Wife and I went into the dealership earlier this year looking to upgrade to an SUV or crossover. We have excellent credit and both make decent money. $49k 23' Used Highlander and they wanted $850/month for it at 7.25%. Yeah we'll just keep driving our fully paid off sedans until this country unfucks itself.
It is not just the USA, you will flip if you see how things work in other countries. However, it us about to get much much worse under the incoming clown show.
I sold Nissans for three years. I finally sold the over-300-days-on-lot Nissan Armada. The customer signed all the papers, but when he went to drive off, the battery was dead. The customer was pissed and made us tear up the deal. The GM was furious. The truck sat unsold for another 100 days.
@@pogmothoin7164 That battery being dead is probably because vehicles sitting way too long. Im sure theres a alot of that Now when seeing so many on those lot’s sitting. They dont shift their vehicles around now lets models sit sit and sit. Especially in the cold its worse.
I saw on Autotrader here in Canada a few days ago a 2016 Hyandi Accent ..14K .. for 16 K ... that's Canadian dollars ... and it would last the average family to get to work /groceries etc. but I'm 75 so probably out of touch with reality ... This world WE are ALL struggling ... now
look at that jeep $96961, $500 down and 1560/mo +399 doc fee you end up paying 131939. $34978 just in interest 7 years. Immagine if everyone just took $34978 and bought what they could for cash.. a nice rav4, used 4runner, used pickup etc. what a total friggin rip. It's like boneheads just can't see past the pretty jeep to do the math on what it costs them. not to mention what are you not doing while making that insane monthly payment (ie: investing). $1560 starting with that $500 down invested at 6% gives you $163115. would you rather have that or a $20,000 used broken down jeep?
I dont think they will be crushed at all. In 10 years all of these cars will have been sold at auction and be worth a fraction of what they are. The present is bleak but I see the future being full of cheap low quality cars that you can beat up. Those grand wagoneers will be worth like $20k in the future. Those F-150s and Dodge Rams will be worth like $10,000 to $15,000. Were basically in the 70s again where all the cars are too luxurious and nobody wants them and it will be like the late 80s or early 90s in 10 years when you can buy some of these cars used for a couple grand or less. Its high supply and low demand along with low quality. Plus expensive gas, just like the 70s. Save your money now and the Shelby F150 or the Dodge Ram 2500 or even the GMC Denali will be affordable in a decade. I predict the cars actually getting smaller and more affordable by then too which will bring the price of these new-malaise era cars down significantly. If the price increases and quality control issues keep going on its bound to happen. Ford, GM, Stellantis and Toyota will look at their failure of luxury products and focus on more affordable vehicles. Thats exactly what happened in the late 70s during the oil crisis.
They won’t be crushed. They’ll be leased-out at insanely low prices by running the numbers with artificially high residual values. What that means is that as usual the taxpayer pays. Here’s how: 1) Excess inventory builds-up (particularly EVs), devaluing every day, and costing money to hold 2) OEMs assign unrealistic residual values, allowing super-low lead rates. $100k vehicles are leased-out at
Years ago we bought a Sequoia that was sitting on the lot for around a year. We talked to the young salesman who was very forthcoming with information. He mentioned the dealership was contemplating just taking it to car max to get what they could for it. Also the dealership wasn’t going to get any new ones until they could get it sold. We got over 12k under the msrp.
Part of the reason new vehicles cost stupid prices is ALL THE DATA COLLECTING TECHNOLOGY that is on the vehicles for the manufacturers to continue to make money off of you, but YOU have to pay for all that technology. No truck is worth $100 grand. Pick-ups should be starting at $25,000 without all the bells and whistles, and coffee maker, and well drilling attachment, and satellite tracking software. People just want A TRUCK.
@@Bob-pq6qv - My wife has a 1966 Mustang with a 331 stroker I built for it, and I have an Australian Ford XA/XB Falcon that I am building into a Mad Max Interceptor. We have those bases covered. ;)
The goal is to drain the middle class through high car payments, high housing costs, insurance and bills. Buy used quality vehicles.. I’m done paying for vehicles over 30k, that’s my cut off price..
Never going to happen. The STARTING point is permanently fixed at a despicable $35-37K. I have nooooo interest even though there are light pickups with $5k markdowns. F them. They can let it rot for all I care. I want another $2K off before I even show any interest. And Ford? LMAO, get lost. They wanted to be a "premium luxury" brand. Well, they can sit on their $90K pickups. Even their "affordable" Mavericks are marked up $4-5k!
Lower than that,your Rubicon back in 2006 was around $35,000. We purchased our 2006 2-door X for $21,000. Purchased off Quadratec bigger tires,side bars,grill guard,tail guard for under $1,500. We still have it with 46,000 miles, the only thing wrong with it,has little rust spot showing on the top left fender. Regular maintenance,oil change etc and it's still better than these new $68,000 all electronic dash Wranglers today.
So the new car dealers are losing their asses to the banks instead of their customers losing their asses to the banks. That's good. The whole auto industry needs a make-over. You should buy your car from the factory and they build it only when they have a firm order for it.
That's exactly how it works in England. Car showrooms are just a sales room for the manufacturers - you spec out your vehicle, they manufacture it, and 4-8 weeks later they deliver it.
When we were stationed in Germany, we spent a year ordering and waiting for our Volvo, then took a ferry to Sweden to pick it up. When it was presented to us, still in the factory, it had 2 miles on it! Loved that car!! Heartbroken that Volvo was sold to a Chinese company later.
I special ordered a new Ford Ranger in 1993. XLT extended cab, 4x4, 4.0L, manual transmission, manual transfer case, manual hubs. No A/C no power windows. $15,800. Still have it 31 years later. Just rebuilt the engine myself last year. I live in MT where they don’t salt the roads. Has had permanent registration for over 20 years. So sad you can’t buy a manual truck anymore. Millennials and Gen Z can’t figure out how to drive it.
I bought my 95 Ranger for $2K, that thing refused to die with close to half a million miles on the clock, I would be surprised if that $70K Ranger makes it alive to it's first tyre change 😂
Paying $100k for a Jeep is like setting 20 grand on fire in depreciation the first year. It will depreciate much faster than you can pay it off and pay a ton of interest on a big loan along the way.
They are making them too complicated and when all that electronic crap fails (and it will) it is a huge money pit because the car won't run without it.
@@NevanRead and I bet they just sit for quite a good time without anybody ever turning on those vehicles, not knowing when those batteries are about to die. Sounds like a place to stay away from
Old days: this cars been sitting for 100 days! 0 percent, 72 months, 20% off! Today: this cars been on the lot for 2 years, offer 5% for 3 years, or 5% off. Not both though.
@@terry94131 @Zzus321 i work at a dealership and they move lots around so frequently to try and place a car thats been sitting for days in a "better spot" lot rot basically doesnt exist. also with modern cars we get lists of cars that batteries have dropped below 12v meaning they still start and can run but the battery is lower than ideal, we always charge and drive those vehicles a little bit so its not like its parked and never moves for 500 days
Remember when they used to have the year end clearance sales? Haven’t heard that term for quite a while. The taxes must be killing these dealerships. No wonder my Dodge dealer charges $225 an hour labor.
I rented one recently for a 1500 mile round trip. This thing was NICE. Great gas milage, great power for a small twin turbo 6 cylinder, etc. Brought it back and told the agent all about what a good vehicle it is. She told me " Well it is coming up for sale and you can purchase it directly from us". I of course said how much? When she said $84,999 for a suv with 37,000 miles I couldn't help but take a quick breath. While it was a nice vehicle, It certainly was not worth that in my opinion. That is the game folks.
@@lot2196 when all dealerships are getting everybody financed, that’s the definition of broke people. Especially when it comes to leasing. So yes, more people are broke, and they do make payments longer than a decade now than ever before. Let’s not try to sugarcoat
6:02 they want $74,000 for a RAM chasis cab. 5 years ago a RAM chassis cab was $35,000. Actually, you can buy a used 2019 RAM chassis cab with a flat bed for $20,000. I just saw one for sale.
Paying off a car for 7 years should be considered excessive. If you can't pay it off in 3 or at most 4 years, it likely means the car is beyond your budget.
@@SV-lw8jo what’s stupid is people are actually making a decade of payment plans for some of these vehicles stupidity is at an all-time high in this country
The ones that still have a “new” ‘23 on the lot are the ones that were doing crazy mark ups for 2yrs. They deserve every bit of not selling those units.
A $150,000 pick up truck. One has to be out of their minds. I'll just suffer with my 911 which cost less. The auto manufacturers are building the wrong type of vehicles - PERIOD! People wonder why they are broke? It's because they buy this type of truck. Fools.
Me personally wouldn’t mind buying an old new car that’s been sitting around for two or three years unsold however it would have to be kept indoors, not sitting outside because of the weather if you sit outside in the sun for two many days it ages your skin
Why are they surprised they are not selling. They cost just as much as a BMW and Mercedes-Benz. Both of those still sell well for the most part. GM, Ford, Jeep seem to have forgotten the people who buy their vehicles are not the super wealthy.
Screw these dealers. I bought my Tacoma from Penske which was about an hour away from me. All my local dealers wanted 5-15k mark ups around 07-22 through 10-22. I actually bought mine for 500 off msrp. And I’ll tell ya one thing I tell everyone to go there if you want a toyota. I’ll NEVER buy a vehicle from any other manufacturers. I have a buddy with ford and he got me friends and family. But, dealers told me you have to order to get that discount. And my buddy said absolutely not. So it’s nice to see those greedy bastards lose their asses.
When car of truck sits for too long, what happens is, that the enternal parts of the motor and transmission, do not get lubricated. The tires also start to get flat spots and the tire will start to crack and rot. Even if these cars and trucks prices was cut in half, they are still over priced. The half price should cut in half, then it be worth buying them.
Dealerships should legally make $0 profit on sales. And instead encourage accessories,wheel packages, in house service, and service plans, which turn profit.
Because it's too expensive dealer didn't let me drive 2024 Jeep Wrangler Unlimited Rubicon 392, MSRP: $102,785 (discount $5,430). By the way I'll take a 2023 Aston Martin for $97,355.
Even 40,000 is not worth it...sure it's cheaper them 114,000, but I remember when I could get a vehicle for 12,000.. Even used vehicles are going for 40,000 🤣🤦🏽♂️
I was lucky enough to get my GMC AT4 RIGHT BEFORE THE COVID SPIKE AND I ENDED UP PAYING 54k FOR A BRAND NEW 2019 but 54k is still a lot of money. I knew some people that bought a 2021 same as my truck for almost 85k after COVID. That’s when dealership started getting real greedy.
I used to work at a dodge dealer and we actually had an agreement with another dodge dealer a couple hundred miles away where when vehicles just couldn't move they would buy a few vehicles from each other every month and reset their floor plan time.
Had a buddy buy a dually that had a camper topper on the rear. It sat on the lot for 18 months. They had the typical price for a new 2500 diesel dually, then additional price for a fancy topper that was set up to be used as a hunting/fishing camper. Was a one off type truck. Well he got the truck out the door $15k under the sticker for just the truck not including the cost of the camper topper.
A few years ago I tried shopping to local dealers a three year old truck with 5600 miles at an extremely low price , without success . One lott I drove into that had the same style , year , and equipped truck with over a hundred thousand miles wanted 10k more and the business owner upon hearing my asking price turned around and went back inside and shut the door . Now when I'm shopping I low-ball the crap out of'em .
In October of 2009 I bought a new 2007 Volvo S80 V8 with a msrp of $55,550 for $33,975. It was trouble free for 10 years and 186k miles until my mom totaled it. Great car and no problem with "Lot Rot", best car i ever had.
@6:03 $74,000 for a chassis cab truck that you cannot do anything with until you spend tens of thousands of dollars more at an up fitter to make the truck into something useful. I work at one of the "major auto manufacturers" and when I see the prices of a truck nobody can do anything with until THEY finish making the truck into something........I have to wonder why so many suckers pay that amount.
Its actually insane to pay $74,000 for an unfinished truck. You can buy a used 2018 - 2020 chassis cab here in Texas for $20,000 WITH A FLAT BED INSTALLED, which is cheaper than a base model F-150 There is no way in hell a tradesman, farmer or construction company is spending hundreds of thousands on fleets of chassis cab RAMs. I would just buy a used one at that point. The new one probably doesnt even have a V8. 🤦
@@nitroxylictv - I don't work at Chrysler, but at the company I work at, yes, companies are buying 1, several, or fleets of serious duty chassis cabs for $50,000 and up. They get made into tow trucks, ambulances, utility trucks, dump trucks, welding trucks, and many more things.
The Shelby F-150 is bad ass but its also cheaply made and has too many recalls which is a shame. Edit: 6:02 Ok, $73,000 for a Dodge commercial pickup chasis cab?????? How the hell are companies supposed to afford work trucks now? How are farmers going to afford that?
You have to watch these cars that are old. Critters tend to get in them. A friend told me about a few Odysseys that sat in the corner of a lot that got an ant infestation...ants everywhere in the car!!! LMAO
If the car has been sitting there rotting away, why the hell do they not pull off the addendum sticker. Most of the crap on the car making it cost more can be removed to get it out the door. They can sell the crap to someone else who buys it in the F&I office. It's not 2021 anymore. I think good change in the industry is in the horizon with Trump coming aboard.
Dealers are somewhat forced to take these vehicles… the issue is they have no room left. Manufacturers, instead of offering rebates to customers, I believe that manufacturers are offering cash to dealers to cover the floor plan… That way they can keep prices high.
They discount them all they want but $50k at 6.8% is still ridiculous for a depreciating asset that has quality and reliability issues. Not to mention the insurance.
I remember back in 1973, I brought a fire sale on new vehicle at discount price. I also brought Volvo 266 GLE that list for 26k in Canada for 1.6k in 1985 the car was 2 years old but new with 0 kilometers.
My demo had only a few thousand miles and i got about 10k off sticker. Made a 36k car affordable for me. That was in 2006 though. I still have the car and it's still in good shape. I won
Yet dealerships here in Vegas are still asking for MSRP for 24's and asking 15k dealer markup for a Raptor Ranger. Along with the Raptor Ranger they told me "go find me another one".
The day I feel sorry for a car dealer is the day I feel sorry for a banker.
Oh the banks own the dealer you say. shocked.
The banks literally own the car dealers they have car dealers walking with leashes banks are the real big dogs
@@user-tu1ee6dc5foff course man these all dealers are borrowing money from banks
who the hell is buying a 90k jeep? get your brain checked
check out Untamed Motors LOL
lmao
Exactly, it's insane.NO ONE should buy them.
As a kid, these were the cheapest around. Same with pick up trucks. That was the point to them
Then when you drive it off the lot it loses 20 grand
Wife and I went into the dealership earlier this year looking to upgrade to an SUV or crossover. We have excellent credit and both make decent money. $49k 23' Used Highlander and they wanted $850/month for it at 7.25%. Yeah we'll just keep driving our fully paid off sedans until this country unfucks itself.
Haha
Idk that doesn't sound that bad. A year old Toyota for under 50k?
It is not just the USA, you will flip if you see how things work in other countries.
However, it us about to get much much worse under the incoming clown show.
Learn to buy used . Dealerships are for suckers
Well, your first problem is walking into a Toyota dealership. The vehicle isn’t worth even $29k
I’m soooo happy these dealerships are getting their come-uppins now. It couldn’t happen to a nicer group of folks.
😂 😂 $100k for a wrangler oh please! So it can break down and get towed.
I saw a wagoneer die after 40 miles.
Yep that same one was towed a second time. I saw the video too
@ 🤣 sorry to that owner but that is funny
So glad I never bought one
@@SecretAsian84 I don't feel sorry, they got what was coming for them
i know who the hell buys that crap!
I sold Nissans for three years. I finally sold the over-300-days-on-lot Nissan Armada. The customer signed all the papers, but when he went to drive off, the battery was dead. The customer was pissed and made us tear up the deal. The GM was furious. The truck sat unsold for another 100 days.
Wow
Many of these cars suffer from lot rot. Stay away even if the deal seems good.
The dealership should have replaced the battery free of charge. That was the dealership’s bad.
@@pogmothoin7164 That battery being dead is probably because vehicles sitting way too long. Im sure theres a alot of that Now when seeing so many on those lot’s sitting. They dont shift their vehicles around now lets models sit sit and sit. Especially in the cold its worse.
Arent you supposed to check for that?
Older cars are actually better quality than new.
Prepare for another round of cash for “clunkers” they are going to be looking to rid peoples nice older stuff
I got 1 2012 and a 2013 for wife im keepin them cheaper to fix than 80k for new!!
I saw on Autotrader here in Canada a few days ago a 2016 Hyandi Accent ..14K .. for 16 K ... that's Canadian dollars ... and it would last the average family to get to work /groceries etc. but I'm 75 so probably out of touch with reality ... This world WE are ALL struggling ... now
I drive a 2001 Dodge Cummins PU 4 wheel drive 5-speed, I paid 23k for it. It is super reliable and I wouldn't trade it for a brand new Pu.
I bought a new 2023 4Runner. Designed back in 2009
500 down at 84 months for 1475 a month is criminal. That's around like 30k profit for the dealership.
wtf are u talking about 😭 the bank makes the interest not the dealer
look at that jeep $96961, $500 down and 1560/mo +399 doc fee you end up paying 131939. $34978 just in interest 7 years. Immagine if everyone just took $34978 and bought what they could for cash.. a nice rav4, used 4runner, used pickup etc. what a total friggin rip. It's like boneheads just can't see past the pretty jeep to do the math on what it costs them. not to mention what are you not doing while making that insane monthly payment (ie: investing). $1560 starting with that $500 down invested at 6% gives you $163115. would you rather have that or a $20,000 used broken down jeep?
@ no doubt, screw the jeep lol. I’m just pointing out that the interest is paid to the bank and not the dealer
@@bigdawg7603 your point is legit.
Invest same in index fund instead
They will crush unsold inventory before lowering prices by any significant amount. If they give big discounts once, they can never go back to gouging.
Just a big scam.
How can they crush them if they owe banks money for them? Unless they paid them off of course.
True. These cars will never be sold for what they are actually worth.
I dont think they will be crushed at all. In 10 years all of these cars will have been sold at auction and be worth a fraction of what they are. The present is bleak but I see the future being full of cheap low quality cars that you can beat up.
Those grand wagoneers will be worth like $20k in the future. Those F-150s and Dodge Rams will be worth like $10,000 to $15,000.
Were basically in the 70s again where all the cars are too luxurious and nobody wants them and it will be like the late 80s or early 90s in 10 years when you can buy some of these cars used for a couple grand or less. Its high supply and low demand along with low quality. Plus expensive gas, just like the 70s.
Save your money now and the Shelby F150 or the Dodge Ram 2500 or even the GMC Denali will be affordable in a decade.
I predict the cars actually getting smaller and more affordable by then too which will bring the price of these new-malaise era cars down significantly.
If the price increases and quality control issues keep going on its bound to happen. Ford, GM, Stellantis and Toyota will look at their failure of luxury products and focus on more affordable vehicles. Thats exactly what happened in the late 70s during the oil crisis.
They won’t be crushed. They’ll be leased-out at insanely low prices by running the numbers with artificially high residual values. What that means is that as usual the taxpayer pays. Here’s how:
1) Excess inventory builds-up (particularly EVs), devaluing every day, and costing money to hold
2) OEMs assign unrealistic residual values, allowing super-low lead rates. $100k vehicles are leased-out at
Its Dealership Greed, they got it coming to them
You got that right.
Pray for severe hail storms?
HA!
Nope. We do want the vehicles to look nice with the reduced price. 😂
The problem too is they have tied themselves to the higher trims and eliminating the lower more affordable trims.
Years ago we bought a Sequoia that was sitting on the lot for around a year. We talked to the young salesman who was very forthcoming with information. He mentioned the dealership was contemplating just taking it to car max to get what they could for it. Also the dealership wasn’t going to get any new ones until they could get it sold. We got over 12k under the msrp.
Part of the reason new vehicles cost stupid prices is ALL THE DATA COLLECTING TECHNOLOGY that is on the vehicles for the manufacturers to continue to make money off of you, but YOU have to pay for all that technology. No truck is worth $100 grand. Pick-ups should be starting at $25,000 without all the bells and whistles, and coffee maker, and well drilling attachment, and satellite tracking software. People just want A TRUCK.
Get a classic they never lose value
@@Bob-pq6qv - My wife has a 1966 Mustang with a 331 stroker I built for it, and I have an Australian Ford XA/XB Falcon that I am building into a Mad Max Interceptor. We have those bases covered. ;)
Yeah man, just a simple truck without stoopid gadgets. Just a radio and aircon is all i need.
these 300-400-500 day vehicles, anyone think the dealer has changed the oil every 182 days like they would expect you to for warranty work??
The goal is to drain the middle class through high car payments, high housing costs, insurance and bills. Buy used quality vehicles.. I’m done paying for vehicles over 30k, that’s my cut off price..
Never going to happen. The STARTING point is permanently fixed at a despicable $35-37K. I have nooooo interest even though there are light pickups with $5k markdowns. F them. They can let it rot for all I care. I want another $2K off before I even show any interest. And Ford? LMAO, get lost. They wanted to be a "premium luxury" brand. Well, they can sit on their $90K pickups. Even their "affordable" Mavericks are marked up $4-5k!
100k for a Wrangler is the most unhinged thing I've ever seen, when they came out they came out they were like 30k.
Lower than that,your Rubicon back in 2006 was around $35,000.
We purchased our 2006 2-door X for $21,000.
Purchased off Quadratec bigger tires,side bars,grill guard,tail guard for under $1,500.
We still have it with 46,000 miles, the only thing wrong with it,has little rust spot showing on the top left fender.
Regular maintenance,oil change etc and it's still better than these new $68,000 all electronic dash Wranglers today.
They became hip.
@@NerdsWorldNYC even still, 35k for a Pentastar, aka the caravan motor, is still to much.
I bought a new wrangler for 15k in 99
1998 got a cherokee for 19k 4.0L
So the new car dealers are losing their asses to the banks instead of their customers losing their asses to the banks. That's good. The whole auto industry needs a make-over. You should buy your car from the factory and they build it only when they have a firm order for it.
That's exactly how it works in England. Car showrooms are just a sales room for the manufacturers - you spec out your vehicle, they manufacture it, and 4-8 weeks later they deliver it.
Dealer no losing bayer losing
When we were stationed in Germany, we spent a year ordering and waiting for our Volvo, then took a ferry to Sweden to pick it up. When it was presented to us, still in the factory, it had 2 miles on it! Loved that car!! Heartbroken that Volvo was sold to a Chinese company later.
These new cars ain't new no more 😂
A lot of greedy wealthy people who invested in Dealerships are about to become FORMERLY WEALTHY.
Wtf 43k for an Escape and 70k for. Ranger I’m speechless
I special ordered a new Ford Ranger in 1993. XLT extended cab, 4x4, 4.0L, manual transmission, manual transfer case, manual hubs. No A/C no power windows. $15,800. Still have it 31 years later. Just rebuilt the engine myself last year. I live in MT where they don’t salt the roads. Has had permanent registration for over 20 years. So sad you can’t buy a manual truck anymore. Millennials and Gen Z can’t figure out how to drive it.
I bought my 95 Ranger for $2K, that thing refused to die with close to half a million miles on the clock, I would be surprised if that $70K Ranger makes it alive to it's first tyre change 😂
Paying $100k for a Jeep is like setting 20 grand on fire in depreciation the first year. It will depreciate much faster than you can pay it off and pay a ton of interest on a big loan along the way.
Everything is overpriced but yet the quality & reliability is horrible.. Lose lose for the customer..
They are making them too complicated and when all that electronic crap fails (and it will) it is a huge money pit because the car won't run without it.
$100k for a Wrangler? LMMFAO, let it sit and rust as far as I'm concerned, LOL!
And Dodge is now going bankrupt. No way I'm touching their crap
Im quite happy with my grandpa 08 Buick Lacrosse car. It will outlive me and its comfortable.
These kind of videos brings joy to my heart.
We seem to be at a point where dealers & auto manufactures are being reminded that there are more poor people in the USA than rich people. 😉
73k for a tradesman work truck!! Only a cab on chassis. Nice that it's a Cummins but it should only be worth 30 to 35k.
Half a million $US dollars for a 2023 Aston Martin.......
That’s crazy , better off getting bmw m5 competition For 150K
They've doubled in price in 5 years too it seems like...
Why is that outside vs on the showroom floor lol
I work at a Porsche dealership and we have five new cars from 2023 sitting on the lot.
Plus plenty of 2024 models sitting on the lot as well.
But none of them are 911 or 718. Only the Panameria, Cayanne, Taycan, and Macan are sitting on the lot.
What's wrong with that?
@@yiga41712025 cars are coming in and they still have two year old models on the lot
@@NevanRead and I bet they just sit for quite a good time without anybody ever turning on those vehicles, not knowing when those batteries are about to die. Sounds like a place to stay away from
All these companies squeezing as much money out of people as possible that now no one has any left
Old days: this cars been sitting for 100 days! 0 percent, 72 months, 20% off!
Today: this cars been on the lot for 2 years, offer 5% for 3 years, or 5% off. Not both though.
I wouldn’t be so worried about ‘lot rot’ so much as I would be worried about depreciation. 💸
? Parking something for 700 days, Pass
@@Zzus321 I agree. A couple months is one thing, but two years?
@@terry94131 @Zzus321 i work at a dealership and they move lots around so frequently to try and place a car thats been sitting for days in a "better spot" lot rot basically doesnt exist. also with modern cars we get lists of cars that batteries have dropped below 12v meaning they still start and can run but the battery is lower than ideal, we always charge and drive those vehicles a little bit so its not like its parked and never moves for 500 days
Remember when they used to have the year end clearance sales? Haven’t heard that term for quite a while. The taxes must be killing these dealerships. No wonder my Dodge dealer charges $225 an hour labor.
$525K for a luxury car, you could buy a home with that kind of money 💰
those grand wagoneers look like a hearse
Yes, a hearse for your bank account.
I've only seen a couple on the road. Crazy anybody would pay so much for a stellantis sh1tbox
I rented one recently for a 1500 mile round trip. This thing was NICE. Great gas milage, great power for a small twin turbo 6 cylinder, etc. Brought it back and told the agent all about what a good vehicle it is. She told me " Well it is coming up for sale and you can purchase it directly from us". I of course said how much? When she said $84,999 for a suv with 37,000 miles I couldn't help but take a quick breath. While it was a nice vehicle, It certainly was not worth that in my opinion. That is the game folks.
Supercar brands jumping on suburban mom crossovers and EVs is brand suicide at its finest.
The white jeep 1,560 for 84m = 131k @1:32 who TF in their mind would pay that???
It’s like they don’t realize it’s a Jeep not a Maybach GLS600
How do these greedy bastards stay in business?
Not everyone is broke, and unfortunately, there are a lot of stupid people in this world.
@@lot2196lots!
@@lot2196 when all dealerships are getting everybody financed, that’s the definition of broke people. Especially when it comes to leasing. So yes, more people are broke, and they do make payments longer than a decade now than ever before. Let’s not try to sugarcoat
Government bailouts
Obama bailouts
How about just dropping the damn price on these bloated overpriced vehicles.
Nah that would be too easy
Greed and stupidity...what else can one say?
There is no such thing as the "working man's truck" anymore.
6:02 they want $74,000 for a RAM chasis cab. 5 years ago a RAM chassis cab was $35,000.
Actually, you can buy a used 2019 RAM chassis cab with a flat bed for $20,000. I just saw one for sale.
The car industry is a scam. I am in the market for a car I know what I want just sitting to strike. Great video !!!!
Pricing is insane. F the dealers
so in a nutshell, what happens to new cars that dont get sold?
Sold off to CarMax, straight up destroyed, or rarely dumped off at auction
They pushed as far as they can! 70k- 90k for a vehicle. Not including maintenance costs. These people are in the Emperor’s new clothes!!!
They should recycle them and turned them into soda cans
People need to look at how those Broncos engines are made made because there absolute garbage. Steer clear of the bronco no matter what trim it is.
Paying off a car for 7 years should be considered excessive. If you can't pay it off in 3 or at most 4 years, it likely means the car is beyond your budget.
@@SV-lw8jo what’s stupid is people are actually making a decade of payment plans for some of these vehicles stupidity is at an all-time high in this country
No one is forcing people to do that. Can’t fix stupid.
The ones that still have a “new” ‘23 on the lot are the ones that were doing crazy mark ups for 2yrs. They deserve every bit of not selling those units.
Seems like buying new is one of the worst financial decisions you can make these days.
why cant car rental companies buy the left over stock , when one rents a car most don't know the yr of the car
A $150,000 pick up truck. One has to be out of their minds. I'll just suffer with my 911 which cost less. The auto manufacturers are building the wrong type of vehicles - PERIOD! People wonder why they are broke? It's because they buy this type of truck. Fools.
Me personally wouldn’t mind buying an old new car that’s been sitting around for two or three years unsold however it would have to be kept indoors, not sitting outside because of the weather if you sit outside in the sun for two many days it ages your skin
Why are they surprised they are not selling. They cost just as much as a BMW and Mercedes-Benz. Both of those still sell well for the most part. GM, Ford, Jeep seem to have forgotten the people who buy their vehicles are not the super wealthy.
100k houses. 600k homes and 60k wage - haha
“Lot Rot” on expensive vehicles
Thank you for changing the topic that we're normally seeing on here lately.
Screw these dealers. I bought my Tacoma from Penske which was about an hour away from me. All my local dealers wanted 5-15k mark ups around 07-22 through 10-22. I actually bought mine for 500 off msrp. And I’ll tell ya one thing I tell everyone to go there if you want a toyota. I’ll NEVER buy a vehicle from any other manufacturers. I have a buddy with ford and he got me friends and family. But, dealers told me you have to order to get that discount. And my buddy said absolutely not. So it’s nice to see those greedy bastards lose their asses.
When car of truck sits for too long, what happens is, that the enternal parts of the motor and transmission, do not get lubricated. The tires also start to get flat spots and the tire will start to crack and rot. Even if these cars and trucks prices was cut in half, they are still over priced. The half price should cut in half, then it be worth buying them.
As always, excellent insight presentation. Thanks
Ill never forget my first new car... i fell in love at first sight. And my Challenger has been a gem of a daily driver for ten years.
Dealerships should legally make $0 profit on sales. And instead encourage accessories,wheel packages, in house service, and service plans, which turn profit.
I always thought they left em out back by the dumpster with the keys on the wipers.
Because it's too expensive dealer didn't let me drive 2024 Jeep Wrangler Unlimited Rubicon 392, MSRP: $102,785 (discount $5,430). By the way I'll take a 2023 Aston Martin for $97,355.
Even 40,000 is not worth it...sure it's cheaper them 114,000, but I remember when I could get a vehicle for 12,000.. Even used vehicles are going for 40,000 🤣🤦🏽♂️
I was lucky enough to get my GMC AT4 RIGHT BEFORE THE COVID SPIKE AND I ENDED UP PAYING 54k FOR A BRAND NEW 2019 but 54k is still a lot of money. I knew some people that bought a 2021 same as my truck for almost 85k after COVID. That’s when dealership started getting real greedy.
101,000 for a Jeep? That’s unbelievable!
Just like every politician wanting more money, my property and personal property taxes are crazy high. These high prices also means high taxes.
I used to work at a dodge dealer and we actually had an agreement with another dodge dealer a couple hundred miles away where when vehicles just couldn't move they would buy a few vehicles from each other every month and reset their floor plan time.
I would not even look at a new vehicle that hasn’t come down on prices back to 2019 prices , there greed will eat them up
Had a buddy buy a dually that had a camper topper on the rear. It sat on the lot for 18 months. They had the typical price for a new 2500 diesel dually, then additional price for a fancy topper that was set up to be used as a hunting/fishing camper. Was a one off type truck. Well he got the truck out the door $15k under the sticker for just the truck not including the cost of the camper topper.
A few years ago I tried shopping to local dealers a three year old truck with 5600 miles at an extremely low price , without success . One lott I drove into that had the same style , year , and equipped truck with over a hundred thousand miles wanted 10k more and the business owner upon hearing my asking price turned around and went back inside and shut the door . Now when I'm shopping I low-ball the crap out of'em .
No car should cost more than 30k.Ever.
If you think I'd buy a three year old "new" car and all you're going to do is discount it $5000, you're dreaming.
In October of 2009 I bought a new 2007 Volvo S80 V8 with a msrp of $55,550 for $33,975. It was trouble free for 10 years and 186k miles until my mom totaled it. Great car and no problem with "Lot Rot", best car i ever had.
@6:03 $74,000 for a chassis cab truck that you cannot do anything with until you spend tens of thousands of dollars more at an up fitter to make the truck into something useful. I work at one of the "major auto manufacturers" and when I see the prices of a truck nobody can do anything with until THEY finish making the truck into something........I have to wonder why so many suckers pay that amount.
Its actually insane to pay $74,000 for an unfinished truck. You can buy a used 2018 - 2020 chassis cab here in Texas for $20,000 WITH A FLAT BED INSTALLED, which is cheaper than a base model F-150
There is no way in hell a tradesman, farmer or construction company is spending hundreds of thousands on fleets of chassis cab RAMs.
I would just buy a used one at that point. The new one probably doesnt even have a V8. 🤦
@@nitroxylictv - I don't work at Chrysler, but at the company I work at, yes, companies are buying 1, several, or fleets of serious duty chassis cabs for $50,000 and up. They get made into tow trucks, ambulances, utility trucks, dump trucks, welding trucks, and many more things.
The only people that I feel sorry for are the factory workers who are or will be laid off due to car makers/dealers greedy tactics
The ridiculous demands of the auto workers unions are a big part of these prices.
Picked up a new 2015 Ram back in December 2015. The truck was made in Jan 2015 and I got a great deal due to how long they had it in the lot.
BS I have seen cars shit over a year and no moving on price
A 1988 Thunderbird Turbo Coupe sat on my local Ford dealers lot for 6 years. It finally sold in 1994 with 4 miles on it.
How detrimental is Ethanol gas sitting in those cars/trucks on the lot for those long periods of time? Or do Dealers use non-ethanol gas?
Back about 20 yrs ago the Lincoln dealer I worked for gave every employee a demo lol even lube techs
The Shelby F-150 is bad ass but its also cheaply made and has too many recalls which is a shame.
Edit:
6:02 Ok, $73,000 for a Dodge commercial pickup chasis cab?????? How the hell are companies supposed to afford work trucks now? How are farmers going to afford that?
You have to watch these cars that are old. Critters tend to get in them. A friend told me about a few Odysseys that sat in the corner of a lot that got an ant infestation...ants everywhere in the car!!! LMAO
If the car has been sitting there rotting away, why the hell do they not pull off the addendum sticker. Most of the crap on the car making it cost more can be removed to get it out the door. They can sell the crap to someone else who buys it in the F&I office. It's not 2021 anymore. I think good change in the industry is in the horizon with Trump coming aboard.
Dealers are somewhat forced to take these vehicles… the issue is they have no room left. Manufacturers, instead of offering rebates to customers, I believe that manufacturers are offering cash to dealers to cover the floor plan… That way they can keep prices high.
Guess I'll never want a car that bad, to drive out of state just to get it
They discount them all they want but $50k at 6.8% is still ridiculous for a depreciating asset that has quality and reliability issues. Not to mention the insurance.
I been seeing that myself since 2023. Many vehicles have been inside their showroom for more than 500 days and some of them won't start right away.
2-500k Diabolical
I remember back in 1973, I brought a fire sale on new vehicle at discount price. I also brought Volvo 266 GLE that list for 26k in Canada for 1.6k in 1985 the car was 2 years old but new with 0 kilometers.
My house was 140K 20 years ago ..... and how most folks can afford these is beyond me but I'm an old man of 75 so probably out of touch ....
My demo had only a few thousand miles and i got about 10k off sticker. Made a 36k car affordable for me. That was in 2006 though. I still have the car and it's still in good shape. I won
I actually gasped when I saw the 100k price on that white Jeep.
Buy a restored classic and use it as a daily driver. Might as well. At least you'll get a good car, one that's repairable and proven reliable.
That’s 4 years of Bidenomics!
These numbers are crazy !!!!!!
3:16 I used to work at that dealership It was Matthews Ford now its Jim notion Ford I believe.
Yet dealerships here in Vegas are still asking for MSRP for 24's and asking 15k dealer markup for a Raptor Ranger. Along with the Raptor Ranger they told me "go find me another one".