New Cars Will Never Be Affordable Again.

Рет қаралды 8,702

The Ben Hardy Show

Күн бұрын

Пікірлер: 99

@thehammer3340 7 ай бұрын

Used cars are cool and affordable, thank you sir

@leedanielson7452 7 ай бұрын

The last four years have been unbelievable... never saw nothing like it in my many many decades on this earth....

@grizzly311tr 7 ай бұрын

Interest rates peaked at 20 percent in the midst of an energy crisis in 1980. Quit feeling sorry for yourself. You have more access to financially empowering yourself than most everyone in 1980, get after it.

@leedanielson7452 7 ай бұрын

@@grizzly311tr if you have your head buried in the sand like you probably do, that's all you would think... Bidumb and the Demoncrats are running this country into the ground! Thank God starting November 5 we're going to be right back on track!!! I see good days ahead! Praise the Lord!!!

@Mike-bi7kb 7 ай бұрын

@@grizzly311tr The difference between then and now ( I lived through that time with a mortgage and a car loan ) is the Fed rate was 17% and my mortgage was 18%, 1% difference, the same with my car loan. Today the Fed rate is 5%, and new car loans are 10%, used 16% and mortgages 9%, on a much, much higher balance.

@johnkonde1975 7 ай бұрын

@@grizzly311tr In 1980, cars were one fifth the price of modern day 2024 cars. So the 20 percent interest didn't mean much

@grizzly311tr 7 ай бұрын

@sachinnair91 a simple Google search would have shown you that average salary today is 60k whereas in 1980 it was 12k. I was never too good at math but you should stop pretending you have it so much tougher when in reality its about the same

@buck546 7 ай бұрын

I remember growing up in the sixties when only certain people owned new cars. Typically it was bankers, small business owners, and car dealers themselves. Everyone else drove used cars. Today I am not sure the bankers or small business owners can afford new cars or trucks.

@bradhewitt6779 7 ай бұрын

Totally agree. The toyota sienna went up 2000$ this year nothing new using the oldest infotainment system. Bit they were in such high demand the can get away with it.

@davidalexoff1658 7 ай бұрын

My dad told me they sell cars for $50k because people will pay $50k. Duhh.

@dennisvanpopering3490 7 ай бұрын

Here in Michigan. Betten Baker in Coopersville. Are selling a Chevy 2024 truck with over a 30 grand market adjustment. The dealers deserve what is coming to them.

@seanpaul9164 7 ай бұрын

I don’t think that these vehicle manufacturers are losing as much money by discounting these vehicles as much as people think. They want you to think and believe that, but I just don’t think it’s the case. They are discounting these vehicles down to what their MSRP’S were pre-pandemic. So in reality, they are probably making a little per vehicle sale with these huge discounts.

@youarerightboss 7 ай бұрын

Only suckers are paying these exorbitant prices for these depreciating liabilities

@tjf7101 7 ай бұрын

For what it’s worth. Subaru seems to be a good route to go or at least look at. I was at a dealership in 2023. While I didn’t buy. They were not gouging.

@raymondcanessa7208 7 ай бұрын

fixing the old car is the best investment you can make may be a 10-year-old camry or corolla if you must buy new a new corolla for 26k after tax

@wallbangerzsports 7 ай бұрын

Honda Odyssey base model for $29k

@JoeSmith-v7o 7 ай бұрын

New cars would be a lot cheaper if there wasn't any of that damned surveillance tech inside. Just give me a vehicle that has none of that technology, no always-connected Wi-Fi, no built in GPS, etc. No damn touch screen. Give me knobs and buttons and dials.

@wallbangerzsports 7 ай бұрын

Honda Odyssey base model

@kelviskelvis7140 7 ай бұрын

@user-gx4ky6ct8c Most new cars would make more sense price wise if they did not have any of that damned pumped fuel handling tech inside. Just give me a vehicle that avoids gas stations and oil change servicing centers that scam you every time you go. Give me a plug to plug into. I just want to drive without draining my wallet every few miles.

@pmmahone1 7 ай бұрын

Weeks of income/price of a new car- that is a great metric. Hadn't thought of that.

@ricklp1861 7 ай бұрын

Theres a lot of dumb buyers out there

@raymondcanessa7208 7 ай бұрын

Can't fix stupid

@yardboy3955 7 ай бұрын

So if more people cant afford a car would that mean auto makers sell less cars? Don’t prices have to come down to a price people are willing to pay?

@steved0123 7 ай бұрын

Billions invested in plants and machinery, to sell a handful of cars. Brilliant management.

@efandmk3382 6 ай бұрын

When were new cars EVER "affordable"? Everything is relative. In the 1950s you could buy a new Chevy for $2000.00. However, at the time two thousand dollars was the average annual income.

@2chuck 7 ай бұрын

Buyers have to get raises to afford today's auto and insurance prices, or the prices have to drop. If neither occurs there will be a lot of a lot of Bankruptcies. Greedy Companies will find there is a limit and they have probably already exceeded it IMO.

@rydawg64 7 ай бұрын

Manufacturers are pricing cars to high, and the feds are keeping interest rates high. Dealers have massive overstock of vehicles, and cannot sell them fast enough. It's an overall bad time to buy a vehicle. The manufacturers need to expand lease and purchase deals(not just on base models) to circumvent the high interest rates of the banks. I also noticed that some dealerships still have the COVID mentality, and are not motivated to sell their inventory.

@astcadillacreview2767 7 ай бұрын

Well remember when vehicles had $20,000 off. Now the scales are balancing out if you do the math. No complaints when the consumer economy was getting "massive discounts."

@TJ-8 7 ай бұрын

Seeing overflowing of inventory here in my area. Literally one Dodge/Jeep lot can't cram anymore in.

@youarerightboss 7 ай бұрын

Even with the massive discounts, the manufacturers are still generating huge profits

@larrycollie5330 7 ай бұрын

The price of vehicles are crazy,and unaffordable today I think the main cause for this is all the technology that is not needed if you know how to drive,and the UAW raises someone has to pay for their pay raise, You!!!! Are,and high high interest rates add it up and you have over priced vehicles, just my opinion.

@markhodge5688 7 ай бұрын

The only way they learn is for these cars to sit and rot for years on the lot - let them sit - then they realize eventually what we are mfg customers don’t want - I have a 2017 Tacoma the chances of me buying a new one at the current prices are zero. What is a new truck with a high payment going to do for me that my current one doesn’t do ? I have blue tooth, xm radio, new tires and brakes….years ago I may have thought about “upgrading” but now at these prices I’m happy with what I have

@leedanielson7452 7 ай бұрын

Auto makers need to do very steep discounts!!!! Did I say very steep??? Yes!!!!

@CheekyMonkey888 7 ай бұрын

you will own nothing, and be walking everywhere

@davidzavala337 7 ай бұрын

The problem is mostly idiots and ignorant folks who buys overpriced vehicles. My mom is the typical ignorant buyer who the dealership loves, you know the type that focus on car payment first, buys whatever the dealership tells her, but luckily, I always go with her. An idiot are those who have the money and yet pay mark ups justifying themselves by saying they have money.

@_xyzyz_ 7 ай бұрын

Thought prices going down would let me finally replace a 13 year old Lexus. But even new Lexus cars have turbocharged engines so doubt a new one will hit 300000 miles so still holding off buying. This is some greed at car companies but probably more fault on the nut jobs in government and their schemes to get us ALL out of personal vehicles for good. Maybe we will be like Cuba and I’ll stil have my Lexus when it hits 600000 miles

@dccd3237 7 ай бұрын

There are millions of serviceable vehicles already existing so there will be cars to buy. Makers and dealers will just lose market share to more people selling on their own. Wouldn’t be surprised to see good mechanics working with smaller dealers partnering in a fix-and-sell emerging market. The real problem is that new cars are too dependent on electronics and computers, and that’s the real reason why dealers are pushing high-end and EVs because once they get a customer into those, they control the entire ownership experience.

@garypope6382 6 ай бұрын

The car companies were quick to settle union demands only to talk of taking manufacturing out of the country.

@terence4427 7 ай бұрын

I just purchased a Lexus ES 350 for 46k (3.7k under MSRP) with a 4% interest rate. I looked at a similar vehicle just two years ago, it was 50k with a 3k market adjustment and add-ons of about a 1k. Yes, times are changing, and dealers and manufacturers have made it difficult for themselves.

@A2Hard 7 ай бұрын

Sorry but 46k for a es you got ripped off, should have gotten a used car

@terence4427 7 ай бұрын

@@A2Hard . I got ripped off. How so? The list price for the car was 49,700.00. I got 26k for my three-year-old Subaru Forester. I financed just 28k and will pay that off within one year as I am doubling my payments. I have a great job and make a substantial income, and I generally live significantly below my means. I'm good.

@A2Hard 7 ай бұрын

@@terence4427that’s good for you that you know how to save your money and keep track but I’m just saying my statement based off listing price of 46k you will always be upside down majorly

@A2Hard 7 ай бұрын

@@terence4427and if you are able to pay off 28k in one year on a car that was not the smartest decision to finance should have bought a used one all cash and avoided a lot of taxes and fees

@littlestinker9716 7 ай бұрын

@@A2Hard Have you looked at prices on used cars? Used 2021-2022 ES350 with 35K-50K miles is ~$40K. New is a *way* better deal.

@KA9DSL 7 ай бұрын

It's a hopeless cause, need to replace my wifes car. But car prices versus fixed income just isn't working out. Her car is nickel and diming me, just yesterday I had to replace the brake master cylinder on a 21 yr old Tahoe. It's a never ending saga.

@user-qc7dr3cd3q 7 ай бұрын

Still much cheaper to fix than pay $70k for a new one.

@KA9DSL 7 ай бұрын

@@user-qc7dr3cd3q That is so true.

@TruckinNpluckin2 7 ай бұрын

That’s a hell of a lot cheaper than a 12 or $1500 month payment on a new Tahoe. You need to learn how to do math new cars or pieces of shit. Old cars can be fixed. Do the work yourself.

@Maplecook 7 ай бұрын

Happy longtime owner of 3 Japanese cars from the 90s. New car prices going through the roof? Let'em. haha

@danielyi543 7 ай бұрын

Can't lower MSRP. CEOs' and Stock holders demand and greed. More dividend and highest share prices.

@salimrandall 7 ай бұрын

The law of price and demand is still in effect. Prices will lower, when demand lowers. It’s simple.

@Nanashi_MYOB 7 ай бұрын

Move metal?😂😂😂😂 I've seen soda cans with more structural stability. Now, why not choose consistently stable income? That sir is a nuanced question with many answers. One could write a full textbook on it and still not cover everything. But, I guess the simple answer is greed.

@midnightexpress1567 7 ай бұрын

Fees and taxes add the most cost. If the sales tax and registration were to go away or go down the market would explode. Thanks government.

@twloughlin 7 ай бұрын

You didn't even mention insurance costs these days. The three-legged stool is MSRP, interest rate, and insurance cost. They're all too high to the point where the average person can't get his/her/their ass onto the seat of the stool.

@wallbangerzsports 7 ай бұрын

Exactly !!

@ADxG1369 7 ай бұрын

The dealers make so much money on each vehicle sold - they can hold their entire inventory for months at a time with no problem. The dealers and automakers are making solid profits. We need to stop 🛑 spreading the myth that the dealer profit is single digit margins. There is no way a dealer’s cashflow could survive on that. They would have to be between 30-45% depending on vehicle to handle such extended floor plan costs.

@sompasongs 7 ай бұрын

They can over price the cars all they want, my paycheck isn't getting any higher. I ain't and many Americans ain't buying shit! Those over priced vehicles can sit forever in the dealership lots, 😂😂😂

@arnie1005 6 ай бұрын

What in the world are you saying ? Income 37?

@jeepcam84 7 ай бұрын

Going back to Stone Age no more pollution 🎉

@markhodge5688 7 ай бұрын

Not screwed at all - simply don’t buy like I have done for years - buying a new car is foolish - you lose tremendous amounts of money for nothing more than a smell

@abirsanu 7 ай бұрын

Not really. Because the used car market, about more than 50% of it, are vehicles that have not been properly maintained as I want for example. A lot of them are not in the condition I want. A lot of people don’t take care about their vehicles. People are not meticulous like me. So why I should buy these types of vehicles? It’s very hard to find a good used vehicle to match price and condition. That’s why if there is a certain model I want to keep it for many years, yes, I buy a new vehicle.

@WayneGarrity-ri1tr 7 ай бұрын

Remember the last time auto makers got bailed out? I do and it’s going to happen again. That is exactly whats causing this now and stupid stimulus checks. Corporations regardless of how big need to be allowed to fail if you’re going to have a free market.

@jeepcam84 7 ай бұрын

US dollar weak that’s why is expensive

@lycanwarrior2137 7 ай бұрын

This same video could be made for housing unfortunately.

@anaveragehuman2937 7 ай бұрын

Free market says charge what the market will bear. Eventually they'll run out of dumb money to exploit and start going after the rest of us with more competitive pricing.

@angelr4429 7 ай бұрын

Corporate greed at its finest. You CANNOT increase prices on all products...and have people not make enough at home. For example if car prices increased 20% last 3-5 years but folks only increased their income by 5-10% is is not good for the economy.

@phillyfathead 7 ай бұрын

Ummm, get use to the higher prices maybe not the dealer markups but higher prices are here to STAY!!

@lot2196 7 ай бұрын

Why would they drop prices? They know an idiot will come along eventually.

@ML-lg4ky 7 ай бұрын

Inflation is here to stay folks. 34 trillion in debt our country is in. Prepare for $20 soda and $50 dollar happy meal. Oh and get used to driving used cars! Cheers

@Cody1234-q4y 7 ай бұрын

When the bank rate is as high as it is people will opt to take the lower rate and incentives offered by the manufacturer to have full warranty and a new vehicle over a used one with higher payment and no warranty. I didn’t want to buy new but the payment was less and overall price with interest was less-even after paying $20k more up front!

@michaeln4018 7 ай бұрын

What’s great is my hoopty’s are going up in value more and more by the day now these new cars are so unaffordable.

@chrisgeisel3720 7 ай бұрын

Keep fixing up your old wheels let the dealerships hurt more

@ericfriedle456 7 ай бұрын

Stop blaming interest rates. Historically they are good we’re just coming from a seriously low rate. Also stop taking these massive increases rates from the dealers. The government keeps requiring more and more. We require more airbags than any other country for safe you don’t think that stuff adds up to the increase price it does. As well it comes to the costs. The labor is a part of it. Not just at the final assembly plant but the parts distributors, as well as all the markups of everyone outsourcing parts. Something like 80% of the vehicle parts are made by outside vendors. That alone means if it’s a 50,000 vehicle about 10% is outside company margin alone. Then the automaker marks up the price from there.

@blakespower 7 ай бұрын

gotta play catch up with salaries before the next economic disaster usually happens every 3-7 years

@AutoEnthusiastJC 7 ай бұрын

The WH’s spokeswoman says the economy is great, so don’t know what you are talking about saying the economy isn’t in a good position. 😜

@TruckinNpluckin2 7 ай бұрын

Who cares? Who says newer is better?

@sthr2110 7 ай бұрын

"New cars will never be affordable again.". Ummm, yeah...ok, Carnac the Magnificent.

@brianvance-xe7jg 7 ай бұрын

blame covid supply chain issues and greed

@robertannable9584 7 ай бұрын

#BIDENOMICS

@hongshi8251 7 ай бұрын

I don’t know if anything has really changed much over the years . Certain people just like to have nice things. Others try but they can’t afford it . Most get by ok.