The ECONOMY IS COLLAPSING And The Car Market Is SCREAMING IT!
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- Опубліковано 30 чер 2024
- INSIDE The Car Market APOCALYPSE! INFLATION IS KILLING OUR ECONOMY!
Thanks to all the creators that helped me with this one!
Mark- / @markholubetz
Zach- / @caredge
Michael - / @michaelbordenaro
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
And make sure you don't forget to LIKE, SHARE AND SUBSCRIBE FOR MORE!!
*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices - Авто та транспорт
$126,000 for a new Lincoln Navigator!? I paid $129,900 for my brand new house in 2017.
I still cant believe that someone would pay that kind of money... for a Lincoln?
How much is your house worth now? Prolly the double.
Nothing like buying a house made in Mexico, thanks ford
@@yarmus718There are boomers that buy it
It’s only 300 a week
I love my '04 Corolla. No payments. No headaches. Just maintenance.
Mine too. Thx.
Small easy to drive, you can do a lot of your own repairs.
People have no self control or common sense when they plunk down $100k for a car!!
Your diligence and restraint will be rewarded!
Smart move! Car payments are the dumbest thing ever invented. It can wasted millions of potentially invested dollars.
That's going to be the norm. I'm a six-figure earner with no bills and a paid off mortgage. The newest vehicle I own is a ten year-old car that I commute in.
I'm terrified at what I think is coming even with what I've accomplished. I'd be scared to death if I was 35 years-old with a mortgage and 30 years of career ahead of me. I won't be buying a new, or even a used vehicle anytime soon.
I’m a repo agent and business has been booming
Are those brand new vehicles?
Yeh heard that has been going on for a year or two now ... accurate?
@@bubbie3533probably used vehicles because the interest is higher on used vehicles rn
100 bucks says most them are either dodge chargers or nissan altimas. followed by Kias.
I heard even dealers are getting cars repossessed
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sharon Marissa Wolfe” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
You know what else I don't see at the ford dealership. Customers!
I literally said that out loud to myself when he asked.
yep I drove Ford for 10 years but especially in Europe they have nothing worth buying except the Mustang not only do we have 70-80k ranger and bronco but they nerfed the engines too you pay the american price but you get 100hp less marvelous
The dealers closed! 😂
survey says................ NUMBER ONE ANSWER!
🤣
My favourite is when you have to pay 90k for an F150 and then they still want you to pay monthly for the features already on the car (self driving). Fuck them!
Who in the fuck wants self driving? This I don't understand. Are we that fucking lazy that we can't drive our own cars?
That’s how they get you. And I’m still salty Ford marketed the bronco as being relatively affordable starting at 30k and then turning around and making most of them 45k+. I hope the greedy manufacturers lose millions for that.
@@chaoticoutdoorsmanso wanted that bronco after my uncles old 80s that i have great memories from. Jus can't afford these new trucks. 25k maybe 30k is the highest that is feel comfortable with. And that's the whole in general. Everyone feels this way. Cars shouldn't be this much. I remember u could get a 5.0 mustang for 25k to 35k. I should have bought them when they were. I think this was in 2015ish. Lol that's was the last time i went looking. Almost came home with a cts-v caddy
@@boneseyyl1060cause humans aren’t that good at driving cars after 100+ years.
I'm with you a 120%. Fuck Em!!!🤔
I was shopping for a new Honda CRV for the wife yesterday. Retail price was around $39k. The I saw the dealer was adding $4k worth of BS (wheel locks, some random battery warranty, paint protections etc) to the sticker. I told the sales guy there was not a chance in hell I was going to pay over retail. His response "sorry, we add that when they get here and cannot be removed."
See ya!
Hell, I'd pay extra for no wheel locks. Those things are so annoying!
Stick to used man 2005-2013 Honda crv or Honda pilot will last longer then any new vehicle.
I would stay away from CVT transmissions
Sure love my 2007 Honda Odyssey for $3000
The signs of hardship are everywhere. But government says economy is very good. It's very good only for the asset holding class. For everyone else it's ugly.
You mean the guys famous for having all the money have all the money, and not the poor immigrants with no money? Weird.
Too many companies took advantage of recent year shortages to jack up prices even when they didn't need to - banking significant extra profits. But too many consumers seem to have lost touch with the value of money and have seriously overpaid in certain areas - such as vehicles and housing. And that behavior allowed too many products to remain overpriced for everyone else. People need to look for more opportunities to say no - such as to all those huge vehicles that Brandon was walking past in this video. When I was younger, I was able to do plenty of work with cheap 2-door pickups with roll-up windows and I survived. I'm not sure what has changed over the decades, but it seems like banks have made it much easier for people to get in over their heads than years ago.
Pick up truck for a $100k. No way.
Tesla just delivered increase number of vehicle, something is telling after the clouds settles.
It will only change when it gets ugly for them too.
Don't worry, the corporations got their historic profits since 2020.
I’ve been a tech for 26 years. New cars are high tech garbage. I’d suggest to anyone looking for a vehicle to purchase something at least 15-20 years old. Tech is horrible, unnecessary and makes people even more dangerous behind the wheel than they already are, not to mention the repair cost and planned obsolescence (which is really what this tech is all about). How can it be so much cheaper from a manufacturing standpoint to create a tablet that controls everything in cars instead of a few dedicated units with actual buttons, yet car prices are higher than ever. Puny little 4 cyl turbo charged engines in full size SUV’s and trucks… Yeah that’s a recipe for disaster. It’s all junk, and people should refuse it until these manufacturers get their heads out of their asses.
I agree 101 percent. The problem is the government and an uneducated consumer!
Exactly... I won't own anything post 06 tire pressure crap and beyond government safety mandate junk. Laughing in work truck and a fist full of early 2k jap stuff
There are many cars with 2.0 turbo who are on the streets from 30-40 years ago.
I basically totaled a 2009 Nissan Sentra with 130K miles 8-months ago. I needed another vehicle right away and found a 2003 fully loaded Lincoln Navigator with 132K miles on it - one owner and in great condition for $5400. It's a beast and so far I've been real happy with it, aside from cringing at the gas mileage & bills.
Agreed except there are certain tech items that really feel safer to me, like blind spot detection, lane assist, and apple car play overall. Having had them and then lost them, they’ve been really missed while driving so now I’m getting a preowned model with those features back which will finally be my ‘till-the-wheels-fall-off vehicle.
Why weren't any of you guys talking about how for the past 5 YEARS ALL manufacturers STOPPED making cars costing LESS THAN $ 20,000?
Hey you, word up. I straight up didn't know that. I heard about something similar with affordable housing in Phoenix. Didn't know something like that was going on with cars.
@@1rstBorn -Word up ?
Because they are hype followers not forward thinkers.
@@1rstBornthere is no affordable housing in Phoenix, most homes are $450k or higher. My neighbor just paid $840,000 for their home
People didn’t buy them and opted for SUV instead!
Try getting a $100,000 new car loan. Banks won't lend it because they know in one year that vehicle is going to be worth half of that.
@@rleon8339 Very few ICE vehicles loose 50 percent in a year, EVs yes they do.
They actually are now, you must be behind on the data @@rotart12arx3
@rotart12arx3 im not a fan of ev, but internal combustion engine cars lose value also.
@@joescopo8933 Not as fast, and dealers will take them in trade.
@@joescopo8933 Not like EV and the chance of them going out of business like Fisker is very small. Those owners are doomed when their vehicles brake down and dealerships will not take them in trade.
I would rather these dealers go out of business before I pay those prices for a new or used vehicle again
@@russelbrown6275 it is also the auto unions and companies as well as the stock holders like Black rock and vangaurd
Bro, $105K for a DODGE DURANGO? Nah. GTFO.
Totally ridiculous
It's a joke. They're manufacturing inflation just to line their own profits.
Dodge Durango is probably the best vehicle..easily worth $80-100k
as soon as you thanks' its out they pull it back in
@@ah-yp6vp hahahaha
"You will own nothing and be happy" -World Economic Forum
Your neighbor also is responsible for the lack of ownership, they don't have to sell their home for more than they paid for it 30 years ago, but they will cuz they want money too.
*You own nothing and are happy!*
You can own a 96 month bank note on a $120K SUV you didn't need and now are $60K underwater on.
@@JustaPersonTryinToHuman365 And how the hell would they be able to buy something else, you are either very wealthy and completely out of touch with what the average american is going through or incapable of finishing a thought process
@@jaygee2002 I'm going thru much worse things than the average American, disabled mentally and pysically, I haven't had an income in 25 years, been surviving on the compassion of those around me so im not constantly homeless, haven't talked to my parents since i was a teenager, so I'm very out of touch with a lot of things...but I didn't say I had the answer, im just saying that your neighbor is also to blame for the problem.
What's really irritating is that they've moved so much of their production to Mexico where they pay their workers a pittance ($2.70/hr., 2024). (Before NAFTA, it was $6.25/hr. in 2012) while, as is their custom, they wreck the lives of the people in these small towns that work at their plants. It's truly evil what they do to their workers.. Life in Mexico is not cheap, like it used to be. Rents are high. Inflation, 4-5%. Making that small sum would force an auto-worker to get a part-time job just to make ends meet. I don't know how these clueless auto executives expect a worker to put their heart and soul into producing a quality product, especially cars with the technical sophistication that modern cars have. I read that in the U.S., about 32% of the cost of a car went towards materials and labor. The rest was profit. Now, they have the audacity to sell us an inferior product which, in many cases, can only be repaired at a dealership, long term drive train insurance policies, which they fight you on tooth and nail if anything should go wrong, and a 30% mark-up in price over 2 years, expecting us all to just quietly accept their greediness and allow it to become part of the status quo. The only thing these presumptuous thugs understand is money. They have the morality of a rattlesnake and should be boycotted into oblivion.
Nobody cares about your unemployment
@@WolfgangDee72 you are so Right on
NAFTA destroyed the working class. I will NEVER forgive the greedy #@@$# that pushed it.
FJBFKNPOS 👊🏼🇺🇸
@@georgeroiz8786 Right On!
They’re not selling because very few people got a 100% pay raise.
My local Toyota dealer wants over $50,000 for a Prius Prime. They can keep it until the cows come home. I'll keep my present vehicle until the wheels come off. Come to think of it, unlike new cars, I can fix my old one. Dealers can keep their new high tech junk that's impossible for non-dealers to fix.
Yes. Many cows love to party, and mostly don't return until well after the bars close.
That's just stupid. I've seen 2023 Honda Accords in my state selling as new for $49k. Ridiculous. I hope those stealerships rot.
50k for a Prius 😂😂😂😂😂😂
my 05 Corolla… repainted last year… 5 years ago fixed the radiator and AC. i didn’t know then it was a really good investment
f a prius get a 86 rwd something fun to drive or miata
Almost every new car, truck, and SUV is now priced as a luxury vehicle. Crazy times
News Flash: For poor people, automobiles ARE a luxury
@daveassanowicz186 not for the middle class.
@jacobarndt8567 the middle class poor?
@daveassanowicz186 the middle class are buying these vehicles that you are claiming are a luxury
@@jacobarndt8567yes, then many find out they can’t afford the payments.
this doesn't happen by accident. this screams centralized planning behind the scenes
@@oa9842 ok lunatic
I use to make over $100k a year under trump. In 2020, I rewarded myself by buying a 2009 silverado 1500 with 115k miles for $15,000. Guess what! Im still driving it with 194,000 miles and counting. DONT BE DUMB WITH YOUR MONEY FOLKS!!!!!!
@@jeffb321 You cannot teach them!
This disaster couldn't happen to a nicer bunch of thieves! I went to have an oil change at my local Gainesville, Fla Toyota dealership! When the oil change was done and the car was ready, they sent a young guy in to inform me that my water pump was defective! Now I only have 55 thousand miles on a 2008 Toyota Prius. I am 78 with two University degrees and I know what a defective water pump sounds like! Hum, me thinks! That's strange, but I didn't fall off the back of the turnip truck yesterday so I calmly asked what would that cost? $500 came the reply! I feigned distress and told the boy I couldn't afford that (I really can, it's chump change at my retirement income level) and left the dealership in feigned distress at this horribly expensive news! Needless to say I took the car to a local family owned auto repair shop and was informed there was nothing wrong with my water pump. I swore right then and there that I would never set foot in that Toyota dealership again!
Gatorland sucks
That's elder abuse... Like what they're doing to Joe briben.... If it was actually bad I'd change it for the cost of parts.
So you came here to brag about how smart you are with 2 degrees (wowweee!!)that you still had to get a mechanic to tell you about your water pump and about how your retirement income is so super high that $500 is nothing to you? You kinda sound like a dick lol.
I don't know about your specific model but my spouse had a 2008 Tundra and the water pump thing was a common problem. His vehicle only had about what your vehicle had on it for mileage. I can't remember what the issue was... I'm thinking during that era that the water pumps on many Toyotas leaked. Keep an eye on your coolant level. Our truck was dripping pink coolant on a belt. Back then it was a $1200 fix for that Tundra (dealership). It was very upsetting and Toyota should have recalled certain models since it was so common then. Look up your vehicle and see if yours is prone to that problem.
Had that happen to me. The dealership told me the engine mounts were almost rusted through. Not a spot of rust and 100,000 miles later still not rusted.
No more economic cars like , Escort, Fiesta, Focus , Taurus. Why ? Because you can’t charge $80-$120k for them .
Same with housing. They don't need to make product for middle class and lower if they can make their profits on expensive product for the high middle and upper class.
Costs them a lot less to make and sell one absurdly expensive truck than 4 cheap little cars. But they didn’t think it through long term and it will cost them in the end.
Try the Mitsu Mirage. Might float your boat.
Toyota Yaris is a very reliable vehicle, bring it back.
We were pleased with a 2002 cavalier. Build quality was much better than our 08 cobalt. Cavalier was under $5k lightly used. Year old Cobalt under $10k with less than 10k miles. No way I want overpriced high maintenance junk on the market today.
A lot of these cars are more expensive than most Mercedes lol. No joke
An income of $70k today is equivalent to minimum wage in the 1980. Let that sink in... It's not bc goods and services are becoming more valuable, but the $USD is becoming less valuable. When debt is money, this is the result.
Toyota is making a $10,000 TRUCK!!! But it's NOT FOR SALE IN THE US... WHY?????????!!!! Because the BIG AUTO MANUFACTURES IN THIS COUNTRY DO NOT WANT IT SOLD HERE!!!!!
That and because US charges 25% import tax on trucks
@@RomanVarlA $12,500 truck sounds fine, too.
@@RomanVarl Wait til Trump gets in. He will pile on even more duties!
Thailand has different safety standards than the US and the steering wheel is on the wrong side.
@@steven4315 auto manufacturers just want to sell more expensive products in US and make more profit, the reason is that simple
I'll keep my 2008 Lexus GX470 and 2005 Toyota Corolla. Both are still in premium condition and the best part, they are paid for.
And both will last forever. What a tidy little garage you have there.
1974 F 250 Highboy,2005 Nissan Titan,2004 suburban,1992 F 250 IDI 7.3..
I'm good, no thanks to that garbage can vcr on wheels ....
Toyota, Honda
No other car I will ever buy.
@@leoitani4921 That's you, and that's you. Let it be you. I have a need for what I have to haul my tractor,skid steer,and attachments also hauling debris after storm cleanups. Toyota doesn't qualify for my needs. I've owned Toyotas beforehand, the best one I've ever driven and owned was a 93 Camry wagon. Ugly, but a damn good grocery getter and theft proof ugly ASF. I wouldn't touch a Toyota ever in today's market nor a Honda. You may laugh at it, look around you. You will see nothing but GM,Fords getting it done to building people's McMansions,strip malls, pulling landscaping trailers, hauling repo cars from the driveway at 3 am.
No need to comment back, well good for you etc etc etc etc.
We haven't had a car payment for 15 years. Our cars are getting older but our auto insurance (AAA) increased $1k this up coming year. We have $ to pay cash for the next new car but the auto insurance kept delaying our decision for that purchase.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
As most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
This is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Elise Robinson” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
My Bro bought a Durango several years ago. Transmission went out right after warranty ran out.
So strange that all those $250K per year earners are NOT scooping up these AMAZING $100,000 deals?!?!?!!
I’m one of those. Both cars I have 2023 Ram /2024 jeep were paid in cash. I would NEVER pay 6 figures for a car.
@@johncpa9196😂😂🤡🤡
@@johncpa9196dang you are rich. We need you to pay more taxes so we can mooch off your hard work
Been waiting patiently for 3 years to buy something. Until then, will continue to roll with my 2004 Tahoe.
Just because you have money and can afford to buy a 100k vehicle, it doesn’t mean you should spend your money foolishly.
@@whereistheaccountability7353 Same. Driving a 2014 Subaru Legacy...would love to move up to an Outback to fit more stuff for my kids, but I'm not paying $30k for a USED Outback that sells new for $36k these dealers are out of their minds. I got my Legacy Sport fully loaded every option but leather for $25k...10 years later the price is up 30%? Wow.
I don't really give AF ABOUT the car market, it needs to fail. Its been ridiculous for a long time. Overpriced computers on wheels
Thank you for including other YT channels. After all, it doesn't take anything away from you, but says to me that I will find more value. Since I was aready a subscriber to Michael Bordenaro, I had no doubts about adding Zach and Mark.
I guess all that free money during COVID wasn’t so free after all. Well, at least a handful of millionaires got richer.
I paid $75,000 for my house. There is no way I would even think about spending those crazy prices for a piece of crap truck that will fall apart in a few years
Sure, try driving your house to work though
My pappy said, "Son, you're gonna' drive me to drinkin'
If you don't stop payin 100 grand for' that Hot Rod Lincoln"
I listened to that album a thousand times.
My dad loves that song. One of the only songs he can sort of sing well. Commander Cody I believe?
Is your last name Cody
Best comment.
@@gtbigdog3507
In high school my assistant headmaster was Commander Cody, and actual retired commander.
I think ford really messed up by stop making cars for the us market, not everyone is looking for big suv's and pickups.
True, but the reason they stopped selling cars is not because they didn't sell, more so because they make alot more on suv's and pickups
And they were junk. Chevrolet was the same with the malibu and impala. Junk that didn't last. Throwaway rental cars
LOL, that's where the profit is. Sell 1 car for 50K profit or sell 20 cars for 50K profit?
95k is not a sale! Dealerships got greedy and this is the outcome of overpricing vehicles, especially trucks where gas will continue to rise, regardless of who is President!
I offered $50,000 for a 2023 Dodge Charger scatpack widebody. They were asking $57,432. Manager did not make a counter offer. The car has been on the lot since July 2023. They are not desperate enough yet.
They're folding and going bankrupt. My heep dealership here did.
I just realized ...that I am subscribed to all of your guests in this video....I need to get a life. LOL
Pffft. I just realized, that I take the time to thumbs-up your lament of no life.
_[heavy sigh]_
Too true for many of us!
lol. I’m with you!😂
Me too!
🤣🤣🤣 no harm no foul
I dont care how you look at it peoples income have not REMOTELY kept up with the prices.. 33 years in jewelry business gold was 275..in 2001 now over 2300 today .. printing till infinity will put all of us in the streets
Well yeah, dealerships want to keep you in financial debts. I keep getting Moss Bros asking to buy my car back just so they can sign me up with a new one. I'm not terrified about dealerships going under, pound sand.
Not sure what’s sadder, the insane car prices or the fact that people STILL buy them crazy priced vehicles! They will never cut the prices enough for sane folks to buy them.
Don't worry those people are about to get their shit repossessed. Just a matter of time now.
@@bpb5541 Do those fools know that once the car leaves the stealership lot, it loses the inflated value INSTANTLY? In other words, if the fool bought a Honda priced at $29,000 MSRP and it was marked up $35,000 by the stealership, it drops back to $29K once it hits the streets?
They'll eventually have no choice but cut the price, fundamental law of Economics
@@nowayagain8141 i agree. And deflation is the dirtiest of all words in an economic debt based systems. Should be fun!
@@bpb5541how?? What if they’re working 2 jobs at Amazon and the other retail?
People aren't too broke. It that manufacturers prices are too inflated . They have priced themselves out of sells.
Exactly, I refuse to pay that much for a new truck. I would rather service and repair my old trucks
The most I’ve ever paid for a car is $27,000. There’s no way that I’m gonna pay $100,000 for a car. I make pretty good money also but that’s way too much for me.
Exactly, right. And the economy is not collapsing. You can't just look at one segment of the economy where greed has been rampant and throw out incendiary terms.
Exactly. People are buying used and cheap vehicles instead. When I see my local dealers, they have a whole lot full of trucks, but anything below $40k is gone fast.
No offense. But a collapse is unavoidable with the loss of the petrol dollar.
I’ll rebuild my truck twice before getting screwed over like this
Exactly. That's why I'll never sell my 02 Silverado. I can rebuild it at least twice with brand new crate motors and transmissions for the cost of a new truck. It currently has original motor, trans and rear end with 372k miles and doing just fine and is rust free. Plus, it's a rare body configuration for a half ton. Ext cab with full 8 foot long bed 4x4 Z71. Not common on a half ton at all and I don't even know if you can order one like that now. I've had offers from mechanics to buy my truck, but you can pry that truck from my cold dead hands. LOL
Dude, 80k used to get you a sweet porche, not just a truck.... Whos gonna want payments like that in a trash job market like today? Nobody
120k for a truck, wtf.. 😮
Let's be honest, vehicles are money pits... You get screwed on the interest, payments, gas, insurance, registration, tickets, and parking.....and the most costly.... Maintenance and parts...
Watch Beverley Hills cop 2: the Ferrari was “an 80,000 dollar automobile” according to inspector Todd
I retired in my 40's. There is ZERO chance I'd even spend $40k on any vehicle. Never put large amounts of money into things that go down in value. It's stupid and why so many are broke and living paycheck to paycheck.
I've been driving my 26 year old car for the past 16 years. I got it from the first owner.
I own four early 2000's GM trucks they are going up in value because I take care of them and they don't break me because I do my own work combined and all the maintenance it's no were close to one of these new trucks.
We have a 2004 Chevy Suburban and a 2001 Jeep Wrangler, got them used. Now in 2024, we could re sell them for what we bought them for years ago, because prices are stupid right now.
Likewise...it's our age range that is saying hell no to these prices.
I say let the people keep putting large amounts of money into things that go down in value. They're the reason why I'll be buying that car at a discount in 8 years.
Cash for clunkers was one of the many crimes against humanity.
Right up there with Ethanol in your fuel.
Can you tell us why?
@@MikeMane-ex1vf The law mandated that they DESTROY the car they bought. Fully functioning cars WERE DESTROYED - PER ORDER OF THE US GOVT.
That was a long time ago,I’d say it’s have little effect these day’s.
@@MikeMane-ex1vf It took good cars out of my price bracket. Not to mention used parts.
The auto industry iNOT selling what we want! Gas powered4 Door sedans! Don’t want stinkin’ EVs!
Can you say, STUPID?
what happens when you dont have to worry when you'll just get bailed out again
Who paying over 100 Grand for a Stinkin' Lincoln? Thats absolutely Insane!!!
No one, apparently.
@@bOOmbOOmProd
lol👍
No one. How about a 800k house? Who is buy those? Oh, no one. So the two biggest rate of money things are crashing... which means what? Th economy is about to get whacked. M2 matters, liquidity matters, debt levels matter, interest rates matter.
Nvidia stock holders
Over 100k for a new Navigator and the same vehicle 3 years old is 58k?. 40k depreciation in 3 years is insane. No thanks
These prices are INSANE...Those days are over. America is entering a long period of extreme austerity. It's gonna be shocking to all what is coming. And the days of 120k pickups will be long fucking gone....
Needs to happen to correct inflation.
Shocking, but probably true. Chickens about to come home to roost. Not a pleasant site when you look at the horizon.
Good
@@olafvidar9315 tell us what your crystal ball says is coming!
@@olafvidar9315 tell us what your crystal ball says is coming!
my 2001 Camry is still going at 270,000 miles. hope it last long enough for a used 2005 or 2006 camary prices go back down.
310,000 and change '98 Grand Cherokee still chugging along - people are so fukn stupid tryna look 'cool' smdh
Ive never seen the ford dealer by my old house so packed with new inventory, i was shocked.
Moved 2005 to Canada from Germany. In Germany I drove used cars, low km, for around €5,000. In Canada I bought a house. Couple weeks later calls from dealerships to buy a new car. (Thanks to my bank I’m guessing) After 2 years, my old $2,000 van I bought just to get around had enough. Bought a new Dodge Journey. Was less than $20,000 to 0.9% interest. 12 months later, the dealership needed more sales. They offered to take in the car, paid off the car loan completely and set me up with a Jeep Grand Cherokee, $32,000 to 0.0% interest and did throw in a free set of wheel with winter tires. Only to get sales. I still can’t figure out how dealerships survive with deals like it. I do live now in Panama where I drive, right $5,000 used cars. Mercedes E class with at the time of purchase had original 36,000km. No car payments. It’s paid for and I drive it until it goes to heaven. This crazy new car prices are ridiculous. Nobody should buy a car for $120,000 if it isn’t a Porsche. Let the car manufacturers just eat their cars.
If you buy a $88000 truck no money down 72 month loan @8 with TTL that’s a $1600 dollar monthly payment
You are paying $1600 per month on a truck
The total amount you will have paid if you paid $1600 per month for 72 months is: $91,240
You have not added in gas per month, insurance per month and oh remember kids this is a depreciation magnet
All you podcaster(s) need to talk is the monthly payment, insurance payment, and interest on loan.
The price of the car (depreciation) is sometimes the 3rd largest expensive of owning a car.
Insurance can be much more, and gas as well.
Only that much extra with interest? Another huge cost that people don't look at is you need to have full insurance since you don't own the vehicle yet. Instead of just liability, and fire/theft.
@@mckricks1 I did an online loan calculator with that info.
I got a total repayment of 111k. That means 23,000$ just interest, or about 1/4 of the original cost.
@@thor3279 Yeah that sounds more accurate
@@thor3279unreal. My first new car I bought was in 2008 only new car actually. 0% because GM was going bankrupt.
I paid like 27,000 for it.
This person pays almost that in internet
But remember 10% Joe said there is no problem. The people still have money.
Great video Brandon, this truly paints a picture of the industry as it sits today. Tough times ahead. Great bloopers too.
Please do not bail out GM... There's a reason they call it government motors..😮
They will have to be bailed out, for every one worker at gm they have 2.5 that draw a pension.
@@Angry_BobGM dipped into their pension funds back in the previous century and never paid it back. The Board and Executives brought on this issue.
You can't go to war with anyone if we don't make anything. They will always be bailed out.
America's communist coop. GM
we have too. theres no choice but to bail them out. WHY YOU ASK, ? because if we need military to mass produce our tanks, hummers and anything else we need these factories that CAN BE CONVERTED QUICKLY. this is why the govt balis them out, if we didnt we would be speaking russian or chinese.
There are plenty of us who can afford to pay cash, but refuse to buy this hi-tech JUNK.
Plenty of us who can pay cash???🤔
Amen!! The reason we can afford a cash buy is because we REFUSE to finance crap that depreciates. 😮
exactly!
Plenty of liars flexing on comments
@@LOUCABRASI yeah, I'm a cash buyer and I'm not interested in any of the garage being built now.
I was in the car business when Jimmy Carter was president and I know what people in that business are going through. I feel sorry for them. Most of those people have nothing to do with the price of a new vehicle and I can assure you they are hurting. It’s a good business when things are going well but when the economy takes a downturn they are among the first to feel it. Thank God I had a trade to go back to, but it took a long time to recover from that
Keep it up, you two guys are cool to watch and very informative, thanks!!!
I love when you guys team up. It's like the Avengers coming together.
Just love how these guys joined together to create real content on what we’re living in every single day. It shows how in every part of the country we see the same story. A collapse to say the least!
It's the system that's good for the politicians and people who work in government .government employees include police and teachers they want the system to stay the same because it benefits them ...they are the ones who can afford homes and expensive vehicles ..none of them are poor
@beamingglow3246 ha, except it's not even the case. The dealership i work at just had a historical record month and has been in business for over 100 years. Oh, the internet.
When the algorithms combine, you know the situation is bad
Nice colaberation Brandon!!!! I follow all three of you!!!!
I work at a Honda Dealership. civics, Accords and CRV's sell really well , even the used ones which are actually rare. Hybrids are really popular. However, We are on dealer street and the Ford/Dodge ram down the street is plum full. the nissan dealership next door, same thing. If people are going to drop money on a new car, its hybrids, Toyotas, hondas and fuel efficient cars. We sell a lot of Odysseys too to families. Im glad Honda didnt go crazy with giant vehicles with options people do not want.
You work for a Japanese company. Then you should know that the Japs are smarter and harder working than the Americans. Fact.
Glad no one knows about valve adjustment on 2000s crv... Lots of non runners out there for the pickins
@@breckfreeride They would if they were smart enough to read their manuals or brought them to an independent mechanic who knows Hondas. The K24 will go well over 300,000 miles with regular care.
@dougrobinson8602 so will most engines when maintained. This honda magic is nonsense. I've got an 07 odyssey with 260k, but I'm not deluded into thinking it's a special engine.
Was recently at a Genesis dealership ( my wife has a 2020 G70 that’s still under warranty until next year). Usually you’ll have customers while they’re waiting for their cars to be fixed, get up and go check out the new cars and used cars for sale. Here’s the crazy thing,…no one left the service department waiting room the entire 2 hours my wife and I were there. We actually had good conversation in the room with everyone but no one was wanting to venture to the other side. Maybe the not-busy salesmen on the other side kept them in their seats, who knows! One couple stated they used to (emphasis on used to) trade in cars every 18-24 months because they liked new cars and their car payment wouldn’t fluctuate much as they could usually get what wanted with 0%-2% interest rates. Now they’re actually servicing their vehicles because they had to make a choice between their house payment or new vehicle. Automakers are forcing their long-time repeat customers to make decisions about new vehicles and the answer is no!
Wait until your Hyundai engine blows up and you find Hyundai covers almost nothing under their drivetrain warranty,
It’s not the car makers that are responsible for APRs, blame the Fed!
Those bloopers got my 6yo laughing! 😂 😂
Thanks for the chuckles, on top of all the great info about the car market today! 🥰🙏💕💕💕
I remember a time when $40k was a lot to pay for a car or truck. A $100k would buy you a Rolls or a high end sports car. There's no way that a pickup truck should cost more than maybe $40k. Do car companies not realize that most of their potential customers make a heck of a lot less half a million a year, which is what you'd need to make to even think about dropping more than $50k on a vehicle?
This seems like the definition of failing to not "read the room" by the car manufactures.
After watching today's video, I went out back and gave my 2004 Honda Accord EX a great big hug. She's just about to turn 50K on the odometer and the engine is like new. It's a comfort knowing I may never need to buy another car.
My 03 EX-L V6 had like 300k back in 2017, do you drive like once a month?
You will never _need_ to, only _want_ to. It has another 300K in it as long as you do what you are already doing with it: TLC.
@@jpnguyen11 I have a short daily commute. It's driven every day. 🚘
@@oneanddone7992 That's my goal. I hope you turn out to be right on the 300K. I've been using synthetic oil for at least ten years and believe it could do it.
@@davids5048 Great to hear it, not to play internet armchair mechanic but every month or so you should take it on an 30-40+ minute drive out on the highway to let the engine open up and clear carbon deposits. Engines don't like start-stop cycles too much, especially when they cannot warm all the way up
Love this format. Getting 3 on the ground reporters. Love it!! Subscribed.
Govt has already reneged on social security through rampant hyper inflation , the dollar has devalued by 100 percent in a years time ,
~~WORD!~~
The older man with the grey beard hit the nail on the head. When the government mandated that car makers make battery powered cars and trucks, the manufacturers jack up prices of normal vehicles to cover the cost of making battery powered vehicles that they knew would not sell.
agreed!
There is NO mandate to build electric vehicles. The mandates are that the manufacturers must meet certain emissions limits for their entire range of vehicles as a whole. If they want to build their higher profit, higher emissions $100k+ trucks, they have to build lower emissions vehicles as well to achieve those goals. If they would build more efficient gas-powered vehicles, they could meet the limits as well, but American manufacturers have chosen to NOT build efficient cars, which they absolutely suck at building anyway. I'm not saying it isn't at least partially the government's fault, but there are no government mandates as of yet for manufacturers to specifically build electric vehicles that I could find in my research.
In addition USA done away with the compact 4x4 pickup market. On a Cattle Ranch I used a S10 ZR2 for many jobs the offroading was great the small stature allowed me to drive into corral systems to make repairs etc.
Show us the name of the Act of Congress that mandated BEVs. Or the number of the Executive Order. We'll wait.
I believe the epa had mandated it but with the chevron decision, mandates made by the 3 letter agencies can’t be put into effect until a judge votes on it
Jobs in my town do not pay anywhere close enough to afford stuff like this
This was a great video, loved how you pulled from other UA-camrs, do that more often.
I'm in the market for a used car and have every dealer in town ringing my phone off the hook. I ask them prices for the models I'm interested in and whe. They tell me I just chuckle and tell them good luck 😂
Went to a Dodge/Jeep/Ram dealer last weekend and it was packed with cars, but 0 customers other than us. The cheapest Grand Cherokee was 48k and was not impressive at all. Went to the nearby bustling Mazda dealership and got a CX5 for 32k and was stoked.
When you have a truck payment more or less like a house payment.........look down the road a bit. The house may appreciate in value...the truck goes down EVERY day!
My house has never made me $1,200 in a day. My Car has.
The reality is government overspending started inflation. Inflation caused workers to demand higher wages. In turn companies raise their prices. This affect has started a sprial.
Except the wages aren’t going up. Layoffs are, though.
What are people smoking who are paying $100k for a vehicle?
😂😂
Fentanyl and blues are everywhere
The glaring point to me is how the manufacturers don’t appeared to be stressed. Everyone can see the breaking point with these prices and the crash coming but nothing is changing. Manufacturers must know they can use the bail out card again, its the only thing that makes sense
About 10 years ago you could buy a BRAND NEW Freightliner Cascadia sleeper that you could live in and work and you would have a job that made you lots of money for $120,000 dollars, now you can barely buy a Jeep that wont even be used in the forest and only run on highways and streets for the same price, something is absolutely broken in this economy.
On third world roads
As a fellow truck owner, I can certainly say that, circa 2015-17, a suburban dealership if Chicago quoted me $115,000 for a brand new Freightliner Cascadia with a Cummins ISX-15 and a ten-speed transmission. It was an extra three grand for a thirteen-speed.
I couldn't believe this when I saw it. I went to QuikTrip and next to it is a Subaru dealership. They had a lot full of electric Ford Mustangs Marquis with Subaru badges on them.
I just laughed.
The crazy thing is they are still the same tin cans from 10 years ago, Easy to dent and rust unless yo pay extra from added protection. They think throwing in some sensors all of a sudden triples the value.
Auto insurance is more expensive now that 4-5 years ago. Another reason for dealers not selling vehicles
@@tyronepringle3344 but they are selling vehicles...
Love the new format with multiple creators you’re americas boots on the ground for auto pricing! You’re the gold standard for car reality bro! Thank you!
I bought a used 2024 Chevy Trax RS for $3k under MSRP with 1,500 miles on it. It's amazing.
@9:40 ..Did the carsales man really try to come sell you that car 😂
Just bought 2014 Focus SE 5 speed manual 70k miles one owner for $4,500. Fun car
Dump that car. Transmission will fail.
@@bobbiebogdanovich8381 "5 speed manual"... only the autos fail
Celica GTS 6 speed...
Top Gear tv show reviews that car and raves about it all the time
Hope it is a manual, ot that car will cost $5000 every 30k miles!
In 2001 I bought a Toyota Camry LE 2.2 for transportation for my son going
to college, it had 48,000 miles he drove it, graduated and still running with 220,000 miles
and what surprises me, do not burn any oil, although I change it twice a year. I paid
12,000 dollars and at that time, somebody told me it was kind of expensive, now
I wish I can find a car like that with 48,000 thousand miles I`ll gladly will paiy 20,000 dollars.
Love this collab video. How can we see what cars you're selling in NC?
Work trucks use to be a great value. Yes, they were a little high, but they lasted a long time with great fuel economy. Now, they are over priced anchor weights. For a truck to go from 40 K to over a 100 K in a short period of time is crazy.
The public that they were able to sell these big trucks to, doesn't exist anymore. My theory is; it was a trend that many people found out they couldn't really afford, and it took about 10 years to really sink in.
I just got a low mileage Little Tikes Cozy Coupe for $7!!! It is diesel powered. (Looking at my feet while saying) diesel get me there and diesel get me back.
My uncle was a
Diesel fitter in a
panty hose factory,
They would come
down the line, Unk
would hold them up
and say
“ Diesel Fitter!”
Collapsing is a major understatement
I have been trying to buy a full size SUV like Yukon Denali. But the price is unbelievable right now. Even a used 2023 or 2022 is over 70K. Payment is over 1500 per month. It’s crazy. Not buying until it drops down significantly.
The US government breaks its own world record in tax revenue every year (over $5 Trillion) and borrows 1.7 Trillion per year to cover additional spending, adding to the $34 Trillion deficit. This addition to the money supply lowers the value of the dollar, which creates massive inflation. This is not trending to improve so prepare accordingly.
I have a rule about buying a car. It can't be more expensive than my house. These guys got fat and happy gouging people for the past five years, now everyone's upside down in cars they massively overpaid for. Who could have possibly seen that party ending?
A car shouldn't even be 20% the value of your house...
Say hi to Powell & Yellen everybody !!
One of your better videos. A lot of information