameras. I drove for years without one. So now you have a cheap little car but it has to have a back-up camera and this and that and the other thing. And emissions. So they have to build electric cars that no one wants to keep their efficiency down for the fleet, right? If the government would keep their hands out of the cookie jar, cars would be way less expensive. But it's okay that the government spends $90,000 for a bag of bolts when you can buy the same thing for 20 bucks at Home Depot. If we truly had a free market, a lot of things would be cheaper. Don't blame the car companies, IMO.
NO … making 250k annually. It blows my mind to hear that Stellantis raised their prices when they can’t sell their vehicles as is.
Thanks!
Thank you so much you are very kind. All the best, Ray
No , I'm at 80k
19 min mark, lol, dang Ray, the only thing golden is.....
"The only thing golden is the shower"😂😂😂
Ford propbaly makes many more cars. Stands to reason recalls would be higher.
It’s time to pay the 100% tariff and get a china car and still save $$$$
Totally agree ,
Before they increase the tariff to 200% .
The domestic still cannot see a breakeven on their products , even with 100 tariff .
No flame, but the CCP can go to hell. Never, ever trust a communist. Many/most of those companies are government owned and controlled. This is NOT like VW importing the Beetle, or Toyota hoping to import/sell vehicles in the US in 1959.
How you gonna get them serviced if there’s a problem
An MSRP of 35,000 or less. Why don't you start at $30,000 and less?
BUYERS STUPIDITY IS THE ONLY REASON WHY THESE CAR COMPANIES AREN'T ALREADY SHUTDOWN.
Heck no
Is seasonality 😅
I can afford 200 😊 a month.
Car purchase is increasingly a losing gambit. Depreciating value on a new car makes it a bad purchase no matter the price.
Going into debt for a new car isn’t recommended. Buy a used car with cash and save your money build your emergency fund to 6month salary save for the next used car purchase
Hey, Stellantis has some ceo looking for jobs. Maybe you can hire one of them to help grow your car business?😂
Why is Rays speech always not synced to the video but Zak's is fine?
Los ovnis no hacen ruido.
35k tops for a car.
F’NO !!!
$75K 😂
Damn, .04 cents is profit? Why stay in the car biz???
Interest rates too high
Are Ray and Zach aware of the CDK situation?
THANK YOU!
They mentioned it in the video
No
The 100% tax on chinese cars is the reason the prices are rising. No competition.
Awe the pour dealerships, they have to pay lot rent fees for so many of their sitting vehicles ( sales people are sitting inside the AC, playing tick tack toe, playing games on cell phones, talking wondering why they cannot sell the cars, how they can raise prices on services and unneeded car junk accessories , training on being aggressive in this tough market, being a go getter and making Maximum profit from customers ) days go by one customer comes dealer said best price on a Toyota carolla 35,680.00$ all the best features and warranties oh wait there is more, customer leaves not wanting to pay more than 20 grand out the door. Sales person says ok we can wait for the next customer, days and more days go by. The salesman are inside repeating their boring jobs, not making money. They are SUCKERS dealers SUCK
Haven't seen anything special around reno😢
Following the 10% rule means one would never get a new car and frequently not a very recent model used car for the majority of prospective purchasers!
Over 47 years, I've bought only (2) new cars (+1 demonstrator model). I've bought some (10) used vehicles. I don't consider that a penalty. In fact, of my 2-3 favorites to own, most of them were bought used / low miles.
@@NVRAMboi Used and low miles today would still be out of reach for many using the 10% rule. That's all I'm saying. I'm not making any judgement on used or new car ownership decisions.
Ray is funny 🤔🤔😁😁🤣🤣🤣🤣 hahaha