The Auto Market Bubble Just Popped
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- Опубліковано 8 чер 2024
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THE CAR MARKET BUBBLE: Thanks to @CarEdge and @LuckyLopez777
The website CarGurus found that prices are down almost 1% in the last 30 days. The biggest decline came from none other than Tesla, with prices now 33% less than they were a year ago. It's also worth noting that - year over year - crossovers are down 6.3%, hatchbacks are down 9.14%, Wagons are down 9.79% and vans are down more than 10%.
THE CAR DEALERSHIP PROBLEM:
Because Auto Dealerships buy cars on loans, rising interest rates are causing their inventory to become significantly more expensive to hold than it was in the past. As a result, many of them are making much less money than before and very motivated to sell.
THE AUTO LOAN BUBBLE:
Many banks and lenders issued loans on cars that were selling much higher than they ever should’ve been, simply because demand was high, inventory was low, and money was cheap. But today, buyers are underwater by an average of $6000 when they trade it in - meaning, they owe $6000 more on the car than the car is worth.
CAR REPOS ARE INCREASING:
Bloomberg just recently reported that “Car Owners are Falling Behind on Payments at Highest Rate on Record.” According to Fitch Ratings, “The percent of subprime auto borrowers at least 60 days past due on their loans rose to 6.11% in September, the highest in data going back to 1994.”
BANKS ARE PREPARING FOR DEFAULTS:
Banks are now a lot more cautious about who they lend money to - this means that getting an auto loan is much more difficult today than it was a year ago. Auto Loan rejections are also occurring at the highest rate in 10 years, with banks now writing off some of their loans as complete losses.
According to CNN, “analysts predict that auto loan delinquencies will continue to rise into 2024 and peak at about 10% before they start to fall.” The bad news, however, is that car prices are still 33% more expensive than they were, prior to the pandemic - it's unclear if prices will fall below that level anytime soon.
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Here is a link containing the source material for each piece of research cited. I do my best to make my videos as accurate as I can, and the additional resources should help anyone who wants to look into them further - enjoy! docs.google.com/spreadsheets/d/1ZqGTRoT6bJquL-yzKL9W-smQL4416zmKz5lHFT0Rjbw/edit?usp=sharing
Why are you saying whats up graham its guys here?
Thanks for the sources!
What do you think about buying good and silver?
I do have to ask, do you plan on selling the GT?
All in good fun for the intro ;)
I personally know a few people paying $700+ per month for used cars while working 15/hr jobs. Financial education is really needed in this country.
They at least better be driving AMGs at that price!
That's like 30% of their income. That car better double as a home 😆
Probably live at home, all disposable
Amen!
How poor people stay poor
Graham, thanks for mentioning our content in your video. Zach and I appreciate what you do!
Thanks for the amazing content! Keep up the great videos, happy thanksgiving!
@@GrahamStephan I just purchased your "The UA-cam Creator Academy" Is this content still up to date as I guess it was first recorded in 2019 and we are almost in 2024.
Please let me know so that I can adjust accordingly. Thank you for all that you do.
You are inspiring millions of us.
2:10 just one correction, automotive manufacturers didn't get starved out of chips by other companies. Rather, it was a problem of their own making. For a little background, when you are a large purchaser, you typically order chip a year or two out to give the chip manufacturers time to adjust production capacity. In early 2020 the automotive manufacturers figured there would be a sharp reduction in the number of cars purchased, and immediately cut their chip orders for the following year. However, at the end of the year they turned around and tried to buy all they could, even though they had not provided the typical lead times needed. This essentially meant that their demand doubled in a period where they had previously told chip manufacturers they weren't going to be buying any chips, and as a result the chip stocks for common popcorn parts quickly ran out, sparking a massive shortage until chip manufacturers could catch back up.
If people keep paying these crazy prices then manufacturers will be sure to oblige and keep prices high. I blame the dumb masses.
I blame car dependency
@@hngldryk what, good point
@@hngldr no really, no every city has the same tipe of public transportation like NYC, but the real issue here is the fact that people don't know how fix anything, and they rather buy something different then fix what they have.
@@marcelonskty They all used to until we destroyed it. Every major American city was built on public transportation.
Also I have lived in all kinds of car dependent places and fixed my own stuff - it's STILL easier and safer for most people to learn to bike to work than to fix their cars these days.
In both cases though, advanced economies are built on specialization - you can't expect everyone to know how to fix everything - that's a foolish way to fix the economy. I am in favor of right to repair though, and while I know not everyone will bike (even people for whom it'd be great), it's critical that we have options. In the same way while it'd be idiotic to expect everyone or even most people to have high skills in something they earn nothing off of (knowledge of fixing cars even when that's not their job), I think it's critical that we don't have a society where it's effectively illegal for them to do so.
These things don't become like this just because "America is too big" or "cars are too complicated" - they were made unbikeable and unfixable on purpose, then history retold to make it seem like that was always the case
You guys realize the MSRP isn’t going up that much , but the greed from dealers marking up all the fees sending us all over 30% maybe more on dealer fees
What would be truly revolutionary is if old school mechanical vehicles that don't rely on semiconductors that you can repair yourself were built again for people who want low maintenance and don't give a sh$& about bells and whistles can have something affordable. This shouldn't be a difficult concept.
Never going to happen due to EPA regulations. the amount of tech R&D that went into building a car that goes from 35mpg to 40mpg is in the 100s of millions and to go from 40mpg to 45mpg is going to be almost double what was previously spent. Lower prices and easier to repair vehicles can help achieved but never will thanks to government regulation.
@@beefy45 That’s why we must vote.
@@beefy45my ex girlfriends 1990 civic got 45mpg, recent technology improvements aren’t about emissions or efficiency, it’s mostly cameras and sensors for “safety” (surveillance)
@@alw6589a 1990 civic is an outlier. He's right, regulations are going to phase out older cars.
@@brandonburns5365 there were tons of older cars with good fuel economy
Oddly, car dealerships are calling and texting me out of the blue after I reached out them early in the yr. I already made up my mind to not get a new car so it’s crazy.
I bought used 2011 camry 4 & 1/2 years ago, for 7k cash, with 76k mil. I've put 75k miles on it with new tires tire & oil change for maintenance. Car still going strong. Best car decision I've ever made.
Camry is a great car
This is great news as someone dying to buy a new car. Just have to keep being patient…
Love your videos, Graham!
Thanks!!
you should buy your own profile picture for authenticity
Can't wait to get a new 2024 corvette after the prices come back down to reality.
Same, i have been building my credit for awhile now too so ill be good in a bit
I’m so pumped to hear this news. I’ve been standing by and hoping for it 🔥🔥
One of the really big factors when purchasing a vehicle that people overlook is insurance! The biggest excuse for rate hikes is “inflation” from insurance agencies. This becomes a huge problem when all you’re paying attention to is the car payment amount per month. Suddenly your insurance hikes your payment and you start to understand you can’t actually afford that vehicle.
I remember paying 150 for full coverage 10 yrs ago. Now it's 220 smh....
And then there's registration....
@@juansantana7041I pay 275 a month for three vehicles under full coverage and I’m in Michigan which has a high rate for car insurance
When I renewed my Geico insurance policy again this year, my monthly payment increased by $40! I haven’t been involved any accidents or anything that would have logically increased my rate by that much.
Not sure what you are driving but full coverage with near 0 (was actually 0 recently) deductible on my RAM is only 170.@@juansantana7041
This video was talking directly to me thank you, Graham. I live here in Vegas ( Summerlin) I bought a 2017 Porsche Macan S for 55K in 2021 my thought was I was going to rent it on Turo. Once the Turo prices dropped I decided it wasn't worth it so gone was that idea. The note is $1000 per month and when I bought my business was making $10 -$15K month so it was doable until I had a recent mild stroke which took me out of commission for months. Now I am back on my feet but my bills have all stacked up and for the first time I am behind on my car note. Fortunately, I have another car paid off so if I have to give the car back I will have something to drive. I am going to try to negotiate like you said but Capital One arent the nicest when it comes to take so fingers crossed
You still owe the balance and will be sent to collections and or atty for suit. Why do you think it’s okay to just give car back
Its incredible you thought renting it was going to pay for it, if you have any friends with a much better understanding of financials i would go to them first for future purchases. Everyone makes bad money choices but you are going into extreme risk territory. Hope you recover!
I am smart enough to know giving it back as a voluntary repo is the worst-case scenario and I do not think in anything I wrote I said I think its a good idea. I am very proud of my 760 credit score but with medical bills and everything up on me I do not see another way out hopefully it doesn't come to that @@Mountainman524
I hope you’re doing better! Please avoid stress at all cost and take care!
Sorry to hear your troubles. Hopefully you can figure something out.stay focused
I love you my dude , your videos are inspiring for young entrepreneurs , however I see the last months almost all there is is catastrophology , everything goes bad etc but even in those times we are still 10+% than last year. I know bad news sell 10x more than good news ,but no need to make people panic
Sorry for bumping…..but Are you interested on how to really achieve financial freedom I’m just saying because I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
Liar
Been waiting years to replace my 180k mile vehicle, thankful this rediculous, self-created bubble is coming to an end
My 17 year old, 70 horsepower Ford fiesta would currently sell for the same amount of money I bought it for in 2015 which is wild. It has thrice as many miles on its clock and its exterior suffered a bit over the years (it drives better than ever before though, I'm making sure of that). Inflation is crazy.
Yea thats crazy...good for u. But bad for a prospective buyer.
All of that is very true! As head of finance for a bank, we are seeing a drastic, concerning increase in charge offs and repos. We just increased credit score requirements for loans too.
Had car for 21months forgot to add that in last text
Got cash for a hot rod 35g
My car got totalled during the bubble. I really hated looking for another car but I need a car to get around. Just ended up downgrading to a toyota corolla at 250 per month because all the SUVs were way overpriced. I thought that was bad until I hear people financing 1000/month for a car like wtf.
Not to mention the increase in car insurance especially in south Florida
You would have to thank big ronda and his high heels for that 😂😂
Loved the video and the info. Thanks! Also, there is another very important factor, especially for younger millennials; student loan payments just started up again two months ago. So now families are really feeling the burden of the extra loss of income per month. Especially in families where both parents have student loans. During the pause they got used to having extra money to pump into the economy through their day to day lives and many bought cars with that extra income. Now, they’re feeling the pain. We will see less people able to buy cars and other things that stimulate the economy in the very near future. We can expect more big companies to make less profits, cut more jobs, cut corners, and raise prices even more than they are already have.
and lo the cycle shall repeat, because the people in power are too corrupted by big business lobbyists to regulate the systems that perpetuate the problem.
Just need to wait for this to happen to home prices...
Another well researched report Graham.
Thanks!!
My household income is just shy of $190K I have a $1,140 lease on an AMG and even though from a 20/3/8 perspective I’m not far off, but won’t own it at the end. Never drive my car. Buying a car $15K cash after I return it. Not worth it. Done showing off that I can blow money on garbage
I drive an older BMW that i bought for 12k with 60k miles, I think it looks better than the newer ones, and it still has plenty of modern features I don't really feel like I'm compromising at all. Maintenance is probably a little more but with no car payment it's nothing I worry about
Great video! Would love it if you made one addressing the insurance industry where everything seems to be falling out of place as well.
Insurance is getting so bad, especially in California
@@GrahamStephan can you make additional video about insurance companies? I don't understand why I should pay almost $900 for half a year insurance for my 2018 KIA Optima from Progressive or Geico. Car becomes older, but insurance just going up each year.
It is out of control in California, even with perfect driving record
@andriik9943 Kia boys. Theft is high for kia and hyundai cars due to it being so easy to do for those vehicles. Its a literal step by step meme on tiktok. I just totaled an Optima at the bodyshop I work at and what they did to steal it can be done in less than a minute.
"Sales of fully electric cars rose 36.3% from a year earlier" - Reuters
Cars are a terrible place to spend your money. My 220k mile Prius was the best thing I ever bought. A new/used engine installed costs $1800. Battery aftermarket is $1200. My last one had 450k miles when the catalytic converter was stolen. It ran perfect. The car litterally cost me less than zero to own, I was rear ended and got more than the car cost. And it keeps on going.
I saw people buying cars like Teslas as “investments” claiming prices go up and I was just eye rolling. The car market is returning to normal trends and unfortunately the people who thought it had changed are going to get hurt.
Lmao I know a couple who did a heloc on their mortgage to purchase two model y’s at $65k each.
@@ChowTY42big yikes. Thanks for the pressure, current administration.
I think they confused “buying a tesla stock” with “buying a tesla car” 😂😂
As someone who owns a Tesla, if you bought that car thinking it’s not another form of a consumer electronic, I feel bad for you lol.
not good@@ChowTY42
One thing I'm interested in is whether mandatory emissions goals will start playing a role in this as well later on. Toyota is going full-hybrid on their 2025 Camry sedan line-up, which is on average $2400 more expensive than their cheapest gas-engine model, all while sedan sales have continually declined vs crossovers & SUVs. Higher insurance costs, taxes, & interest rates will price out a lot of people or make it harder to finance those purchases for people who want an entry-level hybrid or affordable car.
They did something similar(new emission standards ) in India, and car prices increased by 2-3%.
Some companies are starting to retract some of their full hybrid goals. I think it was Ford that recently changed one.
Is the Camry really going full hybrid? What a shame tbh.
The CEO of Toyota said a couple of months ago no more hybrids man. Unless he changed his mind.
@@isaacartavia6278I work at toyota. They never said that. In fact, we see moving into hybrid ONLY. All our models are going to be hybrid only soon.
You said, "What's up Graham, it's guys here" right off the bat. I'm in the market for a new(old) car. Thanks
Great job using Car Edge, I watched hundreds of their free videos and probably saved thousands negotiating with the dealer
I've been advising my friends and family to buy lower value cars over the last year because the current prices can't hold out. They are trying to sell cars for double the price they should be at right now. Luckily, there are several small suvs that have come on the market recently that shouldn't lose much value once the market tanks.
Towards the end of the video, Graham points out a common rule of sales that can also provides benefits in other aspects of life: it often doesn't hurt to ask if the worst outcome is that they may simply say "no". Additionally, you may be surprised how often they actually say "yes".
I'm just worried about the classic car market. I own a 49 Cadillac and two 1977 Datsun 280z's. I'm watching the value go up, but have noticed some of them have been selling a little less than what they were going for this time last year.
I think these types of vehicles will continue to go up in price since most people who want to buy these cars are actively seeking out these cars.
U r now my financial advisor I like the way u talk
Nice to see you mention Zerohedge. Cheers, Graham!
When I bought my car the car salesman filled out the paperwork “for convenience” and said I was the manager (I wasn’t) and making $5 more an hour than I told him I was
Just bought a $9000 one owner accord with 70k miles as a DD. In my area they typically go for 12-13k with 130k miles, so it was a deal considering the climate. I wanted to wait, but old dd finally died.
This is the way to do it no car payments
@@adamotak5145 09 sedan
what year is your accord 70k miles goes for more than 15k in our area did you find it on facebook marekplace?
@@adamotak5145 2009, owner barely drove it. Surprisingly no, bought it a Honda dealership in one of the most expensive parts of California.
This is funny, when one buys an accord, u don’t need to tell us it is a DD. What else could it be?
Im very close to defaulting on my truck. Went and found a higher paying job to compensate but everything else increasing gobbled up my extra income. Times are tough.
We have been talking a lot about what’s happening in the auto market specifically how this affects the used market! Things are shifting, things are correcting! Now is the time to educate yourselves so you know how to be prepared. Great video!
It makes me happy that we pulled my daily out of a field kind of a ‘if you can haul it you can have it’ and it works just fine after putting money into it.
Trucks similar to mine are selling for $5,000-10,000.
Look for the bottom of the barrel and learn how to fix it and you can avoid paying insane money for a depreciating asset.
(Truck: 1995 dodge 2500 4x4 v8 gas) KBB rates the truck my way lower but the market speaks for itself.
Speaking my language with this one, my man 🤘🏼😎
Thanks, Seth!
I keep saying I'm going to upgrade my work vehicle but it just keeps running and running, and I can't convince myself to spend a small fortune on a dumb car... Newer car prices are insane
Thanks for all your content, keep educating we love it
I gave my car back the first week of covid lockdown 😂. Credit has recovered and I drive a paid off hoopty! best decision I ever made.... Never getting another car note 😅
Thank you Graham.
Your right! Banks would rather work with you then to lose out. I did that when I was going through my divorce. But you have to be convincing about not being able to make those payments.
Got remarried?
This is especially confusing for someone like me, bc it certainly feels like i havevmore obstacles to surmount than the previous generations, financially anyway!
Nice job. I need to replace my car in the next few years and will do so when conditions warrant. Your article was quite informative,
Love your videos man. You always put so much work into your research and it shows.
Need to say the Corolla he posted up was a Corolla GR, which is the AWD turbo hot-hatch version and around $40k MSRP. It’s a special car, so don’t think he’s talking about a basic new Corolla.
“Drive out ahead”
Definitely made me grin 😊
Keep up the great content!
Yup, used to stupidly trade my vehicle in every year... No more, now that my vehicle is 10K higher now with less quality I plan on keeping it, I paid it off in two years, and have had no car payment for over a year!!
finally, used vehicles are at such silly prices right now. as someone who resells vehicles this isnt much if a problem because selling at lower prices isnt a problem if i buy at a lower price.
You cant even buy a 20 year old shitbox for less than 5k
@@jasondinnerhonestly bro. Let me drive get one without paying an arm and a leg for a 1990 civic
@@ukrainium_92 its insane now. In the 90s and early 2000s ive bought multiple quality cars for $750. All VWs actually
"Best performing asset since shorting WeWork" was hilarious. You got my like.
0:00 “What’s up Grahm it’s guys here” 😂
@GrahamStephan I just purchased your "The UA-cam Creator Academy" Is this content still up to date as I guess it was first recorded in 2019 and we are almost in 2024.
Please let me know so that I can adjust accordingly. Thank you for all that you do.
You are inspiring millions of us.
Part of the price problem with cars is not just the chips and interest rates but the decision to start pushing electric cars and get away from building highly fuel efficient sedans. My 1995 Saturn SL got 47mpg on the highway and about 37mpg around the city. That car is nearly 30 years old! So, why is the push for electric??? Now, you can only get a Malibu from Chevy and Ford has no sedans. The closest thing you can get is an expensive suv which also is no where near as fuel efficient.
Hybrid Camrys get 50 mpg. There are other hybrid sedans in the same range.
"artificially low inventory" meanwhile there's miles and miles of parking lots filled with unused, brand new cars that weren't being sold because the dealers wanted more than they should have been getting.
There was never a low inventory, they were just juicing out as much money as they could.
In Wayne Michigan, across from the Ford plant, the dealership is full and parking lots down the road are full of vehicles with sales stickers on them
Great coffee! Interesting video!! Thank you!!
Thanks for providing well thought out and researched content. Congratulations on all of your successes. This channel inspired me to create my own.
Great to hear! Best of luck!!
@@GrahamStephanThank you!
I truly don’t understand, did banks not see this coming? I get they made their money on the interest for the past couple years, but now if they’re stuck with a repossessed vehicle that’s worth less than what the loan was for, it’s all a loss. You think they’d be better with money and not approve anyone with legs for a car loan…
Doesn't happen like this. That's why there are subprime lenders and still, not everyone gets approved
Not necessarily. They take the vehicle and sell it at the auction. If the car is about 50% through its financing contract they make money or break even when they sell it. They more so lose money in when a vehicle is reposed with in the first few years
The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market precisely when the news is most negative and investor sentiment reaches its lowest point. I came across an article highlighting individuals who achieved profits of up to $150,000 during challenging market periods. Considering this, I am curious about the best stocks to purchase now or add to a watchlist.
still hasn't popped here in Califonia..... Damn, i can see all other states car prices are slashed like crazy.
thanks for making all these helpful videos man.
I'll always remember what a realtor told me one day who has made millions off of the housing market recently, she said, "You know how much homes are worth?" I said, "A lot," and she said, "No, they're worth what people are willing to pay for them"
So who really sets the market? The business? Or the consumer?
Sorry for bumping…..but Are you interested on how to really achieve financial freedom I’m just saying because I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
"Anticipating certain borrows aren't going to pay their loan" if certain borrows werent allowed to get the loan in the first place we wouldn't be in this mess.
Not necessarily
@@rjm809 I am sure atleast 90% of bad loans, either the salesperson or underwriter knows it's going to happen. It's just like watching a coworker screw something up and envisioning it before it happens.
I have bought quite a few cars and 100% of the time they are always trying to pad either my income or how much goes out, in order to make sure they sell the car. I have a credit score around 800. Never defaulted on anything, no delinquent payments, make good money and my bills aren't outrageous. I'm not even buying expensive cars. I have never bought a car over 20k.
Your content is great GS.
I've been seeing in my world. It started Jan 23. I work in tag and title and banks have been sharks. Making sure they are listed as lien holder. If they are not and title was done wrong they will not hesitate to make the dealership buy the loan back.
Watching that guy toe the Stingray rear wheels down was brutal
The Vans joke was top tier
;)
I love when I get mail or emails from the dealership since I own my car and the only owner of it. Trying to tell me my car is worth 7-8k but when I look up a used one on their website they're selling the same car in worse condition for 15-20k. Does this mean my car is worth 15k or 7k? Why would I sell it?
In the UK some insurers are refusing to insure used electric vehicles.
I have a 2005 Yukon that I bought that yr & it only has around 140k miles on it. I work remote & get out only on the weekends. I will keep this vehicle as long as I can find parts.
Or afford gasoline 😮
My Dad bought one new in 2000, My brother has it now, pulls a big boat trailer, and is his weekend ride still runs and looks good!
Didn't car prices go up and now going back down. Isn't this more of a correction for prices?
Partial correction, yes. Too little too late for many people desperate just to get to work.
Nonsense. Car manufacturers actually cancelled much of their orders after COVID hit, expecting people to stay at home and not buy cars. That didn't happen, especially given all the stimulus money. Chip makers can take upwards of 1 - 2 years to fulfill orders and even a few month just to complete all processing of a single wafer, making the car manufacturers' moves very short-sighted especially since their new orders went to the back of the queue.
Today's drop in vehicle prices is the inevitable consequence of chip manufacturers just now catching up on OEM demand.
Personally my favorite UA-camr, always authentic and it shows!
No it didn't. Not until prices are down 30-50%. Trucks are still 80-100K
One more scenario - you bought a car in 2021 and it gets totalled. The sane car now costs 30% to 40% cheaper. If you didn't have a gap insurance, you're stuck with paying that loan off after the insurance covers your total loss at the current values. Lesson learned - get a gap insurance :)
You can also get like vehicle replacement coverage even if you own the vehicle. We pay cash for ours and we get like replacement insurance
Whoa that’s some 4D chess, I wonder how many people went this route
It keeps on popping every week dayum... massive pops
As a car salesman…it’s worse than you could ever imagine, every single person I’ve talked too is BURIED in their car loan.
Maybe talk to people who actually bought their cars instead, or is the concept of buying something and owning it not possible in the US?
Cars aren’t investments but you can definitely choose a car that will depreciate less than others. Typically buying a Toyota will help you retain the value of the car over a longer period of time.
Sometimes You just got appreciative how smart graham is.
Sorry for bumping…..but Are you interested on how to really achieve financial freedom I’m just saying because I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
I’ve been watching your channel for a few months now and I just wanted to say thank you 🙏🏾 the information you’ve given is amazing but more than that the book recommendations you give have changed my life. Most UA-camrs like to gatekeep knowledge especially if they become popular and you can only wait to see if they’ll mention something off hand by accident to keep themselves as the only subject matter expert to their audiences. But you tell us what you did, how you did it, why you did it and what you even read to help us. I appreciate the knowledge and you deserve all the success you have thank you so much for spreading the knowledge and love.
Nothing in current events is ever nearly as good or bad as anyone describes. This, obviously, is no exception.
You inspired me to get my real estate licence!
Amazing!! Best of luck! :)
Wrong time to get I to real estate!!!
You can’t even spell “license”…yup, you chose the right field
I recently inherited almost $500k. I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job . All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.
Yep great question and that’s always the one - where would you rather be if you have an option. Personally I’m always invested aside from a small emergency fund. Financial-market for me seem the only way forward with my long time horizon (accrued almost $1.4m in gains since 2020 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe! . Just know the risk you're comfortable with . Mistake is expensive
very informative, one option I suppose is, if you were to invest a set amount buy the whole share in a ETF and the remainder could go into a index for which would allow you to purchase the fractional shares, is that an option?
well a million in profit is a nice milestone, how did you achieve that? I guess you have a proven trading strategy that you've spent a lot on please share more info !! and YES I dont want to make
Lol, I began with an Advisor by name Camille Anne Hector. She’s sec verified and an ISDA member. Her approach is transparent allowing total ownership and control over my portfolio and fees are very reasonable in comparison with my ROI.
Found her website easily it was like the frist thing that came up when I searched on her name and also her mail address I will surely touch bases with her to see what's the best step for me to take rn. THANK YOU.
I have a paid for fiat 500, and I'm so ready to have a car that I can fit groceries in the trunk, but prices are still higher than I'd want to pay. I definitely won't go into debt for a depreciating asset. Hopefully, cars will continue to keep dropping next year.
Good, hopefully people will realize that they should just buy an old reliable vehicle. But I doubt that will ever happen on a larger scale
Men I gonna keep a long relationship between Me the Truck and my mechanic like forever
Yep!!
"What's up Graham it's guys here" Nice intro 😂😂😂
Ha thanks ;)
Thank God. Now all of us car guys can start paying reasonable prices for cars we’ve known aren’t worth it for the last couple years.
One thing forgot to mention is that if your car gets repo'd, you still owe whatever leftover debt there is on the car. If you cant pay off the debt, they might start garnishing your wages to get back the money.
Are we expecting a return to paying less than the MSRP for the out the door price? How long will it last?
Eventually, I think so!
Of course MSRP is a fabricated number in its own right.
Don’t go to dealer that has add ons or market adjustments. There’s plenty of them. I sell new cars for a Chrysler dealership. We have factory rebates just about everywhere month and only sell at msrp. A lot of our vehicles have 10% off msrp from the factory. Which would bring you below msrp. We also have financing incentives from the factory at 2.9 and 3.9%. There’s always a monthly incentive on new cars from their factory. Just not for every model every month.
The "good old days" b4 COVID. You could get an F150 XLT for 20% off of MSRP (plus tax) with dealer discounts and factory rebates here in Texas. Now the Manufacturers have gone crazy with raising the MSRP's to the stratosphere, the dealers marking them OVER MSRP and no factory rebates/incentives are available. I will continue maintaining my vehicles well and driving them with no payments until things come WAY down.
I can’t believe Grant didnt cover the rise of insurance premiums! 👀
Graham is a world class communicator!
Shoutout for publicizing CarEdge! They are the best... revolutionizing ethical, haggle-free car-buying.
UA-cam has gotta do something about the spam in comments. This has been going on wayyy too long
Agreed. I've never seen it THIS bad...just deleted over 100 spam comments.
I bought a used 2018 Kia Optima with 30K and all the bells and whistles for 22K in 2021 at a rate of 4.5 apr. Now that car is worth more now but I am just going to keep it. I put at least 18K miles per year on it now it has 72K now. Great daily car.
Nice!!
Cool story bro
Hey genius
@@thehonesttruth8808 you’re welcome.
@@mrxiong2567 hey genius.
Got paid bank earlier this year for my 2018 Tacoma TRD Pro, traded for an Alfa Romeo with 50% equity, half the miles, and went from like $850/mo to $340/mo car payment. 😂. Yes it has dropped some too but it's gorgeous, gets better miles and is a blast to drive.
As someone who sells affordable, this makes me glad
I’ve noticed that you have opened up your videos with “What’s up Graham, It’s Guys here.” It’s been said backwards a few times. I thought it was a mistake the first time it was done but it’s been several videos now.
Love the content!
Thanks!! It’s all done in good fun!
He’s been doing this for months!
Get decent credit, find a credit union and buy an older Toyota or Honda with relatively low miles from some old couple. Don’t let dealerships take your money.
Yo dealers gotta survive too bro. They're a business as much as your walmart. And they service your vehicles. Rip off dealers.... expect your menial auto services to become like trying to get into a VA hospital. Take out auto dealers and their service centers and you're gonna be fucked, as well as everyone else, no cap.
As someone that has sold vehicles don’t trust KBB as typically these prices are outdated and don’t update quickly.
*has keyword. Jd or nada may be slow, but kelly releases a new, changing value every week. I'm booking vehicles all day every day
Always loving smashing with you! The like button that is!
Thanks!!