Auto Dealership Insider Shared Something Huge
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- Опубліковано 30 кві 2023
- I just heard from a new car and used car finance manager that the auto lending business is changing fast. The #cardealership He worsks at has finally missed their used car sale number big time and they did not make their #dealership budget this month as well. As used car prices drop the banks begin to tighten lending rules for both new and used cars. So many people are asking will new car prices drop in 2023 and I say yes!
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What car or truck are you waiting to buy as the auto house of cards comes down? Comment below 😮
I bet you insider is car max.......just got a feeling brother.
GMC Denali 2500 with super cruise!
#66 Nova
Hyundai Tucson .. 2022
Don’t need one
Every time someone tells me to get a new truck, I just laugh a little. Then ask what their car payment is.
I bought a brand new truck in 2022, 10k down, $380 payments. Yes I drove a 97 Crv for about 2 years. I know it was a wrong time to buy but with that being said I am enjoying it and I’m pretty sure I can sell it because it’s a Toyota Tacoma. It still a Very highly desirable truck. Yes payment suck ass.
I got a small SUV in March of 2020 with 13k mikes for $15k. What a deal.
@@fraink1100
Between rust, emissions, computer controlled everything. A new truck is a terrible way to spend money. I could write it off, and I won't buy one.
I also own 8 vehicles, all are exempt from emissions and most are registered as antiques.
No emissions or car loans for me. I try to avoid avoidable scams.
@@fraink1100 I'm truly sorry for saying this, but anyone making a car payment is a fool at best even a sucker. I own 3 vehicles and I have the titles in hand. Never take anything out on time that is a depreciating deficit. You may have to lower your expectations but you can get a good older vehicle (pay cash) that solid and it'll still get you around and get you around comfortably, it's going to do the same thing but it'll be paid for and you'll sleep better at night knowing it. To hell with keeping up with the Joneses. I was a marketing major at one point and trust me it's all brainwashing you don't need that fancy stuff.
My buddy just got a Kia for $650/month $350/month insurance and $400/year registration 😂😅
Being made fun of because you own a older car is the reason people are hurting now. They think what others see is more important than sleeping soundly at night after balancing their checkbook
We love our 2016 gracefully aging Buick Regal. 33mpg. Big Turbo. Great ride. No payment. Would we love to have a truck or a sweet Subaru. Sure. But why bother. We will wait until we can buy a new car with a few ounces of gold.
Boom! You hit the nail on the head. No matter what you do in life someone will have an issue with what you do, so live your life! I used to buy into the whole oh no I need a new car so that I don’t break down. Now I know better.
People ask me all the time… “I thought plumbers make good money, but you and your wife drive 2002 f250’s with over 300,000 miles”….I chuckle a little because I pay myself and my wife over $300,000/year. I’m 42 and have a super successful plumbing company in SoCal. We have just over $1 mil in the bank and insanely low business debt (like $22k in business loans right now). I drive a 20 year old truck because not having a personal vehicle payment in over 15 years is the single smartest financial decision I ever made. I chose invest, invest, invest.
Yep 100% we are financially very sound but we own all our properties all.our vehicles and our farm...I drive 20yr old diesel ute ..but ICAN FIX IT and it has no mystery box (computer).impressing no one but sleep well !
@@timm9114 get your money OUT OF THE BANK buy metal(PMs) ,farm land ,tangible useful things..They WILL TAKE YOUR MONEY .why do you think they put all these new 'bail in 'laws in place over the last few years ?
My lease is up in February. I’m turning the car in and buying nothing. I work from home, can walk to most of what I need, and when I need a car can just use a car share. It will save me, between car payment, insurance, and gas, about $1,200/month.
After we had our new car totaled early 2022 and seeing the interest double for a new loan-I decided to cat share with my retired parents who live close by-I wfh too and between the 3 of us we make it work
Make sure you check on the current value before you turn it in. Depending on the contract and residual value stated in the contract, the dealer may owe you money.
@@mickeymang6 I would never pay 30k for a vehicle, that's for broke suckers. I would rather buy an older vehicle for less than 5k. It's better to have way more money in your pockets every month versus making stupid payments on a vehicle every month, you wasteful people must be from looney lefty California.
You could buy an ebike for short trips
Agreed. Sex is overrated.
I'm a used car dealer economic ninja is correct 100% hold off prices are coming down I've seen many of other greedy car dealers starting to worry we've had 9 interest rates and we haven't totally felt the impact of all of those hang in there my fellow Americans 🇺🇸prices are coming down🚗
We need houses to fall cars well whatever houses and normal American down payments like back in the days
Good, my wife is pregnant and we need to buy a mini van by September. I have cash but I am holding off until those stealers start hurting more.
@@thomascunningham111 we cannot fit three car seats in my 07 Honda accord and 2011 buick lacrosse. We need to buy a car by atleast September.
I would not be surprised to see half of the dealers be gone before the end of 2023.
......gone where
@@dkrawk8309Out of Business. Word on the street is in the not so distant future folks will be buying vehicles DIRECTLY from the MANUFACTURER.
@@osamawilliams9042 I wouldn't hold your breath, corruption will likely keep the status quo going for some time yet.
Most auto dealerships are owned by bigger auto groups with big pockets. Half the dealers in this country closing up shop..? Not gonna happen unless there is a true depression. I have been doing this for 15 years. Run a Toyota store in North Texas. Going to take more than just an economic down turn to derail the auto industry.
Good, they are worse than greedy street pimps.
As a baby-boomer I have watched our country lose its manufacturing sector, which was followed up by a huge increase in our retail sector, as some sort of saving grace. What is so scary right now with the retail sector (particularly brick-and-mortar) imploding is that there is nothing else on the horizon.
They told us to "learn to code"
Tie your boots and grab a shovel, the teams been waiting for you all.
You made it! To see the end of our society.
@jcolucci1982. Learn to weld. A friend's kid just dropped out of college and went to welding school. He now travels the country just filling in on welding jobs. He's printing money.
Just tech and medical
When Toyota isn't selling Corollas or Camrys....we are all in trouble.
They're selling all they can make. For some reason Honda and Toyota have not been able to get their production back up. Seriously, go to a Toyota dealership and a Buick dealership and look at the difference.
Yeah they are still selling Corollas at a TOO HIGH PRICE NOW!! going for 30,000 where I live. So still driving my toyota small truck from 2001!! Had people trying to do a trade for their giant expensive super trucks even willing to just do a STRAIT trade!! I live where people commute a long way to work! So I said nope cause I would be paying a fortune just to go to town and back!!❤❤❤❤
Bought my wife's 2018 Camry new for $22k. We will drive the wheels off that car.
@@shanarstra2129 yeah not worth it. Keep what you got and invest the difference.
@@ssl3546 the inventory is increasing in Toyota and Honda, no question about that. I live in Atlanta and there has been 10 times more cars on the lot now than last year
I love those old Honda Civic hatchbacks! The fact that many are still on the road is a testament to their reliability.
I got a 2017 Honda Fit. Very similar to those old 90's hatchbacks. Hope it runs just as long. It's a shame Honda doesn't sell them in America anymore.
When it was a seller's market, I finally found and bought a 1987 Civic Hatchback from the dealership sight unseen. It was a 4-speed with zero options -- not even a radio or floor mats -- but it got over 50 mph on the highway. I sold it 21 years later.
@@lot2196 A UA-camr called something like HondaFitFor Survival converted his Fit into a camper. Between what's inside & on top it's got a version of all the camping amenities one would need. It's pretty cool.
@ME Brosmer That's definitely getting your money's worth!
Got a 2010 Honda Civic and take care of my Baby "Civi" yes i named her!! Lol!! I have 140,000 miles on it. And will keep it as long as i can!!! 💯💯💎😂🤣
I ordered a 22 Bronco, kept it for six months and sold it back to the dealership I bought it from for 15% more than I payed for it. My daily driver is an 06 Accord coupe mt6 fully loaded that still runs like new. No car payments is a great feeling.
It’s sure is. I’m driving a’11 Hinds CR-V paid off.
Accord coupes are awesome 😎
You were wise to get out from under that Bronco. They have many issues and were sold way over MSRP.
@@cruikshank I hated paying MSRP. paying MSRP was a fools errand when I grew up.
I’m driving a 2010 Nissan Altima. Just had it painted & plan to drive it at least 5 more years.
I bought my truck during that crash of 06-07. I got a smoking deal and I'm still driving it. Last year, the value on my truck was as much as I paid for it 16 years ago.
Wow, that wild!
Was it a Toyota ?
I'm still driving my 2006 Saturn! It's the best car I've ever owned!
Saturn's were awesome. I don't know why they stopped making them. I miss mine. Lost it in a wreck.
@@LysippeLee 👍👍👍
I drove a 1998 Honda Accord (purchased in 2010) until the mechanic said it was not safe to drive bc Frame rusted. So I purchased a 2008 Camry (was ALMOST a Corolla) in 2017. Still goes. Never fixed any dents or scrapes. Just maintained. Still going…
Camerys burn gas like a full size truck!! Had an 07.
My 2006 Honda civic lasted forever till I hit a truck in the rear with a hitch. My friend bought it from me for$300 and fixed it up. It's the best car he has!!!!!
@@bryanfox2735 a V6? enjoy it. at least you didn't get an I4 like I did. i4 had no power.
@@bryanfox2735 my Camry has been super with gas mileage at 20-30mpg, our Ford e150 conversion van eats way more @13-15mpg (on a good day) and my husband begs to use the Camry for his commute to work. TG It is doable though 😅
@@bryanfox2735 looks like you had problems. Ive always got 28mpg average since 2007 on my 2007 toyota camry 4 cyl
It's far better to look poor and be rich than to look rich and be poor! Having no debt is not the "norm". Like Dave Ramsey says - "Be weird" and have everything paid off. I wish I was in the everything paid off club.
I’ve never had a loan think about all the interest money I have saved.
Im poor and look poor
😂
I have been driving a 2004 Scion since I bought it, it may not look good, but gets me around and no payments. Meanwhile my employees drive 50-60k cars with outrages payments and insurance, your right a penny saved, a penny earned.
Good morning ☀️ Mr. Ninja
You’ve been telling us this information for a very long time. And it’s all coming true!
Thank you tons and tons for sharing everything you learn and then teach us.
You’re a good man 😊❗️
Blessings, Carlos ✝️🙏❤️😊❗️
I think car dealers got addicted to 5-10 grand over MSRP and they won't let go. I think they would rather sell one vehicle at 5-10 grand over MSRP rather than three at MSRP or below.
Especially EV’s - no service department backend revenue. Meanwhile, Tesla keeps dropping prices.
"then let them eat car"
I'm a multi- millionaire I just got rid of my 2005 Toyota Corolla with 330.000 miles and upgraded to a new 2021 Toyota Corolla. 😶 You are 100% correct as all ways sir
I’m a multi thousandaire and I just bought my wife a rav4 hybrid and that thing is great on gas , her jeep had just under 300,000
I hope you got one with a manual transmission, driving isn't enjoyable without them. I just bought a 1998 Nissan Sentra manual.
@@permitfisher Im a multi dollar air...I got multiples of one dollar bills.
Ninja! I was a rental agent in NYC back in the day and yes, 2005-6 was the beginning but it was Bear Stearns' demise in 2008 that agents had to go find another job! I had a lot of young grad clients who were moving to nyc for their new job at Bear Stearns, and their pArents were using their home equity as an atm. Poof! they all disappeared in 2008
😊 magical
Lol poof!!!
Young man, you have good sources and as an elderly technical analyst you are very dialed into the financial crises that are probably going to hit us pretty hard! Everything goes in cycles. And it is beyond the time for a crash! It is way over due....
Truck i inquired about 3 weeks ago... salesman wasnt helpful at all...said price was FIRM......today they just dropped the price $3000
Try to wait a little longer. I’m already seeing the dealer by me with those $10,000 off stickers plastered across the windshield. Just hang in there.
Thanks again for your investigative coverage. We trust your reports more than the major networks.
Thanks for the info, I was lucky enough that my dad bought a 69 RS Z/28 aluminum 302 new off the lot, and it has remained in the family. If only he hadn't tried to modify the vin plate to be a ZL1
According to some analysts, the United States and other regions of Europe may have a great inflation and recession in 2023. Because BRICS and emerging countries frequently grow faster than more developed economies, a global recession, which is defined as a decline in annual global per capita GDP, is more uncommon. Fundamentally, if economic growth lags behind population growth, the global economy is said to be in a recession. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months?
Sincerely, unless you're shrewd yourself, it would be wise to seek advice straight away. We are in a severe recession, and everyone is running out of money, I can tell you as a business owner in both the service sector and as an eBay reseller of all product categories.
@@hannahdonald9071 That's the more reason I prefer my day to day invt decisions being guided by a init-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a init-coach for over 2years+ and I've netted huge.
@@graceocean8323 we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?
My Financial Advisor is Jeanne Lynn Wolf. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.
@@graceocean8323 She appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.
On the retail side, husband works for tractor supply as a merchandiser in two locations. They got word today that many price cuts are coming. One of his stores missed plan by $6K each day for a week.
thank you for sharing!!
Many of the core demographic for TSC are boycotting them (owned by Blackrock) for pushing"trans story hour" and ESG. Just an FYI.
@@reidcrosby6241 what company (ies) or corporation is NOT owned/ controlled by Blackrock, Statestreet or Vanguard…. It’s not only Tractor Supply
@@reidcrosby6241 Not to mention the adulterated chicken feed that hurt the small egg producers.
I am! Proudly
I'm in the suburbs of Detroit. When the economy tanks we're the first to know and the last to recover. In 2008 the freeways looked like a ghost town. It looked like a scene out of the walking dead. GM announced today they bought out 5000 workers. We're still a long way off from what I saw in 2008.
I just want to keep my 2003 Tahoe running... I love my rig!!! I try to take great care of it! It is my forever rig❤
I have an 02 z71 300+k she has her moments. I love my rig.
i drove my 92 blazer until one day the rear tires came off still attached to their tie rods and rolled past me as I ground metal
During the great recession of '08-'09
I was working for a independent shop for 9 years. We were losing business pretty fast and traffic came to a crawl no thanks to the "cash for clunkers" program. We had customers that traded in good used vehicles that were well maintained by us that shouldn't have went to the scrap heap. From what i heard overtime people couldn't afford their rides and therefore repossions started happening. By the time I heard that "Detroit was shutting down" it was a crisis for us as well. We starting seeing other independent shops around us going under and then several local GM dealerships like Hummer, Saturn, and my favorite division Pontiac getting axed.
Unfortunately, by October '09, we finally closed shop, leaving me at the unemployment line. Because i still had a large tool bill, I eventually had to sell my beloved '89 GTA Trans Am in order to pay it off.
I remember how hard it was to sell my car not just emotionally but because how the economy was. In the end I sold it for a mere $5,500. Based on the collector car market, the car today is now worth almost 3x as much now because of the options and low milage it had. If I could I would like to buy back my car but I doubt I'll be able to buy it for that price for what I sold it for...
It is sad what these classic car dealers are doing to the market. They snap up muscle cars and jack up the prices to the moon. My brother looked at a 1968 Dodge Coronet convertible for sale by a private owner, body in great shape, rebuilt 440 with receipts, asking price was $38 grand. My brother negotiated it down to $32 grand, but ultimately he didn’t buy it because his wife didn’t want a convertible. A classic car dealer in the area bought the car and shortly afterward we saw the car listed there for $49 grand, and it sold within a few weeks. No way was it worth that much, but they are pushing prices up, and the uninformed buyers with the dumb money are paying. The music is going to stop soon, and dealers are going to find themselves without a chair to sit in. I wont shed a tear.
@@fratzogmopars You reminded me of a scene in the movie "Margin Call," where execs are in a midnight meeting discussing fallout from music slowing. Ninja's the CEO telling us he doesn't hear a note way ahead of others still dancing along to a fast beat with a slow jam coming up. My dad was into classic cars. I remember looking at old Mustangs and you could get a fully loaded one 64-65, maybe could use paint touchup, for $5k-$6k. Now, that's a $30k-$40k car, and the beater frames that you could get for around $1500 and spend a couple grand getting to mint, they're now closer to 10k. Definitely not good for regular folks wanting a piece of history if they can't compete with the dumb money. Dumb money is making a lot of messes for regular folks.
I sold my 1979 Trans Am for $2,200 in 1994. Now it's worth over $9,000.
I know some folks that just purchased a Corolla in Houston, TX. They had to get on a list. Dealers were only getting a couple of cars a month. You can't sell what you don't have.
I love my Yaris-this car is so cheap and easy to maintain, saves me $$$ at the pump and with insurance, and i take it on many long road trips! It was a downgrade from my previously owned luxury car, and the intent was to use equity from the luxury vehicle to make $$, then upgrade back a year later, but turns out i don’t miss high gas payments and here i am 3 years later with my beloved Yaris. I might just drive it till this car dies. 🤷🏻♀️
Be careful….The Yaris is the #1 stolen vehicle in the US. I guess they are easy to break into and start without a key.
These are times that test mens souls. My message to the community prepare prepare prepare prepare and take action when their is blood in the street😂😂😂😂😂😂😂
My son has a Yaris with over 200,000. He has hit deer and done major damage every year for 6 years. He drove through a blizzard where 4 wheel drive trucks were stranded. That thing is a TANK. I borrow it whenever I have to go a ways. 50 miles to a gallon!!! I even put my paddle board, inflated, inside it one time and drove two hours to the lake. That is my dream car!!!!
Might be worthwhile to keep it until the wheels fall off - the only caveat is safety. A used Model 3 might be worthwhile at some point, if only for the durability in a collision. You’d probably want the long range version, and use their “supercharger” fast charging network for long trips, Each ~250-mile fillup would take about a half hour. Maybe keep the Yaris and drive it once a week on local trips to keep seals fresh.
Definitely use it till the wheels fall off! My Yaris got totaled after someone hit my car parked, but boy it was my absolute favorite car, I drove that thing across the country multiple times, in snow storms, you name it. I have a 2014 Corolla now but still miss my 08 Yaris.
When the time comes, my wife and I will buy another RAV4 or Camry. Driving a 2015 RAV and 2004 Camry now that has 245K on it. I would be afraid to buy a used car these days with all the storms and floods that have happened around the country. I don't mind dealing with the immediate depreciation driving off the dealer's lot, knowing I am not inheriting someone else's lemon.
I have a 2013 Rav 4 limited. 150,000 miles. It has a long life still ahead. And a 2019 corolla. Had a 1999 corolla I drove till engine blew in 2019 had almost 400,000 miles on it.
My husband and I are somewhat the same. Sometimes the depreciation is worth the peace of mind.
Also have a RAV4 2015. Excellent vehicle
I did the same thing when I first made money. Had a well-maintained Honda Civic and proudly drove that around for years!
I heard today that the stock market is going to all-time highs, so this must not be true.... They are pulling out all the stops to hide what is really going on with the market. Housing, auto industry, RV's, stock market are all dead right now and it is just getting started. Thanks for all your insight and news to keep us aware of what is happening and help us to prepare!
I own a 1998 Corolla still looks and drives like new. It’s a garage queen these days but just goes to show how long a car can last if you look after it.
I have a 1998 Nissan Sentra and it looks like hell...but it's all I could afford. Bought it 2 days ago now...at least it has a manual transmission.
Went to a Toyota dealership website yesterday and thought just for fun I'd look up the price of new Toyota Tacomas. Even though their site said they had 15 listings, ALL of their listings showed NO Tacomas but rather that they were ALL in transit. BS.
I have 2 flip motorcycles left and the phones really have dried up here in Nashville. I started the year with 4 total (one of each type to feel out the market) and I'm considering lowering the price to low 30% ROI just to liquidate and build my war chest. Thanks for all you do; God bless you and yours!
Motorcycle are about to be at there peak. Mid June. I would hold on.
@@Freedom37854 finally sold for 36% ROI
I drove my ‘02 Honda Civic LX for 18 years and really needed a new(er) car. I was fortunate to be able to do so because I don’t think that Civic would have held out much longer without big $$$ repairs. I bought a brand new 2023 Civic Touring for MSRP in January for cash. Wish I could have held out another 9-15 months but I’m still thrilled to have a beautiful new Civic with no car payments. 🥳
I bought a house in North Scottsdale in 2003. The darn thing doubled in two years. I made a huge amount of money for just living in that house. Then, three years later, I went back and bought another house for a song. Wow. It was just unbelievable. I've driven everything from Mercedes, BMW, Lexus, Land Rover, Jaguars. I'd like a nice, affordable high performance car. Not sure what that looks like today.
Thank you for your loving Spirit...it totally shines through...love listenning to you everyday!
I just bid full asking price cash for a nice little house just outside of Philadelphia yesterday. It received 5 offers, one significantly over asking. So even though local housing prices have moderated, anything in a good neighborhood in good condition is still going well over asking.
This really didn't happen overnight at all. They were in complete denial and still tried to continue raking customers. Now reality is upon them.
Just picked up an ‘07 Corolla as a commuter car. Even though it has a “re-entry” blue paint job and 3/4 hub caps (all different) it starts and runs just fine. It will literally cost more to put new tires on than I paid for the whole car and I couldn’t be happier with the thing. People get so caught up in looking flashy/rich we forget how refreshing a stress free relaxed approach to life is. Besides all vehicles pretty much end up crushed into a tiny cube to get recycled or rusting in a field somewhere anyway… Make sure the vehicle you drive is a part of your life, not in control of it is what I’m getting at. Stay safe out there!
My newest vehicle is a 2002 and my other one is a 1992. HAD a 2016. Sold it. License, registration, insurance and repairs were sheer craziness on that 2016 besides the fact that it had too many bells and whistles I never used. No love lost on that sale.
I paid another car repair today about $630 keeping my 2011 ford escape running well……still cheaper than a car payment. I’m ready to buy when the dealers become reasonable.
I ❤ Corollas. Got rid of my last Corolla when it turned 23 years old. Overall, it was a pretty reliable ride. Hopefully, my new Corolla is equally reliable.
The new Corolla is just as fine as the older one you had.
In 2019 I bought a new Camry for cash, because other people pressured me to buy it, when I was wanting a 2-3 year old car. I have no plans on ever buying another new car. Even without payments, to me it a bad deal.
SCAMER
keeept that car forever until it rips in half while driving...then weld it back together
There better not be any bailouts this time. I still fume over that from 2008. Market forces are always praised when it works against the consumer, then they cry and beg for handouts when the tables are turned.
My wife crashed our daily driver pickup truck that we were five payments away from paying off. Insurance company wrote it off and actually compensated us pretty much close to what we paid for it originally.
Ordered a new one through the Chevy dealer we've been using for years. About three months out for delivery, maybe more. Absolutely hate the idea of having to start a new loan all over again, but we have to have a truck.
Could have been worse, she was okay just shook up a little, and we can afford a new truck. Again just hate the thought of taking on more debt. Our mortgages just about five years to being paid off and we have no credit card debt, so we're in not- bad shape.
I really appreciate your your financial info and your heads ups.
Thanks brother, be safe.
#2017ChevyImpala. Now driving 2012 Impala. Previous car was 2002 Chevy Lumina. Ran the Lumina until it needed a real expensive repair. Both model were workhorses with great gas mileage!
In Canada if you want a new Corolla with no wait time, you're paying 6-10k in dealer add-ons, because anything less is sold out nationwide. Otherwise you're looking at 5+ month wait times, 2+ years for a Sienna or Sequoia. They seem to have plenty of used with 50k on the odometer though.
I drive a dually diesel, but I tow with it. It got a couple of dents, so it got fixed but now repainted in the bed. I've decided to not fix it right now. People think I'm poor, and that's GREAT.
Stopped at a Chevy dealership to window shop. Even the salesman said “what incentives” sarcastically and told me the lease deals were even worse. Must be tough when your boss won’t acknowledge the reality that no one either has money to pay MSRP or is willing to. I’m the latter.
Must be nice being the latter...im the former. 😂 Just bought a 1998 Nissan Sentra with a manual because it was all I could afford.
Rocking my Corolla proud- got the chained 4 banger- good for another 200k
👆👆Let talk✉️now✉️
I own a 2007 Toyota Camry. Purchased it in 2013. The car still runs like the day I purchased it used with only 14000 miles on it. It now has 145000 miles on it. I would love to buy a 2017 Camry with low miles on it. This will be my car for the next 10 years when I buy it. Was told by Toyota mechanic that the 2017 Camry is bullet proof. Car will be on the road for a long life. Just waiting for the prices to drop. 😊😊
Love your channel so much great content. Keep up the great work. So informative.
I am driving my Toyota now for 14 years and will going on with that. You are totally right driving an old car like you said
I want a new car but cant afford it . i see ppl that live in town w huge 4 door trucks ... Why ur not a farmer. i cant imagine the payment or gas usage.
I went to buy a new Ford Transit 350 in 2019. It was 42k new. Almost overnight the "chip shortage" and limited parts storm came. It shot up to 70k! I said I'll wait.
My 1995 Toyota Avalon has 282k miles. New battery, alternator, timing belt, and radiator. Only thing that is a problem is power steering leak. It is my dog mobile. Two black labs.
things are getting bad here in Canada I have friends who work in the lumber Industry who this year were laid off for a month then called back to work for a few weeks only to find out the company announced they cutting shifts down to one shift. Many people laid off again. I spent all last year paying off my truck and with high gas prices I’m still driving my 09 Corolla 😂…. Still need my 4x4 for the winter’s here. Seeing autos put up for sale on the buy n sell
Man i tell you those little mid 2000 corollas are something.
My wife bought her '09 Corolla new. Since then we taken several road trips, been through several harsh winters and it just keeps on trucking. 197k on the clock and I just finally got done replacing the original rear drum brakes with oem replacements! Still getting around 31mpg combined and it's about due for a second timing component replacement.
"I love what you do for me...Toyota!"
300,000kms on mine now ! Had it since 2015
My buddies financing a Jetta. Since he has no credit and wants the car he has to pay 29% interest for seven years. I told him not to do it just won’t listen.
Did your buddy see what the entire cost of the loan is over that period? Probably more than double the cost of the car.
That’s nuts try to talk him outta it he will be upside down it that loan for the first 4.5 years. Bad deal…
Where'd he get the loan from, the Mafia? That's juice money!
I drive a 1983 Chevy square body with 389,000 miles on it. I bought it 10 years ago for $400.00, other than $275.00 for a clutch, fuel and insurance that is the total investment. Have been slowly rebuilding another engine to drop in it once it dies or reaches 450,000 miles, at that point I’ll put in the new engine and go another 300,000 plus miles.
People need to understand, when things fail this time, they may never return ...
I agree. Writing has been on the wall for a long time
They don’t get it. Prepare accordingly.
When PCs first arrived in the market they were sold exclusively by dealers. Then later, the component manufacturers - makers of motherboards, etc - said, Why waste money on dealers? Why not sell direct? And that is where the car market is going today.
Brohawk I'm driving a 300,000 mi Honda Odyssey and I love it. I have enough money (liquid cash) to buy Ferrari or Lamborghini and I continue to drive my old beat-up van.
hubby drives 2003 f150 280,000 miles he takes very good care of it
Toyotas are rock solid, Lexus as well!
Isn't Lexus and Toyota the same Company?
I don’t take out loans for automobiles. Bought a Tundra new in 2016. Same truck is $25k more now. Not paying that ridiculous markup. I can keep my truck for another 7 years
I intend to keep my 1990's Wrangler alive as long as possible. I need no other vehicle.
Rebuild it s few times and it will still be worth the cost
Absolutely! I had a 96 wrangler and that straight 6 was amazing. Wish I had kept it
None! Durable goods, and wealth preservation IS more important than getting a good price on a car.
My husband has the same taste in cars as you Ninja and owns a few you mentioned. I am not happy about it that he is such a car nut but it makes him happy and he drives them. I told him he was going to have a bad social credit score one day and he did not know what I was talking about. To say the least we do not have the same interests!!
By way of China we now have a social credit score. Thanks Washington DC.
He needs a new wife it sounds like 😅
@TeamHHP I sometimes agree with you!!😁 If my husband bought the cars at the low I would have no problem but he has bought them in the last few years. That is what makes me mad, I am more sensible with my money.
I have twenty four older cars (1969 to 2011) and could not care less about any "social credit score". A 1984 Buick LeSabre Limited Coupe stands out from the plastic crowd around me. And it was made in the USA!
I just leased a new Jeep Grand Cherokee Limited at 2.5 money factor. Not worried a bit, because like my last Jeep in 2005 they caved later and begged me to buy them out. This will be worse. Would I BUY a new car now....NO way! By the way, they offered to buy out my mint condition 2005 Jeep limited for $1,000. I laughed at them, knowing they are full of used cars that they cannot sell. I, like you Ninja, have been investing in Real Estate since 1978, and now own free and clear RE in CA, AZ, HAWAII on the #1 beach in the USA! as a lowly PE Teacher. I started with $9K of my OWN money (never putting in a dime more), and ended up owing over 114 homes/units. Then I downsized over 100 units and continued investing in single family homes. I have purchased only 2 news cars in my life as I refuse to buy depreciating assets. Yes, you can use my name in your podcasts here.
Keep up the good work, I listen every day to you!
December 2022 the dealerships knew, but they ignored the signs. Many Car market experts sounded the alarm in Late December 2022 and early Jan 2023. I don't think for a second the dealerships didn't know this was coming. Just like any market what goes up, must come down. Will it stay down, no but it will be super rough for a lot of suppliers and dealerships.
This car market currently looks like a classic game of musical chairs. The music has slowed down and now it's just a matter of when it will stop, and who gets a seat and who doesn't. I almost wonder if the music stopped and the dealerships and manufactures are hoping the consumer didn't notice the music stopped already.
Me and my wife went to Kia dealership to see what they would give us for our 2015 Audi a3 with 70,000 miles and wasn’t running and needed a new engine. They offered $13,500 . We towed it to the dealership. I am trying to wrap my head around this still
😲😲😲😲😲😲
Woooooh!!!!!
Because they want to sell you a new loan. Theres the "front half" and the "back half" of the deal, the front half is your trade in and the sale-price of the new car, the back half is the sale of the loan. The dealers- in all markets these days- make more money off the sale of the loan than they do a new car.
Ex.- a friend told me his girlfriend bought a new-used mustang convertable cobra, my friend-ex car salesman called his buddy at the dealer and said- hey I heard you just sold a cobra. The salesman responded- yeah we made 12 grand on the front end and 18 grand on the back end. The car cost 50 thousand.
Try and pay cash for a car. They almost wont let you!
@@freeradical6390 did she check the market price for the cobra? she paid $50K for it? wow.
@@freeradical6390 Yep that's why the salesman always want to know how you're going to purchase the car. Different prices of same car depending on method of payment. They want to make as much $$ they can on the deal. We as consumers need to do our own research, but it's also demand driven. If a consumer is willing to pay that price for the vehicle they want then everyone is happy....hopefully the consumer still is down the road.
Honda Civic's are GREAT Cars!! I have one and I love it!!!
My husband and I just sold the 2 vehicles we were making payments on to car dealerships. We just felt driven to get rid of the payments. In doing so,we also reduced our insurance premium by $1500 . We feel like a million pounds is off of us! We replaced one vehicle with an older one we paid cash for! Now the dealerships can worry about finding buyers for those vehicles while interest rates continue to go up Lol!
After we completed the transaction with the second vehicle, I shared the info I learned from the Ninja about which finance companies were going away from auto loans. The GM of the dealership seemed to be surprised about that info and showed concern about the possibility of Ally Financial possibly exiting the auto lending business. He mentioned that2 of their locations use Ally Financial for their loans. So glad to be free of that debt! If you all can, try to unload any extra cars you have as quickly as you can before dealers and the general public are unable to buy them!! Thanks for your intel and for caring about us Ninja!! You rock!!
Good for you! Now go buy some extra nonperishable food, water, and toiletries to last you a while, maybe a year, because the recession could get pretty bad, and there could be food runs like we saw in 2020. To prepare, pay physical cash at a store without a loyalty program.
You should load up on TSLA during the next recession. The long term upside from them is big. Really big. Most of their potential is in their robotics and autonomous driving skunkworks divisions. They just have to succeed in one of them…
@@EMichaelBall 👍
Good for you and your husband! I did the same two years ago, got rid of my lease truck, turned it in and found a nice 2003 one owner Buick, paid $2000 cash. $200 a year for insurance and gas at $80 a month. I could not imagine having a car note and insurance premium to go with it. Screw that! Point A to Point B, a vehicle is a tool, nothing more, nothing less. I am still driving that Buick... She is a keeper!
@@michaelwright1602 👍
I agree. A used car or a cheaper economy car that has a good track record is a good bet for your budget. We owned a 1994 Toyota Celica with low mileage, but what caused us to sell it was that we were afraid we could no longer find the parts--especially the computer. We had one computer go bad and had to get a replacement from a junkyard.
So many cars now have lots of computerized stuff. I think this will make it harder to keep them running for super long periods of time in the future. I don't know what year this computer stuff happened, but think it was in the 90s.
Yes you are correct , manufacturers are only require to support a vehicles for 10 years .
Meanwhile I just bought a 1998 Nissan Sentra with a manual transmission. 😎😂
@@fortheloveofnoise Nissan bankrupted so many times is now own by Renault
Witting is on the wall. I don't know how everyone can't see this happening.
Everyone does see it. I don't know anyone who doesn't see it. Anyone who says they don't are not being honest. They see it too.
@@SimplyHuman186 I don't know man... A few of my neighbors have bought new vehicles. One of them is looking to build a brand new house. It is obvious that everyone does NOT see it.
What happening?
They’re too busy trying to get by. Send these types of videos to people you know
@@christophersalinas2328 I have. They don't care. At this point it is almost too late. If they haven't changed their minds and ways by now, they never will... Until it is too late.
I’d like a limited version of the Toyota Tacoma, 4 door, the longer bed, 4x4. I’m not convinced they’ll come down enough for me to buy one though.
SCAMER ☝️
Me too. Short bed, leather seats, sun roof. I currently have a 2007 sport Tacoma and I will never have another vehicle other than a Toyota
Thank you for your service
I love my hemi 5.7 1500 Ram. Engine still going strong. I’m proud to say it has 53500 miles on it. I will drive it until it reaches 1m. Then I might consider a new Ram 1500
Toyota Corolla’s last forever
My 10 year old Corrolla has 256K miles. 🚗
They do .they're insanely reliable
My aunt and uncle bought a green Corolla ‘station wagon’ new in the 70’s called ‘’the booger’. It went to college with a cousin to Utah in ‘79. It is still driving around Utah by great grandchildren with over 400k. It’s had a new motor put in in early 2000’s but it is still going. Granted, I’m sure it’s because everyone has taken very good care of it but still, you can only retain the quality of a quality product.
Elon Musk, maybe it's because they are charging for a car what five years ago you could get some houses for...
I haven't had a car payment in well over 20 years, and love it.
I drive a 2013 Dodge journey, but over the last year I've had starting issues/battery issues that my mechanic can't figure out. In March I went to my Toyota dealer to test drive a Rav4 and a highlander. This dealer used to have a lot jam packed with new cars. Not anymore! They only had a base highlander model for me to test drive. If you want a new car you have to be put on a wait list or order what you want and the sales guy basically told me I'll be waiting months. Which is fine with me because I knew I wasn't buying anything yet from watching your channel! So since my car does still run, I just have to baby it, I'm just waiting it out for prices to drop!!
The battery may be low on water or letting too much grok out of the positive terminal. Make sure you or your mechanic supply 12V through the OBD2 while dealing with this matter.
@EMichaelBall thank you. It's actually a new battery, well a year old at this point. The theory is that something is drawing on the battery and so it goes dead. Very frustrating since I've unplugged my dash cam and my ipod, so not sure what else it could be. They keep telling me I'm not driving enough, which I think is bs. ;-)
Needs to head down alot further before ill even consider buying a vehicle
I agree
I can not keep up with folks wanting there vehicles Rebuilt so they do not have to get someone else headache. The Mechanic ,Aloha.😎
Job security though.😊
Bought a great classic; merc. SL. Low milage, still low priced. So, no finance and no write off..
Plenty of parts to be found when necessary.
Great choise, no regrets here.
Waiting for a Toyota 4runner Limited. Prices have dropped a bit in the last 30 days.....6 more months or maybe even a year should be about right. Did a few inquires last week at dealers...now they won't leave me alone ...that tells me all I need to know
Waiting for a cheap 992 Porsche 911. I sold a 2021 RS6 wagon at the height of market knowing what was coming. Paid £97k sold for £96k after 6 months as saw what was happening. Car today 8-9 months later is worth £65k trade value if that. Buddies all laughed said I was broke & couldn’t afford it. All now in negative equity on their supercars ! Economic Ninja for president :)
Used Model 3 Performance should be even cheaper to buy and maintain than the 992 - plus standard AWD for winters.
@@EMichaelBall live in Tampa sir there is no winter haha. Tesla does intrigue me though!
@Harrison Scott The British pound sign confused me. How much free time do you have? I’ve heard that using a Tesla for Uber or Lyft can be very lucrative. You can buy a cheaper (non performance) used Model 3 and use it for that.
$80k pickups... what could go wrong?
I just got pre-approved for a cap 1 car loan yesterday. I wanted to see my interest rate with a credit score right over 800. Waiting for a Corolla for my daughter who just got her license
Its totally worth repairing my 2008 Lucerne. I do all my own work to save money. Bought in 2010 used. Still running great today with some repairs. I might entertain a new motor/trans if it ever happens because of the auto prices.
3.8 V6 is legendary my brother! You have a true Buick. Not the junk SUV's they're making now. Enjoy your classic!
I am driving my third Buick Lucerne. I had a 2007 CXS, a 2008 Super and now a 2011 CXL. All have been modified into Buick Wildcats, with three metal emblems from 1965.
@@jeffshadow2407 My mother decided she wanted a new car just last year. She asked me if I wanted her "Old" car? I looked at it. It is a garage kept 2007 Buick Lucerne with moon roof and all bells and whistles - Black. Totally new condition! It had 26k on it. I have it now in my garage. I did swap out the radio system. Its really nice! I have about 35k on it now. :)
@@northpoint1039 No kidding here! At nighttime these cars have "Ferrari" taillamps!
Carmax is going to have a rough time making it through this.
Good.
They are already having a rough time. I can't remember where I heard about them being in trouble, I think that it had something to do with not being able to make the same profits per car. Vague I know, but every day i drive past their store for the last few months i keep expecting them to be closed.
im watching mustangs through them and they just are not dropping prices. its insane.
Went by one the other day and they were packed!!!!
Carvana is worse.I got an offer of 18,750 for my MINT 2012 Corvette Grand Sport with Just about 50 thousand on the clock. I could not stop laughing!!!!
Our government is the reason this country is failing to its knees, this administration putting so many families into difficult situations! I appreciate your advices Zelinda Math! Imagine investing $1000 and receiving $10,350 in 3days.
Same me here I started last week and she called me on Video call also I have received some of my profit about $9,200 yesterday she’s trustworthy.
Investment is far better than money saved. When you invest your money it works for you and help you earn more money.
Can you refer me to her 🙏🏼??????
*SHE’S ALWAYS ACTIVE ON TELEGRAM’S APP WITH THE NAME BELOW.*
*ZELINDA MATH.*
Appreciate the thinking on using the Toyota Corolla as a data point, but in that specific instance, data is skewed because there are none of them at the dealer lots. My local dealer is midsized, and shows two new Corolla’s in inventory. Two years ago, you would see 20+. Toyota is also one of the hardest hit manufactures from supply chain issues.
What’s up Ninja hope all is well. Have been watching you for little over a year now. Would love to speak with you more , I run a Toyota Dealership out here in North Texas. We are about an hour North of DFW. Hope you have a blessed day and keep on keeping on !!!!
Subaru giving me a lemon replacement but is charging me an upgrade fee - for the same exact car.
Probably illegal - may need to consult a lemon law attorney
63 Rambler, yes I said it, a 63 Rambler.
I saw one on e--b---a -y for 5500. It was a 63 Rambler American.
First quarter s typically a slow time for auto sales, usually picks up when tax returns come in for folks at beginning of second quarter.
Well, something strange is going on. Both the Honda and Toyota dealerships in my 170,000 pop city have less than two dozen new cars on the lot. Not two dozen Corolla or Civics but total cars, crossovers, minivans, and trucks.
When is a Ford F-350 Diesel Crew Cab 4x4 price going to drop from $100k to about $50k? I don't see that price going below $80k, EVER.
👆👆Let talk✉️now✉️