Went to a independent dealer to buy a model Y. Negotiated for hours to get to an Out the Door price to 27k so i could qualify for the used EV tax credit. They got the paperwork ready and i was about to sign but realized they added 4k to the price trying to basically colled the EV tax for themselves. Dealer told me the OTD price was with the EV credit. Also my credit union got me a 6.49% rate and dealer wanted me to take 9.19%. So i ended up walking away and they got mad saying i wasted their time when in reality they were trying to screw me over.
@LuckyLopez7774 ай бұрын
Wow. Thanks for sharing
@Lightdog5554 ай бұрын
I thought it was 25k for the EV credit ?
@carlitoscabana71974 ай бұрын
@Lightdog555 Correct but that's why I said out the door price that includes taxes and fees. The car itself was around 24k. Taxes doesn't count to qualify for the EV credit
@Lightdog5554 ай бұрын
Thanks for the clarification
@FEDERAL_AID_RACING4 ай бұрын
Same thing happened to me. Left it on the table.
@Xander1Sheridan4 ай бұрын
we are in a depression, they just refuse to tell the truth.
@franklintejeda34724 ай бұрын
they will have to face reality at some point
@ralphholiman74014 ай бұрын
Let Trump win, and the corporate news media will be describing us as being in a depression thirty seconds later.
@rotart12arx34 ай бұрын
We are not in a depression. Unemployment would have to be 10 percent before you can say that.
@ralphholiman74014 ай бұрын
@@rotart12arx3 , the way the unemployment numbers get fudged, how would you know?
@J801994 ай бұрын
@@rotart12arx3people working 2 jobs now with lower pay that doesn’t keep up with inflation. Savings at an all time low and credit card debt at its highest. Plus it’s election year. You honestly believe those numbers??
@bigcrowfly4 ай бұрын
Inflation will disappear when people refuse to pay the higher prices. Then dealers/sellers will have to lower their prices because they won't sell their inventory.
@LuckyLopez7774 ай бұрын
very true but there is always someone dumb enough to over pay
@wlonsdale14 ай бұрын
Inflation is government induced
@Bonanzaking4 ай бұрын
It will never disappear. Just ask boomers that waited for prices to go back to sub 4k for a top trim sports car. Or 1k for a new truck. It ain’t happening.
@sam_15704 ай бұрын
In other words it'll never happen. Its like saying just stop eating so much and everybody will be slim which is true but ain't gonna happen. 😉
@ralphholiman74014 ай бұрын
It's not going down. I bought a brand new 1974 Dodge Charge for $4400. Compare that to what a new one goes for today.
@mclucky70864 ай бұрын
My daughter just returned to Vegas from Georgia after 2 years, the work just dried up. Her car insurance was $175pm and increased to $330 on her return home. Like most retirees I am on a fixed income which really means the longer you live the poorer you become. Even with an old house and car it becomes increasingly difficult to pay bills. Price of food is scary and the quantities inside the package get smaller every year. Is it any wonder that increasing numbers are giving up and sleeping in cars, vans or park benches. And isn't there better uses of the hundreds of billions of dollars lost in futile wars?
@MDTFoodAndTravel4 ай бұрын
The only certain things in life, death, taxes and the aggressive driver with no license plate is uninsured.
@Paeoniarosa4 ай бұрын
This.
@Savvynomad2254 ай бұрын
Even if you’re working and making six figures, you’re getting poorer and poorer as months go by. In just 6 months, 100k dropped to 98k, according to consumer price index… that’s fast inflation!
@lionheart934 ай бұрын
what year and model?
@phillyfathead4 ай бұрын
What!! The White House tells us everyday that the economy is great and the American ppl are living large on his “ policy’s “ but the sheep still toe the party line, very sad!
@EMichaelBall4 ай бұрын
It wouldn’t be much different under Trump; it’s a bigger problem than that. It comes down to corporate greed.
@jimmorrison21244 ай бұрын
What? Helluva alot better under Trump. The numbers don't lie!
@williamroberts87684 ай бұрын
Fast food restaurants in California will be out of business at the end of the year, the minimum wage is $20 and material cost increased too, it’s unaffordable to buy a cheeseburger now.
@DeadAir214 ай бұрын
This may be an unpopular opinion, but while the OEM’s have their fair share of blame for the un affordability crisis, but Americans too need to take their equal share of the blame. Remember when a sedan or a station wagon was all a family of 4 or 5 needed? Not only do we have to have larger crossovers, now every has to have their own full seat. We could get a minivan but we’re too prideful to be seen in one and since no one wants to make them anymore it just makes the ones that are made more expensive. And we can’t buy the base trim because that’s just too basic. We need all the features and we can’t dare have cloth seats anymore. We turned pickup trucks into luxury vehicles with the price tag to match. They wouldn’t make them fancy unless there were people demanding it. We could buy mid size trucks but were too cool for that we need big trucks on big tires so tall that any pedestrians better get out of our way. And lastly because we have to have the latest and greatest they were willing to pay 10k over sticker 2 years ago and then complain now that they’re underwater.
@sergiootero59044 ай бұрын
This opinion is unpopular amongst the group of ppl who are clamoring for student loan forgiveness. What you said is less an opinion than it is the truth. If ppl weren't buying the cars, prices WOULD HAVE TO DROP.
@langhamp89124 ай бұрын
The inability to afford a car is primarily a suburban and rural problem when there's no choice but to own a car. With no alternatives, a car is worth every penny you pay for it. HOWEVER, I don't think high car prices are a bad thing for most people; high prices on is a way of telling you that you shouldn't be buying something. The free market is very good at using price signaling to tell us that we shouldn't be buying such things. And when you look at current insurance for cars, that tells us even more that we shouldn't be buying these things if you can't afford them. Suburban and rural life is expensive because the transportation costs are so high, and having lower priced cars would still require very high insurance rates. And yet the cheap and simple economical solution...run a bus line to every neighborhood...will continue to be ignored despite Americans being increasingly unable to afford cars.
@DavGreg4 ай бұрын
A big part of the pricing are mandatory systems the feds say your car must have.
@phillyfathead4 ай бұрын
I can’t argue with you on that!
@mattyghost34094 ай бұрын
@@sergiootero5904 Spending needs to be cut ....Also wars always cause inflation especially when supply chains are forced to change...The axis of evil (BRICs) wants to ditch the USD....Anyhow I'm retiring after I cash out my crypto and moving to Thailand 😊😊😊
@FrankFernandez-l8t4 ай бұрын
$430 for groceries in one month for one healthy male adult. That’s if you only eat ramen noodles for breakfast, lunch and dinner. That’s nuts.
@John-gw4jt4 ай бұрын
You forgot about the 50lb bag of potatoes and carrots.
@teebone21574 ай бұрын
I only spend 750 total for my wife and i per month
@FullTimeRCer4 ай бұрын
I eat 2 meals per day. Breakfast, 2 pieces of sausage and 3 eggs with coffee from a 4 cup machine. Dinner is a fried pork steak and a can of black beans and Rotell heated in the skillet after. Everything I buy is walmart store brand. It costs me over $100 per week to eat. I've lost almost 60lbs eating on this budget. I can't imagine people with 2 - 4 kids eating junk food would cost. I saw a couple put $312 on a CC at Bucees this weekend for junk food and toys. America is drunk on spending.
@Wabsirba4 ай бұрын
Exaggerate much?
@daviiwonder4 ай бұрын
Your math is horrible
@kickingfatality4 ай бұрын
A friend of mine made a comment in a conversation we were having on the general state of things. He said” it almost seems like the 2020 pandemic was the start of an endgame plan ..” the more I see what played out so far the more this whole thing feels pre-planned to achieve some global goal.
@justinjex14 ай бұрын
I am a physician. I still have student loans. I drive a 2014 Prius 2. I am lucky as I am in a home. We eat hamburger and mac and cheese. After 11 years of school… it’s absolutely not worth it. I cannot image what people are living on making less than 40,000$. The issue seems to be the government wants us to suffer and to become slaves to the ultra wealthy.
@LuckyLopez7774 ай бұрын
Very true. its crazy
@superameric84 ай бұрын
I'm a 35 year auto shop owner. No college loans, high school education. Put 3 kids through college and have lived a more comfortable life than I deserve. All from owning my own property and Corp.
@shawnguy30054 ай бұрын
Former CCU-RN. understand your plight. i left the workforce 5 years ago understanding vaguely what was to come and which is upon us now. I pray you get, understand and apply the following Billionaire bit of Knowledge. SOXS, UVXY are inverse ETF's. play them against the Crypto market on the way up and then you will see if you follow through with one week / one year (MAX) for both Etf's then apply that to SHIBA INU, FLOKI, BONK, PEPE, XLM, XTZ, XRP, DOGE and others. you have till September. GODSPEED
@FrankFernandez-l8t4 ай бұрын
Welcome to the United States of Amexican. Esto se a convertido en un Comunismo!!!!!! They will wipe us all out!
@wespotter69854 ай бұрын
The voters voted in mister biden. He's average at best mediocre, mostly he is taking his marching orders from the far left marxist commun a st green new deal Dopes. You voted for high energy Prices and that pushed everything up. Oil oil is the basis of the world economy not solar power or wind. If you believe what the democrats are selling you're a fool
@Fearmocker4 ай бұрын
This made me count my blessings. Where I'm at , mortgage at 2.7% back in 15', at 960, but I add 300 just to get way ahead. car is 500, insurance is 150, no accidents/tickets ever, student loan paid off by doing pslf, my ten year was 23'. (thank God), no cc debt at all. Food is around 400 but we never eat out, cook every day, electric/gas are both crazy low, highest electric I've ever seen here was 120 in the middle of the hottest summer and gas at 110 in the coldest winter and we only have the heat/AC on a couple of months a year, the rest, it's all windows open. Thank you God for your blessings.
@sma98104 ай бұрын
Sorry but what you’re saying is: you’re poor and you’re counting your blessings? lol. I don’t want to know how boring and low level your life is. My monthly interest from my saving accounts is more than $40k/month.
@stanmarcusgtv4 ай бұрын
inflation is a tax that hits the poor the hardest
@iceman96784 ай бұрын
100%. Inflation crushes the poor and everyone on a fixed income.
@emb6474 ай бұрын
I am in the top 7% of income earners in this country and have zero debt... I drive a 10 year old car and rent a small place for a reasonable price. I am appalled by the prices of EVERYTHING. I contemplate daily on how others around me are surviving. Every company in this country is either a monopoly, or is legally allowed to prey on you. If its not one of those two, its an outright scam. The entire thing is broken Lucky. Were living in a time that will be extensivly written about in the history books of the future. Worse yet? Tougher times are ahead. Buckle up folks.
@misterbanshee79924 ай бұрын
Lol pretty soon only too 3% will afford decent living.
@GodHatesXbox4 ай бұрын
I’m a top earner as well & I have the exact same sentiment. I don’t understand how people are surviving. I have great circumstances & i can feel it in my wallet still
@DavGreg4 ай бұрын
I live in one of the least expensive paces you can live and make a solid income ($120k) and it is crazy expensive. I can only imagine what someone just getting started is dealing with -at my age the house is paid off and there is no college loan to retire. Our Federal government is borrowing roughly a Trillion USD every 100 days at the current rate under Biden. So not only are they running a deficit, they are running a massive one which is hurting everyone out there with a regular income. The interest payment on the Federal Debt is now almost $900 billion - more than the Defense Department. We are on an unsustainable path fiscally.
@PremierAutoMan864 ай бұрын
Negative equity is a massive problem. Banks lending 400% LTV (exaggeration) on Kia Tellurides is coming back to bite.
@LuckyLopez7774 ай бұрын
Facts. 100k kia's all over the road now
@packrat-y7j4 ай бұрын
So. Flash back a decade or so. It's 2010. NYC and I'm sitting there, looking at house prices, and saying to myself: 'these will never be this low again.' I eject out of my apartment, and i start living in a hotel and driving into work. I was able to save a down payment this way. I bought a house, and have had that as my backstop ever since. I would be in straight up awful shape, had i not bought this place and moved away from NYC. I do not envy those younger than me. I know how awful it was in 07-09. Today, oddly enough, seems worse.
@WTF-sh4is4 ай бұрын
This is so true! As a 2010 home buyer, I also feel this time feels so much worse!
@MoragTong_4 ай бұрын
This all started like 10-15 years ago when a new Denali started to cost the same as an Audi Q7. Now a new Jeep Grand Wagoneer is the same money as a new Range Rover....the Jeep isn't eve even on the same planet as far as luxury, features, technology,, etc., yet Jeep wants the same money. Domestic manufacturers need to take a page out of the Japanese auto manufacturers book and remember their place. A Chevy pickup should never cost as much as a 5 series BMW.
@Washedup0074 ай бұрын
Toyota is going the wrong way with some models. Check the new Tacoma pricing. You can spend $65k+ easily for a midsize truck only available with a 4 cylinder engine!
@garyday66814 ай бұрын
In fact still fixing what i own. Puting on shocks tomorrow. Gladly will pay this compared to $800 car payment plus increased insurance to pay for all the totaled out evs that I will never own.
@LuckyLopez7774 ай бұрын
$$$
@krassimirpetrov71314 ай бұрын
Same ! I’m putting new throttle body on mine tomorrow
@danibj4 ай бұрын
Same! Changing wheel hubs (myself because mechanics are nuts by charging almost $200/h).
@garyday66814 ай бұрын
@@danibj Totally get it, I have to do all my own work. I even do my own tires. There waiting lists here just to get your car looked at. About to buy bidirectional scan tool and then should be good on tools for awhile.
@DanGilliland-pi4vh4 ай бұрын
I am currently in the process of overhauling a 2004 toyota 4runner with 80 k miles on it ,one owner ,even with the parts I am doing most of the work, will be about 20% of the cost of a new one. Quality of new ones,way down,and the astronomical cost to insure, I will maintain what I have.
@BrianAlbert-hh3pi4 ай бұрын
The cost of living seems to be increasing every year, making it harder to keep up.
@AshleyKeith-vw7ws4 ай бұрын
Indeed, it's becoming quite challenging to manage expenses.
@LeahLewis-ny9iu4 ай бұрын
I've actually managed to stay ahead of the curve. I'm even contemplating early retirement.
@OliverLiam-px3vx4 ай бұрын
@@LeahLewis-ny9iu Impressive! How did you achieve that?
@LeahLewis-ny9iu4 ай бұрын
@@OliverLiam-px3vx Our family got introduced to a financial consultant”RPC WEALTH. LLC” about four years before my dad retired. That was what changed things, and I think my retirement income will be on the right track, luxury cars and trips
@JessicaKeith-uj1jq4 ай бұрын
Absolutely, RPC WEALTH. LLC” has a knack for analyzing market trends and helping clients make informed decisions.
@tcshy19034 ай бұрын
I am a single woman. I work 2 jobs and just took on a side hustle. I helped my brother pay his rent a few days ago. He was $380 short and worried about eviction. I love your channel. Thank you for the great information.
@oleradiodudea.m.47354 ай бұрын
Many of us have become the go-to bankers for hurting family menbers.
@michaelb.89534 ай бұрын
@@oleradiodudea.m.4735 So true as I find myself doing the same thing helping out a sibling. That's what family is for.
@k20z3keith74 ай бұрын
I'm willing to bet if he cut some stuff out for the month he could afford it, but shrugged his shoulders and depended on you. Better not be the norm.
@timmietz4 ай бұрын
So, I run a business business and employee about 115 people. According to my statistics, my average employee today makes about 41% more than they did Q4 2019. So, cost up for sure. But they earnings are up as well. Big time! The biggest differential is really interest rates.
@finkable4 ай бұрын
The problem is fiat money. Infinite money chasing finite resources. People are priced out, but those closest to money printer don't care.
@LuckyLopez7774 ай бұрын
well said
@HH-le1vi4 ай бұрын
While I understand what you're saying, the reality is that there's no hard assets that would even be able to back the USD and every currency in the world is fiat now.
@finkable4 ай бұрын
Any hard asset has the ability to back any fiat currency, it just requires a repricing of the asset in terms of the fiat currency, and the political will. Gold could back the USD again, it would just require the price in USD to be much higher. However, this is highly unlikely to happen because governments derive a large amount of their power by being able to control the money supply. This is why it's not about backing the USD, or any fiat, its about using an entirely different currency that cannot be manipulated or debased, like bitcoin. Which is also why most governments hate it so much because it takes away that power from them.
@HH-le1vi4 ай бұрын
@@finkable there's not enough gold in the earth or on the earth to back the dollar. And if you reprice gold to be able to back the dollar you'd have a collapsed economy due to golds industrial use. Same with most other assets, just isn't enough around to actually back it without catastrophic consequences.
@HH-le1vi4 ай бұрын
@@finkable and Bitcoin can very easily be manipulated. That's why it goes up and down drastically in a very short amount of time and Bitcoin itself is based on USD. So unless you want to do more damage then you can't really use anything like Bitcoin either.
@andredaedone77324 ай бұрын
I live in cheap South Carolina with no bills. My gas and electric bill for my house averages 77 dollars a month including fees. I am cheap and don't run my gas or air much. My property taxes are cheap at 800 a year on my brand new house. Some states are ridiculous which is why I left Florida in 2021.
@dannyjohnson96284 ай бұрын
Lucky you is 100% spot on. I make more money than the average person. I live well under my means. Everything of mine is paid off. no credit card bills and actually I make money on credit cards with the reward percentages I'm quite sure you do the same. The amount of money I'm putting in the bank for bills is insane. I have four different bank accounts and only use one for bills transfer the money from one to the next. When the government said that everybody bank accounts are drained I can see why. The account I use for paying bills drained so fast.
@qbanb85824 ай бұрын
$150 electric bill in February is realistic. $150 in June not happening unless your thermostat is set to 85 lol.
@wlonsdale14 ай бұрын
I just look At my electricity in total for the last 12 months. Average it and pay that every month.
@Mark.Taylor.4 ай бұрын
It also depends if you're all electric or if your gas and electric
@LuckyLopez7774 ай бұрын
Facts! lol
@qbanb85824 ай бұрын
@@wlonsdale1 I do the same, i have budget billing where the electric company averages it out and bills that amount.
@Matt_K4 ай бұрын
I'm in North East Florida. The power company has local monopoly but our rates are dirt cheap. We leave termostat on 75 during the day, and 77 at night. My bill is under $90 in summer months and "winter" months it's around 70
@jmarxful4 ай бұрын
I pay $106 a month for full coverage 100k/300k through progressive. That's full coverage on a 2023 VW ID4. Everyone said EVs are more expensive to insure but my insurance went down when I switched from a Rubicon Wrangler to my ID4.
@JoeFpoc4 ай бұрын
Another underlying issue is the house and car flippers. Anytime there’s a cheap house for sale in my neighborhood it immediately gets bought up by investors or house flippers and sold for more. Same with any kinda cheap vehicle they will buy it, wash it and relist it for thousands more it’s really hard to find a good deal on anything anymore. I would say just don’t pay any of these prices but when everything is crazy expensive you kinda don’t have a choice unless you want to walk everywhere or live with your parents
@rotart12arx34 ай бұрын
Sounds like you should be doing it yourself them to make some money. Can't fault people being smart and taking the risks of flipping homes.
@JoeFpoc4 ай бұрын
@@rotart12arx3 probably a little late when that line of business is already oversaturated. I'm not hating, it is what it is but one of the many reasons everything is so expensive. Anytime anything affordable or cheap pops up people instantly capitalize on it instead of someone who needs it gets it for a good price.
@radedemenes4 ай бұрын
Our shortsighted government thinks that printing money is the way to buy votes while in reality they are making the poor even poorer
@MDTFoodAndTravel4 ай бұрын
If moneys being printed excessively and the poor are being poorer doesn't that mean that the money is going to rich republicans????
@ralphholiman74014 ай бұрын
@@MDTFoodAndTravel , you really think the Democrats would be voting for all of this deficit spending if they thought it was just going to rich Republicans. Everybody who can pay off a Congressman is getting rich. Don't you think it's kind of strange that both parties are in favor of constant war? Why do you think that is?
@thedilladude4 ай бұрын
@@MDTFoodAndTravel biden is giving it to illegal aliens!
@MichaelLubes4 ай бұрын
@@MDTFoodAndTravel Hate to break it to you friend, but most of the uber rich are Lefty Tech Billionaires.
@rocsamg4 ай бұрын
@@MDTFoodAndTravel no! its going over seas and all the border jumpers, 35 trillion in debt and 25 trillion GDP, thats inflation.
@Offon_A_Boondoggle4 ай бұрын
I am a single male on SS (69 yrs) and I can’t get my groceries under $350 a month and I gave up trying to eat healthy (organic / clean) since retirement. Pre-retirement it was closer to $1,000 a month…JUST ME! Not wanting to move into low income senior housing I have opted to buy a small (32’) sailboat to live on during the Michigan summers. During the cold months I travel to Central / South America or SE Asia to live. I can live very well in a couple dozen countries on $1,500 a month.
@winssabs4 ай бұрын
Go to philippines sir, you will live like a king with your $1000/month.
@lot21964 ай бұрын
Apparently they can. GM sold 594,233 vehicles in the first quarter. Dealers aren't dropping prices because they don't have to.
@2chuck4 ай бұрын
It's no wonder sales of everything are suffering. People are tapped out and maxed out on Credit Cards. I smell Deflation ahead, prices have to drop or wages go up. BTW, I'm 75 and as often I've heard the term "Soft Landing", I have yet to ever see one.
@oldfordman684 ай бұрын
Some dealers are holding hard on the asking price for what they have, I have gone to some local dealers and offered cash for cars on their lot still within black book and KBB trade in and they said NO.
@brianshaw92474 ай бұрын
Hi Lucky...Watching you from Canada...cost of living here is driving many Canadians into poverty!
@LuckyLopez7774 ай бұрын
I have friends in toronto. there cost of living is almost double then NYC its crazy
@johnkonde19754 ай бұрын
At least you all have free healthcare. Millions of poor Americans pay high taxes and have no health insurance and huge medical bills
@rotart12arx34 ай бұрын
You are looking at old numbers for $37500. For the last quarter of 2023 according to the Labor Bureau it is $59,384. Gas hasn't tripled in the last 4 years.
@VegasSline4 ай бұрын
We did it Joe!
@LuckyLopez7774 ай бұрын
😂
@RomeoUrsu-fy9qo4 ай бұрын
You did it with Joe…not me😂😂😂😂
@glennkrings70704 ай бұрын
Add sewer bill, trash, natural gas, clothes, medical insurance deductibles, repairs and maintenance on both car and home. An average two income household can barely afford cost of living.
@prepinvest4 ай бұрын
I've got a good one for you. After income taxes my wife and I bring in $75k a year and I'm so frugal with my money that I use an app to track literally every dollar that is spent. That way I can see what percentage is taking up the most of our finances. Before inflation we were saving $1,500 to $2,000 of cash a month. And it wasnt always consistent because life happens. However, we had over $10K saved before my car accident. And so I bought her a used car for $500 a month. We moved into a shabby apartment for $500 a month that is literally fifty feet away from active train tracks. Insurance, $108/ mo Groceries $300/mo, etc. Overall my expenses were $2,700 a month (rent, food, etc combined). Now my rent is $1,000, for an apartment that has extreme water damage. $308 for insurance, everything has doubled if not tripled. We're doing self repossession on the car so I can hopefully find her a $5,000 RAV4. And I have less than $100 in my account right now.
@laser314154 ай бұрын
Bought a Used Silverado, no payment. Means no GAP insurance. No loans so reduced car insurance to $40 a month. Win win win.
@jayc47154 ай бұрын
Get a used Camry and now you'll get all those benefits plus save money on gas!
@jayc47154 ай бұрын
Buy a used Camry..get all those benefits plus less money on gas
@hunterdonnelly74224 ай бұрын
We also didn’t include, water/ sewage, gas/oil, and trash bills on this calculation. Utilities in my area are skyrocketing.
@evokeautos36884 ай бұрын
My personal full coverage insurance with $500 deductible and big coverages are between $65-80 for each of my personal vehicles in Arkansas: Range Rover, GX460, and LR4. Although I'm seeing a lot of my young customers with subprime credit getting around $300 on small sedans, also seeing quotes for $1000-1300 per month. Insurance rates are all over the board
@harrysantiago50934 ай бұрын
According to yellen we have a strong economy.
@c.b.55354 ай бұрын
I think the problem is corporate greed. Profits are at all-time highs, but at the same time, there's a repo crisis. Something has got to give.
@kyulee27584 ай бұрын
I remember how people loved it when government handed out stimulus like it wasn't going to end.
@mattportnoyTLV4 ай бұрын
Avg power bill for me is $175/mo and it’s gas/electric tied together. I’m on the installment plan so it stays the same all year. Car insurance went from $135/mo for full coverage on 2 cars to $200/mo in 1 year.
@radzer09664 ай бұрын
Prices need to come down. Not just lowering inflation.
@southpoleelvs4 ай бұрын
Phoenix resident with a house here. 850 dollar summer electric bill. Insane.
@ralphholiman74014 ай бұрын
The problem dealers are having when people start to run out of money, is that you have to pay for rent/mortgage, insurance, groceries, and power. You don't have to have a new car. I would say vacations get cut first, and new cars get cut next, out of people's budgets when times are tough.
@whatsamattayu32574 ай бұрын
My premium is $1000 for full coverage on my 2023 Kona, up 20% over last year. No tickets or claims and drive less than 8k a year.
@Unknown-sh8kw4 ай бұрын
Chinese car makers can easily bankrupt these auto companies if allowed to enter market without any restrictions
@carlosgamez62304 ай бұрын
I live In a 2 bedroom apartment In North Carolina with minimal energy usage and my bill last month was $220 a month and our rent went up to $1200 from $750. Everything is becoming way too expensive to make it in life
@Starship0074 ай бұрын
Raising minimal wage in California caused more layoffs and increased prices. People avoiding expensive McDonald’s now. Cooling economy means more layoffs
@OmniviumVelocity4 ай бұрын
Everyone hates on dealerships, for good reason, but consumers are also to blame for this. There's plenty of cheap cars on the market, but people choose to buy expensive cars anyway. Which just encourages car makers to make more expensive cars. If we stopped buying them, they would stop making them
@DiFinni4 ай бұрын
The cable bill really sucks.
@ReddingRed4 ай бұрын
We're doing fine. Driving a 2020 Range Rover and a 2023 Wildtrak. Both paid for. Our only debt is our mortgage at $2,900 per month. Our expenses are average. The choices we made decades ago are reaping benefits now. No kids, no toys, no luxury brands, no vices, and constant saving for our future.
@whatsitlike63924 ай бұрын
The two biggest things we buy are over the top crazy expensive right now. Housing and transportation and their ancillary costs. I retired in 2020 and my spending power has been greatly reduced. What has saved me? Paid for house. Paid for cars. A woodstove to heat in the winter and I collect wood from a cutting service and split it myself.
@captainnemo44224 ай бұрын
I live in South Florida and ill tell u, u need to make 200k a year minimum to have an ok life down here..a 1 bed room apartment in the suburbs is 2k a month for 770 sq ft..downtown Miami, don't even try it..
@LuckyLopez7774 ай бұрын
I like FL if you go outside Miami there are affordable spots. unfortunately there is nothing outside vegas lol
@timmietz4 ай бұрын
You need a minimum of $270K/year in Miami to have a “good” life.
@flashoflight81604 ай бұрын
The job market finally turned in March and April for everyone, not just tech. The cost of capital is killing the economy in every industry. Rates will have to drop soon to stimulate car buying, buying equipment, etc. I think it will get better but it will feel like the 1990s George Bush recession.
@LuckyLopez7774 ай бұрын
I was going to open a dealership but now im waiting cost of money is way to high
@azandy774 ай бұрын
True! I think we will see more impacts in the fall. When I think of a recession I think of the early 90's. Dealers back then couldn't move cars.
@cbowen1114 ай бұрын
I am a 77 year old retiree living in Austin, Tx. I drive an 32 year old Toyota Camry with only Collision insurance. My electric bill is about $225 per month. I have no student loans. I live in a 3 bedroom duplex and my rent is $1600. I am currently paying down my credit cards at about $1000 per month. I am married and have a combined income of about $49000. My food bill is $600- 700 per month. I have good health insurance supplied from my annuity with the state of Texas. I am OK for now.
@susanbrynt4 ай бұрын
I live in the Augusta, Maine area and live in a 2 bedroom apartment and have an electricity bill of between $45-50. Heat is provided in the rent, like most apartments in the area. I bought a new car out of necessity in September 22, because my 98 Nissan Frontier engine went kaputt. (over 2K miles). I bought a brand new Subaru Legacy for $30K. $2K down, and was able to get a loan from a local credit union for 4.25%. Car payments for me are $462/month for 6 years. I don't drive a lot, 12k miles in 18 months. Yet I am struggling. I actually feel fortunate. I believe I can get through this, even with credit debt and student loans. Still, it is much tougher now than a couple of years ago, and I cook my own meals and eat out rarely.
@jStorm753074 ай бұрын
I find it very odd, that all of the Manufactures all shifted to unaffordable models, right when we needed the affordable models... seems like a lack of vision and foresite on their part. What's your thoughts?
@EMichaelBall4 ай бұрын
They’re focused on profit, not volume. The two are not mutually exclusive.
@jStorm753074 ай бұрын
When noones buying, that profit doesn't exist.
@azandy774 ай бұрын
@@jStorm75307 The high priced, high margin vehicles are still selling in good numbers.
@Vutsman14 ай бұрын
Great summary. I feel the rate is staying high in the long run. Will go down in the short run but tick up again. Wife and I were doing the math on new and used cars as well. Incredible the cost. My lease is due and my buy out is way under it's asset value. So we are going to buy it outright. If I hand it in, I'll lose about $3000 in equity. Ain't doing that.
@SpencerCornelia4 ай бұрын
inflation is going to force all young adults into living with roommates. it's why i think rent by room is best investment strategy in real estate right now
@ReddingRed4 ай бұрын
People had roommates throughout time.
@sdrjr35623 ай бұрын
I'm in Bronx, NY & I agree with u. I still have and drive my 2007 Acura TL. I make $130k a yr & have no idea how ppl making less than me can afford a new car. I just can't see myself shelling out $400-$700-$1,000 a month for a new car with the same features as the new ones.
@richardrawson78674 ай бұрын
I buy cars @ Carmax and everything you are saying is 100% true.
@SirCarlosMusicBMI4 ай бұрын
🎉🎉🎉. You definitely nailed it with your thoughts and data provided. We are definitely in a recession ❗️ Blessings,Carlos ✝️🙏❤️😊🇺🇸
@jman4 ай бұрын
I struggled for over a decade while working two and three jobs, and going to school. Now I have a paid for house and cars. Nothing fancy, but no bank owns me.
@JeanneWright-we8dn4 ай бұрын
I agree with you! I have no idea how to figure this all out, but all of the market has to crash. When I was out of work seen a car carrier with 3 new Maverick truck, blue, black and dark red heading in way to a Ford dealer. Few ppl will be happy. Been saying, economy way out of wack.
@Johnny_Utah3334 ай бұрын
The best thing money can buy is financial freedom. There is always something you can cut to save money!
@LuckyLopez7774 ай бұрын
well said
@JeanneWright-we8dn4 ай бұрын
So sorry, not at my house, been doing those cuts. Lucky I have a good work ethic, 2 jobs I like, on Medicare, and started in 9th grade making popcorn at local theater. Own my own home and yes put 3 kids through college. Lucky is correct, it’s crazy now. We sure have increased the millionaires and billionaires in last few years in US. So 3body is making big money off what is going on. Started back in 80s but has escalated a bunch from 2018 on ward.
@dBsdecibels4 ай бұрын
Honestly, something is wrong with Vegas I think. I have a 911 (similar to R8 costs), which I've been dallying for about the past year. State Farm insurance was about $900 for six months, NOT $1k/mo as you quoted. That's INSANE. Now, my insurance is bundled with my house, and other things, which introduces some discounts. My electric bill at the highest is $220/mo. Average is closer to $180/mo. I have a 2400 sqft house in the mid-south with electric AC. Something is up with your expenses. They sound legitimately insane. That said, I'm very shielded from inflation. I have the mortgage golden handcuffs with a super low interest rate. My car is a moderately high interest rate, but doable. I paid off my student loans long ago and can't remember the last time I carried a credit card balance. I'm definitely an atypical case, but I do feel inflation and you're correct that the government is goosing the numbers. They have been for a long, long time.
@-ved894 ай бұрын
I work a union job and get paid good but these last years ALOT of us me included have gone from living comfortably on a 40 hour work week to needing to work overtime just to get by. Like many Americans I’ve been priced out of owning a home for my family of 4 (500k⬆️in Colorado) and luxury spending like vacations or shopping random items is out of the question. My new luxury spending is buying groceries. Sad times
@baldrad14 ай бұрын
Great analysis, Lucky. THANKS! Bubbles DO have to burst….
@josephweiss22714 ай бұрын
They've never been able to achieve an economic soft landing.
@LuckyLopez7774 ай бұрын
Facts!
@budalanemac31154 ай бұрын
They are flying on a rocket powered with fuel called money printing. 😅
@cocktailsat94 ай бұрын
I agree. Prices are ridiculously high. I'm in Chicagoland and they are selling two car garage Pulte tract homes for over 900K. 900!!! (that is not a misprint) We are in a bubble that will correct eventually.
@tickledpinkmist4 ай бұрын
You can’t eat a luxury car
@LuckyLopez7774 ай бұрын
Facts!
@anekinoo74 ай бұрын
Eventually people will need to live in their cars. Cars getting expensive. Housing is getting expensive.
@Mark.Taylor.4 ай бұрын
For some of these you should be using the median not the mean (average) especially for income. Also there is a difference between individual and household income.
@LuckyLopez7774 ай бұрын
I used average (singular) because median sometimes means (household) in analytics
@ericnewman65234 ай бұрын
A vast majority of people don’t have student loans, not everyone has a car note people paying over 1500 for rent or mortgage need a roommate..
@jacksondarr80404 ай бұрын
Lucky, the answer to how people can afford this is that most households have more than one person earning an income. Your rent might be $2000, but you're splitting between a couple or roommates.
@privacylock8554 ай бұрын
My retired banker friend says" When things go up fast, they tend to come down just as fast.
@MrRussianGerman4 ай бұрын
Came across a 2014 RWD full cab Toyota Tacoma with 30,000 miles on it. The dealership was asking $27,000 for it. Got to imagine the dealer probably gave them 13k for it.
@plll16454 ай бұрын
You can only have one power company, it’s a franchise just like the phone company and cable company in one area.$90 a month for power in NC on a townhouse. insurance: $230 for 3 cars full coverage, 2 drivers.
@DaveCompton51504 ай бұрын
My power bill is 14.20/month, thanks to solar panels. That amount is what ComEd charges to connect to the grid.
@PatrickAllen-yi9us4 ай бұрын
How much were the solar panels?
@DB-be9wy4 ай бұрын
@@PatrickAllen-yi9us Yeah that's what they never tell you. It takes you 15 years to recoup the cost and installation of the panels and by then the panels are shot and everything needs to be replaced. It's a zero sum gamble at best.
@DaveCompton51504 ай бұрын
@@PatrickAllen-yi9us 28K actual cost, but received 20K in state and federal incentives, so my out of pocket cost was 8K. Saving about $175/month, so about a 4 year payback.
@josephweiss22714 ай бұрын
It you go all LED lighting in your home you can trim your electric bill by about 10 %
@LuckyLopez7774 ай бұрын
I have all LED. It’s my AC
@wlonsdale14 ай бұрын
@@LuckyLopez777agreed.. From Phoenix here
@bacardiac15194 ай бұрын
You forgot the water bill, internet and cell phone bill.
@lardy23104 ай бұрын
Tesla-brand car insurance for a new Tesla Model Y is a grand total of $85/month in Nevada. This is several times lower than what we were quoted with other car insurance companies, and includes higher coverage. Just FYI.
@chriss55944 ай бұрын
Lets talk another financial! First off my average power bill is $213 a month (Wi). Ok now lets talk automotive. I have been an AUTO RECYCLER for 40... yes, 40 years. And poop rolls downhill.... (let me explain). CAR LOTS/BODY SHOPS/REPAIR GARAGES our are main line of business as we do "late model" cars not junkers. Car lots are very slow in my area. I do many of my own delivery's, not that I dont have employees. But at my age (69) its nice to just go around and talk with/maintain business relationships. Just this past week at a new car store (chevy in this case), the first word out of my contacts mouth was "they just fired a bunch of people cause it's so slow". Used cars lots are lucky to sell three cars a month... I know of some that sold NONE! Prices are an issue , so is financing. Many repair garages are also on the lo-lo. One client told me he was down 80%.... WOW! Lets talk BODY SHOPS. There are basically 2 tiers where I am. Ones that do insurance work and ones that do car lot work. Insurance shops seem to be holding their own (ish), car lot shops , not so much. I've been in some big shops that can hold 30 cars and yet only have a small hand full they are working on. Auction prices for parts cars is nuts! I can tell by many bids that a segment of cars is leaving the county (where titles dont matter much). I live in a "bill of sale" state, so those cars can never be titled here (USA). OK, see where I'm going here? Our first quarter of 2024 down 22%, an I feel I've been lucky (no pun intended). People are attempting to patch work older rides just to keep on the road. Lots of tool boxes for sale on FB market place. I could go on and on.....
@uniqu3xperience9654 ай бұрын
Power for me is like 350 new york here i drive a 1990s volvo so classic insurance is 30 a month lol car hack
@gamanshoo4 ай бұрын
2:20 that’s right. ABSOLUTE BS…I have owned my 2011 Rav 4 and 2013 kia for years…0 accidents…0 claims….driving for 20+ years…over a DECADE with the same insurer….South Florida metro area…CHEAPEST FULL COVER = $200 a month… I can’t even imagine how much more OTHERS are paying for newer financed cars, some claims, and/or less driving history… CAR INSURANCE…wait…ALL INSURANCE = LEGALIZED AMERICAN SCAMS
@martinlazar94204 ай бұрын
Just a note for 2023 the median salary was $48000. A fair bit higher than 2022 37k but on an 8k annual payments of a car, that is almost 17% of annual pay before taxes on the gross salary and auto insurance.
@CelticsWin74 ай бұрын
A person earning a median wage of $37585 annually is not paying 30% in taxes. In Nevada it would be closer to 14.64% total taxes. This includes federal, state, local, and FICA tax.
@vetdadon26214 ай бұрын
Paying $140 a month for full coverage on two vehicles, 07 xterra proa4x, and 2015 Tacoma pro. Deep South here electric bill is running. $120 to $150.
@Mernerwastaken4 ай бұрын
I actually just bought a Nissan Sentra at 23k with no money down (besides 6k for trade in) and have a $392 monthly payment. Good credit still gets you somewhere.
@jawsgreatwhite99664 ай бұрын
Here in Utah I’m on equal pay for my utilities so I pay $58 a month for electricity and $54 for natural gas. My insurance for my two cars with one being liability only and the other full coverage is $198 per month. It used to be much cheaper just two years ago.
@autobuff65984 ай бұрын
Savings under biden 😅😅😅 that shits gone
@LuckyLopez7774 ай бұрын
lol
@parker45514 ай бұрын
Before the bonkers bonanza dealers got during covid, could easily get 10% off a car plus rebates between $2500-$6000 all buyers qualify. No bs hoops.
@seanhettich43784 ай бұрын
So happy to see this video. I've been looking at these numbers myself here in real estate. The numbers make no sense. The market needs to crash.
@AnthonyWilbanks-l5h4 ай бұрын
Be careful about what you wish for...just saying!!
@jfreedom42904 ай бұрын
It’s very simple The American new Dream is you will work till you die and own nothing! The haves and have nots ! We are F! In America 🇺🇸! When 80 percent of Americans can’t afford to buy a home no more !
@twystedhumour4 ай бұрын
I disagree. I'm living the American Dream and as an immigrant, am very grateful for it. I used the basic microecon principles that I learned from college and it's made my life so much easier, even today.
@tex36874 ай бұрын
BS..... most americans like to live a life they cant afford 🙄 most cant afford a house but can afford atronomical car payments and go to the mall every weekend and get cloths and shoes they dont need.
@jasonzola35904 ай бұрын
Insurance is HIGHLy dependent on location. Vegas is many multiples of the Midwest
@originalmxg4 ай бұрын
Thats BULL!!! I live in las vegas im on the budget for my home (3 bedroom home 1700 sq ft) my budget power bill used to be under 100$ and it jumped to 201$ monthly!!! NV energy has lost its mind !!!
@rushminute4 ай бұрын
Boots on the ground commentary. Good stuff. Thanks 🍀
@janieraltreche19894 ай бұрын
The answer is the market keeps self correcting until people can afford cars