Has the Used Car Market Collapsed?

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  • Опубліковано 9 чер 2024
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    Today I am taking a deep dive into the status of the current used car market and answering the ever-concerning question, "has the used car market collapsed?"
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    CHAPTERS:
    0:00 THIS...
    0:34 CARS & BIDS!!!
    0:47 Is the Used Car Market Crashing?
    1:13 My Car Isn't Worth This Much!?
    1:56 THIS IS NORMAL
    2:37 The Market Was Only Different for 3 Years
    3:31 The Sign of a Healthy Car Market
    4:30 This Upsets Some People
    4:59 The Bubble has Deflated
    5:53 Do You Have Short Term Memory Loss?
    7:21 Some Cars Are Staying Flat
    8:14 Conflicting Feelings
    9:19 Final Thoughts
    #dougdemuro #carsandbids #carmarket
  • Авто та транспорт

КОМЕНТАРІ • 1,5 тис.

  • @mircomuntener4643
    @mircomuntener4643 22 дні тому +983

    As someone who depends on depreciated shitboxes for daily transport, it cannot collapse far enough fast enough.

    • @abrahammc2125
      @abrahammc2125 22 дні тому +11

      Yup, I just want a depreciated F15 x5. Having a hard time telling buyers that their car is not worth 6k more than market value. I found one, but unlucky me, someone else already looked at it and was ready to pay the same what i offered for a car that was destroyed by kids, interior was horrible.

    • @Moont706
      @Moont706 22 дні тому +4

      Same

    • @mida8261
      @mida8261 22 дні тому +46

      As a person who bought a shitbox in January, 2020, I would like to be able to buy another shitbox for $2500. I'm not paying double for one.

    • @Pods_Vids
      @Pods_Vids 22 дні тому +6

      ^ this, same here.

    • @prabeeshsidhu
      @prabeeshsidhu 21 день тому +1

      @@abrahammc2125 n55 or n57?

  • @fastfarari
    @fastfarari 22 дні тому +2005

    Fb marketplace sellers definitely don’t believe in this

    • @jimsmith8797
      @jimsmith8797 22 дні тому +102

      Nah but they’ll trade you their ps4 and a snickers

    • @Ornelas11B
      @Ornelas11B 22 дні тому +103

      Not having a Facebook is the best thing for you.

    • @christianh.4881
      @christianh.4881 22 дні тому +123

      No lowballing, I know what I got!

    • @TheWarback1
      @TheWarback1 22 дні тому +83

      oh god people want 5000 for their 250k miles e46 330i and wonder why they cant sell the car

    • @RonHaslam2001
      @RonHaslam2001 22 дні тому +27

      Time will adjust their mind

  • @Almighty_cornholio
    @Almighty_cornholio 22 дні тому +209

    I get that prices aren’t ever gonna be as low as they used to be but the fact that a loaded cr-v and rav4 is pushing $40,000 is absolutely nuts to me

    • @bwofficial1776
      @bwofficial1776 22 дні тому +9

      Inflation. Everything is expensive now and cars have more technology and engineering than ever.

    • @vincentpapaleo4803
      @vincentpapaleo4803 22 дні тому +33

      The other side of that problem is $40,000 isn't a "lot of money" by today's cost of living standards, but it is still hard to attain $40,000

    • @Almighty_cornholio
      @Almighty_cornholio 21 день тому

      @@vincentpapaleo4803 truth ,my car was $30,000 and even making $75,000 a year that was a lot of money

    • @sburns2421
      @sburns2421 21 день тому +17

      @@vincentpapaleo4803 Everything that is a necessity has seen very high inflation and wages have not kept up. $40k for a RAV4 is insane. it is a little SUV dads buy their daughters to go to college.

    • @andrelam9898
      @andrelam9898 21 день тому +10

      I would add that the RAV4 and CRV are totals different cars than they were a decade or more ago. They are now an an entire class bigger and more luxurious. They are no longer small, simple cross overs. As such their price has gone up. It seems like car manufacturers love making their newer versions bigger and more luxurious and therefore more profitable.

  • @senatorchinchilla5389
    @senatorchinchilla5389 22 дні тому +161

    The fact that normal cars appreciated at ALL was ludicrious. Cars wear out. They are a depreciating asset, unless its a super special antique.

    • @dannysmith9882
      @dannysmith9882 21 день тому +2

      They dont have to be antique, just special see Ford GT etc that never traded for less than MSRP

    • @Shawnrraines
      @Shawnrraines 21 день тому

      Its even more atrocious when the car is modded, kitted or tracked in anyway.

    • @zaco-km3su
      @zaco-km3su 21 день тому +4

      @@baronvonslambert
      No, it was ludicrous.

    • @PaulThompsonGB
      @PaulThompsonGB 21 день тому +7

      Almost all cars are liabilities and not assets

    • @obomasinladen
      @obomasinladen 20 днів тому +4

      ​@@baronvonslambert Id wager printing 5 trillion+ dollars had more of an effect than a slow down in production. Our monetary supply was increased by 30% in what, a year? So no wonder your avg car increased in value 20-50%.. Not to mention everyone had stimmy checks burning a hole in their pocket. You know how many people bought shitboxes with that? A lot a lot. Just caused even more demand in the low end of the market resulting in a domino effect.

  • @dsrogersjr
    @dsrogersjr 22 дні тому +1279

    If anything, prices are still elevated over normal. New car prices have increased so much since 2019, that it's still supporting higher used car prices

    • @umoramayori
      @umoramayori 22 дні тому +20

      Sad thing is, car prices have barely kept up with inflation.

    • @EspHack
      @EspHack 22 дні тому +10

      this is merely a pause, nothing stops this train

    • @lot2196
      @lot2196 22 дні тому +21

      EV'S. They aren't producing as many vehicles people actually want. Just to chace the ev fantasy.

    • @rw0037
      @rw0037 22 дні тому +72

      Also, it's not just inflation, but OEMs have stopped producing a lot of cheap cars. It's legitimately difficult to go out and buy a "cheap" economy car in the low-mid $20k range. Oh, but if you want a $50k SUV or a $70k pickup truck, the dealer lots are absolutely full of those.

    • @bdydrppup
      @bdydrppup 22 дні тому +21

      @rw0037 the EPA and safety standards have also driven the price of even the cheapest cars up.

  • @xrtxrsm05
    @xrtxrsm05 22 дні тому +501

    It’s called market correcting, not market collapsing. Simple.

    • @AB-80X
      @AB-80X 21 день тому

      Try and tell that to the moron who paid 100k over for a GT3.

    • @zaco-km3su
      @zaco-km3su 21 день тому +10

      In this case yes.

    • @Samtallica
      @Samtallica 20 днів тому +7

      I just wish the rest of the market would correct. When your car is worth half what you paid 2 years ago, selling it makes no sense because the rest of the market hasn't corrected with it. Both your dollars and your car are worth less than they were 2 years ago, so if you sell, you're selling at a major loss. I'm fine with depreciation but this economy is unsustainable.

    • @AB-80X
      @AB-80X 20 днів тому

      @@Samtallica
      That's what happens when inflation runs rampant. Did all those people really need a new car back then? Does all these people need a new car after two years? The party is over, people made their bed, now they can lie in it.

    • @epiccowboymemes2042
      @epiccowboymemes2042 18 днів тому +5

      ​@@SamtallicaFor a daily, the value in your car is its longevity. If you're someone who collects low mileage and/or classic cars I can understand why this would be infuriating, but for commuting, the value of your car IS your car. My car did exactly what you described. It lost HALF of its value (on paper). It's no less reliable/dependable than the day I drove it off the lot.

  • @mrbruh3541
    @mrbruh3541 22 дні тому +267

    “Will quirk 4 features” 😭😭😭

    • @97Crazysteve
      @97Crazysteve 21 день тому +10

      My favorite part is when Doug said "It's quirking time!" and then quirked all over the place.

    • @2015BLOXXER
      @2015BLOXXER 21 день тому +1

      @@97Crazystevewhat? 💀

    • @IWantMyHortTruck
      @IWantMyHortTruck 11 днів тому

      @@2015BLOXXER ya brain is rotten

  • @DeliriumzzZ
    @DeliriumzzZ 22 дні тому +209

    Doug: "This is how the car market has been for Hundreds of years"
    - Didn't know the second-hand car market was poppin' in 1824.

    • @alexflosho
      @alexflosho 22 дні тому +19

      Nah, the used autos market was in a depression from 1815-1837.

    • @BostonCycling_
      @BostonCycling_ 22 дні тому +19

      My Horse and buggy has depreciated

    • @jamesengland7461
      @jamesengland7461 22 дні тому +11

      ​@BostonCycling_ you misspelled defecated 😂

    • @jagpilotohio
      @jagpilotohio 21 день тому +6

      Horses and oxen depreciate as they get older. 😂

    • @wendysamuels4366
      @wendysamuels4366 21 день тому

      Um, sorry but "hundreds of years?" No.

  • @kenchen2668
    @kenchen2668 22 дні тому +348

    Sellers are always the last ones to learn about a market recession

    • @wfyfwfyf
      @wfyfwfyf 22 дні тому +23

      Except when it comes to the labor market. Buyers (employers) think it’s still a cheap commodity.

    • @LuisUrbieta
      @LuisUrbieta 22 дні тому +1

      What car brand & cars are immune by not having reliability issues? Plz reply​@@wfyfwfyf

  • @PaulThompsonGB
    @PaulThompsonGB 22 дні тому +719

    New car prices need to come down big time. These manufacturers are crazy thinking people think its ok to buy a truck for 100k being normal.

    • @gkrebs6636
      @gkrebs6636 22 дні тому +118

      45K for top of the line Corolla...crazy

    • @mattr8904
      @mattr8904 22 дні тому +51

      New car prices won't go down... it's called inflation.

    • @TransparentMediaTruth
      @TransparentMediaTruth 22 дні тому +9

      Mrkt trends up...& down > ppl tend to cherry pick & then freak out > climate being a textbook example...but farbeit for me to digress > general trend however (over last 3 Decades) will likely continue trending on par or inline with historical averages > unless you buy a new EV 😳

    • @magnificus8581
      @magnificus8581 22 дні тому +70

      If you are spending $80,000 or more for a pickup truck, you seriously need to examine your priorities

    • @XxMusclecarsxX
      @XxMusclecarsxX 22 дні тому +18

      Yet people buy them

  • @user-rk3ho3lc5q
    @user-rk3ho3lc5q 22 дні тому +179

    Bunch of AARP people got offended that their C8 Corvette is not an investment.

    • @user-qu1bd4nx5d
      @user-qu1bd4nx5d 21 день тому +10

      Yeah basically lmao

    • @hellogoato
      @hellogoato 21 день тому +30

      But MY Corvette is BEST Corvette

    • @Glideslopes
      @Glideslopes 20 днів тому +9

      Right, Too funny. I was tired of the color of my 2023 Z-51. Just received my 2024 Z-51 in Cacti Green. Cash. It's good to be a Boomer.

    • @Johnnyjingles87
      @Johnnyjingles87 20 днів тому +3

      I'm sick of seeing them there are 3 in my neighborhood!

    • @brettheyer2421
      @brettheyer2421 18 днів тому +6

      @@Glideslopes what a terrible way to spend 60-90k. So many more unique, desirable and fast cars for less. I guess if you're a Chevy fan boy, it's right up your alley though

  • @TALCOLMINTHEMIDDLE
    @TALCOLMINTHEMIDDLE 20 днів тому +7

    Reminds me of when I worked for a paper shredding company in 2009 and we got a pallet of "how to get rich flipping houses" books printed in 2006 with a graph on the front with a chart arrow going up and up and up

  • @braydenbro9247
    @braydenbro9247 22 дні тому +723

    That thumbnail is golden

    • @manbatmiso
      @manbatmiso 22 дні тому +6

      Reddit gold

    • @ipodtouchguy039
      @ipodtouchguy039 22 дні тому +34

      Will quirk 4 features 😩

    • @dasfabelwesen
      @dasfabelwesen 22 дні тому +8

      Haha, homeless people, am I right?

    • @Rteula
      @Rteula 21 день тому +2

      I laughed out loud

    • @ipodtouchguy039
      @ipodtouchguy039 21 день тому +6

      @@dasfabelwesen you must be fun at parties. Tell them to try “working 4 money”. That usually helps with homelessness.

  • @anthonyvink7153
    @anthonyvink7153 22 дні тому +549

    People are confused about the difference between USED and COLLECTABLE. They think their 3 yr old BMW X3 should be worth 95% what a new one is, which is more than they paid.

    • @54FLEX45
      @54FLEX45 22 дні тому +16

      True, but as Doug made an example with a 997 911, collectible cars are dropping too. A heap of people borrowed money at a cheap rate at market peak and are now underwater on their collectible cars.

    • @blackeye3336
      @blackeye3336 22 дні тому +3

      No not true collectable Cara like old GT500s old ZL1s old M3s etc are Def still going up sadly

    • @justsomeguy6474
      @justsomeguy6474 22 дні тому +20

      @@54FLEX45 lol the 997 isn't a collectable.

    • @WarriorsPhoto
      @WarriorsPhoto 22 дні тому +5

      I know all about this.
      It’s amazing how many people believe their car is a collector item and attempt to get way more than it’s worth.
      It’s all good and things are beginning to normalize. (:

    • @abel4776
      @abel4776 22 дні тому

      @@blackeye3336 GT500's and ZL1's are collectible? Or overvalued trim models?

  • @m40dot
    @m40dot 22 дні тому +47

    Doug the type of guy to say he “likes to buy depreciated cars” in front of his Countach and CGT.

    • @Tablerocked
      @Tablerocked 21 день тому

      Dead meme kept alive by morons in an attempt to feel like they are important and humorous. Fail. Grow up.

  • @aaronmann4809
    @aaronmann4809 21 день тому +29

    Doug, we don't see enough of your Ford GT. You typically have the Countach and/or the Carrera GT in the background. Time to rotate the cars so the Ford GT gets in on some videos.

  • @omnijack
    @omnijack 22 дні тому +411

    Magnificent thumbnail

  • @user-ux6gt4tg7f
    @user-ux6gt4tg7f 22 дні тому +121

    As an 18 year old.... thank God

    • @neontv2843
      @neontv2843 22 дні тому +5

      facts, waiting for prices to go down so i can get a used car for a reasonable price

    • @Fasteddie1085
      @Fasteddie1085 21 день тому

      Lol facts 😎

  • @Affalterbach1967
    @Affalterbach1967 22 дні тому +54

    You know the market has collapsed because Doug can no longer afford cookies. In the old days, the fender or window sills of his car always had a nice stack of cookies.

    • @TheZeusJuice
      @TheZeusJuice 21 день тому +5

      Probably his waistline started to appreciate, so he had to cut down on the cookies 🤣.

  • @Gazdatronik
    @Gazdatronik 22 дні тому +13

    A couple I know were buying brand new high demand premium cars and selling them within a week. They made sure to buy them in South Carolina as apparently the taxes per vehicle bought were very low there. Then they would sell them to smaller private car dealerships specializing in slightly rarer offerings, as while it's not legal to sell more than X number of cars privately per year else you would need a dealer's license, it's totally ok to sell as many as you like to a dealer.
    Our usually bland parking lot had some ridiculous high spec Euro vehicles rotating in and out for about three years.
    I was like "Done right, this could be a movie!"

  • @sorenslothe
    @sorenslothe 22 дні тому +42

    The video is one thing, but that thumbnail is a work of art

  • @Ornelas11B
    @Ornelas11B 22 дні тому +156

    All those Hellcat owners are crying right now too. A lot of people that bought Hellcats are just letting them sit thinking they’re gonna get a huge payday. Nope! I forgot to mention they paid well over MSRP for their Hellcat as well so they’re really screwed lmao!

    • @gnoxycat
      @gnoxycat 22 дні тому +13

      Dude, that firebird from 30 years ago is going to be worth as much as they paid for it any time now. As long as it has less than 1,000 miles on it.

    • @SeraphCrimson777
      @SeraphCrimson777 22 дні тому +10

      Good for buyers though. I'm seeing manual Hellcats with 30-40k miles going for low 40s now

    • @Chthonian121
      @Chthonian121 22 дні тому +3

      With 30% APR too lol

    • @user-vx7vi3vq1c
      @user-vx7vi3vq1c 22 дні тому +5

      Same thing happened with Dodge Vipers. There’s a ton of them with sub 5,000 miles which took up garage space for 30 years.

    • @Ornelas11B
      @Ornelas11B 22 дні тому

      @@user-vx7vi3vq1c Anybody that sits on a car for decades thinking they’re gonna get rich is an idiot. Drive your cars!

  • @crodlu98
    @crodlu98 22 дні тому +58

    This needs to be a PSA broadcasted on every TV for the next month.

    • @Lorentz_Driver
      @Lorentz_Driver 19 днів тому +1

      Nah he's extremely out of touch with prices.

  • @patmanz28
    @patmanz28 22 дні тому +37

    I'm glad Doug made this video. I have friends now that are trying to sell their used trucks for more than new trucks and they're not getting any bites and they are losing their mind.

    • @AB-80X
      @AB-80X 21 день тому +7

      Selling a truck for over MSRP. Must be a real bunch of clowns.

    • @shanet7511
      @shanet7511 20 днів тому +2

      Or the people with 20yo ran down beater 250k mile diesels thinking they're worth $35k🤣

    • @mitchhedberg4415
      @mitchhedberg4415 20 днів тому

      @@shanet7511
      They saw "the same thing" on Barret-Jackson!

    • @derrickdean7224
      @derrickdean7224 19 днів тому +3

      @@AB-80X It’s not that they trying to sell over MSRP, but that full size trucks are back to being discounted $10-20k. They paid MSRP in ‘22 ($50k) and today the same trim but brand new can be bought for $40k. People selling a ‘22 want $35-38k (what they owe), but the rest of us can buy a new one for a few grand more.

  • @STNGR4Y
    @STNGR4Y 22 дні тому +43

    Fantastic thumbnail, really makes you FEEL like you're watching Doug Demuro

    • @hotmdmd
      @hotmdmd 22 дні тому +1

      We got a fellow Dunkey fan over here

  • @celesyn
    @celesyn 21 день тому +10

    for many of them, i don't even think that it's a lack of memory - it's that they don't WANT to remember, because it gets in the way of their greed.

  • @zmurray52
    @zmurray52 21 день тому +10

    As an employee of a dealer for over 14 years, I can confirm that Doug is correct about the current market correction on preowned cars. We are coming off the artificial highs of the Covid times, and things are normalizing back to the way things were before. It is a great time for deals to be had on collector cars right now. We will see prices rise on lower priced vehicles as the public won't be able to stomach new car prices much longer. Buy within your means and enjoy!

  • @Selsigs
    @Selsigs 15 днів тому +3

    This is such great news for those of us who love buying and building cars on a budget. Over the years I’ve bought and built 12 OBS Ford F Series trucks (92-97). The past few years I haven’t even been able to touch the clapped out ones because they got popular. Within two miles of my house there are two very nice crew cab powerstrokes, both started in the mid $30,000’s. Both are now priced in the mid teens and still not moving. I’m taking this as a move towards sanity, because paying anything above about $15,000 for a top of the line, clean OBS Ford is just insanity.

  • @michaelfjmusic
    @michaelfjmusic 22 дні тому +74

    I love the thumbnail lmao

    • @Hobbsthetiger
      @Hobbsthetiger 22 дні тому +4

      Reminds me of the old “more Doug demuro” channel thumbnails haha those were gold

  • @mattstewart8351
    @mattstewart8351 22 дні тому +10

    I think the problem isn’t that people are freaking out that they can’t sell their cars for greater or equal value. They are freaking out because their car has corrected value for the past 5 years in 3 months, as it would usually. For example, pre Covid you’d expect to lose 5k on a car a year (just throwing a number) this was usual. Well right now, that same car has lost 15k in 6 months because it’s catching up from the past 3 years.

  • @darius2640
    @darius2640 16 днів тому +5

    Can you tell the same thing to real estate sellers who have an old home they bought for 100 bucks, lived in, used and worn out and now want to become a millionaire from one sale

  • @Yourmission9
    @Yourmission9 22 дні тому +12

    So happy my cars are paid off, I couldn’t always say that 10 or so years ago, but I’ve had mine paid off since 2020, and will never look back

  • @mujjuman
    @mujjuman 18 днів тому +6

    as a milennial, i hope a market correction happens for single family home pricing too

    • @mauricio6216
      @mauricio6216 13 днів тому

      That wont happen, cars depreciate, homes not

    • @mujjuman
      @mujjuman 13 днів тому

      @@mauricio6216 market correction, not depreciation

  • @atmartens
    @atmartens 22 дні тому +41

    It is normal… it amazed me that people were paying 5-25K over sticker for Kia Tellurides. Car companies are going to have to come up with crazy incentives because so many people are going to be underwater with their car loans/values.

    • @tboneforreal
      @tboneforreal 22 дні тому

      Wait until the eventual recession comes and all those repos come flooding the market. I see more corporate bailouts on the horizon.

    • @AB-80X
      @AB-80X 21 день тому +3

      Yep. Porsche especially will have a really rough time in the next year or two.

    • @sburns2421
      @sburns2421 21 день тому +7

      @@AB-80X Maybe, Not so sure. I still see plenty of people more or less oblivious to inflation, their ends are meeting nicely and the end of the month. Those folks buy new loaded Cayennes and Taycans. I see lower more mainstream brands possibly more at risk. Genesis or Acura may have a harder time than Porsche.

    • @AB-80X
      @AB-80X 21 день тому

      @@sburns2421
      They do. The problem is more in regards to the used Porsche market. Even people who can afford cars in the higher mid tier range such as Cayennes and Taycans are still somewhat reliant on a used market value. Many still buy and finance based on the idea that their purchase will retain a good value. In this regard the market still needs to catch up. Wait six months and see. There are people who bought cars six months ago who can’t believe how much they have depreciated. That does not mean they can’t no longer afford them, it won’t change much in relation to their income, but it means that they can’t afford to replace them either. This is where the dealers will get stuck. And VAG will push dealers hard to get new lot cars because of the severe financial issues of VAG.
      Also while Porsche is not a budget car, it is by no means the highest end of luxury or exotic either. This is relevant because Porsche is actually one of the most financed car brands in the US. They are prestigious and desired enough so that many want them, but still so affordable that you don’t need an extremely high income to finance one. People don’t finance Ferraris and Porsche for the same reasons. Porsches are financed because it is a way into a car for those who can’t pay cash, where many opt to finance high end exotics because the money invested makes more of a profit than the interest rate of the finance. So now that the interest rates go up and finance becomes more difficult as there’s less security in the car, fewer people can buy them.
      Add to this all the bridges Porsche burned with loyal clients over the past 24 months by demanding extreme ADM’s. Porsche has a very rough time coming.

    • @atmartens
      @atmartens 21 день тому

      @@sburns2421 That’s interesting. Acura tends to keep their resell values but not at what everyone has had the last couple years. I’d be curious to know how that’ll impact Kia, Acura, Honda, Toyota, and Nissan.

  • @mattthomas4533
    @mattthomas4533 19 днів тому +3

    ‘Will quirk for features’ lol that’s pretty clever Doug, you got me

  • @jose7777777777777777
    @jose7777777777777777 22 дні тому +15

    Agree 100%. I’m always happy to see prices come down even if it means mine are less valuable. This means cheaper parts for the cars I have, and cheaper prices for the cars I still haven’t had a chance to own.

  • @dqst2012
    @dqst2012 22 дні тому +10

    Im not a car enthusiast.. well maybe of large family van reviews haha ... but i know we had to purchase a car unexpectedly in 2020 due to ours being crushed by a tree.. and I remember telling my husband this is nuts! The prices were crazy. And we were looking at 2007-2010 and older minivans and larger passenger suvs... covid, the lockdowns, the chip issues all drove prices crazy. I FOR ONE am happy to see them coming back to more normal used car prices!

  • @joeyf504327
    @joeyf504327 21 день тому +6

    in 2021 my parents needed a new car for my mom. I recommended a CRV so my dad called the dealer. The dealer had a 2020 with 20k miles for $30k or ONE unsold new 2022 CRV being delivered in December of 2022. It was their last unsold CRV yet to be delivered. So they bought it sight unseen with no test drive and no idea what options it had... It was wild. The dealer was in Upstate NY and stopped selling to NYC with huge markups and would only sell to locals at MSRP with zero discounts or haggling.

  • @TheTarrMan
    @TheTarrMan 22 дні тому +55

    I'm seeing 10 year old Cadillacs go for under $5,000 now. . . I can't wait for things to go back to normal. Cash for clunkers was another blow. The most I ever paid for a car was $2500. I need cheap cars, I can't afford car payments.

    • @fortheloveofnoise9298
      @fortheloveofnoise9298 22 дні тому +5

      My current car cost $2500

    • @MrJMS814
      @MrJMS814 21 день тому +3

      ​@@fortheloveofnoise9298good $2500 cars no longer exist

    • @jasonbrannen7598
      @jasonbrannen7598 21 день тому +5

      Cash for clunkers really ruined the market, and it never recovered. Before C4C, you could get a reliable beater for a grand. Now that car is 5 grand.

    • @TheTarrMan
      @TheTarrMan 21 день тому

      So true. I was lucky to find mine. I got a 2000 panther body. That's what I paid $2500 for. I was able to get a good deal for it because mine is less desirable because it's before 2003 (pre rack-and-pinion steering) and it has a vinyl half-top (which looked like crap by the time I got it). @@jasonbrannen7598

    • @Lookin4WhoAsked
      @Lookin4WhoAsked 20 днів тому +2

      @@MrJMS814nah, you just haven’t looked hard enough or don’t know how to do basic maintenance on your car

  • @smith6ar
    @smith6ar 22 дні тому +3

    My 2016 Toyota sienna XLE premium was 22k in 2019 with 60000 miles. Now dealers are selling used ones for 21k with 120000 miles from the same year

  • @KamaraWehnes
    @KamaraWehnes 11 днів тому +206

    *Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Christy Fiore ❤️*

    • @PeterLewis-lt4iy
      @PeterLewis-lt4iy 11 днів тому

      Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God

    • @JacobEagan-wi8dn
      @JacobEagan-wi8dn 11 днів тому

      Thanks to my co-worker (Alex) who suggested Ms Christy Fiore.

    • @JamesWilliams-ep7nw
      @JamesWilliams-ep7nw 11 днів тому

      She's a licensed broker here in the states🇺🇸 and finance advisor.

    • @JamesWilliams-ep7nw
      @JamesWilliams-ep7nw 11 днів тому

      After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.

    • @DorothaIsabelle
      @DorothaIsabelle 11 днів тому

      Can I also do it??? My life is facing lots of challenges lately

  • @ryanmccullion7367
    @ryanmccullion7367 16 днів тому +4

    A used pickup truck for 30-35k with 100k miles is INSANE.

    • @JD-yx7be
      @JD-yx7be 3 дні тому

      My shitbox 95 f150 was worth maybe $1500 in 2019 was seeing similar condition ones on FB marketplace for around $6-7k at the peak

  • @fskof
    @fskof 22 дні тому +34

    The one problem Doug forgot to mention was that people were overpaying for cars with ADM’s, putting no money down and financing the car for 7-8 years…. Those people are about to receive a rude awakening…..

    • @AB-80X
      @AB-80X 21 день тому

      They are, and frankly no one should care. They did it to themselves. A moron who paid 50k over for a measly C8 made his bed, and now he can lie in it.

  • @309gti8
    @309gti8 22 дні тому +7

    Prices are coming down but the market is normalizing, not collapsing

  • @TheV8Pumpkin
    @TheV8Pumpkin 22 дні тому +64

    Wow that “T H I S” intro sounded god like with that echo

    • @hutzman7664
      @hutzman7664 22 дні тому +3

      Um…he is!

    • @Enchurito
      @Enchurito 22 дні тому +6

      No it sounded like someone in a concrete bunker who doesn't understand good audio.

    • @TheV8Pumpkin
      @TheV8Pumpkin 22 дні тому +1

      @@Enchurito cry more hater ;)

    • @slateization
      @slateization 21 день тому +1

      lol. Doug has a bond villain garage. Or it looks that way from that camera angle. And he gets 60s Bond villain acoustics. That said, I would take that garage if offered

  • @garyb2392
    @garyb2392 15 днів тому +4

    “Is your memory this short term…” 😂

  • @jimmysuperduty1484
    @jimmysuperduty1484 22 дні тому +36

    When the new bronco first came out there was one on my local dealers lot that was marked up to $120,000 (with a sticker msrp of 60k) It sold in a matter of days to some total sucker that is probably whining about the trade in value right now being 20k

    • @christiandulaney1638
      @christiandulaney1638 22 дні тому +12

      Not to be unkind, but when people do stuff like this, I think "you kind of deserve it"
      When the first Raptor came out, they were going for 40-60K over sticker. I had a friend of my brother in law lay out 47K over sticker. he had no business buying a Raptor at his income level. Even at MSRP

    • @jimmysuperduty1484
      @jimmysuperduty1484 22 дні тому +3

      Absolutely, i dont really feel sorry for them at all, they ran the prices up for all of us

    • @2Greenlid
      @2Greenlid 21 день тому

      I waited for an under MSRP new Bronco, got mine last August $2500 under! Now the Raptors are at MSRP……

    • @kirkericson2722
      @kirkericson2722 19 днів тому

      Now the off-road cred suckers are drooling over the new Lexus GX550. The few used ones on the market right now are all going for over 100k. That's LX600 money.

  • @Ratgibbon
    @Ratgibbon 13 днів тому +1

    You're on point regarding people not remembering the more distant past, it even has a name, recency bias.

  • @jensl.942
    @jensl.942 22 дні тому +4

    Then, of course, there are are the rare collectors items (like an Coutach or a Carrera GT), where demand will always outstrip the limited supply and which will just continue to go up in price. Congrats to those who have made that kind of investment.

  • @erikgranqvist3680
    @erikgranqvist3680 22 дні тому +9

    At least here in Sweden, there was a very few years some cars was worth more after 1 year then when new. The inflation was rampant, and it ended with a huge economic crash going thru our whole society was horrendous.

    • @Tablerocked
      @Tablerocked 21 день тому

      socialism - an equal level of misery for everyone, except the politicians and oligarchs

    • @travelguy78
      @travelguy78 18 днів тому

      @@Tablerocked Sweden lets their large companies go Bankrupt, while in the US its only socialism for the rich who get bailouts.

  • @Faux_59
    @Faux_59 22 дні тому +6

    I remember at least one past Doug video claiming prices on some of these same cars mentioned here will never come down again. Doug should stick with market reports instead of predictions because he just follows the trends.

  • @JoSmith5587
    @JoSmith5587 17 днів тому +1

    Thanks Doug. We needed this.

  • @detonator2112
    @detonator2112 22 дні тому +19

    A 996 owner here. When will the air cooled Porsche 911 prices are going to collapse? I've been waiting for 15 years but they just keep raising and selling for crazy money on BaT.

    • @computercrack
      @computercrack 21 день тому +9

      air cooled Porsche are collectables and pretty rare all in all so they probably wont ever go down (much)

    • @2Greenlid
      @2Greenlid 21 день тому +8

      When you talk 25 years out, collectibles won’t collapse…..

    • @dannysmith9882
      @dannysmith9882 21 день тому +9

      Itll have to be after the people who grew up liking them die off, or the whole driving thing changes due to legislation.

    • @zaco-km3su
      @zaco-km3su 21 день тому

      @@computercrack
      They're definitely not that rare.

    • @zaco-km3su
      @zaco-km3su 21 день тому

      @@2Greenlid
      They will collapse. They're just too many of them.

  • @jo_nathan_nation6544
    @jo_nathan_nation6544 22 дні тому +23

    I have seen my first C8 corvette with an asking price in the $50k-$60k range. Clean title from a dealer with less than 20k miles.

    • @kmacho714
      @kmacho714 22 дні тому +11

      I can't wait to get a c8 for 35k.

    • @chrispapanastasopoulos9192
      @chrispapanastasopoulos9192 22 дні тому +4

      @BrianEugeneLee193settle down, Francis! :)

    • @bwofficial1776
      @bwofficial1776 22 дні тому

      @BrianEugeneLee193 No one ever said it was an Audi. I'm just glad TJ Wrangler prices have stabilized, I'm looking at getting one to replace my P71 Crown Victoria.

    • @AB-80X
      @AB-80X 21 день тому

      There are now brand new C8's with discounts

    • @Chris-ho4ki
      @Chris-ho4ki 21 день тому

      @BrianEugeneLee193 I like the C8 Corvette. It’s neat

  • @ZacharyCornelius
    @ZacharyCornelius 20 днів тому +1

    Love these garage talks please keep them coming.

  • @give_me_freedom993
    @give_me_freedom993 16 днів тому +2

    Things aren't getting cheaper...everything is getting more expensive. The only thing suffering is the car market now.

  • @JelloTypeR
    @JelloTypeR 22 дні тому +3

    When the price of any asset increases out of the norm, a bubble if you will, a correction will always occur afterwards. It’s a cyclical market.

  • @CookiePepper
    @CookiePepper 22 дні тому +18

    Business like Cars & Bids are stable against market up and down since no inventory.

    • @andyleo8418
      @andyleo8418 22 дні тому +4

      Less listings, less sales, less revenue for the company. If this keeps up, layoffs happen.

  • @hardtopte72
    @hardtopte72 21 день тому +1

    This thumbnail was absolutely perfect. I love the bids and the downward arrow!!

  • @chetjohnston7687
    @chetjohnston7687 21 день тому +1

    Thank you for this great news!

  • @kuebby
    @kuebby 22 дні тому +9

    Doug: Is your memory that short term?
    People are basically goldfish.

  • @StradaRider
    @StradaRider 22 дні тому +8

    I just want to get a 997….. I thought that day was slipping away now… maybe not??

    • @dannysmith9882
      @dannysmith9882 21 день тому

      I think those are the most bestest, I doubt theyll ever be cheap.

    • @turbobrew
      @turbobrew 16 днів тому

      I have been watching 997s the past year and they haven’t really dropped, maybe $2-3k at most. I think the people who own 997s are not the type of people who are going to be affected by market headwinds. Also many people believe the 997 is the best generation so you are fighting against enthusiasts as well.
      At this point Im considering 981s which are 90% of a 997 at half the price and are 4-5 years newer.

    • @StradaRider
      @StradaRider 15 днів тому

      @@turbobrew
      Yeah, you make very valid points.

  • @ryanr482
    @ryanr482 22 дні тому +1

    I’m liking the podcast and these videos as much as the reviews tbh

  • @brendansmith
    @brendansmith 22 дні тому +2

    Finally! We sold our 2nd car a few years ago and haven't been able to replace it. It'll be good to see the market normalize.

  • @ElRigs83
    @ElRigs83 21 день тому +9

    To quote P.T. Barnum "A sucker's born every minute."

  • @coltontaylor4572
    @coltontaylor4572 22 дні тому +19

    But Doug, my Porsche is the only one in my specific color made on a specific day with a full moon. A true one of one.

  • @michaelrogers897
    @michaelrogers897 19 днів тому +1

    Doug, I am literally so grateful for this video

  • @ianmankersen
    @ianmankersen 17 днів тому +2

    $100k for a new half ton truck is my evidence that the car market is collapsing. I damn sure won’t be buying one. $800 a month payments… Never.

  • @Raul-ll3yk
    @Raul-ll3yk 22 дні тому +14

    Have price gone down? Yes. Like before pandemic ? Nop, and due to inflation I don’t think we will ever seen them

    • @tboneforreal
      @tboneforreal 22 дні тому +2

      It will eventually, but the problem is that the price declines will follow a recession. So there is pain involved in order to properly reset prices.

    • @nealp885
      @nealp885 21 день тому

      It should go back if there is a serious recession.

    • @Lorentz_Driver
      @Lorentz_Driver 19 днів тому +1

      ​@@tboneforrealevery recession the ruling class has gotten richer and richer. I don't know how many more we can take.

  • @d3fc0n545
    @d3fc0n545 22 дні тому +5

    Any collapse is a market adjustment at this point. We 100% deserve this.

    • @lindap.p.1337
      @lindap.p.1337 22 дні тому

      I do not deserve this!

    • @d3fc0n545
      @d3fc0n545 22 дні тому +1

      @@lindap.p.1337 sounds like you purchased at a high point and are selling in a dip? If not, don't worry about it. Just wait. If so, sucks.

  • @fredburley9512
    @fredburley9512 19 днів тому +1

    Your garage looks so cool amidst all of this.

  • @panamerican0
    @panamerican0 22 дні тому +1

    Just as I was searching for an update online on the used car market you post a video, awesome!
    Interestingly enough hybrids remain above the rest, especially Toyotas and Lexus.

  • @danielknepper6884
    @danielknepper6884 22 дні тому +8

    All of the young people think that that was the new Norm, no it was the unicorn years and it was the same thing with housing during the same time

    • @nicholaswhitfield9341
      @nicholaswhitfield9341 22 дні тому +4

      If only housing was the same. Car production is back where it needs to be. Housing production has been massively below what's needed ever since the recession. The deficit of housing starts in the US is huge.

    • @mitchhedberg4415
      @mitchhedberg4415 20 днів тому

      @@nicholaswhitfield9341
      Here is the thing though. My dad bought a home right out of college as an engineer. Now that home is $800k, you would need 3-4 or maybe more new grads to afford that.
      Sooner or later nobody will be able to afford the prices.

  • @N2YTA
    @N2YTA 22 дні тому +5

    I've been the car business for a very long time, and I can tell you that everything Doug said is absolutely correct.

    • @Lorentz_Driver
      @Lorentz_Driver 19 днів тому +2

      Nah prices still suck

    • @N2YTA
      @N2YTA 19 днів тому

      @@Lorentz_Driver You’re correct, new car prices are very high, especially leases. I think that auto manufactures are re-setting how they do business. For a long time, they produced as many vehicles as they could, then did whatever they had to, to sell them (deep discounts, rebates, lease and finance deals) but now they’re only producing as many as they know they can sell. Lots of people who had been able to lease a new car every three years, now can’t.

  • @woodrowbunopaddle
    @woodrowbunopaddle 22 дні тому +2

    I've brokered leases for 30 years. Before 2021-2022 lease equity only happened about 1 in 100 deals. In 2021-2023 70% of vehicles had lease equity

  • @cse217
    @cse217 21 день тому +1

    I appreciate your information thank you

  • @RenlangRen
    @RenlangRen 17 днів тому +3

    The corporations got greedy but caught in a situation where most people don’t have money anymore.

  • @glennmorris6071
    @glennmorris6071 22 дні тому +13

    So Doug piled up a bunch of money from C & B while prices were going up, and he’s now preparing to go on a buying spree now prices are lower.

    • @Morimea
      @Morimea 21 день тому

      This youtuber just saying from "capitalism-speculation-self-interest" point of view.
      Who care that current economy collapsing due to "overproduction".
      Who care that consumer have no money to pay for new car $10k-$20k.
      Who care that you can get 2-5yo car for $500-$1000.
      "Reseller" just adapting to current market, and what market or economy doing, reasons of it happening - they dont care.

  • @fwd79
    @fwd79 22 дні тому +2

    Economics 101 - free course right here, cheers Doug 👍👍

  • @havenwisner6776
    @havenwisner6776 16 днів тому +2

    Just bought a used Nissan Frontier 2016, 72k miles for pretty cheap, to me seemed like they had no idea they could charge way more but I'll just hope the market is going down

  • @KILLERONROAD
    @KILLERONROAD 22 дні тому +6

    Man I just want something that gets me to work. Hell if my job was on the bus line I would hardly ever drive. Cars are a fun hobby but mother of god everything is so overpriced (cars are improving but everything else is still getting worse), I will give up driving entirely if I'm able to just so I can keep a roof over my head. But all the better paying jobs are outside of town and nobody wants to pay a proper living wage, no matter how many degrees or certifications you have, no matter what experience you have, no matter what industry you work in. Everyone pays like crap and constantly overcharges in this "booming economy" because corporate overlords are greedy, and this stops us from buying fun cars and having a comfortable living. It isn't just a me problem, it's everywhere.

    • @mitchhedberg4415
      @mitchhedberg4415 20 днів тому

      Wait until AI takes far more jobs. Like many of the high paying coding jobs, or finance and accounting jobs.. The McMansion market will collapse.

    • @My_Old_YT_Account
      @My_Old_YT_Account 19 днів тому

      Importing the entire third world to Europe and America probably isn't helping either

  • @jamesalley7387
    @jamesalley7387 22 дні тому +8

    “Hundreds of years” 😂

  • @garyb2392
    @garyb2392 15 днів тому +1

    Love the rational and realistic POV ! TY

  • @JPLOgunquit
    @JPLOgunquit 21 день тому +1

    Well said!!! 👏👏

  • @somenygaard
    @somenygaard 22 дні тому +7

    Doug viewers are the type of guys to make unfunny “type of guy jokes” nonstop.

  • @robisacomedian572
    @robisacomedian572 21 день тому +4

    USA= United States of Amnesia

  • @_lewtz
    @_lewtz 7 днів тому +1

    cars have always been a HUGE depreciation asset. Only a small percent of cars historically went up in value, and normally only when they were old, rare, and classic.

  • @pduffy83usa
    @pduffy83usa 21 день тому +1

    Well said Doug!

  • @Raven16691
    @Raven16691 22 дні тому +5

    Basically Doug saying people are idiots lmao

  • @ottodob
    @ottodob 22 дні тому +3

    'this is how it has been for hundreds of years'....i sold my 1428 ford f250 for a profit, doug

    • @ferrari250lm
      @ferrari250lm 22 дні тому +1

      That's only because Christopher Columbus used to own it.

  • @RyanGalt
    @RyanGalt 22 дні тому

    Kudos on your clever thumbnail - huge success 🎉

  • @TwinkieLORD-33
    @TwinkieLORD-33 22 дні тому +10

    First the car market crashes then the housing market follows

    • @Harumph538
      @Harumph538 22 дні тому +4

      So long as unemployment is low, and the vast majority of mortgage holders are sub 4%, there’s no housing crash coming.

    • @steveguillory7568
      @steveguillory7568 22 дні тому

      Two totally different things. Supply of cars is back to normal. Housing supply is way down at a time when many people are hitting home buying years.

    • @mitchhedberg4415
      @mitchhedberg4415 20 днів тому

      @@Harumph538
      When people go underwater, they will walk away from homes.

    • @Harumph538
      @Harumph538 20 днів тому

      @@mitchhedberg4415so long as they’re employed, and paying a mortgage that’s significantly lower than renting, they’ll stay.
      Also anyone who bought in the last few years with low rates has paid down enough that they’ll remain above water indefinitely.

  • @clarkcant
    @clarkcant 22 дні тому +9

    I'm dumbfounded. Sitting here in Canada (Québec) and not understanding what "crash" You're talking about. Sure, prices aren't as high as they were a year and a half ago, but they are not pre-pandemic whatsoever. Used cars are still very expensive, despite the added interest payments you're going to be making now If you finance.

    • @tboneforreal
      @tboneforreal 22 дні тому +1

      That's his point. It's not crashing, but it is correcting. The crash will come when an eventual recession hits, the job lost that follows, and people have to give up the cars they can no longer afford.

    • @jagpilotohio
      @jagpilotohio 21 день тому +1

      If you’ve been paying close attention the prices of used cars has dropped dramatically in the past year. 30-40% in some cases.

    • @ritchierichh
      @ritchierichh 21 день тому +1

      Canada is an exception. We're currently seeing record immigration levels that are keeping demand up in every sector. I'm seeing 2004-2007 corollas with 250k km selling for 5-8k still.

    • @My_Old_YT_Account
      @My_Old_YT_Account 19 днів тому

      REAL
      I'm also from Québec, the car market is fucked here

  • @garythecyclingnerd6219
    @garythecyclingnerd6219 22 дні тому +2

    I am vaguely reminded of the r/WSB saying “The market can stay irrational longer than you can stay solvent”

  • @bobbyhennessy1017
    @bobbyhennessy1017 16 днів тому +1

    Not sure yet Doug, some guy is selling a 2005 Sprinter 2500 (Low roof) that has been converted into a "camper" for $65k, referring to it as "vintage"

  • @tradingmedic
    @tradingmedic 20 днів тому +4

    "The way it's been for hundreds of years". Looking to buy an 1835 Ford.

  • @ki5168
    @ki5168 22 дні тому +4

    Doug used to do videos in the well-light outdoors with good audio. Nowadays it's from a dark, dingy and echoey cave.

  • @douglaspouliot637
    @douglaspouliot637 19 днів тому

    Unbelievable thumbnail, great work

  • @phileas007
    @phileas007 22 дні тому +2

    That thumbnail though.
    10/10

  • @ibelle42
    @ibelle42 22 дні тому +4

    "will quirk for features" is perfection.