35% . Too many people shop cars by monthly payments instead of purchase price ! Dealers using 72 months & up financing to get the monthly payments down.
The issue isn’t just the prices, people are literally living off credit, getting laid off, and having their credit tank, and banks aren’t financing people without putting down $7k-15k
The effect is directly and indirectly. It is, yes, a matter of these manufacturers pushing the limits of their greed to see how far their customer market will go. Pricing for vehicles is the same as the housing market, gold, silver, etc... Everything is about 40% overpriced. It is not just a factor of the car price deduction. Interest has to come down as well. After all that being said. Wages/inflation charts indicate that the average worker is basically bringing home half of what they were making four years ago. So put aside the matter of the overall price of the vehicle. Consumers simply just can not afford to add the car payment to their budgets currently. It's as simple as that. Even if they lower cars 50%. There will not be a divine line of consumers to gobble up all the inventory. Most can not even afford to come up with another $200 expense per month, which in most cases a new car will set you back $700 a month. Then add insurance on top of that... Not going to work out...
My son went to a local Honda dealer in Orlando to shop for a Civic Sport with 6-speed manual. MSRP was $29k, dealer equipment added another $6k. He walked out the door and never returned. So proud of him!!
Had the same thing happen to me here in NC. Looked at a 2017 v6 Camaro manual with 14k miles at $27k. Dealer wanted to add $5k for add ons. We walked to say the least. Then got a newer one with a bit lower trim but better overall, for less!
Isn't it hard to believe that a car that costs 85 thousand dollars in your country costs 630 thousand dollars in Turkey, that the minimum wage is 500 civil servants, their salaries start from 1500 dollars, and house rents start from 250 dollars, but this is exactly what
New car prices have gone up 60% over the last ten years. How much has your income increased in that time? How much has inflation eaten into your income in just the last four years? Car prices need to come down 50% for a regular person to actually be able to afford one. $115k for a damn Jeep? GTFO.
Car prices going up has nothing to do with inflation. People were dumb enough to pay over MSRP during the 2021 chip shortage and dealers got greedy. Stop blaming inflation when it's been below 3% for the past 18 months
I was in the market for a new vehicle when I commented that the prices on vehicles were getting higher every year. The sales person told me “don’t you realize that everything goes up every year”. My wife quickly responded, “not so with salaries”. She then asked the salesman if he had received a raise in the previous years. We heard crickets. I have come to the realization that I don’t need a new vehicle. The greed by the Auto manufacturers has completely driven me away from purchasing a new vehicle again. When prices go high, I go low. As an example, When they raised the prices at restaurants, I just went less often or cooked at home trying different recipes. I’m not alone and it appears that automobile manufacturers just don’t get it.
I have this little mexican drive-thru near me and like everywhere else, the prices are going sky high and the portions smaller. Like the "super nachos" are about the half order of a place I used to go to before I moved after retirement last year. I got sick of paying $13.00 for the "super" nacho so I just got the order of chips, guacamole, and cheese and the wife just got the cheese quesadilla. It filled us up just fine and I got the whole order for less than the one order of "super" nachos I used to buy. Just takes a little creativity folks. Something I think the current generation needs to survive this thing called life, like the rest of us did.
@Quality_Guru only by the creativity and resourcefulness of us, not politicians. We need to go back to how it was. They almost begrudgingly served for awhile then ent back to their normal jobs. It wasn't to use it as a power grab cash cow proposition. And yes I'm talking about both parties.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@Carlos-1500 - get an advisor that specializes in middle class. Then dump your funds into a mutual fund. Bond heavy mutual funds will be big again soon
get yourself some S&P500, it's been my top performer since before COVID, even warren buffet said can't lose with it. But also invest in more than one spot, best idea is investing in company you use daily and will keep buying from, if you support it and think it's good and most definitely is
@@stavroslask1292 It is like the old soap opera Day of our Lives. You can not watch it for 15 years, tun in and nothing has changed but a little more grey hair :)
Half the blame is the lenders allowing it also. Stupid people couldn't buy without lenders loaning what they do. Only reason sales are as bad as they are is stricter loaning standards. Stupid is forever
Wait until the banks own their stupid loans. The only way they are sold is fantasy financing. Banks can enjoy driving all the repos. I would not pay over 30k for a new small truck. 4X4 Toyota's are the best.
Sometimes you don’t have a choice and you just gotta a buy. Companies buying fleet is clearly floating manufacturer boats right now though worth fully half of Fords business right now. So 🤷🏻♂️ gonna need a more crashy crash for real change to kick off IMHO.
People got used to and started to consider normal that pandemic pricing. And when the pandemic shortages went away, prices didn't come back down. Prices NEVER come back down, the dealers and manufacturers like those extra profits too much.
WERE foolish enough. The market is correcting itself and due to all the repos banks aren't just lending anyone money. It's the foolish millennials and gen x....when interest was 2% it was easy, same as houses, now it's 10% and people are getting destroyed. So many mortgages are being renegotiated now their terms are up and their house payments are doubling. I looked in one area of toronto and it had 900 units for sale in a 5 km sq area.
Will never go to a dealer again. I will continue to buy used from private parties, and fix my own stuff. The trick is researching the cars and brands that have horrible failure rates, and staying away from those. Car Wizard does a great job of helping people determine which cars, suv's, and trucks are worth getting. The true problem is, if these manufacturers don't fix their issue, the used market will inflate more and ruin EVERYTHING!
Our family has done it for years. We always keep three cars, but since we don't have car payments and save that money instead, we can jump on any good deals and pay cash. We know what to stay away from mechanically, and which ones are good years. If we find a better car, we buy it and then sell one we already have. Since we have three, if we need to work on any of them we can take our time. Just because we wanted a better engine for our Jeep LJ 2004, we bought a custom engine for cash and are putting it in right now. It saves you a ton of money if you can fix your own cars. Being in debt is slavery, so we avoid it. We don't even have credit card debt. In the last recession, used cars were more sought after and the junk yards were picked through more. It is the downside of a recession. In good years, it is easier to find good used cars, and to pull parts from the junkyards.
My gf and I had been aggressively saving for a few months and thank God we did, because my car went up a few months later. We got up extra early, carpooled to work, stayed positive and patient. A week ago I bought a 2004 Jaguar xj8 with 88,000 miles for under 4k off Craigslist. Fuel filter needed replacing, and now it rides like a cloud sporting a V8. So thankful and insanely comfortable 🙏😌
$40,000 for a Jeep Compass is ridiculous. It’s not even a case of ‘It’s too expensive and I can’t afford it.’ It’s more ‘It’s too expensive and I’m not paying that.’
Not to mention, it's a POS , if these cars were expensive and trouble-free for 200k miles ok. But most will need major work at 100k , timing chains cvt transmissions .
I am a farmer, I need a 3/4 ton truck. It is ridiculous that these trucks cost $70 grand, they were only $50grand 2-3 years ago and I though that was too high. I will just keep repairing what I have and leave the new ones alone until the manufacturer flops in their face for a few years and they become reasonable again. I have no sympathy for Ford, Chevy, or Dodge. They wanted this, let them grove for my business for a few more years and then I will consider a new truck. I the meantime, I can use my 1989 3/4 ton and completely restore it every year for a small fraction of the cost of a new truck.
I agree 100%. The manufacturers and dealers are only interested in the highest profit on each unit. They have abandoned their customers who need basic work trucks. waiting for BYD to come to the US
A lot of it is from inflation brought about by our politicians, Everyone knew what the minimum wage increase would do to our economy. Then the unions wanted a lot more. I am sure the corporations tacked on a bit to. Also foreign countries kind of got use over the barrel.
I really feel for farmers, just need a basic truck and it's not available, as much as I hate government intervention, they should force the major manufacturers to produce a basic heavy duty pick-up that is only sold to qualified farmers.
I'm in the ball park of never buying a new car. Prices are insane for these cars. The stuff they are putting in them now I don't need. I want winder windows. I don't need cameras all over my car to see around me. I don't need to have 2 different air temps on each side of my car. I don't need TV screen in front and back. I don't need heated seat. I don't need super bright headlights. I don't need blind spot checkers. Give me a car that will drive me from A-B , that has a Key a window I can wind down with a handle and a radio knob I can turn up. Thank You!
Don’t know where you folks live it’s happening in both the housing and car market. I’ve been trying to sell a 2016 Acura in excellent condition for 3 months and no offers at $15K. This car is loaded and is in excellent shape mechanically as well as esthetics, no dents or scratches. I worked at the corporate level in marketing as a sub-contractor for GM& Chrysler, I get the mentality, day late on trends.
@@sandtoy11510the prices have sort of dipped…. I mean not as drastically but still. Not to mention I feel like it’s fair to assume with wages not going up and inflation rising so much that the expectation is for some type of recession to lower everything
But they won't, because they all have been balled out by big government so they now owe said big government so they will keep making ev's cause that's what big government wants then to do so that's how that story goes. Reason why I drive a hyundai and a nissan, both under 30k when they were bought.
@@fjb425If the government wants to regulate unreasonably maybe they need to share the cost of these absurd standards, but if it were up to me i would drop these ridicules mpg standards, let the people buy what they want. By the way why do electric vehicles not have to give you any idea of what it costs to charge them, just wondering hum.
I paid 12k for a two year old Ranger, drove it for over 20 years. Great truck. Loved it. Broke my heart when the wrecker loaded it up. Started looking for a new truck and what I always come back to is why would I pay 3 to 4 times or more for a truck I like less than that Ranger. Worse still, all the trucks around here are designed to be curio cabinets full of electronic BS I dont need. My Ranger had 4-wheel drive, cruise control, and power windows. Thats it. That'll all I need.
Unless the body was rusting out of it, you should have just fixed the ranger. For what 1/2 ton truck prices are now, I could rebuild my ranger from the ground up 3 times over. Once my 4.0 quits, I will probably just pay to have it rebuilt, unless the block is destroyed.
@@MarcMercier1971 Houses are generally an asset, depending on where you live. When my significant other and I decided to consolidate households, she made almost a 50% profit on her house after only 5 years in the house. Cars are always a liability unless they’re collectible.
I'm a UAW member and working for Mary Bara, in this last contract we were given $1,500 off a new vehicle. I went truck shopping and found a new truck that MSRP at $64k, with $9,500 in rebates and $10k cash I was looking at a $700 (82 months) payment plus $100 a month insurance. To me $1,500 from Mary was 1970 money when buying a $64k truck. One more thing, I help build the Silverado at a rate of one a minute at the Fort Wayne Indiana plant. We could see a whole production shift cut very soon.
I have a 1988 Chevrolet Silverado. I could spend 2000 dollars a year fixing it, and it would take me 50 years to equal the cost of a new truck today. I'll just keep repairing my truck until I die, because that truck is going to outlive me.
Yup and a new engine in that truck will cost less than a computer or high-pressure fuel system. Not to mention the head gasket and timing chain in that 350 sbc will last the life of the vehicle.
Never in my lifetime have I been so happy as to have paid off all of my automobiles! All of them are in good running shape and under 200,000 miles so we are in no hurry.
Same here. I have three vehicles, a 2011 Mazda Miata with 172k miles that I bought new, a 2012 Toyota Camry with 102k miles that I bought new, and a 2016 Toyota Camry with 56k miles that I bought new. I am 68 my wife is 63 we do not see ourselves ever buying another new car. The 2016 Camry will most likely out live our driving abilities.
Same for me. Also, all these newer vehicles have all these electronic modules, that will fail and replacements will be no longer available in just a few years.
@@sharthun2009 Exactly, We have a 2016 Silverado with 150k km and a 2019 Jeep Cherokee with 56k km and both are paid in full. We lucked out and got 0% and below MSRP. We wont need another vehicle in at least 5 years. Hopefully by then, the vehicle market will have crashed post covid and prices will be down to pre covid prices.
You got that right. Even if you banked $500/mo for repairs (which you won’t actually spend) you’re still way money ahead with the taxes and fees lost every time you purchase a new vehicle. Heck, if in 5 years you need a motor or transmission and spend 5k on those each, your STILL money ahead and have a vehicle that’s probably just as reliable as a new one. I use our purchased new 19yo 250k mile ( garage kept ) truck for towing only and just got back from a 2600 mile trip dragging a 7500 lb trailer. For driving it less than 10k miles a year, it would be stupid to replace it. I would drive it to the snow covered mountains or the remote desert tomorrow without a single hesitation. Once it was paid off in 4 years, we continued to put the “payment” into an investment account. I could purchase 5 or 6 new trucks from that account. But if I get 30 years usage and 500k miles out of this one, I might consider it. 😂
If Ford, or any other manufacture, lowered the price of their $80,000 trucks 50%. many buyers would still be unable to afford them because the incomes in America just aren't supporting these prices.
@@bh7940 that largely depends on where you live . I'd still spend 100k on a crapbox fixing it up and re-selling it to flip than spend 100k on a vehicle with huge depreciation.
These automakers have lost their mind. Why would I pay a car payment that is equivalent to my mortgage? I’ll keep rolling along in my 2006 Civic until prices are reasonable.
@@DavidWiliams-r1g There's still homes for $60k and more people are working from home which means less people are forced to buy in the cities and suburbs where prices are being amped up by speculative investors.
Im in canada and was in the car industry for 25 years as a sales manager for gm and audi. The difference is the cost to full retail in the majority of vehicles is gone. Audi had more gross than GM on average vehicles. The days of dealership sales are numbered. People don't want to haggle anymore. If the car company's would price the vehicles to buy and cut out the middleman then prices would come down. The car industry is in for a huge change. China is gonna change it. Make dealerships delivery, inventory and service stations. And for your trade value the internet is already telling you what the current market value is.Let me know what you think. Thanks Clayton
The "cost" of new vehicles is only an indirect reason I don't want one. The problem is too much tech, which has to paid for. I don't want turbochargers, lane keep assist, blind spot monitoring, heated seats and steering wheel, large touchscreen, moonroof, etc. I want a good basic vehicle like my current 2006 Nissan Frontier, with a NA - V6, six speed manual gearbox and 4WD.
Exactly! Keep it simple, stupid…..less tech to break down. I’m still driving a bare bones car with roll up windows, 110,000 miles on the odometer. Fuck the ‘Stealerships’!
Woah settle down. You may be fine with a joyless automotive experience, but I ain’t. And don’t tell me your beloved Nissan gives you great joy. I do understand your point and I agree base models gotta be more base, especially in this market, but some of this “progress” is truly fantastic. Seeing lots of ford 3.5 twin turbos hitting 300,000 miles on the original engine. There are some good stories out there if you get the right thing. That said re the complexity. I do agree completely. Trucks have become what everyone fears about owning German luxury cars out of warranty. They all have similar systems design (modules, canbus) thus the same sort of complexity. Even the shop rate at my local RAM dealer is getting suspiciously close to pre 2020 Mercedes shop rate. 😳 That said. For me anyway, performance and some efficiency gains are too tempting and I’ve enjoyed these newer engines greatly. I love turbos, I love their upside every single day. Maybe there ends up being a problem with a turbo one day, who cares. You bought an extended warranty (smart thing to do actually). All worth it when i can do a 5.3sec 0 to 60 in a 1/2 ton super crew luxury ford truck yet still get 24mpg around the city. Win win.
@@TheLumberJacked We each get to define what joy is. For me it was buying a nice house, paying it off early, paying cash for my trucks and motorcycles, then retiring early. Full retired at 56 with more than enough money for the rest of my life. At 57, paid cash for an RV, spent half of each of the next 12 years traveling the country. 72 years old now, enjoying a slower pace at home. If for you, joy comes from driving a twin turbo, heated steering wheel truck to work and back every day, I say go for it. We are all different in how we find "joy".
@@TheLumberJacked And I don't dispute that much of this technology is fantastic. The radar sensors etc, for blind spot monitoring, cross traffic and such are true technical marvels. What I'm saying is this stuff costs a lot to develop, implement, repair, or replace if damaged. Much of this stuff is literally an answer to a question I didn't ask. For instance, I know how to check my blind spot without tech. It's called turning my head, and it's free.
My wife saw a powder blue Bronco Heritage 2 door on our local Ford dealers lot last week, and fell in love. I checked the price on their web site, and that dang thing stickered at over 71,000 bucks. Dealer price $68, and change if you qualified for all of the incentives. It was a very short love affair.
We have a 2009 Ford Expedition with 130k miles and it has been a great rig without any major issues. Last year when I was getting an oil change at the dealership where we bought it from I noticed new Expeditions for $90k+. I decided that I would rather invest $5k or so to get a new paint job and repair a few dings and then allot a little more money for vehicle maintenance and upkeep. We will keep what we have thanks to these ridiculous new vehicle prices.
Part of the problem is that manufacturers are building the wrong cars. Most cars have been upscaled and supersized to the degree that there is no way they can be sold at an affordable price without either the manufacturer or the dealerships taking a major loss. Manufacturers need to relearn how to build affordable cars that are smaller and simpler. Effort needs to be made to lower the cost of maintenance and the need to repair. If they don't cater to their customers' needs, then they shouldn't be surprised when customers have little interest in supporting them.
You can thank the EPA for a lot of that. Their regulations on smaller non-electric vehicles are becoming unattainable. You can still get a lot of sub-$20k vehicles overseas because they don't have to contend with as much government overreach.
Manufactures misallicoted investment and resources to a greater extent. they way over bet on EVs. They live in a bubble and doen't pay attention to what the market really wants. Now they want their customers to make good their losses.
@@MadMonk67 In my country those sub €20k are tiny (city) cars, if you can find one. The goverment has a pollution tax (BPM) that adds a certain amount depending on the engine. For EV this is zero, making them relative cheap compared to ICE cars. So that would be €60k vs €80k for example. Lease is mostly done by businesses, with prices of around €1k per month (at leasr for vehicles i was interested in). I must admit, the prices here are VAT included. I just realized those prices the dealers in the usa are showing are without? And once you have a car, you also need insurance, road tax (also based on your car pollution and weight), yearly checkup and maintenance. The "other side of the ocean" isn't always better.
Problem is that they can't due to the CAFE rules. These environmental regulations, which mandate they hit certain mpg efficiency on gas vehicles, requires them to do 2 things to meet those standards that are counter to affordability: 1) Install a bunch of additional sensors, CPUs, and equipment like turbos to eke out additional efficiency 2) build larger vehicles with a larger footprint (b/c the regulations are more lax for vehicles with bigger footprints; however, going bigger is also counter to efficiency). Both of those tricks add costs to the vehicle; said another way, your wallet isn't benefitting from those increased MPGs as you pay more for the vehicle and are forced to buy something larger than what in an ideal world could possibly suit your needs and still satisfy your tastes.
I was in a Chevrolet dealership two weeks ago. They wanted me to trade my Impala LTZ in for a new marked up vehicle. Low tier inventory that was on the lot were overpriced❗️For me to think about a vehicle right now. The prices have to be where it makes sense. Then, the quality has to be much improved. Today they are being made to cheaply, for the price they want‼️
For a couple of years I have been planning / hoping to buy a pickup truck around this coming winter. A few days ago I test-drove a specific version of Toyota Tacoma because I was curious about it. After the test-drive I said to the salesman: "I don't see any second sticker on this, so are you selling Tacomas at MSRP or somewhere below MSRP?" He said: "Oh, the second sticker just came off this one. We are proud that we have dropped our additional markup to only 3,000 when it used to be 5,000". He was actually proud to say they are asking 3,000 over MSRP even on a specific truck that has an insane $9,000 option package over the trim level price. I think that I'll probably buy a low trim level F-150 for around $55,000. What would I consider good??? I think these trucks should be 15% to 20% lower, as they were not many years ago, but I don't see manufacturers dropping their MSRP's that much overall. They may have to push more incentives but that's more like 5% to 10% discounts which does not change the overall decision in my mind. Today's prices are crazy but I expect to keep this truck maybe 15 years and unless the US economy totally crashes I don't see MSRP pricing dropping drastically long-term.
The first car maker to offer a $20,000 or $25,000 vehicle will make a killing. EVERYONE will rush to that dealership. Most people just want a super basic car or pick up truck. A pick up truck is a "TOOL", no one wants a $100,000 fancy one.
@@Spectre-wd9dl$20 - $25k isn’t cheap!!! What dealers need is a truly basic car truck. Sub $15k… like the ford escort or Chevy Cavalier. Or pick-ups like the regular cab Ford Ranger or Chevrolet S10. Mid size cars and trucks of today were the luxury vehicles back then… auto dealers have phased out simple budget friendly vehicles and replaced them with high priced luxury vehicles, or over manufactured technology packed vehicles that people don’t need, but they get wooed into because technology is cool (but extremely expensive). We (average Americans) need to embrace simpler things and stop being so materialistic.
Just turned 55, happy birthday to me, been driving since 1990. I've NEVER purchased a NEW car EVER. Always used, always Toyota sudans. Last 3 were from dealers and were probably lease returns in very good or great shape. My current one, Prius C I bought in 2016, 24,000 miles with extended warranty, the hood and back of mirror protector decal package, and seat protector package for a total of around $25,000, which I thought was very high. But the interest rate was pretty low, around 2%.
Car affordability does not rest entirely on the price of a vehicle. Insurance has now become a major factor in the ability to afford a new car purchase. Premiums are ridiculous right now. What ever happened to Age and Driving Record having an affect on insurance premiums? I'm 53 with a perfect driving record and insurance for my 2 cars is $3k every 6 months. Robbery!
52 here with two cars…I was paying $700 month until recently I shopped around and got it down to $400. Call Zander Insurance and they will shop for you for free.
My first truck, 75 F100, was $3K. Three on the column, no radio, no power windows, inline 6 with a black mat floor cover. Kept it for 10 years and it was still running great with no issues. Had to replace the clutch plates at 100k or so but nothing else. Changed the oil every 3k miles and did points, plugs, condenser myself every 10k miles. Why can we not buy a basic truck today?
It’s not the price. It’s the depreciation. I WON’T spend $50,000 on a car only to have it worth $12,500 (optimistically) in 6 years when I want to sell it. It’s the $37,500 loss over 6 years I can’t justify.
You are so right. I’m trying to sell a 2016 Acura RDX with 133K miles in top condition loaded for $15K - 1/3 the new price - depreciation and no offers.
I agree. That is why I have kept my 2000 ram and 2006 VW, both garage kept and with less than 100k each. At this point they are more like an investment. Might be the last cars I ever own!
@@HistoryRepeats101 I wonder if there are very many private sales with used prices being as much as 30k. Most people have to arrange financing at those prices, which means a visit to the car lot. I just saw a 2012 wrangler for $21999
Problem is, a 2-3 year old used car is only about 5-10% cheaper. Do you really want to roll the dice with a 10 year old card, engines and transmissions are not cheap.
Shop smart and stick with vehicles that hold their value well on the used market. Had a 2017 mustang and got 31.5 for it in the fall of 22 after 5 years. Paid 38 for it new so 6.5k down after 5 years I feel like I came out pretty well because the car I chose to buy held it's value well.
How many people here like me drive a 20 year old vehicle? I haven't bought a new vehicle since 2004. Still driving my Ford Ranger to this day. New cars nowadays bury you. High interest rates, high insurance rates, taxes, fees, state and county registration fees, etc. A lot of us Americans are working 2 or three jobs just trying to make ends meet. Most vehicles cost more than people make in a year. Its crazy!
2003, 2005, 2008, 2010 Toyotas. They drive and look better than most cars on the road. and they're paid off and easy to maintain. The newer cars coming through my shop scare me. So many things breaking, so much cost cutting. It even gets worse for vehicles made after 2020.
Got an 04 Dakota, 166k miles on it. Just rebuilt the engine last year, I plan on holding it for another 3-5 years at least. I can't even find a new replacement for under 50k.
I was amazed at the high prices on cars now. Last time I checked cars out was in 2009 when I bought a 2007 Scion TC for $20,000.00! Since the Scion Tc stopped manufacturing this car in 2016, I cannot compare the exact car now with the one I bought. Toyota, Honda, and Nissan gas and hybrids start at $33,000 up to $44,000.00 for the basic models new and go up from there. To answer your question, I would like to see prices drop about $5000-$7000 dollars for basic models, with the incentive package included. I plan on buying a car in December 2024, and I will have the cash to purchase it with no financing. Do you have a video you can refer me to that can help me understand how to work out a good deal paying in full with cash? I love your videos and have learned so much! I wish I could take you both with me when I go to buy my car in December!!! Lisa G.
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $100k across markets but don't know where to start.
I have been struggling with stocks and forex since 2020 making loses everytime. I am strungling financially and am about to give up. Please please can someone reach for me and help me with trading please.I will appreciate it. Thankyou
Spot on. I feel bad for the young people. I could get an entry level job in the 90's making 20-30K and buy a new car for 10K. Now, entry level jobs are 20-30K and new cars are 35-45K.
@@reasonwarrior EXACTLY. It’s really sad. Not boasting (bc millions make more than me), but I make $180k/year and choose to buy a $25k used Toyota that I’ll drive for 7-8 years. Cars are money pits.
New cars are such a bad deal with instant 30% leave the lot depreciation, I'm waiting for a 50% drop in prices. Even then it depends on many other things for me to choose a new car.
History repeating itself 20 years later. I got the employee discount gm gave customers in 2005 when I bought my 2005 silverado new. This time, I hope there's no bailouts
Mr John back at you here in Nashville TN for my latest update. Last Tuesday I was at a huge shopping center and was so full of unsold Ram vehicles! I knew something was coming down the pike then!
Lol spot on. There's so many channels that say the same thing every day, like "CAR DEALERSHIPS IN SHOCK!!! THIS SIGNALS THE END OF GMC!!!". It's such clickbait nonsense.
I posted on this same subject in other car markets are crashing videos. This is a repost that I make on other similar car markets are crashing videos. "I feel sorry for all you car dealers because times are hard right now. What you should do just start making you tube videos about how bad the auto industry is at the time. Then start making the YT videos rapid fire with the same message (car dealers are going out of business, they can't make it) over and over 24 hours a day 7 days a week, every second of every minute. The revenue from the YT videos will be very substantial . Look up how much YT pays per view then look the views each video gets. Now look at the tons of vids each You Tuber produces each month, Now do the math. So maybe if this and all the other You tubers start making videos like this in mass OH WWAIT A MINUTE. "
Do you not pay attention? Stock market just took a major hit due to buffet selling massive stock.. then he will buy it back when prices dip.. thats how they manipulate the stock market.. which effects the prices of the goods those companies sell.. what is happening is the federal reserve is holding up the economy by charging so much interest until the election.. if they allowed it to fall right now completely they know nobody will vote for them.. they want to usher in digital money.. this is the way they do this.
I remember when if you wanted/needed a new car you went to the dealer and ORDERED one, six or eight weeks later, sometimes sooner, they built it. Overstocking vehicles with all options has it's pitfalls...
I wouldn’t buy a “New with 5 to 6 Year Life Expectancy” vehicle. I’d say the last year worth owning is 2019. After that, the cars were built like crap or built from crap components. I’ll drive my 2018 Lincoln MKX until I’m forced to make one of two choices… 1. Hope that Amazon can provide everything in life that I’ll need. 2. Well,…….the end.
@@RobertETH Plus way too many sensors and systems that can go bad. I don’t want to ride in, pay for or maintain a car or truck that can drive and park itself. I’ll do that part.
@@WeWokeTheGiantsbut are people paying them? Because if people will pay these prices, then that would be why they are so high. Prices stay as high as the market will bear
Leased my 2021 Silverado Trailboss for $439/mo. Lease end buyout was $38K. I only had 12K miles on it. When I went to the dealer to look at leasing a 2024 Trailboss, equipped same as mine, he told me $740/mo. That is with excellent credit and using my credit union ($0 down). I told him to write up the paperwork for me to purchase out my lease for $38K. No way I'd find a 2021 loaded Trailboss for that amount now, so it would be stupid to not buyout my lease. Both the dealer and my credit union told me that most people lucky enough to lease their vehicles during 2021/2022, were buying them out at lease end. I've now heard that some manufacturers are now writing into their leases that you cannot buyout your lease and you HAVE to turn it in at lease end. We will also be buying out my wife's 2022 Blazer RS when her lease is up. We will stick with these vehicles for the foreseeable future.
The problem is that everyone is driving vehicles on credit or lease. If more of us went back to owning the cars we drove, prices would come back to reality. Same issue happened in paying for college. When it became widely accepted to borrow heavily for college, prices went sky high.
You are so right about that! Student lenders have successfully turned people not yet in the work force into debtors. And surprise! Tuition has gone way up.
I agree with you to an extent in that not everyone, people on this site get it and are not over extending themselves. My Honda just made it to 110K miles and purrs along and is all paid for, plus I don’t owe anyone anything except for monthly CC which gets paid in full every month. Again I don’t buy what I can’t afford to pay for. And it’s unfortunate for those who do bcuz what’s coming down the pike between now and elections will make people sob and that’s putting it mildly.
Even if they were giving them away I wouldn’t want a car that is permanently connected to the internet and spying on me …. Build more basic cars and maybe I buy one
8 years ago I bought a ram 1500 new. It's msrp was about 52k. I got 20% off from incentives and another 10% off from negotiating. Final price before trade in was around 36k. Now with over 200k miles I'd prefer to get a new one, but I'll be holding onto it for as long as I can because of how ridiculous prices still are.
17,000, absolutely would get me back to wanting a new vehicle. The reason is; many of the vehicles have far too many options for the amount of time the bulk of the population spends in them. Yikes, the features like radar, lane departure, computer Module for every function, and for a run around car. Have a great day.
As somebody who sells gmc I can tell you it’s no better. We are taking up to 15k off MSRP. While people are buying a lot we are making no money off them. We are all making money off bulk selling
As it stands now, I am going to drive my present car until the wheels come flying off the vehicle!!! Current car prices are sheer insanity!!!! 🤦♂️🤦♂️🤦♂️🤦♂️
Things are so bad, I've been looking at adding a second vehicle, want not need. I explained this to the different dealerships I've spoken with. Normally after day 2 of the craziest back and forth I have to break up with these salespeople like I'm getting out of a relationship.
Find the vehicle online, send an email with the price you will pay, pay in cash, don't do their financing crap. Wholesale used cars are still a great deal. Pay $8000 for something that some bozo traded in so they could afford the mortgage on their new car, don't pay $40,000 over 8 years for lesser quality because you can afford the payments. The dealers already made their money ripping off the bozo who traded in a used car because it wasn't under "warranty" any more, so they are OK letting you take it off their hands for a small markup.
I spoke to a Stellantis business manager two years ago and he said they were upping their Ram prices by about 500 to 700 per month and their intention was to continue to do so until the public resisted. Well we have and now you're pasying the price.
In April of 2019, I purchased a new 2019 Accord for 16.1% off MSRP in Orange County, California. I went on to Cargurus, looked at what a great price would be, made the offer, and it was accepted immediately. I also paid cash, and told them that up front. It is so different now.
There is two things hurting the car market. 1. Greed 2. Interest rates. Dealers were selling vehicles way over msrp during the pandemic and they thought that would last forever, then with what the Fed did by raising interest rates make it even more unaffordable to buy.
I bought a new 2018 VW Passat GT VR6 in March of 2019 and got $6000 off, spending around $26000. I just sold that car a few days ago for $18000 (8/09/2024). Anything comparable new is $40,000 plus. It's just crazy times. I opted to pay cash for a pre-owned car with an extended warranty. The used car market for anything under $30k is hot. Stupidity on manufacturers dumping all the sedan market for high end 4 door pick-ups and SUV's that cost $50,000 plus! Add in gas and insurance expense makes it prohibitive for the average consumer.
30-35% drop in price, prepandemic levels? EPA & govt interference has always increased cost, with little consumer benefit, for decades! Today you are buying hardware & software, I don't want to drive a computer/AI for repair costs that are more than new car prices 10-15 years ago, greed & control! Had a 2015 Chrysler 65k miles, totalled by a improper left turn. Recently bought a 2004 Ford Explorer Sport Trac, 1 owner, 92k miles for less than 10k cash. While I continue to rebuild a 2003 Durango 4WD for fun! I'll buy a 70's age Big Motor vehicle that has no climate change issues of later years! Let the Auto industry & govt fail & start over. 1776 revival & celebrate 2026 w/o those elite WEF & minions of controlling mega corporations. Mom & Pop, local biz, family farms & freedom from abusive city, county. State & fed control. WE THE PEOPLE ARE THE CONSTITUTIONAL POWER OF THIS NATION, LEARN YOUR CONSTITUTION!
The Green New Scam pushers want the ICE cars priced out of the market. They are setting the unreasonable EPA standards which makes manufacturing more expensive.
These companies are grifters. They blame the EPA for oh it’s now more expensive and then beg for money when they’ve gotten too greedy. I wholeheartedly agree Learn the Constitution but I’d also like to add that we should be more free thinking rather than spoon feeding ourselves with the garbage marketing/PR statements these companies give.
In 2012 i bought a new Hemi Challenger for around 30k and I thought it was expensive. That was over a decade ago, but even with today's decreased dollar value I'm not going to buy another car over 30k again.
I bought a Mustang GT convertible for 8K under MSRP. I now need to buy something for the winter living in RI, so I am hanging on as far as I can towards the end of the year. Hoping that the deals will be better and better as time goes on.
The average age of cars on the road keeps increasing because of high new car prices. It takes a special kind of stupid for an entire industry to price their products so high as to offer a financial incentive to their customers to keep repairing what they already have rather than buying anything new.
It’s every industry bumping up against getting shareholders paid, paying living wages, paying shipping which is getting insane because traffic ect. Boeing is a good example of ruining a company for stock value. McDonald’s ceo has been making some comments about how the working class is starting to hit up the drive through less because $15 is too much for a fast food meal.
Do I keep my utterly reliable Camry and my wife's beautiful, loaded Odyssey and just fix things that need it? New power steering, $699, A/C repair, $1,000; new van: $70k, new Camry: $33k. Throw in $4k to $6k for tax and tags. Uh...lessee... Answer a no-brainer: keep our cars and let the greedy dealers and manufacturers choke on inventory.
For us in Canada a very well equipped half ton Ford,Dodge, or GMC use to be around 80k. On the lower end you could get something half decent between 60-65k. Right now the top end is at around 100k plus.
It’s not JUST the price gauging and dealerships baking $10-$20k in markups over MSRP into the total price, plus financing costs and jacked up interest rates. It’s also the phenomenon of the increasing rate of depreciation across all makes and models. Cars simply don’t hold their value anymore. Drive it off the lot and in less than a year it’s only worth 60 percent of original MSRP, and if you financed it, forget about it!
My husband and I decided to drive our new vehicles for at least 10 years before purchasing an upgrade, and we bought a used Ford Explorer back in 1995 and drove it for 10 years, gave it to our middle son who needed it, then bought a brand new 2005 and we drove it for 10 years, tried to give it to one of our other sons.... they didn't want it, so sold it for $5000 and bought our 2015 which we are still driving. I do not see us buying a 2025 model next year!! I joked to my husband that we will drive this until Christ returns!! LOL My husband has a degree in auto mechanics and takes very good care of all of our 5 vehicles.... and with auto prices around $80K or higher.... the auto companies can just have them!
@@jomama81ranch8 we purchased a used 2005 in 07. drove it from 38k to 170k miles. Gave it to a 16 yo HIgh school kid in 2017. She drove it to 260k and got themselves a “new” 2017 in 2024 upon college graduation. They were “that car was great, I’m not wasting my money on a brand new car like all my friends did”. That 2005 was more reliable than many of her friends much newer cars. Seems kids can actually learn something in school. My purchased new 2008, we paid off in 2012, we continued to make the “payment” into an investment fund. That fund could now but 5 new trucks - but I’ll gladly spend 5k a year and replace parts in my garage and drive that 2008 till I get at least 30 years out of it. I We’ll STILL be ahead 100’s of 1000’s in the bank and have a reliable vehicle.
I went to a local Ford dealership the other day to checkout a Maverick. They sell at list and the dealership adds useless overpriced options. Now the manager keeps calling my to come back.There is no incentive for me to rush into a deal.
Just went to buy an HRV EX-L from my local dealer- they wanted to add thousands above MSRP and offered $300 for my trade- I left and decided I don’t need a car at all, going down to a one car household.
I'm seeing some prices drop around 2-3 thousand for some vehicles but.... when I want a vehicle that is $64,000 and they drop it to $62,000, that doesn't help very much.
I recently bought a 2024 silverado custom. Sticker price was 53k. After incentives I signed at 39k I don't have all the bells and whistles. But its "affordable" now adays.
Car's, trucks etc need to be average below $40,000 ... When the average household income is $77,345 its really hard for folks to justify forking out huge money to get to work.
@@optimomma $25k to $35k more appropriate without govt enforced mandates for EV'S, electronic software crap & EPA fake climate change from the WEF & Corporations!
Need more trucks under 40k and cars under 30k like it was over just over 5 years ago. I used to complain about that but I rather have that than the current way it is lol
Median US income is about $37,500. Average is misleading with top earners so high...so agree with video. Prices way too high for the average consumer esp with high housing costs. Way to go Kamala! Bidenonics to death.
I'm square in the middle of the middle class income-wise, and at current prices, new vehicles would have to come down an average of 50% for me to be able to afford one. So that $45,000 truck needs to be closer to $25,000. That "average car" of $37,000 needs to be under $20,000. When the average middle class job is paying $70,000 a year or less, the average vehicle needs to be less than half of that income for a family to be able to afford a vehicle for each parent, because let's be honest, most families can't get by without two cars. (I grew up taking public transit everywhere as a kid in the 1990s-2000s, but that's not an option for 95% of the population. I currently live in the Dallas Metroplex, but the nearest public transit is 15 miles away.)
I'm in need of a new car. My truck just hit 20 years and its time. I refuse to pay what they want. I'm in a position to pay cash for pretty much anything I want. Doesn't mean I'm going to throw away money I worked so hard for. Even if I were willing, I'm also not willing to pay the insurance rates these over priced vehicles would require.
20 25k , the only reason car prices are so high is all the electric crap, bring back crank windows, do away with touch screens and add old school radios, ditch the electric mirrors and seats
@@joshuatracy4829 Based on what you can buy the replacement/repair motors, mechanisms, etc for in the aftermarket, the things you're talking about (besides the proprietary touch screen which is only expensive because the OEM is the only source), otherwise that's only $2K worth of legitimate value added features. However I am in agreement that I don't need many of these features, and that I much prefer normal, ergonomic, and inexpensive to repair, mechanical controls over using a touchscreen for vehicle functions. Electric mirrors though, are a necessity. I mean the photochromatic ones that darken when some tool with excessively bright headlights, feels the need to tailgate and blind me if my mirror can't auto-dim.
All I buy and have ever bought....for myself (not my wife), are trucks. My current 2019 F150 XLT 4x4 I purchased used with 10K miles in 2020, was $26K, with a trade-in of my paid off '08 Tundra 4x4 w/ 130K miles..that got me $10K OFF the OTD price. That was the LAST, GOOD deal I got on a truck. If I were to go buy a new comparable truck today....they would have to be probably around $35--$45K MAX for any top of the line truck model. F150 Limited. Ram 1500 Larimee. Tundra Supercab. Etc. MAYBE $50K! MAYBE....depending on what it has in it. I, nor many middle-class working men and women out there who buy trucks, are under any misconceptions about how the cost of manufacturing everything, have increased. Especially post Covid and Biden. However, the drastic increase in vehicle prices and the length of loans to be able to finance them, has gotten way out of control....all because of GREED!! And apparently it's starting to rear it's ugly head...and I hope all of the car manufacturers get a good, hard sour dose of their own medicine...and it gives them diarrhea! Keep up the great work you 2! I love watching your videos and have been a proud Car Edge member for more than a year now. It has helped me tremendously. God bless!
@@lesbolstad 08 Tundra was awesome, definitely would have kept it. 130k miles!? It would have outlasted the 2019 F150. And in 20 years the 08 Tundra will be worth more than the '19 F150 but it got traded in for $10K!? Where I live there's '08 Tundras with 300k miles selling for $10k.
Biden has nothing to do with the GREED of corporations. Get your head straight. Presidents don't control the market. Consumers do. If consumers continue to pay high prices for goods and services, companies will continue ripping people off. Simple suppy and demand. Not anything to do with who is running the country. WAKE UP BALK at paying $15 for a sandwich or over $40k for a truck or car to get one from point A to B.
I recently looked at new Nissan Frontier, only to see what I will be looking to buy used 5 years from now. I'm 60 and have never bought a new car from a dealership.
Between buying prices, fuel prices and the cost to borrow money... many "normal" people in the working class can't swallow a loan on a $60k or $80k vehicle.
It’s not just price. The inability to buy a quality vehicle without a bunch of unwanted and unneeded tech like blindspot detection, lane management, trailer backup, adaptive cruise control, etc, means it is better to keep repairing and repowering existing vehicles than to enter the new market. More technology doesn’t mean more desirable to all buyers.
I’ve been in the tire industry for 17 years. Delivering all sorts of tires. Prices are still up. A Honda accord is about 40k. Madness and it sits there.
A basic mistake made by car manufacturers. Everyone rushed to produce "luxury" cars. Luxurious in name, equipped with electronic gadgets that are practically not used. The mistake is the lack of production of vehicles for ordinary people without these fancy extras.
People weren’t/aren’t buying ordinary sedans enough to make them profitable, so they quit making them. There are a few left. The small ones, Mirage, Versa, etc., are going away next year. My cars are paid for. I will make them last as long as I can!
Well kinda, but they are going to have luxury prices regardless due to costs and regulations. They can't make a car for less than $20k, it's just not possible. So what are they competing against? You can pick up a used car for $2000 that has "luxury" features but was made 20 years ago. Everything still works on it. So who is going to pay $20k for basic when luxury used is only $2k?
There has never been a Dodge ram truck worth $70,000. It will rust out completely within your first five years of owning it and then the motor will shit out.
@@HHI455 thats funny... ive never had a dodge that didnt live to see its 20th birthday... i currently have a dodge in my driveway thats about to celebrate 50 years and guess what its a numbers matching car... and a chevy truck thats numbers matching about to celebrate 40 years... you 3 just need to say you dont know how to properly maintain a vehicle rather then being disingenuous...
@@angelusmortis3256 My Pontiac is now 57 years old runs like a scalded dog. And a Powerstroke that is 21 years old also runs like a scalded dog. Wife has a 24 year old Jeep that the little things keep breaking on like heated seats, window regulators. switches and ac condenser that is what annoys me but the 4.0 runs great. I guess it put a sour taste in my mouth for Chrysler products. Growing up my dad had a 65 Dodge that had similar interior issues. I have heard from others about the trucks and many transmission issues. So i am out on the 70k or more Dodge truck.
we have a 22 Subaru cross trek. just turned 40k miles. The backup car is a 59 rambler with 493k miles on it. both are dependable and get good gas mileage.not going to worry about car prices for a long time.
Used car prices are insane as well…my daughter has saved 11k @16 y/o for her first car and all we can find are cars w/ 150k miles for that much or more. Remember when a used Honda accord with 120k miles cost about 7k?
It's the same in other countries too! The used car market exploded during Covid, as the wait times on new cars coming into our country was upwards of 10 months. Plus, they wanted a rather substantial deposit to 'secure' your vehicle. Insane, and i'm glad it's going to pop personally. I miss buying a cheap car for the kids to learn in.
I paid $26,000 for my Jeep Rubicon TJ new in 2004. I got home and got buyers remorse from paying $26,000. I asked myself : "What the heck did I just do". Well, I still have the Rubicon. It has 150,000 miles and still runs great. New Rubicons like mine are $66,000. Now I feel i made the best purchase of my life when I bought the jeep.
Car prices need to drop by at least HALF of what they are currently. It is simply ridiculous that most people cannot afford even a basic new vehicle without having a 5-7 year loan or instead, get into the vicious cycle of leasing. Heck, about three years ago I bought a 2016 Ford Explorer with 100,000 miles on it and paid about $24,000 because that was the cheapest I could find one for! Absolutely insane that it has come to this kind of nonsense!
Went to nissan dealer to trader 2020 f450 with 50k miles on it they offered me 25k less than I sold it for privately, but also hiked the price of the frontier 15k over internet price. Needless to say I'd never shop there again.
Compare car depreciation with updated numbers for 2024 (100% FREE) > caredge.com/compare/depreciation
-20%
-15%
35% . Too many people shop cars by monthly payments instead of purchase price ! Dealers using 72 months & up financing to get the monthly payments down.
The issue isn’t just the prices, people are literally living off credit, getting laid off, and having their credit tank, and banks aren’t financing people without putting down $7k-15k
The effect is directly and indirectly. It is, yes, a matter of these manufacturers pushing the limits of their greed to see how far their customer market will go. Pricing for vehicles is the same as the housing market, gold, silver, etc... Everything is about 40% overpriced. It is not just a factor of the car price deduction. Interest has to come down as well. After all that being said. Wages/inflation charts indicate that the average worker is basically bringing home half of what they were making four years ago. So put aside the matter of the overall price of the vehicle. Consumers simply just can not afford to add the car payment to their budgets currently. It's as simple as that. Even if they lower cars 50%. There will not be a divine line of consumers to gobble up all the inventory. Most can not even afford to come up with another $200 expense per month, which in most cases a new car will set you back $700 a month. Then add insurance on top of that... Not going to work out...
My son went to a local Honda dealer in Orlando to shop for a Civic Sport with 6-speed manual. MSRP was $29k, dealer equipment added another $6k. He walked out the door and never returned. So proud of him!!
Had the same thing happen to me here in NC. Looked at a 2017 v6 Camaro manual with 14k miles at $27k. Dealer wanted to add $5k for add ons. We walked to say the least. Then got a newer one with a bit lower trim but better overall, for less!
In this economy???
6k on a civic is crazy! I shop trucks and can understand some of the stuff they add like bed liner, steps etc. but sounds like a bunch of junk added.
Orlando has a lot of people that are not financially smart, that’s their target market. You know, the folks south of I drive 😂
Best decision ever 👍
The average American needs cars below $30K. We can’t afford $40K or more.
We can't afford new cars now, just too high, not justifiable for us.
Yea these dipshits think people will still pay
Mazda Cx5 is where you need to look!!!
That's a big reason why the 2024 Chevy Trax is so popular. Top trim fully loaded maxes out at around 28K MSRP. I love mine.
Idk, I’d say more like 20k. If you have to finance it, you can’t “afford” it.
I can’t afford anything over 20k. I don’t care if it’s used or new. These vehicles have been over priced for the last 25 years.
Isn't it hard to believe that a car that costs 85 thousand dollars in your country costs 630 thousand dollars in Turkey, that the minimum wage is 500 civil servants, their salaries start from 1500 dollars, and house rents start from 250 dollars, but this is exactly what
New car prices have gone up 60% over the last ten years. How much has your income increased in that time? How much has inflation eaten into your income in just the last four years? Car prices need to come down 50% for a regular person to actually be able to afford one. $115k for a damn Jeep? GTFO.
Car prices going up has nothing to do with inflation. People were dumb enough to pay over MSRP during the 2021 chip shortage and dealers got greedy.
Stop blaming inflation when it's been below 3% for the past 18 months
@@TheRealCatof under 3 % for the last 18 months what fantasy island do u live on ?
@TheRealCatof They didn't blame inflation they simply added inflation to the overall hardships to all of us plus insanely high car prices.
@@edg5218 It's called reality
@@TheRealCatof Ya ok what did CNN tell u this ? Gas is up over 3% so is electric have u been to a supermarket lately there's your reality !
I was in the market for a new vehicle when I commented that the prices on vehicles were getting higher every year. The sales person told me “don’t you realize that everything goes up every year”. My wife quickly responded, “not so with salaries”. She then asked the salesman if he had received a raise in the previous years. We heard crickets.
I have come to the realization that I don’t need a new vehicle. The greed by the Auto manufacturers has completely driven me away from purchasing a new vehicle again.
When prices go high, I go low. As an example, When they raised the prices at restaurants, I just went less often or cooked at home trying different recipes. I’m not alone and it appears that automobile manufacturers just don’t get it.
I have this little mexican drive-thru near me and like everywhere else, the prices are going sky high and the portions smaller. Like the "super nachos" are about the half order of a place I used to go to before I moved after retirement last year. I got sick of paying $13.00 for the "super" nacho so I just got the order of chips, guacamole, and cheese and the wife just got the cheese quesadilla. It filled us up just fine and I got the whole order for less than the one order of "super" nachos I used to buy. Just takes a little creativity folks. Something I think the current generation needs to survive this thing called life, like the rest of us did.
@@dgunearthed7859 And the best parts is that you are both eating less but still getting fed!
@Quality_Guru only by the creativity and resourcefulness of us, not politicians. We need to go back to how it was. They almost begrudgingly served for awhile then ent back to their normal jobs. It wasn't to use it as a power grab cash cow proposition. And yes I'm talking about both parties.
@@dgunearthed7859 republicans are far worse and it's not even close.
You do realize the real income of car sales people depends on how many cars they sell…. Not on their their base pay which is low and they cannot live
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
High yield Corporate Bond Funds are more stable and better than the Stock Market! Plus provide a monthly income!
You need to hold onto cash.
@Carlos-1500 - get an advisor that specializes in middle class. Then dump your funds into a mutual fund. Bond heavy mutual funds will be big again soon
get yourself some S&P500, it's been my top performer since before COVID, even warren buffet said can't lose with it. But also invest in more than one spot, best idea is investing in company you use daily and will keep buying from, if you support it and think it's good and most definitely is
Love watching you guys, but this is the 200th “the market is collapsing!!” video you’ve put out and it still hasn’t collapsed.
same bu..it every day, just to keep posting
And don't focus on Stellantis. It's a train wreck so easy to talk about their woes.
I’ve unsubscribed and once in awhile I’ll take a look at this channel and still nothing came to fruition
No. It IS collapsed. This is what collapsed looks like: no one buying, cars sitting on lots, revenue dropping, debt going up.
@@stavroslask1292 It is like the old soap opera Day of our Lives. You can not watch it for 15 years, tun in and nothing has changed but a little more grey hair :)
The real problem is with the public that are foolish enough to pay the high prices.
Half the blame is the lenders allowing it also. Stupid people couldn't buy without lenders loaning what they do. Only reason sales are as bad as they are is stricter loaning standards. Stupid is forever
Wait until the banks own their stupid loans. The only way they are sold is fantasy financing. Banks can enjoy driving all the repos. I would not pay over 30k for a new small truck. 4X4 Toyota's are the best.
Sometimes you don’t have a choice and you just gotta a buy. Companies buying fleet is clearly floating manufacturer boats right now though worth fully half of Fords business right now. So 🤷🏻♂️ gonna need a more crashy crash for real change to kick off IMHO.
People got used to and started to consider normal that pandemic pricing. And when the pandemic shortages went away, prices didn't come back down. Prices NEVER come back down, the dealers and manufacturers like those extra profits too much.
WERE foolish enough. The market is correcting itself and due to all the repos banks aren't just lending anyone money. It's the foolish millennials and gen x....when interest was 2% it was easy, same as houses, now it's 10% and people are getting destroyed. So many mortgages are being renegotiated now their terms are up and their house payments are doubling.
I looked in one area of toronto and it had 900 units for sale in a 5 km sq area.
Will never go to a dealer again.
I will continue to buy used from private parties, and fix my own stuff. The trick is researching the cars and brands that have horrible failure rates, and staying away from those.
Car Wizard does a great job of helping people determine which cars, suv's, and trucks are worth getting.
The true problem is, if these manufacturers don't fix their issue, the used market will inflate more and ruin EVERYTHING!
Our family has done it for years. We always keep three cars, but since we don't have car payments and save that money instead, we can jump on any good deals and pay cash. We know what to stay away from mechanically, and which ones are good years. If we find a better car, we buy it and then sell one we already have. Since we have three, if we need to work on any of them we can take our time. Just because we wanted a better engine for our Jeep LJ 2004, we bought a custom engine for cash and are putting it in right now. It saves you a ton of money if you can fix your own cars. Being in debt is slavery, so we avoid it. We don't even have credit card debt. In the last recession, used cars were more sought after and the junk yards were picked through more. It is the downside of a recession. In good years, it is easier to find good used cars, and to pull parts from the junkyards.
My gf and I had been aggressively saving for a few months and thank God we did, because my car went up a few months later. We got up extra early, carpooled to work, stayed positive and patient.
A week ago I bought a 2004 Jaguar xj8 with 88,000 miles for under 4k off Craigslist. Fuel filter needed replacing, and now it rides like a cloud sporting a V8. So thankful and insanely comfortable 🙏😌
You can ‘tote a note or tote a wrench’. I’m with you, I’ll tote a wrench. I haven’t bought a car for myself ever with under 90k miles on it.
$40,000 for a Jeep Compass is ridiculous. It’s not even a case of ‘It’s too expensive and I can’t afford it.’ It’s more ‘It’s too expensive and I’m not paying that.’
Jeep Com.p.ass is a max 10k $ crap
Yes the manufacturers have lost all concept of value.
I rode in one a while back. Extremely cheap feeling. No way a fully loaded one should be worth a penny more than $30k.
Tops out $15k loaded but plan on replacing the transmission every 2 years
Not to mention, it's a POS , if these cars were expensive and trouble-free for 200k miles ok. But most will need major work at 100k , timing chains cvt transmissions .
I am a farmer, I need a 3/4 ton truck. It is ridiculous that these trucks cost $70 grand, they were only $50grand 2-3 years ago and I though that was too high. I will just keep repairing what I have and leave the new ones alone until the manufacturer flops in their face for a few years and they become reasonable again. I have no sympathy for Ford, Chevy, or Dodge. They wanted this, let them grove for my business for a few more years and then I will consider a new truck. I the meantime, I can use my 1989 3/4 ton and completely restore it every year for a small fraction of the cost of a new truck.
I agree 100%. The manufacturers and dealers are only interested in the highest profit on each unit. They have abandoned their customers who need basic work trucks.
waiting for BYD to come to the US
I agree! I rebuilt the transmission in my 2001 7.3 that had 220,000 miles on it. Well worth the money vs wasting it on shiny things
Fuckem
A lot of it is from inflation brought about by our politicians, Everyone knew what the minimum wage increase would do to our economy. Then the unions wanted a lot more. I am sure the corporations tacked on a bit to. Also foreign countries kind of got use over the barrel.
I really feel for farmers, just need a basic truck and it's not available, as much as I hate government intervention, they should force the major manufacturers to produce a basic heavy duty pick-up that is only sold to qualified farmers.
I'm in the ball park of never buying a new car. Prices are insane for these cars. The stuff they are putting in them now I don't need. I want winder windows. I don't need cameras all over my car to see around me. I don't need to have 2 different air temps on each side of my car. I don't need TV screen in front and back. I don't need heated seat. I don't need super bright headlights. I don't need blind spot checkers. Give me a car that will drive me from A-B , that has a Key a window I can wind down with a handle and a radio knob I can turn up. Thank You!
It is also less things to break down and eat away at your pocket book.
purple.... you are exactly right
I wish I had a doller every time I heard the, "car market is crashing!" I could buy a car!
Yep the Real Estate market has collapsed the same number of times..
If had a dollar for that many times you afford the actual car
Don’t know where you folks live it’s happening in both the housing and car market. I’ve been trying to sell a 2016 Acura in excellent condition for 3 months and no offers at $15K. This car is loaded and is in excellent shape mechanically as well as esthetics, no dents or scratches. I worked at the corporate level in marketing as a sub-contractor for GM& Chrysler, I get the mentality, day late on trends.
@@sandtoy11510the prices have sort of dipped…. I mean not as drastically but still. Not to mention I feel like it’s fair to assume with wages not going up and inflation rising so much that the expectation is for some type of recession to lower everything
@@HistoryRepeats101stg it’s not something insane yet but it’s definitely not insane markups
25%. It needs to be back to pre-pandemic pricing. Dealers got greedy during the pandemic, and now they should pay for it.
The supposed pandemic allowed the crooked politicians to destroy our economy.
Agreed. I would personally like it to go to 30%, but 25% would be amazing too.
But they won't, because they all have been balled out by big government so they now owe said big government so they will keep making ev's cause that's what big government wants then to do so that's how that story goes.
Reason why I drive a hyundai and a nissan, both under 30k when they were bought.
If the manufacturers feel the pinch too bad, they'll go running to D.C. again for more bailouts.
@@fjb425If the government wants to regulate unreasonably maybe they need to share the cost of these absurd standards, but if it were up to me i would drop these ridicules mpg standards, let the people buy what they want. By the way why do electric vehicles not have to give you any idea of what it costs to charge them, just wondering hum.
Anything over $28,000 dollars is not doable for regular people.
I paid 12k for a two year old Ranger, drove it for over 20 years. Great truck. Loved it. Broke my heart when the wrecker loaded it up. Started looking for a new truck and what I always come back to is why would I pay 3 to 4 times or more for a truck I like less than that Ranger.
Worse still, all the trucks around here are designed to be curio cabinets full of electronic BS I dont need. My Ranger had 4-wheel drive, cruise control, and power windows. Thats it. That'll all I need.
Unless the body was rusting out of it, you should have just fixed the ranger. For what 1/2 ton truck prices are now, I could rebuild my ranger from the ground up 3 times over. Once my 4.0 quits, I will probably just pay to have it rebuilt, unless the block is destroyed.
That's my option list as well air, cruise, power Windows and doors.
Old gen Rangers are great trucks and thats coming from die hard GM guy
In 2001 I gave my grandmother $1,500 for her 1987 S10. I’ve been driving it since. It now has about 540K miles on it and still running like a champ
50% minimum on a car and 70% on trucks. They are depreciating liabilities.
People like to think houses and cars are assets, but... they're liabilities as you state.
@@MarcMercier1971
Houses are generally an asset, depending on where you live. When my significant other and I decided to consolidate households, she made almost a 50% profit on her house after only 5 years in the house. Cars are always a liability unless they’re collectible.
40-50% is where im at too.
@@MarcMercier1971 My house has doubled in value since 2019. Definitely an asset.
I'm a UAW member and working for Mary Bara, in this last contract we were given $1,500 off a new vehicle. I went truck shopping and found a new truck that MSRP at $64k, with $9,500 in rebates and $10k cash I was looking at a $700 (82 months) payment plus $100 a month insurance. To me $1,500 from Mary was 1970 money when buying a $64k truck. One more thing, I help build the Silverado at a rate of one a minute at the Fort Wayne Indiana plant. We could see a whole production shift cut very soon.
@1259sw... thank you for the info. One vehicle per minute ?
I have a 1988 Chevrolet Silverado. I could spend 2000 dollars a year fixing it, and it would take me 50 years to equal the cost of a new truck today. I'll just keep repairing my truck until I die, because that truck is going to outlive me.
Smart. It's nice not making payments. And it's smart to not invest in expensive new garbage assets that depreciate.
I never thought of it like that, now I'm keeping my 04 silverado forever.
YES strong quality trucks that drive 250 to 500k miles with just changing the fluids.
Yup and a new engine in that truck will cost less than a computer or high-pressure fuel system. Not to mention the head gasket and timing chain in that 350 sbc will last the life of the vehicle.
not to mention, the new vehicles are way more expensive to maintain. Especially for any fender benders, rock chips, other types of damage
Never in my lifetime have I been so happy as to have paid off all of my automobiles! All of them are in good running shape and under 200,000 miles so we are in no hurry.
Same here. I have three vehicles, a 2011 Mazda Miata with 172k miles that I bought new, a 2012 Toyota Camry with 102k miles that I bought new, and a 2016 Toyota Camry with 56k miles that I bought new. I am 68 my wife is 63 we do not see ourselves ever buying another new car. The 2016 Camry will most likely out live our driving abilities.
100 percent, yes!
Same for me. Also, all these newer vehicles have all these electronic modules, that will fail and replacements will be no longer available in just a few years.
@@sharthun2009 Exactly, We have a 2016 Silverado with 150k km and a 2019 Jeep Cherokee with 56k km and both are paid in full. We lucked out and got 0% and below MSRP. We wont need another vehicle in at least 5 years. Hopefully by then, the vehicle market will have crashed post covid and prices will be down to pre covid prices.
You got that right. Even if you banked $500/mo for repairs (which you won’t actually spend) you’re still way money ahead with the taxes and fees lost every time you purchase a new vehicle. Heck, if in 5 years you need a motor or transmission and spend 5k on those each, your STILL money ahead and have a vehicle that’s probably just as reliable as a new one. I use our purchased new 19yo 250k mile ( garage kept ) truck for towing only and just got back from a 2600 mile trip dragging a 7500 lb trailer. For driving it less than 10k miles a year, it would be stupid to replace it. I would drive it to the snow covered mountains or the remote desert tomorrow without a single hesitation. Once it was paid off in 4 years, we continued to put the “payment” into an investment account. I could purchase 5 or 6 new trucks from that account. But if I get 30 years usage and 500k miles out of this one, I might consider it. 😂
If Ford, or any other manufacture, lowered the price of their $80,000 trucks 50%. many buyers would still be unable to afford them because the incomes in America just aren't supporting these prices.
When I seen 4x4 trucks hit $40.000 I refused and still refuse to buy NEW. And now they are the price of a nice house NO WAY.....
I just got a 4x4 Ranger for under 40k
You haven’t looked at houses lately. Don’t get me wrong I agree with you. But show me a nice house for 100,000
@@bh7940 that largely depends on where you live . I'd still spend 100k on a crapbox fixing it up and re-selling it to flip than spend 100k on a vehicle with huge depreciation.
@brianandreasen2200 So it's not a nice house...
@@linyefuleven with your thinking home prices are through the roof as well. Doesn’t normalize car and truck pricing.
These automakers have lost their mind. Why would I pay a car payment that is equivalent to my mortgage? I’ll keep rolling along in my 2006 Civic until prices are reasonable.
@mw9891-q1f have you looked at current home prices? they shot up to over 400,000 back 2021, they are coming down, just very slowly
@@DavidWiliams-r1g There's still homes for $60k and more people are working from home which means less people are forced to buy in the cities and suburbs where prices are being amped up by speculative investors.
Good for you.
@@gorkyd7912Bro youre smoking crack. Zero homes available for 60k
Im in canada and was in the car industry for 25 years as a sales manager for gm and audi. The difference is the cost to full retail in the majority of vehicles is gone. Audi had more gross than GM on average vehicles. The days of dealership sales are numbered. People don't want to haggle anymore. If the car company's would price the vehicles to buy and cut out the middleman then prices would come down. The car industry is in for a huge change. China is gonna change it. Make dealerships delivery, inventory and service stations. And for your trade value the internet is already telling you what the current market value is.Let me know what you think.
Thanks
Clayton
The "cost" of new vehicles is only an indirect reason I don't want one. The problem is too much tech, which has to paid for. I don't want turbochargers, lane keep assist, blind spot monitoring, heated seats and steering wheel, large touchscreen, moonroof, etc. I want a good basic vehicle like my current 2006 Nissan Frontier, with a NA - V6, six speed manual gearbox and 4WD.
Exactly! Keep it simple, stupid…..less tech to break down. I’m still driving a bare bones car with roll up windows, 110,000 miles on the odometer. Fuck the ‘Stealerships’!
Woah settle down. You may be fine with a joyless automotive experience, but I ain’t. And don’t tell me your beloved Nissan gives you great joy. I do understand your point and I agree base models gotta be more base, especially in this market, but some of this “progress” is truly fantastic. Seeing lots of ford 3.5 twin turbos hitting 300,000 miles on the original engine. There are some good stories out there if you get the right thing. That said re the complexity. I do agree completely. Trucks have become what everyone fears about owning German luxury cars out of warranty. They all have similar systems design (modules, canbus) thus the same sort of complexity. Even the shop rate at my local RAM dealer is getting suspiciously close to pre 2020 Mercedes shop rate. 😳
That said. For me anyway, performance and some efficiency gains are too tempting and I’ve enjoyed these newer engines greatly. I love turbos, I love their upside every single day. Maybe there ends up being a problem with a turbo one day, who cares. You bought an extended warranty (smart thing to do actually). All worth it when i can do a 5.3sec 0 to 60 in a 1/2 ton super crew luxury ford truck yet still get 24mpg around the city. Win win.
@@TheLumberJacked Twin turbos hitting 300K? Do please share your sources or multiple news channels touting such facts.
@@TheLumberJacked We each get to define what joy is. For me it was buying a nice house, paying it off early, paying cash for my trucks and motorcycles, then retiring early. Full retired at 56 with more than enough money for the rest of my life. At 57, paid cash for an RV, spent half of each of the next 12 years traveling the country. 72 years old now, enjoying a slower pace at home. If for you, joy comes from driving a twin turbo, heated steering wheel truck to work and back every day, I say go for it. We are all different in how we find "joy".
@@TheLumberJacked And I don't dispute that much of this technology is fantastic. The radar sensors etc, for blind spot monitoring, cross traffic and such are true technical marvels. What I'm saying is this stuff costs a lot to develop, implement, repair, or replace if damaged. Much of this stuff is literally an answer to a question I didn't ask. For instance, I know how to check my blind spot without tech. It's called turning my head, and it's free.
My wife saw a powder blue Bronco Heritage 2 door on our local Ford dealers lot last week, and fell in love. I checked the price on their web site, and that dang thing stickered at over 71,000 bucks. Dealer price $68, and change if you qualified for all of the incentives. It was a very short love affair.
I was looking at that exact model too. $70k is too crazy though. And the regular Heritage has that ugly black plaid CLOTH interior.
@@raywri We didn't get to the interior. After she saw the price everything came to a screeching halt. 😀
Exact same model/color at my local dealer, same MSRP, they had it out for $84k. And someone bought it. A fool and his money....
We have a 2009 Ford Expedition with 130k miles and it has been a great rig without any major issues. Last year when I was getting an oil change at the dealership where we bought it from I noticed new Expeditions for $90k+. I decided that I would rather invest $5k or so to get a new paint job and repair a few dings and then allot a little more money for vehicle maintenance and upkeep. We will keep what we have thanks to these ridiculous new vehicle prices.
Part of the problem is that manufacturers are building the wrong cars. Most cars have been upscaled and supersized to the degree that there is no way they can be sold at an affordable price without either the manufacturer or the dealerships taking a major loss. Manufacturers need to relearn how to build affordable cars that are smaller and simpler. Effort needs to be made to lower the cost of maintenance and the need to repair. If they don't cater to their customers' needs, then they shouldn't be surprised when customers have little interest in supporting them.
bring back the pontiac vibe/ matrix platform, cars that are actually functional
You can thank the EPA for a lot of that. Their regulations on smaller non-electric vehicles are becoming unattainable. You can still get a lot of sub-$20k vehicles overseas because they don't have to contend with as much government overreach.
Manufactures misallicoted investment and resources to a greater extent. they way over bet on EVs. They live in a bubble and doen't pay attention to what the market really wants. Now they want their customers to make good their losses.
@@MadMonk67 In my country those sub €20k are tiny (city) cars, if you can find one. The goverment has a pollution tax (BPM) that adds a certain amount depending on the engine. For EV this is zero, making them relative cheap compared to ICE cars. So that would be €60k vs €80k for example. Lease is mostly done by businesses, with prices of around €1k per month (at leasr for vehicles i was interested in).
I must admit, the prices here are VAT included. I just realized those prices the dealers in the usa are showing are without?
And once you have a car, you also need insurance, road tax (also based on your car pollution and weight), yearly checkup and maintenance. The "other side of the ocean" isn't always better.
Problem is that they can't due to the CAFE rules. These environmental regulations, which mandate they hit certain mpg efficiency on gas vehicles, requires them to do 2 things to meet those standards that are counter to affordability: 1) Install a bunch of additional sensors, CPUs, and equipment like turbos to eke out additional efficiency 2) build larger vehicles with a larger footprint (b/c the regulations are more lax for vehicles with bigger footprints; however, going bigger is also counter to efficiency). Both of those tricks add costs to the vehicle; said another way, your wallet isn't benefitting from those increased MPGs as you pay more for the vehicle and are forced to buy something larger than what in an ideal world could possibly suit your needs and still satisfy your tastes.
I was in a Chevrolet dealership two weeks ago. They wanted me to trade my Impala LTZ in for a new marked up vehicle. Low tier inventory that was on the lot were overpriced❗️For me to think about a vehicle right now. The prices have to be where it makes sense. Then, the quality has to be much improved. Today they are being made to cheaply, for the price they want‼️
Those impalas are nice cars. It’s a shame they stopped making them
For a couple of years I have been planning / hoping to buy a pickup truck around this coming winter. A few days ago I test-drove a specific version of Toyota Tacoma because I was curious about it. After the test-drive I said to the salesman: "I don't see any second sticker on this, so are you selling Tacomas at MSRP or somewhere below MSRP?" He said: "Oh, the second sticker just came off this one. We are proud that we have dropped our additional markup to only 3,000 when it used to be 5,000". He was actually proud to say they are asking 3,000 over MSRP even on a specific truck that has an insane $9,000 option package over the trim level price. I think that I'll probably buy a low trim level F-150 for around $55,000. What would I consider good??? I think these trucks should be 15% to 20% lower, as they were not many years ago, but I don't see manufacturers dropping their MSRP's that much overall. They may have to push more incentives but that's more like 5% to 10% discounts which does not change the overall decision in my mind. Today's prices are crazy but I expect to keep this truck maybe 15 years and unless the US economy totally crashes I don't see MSRP pricing dropping drastically long-term.
Inflated MSRP with 15% off means nothing. MSRPs have gone way to high.
The first car maker to offer a $20,000 or $25,000 vehicle will make a killing. EVERYONE will rush to that dealership. Most people just want a super basic car or pick up truck. A pick up truck is a "TOOL", no one wants a $100,000 fancy one.
Look at the VW Jetta. Starting at $21K. Sales are up 150% year-over-year
Most car manufacturers have cheap cars for around 20-25k.
@@Spectre-wd9dl$20 - $25k isn’t cheap!!! What dealers need is a truly basic car truck. Sub $15k… like the ford escort or Chevy Cavalier. Or pick-ups like the regular cab Ford Ranger or Chevrolet S10.
Mid size cars and trucks of today were the luxury vehicles back then… auto dealers have phased out simple budget friendly vehicles and replaced them with high priced luxury vehicles, or over manufactured technology packed vehicles that people don’t need, but they get wooed into because technology is cool (but extremely expensive).
We (average Americans) need to embrace simpler things and stop being so materialistic.
Just turned 55, happy birthday to me, been driving since 1990. I've NEVER purchased a NEW car EVER. Always used, always Toyota sudans. Last 3 were from dealers and were probably lease returns in very good or great shape. My current one, Prius C I bought in 2016, 24,000 miles with extended warranty, the hood and back of mirror protector decal package, and seat protector package for a total of around $25,000, which I thought was very high. But the interest rate was pretty low, around 2%.
Car affordability does not rest entirely on the price of a vehicle. Insurance has now become a major factor in the ability to afford a new car purchase. Premiums are ridiculous right now. What ever happened to Age and Driving Record having an affect on insurance premiums? I'm 53 with a perfect driving record and insurance for my 2 cars is $3k every 6 months. Robbery!
52 here with two cars…I was paying $700 month until recently I shopped around and got it down to $400. Call Zander Insurance and they will shop for you for free.
You’re getting hosed and should shop around for a new insurance company.
Shop around at every renewal. The insurance company never gives you a break on the renewal premium.
Is your zip code located directly in the center of a destruction derby? That's insane
@@deanii3993 when I asked my insurance agent why it's so expensive he said "because you live in Colorado"
They had better do both: incentivize and lower prices
My first truck, 75 F100, was $3K. Three on the column, no radio, no power windows, inline 6 with a black mat floor cover. Kept it for 10 years and it was still running great with no issues. Had to replace the clutch plates at 100k or so but nothing else. Changed the oil every 3k miles and did points, plugs, condenser myself every 10k miles. Why can we not buy a basic truck today?
It’s not the price. It’s the depreciation. I WON’T spend $50,000 on a car only to have it worth $12,500 (optimistically) in 6 years when I want to sell it. It’s the $37,500 loss over 6 years I can’t justify.
You are so right. I’m trying to sell a 2016 Acura RDX with 133K miles in top condition loaded for $15K - 1/3 the new price - depreciation and no offers.
I agree. That is why I have kept my 2000 ram and 2006 VW, both garage kept and with less than 100k each. At this point they are more like an investment. Might be the last cars I ever own!
@@HistoryRepeats101 I wonder if there are very many private sales with used prices being as much as 30k. Most people have to arrange financing at those prices, which means a visit to the car lot. I just saw a 2012 wrangler for $21999
Problem is, a 2-3 year old used car is only about 5-10% cheaper. Do you really want to roll the dice with a 10 year old card, engines and transmissions are not cheap.
Shop smart and stick with vehicles that hold their value well on the used market. Had a 2017 mustang and got 31.5 for it in the fall of 22 after 5 years. Paid 38 for it new so 6.5k down after 5 years I feel like I came out pretty well because the car I chose to buy held it's value well.
How many people here like me drive a 20 year old vehicle? I haven't bought a new vehicle since 2004. Still driving my Ford Ranger to this day. New cars nowadays bury you. High interest rates, high insurance rates, taxes, fees, state and county registration fees, etc. A lot of us Americans are working 2 or three jobs just trying to make ends meet. Most vehicles cost more than people make in a year. Its crazy!
I am driving a 2002 Explorer!
2003, 2005, 2008, 2010 Toyotas. They drive and look better than most cars on the road. and they're paid off and easy to maintain.
The newer cars coming through my shop scare me. So many things breaking, so much cost cutting.
It even gets worse for vehicles made after 2020.
My car is a 2000 Toyota Avalon. At 24 years old, it's almost as old as Zach (29)! 😂
Got an 04 Dakota, 166k miles on it. Just rebuilt the engine last year, I plan on holding it for another 3-5 years at least. I can't even find a new replacement for under 50k.
Don't forget new vehicles being less reliable, more complicated and harder to work on too.
I was amazed at the high prices on cars now. Last time I checked cars out was in 2009 when I bought a 2007 Scion TC for $20,000.00! Since the Scion Tc stopped manufacturing this car in 2016, I cannot compare the exact car now with the one I bought. Toyota, Honda, and Nissan gas and hybrids start at $33,000 up to $44,000.00 for the basic models new and go up from there. To answer your question, I would like to see prices drop about $5000-$7000 dollars for basic models, with the incentive package included. I plan on buying a car in December 2024, and I will have the cash to purchase it with no financing. Do you have a video you can refer me to that can help me understand how to work out a good deal paying in full with cash? I love your videos and have learned so much! I wish I could take you both with me when I go to buy my car in December!!! Lisa G.
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises.
All We need is the right advice on how to invest in crypto we will be set for life
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $100k across markets but don't know where to start.
I'm genuinely curious to know how you earn that much monthly
I have been struggling with stocks and forex since 2020 making loses everytime. I am strungling financially and am about to give up. Please please can someone reach for me and help me with trading please.I will appreciate it. Thankyou
Avg household income vs avg car price in 1990 vs today is NIGHT AND DAY different. It’s SICK
1978 ..... My annual income $22.5K ... My new Chevy c20 $5400.
You do the math.
And don't get me started on the price of gas.
Spot on. I feel bad for the young people. I could get an entry level job in the 90's making 20-30K and buy a new car for 10K. Now, entry level jobs are 20-30K and new cars are 35-45K.
@@seeharvester PERFECT example. Thank you for sharing.
@@reasonwarrior EXACTLY. It’s really sad. Not boasting (bc millions make more than me), but I make $180k/year and choose to buy a $25k used Toyota that I’ll drive for 7-8 years. Cars are money pits.
New cars are such a bad deal with instant 30% leave the lot depreciation, I'm waiting for a 50% drop in prices. Even then it depends on many other things for me to choose a new car.
I get GM employee pricing and I STILL will not buy the OVERPRICED GM products.
Based on a prior GM product and what a piece of crap it was I will not own a GM if they give it to me.
History repeating itself 20 years later. I got the employee discount gm gave customers in 2005 when I bought my 2005 silverado new. This time, I hope there's no bailouts
Mr John back at you here in Nashville TN for my latest update. Last Tuesday I was at a huge shopping center and was so full of unsold Ram vehicles! I knew something was coming down the pike then!
LOL It’s been FINALLY HAPPENING for about a year now. Nothing, of substantial relevance, has happened yet.
they've got to get content out there so .... lol
Lol spot on. There's so many channels that say the same thing every day, like "CAR DEALERSHIPS IN SHOCK!!! THIS SIGNALS THE END OF GMC!!!". It's such clickbait nonsense.
I posted on this same subject in other car markets are crashing videos. This is a repost that I make on other similar car markets are crashing videos. "I feel sorry for all you car dealers because times are hard right now. What you should do just start making you tube videos about how bad the auto industry is at the time. Then start making the YT videos rapid fire with the same message (car dealers are going out of business, they can't make it) over and over 24 hours a day 7 days a week, every second of every minute. The revenue from the YT videos will be very substantial . Look up how much YT pays per view then look the views each video gets. Now look at the tons of vids each You Tuber produces each month, Now do the math. So maybe if this and all the other You tubers start making videos like this in mass OH WWAIT A MINUTE. "
Do you not pay attention? Stock market just took a major hit due to buffet selling massive stock.. then he will buy it back when prices dip.. thats how they manipulate the stock market.. which effects the prices of the goods those companies sell.. what is happening is the federal reserve is holding up the economy by charging so much interest until the election.. if they allowed it to fall right now completely they know nobody will vote for them.. they want to usher in digital money.. this is the way they do this.
@@rhal2930 lookup the stock prices, they've all taken a massive hit BEFORE the general market hit Monday.
They are so far out of my range, I don't ever see me buying a new car in the U.S..
I remember when if you wanted/needed a new car you went to the dealer and ORDERED one, six or eight weeks later, sometimes sooner, they built it. Overstocking vehicles with all options has it's pitfalls...
40-50% would make it possible. There is just no way I could afford any new car at today's prices on my fixed retirement income.
Exactly-you might as well give your money away. Buying new has never been an optimal use of funds but now it's insane.
I wouldn’t buy a “New with 5 to 6 Year Life Expectancy” vehicle. I’d say the last year worth owning is 2019. After that, the cars were built like crap or built from crap components.
I’ll drive my 2018 Lincoln MKX until I’m forced to make one of two choices…
1. Hope that Amazon can provide everything in life that I’ll need.
2. Well,…….the end.
@@RobertETH Plus way too many sensors and systems that can go bad. I don’t want to ride in, pay for or maintain a car or truck that can drive and park itself. I’ll do that part.
You could stop eating, guess you just don't want it bad enough
Thank a Demonrat.
Imagine losing 99% of profits and you are still making a PROFIT. And in the millions at that. Greed-flation.
Smooth brain.
6 dumbasses gave the comment a thumbs up. Fuck you Siskel and Ebert.
@DABK2024 We know you're smooth brained and brainwashed.
@@DABK2024 There's absolutely no reason for prices to be this high for anything other than greed. All signs point to greed.
@@WeWokeTheGiantsbut are people paying them? Because if people will pay these prices, then that would be why they are so high. Prices stay as high as the market will bear
Leased my 2021 Silverado Trailboss for $439/mo. Lease end buyout was $38K. I only had 12K miles on it. When I went to the dealer to look at leasing a 2024 Trailboss, equipped same as mine, he told me $740/mo. That is with excellent credit and using my credit union ($0 down). I told him to write up the paperwork for me to purchase out my lease for $38K. No way I'd find a 2021 loaded Trailboss for that amount now, so it would be stupid to not buyout my lease. Both the dealer and my credit union told me that most people lucky enough to lease their vehicles during 2021/2022, were buying them out at lease end. I've now heard that some manufacturers are now writing into their leases that you cannot buyout your lease and you HAVE to turn it in at lease end. We will also be buying out my wife's 2022 Blazer RS when her lease is up. We will stick with these vehicles for the foreseeable future.
Never ever ever pay MSRP.
I will go to my Porsche dealer and will tell that I ain’t paying over MSRP on that S/T🤣🤣🤣
Yup. Pay over MSRP
It’s always under MSRP when it’s used so I’m with you.
Would a new Jeep renegade be worth it at 39k? Used is also an option but I just want to see if that’s an okay price ?
@@victoriajackson6733 $39,000 is way too high. Starting MSRP is $28,000. Honestly I would look at a Toyota or Honda. Jeep is unreliable.
The problem is that everyone is driving vehicles on credit or lease. If more of us went back to owning the cars we drove, prices would come back to reality.
Same issue happened in paying for college. When it became widely accepted to borrow heavily for college, prices went sky high.
You are so right about that! Student lenders have successfully turned people not yet in the work force into debtors. And surprise! Tuition has gone way up.
I agree with you to an extent in that not everyone, people on this site get it and are not over extending themselves. My Honda just made it to 110K miles and purrs along and is all paid for, plus I don’t owe anyone anything except for monthly CC which gets paid in full every month. Again I don’t buy what I can’t afford to pay for. And it’s unfortunate for those who do bcuz what’s coming down the pike between now and elections will make people sob and that’s putting it mildly.
@@marye813 And there is ZERO job for all the learners
USA is built on credit and having debt unfortunately.
Even if they were giving them away I wouldn’t want a car that is permanently connected to the internet and spying on me …. Build more basic cars and maybe I buy one
8 years ago I bought a ram 1500 new. It's msrp was about 52k. I got 20% off from incentives and another 10% off from negotiating. Final price before trade in was around 36k. Now with over 200k miles I'd prefer to get a new one, but I'll be holding onto it for as long as I can because of how ridiculous prices still are.
17,000, absolutely would get me back to wanting a new vehicle. The reason is; many of the vehicles have far too many options for the amount of time the bulk of the population spends in them. Yikes, the features like radar, lane departure, computer Module for every function, and for a run around car.
Have a great day.
As somebody who sells gmc I can tell you it’s no better. We are taking up to 15k off MSRP. While people are buying a lot we are making no money off them. We are all making money off bulk selling
25% for me to even start a new car search
I went shopping for a truck in the 45-50k range. Lease prices are over $1,000 a month unless you put $7,500 down. What a joke. Now the lots are FULL
As it stands now, I am going to drive my present car until the wheels come flying off the vehicle!!! Current car prices are sheer insanity!!!! 🤦♂️🤦♂️🤦♂️🤦♂️
Things are so bad, I've been looking at adding a second vehicle, want not need. I explained this to the different dealerships I've spoken with. Normally after day 2 of the craziest back and forth I have to break up with these salespeople like I'm getting out of a relationship.
@danny
You must have the patience of Job. Or is that entertaining to you?😅
@@cashmeremonroe7715 LOL . No definitely not entertaining.
Find the vehicle online, send an email with the price you will pay, pay in cash, don't do their financing crap. Wholesale used cars are still a great deal. Pay $8000 for something that some bozo traded in so they could afford the mortgage on their new car, don't pay $40,000 over 8 years for lesser quality because you can afford the payments. The dealers already made their money ripping off the bozo who traded in a used car because it wasn't under "warranty" any more, so they are OK letting you take it off their hands for a small markup.
I spoke to a Stellantis business manager two years ago and he said they were upping their Ram prices by about 500 to 700 per month and their intention was to continue to do so until the public resisted. Well we have and now you're pasying the price.
In April of 2019, I purchased a new 2019 Accord for 16.1% off MSRP in Orange County, California. I went on to Cargurus, looked at what a great price would be, made the offer, and it was accepted immediately. I also paid cash, and told them that up front. It is so different now.
There is two things hurting the car market. 1. Greed 2. Interest rates. Dealers were selling vehicles way over msrp during the pandemic and they thought that would last forever, then with what the Fed did by raising interest rates make it even more unaffordable to buy.
I bought a new 2018 VW Passat GT VR6 in March of 2019 and got $6000 off, spending around $26000. I just sold that car a few days ago for $18000 (8/09/2024). Anything comparable new is $40,000 plus. It's just crazy times. I opted to pay cash for a pre-owned car with an extended warranty. The used car market for anything under $30k is hot. Stupidity on manufacturers dumping all the sedan market for high end 4 door pick-ups and SUV's that cost $50,000 plus! Add in gas and insurance expense makes it prohibitive for the average consumer.
30-35% drop in price, prepandemic levels? EPA & govt interference has always increased cost, with little consumer benefit, for decades!
Today you are buying hardware & software, I don't want to drive a computer/AI for repair costs that are more than new car prices 10-15 years ago, greed & control!
Had a 2015 Chrysler 65k miles, totalled by a improper left turn.
Recently bought a 2004 Ford Explorer Sport Trac, 1 owner, 92k miles for less than 10k cash. While I continue to rebuild a 2003 Durango 4WD for fun! I'll buy a 70's age Big Motor vehicle that has no climate change issues of later years!
Let the Auto industry & govt fail & start over. 1776 revival & celebrate 2026 w/o those elite WEF & minions of controlling mega corporations.
Mom & Pop, local biz, family farms & freedom from abusive city, county. State & fed control. WE THE PEOPLE ARE THE CONSTITUTIONAL POWER OF THIS NATION, LEARN YOUR CONSTITUTION!
The Green New Scam pushers want the ICE cars priced out of the market. They are setting the unreasonable EPA standards which makes manufacturing more expensive.
These companies are grifters. They blame the EPA for oh it’s now more expensive and then beg for money when they’ve gotten too greedy. I wholeheartedly agree Learn the Constitution but I’d also like to add that we should be more free thinking rather than spoon feeding ourselves with the garbage marketing/PR statements these companies give.
In 2012 i bought a new Hemi Challenger for around 30k and I thought it was expensive. That was over a decade ago, but even with today's decreased dollar value I'm not going to buy another car over 30k again.
I bought a Mustang GT convertible for 8K under MSRP. I now need to buy something for the winter living in RI, so I am hanging on as far as I can towards the end of the year. Hoping that the deals will be better and better as time goes on.
The average age of cars on the road keeps increasing because of high new car prices. It takes a special kind of stupid for an entire industry to price their products so high as to offer a financial incentive to their customers to keep repairing what they already have rather than buying anything new.
It’s every industry bumping up against getting shareholders paid, paying living wages, paying shipping which is getting insane because traffic ect.
Boeing is a good example of ruining a company for stock value.
McDonald’s ceo has been making some comments about how the working class is starting to hit up the drive through less because $15 is too much for a fast food meal.
Do I keep my utterly reliable Camry and my wife's beautiful, loaded Odyssey and just fix things that need it? New power steering, $699, A/C repair, $1,000; new van: $70k, new Camry: $33k. Throw in $4k to $6k for tax and tags. Uh...lessee... Answer a no-brainer: keep our cars and let the greedy dealers and manufacturers choke on inventory.
It's a no-brainer. Fix and maintain your vehicles.
For us in Canada a very well equipped half ton Ford,Dodge, or GMC use to be around 80k. On the lower end you could get something half decent between 60-65k. Right now the top end is at around 100k plus.
It’s not JUST the price gauging and dealerships baking $10-$20k in markups over MSRP into the total price, plus financing costs and jacked up interest rates. It’s also the phenomenon of the increasing rate of depreciation across all makes and models. Cars simply don’t hold their value anymore. Drive it off the lot and in less than a year it’s only worth 60 percent of original MSRP, and if you financed it, forget about it!
My husband and I decided to drive our new vehicles for at least 10 years before purchasing an upgrade, and we bought a used Ford Explorer back in 1995 and drove it for 10 years, gave it to our middle son who needed it, then bought a brand new 2005 and we drove it for 10 years, tried to give it to one of our other sons.... they didn't want it, so sold it for $5000 and bought our 2015 which we are still driving. I do not see us buying a 2025 model next year!!
I joked to my husband that we will drive this until Christ returns!! LOL My husband has a degree in auto mechanics and takes very good care of all of our 5 vehicles.... and with auto prices around $80K or higher.... the auto companies can just have them!
@@jomama81ranch8 we purchased a used 2005 in 07. drove it from 38k to 170k miles. Gave it to a 16 yo HIgh school kid in 2017. She drove it to 260k and got themselves a “new” 2017 in 2024 upon college graduation. They were “that car was great, I’m not wasting my money on a brand new car like all my friends did”. That 2005 was more reliable than many of her friends much newer cars. Seems kids can actually learn something in school.
My purchased new 2008, we paid off in 2012, we continued to make the “payment” into an investment fund. That fund could now but 5 new trucks - but I’ll gladly spend 5k a year and replace parts in my garage and drive that 2008 till I get at least 30 years out of it. I
We’ll STILL be ahead 100’s of 1000’s in the bank and have a reliable vehicle.
I went to a local Ford dealership the other day to checkout a Maverick. They sell at list and the dealership adds useless overpriced options. Now the manager keeps calling my to come back.There is no incentive for me to rush into a deal.
Just went to buy an HRV EX-L from my local dealer- they wanted to add thousands above MSRP and offered $300 for my trade- I left and decided I don’t need a car at all, going down to a one car household.
I'm seeing some prices drop around 2-3 thousand for some vehicles but.... when I want a vehicle that is $64,000 and they drop it to $62,000, that doesn't help very much.
I recently bought a 2024 silverado custom. Sticker price was 53k. After incentives I signed at 39k I don't have all the bells and whistles. But its "affordable" now adays.
Car's, trucks etc need to be average below $40,000 ... When the average household income is $77,345 its really hard for folks to justify forking out huge money to get to work.
@@optimomma $25k to $35k more appropriate without govt enforced mandates for EV'S, electronic software crap & EPA fake climate change from the WEF & Corporations!
I actually think they need to be below $30,000 or at most that amount. Cars are way too expensive for no good reason.
Need more trucks under 40k and cars under 30k like it was over just over 5 years ago. I used to complain about that but I rather have that than the current way it is lol
Median US income is about $37,500. Average is misleading with top earners so high...so agree with video. Prices way too high for the average consumer esp with high housing costs.
Way to go Kamala! Bidenonics to death.
I double that in income and am not willing to buy anything above 35K unless it is for my wife. Hence, I have been driving beat-up vehicles (
I'm square in the middle of the middle class income-wise, and at current prices, new vehicles would have to come down an average of 50% for me to be able to afford one.
So that $45,000 truck needs to be closer to $25,000.
That "average car" of $37,000 needs to be under $20,000.
When the average middle class job is paying $70,000 a year or less, the average vehicle needs to be less than half of that income for a family to be able to afford a vehicle for each parent, because let's be honest, most families can't get by without two cars.
(I grew up taking public transit everywhere as a kid in the 1990s-2000s, but that's not an option for 95% of the population. I currently live in the Dallas Metroplex, but the nearest public transit is 15 miles away.)
I'm in need of a new car. My truck just hit 20 years and its time. I refuse to pay what they want. I'm in a position to pay cash for pretty much anything I want. Doesn't mean I'm going to throw away money I worked so hard for. Even if I were willing, I'm also not willing to pay the insurance rates these over priced vehicles would require.
Then your going to drive that 20 year old car for a while longer I guess.
$30-$40k should be the average. Not $47k. Even $40 seems insane to me.
20 25k , the only reason car prices are so high is all the electric crap, bring back crank windows, do away with touch screens and add old school radios, ditch the electric mirrors and seats
@@joshuatracy4829 Based on what you can buy the replacement/repair motors, mechanisms, etc for in the aftermarket, the things you're talking about (besides the proprietary touch screen which is only expensive because the OEM is the only source), otherwise that's only $2K worth of legitimate value added features.
However I am in agreement that I don't need many of these features, and that I much prefer normal, ergonomic, and inexpensive to repair, mechanical controls over using a touchscreen for vehicle functions.
Electric mirrors though, are a necessity. I mean the photochromatic ones that darken when some tool with excessively bright headlights, feels the need to tailgate and blind me if my mirror can't auto-dim.
All I buy and have ever bought....for myself (not my wife), are trucks. My current 2019 F150 XLT 4x4 I purchased used with 10K miles in 2020, was $26K, with a trade-in of my paid off '08 Tundra 4x4 w/ 130K miles..that got me $10K OFF the OTD price. That was the LAST, GOOD deal I got on a truck.
If I were to go buy a new comparable truck today....they would have to be probably around $35--$45K MAX for any top of the line truck model. F150 Limited. Ram 1500 Larimee. Tundra Supercab. Etc. MAYBE $50K! MAYBE....depending on what it has in it.
I, nor many middle-class working men and women out there who buy trucks, are under any misconceptions about how the cost of manufacturing everything, have increased. Especially post Covid and Biden. However, the drastic increase in vehicle prices and the length of loans to be able to finance them, has gotten way out of control....all because of GREED!! And apparently it's starting to rear it's ugly head...and I hope all of the car manufacturers get a good, hard sour dose of their own medicine...and it gives them diarrhea!
Keep up the great work you 2! I love watching your videos and have been a proud Car Edge member for more than a year now. It has helped me tremendously. God bless!
I would have kept the Toyota.
@@hokie9910 08', nah
@@lesbolstadRight, because Ford is known for Quality. I left Ford trucks and SUVs years ago….I’m a much happier man…as is my wallet and my sanity.
@@lesbolstad 08 Tundra was awesome, definitely would have kept it. 130k miles!? It would have outlasted the 2019 F150. And in 20 years the 08 Tundra will be worth more than the '19 F150 but it got traded in for $10K!? Where I live there's '08 Tundras with 300k miles selling for $10k.
Biden has nothing to do with the GREED of corporations. Get your head straight. Presidents don't control the market. Consumers do. If consumers continue to pay high prices for goods and services, companies will continue ripping people off.
Simple suppy and demand. Not anything to do with who is running the country.
WAKE UP
BALK at paying $15 for a sandwich or over $40k for a truck or car to get one from point A to B.
I recently looked at new Nissan Frontier, only to see what I will be looking to buy used 5 years from now. I'm 60 and have never bought a new car from a dealership.
Between buying prices, fuel prices and the cost to borrow money... many "normal" people in the working class can't swallow a loan on a $60k or $80k vehicle.
But luckily for dealers, normal people are very dumb and they will do it anyway like they have been doing for the last 20 years.
You forgot insurance on a new car.
It’s not just price. The inability to buy a quality vehicle without a bunch of unwanted and unneeded tech like blindspot detection, lane management, trailer backup, adaptive cruise control, etc, means it is better to keep repairing and repowering existing vehicles than to enter the new market. More technology doesn’t mean more desirable to all buyers.
I’ve been in the tire industry for 17 years. Delivering all sorts of tires. Prices are still up. A Honda accord is about 40k. Madness and it sits there.
A basic mistake made by car manufacturers. Everyone rushed to produce "luxury" cars. Luxurious in name, equipped with electronic gadgets that are practically not used. The mistake is the lack of production of vehicles for ordinary people without these fancy extras.
People weren’t/aren’t buying ordinary sedans enough to make them profitable, so they quit making them. There are a few left. The small ones, Mirage, Versa, etc., are going away next year. My cars are paid for. I will make them last as long as I can!
The first automaker to bring those 'luxury' features to the basic trims at a price people can afford will be dominant.
Well kinda, but they are going to have luxury prices regardless due to costs and regulations. They can't make a car for less than $20k, it's just not possible. So what are they competing against? You can pick up a used car for $2000 that has "luxury" features but was made 20 years ago. Everything still works on it. So who is going to pay $20k for basic when luxury used is only $2k?
Similarly to how most new homes and apartments being built are 'luxury' units. Thinking there is an unlimited supply of rich or financially stupid.
and the cost to build delta between something barebones and something comfortable isn't that huge
There has never been a Dodge ram truck worth $70,000. It will rust out completely within your first five years of owning it and then the motor will shit out.
What about the transmission
Yes dodge has always been a lemon now they want champaign prices, WOW
@@HHI455 thats funny... ive never had a dodge that didnt live to see its 20th birthday... i currently have a dodge in my driveway thats about to celebrate 50 years and guess what its a numbers matching car... and a chevy truck thats numbers matching about to celebrate 40 years... you 3 just need to say you dont know how to properly maintain a vehicle rather then being disingenuous...
@@angelusmortis3256 My Pontiac is now 57 years old runs like a scalded dog. And a Powerstroke that is 21 years old also runs like a scalded dog. Wife has a 24 year old Jeep that the little things keep breaking on like heated seats, window regulators. switches and ac condenser that is what annoys me but the 4.0 runs great. I guess it put a sour taste in my mouth for Chrysler products. Growing up my dad had a 65 Dodge that had similar interior issues. I have heard from others about the trucks and many transmission issues. So i am out on the 70k or more Dodge truck.
Yeah if they remade a dodge truck with the 318, the best one they ever made it wouldnt be worth $70k
we have a 22 Subaru cross trek. just turned 40k miles. The backup car is a 59 rambler with 493k miles on it. both are dependable and get good gas mileage.not going to worry about car prices for a long time.
My dad had a’59 Rambler too. My brother took it to the drag strip and won in J-stock class.
Used car prices are insane as well…my daughter has saved 11k @16 y/o for her first car and all we can find are cars w/ 150k miles for that much or more. Remember when a used Honda accord with 120k miles cost about 7k?
I’m in the same boat with my son. People are hanging onto their cars b/c new is too expensive and borrowing is WAY too expensive
It's the same in other countries too! The used car market exploded during Covid, as the wait times on new cars coming into our country was upwards of 10 months. Plus, they wanted a rather substantial deposit to 'secure' your vehicle. Insane, and i'm glad it's going to pop personally. I miss buying a cheap car for the kids to learn in.
Between greedy manufacturers and crooked car dealers across the board, they are getting what they deserve.
I paid $26,000 for my Jeep Rubicon TJ new in 2004. I got home and got buyers remorse from paying $26,000. I asked myself : "What the heck did I just do".
Well, I still have the Rubicon. It has 150,000 miles and still runs great. New Rubicons like mine are $66,000. Now I feel i made the best purchase of my life when I bought the jeep.
When these big corporations got massive tax cuts in 2018. And all higher ups got massive raises. They started raising prices because of GREED!!!
Not only are they over priced, they don’t last either.
The tech is causing so many probs for new vehicles
According to a (highly) experienced tech (who has kept my '01 S10 ticking along for 330k miles on original 4.3): "Crap cars with junk parts."
China parts assembled in the usa
Great newsworthy information thanks for sharing
I plan on driving my 2010 f150 until the wheels come off. I don’t know if I’ll ever drive a new vehicle ever again.
Car prices need to drop by at least HALF of what they are currently. It is simply ridiculous that most people cannot afford even a basic new vehicle without having a 5-7 year loan or instead, get into the vicious cycle of leasing. Heck, about three years ago I bought a 2016 Ford Explorer with 100,000 miles on it and paid about $24,000 because that was the cheapest I could find one for! Absolutely insane that it has come to this kind of nonsense!
A Jaguar and Chevrolet dealership nearby is putting there overstock into an abandoned mall parking lot… it’s not getting any smaller
Went to nissan dealer to trader 2020 f450 with 50k miles on it they offered me 25k less than I sold it for privately, but also hiked the price of the frontier 15k over internet price. Needless to say I'd never shop there again.