Depreciation CRISIS! Car Values Are PLUMMETING

[@phiberoptik232]

It's not a "crisis" or "insanity" as you say if finances are returning to normal. Things have been allowed to skew out of kilter for far too long. We need to get back to sanity.

[@waltblackadar4690]

Exactly. This is simply a market correction for what happened in 2021/2022. Same as the housing market rocketing up from 2018-2022, which simply was a market correction from the depths of 2008-2010.

[@rfinnegan7106]

Back to sanity requires jail terms.

[@nothingtoseaheardammit]

Pretty sure that for the people who are upside down in a silly EV more then $30k consider it a crisis.

[@chrisfoxart]

Although i agree things need to return to sanity, just remember: capitalism is only about making a bigger profit next year than the year before. So, just keep your price lowering expectations in check. 👌🏼

[@tradermunky1998]

That's what they said in 1929 😂

[@kevinbarry71]

I think what you meant to say is that they were seriously overpriced when new. And suckers bought them

[@abrahammc2125]

@user-hg4li3zx1x but EVs are what driving prices down rn. they did some good for the society

[@R0CKtheR3D]

Were they overpriced if people were willing to buy them? Supply and demand.

[@kevinbarry71]

@@R0CKtheR3D they were overpriced; they just found people dumb enough to pay it. But not enough

[@Savvynomad225]

Boggles the mind

[@StarFox_SNES]

@@R0CKtheR3DYes. That’s why we had a Housing Bubble and crash in ‘08. People were perfectly willing to overpay straight into the Bubble. People are crazy.

[@ROE675]

What was insanity was how much new car prices went up.

[@oompa02]

Yeah, they'll offer you $23k and then turn around and ask $39K. Good luck car dealerships!

[@leea4624]

There is a 2 yr old, 2 owner CT5V Blackwing that’s being advertised above original MSRP ($95K) and the CarGurus cash offer was $73K. I told them I’d pay $73K + $1K 😂 of course they didn’t take it, but the car is going to sit and cost them money!

[@joshuaturnage5243]

You mean car stealer ships

[@sues3218]

It is called equilibrium. They are going back to realistic prices. The GREED went through the roof over the past 3 years.

[@tgtgtgtgtgtgtg]

So glad I’m still around to see things balance out. While in the thick of it it seemed like it would never end 😭

[@cdnmetelhead4013]

Out of the blue last week I got a call from my local Ford dealer. I had bought a truck from them, then sold it back to them for more than I paid for it (2yr old). Saleswoman told me she had a 2023 Mach-E for sale and they were dropping the price by $10k. I couldn’t stop laughing. Saleswoman got mad and hung up.

[@robedmund9948]

Why do dumb people always get mad when you laugh at them??

[@abrahammc2125]

thank you for your service may your pillow be cold on both sides

[@z-z-z-z]

@@abrahammc2125 - and, his nuts never stick together...

[@abrahammc2125]

@@z-z-z-z ummm. you mean stick to his thighs right?

[@masterful7574]

Car values were too high to begin with.

[@simon_hawk5758]

The prices haven't plummeted far enough as far as I'm concerned 😆

[@UPdan]

I saw a used truck advertised in the paper with 150k miles for $45k. Are they nuts? It's worth $8k with 150k miles. Can't break road wear with high prices.

[@Gramps83]

What kind of truck. So many factors

[@BuckRogers2000]

As long as dealers of all sorts remain predatory with used car prices, their junk will sit on the lots.

[@nothingtoseaheardammit]

How is it predatory to say "This item that I own is for sale for $X.00. Take it or leave it?" and then finding people who will take it? I'm sure if you had a yard sale and someone offered to pay you $10 for your dead Aunt's bedazzled ash tray you would tell them "oh no that's just too much for that old thing... how about $1!" Nobody would.

[@tarakivu8861]

@@nothingtoseaheardammit While sellers have the right to set prices, the term “predatory” comes into play when there’s a power imbalance. Information Asymmetry: Buyers lack complete info about used cars, while dealers have it. Exploiting this gap can be seen as predatory. Pressure Tactics: Some dealers use high-pressure sales tactics, pushing buyers into quick decisions. Hidden Fees: Predatory dealers add undisclosed fees, increasing the final price. Targeting Vulnerable Populations: Certain dealers exploit vulnerable individuals. Unfair Trade-In Values: Undervaluing trade-ins harms buyers.

[@BuckRogers2000]

@nothingtoseaheardammit The scenario you presented would possibly have items suitable for "Antique Roadshow". Let dealers sit forever on their inventory. My vehicle's got decades of service life left.

[@johnmoretto6063]

Takes 2 to buy a car, the dealer and the buyer

[@R0CKtheR3D]

@@nothingtoseaheardammitThank you! Its called supply and demand. The consumers are the ones that ruined the market, not the dealers. People were willing to pay the crazy prices and they did, thats on them and it screwed themselves and the rest of us!

[@stewartsmith1947]

Dealers and manufactures problems make me smile !

[@breckfreeride]

It's self inflicted

[@reneeann5340]

Got to cover all those Union wage increases

[@stewartsmith1947]

@@reneeann5340 Not with my hard earned money ! Must be a tough job installing lug nuts and windows !

[@ApriliaRacer14]

To be fair it’s more entertaining than anything on TV for last 20 years.

[@drdoc7508]

Prices are dropping. My car dropped 10 percent in a week, however dealers still want super inflated prices on their used stock.. goid luck. They will go out of business

[@CountryBoyTnn]

Don’t worry they won’t go out of business.. bank work along side with Greddy car dealers financing loans .. they are working hand and hand .. screwing is over and lining there pockets as a tag team

[@CM-hd6ki]

They will not go out of business 😂

[@rickjljr11]

every aspect of the vehicle is "proprietary" making it unrepairable except at the dealer. If it is broke it is not economically feasible to fix it.

[@martinchristian7270]

I don’t know about anyone else, but I think this is Great!😊

[@raygirard5554]

Agree 50% off the vehicles would be reasonable..or prorate all new cars as a 500 mile used to clear lots.

[@S.L.S-407]

I have been looking ( in Canada) at 4-5-6 year old SUB compact SUV's and the prices I am seeing are $30,000+ for cars with over 50,000+ kilometers. I think that is NUTS ❗

[@Uofmdoc]

Thanks fellows you just saved me from making a mistake

[@proeasylife2005]

Dealerships are robbing ppl all the time. They’re selling a car with mark up and buying same car with less than half price as happened to me. My Hyundai 2022 Ioniq 5 cost me with tax and 5k mark up $51.400. And after 18 months tried to see how much will give me for it and price was 17k. I was so angry of them and will never buy an EV only lease because the depreciation is very high. I just gave 50% down payment to pay it off as soon as possible with no idea that i will lose that much on my car. I still like my car and with this situation i have to stick with it until it dies no other option.

[@nothingtoseaheardammit]

They're NOT robbing people. They're collecting what the market is willing to pay. It's not the dealerships' fault that there are uneducated moron consumers out there willing to pay ridiculous prices for cars. They are simply collecting what the customer is willing to pay.

[@The1realro]

Bless your soul man lol ride our till it dies because there's no other option is just the raw truth.

[@jacksparrow3490]

Pays to do research and understand how things work in the world huh.. maybe not go out and buy an EV just because the government wants you to..

[@hokie9910]

Folks, the EV market is a sham. It’s a Ponzi scheme. Don’t believe me, just go out and buy one and try to trade it in a couple years later. I’m in sales and was training a new hire a year ago. I begged him not to buy the Audi EV. He paid 55k. In the last year it has been back to the dealer 6 times. He went to to trade it in and they offered him 30k. My advice, take the financial hot and get rid of it. Sometimes the best investment you can make is to stop the bleeding score it gets even worse. How much worse, I bet that car won’t be worth 10k in 2 more years.

[@batsonelectronics]

@@jacksparrow3490 maybe don't parrot stupid people who work for the gas and oil industries. Burning fossil fuels is hurting the earth and many people can get by just fine with an EV. The US government subsidizes oil companies, why shouldn't they do the same for EV's and Solar ?

[@dylanfgarrison]

As someone who’s genuinely interested in an EV (most likely a Ford Lightning) but has no need to buy now as all my cars run fine and and are fully paid off… this is fabulous news. Can’t wait to go shopping in a year to so.

[@hokie9910]

For a person as wise as you by running paid for cars…buying a Ford lightning I can assure you is the antithesis of a wise. Ford can’t give away their EVs…there’s a reason…always a reason.

[@NVRAMboi]

It's no more insane than the 40-50% MSRP increases over the last 5 years. This is like a reverse mirror image, but with EV's taking it in the shorts moreso than overpriced ICE vehicles at the moment (which, to me, makes sense given market current market demands). Congratulations to everyone here who avoided being robbed the last 3-4 years (by NOT buying a new vehicle).

[@hokie9910]

Exactly. Just say no!! Please folks stop feeding the bear.

[@renid2]

they're not depreciating, dealer have over valued their vehicles with their markups. Finally they have to drop their markups to move inventory and have lowered interest rates on the slowest moving ones.

[@rocksandoil2241]

Trust me. My 2014 AWD GMC Terrain, one owner but high mileage, no dents, was offered $2,500 trade in on a Ford Escape

[@evcharginginstallersofamer275]

$7500 of the depreciation also includes the tax credit. Plus, many of the vehicles not eligible for the tax credit if purchasing are eligible if leased and can be passed through.

[@SweetNeoCon407]

Buying a depreciating asset is not good, but buying a rapidly depreciating asset is insane.

[@hd3adpool]

@@alancooper4368lease is even worse. You'll never own that thing

[@speeddemon0712]

@@alancooper4368 Leasing is renting, you'll never own it. Buy something you can afford with cash saved up, or finance something very much within your budget and get it paid off in 2-3 years. People need to stop buying things with payments. That's why so many people are broke.

[@frederick6570]

​@alancooper4368 possibly for a EV like they said. Lease comes with restrictions, and typically, you do have to pay a down payment. Ultimately, they are using you to soak up the depreciation.

[@hokie9910]

@@speeddemon0712Totally agreed. I hope and pray people wake up to the insanity that the banks and manufacturers have created. Do you know how good it is to feel walking into a dealership, buying a slightly used vehicle, paying cash, and walking out knowing you won’t be back for at least 10 years. The banks absolutely hate people like me, and that in a sick yet satisfying way..makes me a very happy person. If your buying a car that is overpriced and you have to finance all your doing is feeding the beast. STARVE THE BEAST.

[@jerrylundegaard2592]

Virtually everything you buy depreciates.

[@catzlady.8189]

Hi guys. So I watched several of your videos and advice. We needed to buy a car to get our daughter to and from school…a Junior in college. So used your advice and techniques and wow we could not be happier. Got a great deal with little to no hassle. I got preapproved first from our credit union, called our insurance to find out what the new car would cost…talk about shocking! Rates are higher now especially for young drivers. Then checked how many days the car that we wanted was on the dealers lot. Checked the car fax and the maintenance performed by the dealer. We got a great little car for our daughter and at a good price. The sales manager was a little frustrated with me because I was direct and knew what I was talking about. But in the end he made a sale on the last day of the month, and I did say that to him. We both got what we needed in the end. Thanks guys. You helped us a lot!

[@robertgoodnow5069]

My father has owned an electric golf cart for the past 20 years that he drives around his private neighborhood. I’ve had to change the batteries 2 times (the batteries last about 6-7 years). The last battery change was 3 years ago. It cost about $1400 for (six)8volt battery’s …..if it had a gas Honda engine all I’d have to do is change the oil once a year for 6 bucks.

[@dwcanker]

Those are lead acid batteries

[@robertgoodnow5069]

@@dwcanker yes I have lead acid batteries. They do have a lithium battery but those cost even more. My point is batteries are not cheap

[@YoungPaddy-ov8rr]

I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.

[@MarcoMe113]

Investing $15,000 and received $174,000

[@MadaeJa]

Yeah get connected to Miss Anna , here's her line👎🏻

[@MadaeJa]

美國 十 𝟭𝟰𝟬𝟲𝟮𝟴𝟱𝟴𝟵𝟱𝟲👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻❤️❤️ 十 大家大家大家大家大家大家大家大家大家大家 copie desta forma O KZbin é frustrante

[@MadaeJa]

Tell her I referred you🙏🙏

[@tslaZabadna]

She is really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto journey

[@alzinifelshoni2602]

A broker in SoCal is advertising an S Class at 20k off. You can get a Lexus RX500h 10k off.

[@weswest8666]

Then they add in 10-20k in mandatory ad ons and junk fees

[@Derek-pq3zb]

I see 5-6k off on new RX500h..I think it should be 16k off of them lol. I think 70 plus is preposterous for it

[@alzinifelshoni2602]

@@Derek-pq3zb I, too, have seen 5-6k. I also went to Santa Monica Lexus to test drive a 500h and negotiated ultimately a discount of 10k from msrp. I still didn’t buy the car, but you can certainly push them for a deep discount

[@Cooper260]

I hope you’re right the prices are sickening.

[@kdub175]

to be fair, if you’re keeping your car for as long as possible, I guess the depreciation crisis wouldn’t matter, since you’d be keeping it till the wheels fall off and not trying to sell it.

[@minimutt1408]

Until someone rear ends you or otherwise destroys it. My last 2 cars died that way.

[@hokie9910]

As long as you buy a car that can last…at this point that would be Lexus and Toyota…maybe Honda as well. Anything else is a gamble at best.

[@DavisBrown247]

*Excellent !!! Thank you for the concise and to the point update I really do have a question. For some of us newbie in trading looking for where to start up what's your suggestion.... I've been trying to grow my portfolio of $58k for some time now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions*

[@FRANKCHIBEX]

I would suggest to reach out to Morris and start copy trading. what impresses me most about Morris is how well he explains basic concept of winning before actually trading for you. And letting you use he's trade signals. And he will also teach you how to trade as he trade for you. This goes a long way to ensure winning trades.

[@DavisBrown247]

Please I'm a beginner where can someone reach Mr Morris?

[@FRANKCHIBEX]

@Morris280...

[@FRANKCHIBEX]

He's mostly on Telegrams, using the user name.

[@DavisBrown247]

Thanks for this info I'll linking up to your coach. Appreciate the info❤️

[@jamesmustin7289]

Screw depreciation! I am an original owner of a 1997 Honda Del Sol Si. I paid $17,000 brand new. It has 221,000 miles . It is my only car. Del Sol in good shape are running $10,000 to $15,000 and even more. My advise take care your car . Through the crap out of your garage and take care of your investment. Screw to car manufacture and their corrupt schemes. The old time Germans would maintain their cars and use it lightly. Cars are the worst thing you can buy. Buy a good reliable car and keep it. The money blown on cars is sickening. People as was school children need to take home economics. My little car will do anything I want. If I need a bigger car Temporarily I will rent it

[@hokie9910]

PREACH!! Wise man.

[@marlinmr7]

Well this is a "market correction" as well as showing us just how over priced & over rated new vehicles are starting with Mercedes in the beginning but similar can be applied to anything brand new today. Vehicle manufacturers as well as car dealers need to come to grips with the fact that all of their greed of the last 5-10 years is coming full circle i.e. KARMA and it is fun to watch. 😂🤣😅😆😁👍👍👍

[@KealeyOnCars]

Want to know something even crazier about those Mercedes EQS? At the height of the chip shortage people were buying them for sometime a $100,000 markup here in Southern California.. ouch

[@sunnyta619]

Extreme environmental slavery mindset is a real thing

[@hokie9910]

There’s a reason the rest of us question the sanity of many people living in California.

[@witmal99]

I have seen so many videos, shouting, the car value are PLUMMRTING! So, by now, I think the car should be free on the basis first come, first served.

[@cmiles97x38]

I see these videos with the same message and updated data points yet local dealers are adding thousands in fees and more thousands for their "club" with things like security etching, ets on top of the "discounted" price putting it back to above MSRP. Even the Stellantis dealers are doing it. Not really seeing the hyped drop in pricing locally in Tampa, FL when out the door is the same with fees and addons dealers will not take off. They do offer "plummeting" values for your trade in though.

[@idontcutmccurysgrass]

Car values are plummeting everywhere but on the dealer lots! They are still asking TOP dollar for new or used! Your trade is worthless though.

[@CM-hd6ki]

This is true. On paper the value is xyz. But that is NOT what you can find when shopping. Even private sellers are way over asking for their pos vehicles.

[@lavernedofelmier6496]

I think it’s great, there getting closer to what the real value is.

[@MegaAlex010101]

I hope all the vehicles prices out there normalizes including Toyota

[@assenm9204]

A few hours ago my daughter and I were at CarMax Henderson NV. We saw a Toyota Camry SE 2018 (5 years old!!!!), 45K miles, priced at $23,998. I checked the online prices for some Las Vegas dealers and found the same model brand new for $29700, with $1600 of dealer add-ons. How will CarMax survive?

[@nothingtoseaheardammit]

Until there become standardized, reliable metrics that can be measured across all EV manufacturers for battery health status - there is simply too much risk in purchasing a ussd EV.

[@DJMadVibes1]

I bought my car in 2019 for 32k. Last year got a appraisal from Carmax and Carvana. They offered me 28-26k. Just got another email today from Carvana for 20k. But cant justify the cost of a new vehicle in todays market. They can eat doodoo

[@Erik-um1zn]

I wonder what the depreciation is on a Honda Civic or Toyota Rav4 is? It seems to me that popular vehicles like that depreciate slowly. Not to mention it is extremely difficult to find a slightly used one for sale; and if you do find one for sale, its not much cheaper than a new one.

[@azerogliev6520]

RAV4 hybrid depreciates the least out of any vehicle currently

[@Erik-um1zn]

@@azerogliev6520 Yes, and that is my point. Cherry picking EVs (which depreciate like a stone dropped in a lake) and other high value cars as examples can tend to distort the picture a little, just as picking cars that have the least depreciation (like the RAV4 hybrid).

[@doublesharp5795]

I live in Ford country Louisville Ky. There are 80k-9ok pick-ups, Expeditions, Broncos, Explorers parked in empty parking lots of closed businesses all over town and it's been this way for months.

[@prettyridesmedia]

Depreciation on Evs were easy to predict. Nobody goes into a store now looking for last year model’s cell phone.

[@EMichaelBall]

I buy used iPhones that still have two or three years of security updates (unlike most new Androids) for under $250.

[@prettyridesmedia]

@@EMichaelBall proves my point

[@alextrainor2552]

I bought a 2023 f150 xlt brand new in october of 2023. It was 10k off sticker so i got it for 52k. 6 months later its only worth 40k. Lost 12k of value in 6 months on a truck, which was in high demand for a long time.

[@kenmay1147]

Hello guys... Love your content. I'm struggling with the "buy used EVs" with my specific case. I purchased a 2024 Tesla Y long range in February for $38,500 after IRS $7,500 credit ($41,500 out the door). Using CarGurus for a 2024 Model Y LR with 3,000 miles i'm getting 43K for private sale. Adjusting to a 2023 Model y with 12,000 miles CarGurus is showing $37,500 private party. Is the the IRS rebate throwing things off? Who would buy a one-year-old vehicle with 12,000 miles for only $1,000 less (private party value) than a new vehicle?

[@azerogliev6520]

No one wants Tesla anymore, especially used one 😂

[@kenmay1147]

@@azerogliev6520 Thanks for the reply. I mean, it’s not really related to the question I pose, but still always nice to interact. My wrangler and 3 series are just collecting dust now. Maybe I’m just in the honeymoon period with Tesla.

[@jess_o]

28k offer for a 1 or 2 year old barely used BMW is insanity. I paid ~18k for my '07 back in 2012!!!

[@jacobstrouble6631]

The iX is electric. Your '07 doesn't factor

[@frederick6570]

Broke My Wallet. Don't buy crappy cars

[@jess_o]

@@jacobstrouble6631 My point is that even if you account for inflation on the MSRPs, the rate of depreciation for the iX, among other cars mentioned in this video, is staggering. Ludicrous drops.

[@hokie9910]

@@frederick6570I would agree. All you have to do is look at the 10 year depreciation rate of whatever brand of car your looking at….hint BMW, Audi, Mercedes, Rover, and Dodge are at the bottom…have been for decades. There’s a reason these cars depreciate so fast…it costs so much to keep them running. I’ll give you one guess at what manufacturer is at the top.

[@jerrylundegaard2592]

You are comparing a five year old vehicle to a 1 to 2 year old vehicle. You are comparing a 2012 price to a 2024 price. A false comparison.

[@Michelle-bw1xg]

Had to sell later than I wanted and buy replacement earlier as insurance threatened to drop all my insurances if I didn't buy the replacement first (had to save for it). Better to have done this in Novermber than now in the spring as my late 2021 car kept dropping in value. I typically keep cars for years; needs changed. Did use CarEdge sell tool to sell my car in 1 day.

[@crecasens]

It’s amazing how different the depreciation is between a total electric and a hybrid or plug-in hybrid. The hybrids can be hard to get.

[@petergodfrey4783]

The reality is these cars were way overpriced to begin with. The rapid depreciation just reflects what is close to a realistic value.

[@pleiadesperformance1170]

Any recommendations on getting a Ford maverick lariat awd ecoboost at msrp?

[@danielbeaty6215]

Love the videos guys! Biggest issue I'm finding here in Florida is actually finding a decent used car for sale from a regular human being. Everything I see on Facebook is overpriced from a crappy used car lot. 25% of those are rebuilt title. Where are the normal humans selling their cars these days? Craigslist was great until they started charging $$. Now FB seems to be the only place to look. I'm in the $10k budget range.

[@eciton9541]

I tried to buy a Honda Civic EX msrp is around 27k. Wanted to put 3k down and pay off over 72 months. The APR, tax, and extra fees and paying it off over 72 months was a total of around 37k. The interest added about 5k over 72 months. Went to a Chevy dealer, and got a lease of a 55k MSRP car at 1.2k down for 450 a month. In two years I'll get another brand new car to lease. It did not make sense to buy a new car with the extreme interest rates and fees. With the 37k I could've spent on the Honda, I now can get a new car every two years for the next 6 years at the very least. Lease is the way to go apparently.

[@MSC0330]

Thank you, great job‼️🏁🏆

[@sniperic1]

you all ever heard of this. The chevy dealership here in Tuscaloosa Alabama sent me a letter saying there were going to give me about 15784 for my wife's 2018 Equinox LS. That is a good price since we only owe 8k on it. I was thinking of trading up and that would be one heck of a down payment. So we go to the dealership and they look at the wife's Equinox and say ok we give you 10k for it. I was like what the bleep. This letter says you give me over 15k for it no matter the condition. The sales man said oh but you have an ls the striped down version now if you had the rs the upgraded version we would have given you the 15k. So he does the payments and sure thing not in the same galaxy. He said I pull around something I think you like, so the fool pulls around a Trax, I am like oh hell no. He then says well we have an ls coming in on the next shipment that is 26k we might be able to get you to the payments you are at. Talk about a bait and switch, is this thing not illegal? If they send you a printed letter stating oh we will vie you 15k don't they have to live up to that?

[@The_MKUltra]

Keep up the great work. Lot of great info helped me secure a strong deal on my upcoming lease.

[@JanaINJax]

I want a 2017 Accord because the 10th gens have oil dilution problems and are blowing head gaskets left and right in the 1.5T engines. The 9th gens are all going for at least $15k with over 100k miles and that's from private sellers/flippers. Dealers want even more. Hoping prices fall after tax season.

[@hokie9910]

Get the 2.0t engine, much better reliability.

[@jsk626]

A good friend leased an EQS for $0 down $550 per month, 12 month lease, 10K miles. They used $77K for the cap cost on a sticker of $112K

[@SP-LW.55.11.5]

12 month lease??

[@jamesm7517]

It's not just high end cars. I have a 22 Chevy Equinox AWD LT and I am leasing it. My residual value is $22500 and my current value on my Equinox is under $19000. I am going EV next and it will be a used one.

[@Semiam1]

Wow. Gonna have to revise that old trope “you know that your new car loses 20% in value once you drive it off the lot”

[@user-wg3wj6ur9z]

Good thing I only have a few payments left on my 2018 wrangler. Funny that people pay so much more now for wranglers that look almost the same. I paid 32,900 for my 2018 now same car is 47k!

[@breckfreeride]

50%, sounds about right... I don't know anyone who got a 50% raise in 6 years... And the heeps definitely aren't 50% better now!

[@dennistaylor6342]

You guys do an amazing job. I’m personally waiting for full size trucks. To start going down in price. A 2500-3500 series.

[@catnvol]

Karma is a xitch! Manufacturers should never has loaded up the cars the way they did, dealers should never have ripped off their customers the way they did, finance companies should never have loaned what they did, and customers should never have paid what they did. ALL are in the process of having their day of reckoning and it is well deserved. Unfortunately, it is going to impact the entire economy but at least all those that caused it will pay the highest prices.

[@jamestaylor8860]

Well said

[@jakegallagher4023]

Part of the depreciation in EV cars is the huge decreases in prices for Teslas, which makes up over 50% of the electric market. Its what all cars should be doing now imo, not just EVs/Teslas.

[@CatCommando]

dang and dealers here in southern Oregon are still trying to get 18 to 22k for 2016 BMW X5s with over 100k miles. I swear they would rather go out of business than sell something for a realistic price.

[@hokie9910]

Please don’t tell me this. My hope in humanity is already low. Who would buy a BMW with 100k miles period? PEOPLE PLEASE LISTEN…MODERN BMWS ARE TOTAL JUNK AFTER 70k MILES. Just look at depreciation rates of BMWs over 10 years…there’s a reason they drop faster then Donald Trumps bible business.

[@JA-zh5xi]

Imagine buying an EV thinking you made a smart move. I mean you did if you love setting money on fire.

[@johnstrand2247]

A "super center" just offered me $3,000 below trade in value for a car that they admitted they could find nothing wrong with. I have yet to see anything already for sale on the lot have a reasonable price.

[@jamestaylor8860]

Fellas! Could it be we are seeing the results of car sellers greed out of control? Prices were raised exorbitantly while the average smoes paycheck stagnated. Now we feel the backlash and it ain’t pretty. Add car companies rush to all electric. What did they think Toyota was doing. Had a great example in front of them and still missed it. Jt

[@jamesmoore9008]

Those cash offer websites are terrible I was offered $1200 for an old Mazda truck and up selling it Private Party for $3000. Same with real estate instant offers they are literally $150k less than I could actually get for my home. I just don’t think instant offers carry any weight to true depreciation.

[@greeneyesms]

The key word being “ask” as in “I’m asking $400,000 for my house but I’ll take $375,000.”

[@Dreadnaught1Aw]

So now the dealerships are going to charge more to offset the depreciation?

[@robqwertyuipp8750]

New car values need to go down like used car values !!

[@EgorV-ve6zc]

Ford Transits and similar cargo vans are still super expensive! $30k for 2018 with 100k miles. Im afraid these can go up even more. And I need one.

[@Kingdom_Piano]

I want to pay the $1k CarEdge concierge fee but I want to know if it’s tax deductible first

[@brettcarter6189]

If this is the case, then why am I hearing Give Me The VIN commercials that say they will pay significantly more than what your used car is worth because they believe car values are going to go up? Do they know something we don’t, or are they just that stupid?

[@EMichaelBall]

Depends on the car. I think cheaper EV’s like a Model 3 are near the bottom, because we’re possibly on the precipice of the general public figuring out the fuel and maintenance costs of those. If there’s a rush to those over Jeeps, then of course used Model 3 prices will go up. Jeep Compasses? Maybe not so much.

[@cynthiaivers1708]

1st time in several years my dealership is calling and emailing me. I think things are going to get very bad....

[@andreyd8116]

EV prices are plummeting due to many new models hitting the lots of many OEMs, high prices and challenging economic conditions. In turn, this lead to aggressive price cuts by Tesla, which the rest of EV manufacturers had to match to stay competitive. Used prices are following the new EV price cuts but also suffer from rapid improvements in EV technology. However, the root cause of the EV market meltdown is affordability - there are simply no cheap new EVs available in the market. If there was an EV alternative to Honda Fit for 25k available for sale I would buy one in a heartbeat.

[@joesmith6524]

NOT WHERE I LIVE!!$27,900 FOR A HONDA CIVIC AT 6.99%? WITH TAX AND FINANACING OVER 30 GRAND FOR A CIVIC????

[@nothingtoseaheardammit]

There are 2024 honda civic trims that MSRP for that much and indeed more. And complaining about a 7% interest rate is hilarious. Do you know how loan rates are calculated?

[@InternetUser._]

Saw someone on CL trying to sell their almlst brand new Camry hybrid for 38k. Almost 40k for a … Camry 😂 I guess they got tired of paying $850 a month 💩

[@tld_obsidian2682]

How do you access that page where it shows the cash offer?

[@Krushe]

Sure wish they were plummeting in my area. I’m seeing some raise prices 😢

[@privacylock855]

I just opened by 6 month car insurance renewal bill. No Price increase from 6 months ago.

[@waynewallace2061]

Wouldn't a lease also allow for the huge depreciation in the monthly payment?

[@tarakivu8861]

hahahahaha, of course not. Gotta keep making them money. Leasing is one of the worst ways of getting something.

[@DS-wo8wr]

Yes!!! The payment goes up as the residual value goes down.

[@Derek-pq3zb]

Ok thx. I’m sure sitting there in person,you can def get more off…I believe the RX500h starts around 65k..it’s a nice vehicle. But I wouldn’t pay over 51-52 for it. It just not worth it IMO

[@TheKingOfInappropriateComments]

My Cx-9 dropped 40% in just one year and I paid well below sticker/MSRP. It's not a bad car either. But boy did its value drop like a lead balloon even with very low miles. I'm used to pickup trucks that hold their value better. ICE vehicles are really falling hard too, not just EV.

[@hokie9910]

Mazda’s have never been known for holding their values.

[@TheKingOfInappropriateComments]

@@hokie9910 40% though? Geezus.

[@hokie9910]

@@TheKingOfInappropriateComments Unfortunately it’s the beginning of the crash and when people buy at inflated prices this is going to happen. But why do you car, it’s only a year old. Aren’t you going to drive this car for a long time?

[@TheKingOfInappropriateComments]

@@hokie9910 I paid several thousand under sticker though. And even that took a week of negotiation. To answer your question, I was just seeing what else was out there and found a pickup truck that I really like. A better fit for me anyway. But they were killing me on the trade so I passed.

[@hokie9910]

@@TheKingOfInappropriateComments This to me is getting back normal. Before COVID many cars would plummet the minute it drove off the lot. Maybe not 40 percent, but definitely 25 or 30

[@BurnseysRT]

I bought a used 2022 Tesla Model 3 for 37k. I bought it 18 months after manufacture. The MSRP was 60K. My cash offer is 29K. OUCH. Fortunately I had 8K In Trade equity. If I had waited to buy I would have lost 6K of my trade equity.

[@hokie9910]

Why are you trading in a car so soon??

[@Jake-pf4kv]

I haven't noticed at carmax😂

[@c-qc-q2021]

Here's another take. If you bought a "Mercedes" at the height of the pandemic for a product that was marked up 100%, you were a fool. You should have bought and driven a beater for a few years... or just fixed your old car. Here's something else to consider: $30K, invested in the stock market, has the potential of returning $78K in 10 years, so buying an over priced car back in 2020, just delayed your retirement an extra year.

[@rasserfrasser]

So if you get in a car wreck, how does this depreciation affect your insurance appreciation?

[@potentatewags]

They need to drop brand new 40% and house prices 50% before we return to where things should be.

[@joshuaturnage5243]

At less than 70k thats still too much

[@Barbarapape]

Any item no matter what it is can only be sold for what another buyer is prepared to pay. Reality is at last hitting the values of cars that are way overpriced at MSRP. This can only get worse, what goes up will given time come down. Now i wonder what all those buyers are thinking and feeling who paid over MSRP.😞

[@Travler-xr]

I just tried a very basic i4 on public listing WBY43AW05PFP65717 and KBB value is 40k. So it’s not as cheap as 29k as mentioned in video. Why the difference?

[@blue06lt]

My 2020 Chevrolet Bolt EV has 213,000 miles on it and runs like a top. I owe a little less than $8k on it, trade in value is around $3k. I will pay off the note and just drive it into the ground before I replace it. Screw these dealerships who are continuing to rip people off.

[@dadTan-v7w]

always buy never lease. bought a car in 2010 and I still own it

[@leeedens9497]

There's a depreciation crisis in the EV segment of the auto business, that's because they are overpriced, but looking at the cost of some new pickup models, that may be a segment that will have problems as well, if buying a new EV doesn't make sense, why would any car company or financial institution back a lease of an EV, knowing the resale value is nothing (or worthless)

[@wileynowling]

I am trying to find a channel that will tell it to us straight. These guys along with a handful of other youtubers have been spewing the same thing for almost 2 years. I do not see the market adjusting. The most we have seen is markups have largely gone away. But the MSRPs for all full size pick ups are around 39-40 for the base of base model they offer. In 2018 40K would buy you a F150 4x4 Lariat with the engine of your choice.

[@craigpierce7996]

The depreciation is going to hit really hard on the over priced and over produced models.

[@b.m.5610]

It is what it is But its painful, our car was totalled about less than 2 years ago and we needed to get a car fast but we bought it at the peak of the freaking used car prices! Its a toyota camry hybrid and we paid 32k for a used one, now we are about 7k negative equity but it is what it is just wanna make extra payments

[@SanDiegoRunner]

You have to be a full blown lunatic to have spent 150K on an EV

[@EMichaelBall]

That’s the MSRP of the coming G-Wagon EV. And that’s gonna hold its value - if you can even get one from a dealer at MSRP.