Yes it is, dealers can't afford to cut prices by 20% or so more.lots are totally packed, dealers are refusing any more allocations, combined with a totally broke average person combined with completely collapsing credit availability. Dealer floor plan financing cost that they pay on outstanding inventory is bankrupting dealers.
@@DanGilliland-pi4vh Hit the nail on the head with the floorplan financing. Across all dealer industries, dealers are refusing units from manufacturers.
@@justl1234 Nice! They have a strong market with young people for some reason. I am a healthcare traveler and I am really needing more cargo space for stuff. After shopping around here, I’m currently in El Paso, I decided I’d be a fool to get rid of that car. Never even been in the shop and has 259,000 miles. Currently shopping for small pull behinds, just below taxing requirements.
I agree that Toyotas depreciate less but the issue is that many Toyotas are still sold over MSRP due to low supply and high demand. For example here in Dallas, most new 2024 Toyota Corollas come with 2-3k in pre-installed accessories (installed at port by Gulf Toyota distributor) and so you end up paying over MSRP. Since Corollas are in low supply (26 day market day supply in May 2024) and high demand, it's very very hard to negotiate the price down. So when you pay thousands over MSRP for a basic Corolla LE, does the lower depreciation make much of a difference?
I received a written offer for a Camry LE for $31,500 yesterday. It had a $1k manufacturer's discount but was still about $2k over MSRP. I have 2012 and 2018 models and could just drive them for another 6 years or so. So I'm just taking my time. I started shopping in 2022 when there just weren't any - you put in an order and hoped to get one eventually, at a much higher price than you were looking for.
Though the Corolla is no doubt a quality car I think the Mazda 3 beats the hell out of the overpriced Corolla. Mazda’s quality rivals Toyota and Honda’s lately. The Mazda has a bigger, more powerful engine, a conventional automatic transmission (not a CVT) and is just prettier and more luxurious than the Corolla. You can probably get the 3 below msrp too. I’d tell the Toyota dealer to go pound sand and check out Mazda.
@@jayson657 The MSRP on the Toyota Corolla is $22,050. The MSRP on the Mazda 3 is $23,950. But I think that the actual Corolla that you can buy is actually a lot more expensive. My local dealer usually has a few of the really expensive models in the lot but they never have the Corollas, Camrys and RAV4 models that are a ton more popular. I've been driving Toyotas since 2000 and I've bought at my local dealer and have had the cars serviced there and it's been a great relationship. They can get me in for service quickly if I ask. So I'm inclined to just stick with them. Their cars are super-reliable and low-maintenance. The thing is that I can just keep driving my current cars until the economy weakens enough for even Toyota to provide steep discounts. This is the first time in three years that I'm seeing discounts, even if they are off higher prices because of added equipment. It's a good start.
If you’re willing to search there are dealers with discounts in most toyota models. Usually the big cities have terrible pricing. The small towns usually have better dealers.
Excellent video, I am a subscriber and very much enjoy your channel. Could you please do a similar video for the mainstream full-sized picks and on whether it might be better to lease or buy in those in the current market. Primarily interested in your analysis of the F-150, Silverado, Sierra and Tundra. I am sure there would be many viewers also interested in your analysis. Thank you.
I have an amazing record of never losing even a single cent from depreciation. I buy a sensible family car and I keep it till the wheels fall off. Wow! What a difficult concept, eh? :P Alas it would only make a 15 second video and not sustain a whole channel, but hey.
That is certainly the most cost effective way to go, but if you are really into cars, it isn’t very interesting or satisfying. But you are totally right! 😊
@@rjb9715 For most people cars are a tool to get from point A to point B in relative speed and comfort. I understand that for some people cars can be (much) more than that, but in that case you veer into the land of hobbies. And hobbies are usually expensive and not really a matter of fiscal responsibility. Others might view it as a status symbol. In that case if you DO have the money for a status symbol, then why would you ever worry about how much it cost? If NOT, then you shouldn't have bought it and the only status it symbolises is that you are not good with money :P
Ill disagree with even if Toyota is half as good as it was... Nothing is better. If you want a 200k car you still get a Camry. If you want a 300k truck you get a 4Runner. Yes the old school non turbo versions
Hold out until Q4 if you can. Another 3 months of dealerships with full lots of cars but no customers might change their minds.
The car market is NOT crashing! I don’t call slightly less ridiculous prices a crash.
Yes it is, dealers can't afford to cut prices by 20% or so more.lots are totally packed, dealers are refusing any more allocations, combined with a totally broke average person combined with completely collapsing credit availability. Dealer floor plan financing cost that they pay on outstanding inventory is bankrupting dealers.
@@DanGilliland-pi4vh Hit the nail on the head with the floorplan financing. Across all dealer industries, dealers are refusing units from manufacturers.
The 2024 price I’m seeing on a 2013 Civic is the exact number I paid back then. Inflation is crazy.
I had A 2001 civic with 160,000 miles I sold it to my lil cousin for 1000 dollars. They’re selling for over 3k rn crazy
@@justl1234 Nice! They have a strong market with young people for some reason. I am a healthcare traveler and I am really needing more cargo space for stuff. After shopping around here, I’m currently in El Paso, I decided I’d be a fool to get rid of that car. Never even been in the shop and has 259,000 miles. Currently shopping for small pull behinds, just below taxing requirements.
Toyota Stealerships sell over MSRP. Sorry, no to Toyota this year!
I agree that Toyotas depreciate less but the issue is that many Toyotas are still sold over MSRP due to low supply and high demand. For example here in Dallas, most new 2024 Toyota Corollas come with 2-3k in pre-installed accessories (installed at port by Gulf Toyota distributor) and so you end up paying over MSRP. Since Corollas are in low supply (26 day market day supply in May 2024) and high demand, it's very very hard to negotiate the price down. So when you pay thousands over MSRP for a basic Corolla LE, does the lower depreciation make much of a difference?
I received a written offer for a Camry LE for $31,500 yesterday. It had a $1k manufacturer's discount but was still about $2k over MSRP. I have 2012 and 2018 models and could just drive them for another 6 years or so. So I'm just taking my time. I started shopping in 2022 when there just weren't any - you put in an order and hoped to get one eventually, at a much higher price than you were looking for.
It's shocking to me that car scalping is still legal anywhere. The US is truly the land of business over taxpayers.
Though the Corolla is no doubt a quality car I think the Mazda 3 beats the hell out of the overpriced Corolla. Mazda’s quality rivals Toyota and Honda’s lately. The Mazda has a bigger, more powerful engine, a conventional automatic transmission (not a CVT) and is just prettier and more luxurious than the Corolla. You can probably get the 3 below msrp too. I’d tell the Toyota dealer to go pound sand and check out Mazda.
@@jayson657 The MSRP on the Toyota Corolla is $22,050. The MSRP on the Mazda 3 is $23,950. But I think that the actual Corolla that you can buy is actually a lot more expensive. My local dealer usually has a few of the really expensive models in the lot but they never have the Corollas, Camrys and RAV4 models that are a ton more popular. I've been driving Toyotas since 2000 and I've bought at my local dealer and have had the cars serviced there and it's been a great relationship. They can get me in for service quickly if I ask. So I'm inclined to just stick with them. Their cars are super-reliable and low-maintenance. The thing is that I can just keep driving my current cars until the economy weakens enough for even Toyota to provide steep discounts. This is the first time in three years that I'm seeing discounts, even if they are off higher prices because of added equipment. It's a good start.
If you’re willing to search there are dealers with discounts in most toyota models. Usually the big cities have terrible pricing. The small towns usually have better dealers.
Buy no car now. Wait until at least the end of November.
The Tundras will be coming down hard in a few months...
Just bought a Mazda CX-50 select nice SUV for price point.
I don't see UK used prices shifting, if anything they are going up as new car prices have increased.
Excellent video, I am a subscriber and very much enjoy your channel.
Could you please do a similar video for the mainstream full-sized picks and on whether it might be better to lease or buy in those in the current market.
Primarily interested in your analysis of the F-150, Silverado, Sierra and Tundra. I am sure there would be many viewers also interested in your analysis.
Thank you.
The new tundra has the most unreliable engine right now
So the cars in demand that didnt get affected.. got it
I’m enjoying your videos. Thank you for the deep research.
which site gives this detailed price indexes graphs?
How do you get access to this index?
Toyota no longer the economically sound brand. They’re no different from the other’s.
Don’t buy , wait till they build up inventory.
Toyota makes me consider Subaru these days
Honda os tops and always has been
256,000 miles 2012 Camry
2008 camry 265,000
Nice 😮
@@TheRealAriLove hi
somebody looks extra cuddly in a new sweatshirt!!! 🥰🤗
My problem is I am a GM guy
Not crashing
I have an amazing record of never losing even a single cent from depreciation. I buy a sensible family car and I keep it till the wheels fall off.
Wow! What a difficult concept, eh? :P
Alas it would only make a 15 second video and not sustain a whole channel, but hey.
That is certainly the most cost effective way to go, but if you are really into cars, it isn’t very interesting or satisfying. But you are totally right! 😊
@@rjb9715 For most people cars are a tool to get from point A to point B in relative speed and comfort. I understand that for some people cars can be (much) more than that, but in that case you veer into the land of hobbies. And hobbies are usually expensive and not really a matter of fiscal responsibility. Others might view it as a status symbol. In that case if you DO have the money for a status symbol, then why would you ever worry about how much it cost? If NOT, then you shouldn't have bought it and the only status it symbolises is that you are not good with money :P
You are exactly right! Wise person. 👍🏻
To much talking get to the point.
Whatever you can afford
Toyota and Honda are way over rated.
Call a car a horse without calling a car a horse.....
Toyota is overrated in my opinion. They used to be better than everybody else but not any more.
Ill disagree with even if Toyota is half as good as it was... Nothing is better. If you want a 200k car you still get a Camry. If you want a 300k truck you get a 4Runner. Yes the old school non turbo versions
What makes you say this?
@@lazstan who wants to keep a vehicle until it has 300k miles of stank and decay?
So what do I buy
@@RonaldosCat Mazda
too much data, graphs and integral calculus. I'm switching channels ro Dare Wears bikini haul
LMAO, the premise is flawed, the whole video is pointless. waste of time.
This is how it presents itself?
Sad.
Americans😂🤡
@@HelloWorld24-7nah mate yours look like your sister is your lover
Toyota has been screwing up in many ways in the past few years. Not impressed with the direction they’re going.