I need the market to crash 50% so I can buy a used Corolla with 200,000 miles for $20k.
@braetonwilson4296
Жыл бұрын
here in dallas texas, new toyota corollas are going for 5k over MSRP and dealers refusing to budge on price! Ridiculous!
@jorgetech2985
Жыл бұрын
I'm right there with you cross your fingers. 😅
@BeingMe23
Жыл бұрын
@@braetonwilson4296Shop other dealers in Texas and other states
@reverselee3218
Жыл бұрын
@@braetonwilson4296It's crazy that that's still happening. Hopefully a change is coming to stop all this greed.
@arnoldgutierrez305
Жыл бұрын
I’ll sell you my 2013 Corolla with 65k miles for $20k
@mattportnoyTLV
Жыл бұрын
I went to a dealer this weekend to check out a car. They were asking $35k, and they told me they could only finance 50%. I thought that was odd. I ran the title, and had a friend look at the wholesale report for the VIN number. Turns out it was a lemon buyback AND a collision, and wholesale was only $23k. I mentioned this info to the sales rep, who insisted they'd get $35k and then asked me to leave, LOL.
@fnuclone1229
Жыл бұрын
how many soci0paths are there in the auto industry?
@OneOut1
Жыл бұрын
@@fnuclone1229same percentage as in the customer base who made up lirs like the poster you replied ti
@willmak242
Жыл бұрын
Good job! sales reps, I wish you keep your attitude rest of the year until your store file bankruptcy🎉
@nawill9209
Жыл бұрын
Oh they thought they had a sucker. 🤣🤣🤣
@kappy555
Жыл бұрын
Shitloads@@fnuclone1229
@underachievingwatchcollect1878
Жыл бұрын
My ‘04 Accord with 260k miles will have to go another 10-40k😅! It still runs great btw.
@OneOut1
Жыл бұрын
Maybe a hundred !!!!
@codysmith9813
Жыл бұрын
I drive a 99 LT suburban with 258,000 miles still drives like it has 100k on it.
@Patburkelife
Жыл бұрын
I run a dealership specializing in these type of cars. Reliable cash car under 5k typically
@neverfold1007
Жыл бұрын
06 Camry LE gang here 😂 141k mi. runs like a beauty
@Calirado9
Жыл бұрын
99 accord 285k just did the timing belt and water pump. Ready for another 100k.
@oldfordman68
Жыл бұрын
My local Ford dealer has a NEW 2022 F150 lightning according to their website original price was $93,974 now listed for $83,995 But at that same dealership I can buy a New 2023 F150 for $49,170 I don't know about you but that $40k Difference buys a lot of gas
@charleshaggard4341
Жыл бұрын
Several years ago, I found a new car on Autotrader and drove 500 miles to pick it up. My brother bought one and drove further than that. I wouldn't buy a used car without seeing and driving it first.
@chrisg723
Жыл бұрын
Toyota will loose market share if they keep playing the "limit inventory" game. Which is odd since Toyota has historically been long term minded. We were considering a Highlander but are now looking at CX-90's instead.
@RR-bz1gx
Жыл бұрын
Yep I am no longer considering Toyota because of their shady business practice.
@rnt45t1
Жыл бұрын
Insurance is absolutely criminally insane. Mine went up 50% in a six month period. I have bare bones legal requirement liability. That's it, on a 20 year old Pontiac Vibe. Explain that!
@LuckyLopez777
Жыл бұрын
its crazy how much it has gone up
@lazstan
Жыл бұрын
It's a Pontiac vibe man. You're so at the bottom that any other car is worse. Be grateful that everyone must have it worse. Doesnt lower your cost but, good for you... enjoy your Toyota for another 100k miles
@weswest8666
Жыл бұрын
Mine has doubled since Rona too, same car and coverage with even less miles per year…
@lot2196
Жыл бұрын
@@lazstanYep, the Vibe is a Toyota Matrix. Should be a reliable ride.
@mattportnoyTLV
Жыл бұрын
Costs have gone up because the reinsurance companies are sitting on a big pile of unrealized losses caused by treasury bills. The same thing that brought down Silicon Valley Bank.
@halledwardb
Жыл бұрын
This whole market is just nuts, from bags to autos to houses. I've taught my daughters to weld, and they are also working on my 6.7 Cummins doing the turbo actuator. They are 12 and 15. 15yr old can't even drive yet, but she's kinda becoming a mechanic.
@chrismorgan5081
Жыл бұрын
I bet it's a 2015 Cummins.
@halledwardb
Жыл бұрын
@@chrismorgan5081 2016
@lgee9027
Жыл бұрын
Thats awesome!!!
@robertmunroe3976
Жыл бұрын
Well done. Mechanical skills are one way to combat the crazy car market. I’ve kept my 2000 Saturn going for 23 years(with 245K miles) with the skills & tools my dad provided. Your daughters will not only pay less for a used vehicle, but they’ll know when someone is trying to rip them off on repairs.
@TheCortez714
Жыл бұрын
It's finally going down. I've been waiting for years on the Toyota tundra 5.7 V8 to go down. Prices are finally getting reasonable. My bank Schools first federal credit union is offering me 5.99% up to 60K on a used car.
@Mr_Banker222
Жыл бұрын
You should wait. They were offering 2% when rates were low
@BetaRedActual
Жыл бұрын
i have paper work from schools first last summer that had 2.9% rates, I shoulda just pulled the trigger on something then.
@galupproperties3098
Жыл бұрын
@@BetaRedActualrates don’t matter. Just payoff the car same year. I’m driving a 2023 Prius xle. I willl have it paid off by year end.
@estebanballestero2486
Жыл бұрын
I put my 2016 Camry Le with 87k miles on Facebook market place original owner no accidents I asked for $13k and sold it in 1 day 🎉 good quality cars will go fast. CarMax had offered me 10500😂
@hartsickdisciple
Жыл бұрын
You're so right about buying cars outside your home area. I live in the Austin metro, but have almost always found better deals in San Antonio and Dallas.
@mwalsh7500
Жыл бұрын
Lucky I hope you see this. I think your one of The most honest and direct presenters of financial information bar none: I have a question that I hope you can help guess the answer to: We all face historic financial hurricane winds from auto home commercial real estate record debt defaults coming . My question what happens when people are NOT able to Find or even AFFORD auto or home insurance? Do they run naked? Are they able or even willing to Do Same if they own outright the auto or home? Paint a picture for me here or another video…… like I said how does this all end if one cannot afford insurance costs …… I am close to 70 now and I know states require insurance even if you own say an auto……. How does this end ……. Thank you interested in South Texas
@NatureRecycleFlorida
Жыл бұрын
No payments is the new flex 😂
@jorgetech2985
Жыл бұрын
This should always be the flex. I don't understand the dumbasses showing off on social media saying they're paying $1400 a month. 🤨
@reverselee3218
Жыл бұрын
@@jorgetech2985Apparently giving thousands of dollars to a bank was cool for some reason.😂
@thunderb00m
Жыл бұрын
@@reverselee3218the flex is that they are brave enough to do it. And i gotta admit its stupid as hell but brave.
@PassportBrosBusinessClass
Жыл бұрын
The walk aways from the allocations are three-fold. #1 Some people didn't want to pay the higher markups. #2 Many people didn't want to pay the higher interest on the high markups. #3 Given enough time, people's urge and desire subsides. A lot of these cars aren't worth it and people had enough time to think about the deal to walk away. I am STILL waiting for my Cadillac Lyriq AWD Sport 3. It's been built (finally) and I have the VIN. Unfortunately it still has to go through quality control and could take weeks to be delivered. I look at all that money in my bank accounts and wonder if I should bother.
@HiPlains1
Жыл бұрын
Your better off with a Tesla. With the recent price drops you get a better car/value for the money. They have allot more experience with EV. GM's reliability thus far really sucks with EV. Their electricals are a nightmare. Plus you get better subsidies because Tesla mines the Li-on in the states and not China. I'm not a big fan of EV but if I did its a no brainer. That's why Tesla is likely to drive Ford/GM out of that sector. Ford already lost 6 billion on EV and lose 30K on everyone they build. GM ain't much better. I don't think they know what they are doing. Plus they will depreciate allot faster then an ICE car. And you got to replace tires all the time as the battery packs add thousands of lbs of weight. They are heavy ass tanks they are. And not clean as you have to drive it 36K miles before its cleaner then ICE. That's how dirty they are to build. Not a fan of Li-on battery tech.
@zacklewis342
9 ай бұрын
This is exactly the problem with consumer behavior. People buy using their emotions, not their brains.
@conwaystern911
Жыл бұрын
Can’t wait until next spring. Some of yall have to pay those college loans very soon. I’m looking at a Rav4 hybrid for my outdoor activities. I’d like to thank the citizens ahead of time.
@falcorzed
Жыл бұрын
People have been waiting for next spring since 2020
@justSTUMBLEDupon
Жыл бұрын
With the UAW strike, I don’t think car prices are going to go down in December like I had hoped. At this point, it’s gonna take something to break which probably won’t happen until like fall of 2024
@LotpopInc
Жыл бұрын
the prices will go down because there will not be buyers, if there is 20% less new cars due to strike, well there is going to be 30-40% shoppers
@nadruik9890
Жыл бұрын
Airlines have already stated they are losing pricing power and expecting higher gas prices to have to cut into margin. Will not be surprised to see that with autos as well and then to fix the margin layoffs will begin.
@AwakendGainz
Жыл бұрын
As an insurance broker in Canada, are biggest problem this year was vehicle theft. Insane increase in the rates of thefts and as the economy degrades more claims are made that normally wouldn’t happen so it creates this re underwriter continually on insurnace costs
@rafaelm.2056
Жыл бұрын
One of the risks of buying a used car is that I don't know if the car was a repo bought at auction. Most banks and credit unions aren't in the used car sales business but I have seen where credit unions would offer repos to their customers before sending them off to auction. The other thing is that if the car ended up being a repo then chances are that if the previous owner couldn't afford the payments then most likely they couldn't afford the maintenance. I think that the fed held interest rates way too low for too long. I grew up in a time where 25% down on a 4 year contract at 12% on a car that would barely make it through the warranty was the norm. I doubt that we would ever see free money again in the near future unless we experience another financial crisis. I'm shocked that people would even consider buying a car with 125k on the odometer. They're more risky mechanically, out of warranty, and the interior smells bad due to the sweat imbedded into the upholstery from the previous owner.
@jamesguirand8243
Жыл бұрын
A pleasure to have your video at this time
@LuckyLopez777
Жыл бұрын
thanks 😁
@RadioguyJ
Жыл бұрын
Regarding new allocations with Corvette, new Corvette prices aren’t going to drop anytime soon. Used C8 values are still very strong. Reason being….there’s nothing comparable in that segment for the money. Even with the high production volume.
@masterjackson2
Жыл бұрын
I had to walk away from my car recently because It had a ton of mechanic problems and with the car note and insurance it became unaffordable. It was a hard decision but I had to do what makes sense to keep a roof on my head. I bought a car from the auction for $2400 and never look back.
What brand was your car so that others take that into consideration when buying?
@masterjackson2
Жыл бұрын
@@nasirjan6903 The car I walked away from was a 2014 Nissan Maxima and the maintenance on it is crazy. I end up purchasing a 2010 Nissan Altima for $2400 at the auction and it drives better than The Maxima.
@Jasshands1
Жыл бұрын
one of hte biggest three banks in canada just stated they will no long be doing auto loans, the same day i got a new to me auto loan that i was going to pay off asap.
@spacejunky4380
Жыл бұрын
I love how you can holistically look at what is happening to pin point factors that can raise and lower prices. You firmly understand how the process works and it's awesome to get this insider baseball information because you are absolutely right. When one used car sells for less, the ones currently for sale are worth less, and slowly action sales will drag down the market to the point people can pay for the cars again. Super informational video! Plus, you gave reasons why it will get better!
@JackMehoff-iq5he
Жыл бұрын
I’ve been calling stealerships and offering them half of the advertised price, none have taken it yet but I’m hopeful.
@LuckyLopez777
Жыл бұрын
keep going im sure you will get a deal
@Behemoth66
Жыл бұрын
Lol that’s just stupid. Make stupid offers and you’ll get stupid responses
@Platelunchexpress
Жыл бұрын
@@Behemoth66I bet you Stan for Elliot lol
@MrSupernova111
Жыл бұрын
Hilarious! Maybe get more aggressive with them. lol
@rjobrien7805
Жыл бұрын
Checkout the comment above. Some dealer will bite and sell you a lemon.
@optimusprime1634
Жыл бұрын
Oct-Dec will be the magic months.
@thefpvlife7785
Жыл бұрын
Let's all thank those broke consumers who couldn't afford the car to begin with harming those consumers with tier 1 credit from purchasing a car at msrp.
@LuckyLopez777
Жыл бұрын
$$$$$$
@rawmean8989
Жыл бұрын
Well said!
@salimrandall
Жыл бұрын
I don’t blame the consumers. I blame the bankers. Why would you finance over 100% of what the car is worth? It’s a recipe for disaster and they know it.
@aFutureSelf
Жыл бұрын
@@salimrandallit’s 08 all over again. I still remember hearing as a kid back then “people buying things they couldn’t afford.” Same story here.
@Papolucho702
Жыл бұрын
@@salimrandallthey get their money anyway. Putting together loans out of thin air is a bank’s specialty. They mismanage everything on purpose anyway. By the time a bank closes, those who run it already left with all the funds and profits and customers are left with nothing.
@johnanderson9735
Жыл бұрын
My last purchase was a Kia Niro EV. I had $8k in equity on my trade, and Kia had a finance rate of 3.99% that I qualified for. That’s the only I will buy if the manufacturer has a sale on financing.
@ssr4656
Жыл бұрын
Sold my 2018 truck last year for an awesome profit, now waiting to buy it back for half the price! lol
@HiPlains1
Жыл бұрын
DEC or Jan will likely be the time. The economy will be in full melt down by that time.
@rotart12arx3
Жыл бұрын
Not going to happen. When was the last time you got 50 percent off?
@ssr4656
Жыл бұрын
@@rotart12arx3 I don't know, when could you buy a vehicle new, drive it for almost three years , sell it and get all you money back?
@rotart12arx3
Жыл бұрын
@@ssr4656 Well those times are gone now. Inventories are increasing and ADM is going away on many vehicles. Normal depreciation is going to happen now. EVs will drop even more.
@PassportBrosBusinessClass
Жыл бұрын
SHORT STORY: I took a friend to buy a new car. They thought their credit was strong enough to get the prime interest rate. They wanted a lease on a $32,000 crossover. This was an elderly person and they think this will be their last new car so they were willing to put down $10,000 for a 3 year lease to reach a sub-$400 monthly payment ($390) They signed up the check and everything was good, but their credit score came back 620 (low). Now this was a lease from the car dealer's bank and I assumed they could finagle the numbers. They wanted the man's daughter to cosign and she was willing to. Her credit was only marginally higher (670). He got tired of the process and threatened to walk away WITH HIS $10,000 CHECK. they couldn't convince him to have her cosign or to finance instead of lease. When he threatened to leave, they caved in and made the lease. He got what he wanted and drove off the lot in his new car. My guess is they were trying to suck more money out of him but refused to lose the sale or that $10,000 check.
@notsodelusional
Жыл бұрын
How does one have 10k liquid and a 620 credit score?
@julioalvarez9650
Жыл бұрын
@@notsodelusionalyour credit score can go down for not having any open loans to your name. Maybe ol' gramps just didn't have any CCs or a mortgage and it lowered his score?
@PassportBrosBusinessClass
Жыл бұрын
@@notsodelusional Old man
@Kawika997
Жыл бұрын
@@notsodelusionalbecause they have changed the parameters for credit scores a little while ago. The banks and the credit rating agencies are in bed together. I had a 807 credit score nothing changed in my credit profile and it dropped to 757 when they changed their scoring system so it put me from super prime to prime overnight. It’s all a scam!!
@ericelsberry5585
Жыл бұрын
Wow, still a bad deal. $60 more a month he could have bought it!
@jdub264
Жыл бұрын
The private party used car market is a roller coaster. Starting to see a little dip but people still rushing to sell their POS for a premium. I’m still hunting for a decent truck🙄
@HiPlains1
Жыл бұрын
I've seen some titans with 10K off MSRP in some parts of the country. Its a good truck but not very popular. Some of them have been on the lot for over a year.
@Four_Eyes
Жыл бұрын
Vegas car insurance rates are nearly double that of Reno - crazy.
@LicPlate8VPL158
Жыл бұрын
8:59 quite possibly the most unrealistic take on car buying. This is why we need laws in each state to prevent BS practices in the first place from dealerships. I can't wait to hand out sandwiches at the unemployment line for ex-dealership employees.
@danmastrocola3005
Жыл бұрын
The Auctions are packed
@LicPlate8VPL158
Жыл бұрын
@@danmastrocola3005 so is your mom and yet here we are 😂
@brandonburns5365
Жыл бұрын
@@LicPlate8VPL158😅😅😅😅😅
@xulshaenlightened5860
Жыл бұрын
I should’ve finished watching the video before commenting. 😹 After talking to a dealer today I think I’m probably going to keep tucking money away and wait longer, even though the Toyota I want will be in stock in the middle of October.
@jeffidubb
Жыл бұрын
I just bought out my lease 2 months ago and I got a 6.2% through my credit union and my insurance in California hasn’t changed but they aren’t writing new policies last time I talked to State Farm. But prices aren’t changing.
@margaritaortiz9379
Жыл бұрын
Awesome update! THANK YOU!! Orlando, FL
@zwhitehead403
Жыл бұрын
Okay Lucky, I have a question. This probably sounds conspiratorial and stupid to you, but I still have to ask. The big three have had ample time to negotiate a deal with the UAW, and they chose to run it down to a strike. They aren't stupid, they knew Fain wasn't bluffing, yet they held firm anyway. Is it possible the three saw their inventories piling up the last few months at dealerships and viewed this as a way to idle some plants for a few weeks (or longer) save some money on labor that was being used to pump out more cars that aren't selling and let some inventory get sold off to create another "scarcity" narrative? I hope with all my heart this wasn't something that Fain could be in on, and I'm not going to suggest that because he seems genuine. But the timing of all this is wild.
@MuniTechnology
Жыл бұрын
My family has already moved away from Toyota because of their prices.
@ericelsberry5585
Жыл бұрын
We are moving toward Toyota and Honda. We keep our cars 10-15 years and about 100k miles.
@melvinfisher643
Жыл бұрын
@@ericelsberry5585barely broke in at 100,000 for a Toyota.
@seriousbutfunny2
Жыл бұрын
Yep!!! The insurance cost are INSANE! No accidents ever! And I could not believe the cost on a 12 year old car. Ugh!
@morrismontgomery2822
Жыл бұрын
That's why I am taking your advice, Lucky....I am gonna wait as long as I can. I have a couple of dealerships calling me. It's Mazda and Mitsubishi for my truck.
@justinjex1
Жыл бұрын
I have noticed that you mention Toyota and Honda being the exception. I have been a toyota guy for over 20 years. Would you do a video on reasonable alternatives for these brands.
@oegesauto5619
Жыл бұрын
Unfortunately there is no alternative. Toyota and Hondas are the most reliable cars. Mazda are making some good cars too, would day aside from the big mistake Kia/Hyundai did with the cars being easily stolen, they are good cars. 2015 models and up
@oegesauto5619
Жыл бұрын
@darkrulier they are the most reliable. Not the only reliable.
@gustavobarrera4415
Жыл бұрын
I finally got 4k off a Toyota sienna low miles for thr year but at least at what it should actually be sold for not over priced
@vawt1953
Жыл бұрын
My dodge dealer is loaded with keeps and rams I was there for a recall and walked around it’s packed tight
@justinjex1
Жыл бұрын
PT Barnum stated there’s a sucker born every minute… Lucky Lopez states,”Don’t be that sucker”😃
@garza7676
Жыл бұрын
Thanx for taking the time to make these videos . There very informative.
@crystalkatari3618
Жыл бұрын
Thank you for all your information! Also that shirt is everything!
@planobest8120
Жыл бұрын
I was interested in the car market for over 9 months. Now I just ride a bicycle and I'm not even looking. What-ever the prices are they still aren't low enough. Getting fresh air, sunshine, exercise. Driving a car is a pain in the ass. With the insurance, the cost of gas, dealing with other assholes on the road. Bikes and trails are way better. They even have E-bikes for people who are out of shape. Car drivers are missing out on exercise and paying a lot more. Work remote bike to the grocery store as needed use public transportation. Hey with the price of groceries if you ditch the car you might be able to afford a full cart load.
@justacinnamonbun8658
Жыл бұрын
If this keeps up, I'm telling you, we're going to look like 🇨🇺. _Aceres!! Que vola con mi motor russo para el Chevrolet del 57??_ 😆 It looks like the auto manufacturers want the United States car market to resemble that of Cuba. Nobody's going to buy 💩 and just keep fixing and welding and MacGuyvering what they got.
@calvinlim9485
Жыл бұрын
So many used cars i went to go check out, despite having clean carfax, single owner, certified pre-owned, almost all showed frame damage.
@dfellb
Жыл бұрын
Drove 200 miles each way to get a New Lexus Hybrid @ MSRP. No hassle. In & Out then back home.
@loriereyes777
Жыл бұрын
Thanks!
@ky1le750
Жыл бұрын
U gotta be willing to drive. I live in LA and drove to Vegas to get a great deal on a 2016 C7 with only 10k on it.
@brunoflmg
Жыл бұрын
I've been hearing you saying the same thing since the beginning of 2022.
@deonjohnson2878
Жыл бұрын
Lucky do you think that people who bought brand new or slightly used cars are not looking for vehicles these days because I for one buy my cars to keep them so there's no need for others like me to keep switching cars every 3 or 4 years. By the way, I'm paying cash.
@SmartPracticeSuccess
Жыл бұрын
This is what I do. Drove my previous ‘02 Honda Civic LX for 18 years until January 2023. Then I bought a brand new 2023 Honda Civic Touring. Got it for MSRP (no market adjustment fees) and paid cash. No car payments! Yay! 🥳 The MSRP is inflated compared to 2019, but I don’t think pre-pandemic pricing is ever coming back. I keep my cars a long time and intend on keeping the car 12-15 years. So while it was expensive for a Civic, I’m happy with it. I see absolutely no reason to buy a new(er) car every 3-4 years if my current car is running and safe to drive.
@davidgorin2773
Жыл бұрын
Thanks for the great insights, Lucky. I have my shopping list and am amassing as much cash as I can to hit it hard in November.
@joewelnack3283
Жыл бұрын
We do not see much in the way of prices coming down. Manheim Central ran today; the number of Westlake repo units is frightening. Having said that, we don't have that much traffic anyway.
@SD-unlimited
Жыл бұрын
“Kick the can down the road” - at some point all that can kicking catches up. Welcome to that day.
@OriginalDemGunz
Жыл бұрын
So I get that I'm more the exception than the rule. I paid off my 2011 sienna I bought used in 2013 I continued to save the monthly payments. It now has 297k on it an has given me minimal issues over the last decade. It's time to buy something else but I have cash so in the case of cash buyers higher interest rates are a benefit in that they stabilize car prices or even decrease them.
@samomarmd
Жыл бұрын
Mr. Lucky is describing something akin to STAGFLATION
@davejenkins1483
Жыл бұрын
I needed a sound commuter car and found a quality 06 ford taurus with 41,000 miles for $6000. I got them down to $5700. I will never again overspend for a car. There are too many good deals out there without paying a premium for a Honda or Toyota and get nearly the same mileage for a fraction of the price.
@josephlinehan2281
Жыл бұрын
Think prices are falling now. What till blackrock and vanguard decide to liquidate their auto investments because the market had officially turned😊
@bigcrowfly
Жыл бұрын
This is the way forward for H/T. If they increased production, extra profit from selling extra cars would be more than offset by lower profits on the cars they are now selling. There are more than enough people who refuse to buy anything other than a Honda/Toyota, and have the money (and will use it) to pay any amount, and H/T and their dealers know it. Plus H/T gets $10-20k more for each 2-3 year old H/T car coming off of leases from ONLY-H/T people who now cannot afford new or can't find them new.
@HiPlains1
Жыл бұрын
Problem is the oems made more selling fewer during the pandemic. So they got that mentality stuck in their heads. They are only concerned about profits, dividends and scary Marys bonus money. Building affordable cars is no concern for them. Even though GM still owes 45 billion of the bail out money that we will never see. In return they offer a 70K dollar truck. Maybe the UAW strike will straighten out the wrongs. Move the money back to the workers instead of wallstreet.
@Medawgoner
Жыл бұрын
Will cash be king again? Looking to add a daily driver. No plans to finance a dime. Will dealers be more willing to deal in cash now, with financing getting harder?
@wespotter6985
Жыл бұрын
I own a two thousand fourteen accord. Paid nineteen thousand dollars, Local sale prices are around sixteen thousand dollars, In a normal market that car would be worth twelve if the miles were reasonable.
@colinstogner2848
Жыл бұрын
The reason auto insurance has gone up so significantly is because of litigation behind the scenes. A few years ago if you were to get in an accident, there was a 30% chance the other party would be lawyer repped within 24-48 hrs. Today there’s up to 80%-90% the other party will lawyer repped within that time frame and there is at least 1 accident every 1 minute in Texas. If you’re not driving around with at least a $1M umbrella you may be screwed in today's world.
@Steve_Just_Steve
Жыл бұрын
We can thank uninsured illegal aliens and jewish lawyers.
@PJ-hi1gz
Жыл бұрын
US can be so dystopian at times
@lot2196
Жыл бұрын
No major price crash will happen. Minor fluctuations only. High prices for the foreseeable future.
@SettlingAbyss96
Жыл бұрын
I sold all my cars when the prices got really high and moved to a nearby neighborhood that’s walkable. Prices are taking so long to drop that I’ve made new habits and am used to walking, not to mention some major health issues I had have gone away. I wonder if there are other people out there in the same scenario as me and demand has been permanently destroyed because of the high prices and shady tactics.
@DMC10398
Жыл бұрын
I won’t be buying a new or “preowned car” until I can see the smoke and flames coming from most of these dealerships from my front door. Maybe at that point I’ll drive my car by and laugh at them.
@avelardovalle1121
Жыл бұрын
Buy one until your in a casket ⚰️ 😂
@jonathanvieni4067
Жыл бұрын
Lucky you should do a video of all the new C8 ZO6 corvettes that are sitting around at dealers forever because dealers are greedy and still want that crazy over sticker price. I believe they are going to take a hard hit on these cars. But who knows lol
@adubs.
Жыл бұрын
Saw a local nissan dealer advertising 0% for 36months on some garbage SUV thing. Seems like we've finally hit that breaking point.
@BillyT531
Жыл бұрын
What are your thoughts on an extended UAW strike's impact on inventory values and demand?
@chuckrann6282
Жыл бұрын
Great information. Daughter is out of lease in Nov and I’m looking to replace a 2007 Nissan. So some dealer is going to move two vehicles off their lot. Been watching your videos and the father and son channel so ready to deal. Thanks Lucky for your insight and knowledge.
@benheitkotter5129
Жыл бұрын
Lucky, maybe walk us through a potential deal or two you have been eyeing. A similar idea to when you bought the nsx or R8
@otfig896
Жыл бұрын
Dude, they are leaving Cali not for what you stated. They are mainly leaving because of the crime rates are skyrocketing. Insurance companies are losing too much money.
@lukeayliffe2914
Жыл бұрын
That’s crazy insurance. I am in the uk and pay £330 a year for a Nissan. 5 years old.
@DefinitelyNotYouThankGod
Жыл бұрын
My 2022 Scat Widebody is $107 per month/2022 Jeep Gladiator Mojave $69 per month, both have full coverage with glass.. deductible $250
@edwardroy3401
Жыл бұрын
Just bought a 2016 Porsche Cayman with 19K miles for $53K. Financed $33K at 8%
@arielgt4
Жыл бұрын
Can you provide a source for the increasing delinquency data you refer to? I’d like to dive deeper into it, I think your viewers would appreciate you putting references in the video description too. Thank you.
@KennethLeeAtLGA
Жыл бұрын
I think the insurance companies also invested in Reits and commercial property that is coming to a big loss inturn the insurance companies are raising rates because of the other losses.
@DirectAutoOutlet
Жыл бұрын
Lucky I see you and many other experts in the auto industry saying the same thing for over a year now while I'm watching auction prices going up every week and dealers paying more and more for inventory. Your logic is sound in theory but that is not what I see happening before my eyes. In my 15 years of owning my own dealership I have never seen a bigger disconnect between wholesale and retail. Dealers are paying prices consumers would not dream of paying in a million years for cars consumers wouldn't give a 2nd look to. On the retail side customers come in after watching videos like yours and offer 50% of asking price on a popular unit like a Camry, Accord or CRV when we have a margin of maybe $1200-$1500 in it. Repair bills have shot through the roof, body and paint work has shot through the roof, fuel costs, interest rates, employee payroll and everything else it takes for a dealership to run their operations. I hope KZitem is paying you well because being a auto dealer in 2023 certainly isn't...
@herrporschex
Жыл бұрын
Their is a Jeep gladiator 2022 brand new sitting on the lot that has an msrp of 58k. I wonder if they would sell it for 40k because the 2024 are about to come to the lots in a month or so.
@Mattius08
Жыл бұрын
Also I want to buy a truck and I keep telling the dealers I am going to wait. I am willing to wait until the prices are fair. Trucks are over 100 day supply right now and growing.
@timothythompson4036
Жыл бұрын
By March or April 2024 used car prices will really drop. Wait to buy.
@rotart12arx3
Жыл бұрын
No that is when car sales seasonally go up with some income tax refund thrown in.
@NoCoastPride
Жыл бұрын
Switching to Erie Insurance because they lock in the rate , although it’s 1 yr policy .
@BLAZN420_ECS
Жыл бұрын
I have Erie they jacked my rate up 30% just cause they can. I drive less than 6K miles a year.
@NoCoastPride
Жыл бұрын
@@BLAZN420_ECS Rates subject to change if you add or remove a vehicle, add or remove a driver, or change your address or the place you usually park your car. ERIE Rate Lock® does not guarantee continued insurance coverage. Not available in all states. Limited to three years in Virginia. Insured must meet applicable underwriting guidelines. Premium may change if you make a policy change.
@MichaelHumbles
Жыл бұрын
2022 Chrysler Voyager LXI with 60k miles for $22k (obvious rental sale) or 2017 Chrysler Pacifica 1 owner with 111k miles for 16k? Need family van asap, current 06 Sienna undriveable. Besides "neither" on the Chrylser, which one?
@bw8368
Жыл бұрын
Thank you lucky I'll wait till Xmas to trade in my lexus for a pole star
@fortheloveofnoise
Жыл бұрын
Why not me? I have no time to go out of state....work 7 days a week, 10-12 hours a day.
@jamesramirez5276
Жыл бұрын
I CAN afford to buy a car, however, these Prices are OVERPRICED! They can KEEP IT and go BROKE! I’m not HAGGLING either! That’s BS. Not playing Their Game!
@aim-for-greatn3z947
Жыл бұрын
I find it hard to believe people who bought cars in 2021 are upside down. Im a turo host that used to operate a fleet of 117 cars. And every single one are positive in equity! Im a turo host in N.j and NYC. and once i separated from my partner one thing i know every single car i have is positive. The issue im having is that my lease are up in November and im looking to sell all my cars to the dealers for a profit. Im probably ONLY going to keep my Corolla 🤭
@raymondreiff8170
Жыл бұрын
Thanks for this update, You're definitely on track in my opinion unfortunately, As a Honda only consumer that could of course change, FAST if this 💩 continues 🇺🇸👍
@stephenbaughman3006
Жыл бұрын
You are saying to wait till November- December...but now the UAW is striking!!! What will that do to inventory? And prices? Do a video please.
@coldjello8436
Жыл бұрын
I hope it’s Carmax that goes out of business next.
@cosmicgirl7288
Жыл бұрын
I have to agree
@rotart12arx3
Жыл бұрын
Not going to happen.
@coldjello8436
Жыл бұрын
@@rotart12arx3 why not?
@TheMGraph
Жыл бұрын
Lucky what do you think about Carvana? Do you think they go under ?
@avelardovalle1121
Жыл бұрын
Nah bro they have capital up to their eyeballs they are crooks. They were never going under.
@904eb
Жыл бұрын
Sales are slow, i have multiple vehicles priced way under retail and still can't get buyers. All cash cars under 100k miles.
@LuckyLopez777
Жыл бұрын
thanks for sharing
@Behemoth66
Жыл бұрын
Does your advice on waiting to buy include exotics such as mclarens?
@oldfordman68
Жыл бұрын
My insurance sent me the notice to raise the price the letter blamed it partly cost of repair of all the sensors in the car and increased costs then higher number of claims in my are, even though I've never had a claim.
@johncover3103
Жыл бұрын
I sold my small used dealership 6 months ago seeing the disaster that is now upon us only in my opinion to worsen.
@HELPD3SK
Жыл бұрын
I like my daily drivers to be unusual so I expect to travel as low production numbers means only a handful might be for sale in the country at any given time.
@johnpolnik
Жыл бұрын
How can you not include the impending UAW strike in this analysis?
@freemindedproductions
Жыл бұрын
Crazy to see almost the same thing happening in the US. The Dutch car market is crashing on new cars as well. Second hand not so much because a lot of people here buy a car instead of lease. Now when people have less money they buy 2nd hand or hold off. New cars are mostly company leases and companies are holding off because of the bad economy…now we have to wait and see when the mill starts turning again. Btw I have an experience insurance on my bmw G21 from 2020 and it’s $80,-! Insurance prices in the US are unreal!!!!
@juanojeda8069
Жыл бұрын
No only new Honda and Toyota, used also Toyota Honda highest even with high mileage
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