Used Car Market is JUNK
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- Опубліковано 17 тра 2024
- Used Car Market is JUNK
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Why do I drive an 05 trailblazer? The engine goes for $400 and transmission costs $500 at the junkyard. My TB could dump the whole drivetrain and I'd have it back on the road in a week. F this market.
Drive it till the wheels fall off
@@LuckyLopez777 I can fix that, too
98 camry here 400k miles. I daily drive it 80 miles round-trip 6 days a week.
Damn I thought my Gro Tracker was cheap to maintain
Dealers dont want to sell a car without financing right now. A dealer wanted to charge me more money for cash.
Cash buyers ask for lower price. Finance buyers only care about payment
Those fucking dealers get away with so much because there's unlimited amount of idiots who have no standards and will pay anything for any pos car.
Hope u walked away laughing. Let them enjoy unemployment.
Well, yea. If you finance with them they’ll secure the loan at a 5% buy rate, tell you you’ve been approved at 8% and pocket the spread.
Just buy private sale. The same cars that get traded into dealerships and marked up thousands of dollars can be purchased from an individual.
Yep
Once you figure out how to correctly buy a car private sale, you realize dealerships provide little to no value.
just for financing
@@LuckyLopez777 "We will finance ANYONE, even YOU!"
The problem is, private sellers have to actually be selling vehicles. I live in Florida and the number of f-150s under 70,000 mi within 500 mi, it's sometimes under 10. There's been a few times over the last couple of years where there wasn't a single one available on the market yet dealers had tons of flooded and rusted out trucks.
@@sendeth That’s why you shop around for months. If you’re buying a car when you desperately need one, you don’t know how to buy cars.
@@InternetUser._ paycheck-to-paycheck are always in this position.
Last three cars I bought, I brought them to three different mechanics in Memphis, TN, and they all looked dumbfounded when I asked for a pre-purchase inspection. Finding a good mechanic is as hard as finding a good doctor here.
I live in Memphis, if you know of a good mechanic in this hood, please post.
@@jeffholloway7974 yes - someone help us 🙏
You should have someone else look at it as well, because if they do the inspection there probably not going really let you know everything that's wrong with that vehicle.
Try Atlanta GA, place is full of clowns
Deep South. Not surprised
I bought a 2009 Highlander after a pre purchase inspection from my mechanic. It was loud and the dealer couldn't sell it. My mechanic gave me a tune up....runs like new 👍
GET IN TOUCH ❤
Prices in Eastern Washington are still absurd. There's a dealer that is asking $14k for a 2010 corolla with 132k. Pretty much all of their other prices are way high too. They want $25k for a 2016 Accord sport. Original msrp was $24,265. Ridiculous.
Asking and actually moving the metal are two different things.
And all the dealers collude to keep the prices high
Almost all used cars in my area within 5 to 7 years are selling at msrp with up to 50k miles.
@@pwnz27 same here unless there's a sketchy carfax. Not much better than last year
Those prices are insane. I got a 2010 Nissan Sentra with 150k miles on it last year for $5600.00 and I thought that was very steep.
Manheim really needs to be called out on fake CR's. It happens all the time, you buy a car with a 4.0, run the same vehicle a few days later and the CR is a 1.8 for a independent dealer. I've heard some dealers/wholesalers bribe the CR guys to give all their cars high CR's, that's the only explanation to what's happening. It's not easy being an independent dealer when the franchise dealers & Wholesalers are doing shady stuff to make money. Glad you called them out but I doubt they can be stopped. They are a monopoly.
Don't buy anything until after Veteran's Day. They will be giving them away by then but YOU HAVE TO NOT BUY!!!!! Let them suffer.
sales are slow and getting worse
I would wait but I want a more fun and modern car lol. Plus I cannot drive my car again over the winter.
I went to a honda dealership here in Vegas a couple of weeks ago to look at a 2020 Camaro SS 1LE. Carfax said clean, no accidents, etc. The salesman took me to see the car, I mentioned passenger side skirt was a little off. Oh that just how it comes from the factory, or what ever he said. He closed the driver door and I noticed the door is slightly rotated. Yea, no thanks.
As a professional mechanic and state licensed physical damage appraiser, I’ve always wanted to start a side business riding around doing pre purchase inspections for people. I’ve always done this for friends and family and the amount of rigged together trash I’ve seen is ridiculous. Sadly most of it was on small used car lots. Have had better luck private party.
'Yes, our cars are bailing wire and racer's tape enhanced, but for only $1000 down you can have a $500 car, for $4999....and $499 donuts and hotdogs fee. We finance anyone, even YOU!"
You should do it ,you'll be doing society a favor and there is a market for pre market inspections.
Did this 30 years ago and lost a lot of money on it,do a lot of homework first,remember you only get business by advertising and people are usually cheap when it comes to having good advice given that they have to pay for,they usually know a dave that worked on the pumps one year and they drag him along to kick the tyres,I actually had this a week ago,turned out he was the customers neighbour she had dragged along
What state are you in as I would pay for your service.
Same here my friend!! People are paying top dollar for the LOWEST quality cars I have EVER seen. I do purchase inspections myself, Carfax is BS, over half the time there is p/r on it.
Two years I have been waiting and waiting. I am in Florida. On new cars, These guys want MSRP plus $995 document fee and a $495 fee for registration. Not paying it.
As an Eastern European, I love the stock pic of the rusted out LADA. My wife has fond memories of that car. Polski Fiats were also cool.
“Fix It All Today", “Fix It Again Tony”
Lada yesir!😂😂 I don't think this dealer finds it funny, but we Europeans do 😂
My dad had an FSO Polonez in England for 10 years in the 80's. Didn't rust and was reliable, was a decent car 😀
I have been saying this forever. These cars are now turbocharged so they need more maintenance or they won't make it 150,000 miles without needing a complete engine.
Facts!
Or, they'll last 150k miles but you have to drive them like grandma which nobody drives a turbocharged car like grandma and gotta change the oil every 4k miles which nobody does. I see what you're saying, either way, it won't last as long as a naturally aspirated engine.
@@LuckyLopez777Lucky, I need to tell you something insane....I was at the junkyard today and most of the cars there that you could only buy the parts off of are WAY nicer than what I see at many used car dealers online and FB marketplace, heck....the two other B14 Sentras I saw there and got parts from were waaaay nicer than mine, well besides having more miles than mine....but one only had around 200k miles the other had around 300k, I am around 156k miles.
@@justacinnamonbun8658 Newer Turbo charged 4 cylinders are for fuel economy, not performance . 5k oil change interval with full synthetic. Bummer if people fail to maintain their cars. I maintain bottom of the line cars and get huge mileage out of them. Acadia with the 3.6l, had 230k on it. 1.6 Escape, 150k and still going very strong.
@@mph5896your blessed because both of those cars are garbage 😅🤣
I'm an 70-year-old retired ASE master five times recertified. It's such a pleasure to see an honest man talk about the issues in the retail end. Everything you have said is right on the money!😂 Simply put I have nothing to add you did a great job outlining all of the pitfalls. I'm a total believer in spending the money up front for the check out instead of having to pay double the money to put the car on the road safely. There are so many aspects to the retail,😢 you did a fantastic job putting it all on the table!
That does not surprise me, small used lots have frequently had reputations as scammers...and often for good reason.
Lucky, I worked in the car biz 10 years, but got out 5 years ago; Just listening to you makes me feel like I’m in sales meeting at 8 am again! Lol.
miss it sometimes.
I smashed the like button HARD. No "gentle squeeze' from me.
yessssss
The asking price for cars with rebuilt titles are insanity. I'm like who would pay a retail price for a car that was salvaged out and had to be rebuilt
Looking at C7 vettes. Saw a GrandSport at current high prices looked into it and it was salvaged title due to water damage. Wtf
I doubt I would ever touch a rebuilt unless I was familiar with the car's hx.
Well the issue is toyota and Honda don't produce enough cars to help with demand, especially I have noticed it on Toyota's. Now everyone chasing used cars instead of new.
I'd never touch a rebuilt title period. I'd be careful with any used vehicle though, owner can cover up damages and not disclose it.
@@mriphone1000 I've owned multiple used car rebuilt cars never had major issues. Inspection and finding the car history is key.
Good info Lucky is right! Be informed before you purchase a used car, there is a lot to know. On multiple occasions I’ve looked at a clean CarFax and found accident evidence when physically inspected.
thanks for sharing
I now dont even consider buying a used CERTIFIED car without first getting a pre purchase inspection. I dont car what brand of car it is for the reasons you cite. You cant trust anyone selling you a used car today if you ever could., Excellent video.
More important than ever to get anything you may buy looked at.
The last few years more people than you think are out here putting 50k miles a year on cars renting them on turo, doing all the delivery stuff and gig work. There so many cars at auction that have 120k miles on them and haven’t been serviced at all. And they are 3-4 years old
Manheim deserves that little roast because they are terrible with the CR. Like you said, bring the same car back to the auction and the CR drops!
they are so bad
Sir you stating facts
Went today to check 2 Toyota Highlander one 2012 with 140k miles had exhaust Leak plus AC problem and multiple scratches and dents delar was asking 14k on top he says it’s running perfect lol same with
The other one with 118k miles had a P420 meaning requires a new cat was askin 15k
Didn’t even bother drive both of em
Fellas always check the car and get your self an Obd scanner it will save you time and money on the long run
Also like the gentleman says check the vin and whts the real book value of the car
Good luck on your hunt with this wild market !!!
wow. thanks for sharing
Abolish the dealership model, legalize direct sales to consumers!
Right up there with “term limits.” Machine says “No way!” And the beat goes on…
@@jedclampett7705 first have to end legalized bribery
Hmm CR on those two cars says nothing about rough idle oil leaks blah blah 🤷🏻♂️
Florida just made that illegal for any brand that has dealerships on the ground right now in Florida. Go DeSantis! 🙄 so Tesla can continue but Ford, Chevy, GM etc are banned from doing so. So much for protecting the consumer. It’s just a payoff to the dealerships.
Worked at a auto auction place. The cars are terrible
Manheim is a scam
I had the same CR issue on a 4.5 Nissan quest that showed up with a bad tranny.
I never took it out of auction and ran it back. The CR came in at 2
I just assume clean car faxes are a lie. I’ve bought three “clean carfax” cars from dealers that were in wrecks. My body guy showed me on the last one. He said 2-3 wrecks, lots of panels replaced. Cost me a bundle for him to fix the sloppy work. After 6k, looks great. Never believe carfax.
CarFax defanalty does not tell everything
Some people pay to fix it without it being reported to their insurance and trade it into the dealership without the dealership knowing it goes both ways trust me
@@ImUrFatherAK Right. I learned that a small dent was repaired by a “lot jockey” on this last car. Basically, he drove up with sand paper, bondo and a rattle can. This was on a rare bmw convertible model. Amazing someone would do that. My body guy removed the bondo, took out the small dent and repainted the right quarter panel. I5 could have been fixed originally with PdR. The same owner had the front bumper replaced with the wrong bumper, a used one, and it was also rattle-canned and peeling. I replaced both bumpers. Other than that, the car has been perfect.
Im in the market for a used car. I cant find anything decent. Its depressing.
its tough now
I fix my own cars, I prefer $1-2000 market. I usually drive 3-4 years then scrap it doing minimal repairs. Done this most my life and I'm ok.
drive it til the wheels fall off
@@LuckyLopez777that's the point, cars are too expensive imo.
CARFAX's aren't worth the paper they're printed on! Too bad the average buyer doesn't know this.
wow, buying a used car is pretty scary. Thanks for the tips.
I had 3 bad experiences with buying used online. Carvana car was in a T-bone type accident had tons of bonds repair. Carmax one had a rat's nest on the engine, chewed wires and rusted bolts with stripped off screws in places. 3rd car was paid for and when it didn't ship, I found out they sold it to someone else. That was Vroom. In all cases, I did get my money back (had to wait awhile), so at least that was good.
for those looking for a 2k car cant afford to take every heap of junk for a PPI at $75 a pop. 2k cars are all PPI failures in one way or another. assume that just about every single 2k car will need at the least $500-1000 in parts within 12 months.
every single car someone is considering should google "(year)(make)(model) common problems" and also "recalls" and they should look at those right away when they go and check it out.
for those folks, go spend 30 bucks on a obd2 scanner, watch PPI videos and learn what to look for yourself.
its not hard for a non mechanic to check out a car......
does the transmission jerk around a lot?
does the car shake when applying the brakes?
is the motor shaking a lot?
do all the lights, windows, locks and buttons work?
do you smell coolant (maple syrup type smells)?
do you see any smoke under the hood? tailpipe? under the car?
scan the codes, and then google the code with the model of car.
buy a cheap floor jack and shake each wheel and look under for black wet spots (aka leaks)
literally anyone can do this and invest the $100 between the jack and the scantool. a 2k car will fail any PPI at a mechanic...it just depends on what those problems are ok to deal with, or will fall apart in 200 miles.
maybe make a basic video showing what i mentioned for the poor folks that can barely afford that 2k car how to not waste their money on PPIs that will literally tell everyone to not buy a 2k beater with a heater.
I completely agree with your statements regarding a mechanic look through for an accumulation of $400 over dropping $5000 on a bucket that fails around the corner. I’ve had that pounded in my head from a few of my friends and family being mechanics throughout my life. So when I meet people who are unaware it’s sort of alien to me.
its crazy lol
We do free pre purchase inspections because if you are unhappy with your new car you will take it out on me and then I take it out on my dog. So free pre purchase inspections are a norm at my shop. Customers are shocked.
And if you find something that is one owner and the people are really nice 😊 RUN 🏃🏻♀️ as fast as you can I bought a used Toyota Rav 4 from a devout religious couple with a nice house and beautiful well behaved grandchildren They lied 🤥 like a bunch of lifelong repeat felon offenders
I had a pre purchase inspection done on a 2018 RAV4 that was a trade in at a Lexus dealer. My shop found that the rotors needed resurfacing and the dealer agreed to do it and gave me a Lexus to drive while in their in their facility.
Thanks for the advice Lucky. I've been keeping an eye out for a 2011 or 12 Avalon to replace my Grand Marquis. I lucked out when I bought it 5 years ago as it was a one owner little old lady car and it has served me well. I saw a 12 Avalon with 95 K one-owner based on Carfax at a local dealer for 15 K. I think that's way too high for a car which is well over 10 years old. They are capitalizing, as you said, on the one-owner low mileage cream puff scenario. Take care.
100% agree with your statements about getting a PPI on a car before buying it, especially in this market. It is essential. It's well worth $100 now to avoid all the headaches you might have to endure in the future if you don't do your due diligence.
Thank you for the honest tips and truthfulness. A lot of younger people are driving and wrecking cars too that's contributing to some of the crap at the auctions.
We didn't have kids when I was growing up...,
...and people wonder why people like me just buy new Japanese cars, take good care of them and drive them a long time.
drive it till the wheels fall off
The used car market has been cherry picked over a few years. What remains is high mileage cars with high prices.
The dealers I’ve gone to will not let me take the car to a mechanic for inspection. They will let a mechanic come to their lot to inspect the car. The lemon squad seems to be the only group I’ve found that will do this. This made me a bit suspicious but maybe this is normal operating procedure. Have not purchased a car as of yet.
thats ok too. some dealers are scared of being left with a inspection bill
If they wont let you take the car to your mechanic and find someone who will.
I spent $1200 on consultations recently for some cosmetic work I’m doing. I don’t regret talking to 5 or 6 doctors- because if I make the wrong choice, it could cost me an extra $20k. Same idea about taking every car to a mechanic to get it checked out!
All this sounds like the movie the Big Short;
rating agencies will give loan(this case a car) a HIGH rating in exchange for $fees$
loan officers will approve ANYONE with a pulse….
later on… 2008 happened.
yep. Greed and Debt will doom us all
LemonSquad is a great option I used for purchasing out of state and more importantly inspecting vehicles out of state. The $200 was worth it to see objective feedback on tire tread, wear and tear they didn't show in dealership photos and any additional issues you wouldn't know if you weren't a trained mechanic. They will also transfer that inspection over to another car if your prospective car happens to sell before their scheduled appointment.
Thanks for sharing
Lemonsquad has horrible customer reviews.
They just do a visual inspection
Thanks
Let me guess, you work for lemonsquad.
I agree about observing how the seller maintains his property. A real estate investor once told me he usually walked prospective renters to their car, to observe if it was dirty or clean. Can learn a lot about folks observing how they treat their possessions :)
Great idea.
Here in my area in LA. Expensive, high mileage, and with damage reports. And vehicles with like six owners. 😂 It sucks right now if You're trying to get a car.
$$$$$
If you’re looking for something cheap in LA, the OPG police garage auctions have deals if you can take the time to go to the auction. Unfortunately most of the auctions are during the work week, but deals can be had, just be aware of the status of the registration.
Thanks for the advice. This eeally helps people have a better chance of getting a decent car.
There is a lot of junk on the Used Car Market for insane prices. Cars with over 100K miles on there 4th life cycle for over 12k here in Charleston SC.
Awesome videos, brother. Thank you for the information everyone else is afraid of giving out.
Detailing at a dealer's auction in Phoenix, vehicle owners are drinking and getting high, Not paying bills or paying to clean or fix anything. Gets towed. Every car reveals a lot about the owner type. Some don't know how to treat there kids right so there kids take it out on the vehicles
Lucky, you're a used car dealer. What sort of process do you have in place for when a customer says he needs to drive the car he's interested in across town to his mechanic for a PPI? There has to be some liability involved. Is your insurance company ok with you just handing over the keys and trusting the customer will bring it back unscathed?
We copy IDs we also have a repair shop so their tech can check it here
How many techs will actually go to another shop to do ppi's??
fantastic vid! wonder what u think of very late model euro cars like volvo 4 cyl's and audi Suv's , etc, from '17, even '19 with 120K or 140K miles for the $18-20K price points? seems like not a smart buy for the end buyer at that price, right? The volvos apparently can have issues even when not supercharged 4 cyl's. The audis are usually the v6. Otoh much lower mile MB GLC's are $25 when directly sold by first owner, saw one w/ 60Kmiles like that.
Awesome, independent dealer insider video on what happens in the shell game known as “Condition Report” on vehicles. Imagine that, advantage franchise stores, over and over and over again. How in the hell this is not illegal, beyond comprehension.
With used car prices so high, this causes these high peices for used cars. I agree most of the cars in the used market are junk. Any cay with over 110k miles will require expensive repairs.
Such great advice; thanks Lucky!
Thank you for a helpful explanatory video concenring the used car market auctions.
With conditions this bad in the used car market auctions I am left wondering why the entrepenurial types have not yet found an alternative to the crookedness of the present system.
Excellent video .. for years I’ve had the same issues with the auctions .. there are too many people in the biz that don’t know cars
❤️❤️❤️
Totally agree. Here is Honolulu Hawaii, a lot of old vehicles with very high mileage and asking way too much. There also seems to be more Rebuilt titles and vehicles that are suspect. Anything that seems to be decent, prices are close to new.
Intro is cool! Good work Mr Lopez.
Thank you brother, I really appreciate this video. I will be back in Vegas next week. I will looking for my bucket.
Bucket shopping is always fun
"Mickey-Mousing cars"--Mickey would consider that an insult! 🙂
Mannheim gives higher CR grades to franchises, totally dishonest
1000%
I was a small dealer when the lockdown started. That, online only bidding, and bogus CR reports put me out of business. Just like you said, if you are going to buy at auction, you HAVE to look at it in person.
This guy is fantastic 😊
thanks
@@LuckyLopez777 deserved my friend. You tell the truth and help people. Good for you!
I am glad there are guys out there like you to tell people not to do stupid shit
Excellent unpacking of the madness in the marketplace - and kudos for correctly describing how the main dealers and banks get a pass on the condition report. I'm retired from a 30 year career in the car business and the only other thing I would add to what you said is for buyers to be hyper aware of odometer fraud. Also beware of cars that have had extensive collision work but have no insurance claims or body shop history.
❤❤❤
can you make a video on manheims insane auction fees and how they're screwing over dealers with endless fees and fake CR's
I have a few videos on Auction Fees
And deny every arbitration
A lot of private sellers still have unreasonable price expectations
I worked for a dealership that only paid a certain percentage of the cost of parts and they never approved any maintenance on reconditioning cars before listing for sale. Few times people complained when they came in for their first free oil change and were advised that the cars brakes were low, or they had VERY dirty air filters and cabin air filters and were told to pound sand. I worked in the parts department and I helped source parts for the used cars, they were so cheap to the point where there were times that the used car manager came back with a print out of an ebay listing and said "buy this one" I told him "it comes out more expensive with the shipping and once the cost of the part gets marked up" he had me sit down with the managers for doing my job. they were always looking for ways to cheap out. Organic brake pads that lasted months for the portion of the price was one of them, if they absolutely needed new brakes and they would usually pad slap. What I am getting to is they wanted to keep costs lower to charge a decent price but at the cost of the employees. no one in the parts department had a significant raise since the early 2000's and this was in 2017ish when I left. While other sister companies functioned different they would not let you leave to another, the other parts departments earned a commission in December every year but not us. It was frustrating working there, the people were really cool and that's what held the place together after realizing other dealerships had better structures people started leaving. Now all the departments are a rotating door for employees. "to be so effective we can be helpful to others" was the slogan but " Fuck the employees" was the second one.
and most used vehicles in Vegas cost more than in other states.
yeah our market is definitely over priced
Take a code scanner with you when looking at used cars. People love to reset computers and wipe the codes.
GET IN TOUCH ❤..
Thank you so much for the important information.
Good to know 😊
Blessings, Carlos ✝️🙏❤️😊🇺🇸
You are so welcome
Nobody around me will bring a car to ur mechanic to do a pre purchase inspection. Car flippers dominate the market in South Jersey. It's come get it immediately, first come first serve, no appointments, no PPI. And I can't find a mechanic to pay to come with me to look at a vehicle, with notice. There is a service called Lemon Squad and it costs $200. They do hook to an OBD-II, but I have one and can do that. I feel like a mechanic shop could be more thorough. It's really hard out here. I bought a car a year ago and found out it was a lemon and scammed. They rolled odometer back and hid issues with transmission. I even had a mechanic give it a cursory inspection and they said it looked good. So you never know. So now I'm trying to buy another car with the last bit of money I have. I'm a single parent and disabled. I've been looking for 2 months, I have no car, but everything has had red flags and I don't want to make a mistake again. Scared to death. So stressful!!! 😢
I bought a car a few years ago as a daily driver. I had it inspected, and it had $6k worth of repairs on its inspection.
I knew what they were going on to the purchase. I wasn’t blindsided after I purchased it. The car drives well. I typically drive it within 3 miles of the house. Nothing has ever broken. The car had started for years now. I maintain it. I will pull the front transfer case to replace the mount when I replace the CVs. I knew what the sounds were. I never had to bring it to a mechanic and have him try and tell me it needs what he thinks I can afford and scare me into fixing functional parts. I learned within a week how to accelerate after shifting into drive without the transfer case thunk.
Love the channel. Learning A LOT. I am a consumer. Have you done a dimensional analysis on should I buy new or used. That would be really helpful right now.
Lovryour channel, but why are the Vegas dealers so hard to deal l with? . Bought cars in Ca, Ut, Or and NC. . Yes I have good credit to boot.
I tried to tell my friend last week, but he didn’t listen. He asked me for an advice, than he went and bought an over priced KIA Forte GT2 for $29K he said he got a good deal because the salesman told him so. I told him not to put a lot of money down, what did he do? He puts $9000 down with $645 per month. So he believes a thief salesman who told him it was a good deal with his credit score of 720. Ignorance is a very expensive prices to pay in my opinion.
good info man - I never pay much attention to CR bc the same car will get 5 different ratings if run 5 times (just set it to 1-2 bc every car has something..
Shopping MSRP for compact trucks: why can Google - with such confidence - show me endless MSRP prices that are 40% less than what these goddamn dealers are selling them for…. used… like, a base model Ford Maverick is NOT a FORTY THOUSAND DOLLAR CAR, bro?
prices are going to drop soon
My source in Mexico told me the Maverick is a cash cow for Ford and only cost them around $8000 to build.
@@tdgdbs1 that’s insane. I knew they were saving money down there, but 8k for one unit.. would make more sense why everyone in the chain of sale wants a cut of that :/
@@LuckyLopez777 And, I have ALWAYS believed in the "tooth fairy" LOL
@@tdgdbs1 It costs them THAT much? Scotty Kilmer claims that the Mexican get paid $8 A DAY. And second only to Trump, Scotty is the most honest person on the planet!
The S 2000 market is insane. I bought my first one in 2010 it was an 03 with 60,000 miles on it. One owner paid 17,000 for it the cheapest I could find now because I want to get another one is 18,000 dollars for a 2002 with 140,000 miles on it😢 worst part is I don’t think those cars are gonna go down
I think they will be going up. especial how kids are crashing them or messing them up
@@LuckyLopez777 your facts hurt my heart. But you’re probably right. Might get another 280z or a new gr86. Any advice on the new GR I’m thinking of just paying cash for it is that reasonable? Will I get a better deal if I finance?
@@cidfacetious3722with interest rates the way they are I’d probably leave it in a high yield and just pay it off quick.
@@deej628 thanks. Never buy a car new. I was thinking of putting 15 or 20 down on it to try to get my payment slow and pay it off fairly quickly still not sure if that’s the smarter option or to just pay cash. Do you know if dealerships are more willing to lower the price if you outright buy it or do they prefer to finance?
If your heart is set on a particular car that is collectible, you're gonna pay through the nose.
I also always appreciate the quality content of your videos
I'm guessing the Jeep magically was back to 4.5 when they resold it.
I wish. only 3.5 after complaining
@@LuckyLopez777 And after they put it up for auction again?
I'm looking for an older Lexus GX470. Have any in Vegas for sale?
Incredible video Lucky. So much great info for dealers and consumers. A condition report is only as good as the person doing the inspection and the auctions hire people with little or no experience for minimum wage. Enough said. Check every car personally before you buy or you’re taking your chances :)
That was what hurt Carvana, a tech company that made money by financing the sale of cars that people with no experience had to inspect before sale.
In 2008 we bought my wife's 1999 Lexus RX300 with a 125k from Lexus of Naperville for $9,300 out the door including tax title, lic. It looked new and well taken care off and at the time the sales guy said it was rare to have a 125k mile car on their lot and normally would have went to auction. Fast foward fifteen years latter the same month purchased and last week cylinder #4 bit the dust at 391k. I do all my own minor and major mainteance work so I'v had a hand in it's longevity but it's an 90's Toyota at the end of the day. 266k in fifteen years with no car payment so no complaints and I think it's a burnt valve so I am in process of pulling the head. We've have been car shopping the past week and it's a pure nightmare. She likees the 2015 -2017 NX200t but a 2015 with a 100k is going for $23k. Out the door with all the post pademic shortage b.s. add-ons it's closer to $26k. $26k for a 2015 rebadged turbo Rav 4 and non warranty. Sorry, i'll pass. Others such as a Honda dealer near us are charging a $2k premium over msrp just for having a new CR-V available though I have pushed my wife away from it due to the turbo and CVT since we keep our cars fifteen years plus. I heard how bad it was post covid but now we are seeing it first hand. "Certified" three year old Rav 4's with 50k now selling for new prices due to having a certified warranty. The Toyota effect is in full swing with one Toyota dealer having a 193k 2016 Rav4 for $14k that pre covid would have went to auction. I'm a beliver in Toyota long term reliability but at almost 16k out the door with 193k miles I just can't. I've now pushed my wife towards a new Mazda CX5 because they are a bit more availabe since everyone is now all on Toyota and Honda. I like the simple fuel injection and 6 speed auto for longevity so with Mazda sticking with what works with minimal changes and refreshes since 2017 has me jumping camp.
Finding a dealer you can trust takes time and education on what to watch out for. I've had the best luck with dealers who are outside of the metro area. They have to work harder to get customers from the city to come to their dealership. I've purchased 2 vehicles from just such of a dealership and I believe I got a decent deal. No hard sales just a respectful experience. It also helps to know exactly what you are looking for, what the market is and that you have your finances and or cash on hand so you are ready to make a deal. It's a 2 way street. You want to work with a knowledgeable and respectful dealership then you should also have the same qualities.
I'm a dealer. Yea, you better put your eyes on it. Had a similar situation at Copart. Clean title, supposedly run and drive. I brought it without checking it. Someone brought a junkyard engine and slapped it in there with the junkyard markings all over it. However, they forgot to finish the install. Had to fight for a few months to get my money back and return the vehicle. I knew better and usually as a mechanic go and check all my vehicles personally. Slipped one time and it cost me. So do yourself a favor, lucky is so right!! Check em out!!!
The dealers and the auction houses are in cahoots together to keep these grades high. Definitely trying to screw dealers on that end…
These are fantastic takes, I'm wondering if folks who went through the 2008 financial crisis had it easier than me right now. The market conditions these days are really causing me a lot of stress. I'm worried that this could put a wrench in my retirement plans. what's the best way to take advantage of this bear market?
The folks in 2008 didn't have it easier than you. That's why they're mostly very careful now.
I grew to a 7 figure well-diversified portfolio. I buy quality firms, anticipate to hold them regardless of what happens, pay up but not too much, keep track, sell only when necessary, and be ready to course correct. also ignore the forecasts and market views which are at best entertaining but completely useless. ever grateful to Trisha Jean Webb my F.A... House and cars all paid off and no other debt.
@@RandyPelletier Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
Thank you Mr Lucky , you video is awesome and clearly articulated .
Currently looking for a used car. Very often, there are clear signs of an accident or at least a suspicion of one...different colored fenders and bumpers, rebuilt transmissions, replaced engines, etc. Also, water damage that was bad enough to start growing mold in headlights.
Good advice. I had trouble seeing where the CR values and things wrong were on those things you pulled up. I wish there was a mark or something on them that showed what you were talking about. I'm just buying a car from a friend and know he takes care of stuff.
I went to dealers, tried Facebook Marketplace. Dealers and the FB people want more than the things are worth.
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I learn something every time you post👊 Thank you Lucky 👍
Glad to hear it
The used market is total junk at this point. I think it's starting to reflect the lack of supply from the all of the vehicles that weren't built. Good cars are likely financially responsible people who are keeping them because it's going to cost them way more now to buy something newer on their traditional four to seven year schedule.
I am no longer considering a used truck and will be going brand new and ordering it next year. It's simply makes no sense to pay these prices which likely will not come down as much as we thought. I think that lack of production is now going to start to rear its head to the used market. Good vehicles are not being sold and it's junk and high mileage stuff. When I filter out The junk to just show one owner personal use f-150s with a certain configuration, there's almost nothing within hundreds of miles. It's just gotten worse as of late
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I am the 6th owner of my vehicle since 1998 The prior owners all had the same last name in South Carolina. It was my last $3k, and I already looked at 20 other rusted out Craigslist minivans that were all run into the ground, but still running, before I found my 98 Sienna 119k was a trade in, sitting on a used car lot, asking $1000 above top KBB value $3200 My 19yr old van at the time never saw snow until I got it. I paid $2400 6yrs ago for a run forever no rust 1998 minivan and fix any issues myself. Runs like new!
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I watched your Videos because I was looking for a used car. Thanks to you I was able to get myself a used car. Thank you Lucky
Great to hear!
Looking forward to cpo deals later this year!
For a decent mechanical pre inspection it is hard to get one that is thorough for less than $200 even though that is still money well spent, especially if you have an agreed deal in writing with a contingency that the buyer gets a mechanical inspection that he /she agrees to as a condition of the sale at the price which was agreed to regardless of whether the inspection report was good, bad or somewhere in between.
Great vid!!
Most new cars NOT all are sub par for the price
question: how does an average consumer find the MMR price for a vehicle? thanks in advance
Dealers got greedy? Noooo.
Junk and junk everywhere.....and They are overpriced...don't pay it...