CARMAX DISASTER - What Are They Doing

In this video we talk about CARMAX stock earnings report. I take you to CarMax's lot and show you just how full it is and how expensive their cars are. It's clear that CarMax is in trouble and their prices aren't sustainable!
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
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*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices

[@ZakWayne]

Folks, if your car is still running, don’t buy anything. Literally the only way we can drop prices is by walking away!

[@grumpynomad3551]

I’ve been sitting on 25-30k waiting for the best deal on a truck.

[@EvySurvived]

My vehicles need constant maintenance still cheaper than a payment and higher insurance premiums

[@stevef68]

I just had my vehicle towed to the shop again, almost any repair is cheaper than buying something new right now.

[@sammni]

That’s my advice to everyone…. If the car isn’t giving you hassle just keep using it

[@Michael_the_muffinman]

@@grumpynomad3551buy coinbase stock. It went up about 7% just today.

[@user-wd7jm3nq4o]

Dealers were quick to inflate their prices when the shortage was there and make a big profit. Now they’re reluctant to lower the prices when there’s an abundance of prospective cars just greed.

[@mof4104]

They can't really lower, cars are bought on loan, interest accrues longer it sits, the worse the return gets the harder to drop the price. If it was one car it'd be OK. But if you lose on every car you sell you'll go under.

[@datz_nice_805]

Sound like bad management and now they have to pay lol

[@Yolo942]

The longer the hold out the bigger their losses.

[@dougrobinson8602]

Part of this is because when they couldn't get decent used cars, they paid way too much for them on trade in. Doesn't make me feel sorry for them, though.

[@HiPlains1]

@youwish3575 But if Dealers cut down on their allocations then the oems might have to reduce production. And if that continues even shutter plants. Cheap money and loosey goosey banks giving credit to sub prime is over. IMO, the high MSRP's are not sustainable. They are resisting and holding on to this pricing model but the customer will eventually have the final say.

[@whatdoesnt]

I’ll believe it when prices start to drop. When companies are willing to hold onto inventory at high prices this means they are not hurting nearly enough.

[@roxycauldwell544]

Yep. And the reason they're not hurting is because they still have a lot of money from straight up price gouging the last few years

[@williampowell2104]

Right? I've heard nothing but "prices are dropping" and "wait 3 more months" for the past year. I have not seen prices drop... at all...

[@Theywaswrong]

@@williampowell2104 I'm thinking all these video's are just what they say they are, used car salesmen making their usual pitch of false information. Click bait.

[@story1234]

@@TheywaswrongThere’s facts that undereducated tends to ignore. You sound like one.

[@tjonesauto]

Lot rot: flat spots on tires, dead batteries, computer codes when battery voltage drops below 11 volts, stuck AC vent actuators from freezing, brake rotors rusting excessive leading to warpage, timing chain rattle, serpentine belt noise. These are the most noticable.

[@jacobshields6594]

But it only has 3,000 miles on the odometer!

[@MattPSU02]

My Chevy Bolt EV sat on the lot for 6 months during the stop sale, and it's just fine. Not saying that those things don't happen, it's just that they're overstated a bit.

[@MattPSU02]

@@jailbird1133 I did get a free battery from GM out of the deal.

[@bryonwatkins1432]

@@MattPSU02Actually, there aren’t overstated at all judging from i have seen with cars sitting longer then they are supposed to!!!! Not surprisingly, i recall them being mainly American car made crap!!!!

[@JustEatItReviews]

I've been screwed so many times by car dealers I don't feel sorry for any of them. My 2019 is almost paid for. I bought a good extended warranty. I maintain the car and I'm keeping it until the wheels fall off.

[@agustindelgado1218]

You also probably got convinced to pay those extra add ons that were not necessary 😂 you still didn’t get a good deal

[@JustEatItReviews]

Never said I bought add ons, I said I got screwed. @@agustindelgado1218

[@truckercowboyed2638]

If you got screwed it's your own fault, there's plenty of resources to know the value on cars

[@danielquinn9817]

Same dude , wrx sti Subaru

[@mtnmosin2740]

your 2019 just might be the last of the "real " ones

[@jimowens381]

There's absolutely no words in the English language to accurately describe this insanity. $50,000 for a used car?!?!? No words!

[@mj8495]

Depends on the car...luxury cars off lease will often be over $50k

[@mauer62]

Yeah im guessing they want to make 10 to 20 K profit on those cars. That is insane and just plain greed.

[@Hankjones1]

Try garbage

[@eggsngritstn]

Heh, just saw a used pickup on FB Marketplace for over $80k. Crazy.

[@obiwon84]

Yea it really puts things into perspective. 50k can turn into a lot of money if you put it in the bank and let it compound for 30 years.

[@RustyCar]

Both of our cars are completely paid off and have no intention of buying new or used. I can’t believe that I’m repeating what my dear ol’ dad used to say, “I’m going to drive this car until the doors falls off!”

[@robertawiese]

The car market is way too crazy right now… just paid off my toyota avalon this year so Im just enjoying not having a car payment… its so nice😎

[@bryanCLXT]

I just bought my second car cash no payment is the best.

[@tylerstewart2474]

Carmax offered me 12k lower on my trade than the 5 dealerships all directly around the location. They offered me 6k and had the same car model condition and miles on their lot for sale at 25k. I asked them if 19k was the normal profit they make on cars and they said yes. I walked out obviously. Dealer across the street gave me 20k and I didn’t buy a car from them they just bought it

[@User-cc6cq]

Wow, things have certainly changed at CM!

[@jk43611]

That means they just didn't want the car. The are overloaded with inventroy so the only way they are going to buy one now is if they are getting it for a steal.

[@elfowlkes]

Good for you!

[@brianowens1002]

It’s a system generated price. The person you worked with has nothing to do with it.

[@PaleBlueDotCitizen]

Wow what a ripoff

[@Benglator1]

I went to a Carmax lot once when I was looking for a new car. I found a truck I liked and started discussions with a salesman who was appointed to me like I was a VIP. I began by getting started on negotiating about the price.. This man then informed me that the price was set and non negotiable. I asked him why and he stated..."We conducted polls that showed consumers did not like to negotiate prices and wanted to see just the lowest price available". This was back in 2018. I asked him how they came to this being the lowest price and he said Carmax set the price and we are to pay it. I left

[@mrbl220]

Non-negotiable has been their policy for decades. They'll buy most anything and sometimes overpay for a used vehicle. I've sold a couple of cars to carmax in the past and bought elsewhere.

[@Cream1968]

Last week I went to a Honda dealer in the Chicago area. I was looking for a CRV. They had a 2024 with $4500 in market adjustments I looked online the next day and found a dealer 15 miles away with a 2023 with 4000 miles that was a demo car and got them the knock $1500 off and now that car is sitting in my garage don’t pay market adjustments….. great channel😉

[@FreeAmericanUSA]

100%, poking around and being assertive in life pays off. Taught my kids what to avoid in life.

[@Cream1968]

@@FreeAmericanUSA Good for you my friend…😉

[@SmartPracticeSuccess]

I bought a brand new 2023 Civic in January 2023. They tried charging me a $4K market adjustment fee. I said no and ended up paying MSRP. 🤷‍♀️

[@RustyCar]

@@SmartPracticeSuccess- Good for you not buying into the ‘market adjustment’, but on the other hand you did pay MSRP, and the dealership was way more than happy to have you do that. It’s a win/win for the dealership and a lose/lose for you (the consumer) even if you think you ‘only’ had to pay MSRP.

[@Elyseyugh]

You should’ve bought a 2000 Honda CRV for $1500 and I bet it would’ve ran better and lasted longer. Not kidding

[@the_desert_dweller]

What Dealerships dont seem to understand is not everyone wants to finance their cars, especially through a dealerships bank, your almost guaranteed to get ripped off in some way.

[@BradKwfc]

Exactly. They'll be happy to let you talk them down 5k as long as they can hide the rate from you and keep you focused on the monthly payments.

[@tammyjones7794]

I was looking a small suv to replace my 2003 Civic that is falling apart. When I told them I was going to pay cash they told me the price is $2,000 higher if I pay cash. It's because they make their money through financing. So the 03 Civic it is. I'm not financing anything after living through the 2008+ mess

[@DrugTalkTV]

Every day I drove by a CarMax off the highway on the way to work, and I just watched the inventory continue to grow and grow to the point they are parking cars off site now in a nearby businesses lot.. this crisis is the slowest moving freight train coming down the tracks all could see.

[@Thisoldhiker]

@@Travis12861 It isn't a crisis when the government and Federal Reserve protect businesses from the possibility of losing money.

[@loopba]

States like NY and California have started paying illegal immigrants to sleep in the cars at night instead of in hotels paid by the taxpayers.

[@bobafatt2155]

No haggle

[@matthewsmith2362]

No crises for them or the banks or the corporations or the insurance companies or the lenders that underwrote all the bad student loans, no crises what so ever They have the good old us government behind them. They are too big to fail I guess. This is America only small business and middle class get hurt. Bailouts for all but the working class.

[@OnlyHuman2.0]

​@@v-2010 Carmax IS a government company. Look into it. There are businesses here in America that you would never guess are actually owned by the government.

[@2FRESH-4U]

The greed is out of control in this country

[@LongDefiant]

Anomie

[@geminiecricket4798]

research China 😂

[@LongDefiant]

@@geminiecricket4798 more anomie

[@Mr.Corinthians]

Here is a preview of what is coming when DJT returns to the White House in 2024 and Republicans finish taking over the three branches of government in 2026. They will enforce this law passed by Congress in 1991 during George "1000 Points of Light, a New World Order" Bush Sr's administration. I would like to post the number of this US Public Law, but KZbin will not allow it. I'm sure you can figure a way out how to find it. Whereas Congress *recognizes the historical tradition of ethical values and principles which are the basis of civilized society and upon which our, great Nation was founded;* Whereas *these ethical values and principles have been the bedrock of society from the dawn of civilization, when they were known as the Seven N-ahide Laws;* Whereas *without these ethical values and principles the edifice of civilization stands in serious peril of returning to chaos; Whereas society is profoundly concerned with the recent weakening of these principles that has resulted in crises that beleaguer and threaten the fabric of civilized society; Whereas the justified preoccupation with these crises must not let the citizens of this Nation lose sight of their responsibility to transmit these historical ethical values from our distinguished past to the generations of the future;* Whereas the Lubavitch movement has fostered and promoted these ethical values and principles throughout the world; Whereas Rabbi Menachem Mendel Schneerson, leader of the Lubavitch movement, is universally respected and revered and his eighty-ninth birthday falls on March 26, 1991: Whereas in tribute to this great spiritual leader, “the rebbe”, this, his ninetieth year will be seen as one of “education and giving”, the year in which we turn to education and charity to *return the world to the moral and ethical values contained in the Seven No-hide Laws:* and Whereas this will be reflected in an international scroll of honor signed by the President of the United States and other heads of state: Now, therefore, be it Resolved by the Senate and House of Representatites of the United States of America in Congress assembled, That March 26, 1991, the start of the ninetieth year of Rabbi Menachem Schneerson, leader of the worldwide Lutbavitch movement. is designated as “Education Day. U.S.A.”. The President is requested to issue a proclamation calling upon the people of the United States to observe such day with appropriate ceremonies and activities. What has been done, will be done again. There is nothing new under the sun. 2 Kings 22:10-13 10 Then Shaphan the secretary informed the king, “Hilkiah the priest has given me a book.” And Shaphan read from it in the presence of the king. 11 When the king heard the words of the Book of the Law, he tore his robes. 12 He gave these orders to Hilkiah the priest, Ahikam son of Shaphan, Akbor son of Micaiah, Shaphan the secretary and Asaiah the king’s attendant: 13 “Go and inquire of the Lord for me and for the people and for all Judah about what is written in this book that has been found. Great is the Lord’s anger that burns against us because those who have gone before us have not obeyed the words of this book; they have not acted in accordance with all that is written there concerning us.” We will be told the reason society, and the economy is the way it is today is because we did not pass on these Noah Laws as they said they would. The following is a partial listing of the Noa-ide Laws as derived from the Babylonian Talmud. Three of these Laws require the death penalty by beheading/guillotine when broken: Blasphemy, Idolatry and Sexual Immorality. (Note: Unlike in the Old and New Testament teaching “By the mouth of two or more witnesses..”, these Laws only require one accuser for the accused to be brought to the courts and condemned.) Idolatry: Must worship God alone. Must not worship any man (ie: Jesus) as God. No idols or statues. Do not bow to idols or statues. Do not offer sacrifices to idols or statues. Blasphemy: Do not curse God. Do not use God's name in vain. Worship the true God alone, do not worship false gods. (Worshiping Jesus is also seen as blasphemy.) Murder: Against murdering anyone, self defense is permitted. Mass murderers will be given the death penalty. (Abortion is classified as mass murder.) *Theft--Do not:* Steal. Rob. *Overcharge* -Have you noticed how many of today’s large corporations seem to be pushing the “progressive” message about “fairness, PRIDE, tolerance, inclusion, diversity, equity” while also overcharging for their products? And how many of these corporations are known to overwork and underpay their workers, reaping huge profits for themselves as they commit wage theft? Kidnap. Move a landmark. (Probably not good for BLM/Antifa activists who tear down historical landmarks.) Here is a “landmark” which was destroyed recently. Georgia Guidestones 1. Maintain humanity under 500,000,000 in perpetual balance with nature. 2. Guide reproduction wisely - improving fitness and diversity. 3. Unite humanity with a living new language. 4. Rule passion - faith - tradition - and all things with tempered reason. 5. Protect people and nations with fair laws and just courts. 6. Let all nations rule internally resolving external disputes in a world court. 7. Avoid petty laws and useless officials. 8. Balance personal rights with social duties. 9. Prize truth - beauty - love - seeking harmony with the infinite. 10. Be not a cancer on the earth - Leave room for nature - Leave room for nature. ---If you want to know what the propaganda about climate change and going green is about, this is it. Do not use false weights and measurements. Do not covet. (I would think this applies to Socialists who believe they should receive the benefits of other people's work.) Sexual Immorality--No: Bestiality Incest Homosexuality Barack Obama was “controlled opposition”, a descendant of King John and Charlemagne, as have been all of the US's "elected" Presidents. The homosexuals have been promised increased rights and privileges, tolerance and inclusion, thinking they are being “normalized” in our society. They have been manipulated into exposing themselves publicly for elimination. The Government now has marriage records, phone and text records (Patriot Act) and online records (Earn It bill) which will be used against them. Prevention of animal cruelty. Do not eat an animal while it is still alive. Do not eat flesh of animal torn apart by a wild animal *Justice Law - Against* *Bribery* Favoritism -Although called the “Equal Opportunity Act”, what we have seen are people being hired or promoted not for their talents, skills and education, but based on the color of their skin, gender and sexual orientation (even if they are not qualified for the job or promotion), otherwise known as “intersectionality”. Is this “equality”, or favoritism? Condemning the innocent Must administer the death penalty Treat people equally before the law

[@bmbutler2]

Where have you been for the past 100 years. Stop acting like greed is some new thing.

[@shauncollins2017]

Carmax has been in trouble since Carvana got in trouble. I haul cars for a living and back in 2020-2021, I was picking up 15-20 cars a week from Carmax locations. I havent picked up a car at a Carmax location in almost a year.

[@bryanCLXT]

carmax doubled down on buying more 2 car haulers to its fleet to keep the money In house. and only transportation from carmax 10 car haulers.

[@Tsuter1978]

Maybe this market will help people realize that they don’t need new cars every couple years. Once people are forced to keep their older cars on the road because they can’t afford to replace it, hopefully they will realize that it’s not such a bad thing to keep a car for longer. I know I’m not in any hurry to purchase a newer used or new car. It’s actually a bit liberating driving an older vehicle, no worries about nicks and dings and all that.

[@davidd5213]

The average age of cars on the road is 12.5 years.

[@keneutervalve9459]

You assume that cars and trucks are built to last. Bless your heart.

[@will_mcfarland]

You are overestimating the intelligence and resistance to temptation of the average consumer.

[@jamesryan4261]

Great point. The same can be said for new IPhones every year

[@MrTommy001]

@@keneutervalve9459 Cars today last a LOT longer than cars back in the 50's and 60's. A LOT longer!

[@florinicrisan]

Indeed, they blame the inflation. But what is the logic behind selling an eleven years old vehicle for almost the same price it had when it was new?

[@cameronjenkins5304]

I was at a lot today. Lot rot sitting in! I was looking at 2018 4 Runner Repo. Of course it had damage and the frame that was bent. They wanted $38k.

[@wikolib6821]

That's crazy.

[@RareGenXer]

Run as far away from that as you can

[@lexi24425]

the amount of people missing/late payments on top of buying overpriced vehicles is also ridiculous and SAD.

[@ShatteredPulsar]

Anthing to look cool!

[@hottew_twat3963]

banks are allowing this after the 08 bailouts, the only thing this punishes are the ones with good credit, and that is what banks are going after

[@lexi24425]

@@ShatteredPulsar most of what i see is people who are buying over priced normal vehicles… 2019 honda accord and payment is $900..

[@bryonwatkins1432]

It’s not sad!!!! Zero fcuks given here!!!! People need to learn to SACRIFICE (take public transportation if need be) and just save for 19-24 months then pay cash!!!! That time will fly by!!!! That’s what i did!!!! You know what most people told me? “Man, you have a lot of patience. i couldn’t do that.” THAT’S the other problem!!!! NOOOOO discipline!!!! QUIT buying shit that depreciates daily!!!! That’s not even logical 🤦🏾‍♂️🙄!!!! If you are going to finance, the FIRST thing that should hit your mind is how much will it be worth in 5-years? Next, i would investigate at what point will i need that, this, and those mechanical repairs for this part, that part, and those parts!!!! Here, my God, people told me, “Damn bro, you’re too technical.” Technical? TECHNICAL? Well, being that a car is the second most expensive thing you will purchase, why the FCUK not be technical 🤦🏾‍♂️🙄? Tell you what!!!! If people thought like me, they would NEVER get fcuked by a car salesman or Realtor!!!! Why? Because an overpriced price by $25,000 and house by $275,000, they WOULD NEEEEEVER sale!!!!

[@TheTrollTrollyYeti]

I always tell people, before you buy from a used dealer, get a personal loan and look private party. Hell I tell them to get their own loan before car shopping so they don't fall for the "we can get you financed" BS

[@bpb5541]

Or even better. Save up and pay cash for a good used car from private. You come in with cash most people will knock off even more money.

[@OriginalCovfefe]

I dont trust Private Party sales unless the owner is an older gentleman who went through the scheduled maintenance.

[@Mr.Corinthians]

@@OriginalCovfefe I agree. Just know going in you are going to get a "grandpa" car like a Buick, Crown Vic, Grand Marquis or something that won't be super fast/sporty, and you can find a great car that will last a long time for a decent price from an older person. My car was recently totaled a few weeks ago (rear ended, destroyed the bumper, rear quarter panel, wheel hubs and control arms) and I'm looking a purchasing a near mint condition 2002 Grand Marquis with 68k miles for $3600 from an older gentleman after I get my reimbursement check from insurance.

[@rj-me3fh]

If carmax sold hot dogs at the ball park they would be 60 bucks without condiments!

[@benge3x]

These prices are easily 20-25% too high.

[@UNKTXJIM]

Yes, screw the dealers...greedy

[@will.davlin]

Every car lot i see is 95% full across 3 states ...

[@carquestionsanswered]

Yeah seeing that too

[@MuniTechnology]

Last six months, Mercedes dealer near me has new cars parked door handle to door handle. It's a sea of shiny black.

[@TheJiggs666]

Not in Northern VA, see temp tags all the time. People have money around here, lol.

[@will.davlin]

​@@TheJiggs666im in the dmv , outside of nova all lots are full

[@s1988teve]

​​@@TheJiggs666the govt will be the last to fail, parasitizing the populace until the end. Ref: Gibbons "Decline and Fall of the Roman Empire." We are in our decline as well.

[@squxshyy]

I work at a carmax in Florida. Interest rates and negative equity is killing it. The amount of people I couldn’t help because they were so far under in their current car is crazy.

[@RepuBlicOfChaD]

Homes are next!

[@magicmerlin1]

You call it help? I call it robbing people blind. If your prices weren’t so high people could afford cars regardless of interest rates. Prices are the root cause not interest rates.

[@stevejones01]

@@magicmerlin1 The younger crowed in CA. doesn't realize how much tax and license is in CA. Most show up with 2 to 5 K down payment on a 40 K car. The tax is 4 to 5 K. These people are financing 100% of the car and most don't know it. There is plenty of 25 to 30 year olds around paying 1K a month for car or truck. The car prices around here don't seem to mater to this customer base. Trucks in CA. are still starting at 60K.

[@scottysgarage4393]

They just went somewhere else. Carmax prices are laughable. We sell everything for 40% less than you people.

[@stevejones01]

@@RepuBlicOfChaD I have a house and I hope so too. People are spending all of their disposal income just for housing. Instead of that money going into the economy, it is all going to the banks and Wall Street. This is bad for everyone even current home owners. Rental properties are a bigger drag on the economy then house prices.

[@adam1885282]

Carmax pricing demonstrates how much people detest traditional dealers

[@stephenbacks3100]

Why do people trade in their car every three years!?! I love not having car payments. I’d rather spend it on travel or home improvement.

[@JustMe99999]

Because some people make enough money that it's not an issue?

[@rosethao6004]

Not everyone’s financial situation is the same as yours

[@ms3ben]

You would understand if you were a car enthusiast.

[@eileeneclark9011]

1/1/24....KEEPING UP WITH...OR EVEN AHEAD OF THE JONES FAMILY!

[@ButterflyBree]

I passed by Kia, Toyota, and Nissan dealerships today. There lots are all full to the max!! I've never seen so many cars at the dealerships. 😮😮

[@SiikPros]

Get the Toyotaaaa

[@adambahnsen4577]

If they want the prices to come down, all they have to do is lower their prices and take a smaller cut of profit.

[@brad19mase]

So I made comment about negative equity and cars being too high in the video Brandon did with Car Edge and people jumped on my case, he literally confirmed everything in this video. Used car prices are too high. Also they say ,"wholesale prices are decreasing". That means nothing for the consumers, if the retail market doesn't reflect that

[@jjroninronin]

CarMax-Laurel, MD location was packed with cars. Some aisles had cars parked perpendicular to save on spots. The lobby was a 10:1 employee:customer ratio. The Toyota dealership next door has cars overflowing into the closed banks parking lot next door. RAV4, Taco, 4Runners and Siennas are plentiful.

[@diekruzen]

I was on that Toyota lot a few weeks ago. They certainly had plenty of inventory, but nowhere near 'excessive'. If you have been there more recently -- then your news is good news as I am looking at purchasing a Tacoma there. While I did not go to Carmax (you can clearly see it from the Toyota lot), they DID seem to have excessive inventory. Very packed with cars.

[@rtsolution11]

Brandon I love the no non-sense, straight to the truth content. No fluffed up click bait titles, no bullshit, simply stating facts.

[@Noeaskr]

Dealers don’t care if prices are high or low, they just care about the total sales revenue. If they sold high volume at high prices they wouldn’t shed one tear about it.

[@Shadow_Banned_Conservative]

I'm so glad I don't need a car. My newest vehicle is a 2014 with 107k miles on it. I plan to hold on to it for another 5 years until I retire, maybe earlier if the car market crashes.

[@timothyknight2236]

I have 40K cash sidelined waiting for truck prices to drop. My old truck runs fine and everything on it works!

[@Kidwithcloset]

I hate the whole process of buying a car. i gladly walk out on some bs they try to pull

[@bartwaggoner2000]

Tesla has the correct model - online purchase.

[@tylrjsph]

Corporate greed is one of the US biggest problem

[@Michael-it6gb]

Im in Sweden. The greed is pretty much the same if not worse.

[@thestig007]

Inflation is a bigger problem. Wages don't keep up with inflation.

[@jamesw1791]

Greed is everywhere it's not exclusive to corporations. Poor people can be greedy

[@hotmess9640]

@@thestig007because of greed.

[@marcd6897]

@@thestig007Inflation is high because of corporate greed.

[@jumpdawg799]

The old Crazy Eddie's electronics commercial tagline says it all.. "Their Prices are Insane!"

[@dominacio]

Ah yes...Crazy Eddie. I remember those days.

[@twincitiesdashcam9119]

$35,000+ for a Maverick is insane...

[@seanmcgivney7631]

Yes, it is. Especially since it was billed as " The $20,000 new Maverick compact truck" before introduction.

[@mtnmosin2740]

i wouldn't give 12 for it knowing ford built it as a throw away just like the dodge neon

[@largol33t12]

@@seanmcgivney7631 They never ever sold for that much in my state. Saw only three on stealership lots. All were exactly the same, NO options and a ridiculous $3,000 stealership markup. Why is that still not a good deal at $23K? You get NOTHING but fugly steel rim wheels, bland white paint (no color choice is allowed), no sunroof, no GPS, not even a touch screen and no satellite radio. Oh, and everything is manually adjusted including the seats. $23k for that? F that.

[@ktakashismith]

Also, my goodness, that 4-year-old Tacoma is listed for $2,000 over its NEW selling price. Companies like this deserve to fail (but I doubt they will).

[@dariuswilliams9667]

My wife and I went to an auto auction and bought a 2007 GMC Acadia for $4500. It runs great, no payments, some minor work had to be done. There is no reason to attempt to buy a car from a dealership. Their prices are unrealistic for a used vehicle and the financial institutions have predatory lending practices.

[@bmbutler2]

What “predatory lending practices?” You buy a car you can’t afford extending your debt burden to unrealistic levels, but you gotta have that big ticket car. That is YOUR fault. Just like student loans and adjustable rate mortgages. If you got an adjustable rate mortgage in the past 5 years, you are about to have some real hurt.

[@dariuswilliams9667]

Bog ticket car? I bought a 2003 Fotd Expedition with 140000 miles on it for $6500. Stupid I know, now. Made my payments on time but the interest kept adding up. The loan agency was predatory in their practices. Wound up suing the agency and won!!!

[@dariuswilliams9667]

Big

[@glorgau]

Probably another $trillion or two of car "equity" is gonna have to evaporate before the deals actually return to reality.

[@thedude5040]

$1 trillion might be on the high end, but definitely in the 100s billions range. Total us car debt is only $1.5 trillion

[@Chiefgeargrinder]

50K for a New Scat-Pack Wide-Body isn't too Bad. Wait till you call your insurance company. That's the real Problem. I recently bought a SHO over a Mustang for that very reason. Insurance.

[@bryanmarchese6945]

Carmax bought 2 vehicles from our dealership in August on smartauction. They still haven’t picked them up. They have already lost 120 days value and they aren’t even marketed yet. It can’t end well.

[@rickreese5794]

Dey be so Shmart 😮

[@cyrusthegreat3081]

Idea is to create a monopoly or cartel system where consumer will have limited choice! That way they can mark up any price for other cars! They have removed those two cars from market and that is their goal!

[@CyndiOyea]

Sigh. I remember the time, just a few short years ago actually, when you could buy a condo for $50k. I’m amazed at how long this has been going. This will snap.

[@Steve.Cutler]

Dealer might want the prices to go down now becuse theyre chocking on inventory. They were loving the high prices during the planned demic. They were gouging the hell out of the public.

[@harrymills2770]

They all knew the gravy train would derail, and their longterm future was trash. The smart ones cashed in and folded their tents.

[@jreynolds2184]

Well fools were taking it in the ass and now giving them back - zero empathy - prices are still way out of line - hold out it'll pay

[@StealthAZ]

I’ve been saying for 3 years now , as soon as the chip shortage catches up there will be an excess of vehicles…well….. that and the rise of interest rates accelerated this surpluses. But somehow car dealerships thinks it’s 2021 in 2023 when rates are 8% 🤷‍♂️. Dealerships need to be humbled. I’ll be damned if I’m going to buy a car with payments higher than my mortgage

[@vegitoblue7908]

The negative equity issue is since dealers try to add 6k of add ons in top of the dealers price. Hope all big chain dealers go backrupt for being thieves

[@truckercowboyed2638]

You negotiate the add ons out of the deal, do you people know how to negotiate or what??

[@pspmaster2071]

​@@truckercowboyed2638well he's saying you shouldn't have to fight like that

[@jerryfarmer5989]

The new car fleeces in my town are not selling cars. Seriously neither new or used they are just sitting there being moved around. The lot folks are out on the lots moving battery charges around. One of them have a 1990 Cadillac Allante, whoo hoo!! For the low low price of $12,995.00. They are nuts flat out loonie tunes nuts.

[@chrislemaster2695]

A 1990 Cadillac Allante' was the one if the biggest crap boxes GM ever made electrical nightmare from the Hook & Tow 4.1L 4100 to the head bolt and gaskets chewing Northstar. These cars at Mecum auction in great shape with low miles run for around 4500.00 to 6500 at max. There was one of these there and it brought with 55,000 miles and a 1992 model highest bid 4950.00. This was 6 months ago and one 1993 model sold at Barrett Jackson last year for 3,500 and the auctioneer said this was the cheapest car they sold that day, I guess the owner wanted to unload this crap box at any price.These cars were sold bad when they were 5 to 7 years old in great shape. These were a beater row special at 1,995 to 3,495 special back in 1997-2000. Most were junked because of engine and electrical nightmare to work on and by 1997 no Cadillac(GM) dealers had no support or parts and by 2003 pretty much extinct. These were another l failure like the 30K Lebaron TC By Masserri (K Car) from 1989-1992 which is another rare crap box not worth buying. I watch Mecum and Barrett Jackson all the time and when both these turds come across the block they always bring less than 6,500 in perfect shape.Not highly sought after at all. I would imagine any major engine parts for a Hook & Tow 4100 would be extinct by now as 1988-1990 last years. Even the Cadillac 4.5 engine they used was good but major parts for the engine are nearly impossible to find unless you go to a junk yard or U Pull A Part or LKQ.

[@MidlifeCrisisManagement]

was at a CarMax a few days before Christmas. the place was packed. test-drove a car, but decided to keep shopping. the car I test-drove sold later that same day. in hindsight, it was a blessing.

[@SoulfulVeg]

I paid $24K for a 2017 Sienna LXE with 56K miles 2.5 years ago, and I was mad. I got a 4.6% interest rate. I can't imagine paying nearly that for a 2012 with probably a ❤15%+ interest rate due to higher rates and the age of the car. These prices are insane.

[@mrlarry999]

I love your channel, and yes, I’m a subscriber. I have no idea how big the slice of the economic pie comes from US car sales are (new and used), but I know that car payments (along with the insurance payments) paid by consumers are their second biggest expense. Seeing a lot of impounded vehicles, and 1-2 year old vehicles for sale at Carmax says a lot about the American consumer. 👍🏼👍🏼

[@flynlow4ever]

Problems and recalls with hard to get parts, along with price increases and APR’s, just doesn’t make a new vehicle desirable. 30-50k goes a long way repairing a current vehicle.

[@richardcheatham9490]

Not in the market here right now but just stopped by to see the video. And happy to report that this a model that others in its league should try to match. Just straight forward knowledge presented that I'd follow if I were a buyer at this time. Very Well-done presentation. Fair winds and glad tidings to you.

[@michaelmcgillivray2485]

I've heard this same story for the last 18 months - prices on the wholesale market tanking yet retail sales prices still not affected. Meanwhile the OEMs continue to move upmarket with their model mix and continue to increase MSRP. Inventory continuing to raise on new / used car lot with interest rates continuing to ratchet up as well - this should be the "perfect storm" of retail prices crashing but still nothing significant on that front yet.... Right now buying new at significant discount off MSRP and/or 0% interest is probably the best way to go.

[@shawnpetty3837]

But even at 0% you are still going to take an absolute beating at MSRP. Rates and prices need to come down together.

[@matthewsmith2362]

Just wait people Don’t be so effin eager They will drop in price You just have to be patient Oh I forgot this is America, Americans are allergic to patience

[@BlahBlahBlah85651]

It’s call shilling for content. These KZbin gurus, whether finance, car, or real estate, are nothing more than con men making videos for KZbin algorithms. The likes of lucky Lopez, magician turned to finance guru shilling shitcoin (Andre), graham Stephen, and countless others are just making videos that cater to what people wants to hear.

[@scottysgarage4393]

Still waiting to see some of this "wholesale tanking". Yes, new/high end vehicles have lost 5% or so. Otherwise the market remains steady, with 10k stuff climbing.

[@MrNemesis85]

Our economy being so top-down (opposite of free markets) creates a situation where the supply side of the demand-supply equation gets unnatural precedence. This means companies are able to make decisions without addressing the actual demand of the costumer. Too many big businesses are protected by government collusion, it is literally them versus us. In a true free market the demand side of the demand-supply equation is much stronger and companies have to adhere to what the customer is communicating. But when there are government subsidies for big companies keeping them afloat despite poor businesses practices, well you see the result.

[@Chuckles..]

Went to Carmax in 2010 to test drive a 2007 Ford Ranger fleet truck that sounded like the suspension was wrecked from jumping curbs. They wanted 12k lol, they probably paid 6K for it at the most. Their inventory was over priced even in 2010.

[@mikebrunello243]

I was a salesman at a Lincoln and Mercy dealership and they went out of business 47% of the cars we sold we had to repo

[@markdittbenner9949]

hahahahahahahah. 😂😂😂 Funny

[@JasbirSingh-zj1fg]

Mercury!? How many years ago did it happen?

[@robertozee5024]

​@@JasbirSingh-zj1fg I think he means Mercedes

[@attentive11]

I’d say dealers are in trouble. My local dealer has a used car I’m interested in that KBB says I can sell person to person for 6K if it’s in mint condition. They have it priced at 11K. I’m not about taking a 5K risk on a 6K car. It’s been on their lot over a month and price hasn’t dropped at all. I understand they need to make a profit but they probably picked it up for around 5K at auction. GREEDY or trying to recover losses by inflating prices.

[@medicisdad1]

I've been watching your videos for a couple of years. I'm a geezer who always wanted a hemi cuda but never happened. I found a 22 challenger 5.7 that was left over that they had used for a service loaner. Still technically a new car. 2275 miles and 13 k off sticker. it arrives tomorrow. thanks for all your insight.

[@TheBandit7613]

Install a Hellcat oil pump if you want to avoid the dreaded Hemi knock. Until then, don't let it idle any more than you have to. A Hellcat oil pump will boost oil pressure at idle and it's a simple bolt on. Look into what I'm suggesting.

[@medicisdad1]

@@TheBandit7613 Will do. I probably will drive it less than 5k/yr, but I will look after it. I think my daughter will love it when I'm gone. (Go Mango - most subtle color ever...)

[@TheBandit7613]

@@medicisdad1 I have a 73' Mustang Mach One, less than 100K miles. I bought it years ago from neighbors down the street. The old man died and his wife wanted it to go to a good home. That was me. She didn't really care about the money. It had 75K miles. My kids know they will end up with it. The Hemi can last 300,000 miles. The EPA forced them to try and improve fuel economy. Pumping less oil is one of the ways to improve. However, at low engine RPM along with the too thin oil recommendation, it doesn't lube the top end enough. So people tried mounting the Hellcat oil pump and it worked. It pumps more oil especially at idle. There's good Hemi forums that discuss it.

[@medicisdad1]

@@TheBandit7613 thank you for the info. Sounds like a cherry mach 1

[@thegroovemachine5003]

while not a hemi, my 68 383 charger is paid off. No smog im n cali too

[@drayflem7929]

Carmax just built and opened a dealership in Algonquin IL. I saw lots of vehicles for sale and nobody looking at them.

[@rodrixo1507]

Remember to add tag, tax and title to Carmax purchases. Which can run you from $1800 and up usually. This is before they offer gap insurance, and the Maxcare which ranges depending on the make of the car. So be prepared for a minimum of around $2000 in additional fees.

[@JohnSmith-tz4on]

The Nissan dealership here adds 1400 for the security system that they install into all the cars that they sell whether you want it or not what kind of bullshit is that

[@Lo0406]

In Georgia right now tag and fees for CarMax is 2500

[@Lo0406]

Doesn’t include MaxCare 🥴

[@kentuckygreg4725]

My son-in-law is a top salesperson at a new car dealer and he sold one vehicle last month. I don't know what the turnaround time is but the big3 and the dealers should have realized that customers wanted cheaper vehicles and tried to provide that. This is on them, enjoy!

[@alankeyes8267]

It's an annoying repeating trend in history. The big American Auto makers run headlong into making huge cars because that's where the margin is and hey fuel is cheap who cares? Then the economy worsens and fuel prices rise then oh no no one wants a huge car. Repeat 1973, 1990, 2008, 2023.

[@steve-dq7hh]

Cheaper yes but they also want reliability. Used to be you could buy a sentra and expect it to last 200k miles easy if you took care of it. No more and if you do get a modern car fixed with all the technology it can be a very expensive repair.

[@ajordan101]

Me and my wife was going to get a vehicle from Carmax, but we found a better deal from a local dealership

[@ripjeffhanneman5838]

I bought my 2021 Accord brand new and it’s weird because just a few years ago I had to settle because the lot was empty (chip shortage). Fast forward to now, dealerships are flooded with inventory!

[@bcampbell0011]

Carmax is a publicly traded company, and as such short term gains is all that matter...not the long game...So as of Dec 21, 2023: "CarMax's stock jumps after profit beat expectations, while sales fell short"...so don't expect any "deals " in the near future from Carmax....oh, in case you were wondering... $1,300.00 decrease is not a "deal"

[@Sommers234]

The stock jumped for the first few minutes and then it was done. Stupid headlines.

[@tonyp9609]

They ask the big prices because a large percent of people don't qualify to finance a new car. Thank You

[@tikitak1155]

My son works at CarMax. His location seems to be doing okay. He's been making sales, and hours are as per usual. Maybe his dealership may have made required adjustments. I'm not sure, but it seems to be humming right along. I think a clearer picture will emerge by summer.

[@Red-Raider]

I never have an issue with negative equity! I buy all my cars used and from owners! My most recent purchase was a 2000 Ford Excursion LE. I paid $4500. It is in great condition! It will pull my 1999 camper! I also got a 2007 BMW 328i for $6000! All paid cash. All owned outright! I will drive them till they drop! My 2007 Ford E150 with 320,000 miles is still kickin’(just needs a fuel pump)! Never will buy from a dealer!

[@robbyrocksoo]

Many consumers know that if you can buy a new car, for almost the same price as a used one a couple years old, it is not a hard choice. Especially if new cars have a 3 year bumper to bumper warranty. If you pay big money for a 3 year old car, then drive it off the lot, and the engine blows up, you will not be a happy camper.

[@kennedymcgovern5413]

New 5.7 Hemi engine: $4,000. Installation labor and accessory parts: $5,000. New carpeting: $200. Weatherteck floor mats: $250. High Dollar leather seat covers: $500. Detailing, including a new shine on the Mickey Thompsons: $200. Price of creating a "brand new" 1500 RAM Mega Cab 4X4 with a shiny new 5 year, unlimited mileage warranty, out of my old one: $10,150. And there is a red North Carolina Title in my safe. Friends and neighbors, car prices are as they are because you are LETTING them do it to you. I expect I will need to rebuild the tranny in about another 100K miles. So add 25 hundo when that happens. But what do you think Car Max would charge you for my truck in it's condition? Now, sit down before you think through the next rhetorical question: What do you think your local Dodge dealership will charge you for a new one? Fix what you have. The Cubans have been doing it for 65 years now. If you stop LETTING them do it to you, they will stop doing it to you.

[@barnabusdoyle4930]

If dealers actually wanted prices to go down, they would lower prices. What they actually want is rates and thus the payment to go down. That’s what they actually mean.

[@kelseyl872]

I love my paid off 2014 Chevy Cruze. For what it is, it sure is reliable.

[@winnabow6653]

Never do a trade in at Carmax, no haggle price means you got ripped off.

[@personalimpressions4749]

Carmax is far from troubled. They have a 2% chance of bankruptcy and 6.1 billion in revenue. Unless vehicles drop 50% or better I think they will just be fine.

[@steve-dq7hh]

A lot of companies with great revenue can have expenses that are just as high. Revenue is only part of the picture. Earnings per share and revenue are both expected to decline in 2024 as per Schwab.

[@DB57RB]

Stop buying cars people. Tell your friends and family as well. There needs to be a good 3-4 months of a severe drop in car buying for prices to truely come down big time.

[@lot2196]

Half the commenters are talking about the vehicles they just bought. Oh well.

[@Argedis]

People will never stop buying cars and getting into debt to impress others.

[@dannytavakol285]

Im a used car dealer and hes right when he says most people live paycheck to paycheck. In my area, most people can't even get financed on a 5-6,000$ car. We have literally been giving the cars away on our lot due to low sales this time of the year. And people STILL can't afford it.

[@williamjarvis6775]

Prices must come down drastically

[@VAspeed3]

I watch your videos because I'm thinking about buying a car, and this lets me see what's out there and for how much without having to take time to go anywhere.

[@DigitalSwagg]

I purchased my 2017 Lexus LS460 from CarMax back in 2021. Some of the compact and entry level sedans are going for what I owe on my full sized luxury sedan, whoa! I even got a 3.5 % interest rate back then. I feel blessed I purchased at the exact right time.

[@schrodingersmechanic7622]

I bought a city auction truck they used for the fire chief, a 98 half ton chevy extended cab with 59k miles. At the auction they said the A/C was broken and the transmission was slipping. I bid $2k and won it. All the mechanical problems were failed switches, grand total of $150 in parts. I even threw a $1500 maaco paint job on it to fix some rust from where they installed the light bar and spruce it up some. If you're mechanically savvy and a little bold you can find stuff like this. Just set aside a little cash and keep your eyes open. I jump started this truck at the auction lot and drove it home. It can be a gamble, just be willing to live with any negatives.

[@stevekovacs4093]

These large dealerships are loaded with high overhead and related operating expenses. They just don't have much wiggle room on pricing. All that inventory costs a bundle to keep.

[@Christoph-sd3zi]

I can't imagine the overhead on these huge dealerships - insurance, utilities, salaries, taxes, etc.

[@rondeal3823]

I refuse to pay these prices. Always getting textes from ford and nissan."Just checking if you needed anything" I smell desperation.

[@tboneups]

If you want the price lower, then lower them or go out of business. It's about time the consumer starts speaking with their money since it's the only language dealers understand.

[@patrickboyd3364]

What I've noticed is the longer people hold out the cheaper the used vehicles are getting, especially Acuras & Lexus

[@anthonyg638]

I am in Australia. My local Volvo Dealership is extremely overstocked with new small Chinese Made Volvos. Electric / Hybrid / Petrol. Still asking Top Dollar. Volvos are meant to come from Europe. Love my 2015 V60. Keeping it as a backup. About order BMW i4. There prices are realistic in AUD :) Love your work

[@AndrewSmith-ir1ui]

(Also in Australia) BMWs aren't what they used to be, mind you. But very nice to drive nonetheless.

[@marcd6897]

Anthony : i4 … very good choice! I have one for over a year, loving it.

[@rory-red]

The problem with Legacy car manufactures they just make vehicles more and more, they should only make them if they are sold Period. Then they could truely understand how well they market was doing.

[@patrickrussell1888]

In New Mexico, the sales tax is 4% plus you are going to want a mechanical inspection, plus clean air inspection and state motor vehicle licensing. Additional cost could approach 10% and jeeds to be factored into purchase price.

[@Fig.220S]

Knowledgeable and well-spoken review. I'm impressed.

[@ralphholiman7401]

Carmax used to be a good deal. We bought a 2001 loaded out Ford Expedition in 2002 for $21,000 with 20,000 miles on it when the same new model was running $35,000 to $37,000. But, who is going to pay about the same price for used as they can get a new one for?

[@fleafrier1]

One of those longtime viewers that finally subbed. Thanks for the straight dope on the used car trade. It has been enlightening.

[@carquestionsanswered]

Thank you so much!

[@brianwashere7966]

You'd think that reality would set in for these dealers both new and used. No one is going to pay these prices. Oh well, lose your business. I won't be shedding a tear.

[@SpiKSpaN-ei6zq]

New and used dealerships in my area are packed with cars. Even our local Kubota dealer can't sell anything. Luckily the prices are coming down slightly. Frontiers went from 49k to 45k since August.

[@Zebra66]

It's insane how super average medium to low quality brands are pricing cars at levels only the top 5% could afford. And how their cars are getting smaller as prices go up. Your average family could never afford a family sized car in 2023. Even the latest BMW X5 no longer has 7 seats. With all their automation and outsourcing... if they can't figure out how to make cars people can afford... in the richest country on earth... they deserve to go out of business. Nobody wants to pay $100k for anything with a Ford badge.

[@EMichaelBall]

They can, but there are enough buyers at the higher price points to justify their money grab, especially if they suppress new inventory.

[@Zebra66]

@@EMichaelBall obviously not. Or there wouldn't be a video about how they can't sell them.

[@jimmyamico4713]

You do phenomenal videos their thought out, they are communicated and layman’s terms for people to understand quickly and easily, and they are spot on accurate… and that’s the name of that tune..❤

[@ralphnewman2479]

Carmax offered me $5800 for my 2012 Jeep JK 2-dr that is very clean and runs perfect. I will be keeping it well into the 250k mile range before I sell/scrap it. You cannot find a 2012 2-dr JK on Carmax for less that $12k....That is the spread! Be very aware of what you buy on Carmax and what you pay for it. Very aware!

[@TheBandit7613]

My 1992 Jeep Sahara (like new condition) is over $15,000. It may partially because of collector status. All prices are out of hand right now.

[@woodyburkhalter1]

i just threw up....@@TheBandit7613

[@scott8964]

Let's hope they go bankrupt for riping people off asking thousands more for each car than what it is worth

[@kiefbox4908]

Your videos are informative and entertaining at the same time. Keep up the good work.

[@carquestionsanswered]

Glad you like them!

[@stephenfiore9960]

…He is a very engaging speaker

[@patrickkerns9006]

You've seen it, I've seen it, we've all seen it. New and used car prices are going to crash. Keep up the good work

[@GeorgeMandry]

Been subscribed for quite some time now - you give us valuable insights on what's going on. MUCH appreciated!

[@carquestionsanswered]

Much appreciated!

[@joegibbs2508]

@@carquestionsanswered I saw several comments that you were wrong, calling that Taurus a "show". It's an S.H.O. Well, for many years I drove an 89 sho, which is short for Shogun. S.H.O. Super High Output was an acronym Ford came up with instead of Shogun. They were called Shogun because they had a tricked out Yamaha engine in them.

[@2steaksandwiches665]

Look at their prices online, they are still way out of whack. I found an identical card that was being sold by Carmax and a local dealer. Pretty much the same mileage. The Carmax car was 25% more.

[@Loui3626]

Long story read if you want Bought a used car from Carnax last year and it ran like brand new.. for about 3 days. Took it to the service depo bc they assumed the system needed to be reset just for them to tell me there was a leak. They told me it would take a week to have that piece repaired and that week turned into 2 which then led to an entire month. I didn’t have the car for the entire month…Anyways they “fixed the issue” but it led to other issues happening in the car that were not present when I first purchased (ex: the car smoking) Luckily Carmax has that 30 day return policy but it forced me to make a month long decision in the span of 2 days. I obviously returned it and got my money back. “We do thorough checks on ALL our cars” is what I was told. I’m not a car person so idk what could have happened in just 3 days however I do know now that that car was not worth the price. Edit: I was offered max care but later found out I would have to re-sell the car back to them so that they could charge me an extra 4k😭

[@brojerhwg5206]

if I were a CarMax shareholder.... i would be selling my shares asap... fake numbers in a real recession?😂😂😂