“Prices will come down when the banks stop lending” might be a great country song…

I will walk through broken glass to avoid giving my local dealers a dime. My wife needed a new car (hers was beyond economical operation) in 2022. The dealers in my area were insane with markups so we had to travel far away just to buy at MSRP. Now that my car needs replacing, I won't even bother giving them a chance, ever. I would rather fly to a small market and drive 1000 miles back home than go to my local dealers. I may even keep my older car and just deal with the increasing maintenance costs. A new car is still 4x the cost of replacing just about every part on my existing car, one piece at a time. It's nuts.

About 16 million people will ignore this. They even sold 9M new cars in the 09 crash

I greatly appreciate this channel! No gimmicks, no nonsense, simply straight to the point honest information. Please keep up the great work, Lucky!!!

…still driving around my ‘98 Camry V6 and ‘07 Civic LX…both have over 300K+ miles!

I call this phenomenon where the dealers refuse to change their ways as they're wearing the "Golden Blinders." I won't feel bad no matter what happens to those stores.

Interest rates are almost up to their normal range. The crazy situation where interest rates were almost 0 for so long is an anomaly. It is not healthy. It's just that it happened for so long that a lot of people begin to think of it is normal

My 1927 Ford Model T has over 800,000 miles and will do just fine.

I can't remember the last time I got money back during tax season...I get so annoyed every time dealers talk about tax season deals. :(

Called a dealership in the Florida panhandle last week to set up a test drive for a used 2023 Honda HR-V with an “Internet special” that took off $1500 from the asking price. I showed up the next morning to drive the car just to find out the “special” had been removed from their website AND the car reeked of cigarette smoke! Not only that, the asking price was now $3k less than I could find one brand new. They had the nerve to say that they have the best deal in 150 miles but failed to factor in cars for sale just over the boarder in Alabama. Needless to say, I did not buy that car and was happy to walk out.

Thank you! I’ve been starting to shop for a new car because I’ve started seeing deals. I think I’ll wait. 👌🏼

My custom car stereo is worth more than the car-Accord with 265k miles!! I’m looking for a nice Lexus GX470, I know my way around a wrench 🔧!😎

I work security at a Florida Jeep Dodge dealer. They have a lot and an overflow lot, and they are so full, they are parking them on the grass and a nearby lot that they are leasing. They are packed with inventory.

I think you're spot on. I bought a gently used 911S in 2009 for 45 percent off MSRP with only 5K miles. The trick to know when to buy is when people are shedding all of their toys and nobody wants anything to do with ostentatious luxury / sports cars. I think it's going to be better than 2009 as the number of exotic cars manufactured each year has skyrocketed so there will be a lot more supply available this time, particularly from the youtubers and other posers that could never afford them in the first place.

Thanks for your wisdom , your channel is one of my favorite.

I paid 5k in cash for a 2005 Mazda 6 isport with 109k miles, single owner & no accidents. 2 years before that I paid 4k for a 2009 Pontiac Vibe GT with 130k miles. Both are up to date maintenance wise & I couldn't be happier.

Really? I'm noticing dealers offering more flexibility than on new cars than used. Why would you by a used 28-30k accord when you can get a brand new one for 3k more with better APR offer....

Zero reasons in my opinion to ever buy a brand new car even with 0%. The depreciation alone in the first 3 years is killer

Fantastic advice Lucky! Thank you!

Thanks I'm primarily watching you for the pulse of the American economy and auto industry. And some car news too...

The depreciation on those EV's is off the charts!

I am in the thick of it and want to share what I am seeing. Kia quoted me 13k above MSRP. Honda was willing to go 2k under MSRP. Also, Kia vehicles are getting stolen at alarming rate. One thing is clear to me is this is early stages of buyers market that has long way to go. This is why you need to do everything in your power to not buy a car until you find dealer who gives you really good deal (rare). I just learned you can extend your leases which will give you more time to pit dealers against each other and let the market shake out further as inventories build. Toyota will let you extend your lease month-to-month for 6 months.

Thanks Lucky for always keeping it real. Truly

Mr. Lucky, thank you for educating us about the inner workings of the auto industry. Thank you again.

I hoping that dealerships realize that 90k for a used corvette a 2023 should be lowered to around 65k. Dealers are really price gouging on this particular vehicle.

Newest additions in my driveway. 97 Jeep ZJ for $2k and a 07 650i for $6k. Both give me something fun to gussy up and cost less than a down payment. Tigerblood…..winning

Great info. Thanks Lucky!!

100% Just started working in the biz 2 months ago in Texas and this checks out so far

Great advice Lucky! Those other KZfaqrs are clickbaiting by saying not to buy a car at all. Used cars are the way to go and deals are all over the place!

So basically banks are creating problems. If they did their homework on the prospect customers, we wouldn’t have these problems.

Yeah. I'm glad I got my transmission rebuilt on my 2011 F-150 ecoboost. All I gotta do is get that rear diff. done and the truck is ready for a long road trip. Best part is, it's paid off.

So I definitely need to get a vehicle... In this video came in the perfect timing thank you!!

Buying a new car on this market is a nightmare... buy local or police auction, spend some money on repairs and avoid the headache of monthly payments

I leased a vehicle in September of 2020 and paid MSRP which I usually don't do, but accepted it as there was a vehicle shortage --- I walked away from 3 dealers as soon as I saw the "market adjusted price" - Those dealers also have lost my business for life.

I agree with you on the interest rates!

yes, this is true , prices are +30% of what they used to be in 2019. And now its unfordable for most of the people to get the vehicle. dealership have to drop the prices on cars.

Terrific advice as always Lucky, thanks man!

Car to me seems to be a liability to invest cash into, not that i am against the luxury of car but if you have a good invest to back up such luxury that's cool or you invest into car for mobile in yield more cash for you, With the current of the nation and the government not having focus on it rather being concentrated investing in on war of other nation, what we are to do in this situation is having a Fin advisor who can help and assist with insight for us to build a good portfolio, to invest in cars.

You are Spot On Sir !

Been waiting since 2020 in anticipation of this. Thankfully have not needed a car since, but ready to pounce. Thanks for all the info you've provided over past few years. Been watching since I saw you with DiMartino Booth.

Went Stealership shopping last weekend looking for Regular Cab F250/350/450. Some lots had used trucks at or within 10k of msrp of new. Financially it would make more sense to buy new. Most base trucks were marked $2k off. They are trying to keep used prices high, while rows of Broncos, Mach E's, F150s, Mustangs pile up on lot. This dealership has estimated 1000 vehicles on their 4 brand lot and I saw 3 people looking and 1 test driving on A Saturday afternoon. That's how bad it is and no one even came out and bothered me. Lol

I just keep patching up my '03 Nissan Pathfinder. 200k and still going!

You nailed it. So many people live payday to payday and say "hey i have to get the newest thing out". 6 months later, this isn't as exciting when i first bought and i don't want to pay for it anymore.

Probably the best advice I’ve heard so far lol

Oh, don't worry Lucky, I will never buy a car again!

Just gave up after 2 years of waiting. Decided to fix and upgrade my Xterra with 180k miles that I've had for 10 years. Its been more enjoyable.

Lucky you are so right !!!!!

Spot on!!!!!

I plan to use the Warren Buffett formula. Sit on the sidelines on piles of cash and buy when the bottom drops out of the use3d market. Hold, fix and then sell.

I see new dealer temp tags on vehicles all over Las Vegas I don’t get it! These vehicles are over priced! Quit buying

Thank you much for your time

My 2011 ford Taurus is pushing over 204k miles and it’s still running strong with just some minor misfiring problems on it nothing too crazy. 😊

This is such great advice, going to be funny to read the comments of the people that are gonna argue against this!!

Wow, I agree with some of the statements! Again, the unfamiliarity with Tesla prices is comical. Soon all will be obvious.

What you said about vehicles in the $5,000 to $20,000 range going up in value and being able to find all kinds of deals on vehicles in the $35,000 was very useful. The timing chain broke on our old vehicle and it destroyed the engine and it wasn’t with the $10,000 to repair it. I was working with a dealership on a 2019 RAV4 priced at about $20,000. Your video led me to explore a new RAV4 listed at $32,000. Between the interest rates, incentives, better trade-in options, plus a manufacturer's warranty I got a brand new RAV4 with a payment within $10 a month with the same term limit as the used one.

Great advice

I bought a new Honda CR/V at MSRP last April a year ago. It replaced the 2001 Honda CR/V I had also bought new. I have no problem holding onto a car for a long period of time. ICE, not hybrid. I could not be happier. I am 68 and wanted to enjoy driving this while I still can. It is likely going to be my last car.

A local Subaru dealer had a promotion of test drive an Outback and get a $50 gift card. We did that and once the salesperson realized we weren’t buying, they just cut off communication completely. It took a month and I finally emailed the sales manager to say they had a promotion, we satisfied the terms of that promotion, and they weren’t honoring the promised promotional gift. Finally got a response today saying they’ll mail it to me. Literally threw away a potential future customer (I want a new WRX within a year) over $50.

So far I'm not seeing used cars go down in price. They are almost the price of new still so to me it makes more sense to buy new and get a better interest rate

Your advice is on the money. I wonder how many people will actually listen though.

I’ve never seen so many temp tags in a tax season before. I live in Atlanta..?seems like everyone got a new car.

I was looking at a basic economy car and I initially intended to buy a lightly used car. I ended up with a new car because I found a dealership willing to make it worth buying new as they offered a price which was properly in line with what a new car is worth over a slightly used one (MSRP, basically). I’ve purchased four new cars over the last couple of decades and it was by a wide margin the most miserable buying experience I’ve yet had. I would sincerely rather go to the dentist than buy a new car again, it was awful.

Been following you for awhile and would like if you could do a follow up vehicle on specific type of used cars to buy and do you still think July or August is the best time to buy or should I wait longer? Thank you sir!

I’ve been looking at them Pontiac G8’s lately, they definitely on my to get next list

Good advice

I scored a 2004 Lincoln Town Car with 34K miles for $12,500! Super pumped as this is a really clean car with a great Carfax. Great paint and clear coat (not a repaint either). The leather seats are in great shape too! I will miss my Mercury Grand Marquis totaled by a waitress late for work in a compact SUV ... yes a small vehicle at >40MPH faster than myself totaled my car in a rear-end collision.

Hey Lucky, love your channel. Are dealer markups considered in depreciation? OR, is depreciation calculated from MSRP? I always wonder how they track that.

I bought my Toyota Camry new and paid it off in 4 years. I will keep it for another 20 plus years with good maintenance on it.

Only problem with used vehicles still comes down to interest rates. Why get a 6-9% Apr on a 20-25K dollar used vehicle with 15-30,000 miles when for 0 Apr you get a brand new one for 25-30K ? In interest and term amounts you can and up spending the same but ones new and you know the driving history and one is used. Take into account shady dealership practices with “maintenance” on selling used vehicles. Just food for thought. Love your videos though!!!

Lucky, what do you see happening with Canada? I’d love to see a video about our market because no KZfaqrs really cover it. Aside from MOPAR & trucks, there is no discounts out there other than maybe 500-1000$ out of the profit from the vehicle. I work in service at Mitsubishi & the new car lot is full & sales are down 75% since the fall when I talk to the sales people - same with the Mazda beside us & the Kia next door. And all these brands have no manufacture rebates or real interest rate help, while in the US I’ve heard these same brands are getting more help from the manufactures. Curious as to why we don’t get the same incentives here.

I bought a new Lexus GX 460 with a $9k discount off MSRP plus Lexus financing 2.49% . It was for my business and I get tax write-off. My insurance for this vehicle was cheaper than my wife’s 2017 Subaru Outback.

Stelantis and Kia raised MSRP 50% in 5 years. My local Honda dealer has 69 Accords with gas engines and 53 hybrids.

21 Honda Odyssey’s sitting on the lot at any given time for the last 3 months at my local Honda. They’re definitely starting to sweat to get them out. Dropped the prices by $1k off on MSRP online. Probably get another $3k off MSRP if you negotiate well. Can see them drop the MSRP now.

excellent data; with on ground information; you got a new sub sir

This channel is a goldmine ❤ Love your content No BS JUST FACTS

I’m not buying a repo car that’s been beat on like a rental and never had an oil change. Not my idea of a good deal. I’ll keep my well maintained old Honda for another decade.

wow this was a weird one, basically old advice was don't buy a new car (good advice) because they are overpriced. new advice is don't buy new inspite of new lower prices (good advice) if you can't afford it. but if you're planning on buying a car you can afford and need, then it is a good time. but if you're selling used cars, it's never a good time to buy new. better yet, just keep your current car running.

I was "lucky" to snag one of the last VW Passat TDI's during the VW emissions lawsuit where all TDI's sat on lots for two years, so bought a "new" 2015 Passat TDI in 2017 with 0% financing through VW credit. VW was so desperate to get these 2 year old "new" cars off the lot, they gave me $5K off MSRP. I made my last payment on it in February. It was the only time I've bought a new car, but probably the last time.

I watched this and immediately thought of your video a couple days ago "DEALERSHIPS ARE LYING" dealerships are making up their own discounts to lower the advertised price but tying those discounts to the way they can manipulate how you pay - trading and financing =all the dealership has to do is lowball the trade even more or raise rate and push coverages -- Its literally the top used shady tactic in usa

Always used beater cars I can fix up. No debt.

Well duh ! Never ever buy a new car ! Buy a slightly used one !

You are absolutely 🎯. One more thing to add: Because bad EVs are not selling, we're going to see automakers going bankrupt (Jaguar just now & many will follow). Automotive plants are also going to be massively retooled (gigacastings) & automatization will go to max because of the ridiculous new minimum wages obtained by unions. That + recession hitting hard means there will be a free fall with new vehicles prices 1 or 2 years from now. 25% totally doable, maybe 1/3!!. Small cheap good EVs that everyone wants are also finally going to be a thing. Never overpay for cars, it's really not worth it. I'm a Tesla fan but seeing the tech bros spending 120K $ on a Cybertruck when we KNOW they will be worth 60K $ 3 years from now (with first gen flaws fixed as cherry on top), it's pure dumb money.

I’ve been waiting for this moment for a long time. I had my eyes on a used 2019-2022 mini cooper clubman or countryman. I’m still going to hold a bit more been seeing some used car prices dropping $2k

I was looking to possibly pick up something used over these past 3-4 months. Auto loan through my credit union. Got close but didn't pull the trigger. It really is ridiculous out there. Gonna put about 3-4k into my 2008 Lexus RX 400h. And get it wrapped. 250k miles but could probably get 350k.

I won’t say never but hell will freeze over before I buy new…

This is great advice if you're young. But as you get older, you don't always have time. Sometimes you gotta live for today.

Thanks real info

Better off leasing than taking 60k depreciation on car.

I don't see why anyone who isn't well-off would ever buy a brand new car. Cars depreciate so much faster than their actual functionality.

Nice! Subscribed Just the ammo I need to sway my son away from making a huge mistake on a CT4V Blackwing 🤦 Thank you

Completely on point

I bought a new Wrangler Rubicon 4xe 2yrs ago, MSRP around 68k (minus 7.5k tax credit), similar 2024s are now listing for 50k or less, though I’m not sure if those are real prices, probably not. KBB says trade value on mine is around 40k though, with only 6k miles, it definitely stings.

Somebody needs to overpay for a new car so I can get a good deal on a lightly used car

I remmember last year, when I was looking for a Civic SI. All the ones I found had huge markups. The cheapest one I found was $38k, but most of them were around to $40k. I ended up buying a manual integra aspec. It was cheaper than most of the SIs available since I got it for msrp.

Thanks for the info. I have to buy a 3 row SUV this year, maybe a 2023 Mazda cx 9 or something around that price range. Any thoughts or suggestions?

Never try to time the bottom of the market. Find the right deal for you then jump on it.

I know almost everyone is going to laugh but the only new car I'd buy right now is a Mitsubishi Mirage G4. If you wait long enough, if they sit on the lot long enough the dealer will cut the price from $19k to $15k, they'll take off 4 grand just like that. That's when you swoop in and get one. Car is a much better value than any EV on the road today, my best guess is my PHEV costs about $8 bucks a night to charge overnight on a 120VAC level one. Depending on how cold it is outside that charge can yield 25-38 miles. When I had my old Mirage before I hit the deer and wrecked it I remember gassing up a full tank every week at about $30 bucks give or take depending on how much regular was. Of course an EV will rip the doors right off a Mirage but as long as you get to where you're going and you don't mind not moving at break neck speed, you'll never have to worry about dropping a battery for $20k. 😆

Hey bud just stumbled on your channel and I'm also in Vegas looking at getting the new Tacoma. I'm not in a rush but getting last years model isn't an option due to the model being a total refresh and the better transmission. I know none of the lot's have the trim in stock and I don't have a choice to wait but - my questions is do you have a better experience opinion of the 3 different Toyota dealerships in Vegas? Truly appreciate your insight and time.

thanks for the heads up info. shopping for a 23-24 Prius prices have dropped, but some used Prius are still selling higher than a new Prius with zero miles. In fact Toyota has notified dealers not to go above the MSRP because complaints from consumers were complaining. Guess I will wait longer for a good deal

Live here in Vegas and have been looking around. Findley Honda is adding a 3000 market adjustment still to hybrid CRV with over 40 of them on the lot. Mazda was ok. Ford had a 5000 markup. Subaru seems to be ok also.