BLOODBATH: Car Dealers Are CRUMBLING! Going OUT OF BUSINESS!

Рет қаралды 322,423

4 ай бұрын

BLOODBATH: Car Dealers Are CRUMBLING! Going OUT OF BUSINESS!
In this video I talk about Vroom going out of business, the volatile car market and how that effects car manufactures, also I talk about the struggles companies like Carvana deal with in the used car market.
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

Пікірлер: 1 300

@bryantwalley 4 ай бұрын

All the idiots that participated in the price gouging and bad math need to go out of business. I got zero sympathy for them. Prices are still way too high.

@ronclements2002 4 ай бұрын

Amen! These sleazy people who have stuck it to the average consumer I don’t feel bad for. I feel bad for people who owe 10 grand more than their current vehicle is worth

@Rjisawake 4 ай бұрын

Prices are still way too high. Nobody makes any money car companies gotta knock it off we tired of it!

@jcdebbs 4 ай бұрын

In this case it looks like the customers are gouging carvana 😂

@johnnymichael1804 4 ай бұрын

Maybe for you. We have combined income of 300k a year. And have no problem buying anything we want. Cope and seethe.

@johnnyyuma4194 4 ай бұрын

@@ronclements2002 No body forced or even tricked them to get screwed over. People are I want it now NO matter the cost. So NO sorry from me.

@lanky-x782 4 ай бұрын

Most dealerships have acted so sleazy and dishonest for so long people are practically cheering their demise. Wonder if buisness will take a good hard look at themselves. I'm not holding my breath.

@toddlavigne6441 4 ай бұрын

100% true, no love lost

@rickreese5794 4 ай бұрын

Fixed failing dealers years ago. This time, too many problems, Inventory flooring is eating up dealers, costs across the board are insane, and reality is knocking Now, 🤷🏿‍♂️🫣🤮

@notimportant3820 4 ай бұрын

I talked to a guy that owns a dealership during lockdowns, he's moving to an online purchase style business. His customers don't like the games, or the high pressure sales. You can only yank people around for so long, and they'll just go elsewhere. He is looking at saving salaries, taxes, benefits, etc.

@silvabakx6396 4 ай бұрын

yet they keep throwing cost prohibitive concept cars at us that'll never be become production line vehicles. hilarious

@KylerBorn 4 ай бұрын

You know what's crazy? A 3 year old preowned vehicle is only $3000 less than when it was brand new. That makes no sense. Your vehicle automatically depreciates 20%-25% as soon as you drive it off the lot. I sold cars. It makes no sense, except super GREED

@christopherwhull 4 ай бұрын

It would not be GREED in any way it would be some sort of stupid mistake for buying a car at 15k over what they could sell it for. The only people who buy cars at 15k over wholesale are the consumers that are also tied to crappy loans and crappy add ons.

@markfcoble 4 ай бұрын

Plus massive inflation.

@bradhaines3142 4 ай бұрын

that actually started a couple years ago when prices shot up in the first place. for my uses i needed a highlander preferably hybrid, and when i looked at prices the same thing but around 5 years old and 100k miles was still right at MSRP for a NEW ONE. so why buy used when they go for the same as new?

@Lifewithemerson323 4 ай бұрын

Hey bro I bought my Audi rs5 during covid. It was my 3rd rs5 I didn’t pay no mark up. 3 months later I had a 5k service and they had a Audi rsq8 car sticker was 150k with additional 50k mark up. 200k for a car selling at 150k. That wasn’t all all the basic Audis had 10k-35k mark ups on basic trim cars. People were buying them. Am like how can you pay for a basic car for a mark up.

@imfloridano5448 4 ай бұрын

Yep, but when you do a trade in you don't get anything close to blue book. I remember buying a 2015 Nissan Altima for $20k, in less than 8 months tyme and 15k miles. I decided due to my hip to get an suv. So I got a 2016 Jeep Cherokee and they offered at first $11k for the low mileage Altima, I walked away then they chased me down and gave another $1k and a extended maintenance and warranty package that I made was not included in my cost. I trade outta that POS Cherokee with a faulty 9 speed transmission and got a newer Cherokee with updated transmission. Still a POS so i said screw and got a 2017 quad cab Ram 1500 with incentives that erased much of the rollover.

@johnsmith-ym3kx 4 ай бұрын

A massive dealership in Washington state just went under!!! Northwest Motorsports was huge here and the greed killed them!!!!!

@chadhenricksen1111 4 ай бұрын

If I remember correctly the original owners sold the business a few year ago.. I'm pretty sure it was under newer ownership when they closed.. I'm also pretty sure these newer owners never gave the employees a heads up.. No Bueno My Friends

@nnichols8358 4 ай бұрын

Sonic Automotive…

@TheJeffbarrett 4 ай бұрын

I saw they moved in Lynnwood, but now gone? oh well

@subaruamazon 4 ай бұрын

New car dealership? what did they sell?

@327MONEY20 4 ай бұрын

Great news!!

@Subvet684 4 ай бұрын

Reminds me the story of the kid on the corner selling pencils. Someone asked how much and he said $1,000,000. The guy said you won’t sell very many at that price, the boy replied “I only want to sell one”

@shannondavis5728 4 ай бұрын

Perfect analogy & example of greed & delusion!!!

@marksmith8928 4 ай бұрын

That sounds like Mary Barra. 😅

@JCreole 4 ай бұрын

💯

@bobbg9041 4 ай бұрын

10:45 there is a difference between a ten cent pencil or 5 dollar box of them and a lot full of cars you borrowed money to buy and sell. Most car dealers do not own there cars outright, a bank financed the money to buy them and you pay instrest on the note from the sale of cars. Its called floor planing. If you think a dealership has 50 million bucks tied up in inventory your wrong. In fact most new car dealers do not earn much off the sale its the instrest on the loan your trade in and the service department or add ons. I've provided services to used car dealers long enough to know something about the game. Some dealers buy from factory lease returned stock then fix up and sell a used car or send it to auction After fixing or in some cases as is.

@lasskinn474 4 ай бұрын

@@bobbg9041 50 mil in debt during high interest rates is arguably worse. it's not like having it financed makes it better or free. although the consumers thinking that is how the prices are like they are.

@ralphcantrell3214 4 ай бұрын

Most businesses that choose to out and out gouge their customers will suffer this fate sooner or later.

@jaykilborn2508 4 ай бұрын

Price gouging? How about they stop making cars people don't want?

@ralphcantrell3214 4 ай бұрын

@@jaykilborn2508 Because then they couldn't gouge you so bad on all the "high end" ones people don't want.

@brokeduece1691 4 ай бұрын

No, those dealers who priced gouge are the ones who has $$$ to survive any downturn in the economy....

@ralphcantrell3214 4 ай бұрын

@@brokeduece1691 Well, they haven't gouged me. I walked and told 'em I'd be back in a few years when they were hurting.

@user-cl5ov9dx5o 4 ай бұрын

About time...dealers have gouged forever.

@chrism2042 4 ай бұрын

Some of the dealers are getting what they asked for by robbing people during covid. I know a guy that ordered a High Country 2500, agreed on a price. They called him 8 months later telling him to come get his truck. He got there and they had revised the contract to almost $40,000 over the agreed price when ordering. He told the salesman he wasn't paying that for the truck, said he smiled and said "that's fine with me, I have a list of people right here that will pay $15,000 more than the price I gave you". He walked out without the truck. But, they didn't only screw him, none of his family or friends will buy from that dealership again. And it happens to be the dealership where I purchased my Tahoe and have it serviced. I will not be buying from that dealership again. There is a GMC dealership a block away and a Cadillac dealership 3 blocks away. I need to trade my Tahoe for business tax reasons but just taking the tax hit for a couple years until something changes.

@rgbigdog 4 ай бұрын

He should have gotten a lawyer and sued that dealership for breach of contract.

@quixomega 4 ай бұрын

Saw this coming a mile away. These sorts of markets always over-correct.

@Andromahlius 4 ай бұрын

The employee doesn't care, he'll be working someplace else in a few months or years anyway. He's only getting to fleece the crop once, so he might as well.

@dennisdenise1 4 ай бұрын

Please name the dealer.

@robertf3340 4 ай бұрын

I’d like to see a blacklist of all the dealers in the nation that pulled this crap on customers during the pandemic. It would be good to have one compiled and published so that anyone involved in price gouging is outed and hopefully ran out of business permanently

@condeerogers5858 4 ай бұрын

People are tired of getting screwed by car dealers. Cars are too much. They just can't and won't pay that much. Some will most won't.

@brianvanwyk6817 4 ай бұрын

Here is a small hint for a used car dealer. If you are selling last years model that has been pre-owned and you are within a thousand dollars of the same thing brand new. You are not going to sell that car.

@rickreese5794 4 ай бұрын

🤔🤔🤔🤔🤔 BWHAAAAA🤡🌎💯🤙🏻

@youngmicah81 4 ай бұрын

You say that but then when y’all try to trade it in and we give y’all a few thousand dollars below what you paid for it you always say I just bought this thing a year ago. How did it drop that much in price.

@brianvanwyk6817 4 ай бұрын

@@youngmicah81 fair point but as a shopper that falls under the category of not my problem :) I am shopping for a car and I have given up on used already for precisely this reason. Why buy a potential headache if it’s only going to save me a few hundred dollars on the overall price AND have a higher interest rate on top of that? I have no idea how y’all are staying in business with these prices as they are. Good luck

@scottysgarage4393 4 ай бұрын

If you're a small used dealer and anything on your lot is less than 5 years old you are a fool.

@JOERANSTRAIGHT 4 ай бұрын

I don’t care if anybody agrees or not, but I think this is a great news for the consumer, because all of the prices were tilted to benefiting the dealerships just like bluebook values are not made for the consumer they’re made for the car dealerships to lowball you on your trade… Don’t let anybody tell you different because I use to sell GM Chevrolet and Nissans. The bluebook value of your vehicle is not for your benefit. It is for my benefit as a dealer… There are too many dealerships who are literally stealing from the customer and it’s time to pay the piper !

@patrickmichael8655 4 ай бұрын

50 grand for a truck that’s crazy

@cockaroach5686 4 ай бұрын

F’n nuts!

@UAkovalchuk 4 ай бұрын

Base truck

@ScanFan_Ed 4 ай бұрын

50? Many are 75-100! 😮 Absolutely ridiculous. Manufacturers need to go back to what consumers actually want and can afford!

@markthees5650 4 ай бұрын

Depends- I just bought mine a couple months ago for 50, but it’s really nice

@egomaniac247 4 ай бұрын

Hard pressed to find a $50k truck on lots now….bc they want to sell the big souped up ones

@davidl.9388 4 ай бұрын

I bought a 2015 c7 corvette in 2019 from vroom for 40k. Drove it about 11k miles in 4 years and had a blast with it. Decided to cell it back to vroom in 2023 for 40k. I call that a win

@stevethein9962 4 ай бұрын

My Ford dealership has been sending me flyers every month for the last few months wanting me to trade in my 2014 F150. I finally went out just to see what they had. The salesman came to talk to me and asked what i thought my truck was worth. I said well it looks like its worth $50-$60 thousand. He said WHAT! I said your the one that wants me to have a new truck, not me. So thats what my truck is worth to me. Told him have a nice day and drove away. I know my truck isn't worth 50 or 60 thousand. But to me that's what it's worth because that is what I would have to pay for a new truck I don't need. It only has 70 thousand miles on it, no rust nothing wrong with it at all.

@moonshinershonor202 4 ай бұрын

Tell em !

@Bonanzaking 4 ай бұрын

Lmao a 50 year old one might fetch that kinda money, not a 10 year old one. Maybe in another 15 years.

@moonshinershonor202 4 ай бұрын

@@Bonanzaking I've seen one of those boxes rolling around, happy to see it's Rollin.

@Bonanzaking 4 ай бұрын

@@moonshinershonor202it’s always nice seeing classic vehicles still on the road. I’ve been contemplating picking up an OJ Bronco, a late 80’s early 90’s 4 door F250 or 350, and a 60’s or 70’s F100 to join my stable of old cars. Edit: and probably a 60’s Lincoln continental like the one JFK got shot in.

@egomaniac247 4 ай бұрын

Funny thing is I guarantee he’ll slap that price tag on it to sell to the next guy lol

@jimsmith4151 4 ай бұрын

The crazy thing is. I have a relatives who is an engineer for ford. Avg cost of a F250 king ranch off the ford line is $26k When it reaches dealers $90k. Greed will shut them down. I hope it bankrupts all manufacturers

@subaruamazon 4 ай бұрын

is the cost that low? does that include corporate salaries and other fixed costs? how do they come up with that number. Very interesting. they have great accountants but they usually kill great projects. your thoughts?

@nathankoroush7918 4 ай бұрын

Only at the expense of the taxpayers, they will get a good bailout with profit for the top.

@Gerisheng 4 ай бұрын

I'm not sure the details are important in this case. The historical relevance is clear - pickup trucks are dumb old tech wearing fancy new-tech clothes, and cost relative peanuts to build. The profit margins on pickup trucks are frankly shocking and always have been. That is why Chevy can afford to build a Trax that makes almost nothing. They covered the cost of a Trax with that insecure office worker who commutes to his cubicle in an $75k Sierra that cost $29K to build and sell. Nothing new here folks, it's just that other factors have made the manufacturers and dealers eat their greed as of late. The real losers are the people who really need a truck and can't afford these cash cows.

@notmyname3883 4 ай бұрын

It's not Ford's greed. It's the unions' greed. WIthout the unions, we could BUY that truck for near $26k. But we have to pay LIFELONG gold-star benefits to union mooks who can't do any other job. It's evil. But don't blame the companies. Blame those who are actually responsible...the unions.

@timewa851 4 ай бұрын

@@notmyname3883 just don't buy it, go with different brand. Ford's the worst. For decades now. Not worth the trouble even looking. Go elsewhere.

@Steve.Cutler 4 ай бұрын

I think the biggest mistake that car manufacturers made was leaning so hard into the EV market, and foucusing just on the high dollar models while moving away from lower priced cars. Theyre going to lose billions before its over. I just hope this sad excuse for a government we have now doesnt just bail them out like before.

@XcoolcoolbeansbeansX 4 ай бұрын

I think it's important to note this issue exists on a global scale. Though, our sad US government probably would contribute to corporate welfare before doing anything to protect or help consumers. Welcome to the USA.

@earlscheib7754 4 ай бұрын

The Biden administration has pushed the EV administration

@testicletanning4453 4 ай бұрын

It’s the leftists in government that are forcing a transition to EV’s.

@subaruamazon 4 ай бұрын

steve, no one can predict the future. they misjudged the market and the shortfalls of the range and the charging network. they were and are exorbitantly priced. EV's are coming but may take a while.

@conchobar 4 ай бұрын

EVs may have low demand in the US, but not so in the rest of the woeld. In 2022, 22% of all new car sales in China were EVs. China's car market dwarfs the US. Chinese automaker BYD sells more EVs than even Tesla now and they just started importing to Europe. The EU is in panic mode trying to find ways to add tariffs onto these Chinese EVs. US automakers aren't prepared to compete when BYD and other Chinese automakers start importing low priced EVs to the US.

@cameronbatko 4 ай бұрын

Auto makers got used to low interest rates for too long. Allowed them to sell whatever they wanted with whatever trim. People need affordable vehicles. I don’t need a car with all the bells and whistles.

@mcwilliams4546 4 ай бұрын

Agreed. I drive a 2019 base model(STX) F-250. Rubber floors, manual windows, gets me there and back just fine.

@D.Wagner2 4 ай бұрын

That Jeep even at 38k is 20 grand overpriced. Those cars are absolutely miserable to drive. Like a giant power wheels car.

@renardfranse 4 ай бұрын

or an amusement park bumper car

@hochhaul 4 ай бұрын

Most people are clowns that love the idea of driving a Jeep until they actually drive a Jeep. They don't ride like a Ram. They really are meant for people that drive off road more often than not.

@stephensepan291 4 ай бұрын

told you so! have always felt like driving a tractor.

@snookmeister55 4 ай бұрын

Highest inventory - Jeep

@meowkity1 4 ай бұрын

I have a jeep Patriot and it has absolutely no power

@garygage104 4 ай бұрын

Grandpa would say "what comes around, goes around"

@bretthines6893 4 ай бұрын

3 year old trucks are still 50k. A three year old truck was 50k last year…. But I keep seeing videos about how prices are CRASHING. ???

@craigerickson6308 4 ай бұрын

Stellantis is actively running dodge into the ground. But they aren't alone in the abandoning affordable car market customers. Bring back the affordable 20k or less cars and wagons with minimal gadgets. 40 mpg transportation should be made easy to get brand new and not a throw away car.

@DIVISIONINCISION 4 ай бұрын

Plenty of used VW Sportwagen TDI's that average between 40-50MPG. I own one. My other car is a Passat TDI that is also a diesel.

@danbuchner28 4 ай бұрын

Car manufacturers intentionally design cars to be cheaply made, so their profits stay exhorbantly high. If they make the cars too big, their profits go even higher. They also design them to not last more than a few years and not get good gas mileage. Adding more gadgets is yet another excuse to increase profits. There may be a few rare exceptions with companies like Tesla, Toyota, and Honda.

@winsy3138 4 ай бұрын

@@DIVISIONINCISIONVolkswagen is expensive junk

@subaruamazon 4 ай бұрын

@@DIVISIONINCISION that is a turbo diesel no? diesels have come a long way since the clacky Mercedes of the eighties. are they noisey and do they spew soot like yesteryear?

@quixomega 4 ай бұрын

@@DIVISIONINCISION Those come with diesel VW repair bills, I'd rather have a Camry Hybrid.

@calculatedspaces 4 ай бұрын

Agreed. Hold on buying cars. Hold. The power that everyday Americans have is patience & numbers. Also, aren’t we tired of being called "consumers"? The consumerism model is ineffective & dehumanizing. ✨On that note, I hope your ankle is elevated and you are rapidly healing. ✨

@TomBean-qf6zv 4 ай бұрын

Seems I heard somewhere we were also called "useless eaters"

@StarboyXL9 4 ай бұрын

@@TomBean-qf6zv Yep. Time to live up to that name!

@crtmojo2705 4 ай бұрын

A special thank you to my family; they taught me to fix my car and keep it going.

@d.s.7411 4 ай бұрын

The food industry is not recovering. I see in my area that business are shutting down because of no customers. Though this is like the 2008 Great Recession financial crisis, this one might be worse.

@paulieprinceton4550 4 ай бұрын

Restaurants are closing here in Chicago. Although Chicago is a crime ridden, high cost, bureaucratic dump, so there are many reasons.

@subaruamazon 4 ай бұрын

the big food companies like pepsi and the like are thriving. the are charging a ton for their products and skimping on the quantity.

@garyisgaming1224 4 ай бұрын

I just wanna say thank you im a 24 year old guy whos trying to get a decent car i don't need anything fancy nor can I afford it. I've been saving up whatever i can from job. Sometimes I struggle internally about will I ever get a car but listening to your videos keep me going I can see the light at the end of the tunnel i just gotta keep pushing again thank you Edit: as 3 days ago( 2/8) I'm the proud owner of a 2007 hyundai tiburon I outright bought it with my hard earned cash from a independent seller on facebook market and BOY DOES IT FEEL GOOD!!

@seth101-hv4st 4 ай бұрын

You can get a car. But you would be smart to settle for n older well maintained car until you save up some money.

@DIYDaveT 4 ай бұрын

Youth=impatience. Internalize that fact and fight it. Imagine you are 40 and mature and not in a hot hurry to do anything. Best financial advice you will ever get from a stranger. Your time WILL come. These debt Ponzis are ALWAYS stair steps up and elevator down. Always. The elevator down part is what you are waiting for. Someone has already pressed the button marked PARKING LEVEL -4 and the doors are closing. Going DOWN.

@rickreese5794 4 ай бұрын

I would check the insurance auto auctions. Had good luck with older clean rigs. Many Are charity’s listing donations. Some have Low miles and little or no damage. Take an Individual that knows what to look for, and solid rigs are available from under a $1000😊

@subaruamazon 4 ай бұрын

gary, used civic, accord, camry or corolla. make sure the engine and tranny are solid. dont worry about small dents and scratches.

@subaruamazon 4 ай бұрын

@@rickreese5794 rick how do u find insurance auto auctions. do you need a dealers license?

@thehandlesticks66 4 ай бұрын

This madness isn't just the auto industry. It seems like several industries have completely lost touch with the real market consumer's exist in.

@subaruamazon 4 ай бұрын

give examples. which industries and how?

@thehandlesticks66 4 ай бұрын

@@subaruamazon well for one, food. When I was in hs in the early 2010s you could eat like a king at fast food places. A $1 mcdouble then (which probably costs a few cents to produce with the scale mcdonalds is at) is now almost $4. Of course prices rise as time progresses, but it hasn't been all that long. Corporate need for ever expanding returns above all else a race to the bottom.

@tommurphy4307 4 ай бұрын

or the market in which real consumers exist......

@Demopans5990 4 ай бұрын

Company manager who has a finance/consulting background hires more consultants, usually various flavors of MBAs. No person with industry experience to be seen. Good thing the real world has a way of making itself known at the most inopportune time as Boeing discovered. Physics does not in fact bend to the whims of money

@BrokenhornKT 4 ай бұрын

When Ford got caught marking up the EV's by 300%, that Piss's off buyers as Well.

@nothingtoseaheardammit 4 ай бұрын

Marking up EV's by 300% ?? They're LOSING $36,000 on each EV they sell. If anything they need to mark them up MORE.

@grumpynomad3551 4 ай бұрын

@@nothingtoseaheardammitI agree. People should be paying at least $175,000 for a f150 lightning? 😂

@subaruamazon 4 ай бұрын

the lightening was absurdly priced as well as the e mustang which isnt a mustang. I have a gt. that is a mustang. e mustang is no mustang.

@conchobar 4 ай бұрын

Saying Ford loses $36k on each Mustang Mach-e is akin to sayinh that new Steakhouse down the road loses $1000 on each steak they sale. Every new business venture starts in the red.

@Thisoldhiker 4 ай бұрын

@@conchobar It took Tesla over a decade to make their first dollar of profit.

@redhed9776 4 ай бұрын

your lot has the perfect price range and quality for the majority of people. Your attitude is correct..keep doin what yer doin

@robertwright5487 4 ай бұрын

Another problem with used vehicles along with other issues is that less than 20% are maintained by their owners. It's a real crap shoot.

@subaruamazon 4 ай бұрын

my last two cars are used cars. camry and mustang gt convertible. didnt even take them to a mechanic but i do my own minor work. if u look hard, you can find them. I bought my gt FB in 2022 an my camry in 2018 CL. there are good used cars out there u have to look especially if they are hot cars like hondas and toyotas. if those are priced right and are in good condition, the sell in hours.

@Concord1595 4 ай бұрын

It was raining Benjamin back in 2020s & 2021. All the free money from the government, PPP loans, increased home equity…etc. people were throwing money to whatever price it sticks. The consequences for both the government and individuals are coming and not looking good.😢

@Dave-zl2ky 4 ай бұрын

Superbowl advertising is useless for most products and services.

@redalert206 4 ай бұрын

I live in Washington state and we had a popular car dealership that has 5 locations that went out of business the other day (Northwest Motorsports). The market is definitely turning!

@subaruamazon 4 ай бұрын

red, new car dealership? unbelievable. wow. this makes a problem for the

@subaruamazon 4 ай бұрын

new car dealerships? wow. this makes a problem for the oem's. who do they sell cars with no dealerships?

@timewa851 4 ай бұрын

drove past the Puyallup/south end HWY 167 lot. There were tiny Mom suvs last week, 1/2 trucks at best....... Went by this Sunday. Empty. All G O N E. Those Inslee Fuel /Carbon Tax Boost prices of the last year drained the truck/suv/ 4x4 buyers' wallet. Gone. All of it.

@redalert206 4 ай бұрын

@@timewa851 I usually drive by that area on my commute to work and was shocked when I saw all the cars and trucks gone lol.

@glenshepard6960 4 ай бұрын

The worst has yet to come for auto makers

@madicev8 4 ай бұрын

Dealers around me have cars on their lot almost a whole year and don't want to budge on their price, but then proceed to low ball every trade. And they wonder why nothing is moving.

@mr.shelly1812 4 ай бұрын

Greed is what people do - same thing is occurring in the housing market. Greed will determine the path we take.

@howdy4686 4 ай бұрын

It's not greed as much as it's hyperinflation. You can't print 50% of your countries' currency in 2 years and expect everything to work out.

@KM-up4xz 4 ай бұрын

They’re keeping their hopes till the last minute when the first dealerships start going out of businesses it would create panic amongst them. They gonna have to start selling Tacomas for 20k wether they like it or not

@johnnymichael1804 4 ай бұрын

No they don't and they won't. People like you can cope and seethe.

@DIVISIONINCISION 4 ай бұрын

@@johnnymichael1804 Do you understand supply/demand principle? If there is no demand, inventory sits and dealerships go out of business. If they want to remain open, they would have to lower prices. Basic concept.

@justinpennington7682 4 ай бұрын

@DIVISIONINCISION guys pissed because he got turned upside down on an impulse buy . Now he want everyone to suffer

@JoeKubinec 4 ай бұрын

DivisionIncision... your point is very valid... but I think there is an argument to be made that manufacturers are working demand pricing models that allow them to meet their revenue projections by selling fewer vehicles at higher prices. Same as airlines selling their seats. Production cuts, even at Toyota will choke supply and increase demand for the available units. Sucks for the consumer.

@DIVISIONINCISION 4 ай бұрын

@@JoeKubinec I agree, and high end buyers will buy in any market because they have liquidity. I still see it as a risky strategy.

@joshuabaker9693 4 ай бұрын

A dealership I visited this past weekend had a car advertised at $13990, I was going to pay cash, but when the guy brought out the paperwork it went to over 18k somehow. lol

@tulmenkov 4 ай бұрын

ive heard they add tons of fees and addons since they make most their money on people financing.

@joshuabaker9693 4 ай бұрын

I never told the guy I was paying cash, I must have tipped my hand though. he kept asking what I wanted my payment to be and I would tell him I wanted the out the door price first then we can talk payment.

@goodoljackburton9211 4 ай бұрын

Agreed! Final price of vehicle THEN payments.

@goodoljackburton9211 4 ай бұрын

Agreed! Final price of vehicle THEN payments.

@DIVISIONINCISION 4 ай бұрын

@@joshuabaker9693 So you walked away?

@donfinstad1685 4 ай бұрын

In my city, a long-standing Dodge/Ram/Jeep/Subaru dealership just sold out. And another Dodge/Jeep/Ram/Nissan dealership just sold. Their lots are overflowing.

@allen_p 4 ай бұрын

My heart is breaking 😂. They ripped people off for decades.

@23billd 4 ай бұрын

In deflation, consumers quickly learn to wait to buy. That's happening now.

@JimiHendrix67 4 ай бұрын

Drove by Toyota today in Rhode Island every Tundra was $70k+

@mcwilliams4546 4 ай бұрын

Ridiculous

@Christina-cb7bb 4 ай бұрын

If no one buys them, then they will have to come down. It's that simple

@mcwilliams4546 4 ай бұрын

@@Christina-cb7bb Agreed.

@sipperer 4 ай бұрын

I had a similar experience as the jeep owner that you mentioned. In May I sold a 2018 tacoma sport to Echo Park for $37000, that was $2500. more than I paid for it 5 years earlier. They started asking $38300. on their site. No sale. Over the next few weeks the price went down. The last price I saw listed on their site was $35800. Talk about a great business model.

@jackblack3886 4 ай бұрын

Great video on a serious subject. You've been preaching the same message to us consumers for a year. I'm guessing that car dealers should have been watching too!! Hope your ankle gets better soon! PS: I didn't hear the car alarm.

@steveriley1995 4 ай бұрын

I'm employed by Cleveland cliffs steel company that supplies steel for many of the new car manufacturers and I'm starting to worry some about keeping my job if the new car sales take a dump. Just shows how it rolls down hill. Great video buddy, keep it up. 😊

@theodorerinehart781 4 ай бұрын

There is strong demand for people to trade, this video is one sided, although it is entertaining

@tommurphy4307 4 ай бұрын

you've got the rust-belt road maintenance working in your favor to help all the new cars rust out even faster.

@wagyu_killer 4 ай бұрын

the law of supply and demand at its finest.

@ronnymb67 4 ай бұрын

I'm in Tucson. I went to Costco yesterday. The Mercedes dealer across the street had three long rows of EQEs, etc. Took a friend to pick up their Hyundai today. A loooong row of Ionic 5s and 6s....

@subaruamazon 4 ай бұрын

dealerships are getting a one two punch with ev's especially now. the demand for the cars has waned as people encounter inconsistent recharging fees and it can take forever for these things to charge. secondly, there are gluts of all cars. ev''s are in trouble.

@voxel999 4 ай бұрын

I argue Stellantis dealers are in the biggest hole with the most oversupply. Jeep is offering $12K+ in incentives just to sell Grand Cherokees which have piled up on lots. There are even new 22s out there.

@cinder7183 4 ай бұрын

Perfect reason to keep maintaining my 1995 Mazda 4x4. Love that little truck. Cheap basic insurance, no payments.

@tommurphy4307 4 ай бұрын

also cheap, basic protection- here's hoping you don't get into a heavy rear-end hit.

@jamesgrey7483 4 ай бұрын

You know what I like about you best is that you are so honest with us and God is going to bless you for doing that

@echoeversky 4 ай бұрын

Tesla still has margins to cut and still be in double digits in profit margins. Their price setting is algorithmic, sudden, and public based on market share goals and and inventory. .

@RobGai72 4 ай бұрын

Well said

@rogerstarkey5390 4 ай бұрын

Agreed You get the best price on the day. They get their "standard markup" on that product, which they then reinvest. . What's mainly bringing the price down is their reduction in Cost of goods sold. . Those not paying attention haven't worked out that (For example) The Model 3 Highland is cheaper to produce, and even early in production they could hold prices while being profitable. . The next shock? The Gen 3 platform is rumoured (by certain reliable experts) to be *34 percent* cheaper to build. . That's going to be "a problem" for what's left of the old industry.

@beanyrice 4 ай бұрын

I got a 2019 jeep wrangler sport in november of 2019 for 32.5. It has 34k miles on it and has never been wrecked. It just appraised for 28.5. Considering i paid ttl and put 3k down on it and got 4.5% interest...it was pretty darn close to being free at this point. I owe less than 5k on it and have over 23k equity. I dont understand this crazy car market AT ALL. The math doesnt seem to be mathing anymore

@subaruamazon 4 ай бұрын

nothing makes sense post covid. take care of it. pay it off and you will have a nice asset there. 07 camry 145k. I just changed my oil at 4000 - 1000 early. i am babying it because the last thing i want to do is enter into this market. enjoy your ride. it has a lot of life left.

@chrisparker2637 4 ай бұрын

Always seem honest. Glad for your time and wisdom.

@Janet-ve5ne 4 ай бұрын

Great information, thank you for keeping people educated. Also love the bloopers.

@subieadventures777 4 ай бұрын

I've been looking at a new Subaru Forester Wilderness for a few months. In the past week I've found them with upwards of 2k discount, and 1.9% financing for 36 months and 2.9 for 48 months with great credit of course. Rarely does Subaru discount their new cars and this discount was for a 2024, so things must be getting very desperate even for them with some models.

@johncarter1137 4 ай бұрын

Isn't Cavana owned by the same father and son who owns DriveTime? I've read that their model is to make their money from the financing side and not so much from the buy/sell margin. I don't understand how they can be so far off on what to pay for a car and stay in business, though.

@cecilfletcher4404 4 ай бұрын

@Car Questions Answered, Thanks for keeping it 💯 in regards to not purchasing a car right now!

@b.w.5833 4 ай бұрын

Always appreciate the info thank you

@mackelby1 4 ай бұрын

Bet those 40% raises aren't looking so good on the unemployment line.

@Freerider93 4 ай бұрын

We're at record low unemployment.....

@mackelby1 4 ай бұрын

@@Freerider93 Biden admin lies. Seriously who would believe one stat from this admin. To do so is an exercise in Insanity.

@user-pv5ju5uo1e 4 ай бұрын

@@Freerider93 And Ford/GM made a hell of a lot of profit last year.

@MIB_Inc 4 ай бұрын

Leases are starting to looked good now. Saw many advertisements for $300 a month

@halslusher6030 4 ай бұрын

You will need a lawyer before you lease. They will screw you so bad.

@ellwoodwolf 4 ай бұрын

300 a month for a Mitsubishi Mirage... 3500$ down, 84 months.....

@mindfullymellow2323 4 ай бұрын

Understand how residual value and money factor work before you lease. Those ads for $300 a month are typically based on customers with the best credit scores.

@samgford 4 ай бұрын

@@mindfullymellow2323and money down. I'm not against leasing. I do it quite often, but you have to do your homework to make sure it works for you.

@KateGrace2590 4 ай бұрын

Love your videos- the down to earth vibe is great! 👍

@joefergerson5243 4 ай бұрын

Thankyou for sharing your experience and knowledge 👍👍👍

@Rashuge 4 ай бұрын

In western WA northwest motor sports and large 4 location used car dealer their slogan was "Trucks Trucks, and More Trucks" just closed up shop

@subaruamazon 4 ай бұрын

New car dealership? wow.

@Rashuge 4 ай бұрын

@subaruamazon no like I said they were a used car dealer

@tommurphy4307 4 ай бұрын

"bills, bills, and more bills"

@dmark6699 4 ай бұрын

Maybe Carvana makes money by losing money?

@deanrotering879 4 ай бұрын

That carvana example was really amazing. Good video. That was nuts.

@carquestionsanswered 4 ай бұрын

Glad you liked it!

@markreminger447 4 ай бұрын

Thanks for your honesty, I'm subscribed !

@carquestionsanswered 4 ай бұрын

Thanks for the sub!

@richardlaing8536 4 ай бұрын

I am glad people have stopped buying cars and trucks. Not to punish dealerships but the automotive industry’s have to understand prices are ridiculous over priced. Drop prices and customers will buy them!

@jwetzel3141 4 ай бұрын

Ford will have to rent time on the Hubble telescope just to detect Tesla’s tail lights at this point.

@UncleJam5624 4 ай бұрын

Tesla profit margins dropped the last quarter and the stock is down about 22 percent for the month the direct opposite of Ford.

@jwetzel3141 4 ай бұрын

@@UncleJam5624 ha. Nope. Ford is not even a player in EV anymore. Plus, Tesla is way more than a car company.

@w.kentcarneal6998 4 ай бұрын

Thanks for the insider view into the market, much appreciated!!

@carquestionsanswered 4 ай бұрын

You bet!

@dwighterickson6121 4 ай бұрын

Just watching your background during the vids, you got some decent looking vehicles. I enjoy your vids!

@snookmeister55 4 ай бұрын

Christmas tree still up? No problem. Studio looks good.

@notmyname3883 4 ай бұрын

In the Catholic church, it is STILL CHRISTMAS!

@asajayunknown6290 4 ай бұрын

The prices of new cars have been jacked up to help finance their EV development, at the legacy manufacturers at least. The legacy makers have also shot themselves by chasing the limited "affluent" consumer. The ones who can afford a $1000+ monthly payment (car+insurance). There aren't that many of us.😊. And, part of why we can afford something like that is because we don't "need" it. I recently decided a 2003 with low mileage ($20k after all deferred maintenance, and upgrades) was a much better deal than brand new for $70k. I'll easily get another 200k out of the '03.

@aar7149 4 ай бұрын

I bought my current vehicle used it is now payed off as of last year I had to put some maintenance and repair money in but still cheaper than a new car payment. I could never bring myself to invest in a brand new one at the inflated cost of these newer vehicles.

@nicholasreed4001 4 ай бұрын

These companies got government money to push ev's out. Just like all the new chip and battery plants are almost entirely financed by the government. Socialism for the companies and we get to starve in a studio apartment that's $1500 a month.

@Ms.TeeVega 4 ай бұрын

Thanks for your honesty 😊

@juliussmith4001 4 ай бұрын

Great video and channel. Thank You

@larslan1975 4 ай бұрын

Hopefully by the end of summer we’ll see lower prices!

@jimkelly4214 4 ай бұрын

By the end of winter is better 😁.

@rdc8813 4 ай бұрын

Lower prices is already happening in a lot of markets, if not most markets. Though I'd also wait another year, perhaps at least until the end of 2024 to seriously look at purchasing a vehicle if you can afford to wait that long. In my opinion most used cars are a minimum of $10k to $20k overpriced...especially the ones that have over 75k miles. Thank God for interest rates going back up as it's made borrowing money much more difficult which is helping to curb the price gouging for large ticket items.

@user-lh1ss1fp5q 4 ай бұрын

Be careful when doing business with an individual or company that is going bankrupt. Bankruptcy law requires all monies paid out by a bankrupt entity to SEEK THE RETURN OF ALL MONEY THAT LEFT THE COMPANY 90 DAYS PRIOR TO THE BANKRUPTCY DECLARATION. You could sell a vehicle to Carvana and get paid for it. Then if the company files for bankruptcy you can be forced to give the money back to the bankruptcy court. The settlement can take 20 years before the money is dispersed by the bankruptcy court.

@subaruamazon 4 ай бұрын

I got screwed in my 401 when hertz went under. my shares were worthless yet hertz reissued shares and they are at 10 bucks a share. what a scam.

@autoglassmike 4 ай бұрын

You’re awesome man!Great info and your forecast is always accurate. That’s a hard thing to do. It shows your knowledge and experience. 👍

@carquestionsanswered 4 ай бұрын

I appreciate that!

@PureDWhiteCloud 4 ай бұрын

Same with the Christmas ads. Almost no car commercials. Years past they were MADDENING!

@rwdplz1 4 ай бұрын

They knew the consequences of their actions, and it's time to pay up.

@frederickdefeo3768 4 ай бұрын

Problem is, during the pandemic and shortly thereafter, there were no consequences. They thought that was going to last forever, and sure enough, here they go.

@eugenefirebird8938 4 ай бұрын

That used jeep is worth $25k. They lost $20k on the transaction. They will soon fold completely. In business, you must know the market and not pay more than that price.

@user-gt2fc9sf8h 4 ай бұрын

Its really weird how this popped up on my notifications. I was thinking yesterday how I should purchase me a really nice car and then today this pops up. I didn't do any searches anywhere it was merely a thought. Thank you for the information.

@alicegilbert4186 4 ай бұрын

Thanks for you honesty

@raydemarco427 4 ай бұрын

I enjoy the show. I wonder if people are just not interested in new vehicles anymore. The best quality vehicles have been built in the past. Cars are more expensive while being cheap and more disposable now. Difficult and expensive to maintain. Could this be a factor?

@subaruamazon 4 ай бұрын

ray in this self indulgent country everyone wants a new car NOW. That is what got us into this mess. there were shortages. everyone wanted a new car. dealerships marked them up. now they are upside down so no one can buy. they are buried in their cars. people will always be interested in a nice new car with that new smell. dont think i will ever buy a new car.

@Rhondaandjames 4 ай бұрын

Been telling people for years, a 1.8l NA corolla is way better for the environment than an EV. Not only because of the terrible environmental impact of the battery production but mainly because the Corolla will last more than twice as long with decent maintenance.

@subaruamazon 4 ай бұрын

07 camry 145k with the oil burner engine. I hear that 1.8 is one of the best engines toyota ever made.

@JP-uy9kq 4 ай бұрын

I am not even into cars that much, but I really enjoy your channel and crossover material with other youtubers. Thanks for keeping us informed. Looks like shit is going to hit the fan in 2024. Suscribed

@horrorislander 4 ай бұрын

I hope your ankle gets better soon. Thanks for the update!

@carquestionsanswered 4 ай бұрын

I appreciate it!

@josephkelleher8820 4 ай бұрын

There are still good new car dealers in the United States but for the most part I hope most new car dealers go out of business because of their greed and all the junk fees they try to pass on to the consumer. Any customer that pays these junk fees are screwing it up for the rest of us that know better and refuse to pay these junk fees. There are a lot of people who believe that A DOC fee is a legitimate fee but it is NOT. It is a junk fee. When you buy a new car you only pay the negotiated price plus the sales tax, registration, and title fees. You should check with your local DMV as to the registration and title fees before buying the car.

@subaruamazon 4 ай бұрын

jose reading that new car dealerships are going under. I guess they believed that they had a recognizable brand and they are a semi monopoly in their territory. in short they were greedy and believed they were invincible. guess not. I bought my 07 camry in 2018. went to a few new car dealerships and the unabashed greed was unbelievable. add that to a limited supply and you have a recipe for disaster. i sill am surprised dealerships will go under because they are semi monopolies.

@heyitswesty 4 ай бұрын

I did buy a car saturday. I tried to avoid it but my oldest wrecked my vehicle and I couldn't wait any longer... people buy cars out of necessity usually.

@DIVISIONINCISION 4 ай бұрын

Why are you you allowing your kids to drive your car? That is the first and most important question.

@heyitswesty 4 ай бұрын

@@DIVISIONINCISION he's almost 30 and hit black ice on the way to work, homie. We're not all in our 20s and 30s bumping around youtube...

@subaruamazon 4 ай бұрын

hey, what was the experience like? New or used? how was the price? interest rates?

@heyitswesty 4 ай бұрын

@@subaruamazon it was okay. I got a used civic for what they are worth. The dealership wasn't exactly falling all over themselves to offer any discounts. the interest rate wasn't great it was like subprime only a short while ago. When rates go down I might refi, but it won't really matter since I plan on paying the car off early anyway.

@subaruamazon 4 ай бұрын

@@heyitswesty 07 camry 145k. civics are good. i hope to keep this for a while. want to stay out of this market.

@Bobdolepineappl 4 ай бұрын

I like your videos. Thanks for giving out good information and your bloopers are awesome.😂 Keep up the good work.

@steved0603 4 ай бұрын

Sorry about the ankle, Brandon! Been there. Ugh! We live in Nashville and bought a used Lexus from a Toyota dealership in Durham last fall that we saw on AutoTrader. It took over two months to get our title and license plate from our local DMV after the dealership applied for them for us. The finance manager told me the few times they do sell cars across state lines that part is always a major headache for them. I got the idea that they dont try to encourage out of state car sales!

@BillyBobDingledorf 4 ай бұрын

"For the first time in 23 years, the top four manufacturers are not advertising in the Superbowl." Have you looked at the price of a Superbowl ad? Let's just say, it's been outpacing inflation ($7,000,000 average in 2023 for 30 seconds). Everyone should not advertise in the Superbowl. It's not just overpriced, but people care less than they used to. The Superbowl "market" needs to tank a lot harder than the car market. Sorry to hear about your ankle.

@ordinaryhuman5645 4 ай бұрын

Who could have guessed that cars would fill up lots while dealers refused to cut prices like more responsive companies, e.g. Tesla? They longer you defer adjusting, the more extreme your adjustment will have to be. If production stopped due to strikes or something that'd be one thing, but that didn't last too long.

@rogerstarkey5390 4 ай бұрын

Tesla wasn't even doing it because they had to. They were cutting prices because they said they would (ever since 2006) It's literally "The plan"....

@hochhaul 4 ай бұрын

Manufacturers spreading the costs of EV development and manufacturing onto new gasoline powered vehicles. I'm willing to bet Blackrock and ESG played a role in influencing the market as well. Same with the Biden admin.

@peterkwok9608 4 ай бұрын

I agree with you Brandon. Feel better soon on your ankle 🙏🙏

@carquestionsanswered 4 ай бұрын

Thank you Peter!

@carolmingus2754 4 ай бұрын

Thank you so much for this advice - our family is looking to buy two used cars - so we will wait a bit longer.

@rickreese5794 4 ай бұрын

GR8 news, let da rip offs Fold 💯 👍😎. 🙈

@bobbartholomew85364 4 ай бұрын

Thanks Brandon!

@carquestionsanswered 4 ай бұрын

👍👍👍

@user-ng7yi9ll5s 4 ай бұрын

great info, thanks

@elmaestro6106 4 ай бұрын

I’m listening and spreading the word. I bought a new truck in 2019 right before all this craziness and will be waiting after all this craziness to buy a pre owned vehicle.

@geirmyrvagnes8718 4 ай бұрын

One more thing about the bloodbath: It is not just about EVs. Even if you have a piston engine, on a global market you will be competing with Chinese EVs and Teslas, and they will come down in price.

@paulieprinceton4550 4 ай бұрын

Chinese EV’s are nothing more than garbage that have a tendency to burn aNd sometimes explode. Tofu dreg isn’t just construction.

@squiggyg.8415 4 ай бұрын

Carvanas liberal arts degree AI algorithm offered that much for gladiator 😎

@johnstouchpad6437 4 ай бұрын

Must be the same one Zillow used a few years back.

@frankbiz 4 ай бұрын

Thank you for a very informative honest video. 😊

@geekfreak618 4 ай бұрын

Even publisher's Clearing House isn't having a new vehicle giveaway every few months as they usually do. They started offering cash alternatives more as the dealers were charging way over sticker for vehicles like the Ford Bronco.