Car prices are up 40% from 2022 to today. This "crash" doesn't make them more affordable when they drop by 7%, they're still 33% overpriced.

Used car prices are still too much.

When you only buy much older cars like me; a 10 year old car is state of the art to me and seems new, and I save save save save and never have debt!

Not used but new; going out of local market is what I had to do in order to get the truck that I wanted. I told local Tucson dealers and nearby Phoenix dealers what I wanted, went through the normal back and forth with them all, and asked them to at least find me what I wanted. Nothing came up, so I searched myself around the Southern Arizona area. Found a dealer in a small town about a hundred and thirty miles away. They not only had the truck and color that I wanted, no dealer add ons and dealer Doc fees of only $195. Also got $1000 of for financing with GM Financial, which I paid off right as soon as GM contacted me. So that paid off for me, and guess where I will go back for my next truck. 🙋‍♂

If they are asking 18k for 100k miles. They are def still out of their damn minds

If you need 84 months to buy a Honda accord, you probably can’t afford it.

Good thing I listened to you and waited a year. I wanted to buy new last year but now everything is marked below msrp.

I am a SoCal independent for 5 years now. Come from Corporate America middle management. You are totally correct with 99% dealers will stick with that car they have had for 6 months. MOVE IT - GONE. MOVE ON. Alot of stupid people in the business with ego's.

“All the dealers here smoke crack…” 😂 Keep it colorful, Lucky! Excellent video. 👍

Most used good condition Japanese cars today are like gold. Toyota, Honda, Mazda, and Subaru.

I was homeless, got into drug's went to prison and then I got to know Jesus and he changed my life...Heaven came through for me in my finances too, getting $36,000 in 2months . I can support God's work and give back to my community. God is absolutely more than enough! Now I have a new identity and a child of God.

I have been in the market for over a year. I keep walking in and out of dealerships because they want to sell 2 to 5 thousand over MSRP. Thanks for educating us on shopping and buying vehicles.

Lucky, we don't care where or what backdrop you have. We just appreciate YOU giving us the knowledge we need. The location does not matter.

Car repair shops are killing it!!

Agreed, I typically have to get my cars 300-500 miles away. I make it a mini-vacation event to get a car. Good video!

Paying on a car for 8 years is crazy

It's strange to see this weird dichotomy where the top of the market is caving in, but the floor of the market is actually rising. For some perspective, I've been helping my sister shop for a car around the 10-13k range, but any cars listed in that range are very poor condition, terribly maintained, high mileage junkers. Crazy that the minimum you gotta spend to get a half decent car today is 20 grand, that's just way too much money for average people to spend

I talked to a salesperson about a car they had for 362 days. He wouldn't budge on the price. I'll talk to that person in December, I believe the car will still be there!

Local used car lot near me previously carried a good selection (35-45) of SUV's, sedans, trucks, jeeps and also had a very limited selection of U-Haul rentals available on the side. Now the lot only has a small (5-10) selection of inexpensive sedans but has vastly increased the selection U-Haul trucks, vans and trailers on the lot.

Considering the monthly payment on most cars is still almost 40 percent of 79 percent of people's income across the US it still has a long way to go.

I just tried to negotiate on 2016 ram Laramie that has been sitting for 7 months. Dealer had it listed $2500 over kbb and CarGurus value and wouldn’t budge an inch on price.

I live in Toronto ontario canada 🇨🇦 I'm noticing Honda and other dealers discounting their 2024 cars by $3-4,000 plus an interest rate of 2.99%

$189 Hyundai Ioniq 6 361 mile range. 2 year lease and FREE charging for 2 two years.

My wife and I are holed up in 2 old tahoes trying to continue to be patient. Hoping the prices continue to fall while we save cash. Problem is she’s dead set on a 4Runner and those are the last cars on earth to come down in value.

Thanks Lucky for broadening the horizons on the car market. I always enjoy your videos. I still believe we have some more fallouts not of just dealers but manufacturers as well. Stay cool up there 😁

Great material - I'm a dealer in Utah and really enjoyed your video. 18 years in the business and love changes in the market , great opportunities out there.

Used car prices I see are still incredibly high compared to pre-pandemic. Some of that is inflation and some of it is because dealers paid way too much for inventory and can’t or won’t sell at a loss to clear it. If the rental companies ever go back to selling their stock at traditional levels the market should stabilize.

My favorite car guy is back with another video! I don't need a car, but I would love to have a Lexus RX. I will be ready to buy at the end of the year. I will start looking for the ones that have been on the lot for awhile.

In Wichita, they are not budging. I've about decided to keep my 2014 ram. I've started fixing everything.

Small used car dealer in upstate NY , we have almost completely transitioned to auto repair

Always bringing us the good stuff. Excited to see the studio!

Needed a second car, got a Bz4x for $230 for 36 months.

I actually found a good deal on a convertible 2 weeks ago! The dealer was trying to sell it with all 4 shocks blown, and all 4 tires cupped. I replaced both for $1200. Why would a dealer try to sell a sporty car in that condition?

The prices for used cars are NOT expensive. The prices have dropped like crazy. I can see the difference week to week. I found your channel April/May 2023. It has blessed me. You've always right! I listened. I waited. Unfortunately, I couldn't wait any longer due to a semi driver hitting my vehicle in April 2024. I found a Nissan Murano 125K for $3800. Now I could get it for $2500 to $3000. I'm in a good market. I'm in Atlanta. I know you don't like EVs, but I will get a second vehicle. I am going to buy a Tesla Model X (year 2018-2022) with cash in about 60 - 90 days. I am excited because as you said over and over again for the last 12+ months the prices will drop. They are way more cheaper than I imagined. I'm excited. Thanks so much for passing on the knowledge.

Used Car Dealer in Northeast College Town: Last 3 months, all anyone asks for is Hondas and Toyotas under $9,000 ( people DON'T want Nissans. ) Still get phone call once a week for $3,000 Car. CDK software glitch may help us sell $12,000 to $20,000 Car if they get impatient with local new car conglomerate getting bogged down in software glitch. Waiting for people to dump ATVS, snowmobiles, and motorcycles since they lost overtime, second job. JD Power ( what banks use)prices have softened. Lucky Lopez's house has furniture! Thanks for economic update. Wait when banks release houses onto market in July! Fun times!

Here in New England, there was a 23k lease rebate on the Lexus RZ’s that were still on lots! This was for all of the new 2023 that no one wanted to buy!

I hope it keeps dropping! I want a sedan/hatchback with a stick shift.

Great information, thank you! I’m looking for 2nd vehicle for daughter …… just looking at my options for now.

if you buy ford, dodge, chrysler, and any european cars... thank you for supporting mechanics grandkids

If you are selling NICE vehicles under 15K, book prices have been WAY off for a long time in the Southeast market. Quality has been low in auctions for quite some time now in this under 15k market. So what happens when a NICE 2010-213 GMC Sierra comes through? It brings retail in the auction. Every dealer there is tired of buying junk and will pay up for a nice unit. Then customers will pour in on that unit only be to be told by the bank that they need 5k down because the book says its worth way less. I have found CARFAX retail to be the most accurate retail guide.

Currently in the process of shopping for a new car. While I haven’t decided on what make or model I am looking to get, I have been noticing the financing offers from some manufacturers. Definitely decent stuff. And yes you are correct about people caring more about their monthly payments over the actual price. Because that’s pretty much how I think about it

Nice clean trucks haven't come down much. Trucks with fixable issues have come down substantially. Used vans and minivans are still in relatively short supply and seemingly holding onto higher prices, maybe because their owners can't afford to replace them with anything. I got distracted and missed a 2013-ish F350 6.7 crew cab dually with 250K-ish miles that sold for $4500 at a contractor auction. Supposedly ran fine. But at 4500, you could justify turbo, pumps, and injectors along with a new driver's seat.

The studio is looking nice 👍

96 month payment plan is so (place f-bomb here) stupid, depending on the interest rate, you'll wind up paying twice as much when the car was new.

Not looking, Not shopping. Happily driving paid for stuff that suits the needs well.

I appreciate these regular updates on both the new and used car market.

Lucky, enjoy your videos. Wondering if you could do something about all the Chinese cars ending up in Mexico; wondering what impact this will have on the used car market. Business in Florida is very slow but that is typical during the summer. Prices at auctions for BHPH units are moderating; cars needing paint are going for under rough book.

I'm transferring my 2016 Chevy Sonic to my teenage son today. I paid $13k for it in 2017 and it's selling now for over $8k in NorCal? I was floored when I saw the comps on these, figuring out the gift value. My new car is a 2024 Acura Integra Type S. It was used 1.7k miles for $51k. Its power curve is somewhat more robust than the Sonic. Stupid grin on my face going through those gears every time.

Car payments keeps the middle class broke!!

We own our cars. If I need a car again, it’s gonna be 8-10 years old, low miles and paid for. I can find plenty of cars for a decent price. You just have to look.

I have to be patient patient and I have a pay down get rid of plan, but I’m beyond the point of owning this BMW, never wanted it this long but here I am

I'm still in the northeast and still shopping for a used truck.(for a few years already) I am seeing prices dropping a bit on FB marketplace. Dealers are at a much slower pace.

new house looks dope. Grats

The only way I've ever had a dealer lower pricing, is showing a dealer a comparable vehicle price at another big local dealer.

I’m looking at cars on carmax and they are still too much. I know they generally charge higher for the “convenience” of a no haggle online shopping experience. They are still not immune to market forces and still should generally move down with the book value as you indicated.

Guys, if everyone doesn't buy cars or houses, the market will crash. Just invest your money in food and utilities for now. Only the necessities

Hi Lucky, I enjoy your content but I prefer your desk / office as a backdrop vs your current setup

I'm looking for 2010 or later Acura TL with a manual transmission. Dealers are still asking $7K to $8K over KBB private party price.

Good advice. Thank you sir. Expect factory incentives to continue with longer terms

I spent half vs new on a '19 Odyssey Elite.

I’m happy for stumbling across your channel, however unhappy that the market has flipped like that. I’m retired and only have a monthly check . My only means of transportation has major expenses that I feel, just isn’t worth it. So, I’ve been patiently waiting for months without transportation and I’m literally not the kind of person that depends on other people. My security and independence has never been challenged like this. I only have around $6000. which won’t buy much today. I was considering a lease but my credit score is low.. I have always paid cash. Banks won’t loan on property as collateral, unless it has a house on it. My house burned down and I still live on my property, but in a little house. If I try to find a reasonable price on a vehicle, would my payments be sky high ? But most importantly, I don’t think I can get a bank to accept my application. Even with assets, a career most of my life, always paid my bills on time..and no debt..I’m up a creek without a paddle! I seriously was even considering an electric bike! (Don’t laugh) well, I’ve got to laugh, there’s a reason for everything. This has been one major enlightening experience. It certainly opens your eyes to what life’s all about.

Lucy that’s not happening here in Florida, actions price are crazy

Hi Lucky we are looking to buy but the prices here in N J are still too high we have two cars that are paid off but we are looking to trade both for a deal on a newer used so until we get a good deal we will stand pat love your vids and insights

You're right about $10k and under cars. $2k (worth) cars with +200k miles go for $4k, $7k cars going for $12k. It's the wild west right now.

12:47 great advice. Drive a little, save a lot. I imagine some dealerships strongly dislike you. 😂 Who cares. The truth hurts for a little bit, but lies last forever 😢

How to know the lowest interest rate qualified at dealer vs rate given by sells man?

Always better to buy from a private individual than a dealership

Good video 😊 but chevy Silverado duramax dully they are not lowering prices I'm in southern California never buy used cars

lol, my area dealers were used to be crap, i've even seen kia dealer put $10000 dealer markups ( trust me, we had like 4 newbies in our company like every month last year and I was also the one.) now they are all selling around MSRP, and they cracked their used car value. However, dealer on more of the country side ( where i work is at around 1hr outside of the major city as its manufacturing plant) tends to ask more and say well, we still are hard to get a good used car, and dealer that were near the major city side, and larger size were being more aggressive. and oh yeah, toyota dealers are asking still a heck more whatsoever. what a toyota there.

I needed a new(er) car and I was holding out. I got a 5 year 4.9% APR, I caved.

I think demand is there. I'm watching people all around me purchase or consider the purchase of a new car where they weren't just a year ago.

Lol! Name drops the living room😅

Makes sense to shorten those used car loans relative to new with how many things can break or not be properly maintained.

Hello love your videos lucky! what is the stock symbol you use to see what the market for used cars is doing? Thanks in advance!

I got that 0% 72 month on a new Subaru outback. I thought it was worth it.

Question: When buying a new car with a trade-in, sales tax is on the diff. My trade-in is worth $X, but the dealer says the tax savings is $Y, so we're going to offer you $X - $Y as a trade-in value. They say "with the tax savings, we're giving you $X for your trade-in." That is, they're pocketing the tax savings. Is this legit?

I am waiting for the day of reckoning in Florida. $1200 doc fees add ons like you read about. I think Florida new car dealers pay cash for their cars with no flooring lines because they have made huge money over the years and do not worry about inventory carrying cost.

Lucky bought his car in Davie, Fl ..that's where I live!! Lol😅

Kelly BB ... on east coast too

11:48 thats in a lot of places. typically has to do with income in an area

Thanks for update looking for wife a newer lease deal.

need a house tour. this looks like a classic mediterranean or possibly mexican style. they overlap in a lot of things so could be either.

Cars are sitting at the dealerships. But still dealerships are not negotiating the price!!

I am shopping for a new Lexus I am waiting on inventory to go up a bit.

Hyundai has 239 down and 239 a month lease. However, by the time we sit with the dealership psyops team, it comes to 414 down and 414 a month, including all the fees, taxes, and extras.

Any tips on how to get more lenders in our network? Is paying for CUDL worth it? A lot of them always say they are not adding new dealers or that we need to send them ridiculous amounts per deals a month.

well, in honolulu where ev's make a LOT of sense there is still a two month wait for a tesla.... which is better than it used to be.

It's been a long time since I've seen worthy used cars priced under 20k. There's a glut here and I may actually get another gently used car.

I'm shopping for new truck but it's a struggle to find a good truck for a reasonable amount of money. For a 2018 v8 f150 with 70k miles on it they want 30k I thought that trucks like that and low demand would have it priced somewhere closer to 20k. I need to know am I being unreasonable, or prices are ridiculous.

Is now a good time to get a dealers license?

Lucky been watching you on and off for years. Retired now just applied for Wholesale license, I do body work I was thinking buying beaters fixing and bringing back to auction or sell to dealers, any advise? Thanks love this channel.

Was waiting on you to drop the news on CDK GLOBAL.

Nice crib...I like the windows.

Hey guy! Have you been in the show Bar rescue?

Bring back the 4 speed stick shift !! Don’t need all that extra 💩! Get back to basics and keep it simple !!!

Hey Lucky, do you think the Chevy Dude buying a new Q8 was a good investment right now?

In Arizona, all used and new cars are a rip-off!

I was looking at some Toyota Rav4's and the new ones are 30k plus - Crazy Azz prices.

I’m looking for a new Daily driver Specifically a Ford bronco sport why are prices used the same as new .The only reason I’m looking used is the 22/23 bronco came in a specific color that matches my Shelby GT 500

I read where Tesla is dropping the price of the Cybertruck Foundation series and is going to start building the cheaper version soon.