Why Dealerships are Stupid

[@edwardbritt6773]

Be patient I haul cars for a living and I’m watching dealers filling up the lots and asking prices are ridiculous high they’re just about to get burned!

[@McCartneyville]

I am a small independent dealer in SoCal (I.E.). I am a 3rd Gen dealer and have been through economic downturns in the past. What is going on now is unprecedented. I just carry a handful of cars and strictly retail. Wholesale prices are very high and demand is waning. People want to buy but can't, etc. or they just exited the market as an abundance of caution. The next show to drop I think will be a credit crunch. The car biz is wearing very thin on me. It's not even a fun grind right now. It's just a grind. Oh and you're right. There are a lot of shady "dealers" out there just in it for a quick buck, and then burn everyone and bail, usually out of the country. The herd needs thinning.

[@LuckyLopez777]

A lot of the over night dealers should be gone by 2024 and we can get back to business

[@InternetUser._]

My beater car needs some work. Usually I’d just sell it and go buy another beater; not anymore. I’ll drive that one until it dies.

[@fishhuntadventure]

@@InternetUser._ That is almost always the least expensive means to maintain transportation

[@louishendricks-tv1sx]

I'm an abundance of caution type! I will sit on this portion of cash and continue to earn on investment. I will watch the system burn down and see what emerges from the ashes!🤣👍

[@utoob1]

I remember back in the day a dealer started bidding on a car as it pulled up (standing in front of it), bought the car, and the car drove forward and as it passed him he saw the back end literally looked like Jaws had taken a huge bite out of it. The look of shock on his face was priceless 🤣🤣🤣

[@LuckyLopez777]

Crazy

[@arkautosales6111]

Auctioneer: Sold, you can buy the other half next week!

[@lazysundayz]

My sorta red light story! Back in the early 2000's my buddy got his first-ever a new car, a Honda civic. he was so excited and I'm pretty sure he didn't really work the best deal. He had for trade an old-ass Toyota Corolla with a bunch of minor body damage in different places along with an actual tiny hole the size of a penny near the hood... We called it the speed boost. He did not expect to get much for the trade at all and he didn't try to lie about anything. Surprise when they offered him a lot more but didn't question it. He didn't buy the car in pitch darkness or anything but it was also getting dark and near end of day. A day or two after the sale he said the dealers started calling you nonstop complaining about the car damage and threatening some kind of legal mumbo-jumbo. He was a little worried at first but he just kept ignoring calls and never heard from them again.

[@Hoshimoto101]

I worked at a dealership. Literally filled with the lowest scum known to man.

[@LuckyLopez777]

Lol. Facts

[@azmike3572]

The cars or the staff? 🙂

[@m4l490n]

​@AZMike I don't think he's talking about the cars...

[@azmike3572]

@@m4l490n (I know.)

[@ef3371]

Lower than lawyers? Would surprise me.

[@markmoore1042]

This guy is a truth speaker and his knowledge is off the Charts.

[@davidcruz-mota4234]

Thank you so much Lucky! Most of my friends are not informed and disagree but I have faith that with time the sh** will hit the fan, and it’s going to smell real bad!

[@kalef1234]

Good. If most people thought a massive crash 2as coming it wouldn't, so I'll take that as a confirmation 🙏

[@LuckyLopez777]

Well said!

[@MikeT581]

Great video lucky, you hit right on the head!! Stupidity & greed will kill the dealerships.

[@LuckyLopez777]

Facts!!!

[@ChrisTopher-vs9zz]

Hi lucky you are a rare breath of freshness, honesty, and caring. I am a consumer. I've been shopping for a minivan here in Southern California for some time. Nine times out of 10 when I email the dealership to send me the Carfax, I am ignored. I can't tell you how frustrating this used car minivan shopping has become. The outright outright dishonesty of these dealers is overwhelming. It makes shopping for a used car harder to tolerate then my going to get a root canal.

[@dhrabarchuk]

Found you on KZbin today Lucky. Glad I did. You tell is like it is. And don’t hold back. Subscribed.

[@LuckyLopez777]

Thanks for watching and welcome to the family

[@mwaynem]

The best thing people can do today is to find a good mechanic if they don't already have one and keep their current vehicle maintained and wait this out. Also put the savings aside so when the market gets reasonable you will be ready.

[@BlessYourHeart254]

100 percent ^^

[@andrewle18]

I love how you keep it real and call out the dummies. Keep up the great work.

[@sebastiannieves3396]

As lucky says, we the CONSUMER set the price WE are the ones who force the price up or down, if NO ONE pays for overpriced cars NO DEALER would sell overpriced cars.

[@LuckyLopez777]

Facts!!!!

[@AJourneyOfYourSoul]

Most Americans are too stupid and don’t know how to say no, let alone actually evaluate the deal. All most people know how to do is say yes and then lie to themselves about how they had no choice or how it was a good deal when it wasn’t. This is why the dealers can rip people off all day long.

[@ghettohey2388]

Exactly. I mean this guy is talking about how dumb dealerships are. He should mention how dumb buyers are cause there are alot of dumbass buyers right now.

[@Sb129]

After 2008, I do not know how ANYONE could think a market can just keep going up forever, there is always a ceiling.

[@PonziZombieKiller]

Janet Yellen doesn't think so. Therefor it shall be with her lap dawg Jerome. 🏴‍☠️🐇🪓💩⚠️🎬💩🔥

[@Oilfieldscout]

There was a local dealer, Bart Regor, who was at the top of the world in his market. Now doing 10 years federal time and ruined a lot of good people over greed!

[@LuckyLopez777]

Damn lol

[@everardoaleman2252]

In Amarillo?

[@HH-le1vi]

There was a guy like that in central Florida. He got in huge trouble for not paying people's trades off and pocketing the cash. He had 4 dealerships and just one was selling 15 -25 cars a day on average. Now he has nothing.

[@Oilfieldscout]

Amarillo, Lubbock, Abilene, Midland/Odessa, even in DFW. He put a lot of people in jail for him.

[@gwillis01]

you have reminded me of a story of two municipal court judges riding on a train passing by a farm. The first judge says "Those sheep have such fluffy wool. They have not been sheared yet. " The second judge says "You don't know what the other side of the animal looks like."

[@Dieselman6.7]

I just found your channel today, you have great information and I am now subscribed.

[@iananderson1848]

Well said. I'm an Aussie soon to visit my lady in CA . Love your presentation. Very real. Good humour. Commercially classy too. Credibility is everything.

[@EconomicNinja]

Great video Lucky!

[@LuckyLopez777]

Thanks I appreciate it 😁👍

[@v12smooth82]

Dealers were paying full retail at this weeks auctions up here in Ontario Canada too. Even on cars that needed some reconditioning and with accident history. Makes me wonder sometimes. Great videos Lucky :)

[@LuckyLopez777]

Canada car market is insane

[@savic1984]

I am also in Ontario and my old yaris is slowly returning to stardust. I want to buy an older lexus sedan but there is nothing reasonable. I am not a rich person. 😢

[@gongolie]

It is easier to make more money buying the cars from people and selling them to dealers at the auction 🤣

[@rez1468]

@lucky Canada car market is way more insane than the insanity you explain in your videos!

[@anteater2443]

Where are the new cars in Canada? Especially Honda and Toyota? Showrooms are empty, and wait times are 2 years, then I hear they cant sell the cars in China.

[@braetonwilson4296]

I've been trying to buy a new 2023 Toyota Corolla LE base trim since the beginning of 2023. All the Toyota dealers here in Dallas Texas insist on the buyer paying 30 thousand dollars out the door including taxes and fees. They're refusing to reduce the price by even 1 dollar. 30k for a base Corolla!

[@thadlm2698]

Don’t buy it, keep walking away…

[@penny0G]

Same. DFW trying to buy a Toyota since April '22. I gave up. The weird Toyo allocation system and lack of an option to place orders added to the greed and markups. Forget it.

[@LuckyLopez777]

$$$$$

[@Crunchifyable2]

Look at Kia's if you want cheap. Toyota isn't making enough. Too much chip shortage.

[@michaelbuteau4183]

​@@Crunchifyable2 That whole chip Shortage thing I think was a Story for the most part You could walk in at any time during the pandemic up until now and buy a bcm Or PCM And they would have 10 or 15 of Them are in stock Basically the brains for the car Mostly they couldn't get stupid stuff like foam Carpet leather stuff But that's Makes it hard to make a car I guess

[@NO-yg1qm]

Thanks for the informative video. Keep up the good work hermano.

[@Redditor6079]

Imagine building a relationship with your customers and getting free referral leads instead of burning your customers on the first interaction.

[@Roonertooerrands]

Hit the nail on the head again Lucky. Same thing here in Chicago area.

[@MrD.J.]

Back when I’d actually go to the auction I’d do all my research before getting there. I’d get there the day before and go touch the car. Then auction day I’d watch the idiots buy the cars I kicked the day before. Just like you said they didn’t do any research and bough on MMR…. I’d usually start with a list of 20 or so and narrow that down to 5 or 10 at best. And I was usually looking at lease returns from MB.

[@LuckyLopez777]

Smart way to do it. These new dealers have no plans the just bid on everything

[@Author-kat]

I watch your show with my husband who is a fan. I have to say I have learned a few things and you are very knowledgeable, charismatic. Ty for sharing your knowledge. God bless you And your really funny

[@Huston3312]

It sounds like we still aren’t seeing consistently lower prices getting to the consumer. Will it ever end?

[@LuckyLopez777]

As a demand starts to lower like it’s doing right now it’s definitely going to reflect the prices. I’ve already seen on CarGurus dealer slashing prices now the taxis officially over.

[@sethpawlik]

@@LuckyLopez777 taxi season. Are the taxi companies big car buyers?😉

[@m.turnerbillingsley4471]

@@sethpawlik I think he meant "tax season" - when people get tax refunds they tend to buy cars, and that's coming to an end now.

[@chrisvig123]

Yeah it will eventually…used car sales are starting to slow quite a bit 😮

[@dennisaraujovski]

@@sethpawlik don’t be needy

[@ROMCAR.]

I do have a dealership in LA. I think the way to survive in this days is to start lowering floor lines and use more cash till the moment when you will have all cars bought in cash. Two years ago floor was cheap right now if you take percentage what charging add to additional fees you will have 20-22% real percentages. And yes prices at auctions is stupidly high never understand dealers who buy cars at auction for almost retail price

[@lazysundayz]

Something has to give. These guys can hold out for high prices all they want, but I pass by a medium size auto mall on my daily commute and there is a very noticeable build up of inventory on their lots over the past few weeks

[@sublyme2157]

Note to self, if Lucky ever walks up and asks why I did something, I screwed up.

[@gwillis01]

It is sad but true that you cannot help someone who thinks they do not NOT need any help at all because they already have things figured out. Some people are absolutely not open to suggestions. Trying to help someone who is not open to receive advice is as sensible as giving a pearl necklace to a pig.

[@michaelbuteau4183]

Lucky I love it when you get your tail feathers all bunched up Makes for a great video Keep them coming we'll keep watching

[@gwillis01]

I think some dealers are paying just any price at all just so they don't have a mere one or two cars for retail sale. It's so cringe to have a single digit number of cars for sale. It would be as shocking as walking into an American grocery store to discover that the store has only two of everything instead of ten at a minimum.

[@angelaleman3854]

I’ve been looking to buy a salvaged car for under $2000 for my first flip. But have been priced out because 93.78% of bidders are over paying at insurance auctions for cars that are already crashed and some don’t even crank over🤦

[@saab9251]

You’re about 4 years too late to find Copart or IAAI deals. I used to regularly buy salvage off there to fix for my daily drivers. Also insurance has gotten used to making tons of money on them and will refuse to sell them for final bid if you do get a deal. I won a Subaru on Copart a few years ago for $1800. Insurance said they had to have $9800 and asked what the best I could do was. I told them $1800, my winning bid. They ran it through the next week, and the week after. By the third week of less than $2000, I made a deal for $2500 to buy it finally.

[@davidhidalgo8465]

I worked for 2 dealerships for 18 months here in California back in 2018-2019. The money was good, but the environment is toxic loool everyone is trying to one up each other but the experience was the best I’ve ever had. Had the privilege to drive thousands of cars, from super cars, luxury, trucks, or basic commuters. An experience worth trying

[@AvengerAngel]

When a dealer pays $62K for a used 2021 Telluride (7,800 mi) at auction and it ends back at auction- asking $47k- that is a microcosmic example of why some dealers might be in the soup. It's not only the corner lot "Lefty's Used Cars and Loans, Buy Here, Pay Here" that have helped tank a market. The subprime market is a major player in the collapse; there is a practice of taking bundled auto loans, passing from one financial institution to another, which include some stable, non-defaulting loans (hence the small percentage of interest profit). A bank can make 2-4% on that bundle, then sell reflective as profitable; until the last lender takes the brunt of the fall. Just another day on Wall Street.

[@henriloureiro4078]

I appreciate you telling it as it is. I call it the "Thunder" dealers. They show up at the action loud and bright, overpay, run out of business in 6 months, and mess it up for people who actually know what they are doing. I've been in business for over 6 years, 15 years in the industry. We grow slowly and I'm not afraid to leave the auction with zero cars when all the dummies are overpaying for junk. Been to Vegas a lot and on occasion bought nothing and left happy. Now I'm hoping to take advantage of all the stupidity by running cars at auction here in Utah. So far so good. Would love to meet for lunch sometime when I'm down in Vegas. Cheers brother!

[@brg1708]

Lucky enjoy your content. You have the best stories. Also enjoyed debate between you, Craig, Brandon et cetera two weeks ago regarding car industry. Used car dealer in large college town in Northeast. Weather is finally breaking and getting floor traffic. 30 cars in front, another 30 in back being worked on or in the que. Since Jan 1, with exception of 4 vehicles, the rest are all small sedans (Versa, Camry, Corolla, Fit, Civic.) between $6,000 and $9,000. Good thing we have 3 Versas, 4 Camrys, 2 Honda Fits and 2 Civics in the back. 7 people in a row got turned down for financing. Most of our cars are between $11,000 and $30,000, and all our traffic is for economy cars, because people can borrow from family /friends up to $6,000 - $8000. Couple times a week people stop by looking for the $3000 car. The only mid range vehicle I can't keep in stock is '13 to '18 RAV4. People who have money are fixing their cars at our sister repair shop. Trades we are seeing are worth $200 with 200k miles, and we only take Toyota and Honda trades for parts. Hopefully summer we can sell our larger SUVs, trucks, and a couple luxury cars we have.

[@theNolanLHill]

Very well said, I am a dealer and agree 100%!

[@notsodelusional]

Lucky, thanks for keeping dealers and average joes like me informed. To the consumers: make rational decisions, and work with trustworthy people like Lucky who will provide upfront pricing and a transparent buying process. You will need to search high and low in some cases, but it's worth it. Trying to save a few bucks may end up costing you thousands if you end up at a shady dealership.

[@lyfsalgorhythm]

Far as the lighting system you are right BUT the NAAA has something right in the beginning of its ARB policy "FAIR AND ETHICAL SALE" which protects you in some instances in red and yellow light situations. "AS IS" isn't cut and dry as it, now the question is will the auction stand by the NAAA policy. I've encountered some auctions being run but dirtbags that seem to invite scam behavior their only interest is collecting fees they don't car what happens to independent dealers.

[@dwaynelasater2350]

This was so interesting and entertaining, I watched it twice. I bet you feel a lot better getting all that off your chest.

[@LuckyLopez777]

Yes I do! Lol 😂

[@McMillen330]

Great insight. I think flooring companies can be idiots also which causes even more problems. I asked for a increase last month of 50k to grab 5 more 10k cars for my lot. Their like sure he’s 100k more when really they should have turned me down for the 50k extension. Oh well cool time to grind. Excellent explanation of what it’s like being a dealer 😅

[@LuckyLopez777]

They will feel the pain doon

[@eloyruperto5016]

You are absolutely right about the dealerships... Thanks for the video..

[@LuckyLopez777]

Thanks for watching!

[@brianchung9876]

The throat cutting issue is a social issue. Few and far between are the days when you would be human and just help out your neighbor with a lead just to be nice. It’s sad.

[@gcan-ys6ev]

Lucky, you are the best. I'm not a dealer but I enjoy your content. .

[@rafaelm.2056]

I know somebody who works at a very well known dealer. He's told me so many stories about the shady things that go on at that dealer. Things like "Certified" are total BS because service is driven by commission and nobody wants to waste time on inspecting a car. Once they sold a new car that was stolen from the dealer and found months later. They cleaned it up and slapped a "Demo" sticker on it and sold it a little under MSRP. Had the buyer known it was a recovered stolen car I'm sure they would not have paid anywhere near sticker for it. I don't know if it was even reported to Carfax but even then why would a customer think to look there if they are buying the car new?

[@Zindo.Majesty.HisMajesty]

I blew the motor in my Honda Van. I started looking at new and used cars. Between Closing cost of up to $1000, MSRP+thousands of dollars for market adjustments. I put a new motor in it.

[@oleradiodudea.m.4735]

In my younger years I worked at a bank. Every prospective car dealer seeking a loan(s) came in with hat in hand. If they made money their egos usually got the best of them. I know of a couple that actually went to prison. Illegal drug use is a huge problem among dealers. Also, they can't just focus on success and profitability. They all want to be biggest guy with the biggest you know what. So sad. Real close to reals estate sales people in my estimation.

[@LuckyLopez777]

$$$

[@mustafamajeed5458]

Every word this man says is absolutely correct.

[@motorheadproductions865]

Finally someone I can somewhat relate to. Everyone is over bidding on copart for scrap metal. No way possible to get a good deal no more. I’m better off buying a running and driving vehicle with a clean title than one that has salvage title.

[@Mo_LJ]

Great video Lucky, your very knowledgeable and informative. I really enjoy watching your videos. Keep up the great work!

[@LuckyLopez777]

I appreciate that!

[@ohbahsan]

hey lucky just want to say that i've only ever bought new cars and have no desire to open a dealership but i really enjoy watching your videos keep up the great work 👍

[@IamShruggs]

Always enjoying your videos. Great golden nuggets for business owners.

[@avery4528]

Could you talk about how automakers discontinued their compact cars? It’s impossible to get a new car for cheap in the US. The Honda Fit and Toyota Yaris don’t even exist here.

[@EMichaelBall]

No money for automakers

[@paulmack1080]

Hi lucky great contact Nice to see someone like you giving good solid information. Had a couple questions for you if you ever have some time buddy let me know thank you

[@weswest8666]

Love the taunting on the wraith deal 😄

[@LuckyLopez777]

Thanks 😁

[@DayTuckErrJoobz]

You and Brandon from CarQuestionsAnswered are totally on the same page with the mission and message. You 2 could have great discussions!

[@KennyStein54]

Hey, great videos Lucky! Always enjoy your spin on the auto market!! Thank you

[@robsdeviceunknown]

I wish I could find or save the money to just start with like 10 cars under 10K. Then make a KZbin recording the entire process from who and what to learn from, the process from beginning to end. Etc. Everyone I see, and some i follow like yourself are already educated in the business and established. I really think that would be a fantastic series. I can't scale my current business any larger because of staffing. Here in GA I the quality of employees is pathetic. So I need to pursue a new business model that I can scale on my own and/or with little support from others. Eventually I want to branch out into buying broke down vehicles and fixing them up to resell also.

[@LuckyLopez777]

I actually have a lot of videos like that on my channel. I got a few new ones coming out soon to.

[@arashid8866]

Lol, u got out of control at the end of the Vid 😂🎉

[@LuckyLopez777]

Had to vent lol

[@rwdplz1]

Metro Detroit market: The dealerships are overflowing with used inventory they overpaid for, and NOW with new car inventory. But dealers are refusing to budge on the prices OR the markups, so they're just sitting on the inventory. With the banking crisis, you would think the banks would be putting pressure on the dealers to move inventory, but apparently not yet. Dealers are holding on to the model of the past 2 years like grim death, trying to force their good times to never end.

[@BlessYourHeart254]

They don’t understand supply and demand, economics 101. We consumers can refuse to buy from them.

[@anthonythevettedude8270]

Unfortunately manheim is working with other larger dealers and sellers who are passing vehicles though with no yellow light or warnings of bad transmissions! And sadly we can't test drive the cars properly to test the transmission. And on top of that smaller dealers can truly only afford the cheap red light vehicles. It's pretty much at times a loss

[@LuckyLopez777]

Facts if your franchise dealer you can get away with murder but if you’re small independent dealer, they will screw you every witch way they can.

[@arkautosales6111]

This is the way

[@mg-by7uu]

I had a dealer do this to me last year. Traded them a 458, they didn't pay it off for 2 months. I threatened legal action they paid it off that same day but for the current payoff not the original price. I had to go get them to cut me a check for the equity I had. Then they wouldn't release the title to the CU so I could title the car so I told them to take the car back and give me my money. Thats when they released the title. The dealer is HGregLux in Pompano Beach, FL

[@greghouse222]

If you can wait a few months, ordering a basic auto directly from Ford is the way to go. I ordered a Basic Ranger XLT at MSRP and go to negotiate everything before putting done my deposit. It came in at just 34K. I do not need a 70K F150 and pinstripes.

[@S44BBOI]

Anyone who buys a Ford for 34k is an idiot

[@Sachz]

34K for a ranger???? Dude overpaid

[@indycharlie]

@@Sachz IDK what a Basic Ranger is , but I know the basic Taco goes for $27,000 here in Michigan .. 34 would get you a 4x4 SR Dbl cab ..

[@randomuserame]

There are no good dealers (anymore). There are only decent salespeople who legitimately want to help you. And its 99% probably not anyone at any dealer with 100 miles of you. They're probably out of state and you can only find them if you stumble across their vids on YT ;) Still laughing at the dealer down the street that said they inspect/service all cars before they hit the lot and there was no issues on a decent sedan. Cabin noise from break in door seal, could HEAR the lack of oil changes, deck lid panel clasp undone. It's been 131 days, the "market adjustment" is +4k; down from 7k (which was over MSRP new). 5yo car, btw. Oh and dealer started bitching at me in response to google review giving others the heads up. 10/10 saved me time and money. Never going back and I hope that hill is their last.

[@sarahsalman5450]

That’s your best video Lucky

[@LuckyLopez777]

Thanks 😊

[@chefgromano5025]

Looking for used pilot or highlander with 100ish k miles. Avg price like 15k with 120k miles. I think I’ll wait 90 days and see what happens.

[@ZacharySound]

Where do you get your marketing report for cars?

[@robertdiehl9003]

Beautiful video and excellent man who speaks real life truth

[@mike6206]

From this video, it sounds like why these dealers want you in the finance office so much. The banks they deal with for car loans are the ones also giving them their floor plan credit, so it makes sense that cash is NOT king in purchasing a vehicle from their standpoint.

[@Shannon_Vlogs]

10:44 cackling! 😂😂😂 He ain’t holding back today, fellas! 😆💥

[@henrynlouisville1]

I used to work for a car dealership. My boss used to say "there is an ass for every seat" when I asked about damaged slow moving inventory.

[@utpharmboy2006]

so what im hearing is now individual non-dealers have a pretty good chance of going directly to a bank and making an offer on a repo before a dealer gets a crack at it?

[@karel6972]

We have encountered this with our Startup which is catering towards Dealers, 90% of them have no idea of any future developments or vision on how to stay relevant.

[@tonyharb9335]

Sounds like a rant from a Dealer who can't get inventory, but unfortunately you are accurate. The prices and methodology some dealers are applying to thier buying and selling is not sound enough to run a lemonade stand.

[@markmansel9899]

Lucky, Sad part is that the dealers will continue doing it every week at the auction!

[@LuckyLopez777]

Very true

[@A-Z123]

This makes sense i honestly never thought that some of these guys don't even look at the vehicle. I use my own cash no credit lines or floor plans or banks to help, and some of the vehicles that I see and except to go to maybe 3k max have gone all the way up to nearly 7k it always had me questioning how these other dealers are making money. I look over every vehicle you can't just look at one side, shouldn't this be basic knowledge!?

[@martingriggs6362]

In Ohio, there is a minimum amount of liquid assets needed to run a car dealership. I think it's $25k for used, and over $100k for new.

[@mrrtony500]

Lol😂. You stating facts. Hit the nail on the head

[@fjones1914]

Dealerships had a good run and made plenty of money. All things must come to an end.

[@justinjex1]

Looking at your playlist. Would like to see a consumer education university series. Maybe even a role-play scenario where people are in the process of buying a car and some of the curve balls and tactics with counters and when to just bail out.

[@LuckyLopez777]

That would be a great idea 💡

[@MrKoop22]

For someone who made their living and following in the car business, you sure do a great job crapping all over it. I get there are some bad places out there but still many many good places that take care of people

[@drsysop]

So many stupid dealerships in the southeast especially in South Carolina & Georgia.

[@LuckyLopez777]

What are they doing out there

[@carlandrews5810]

They're all stupid

[@drsysop]

@@LuckyLopez777 Many used car dealers are selling branded title used vehicles before they get on a Carfax & AutoCheck report as it can take up to 4 months after its been reported. New car dealers still charging way over the MSRP still & no leasing unless for a business or fleet. Not seen a $199 a month $0 down lease since 2020.

[@jacquelinelockett]

Facts. First of all they are shady liars, second of all they’re scammers. They don’t like paying sales tax. Will have you waiting for months for a title.

[@user-xk4gf9jz8c]

I have to agree, these dealers at auction have been dropped on their head as babies. No logic, no reason, no homework, they don't even realize what exactly they are buying. They just wait for someone to bid, and then just keep bidding till everyone else quits. No way they are selling these cars! Its insanity. at this point you're just buying negative equity. This is completely unsustainable. The books of some of these flooring companies have to look like a disaster, because they are ultimately holding the note. This bubble is about to pop.

[@PassportBrosBusinessClass]

I pass by the same Mercedes-Benz dealership every day and those cars are just sitting there. There’s a beautiful silver S-class that is simply sitting there, calling to me, and because these interest rates are so ridiculously high I wouldn’t even entertain it. I get emails every single day offering me up at $10,000 off of Mercedes EQS cars and because these interest rates are so high I wouldn’t even entertain them.

[@EMichaelBall]

They’d probably have to be unloaded at $40k each

[@aknorth1053]

we have had too much consolidation in the market, with many regional/local monopolies the incentive to compete has been flushed down the toilet

[@metalheadami123]

been to 3 states around me car prices are still high barely budged

[@sjay149]

Electronics: Way, way back in the seventies an electronic pocket calculator was $100 and a new car was about $7,000 (of course you could spend a lot more if you wanted). Those calculators became mass produced and now they're $4 (of course you could get a free one with a new account at all most every bank). Computers used to be $2,500 and up. Now they're under $1,000 and some are under $500. The same thing has happened to radios, network servers and data storage devices. Next will be the automobiles. A new Industry without dealers is being developed and electronic cars will become tomorrow's pocket calculator. Until then, banks are going back to a policy requiring 30 - 40% down, for every loan. The average new car is about $50k and that's about $20k down. Good luck Lucky.

[@webmastersof]

Lucky I love it when you call out the idiot assholes!!! Love it!

[@LuckyLopez777]

I enjoy it too lol

[@MTXSHO9732vV8SHO]

I see Mom and Pop Dealers holding on to Trucks that are about 140% of their actual value. I've been looking for a Full Size Crew Cab, V6 or V8 for a reasonable price for about 2 years now. I only see one about every 6 months. Last time one was available I'd just bought a 2011 Mustang Convertible V6 / 6 Speed Manual for $7,ooo

[@I-Libertine]

Unprecedented change in used and new auto market dynamics rt now. Wealthy have choice. Middle class has credit (extended to ridiculous lengths). Lower incomes already screwed. Dealers okay with low units, high margins. Manufacturers getting hurt, want to sell direct. Inevitable credit implosion may change things, but that seems years away.

[@salimrandall]

Lucky I can’t believe the amount of bad business going on. It’s not just cars it’s everything. Greed……

[@LuckyLopez777]

Very true grit is taking over a lot of industries and made him turn for the worse but unfortunately, during the recession, a lot of we’re gonna go out of business is I’m shocked to see this many bags hurting

[@loumason6120]

What's up with motor oil STARTING @ $8 a quart?

[@salimrandall]

@@Bone89 It’s easy to survive being greedy when most customers have low intelligence.

[@louishendricks-tv1sx]

​@@loumason6120 , Motor oil is the only reason to go to Walmart!🤣👍

[@loumason6120]

@@louishendricks-tv1sx Yeah i know their brand is very good too, but in general the price is way up there now🥱

[@rnish2958]

Are the "Floor Plan" companies banks or another type of company? Who are the majors? Who should I not invest in?

[@jeffersonblackmon]

Whats up Lucky. Don't forget my favorite Judge Judy quote; "(stupid Dealers) Stupid is forever."😎

[@melindahase5807]

Over 500 trucks on the lot in Scottsdale AZ. Unheard of. I swear they are planning to file bankrupcy & the Treasury Dept should deny, deny, deny as I think what they are doing is illegal & gross negligence.

[@jerryzunich6045]

Can a regular person buy Repos from banks currently, I'm want to take advantage of this!

[@Mrhandyhitman]

Pretty sure you need a dealer license or atleast get someone that has one to buy it for you.

[@LuckyLopez777]

Most can’t. Unless they have a public auction. Check with your local bank and credit union

[@reggiemurphy7028]

I've been pretty lucky about two cars in the last 3 years and they treated me pretty good I think I might have overpaid by like a thousand or 2,000 bucks but overall pretty good experience I live in Washington State

[@tonymejia2497]

Yellow lights are annoying. The auction will run a vehicle green light, but then put a yellow light on the engine and transmission. That absolutely makes no sense just run it as is. But I guess I get it some dealers to see a green light and bid crazy

[@the305hauler]

Booyah 👊🏽 😁 👍🏽 🇺🇸, Thanks lucky.

[@mleindek]

Great info Lucky!! I'm tired of hearing "oh I will make money on the back end" F that. If a unit is overpriced I pass, don't care if it's a $2000 hooptie or a $200000 Porsche.

[@bena9221]

Great video lucky n thanks for posting

[@LuckyLopez777]

Glad you enjoyed it