Why Dealerships FAIL

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Lucky Lopez

Lucky Lopez

Күн бұрын

Пікірлер: 284
@azmike3572
@azmike3572 Жыл бұрын
Refusal to buy is always the consumer's strongest weapon.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Facts!!!!!!
@gwillis01
@gwillis01 Жыл бұрын
The ability to change your mind and walk away from a deal is a wonderful thing.
@azmike3572
@azmike3572 Жыл бұрын
@@gwillis01 Yep. Until the salesperson pulls a gun and says, "I'm afraid I'm going to have to ask you to come back and sit down--now." 🙂
@sisch1
@sisch1 Жыл бұрын
@@azmike3572 Well he better be a good shot because I’ll have mine on me too lol
@cosmotraumatika7474
@cosmotraumatika7474 Жыл бұрын
My Toyota dealership wanted $120 to replace the cabin air filter last oil change. The Toyota part retails around $20. It takes five minutes to clear out the glove box, unscrew the panel, exchange and reverse. We're done getting screwed for service because the dealer is making up for a lack of buyers interested in MSRP or above.
@gwillis01
@gwillis01 Жыл бұрын
What I am paying the service department for is their ability to find the panel quickly, find the screw that is holding the panel securely in place quickly and do the job without the time consuming fumbling around that I would do if I tried to do the job myself.
@fredwilliams8898
@fredwilliams8898 Жыл бұрын
Yup, and our "consumer advocacy" media is so weak that they don't even point out this abuse. I pay the dealer for access to its software that I can't get, everything else I do myself faster, better, and at an order of magnitude less cost!
@muttyvisuals577
@muttyvisuals577 Жыл бұрын
@@gwillis01 so you think that’s worth a 10x markup when it literally takes more time to clear the glove box out then to do the actual job?
@Beefsnorkel1337
@Beefsnorkel1337 Жыл бұрын
did you ever think, 5 years ago, that you'd be THE authority on youtube on the car business? good shit Lucky
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
It’s crazy. If it wasn’t for the pandemic. Never would have started posting more videos
@anthonyhuffman6052
@anthonyhuffman6052 Жыл бұрын
He has no clue. Three or four months ago he was riding around auctions saying that none of these cars are selling. Meanwhile the Demand is still much higher than the supply. It’s all a joke
@DynoDieselWagon
@DynoDieselWagon Жыл бұрын
Iv found If the GLASS is cleaned both inside & out , you can grab $1000 more & sells 10x easiers
@chuckles2040
@chuckles2040 Жыл бұрын
Ford caved in and offered me 0 APR , 36 months, no downpayment. +4k on trade in. Deals are going to get better, this is just to move metal. I said drop the F150 by 15k, and its a deal. The dealership said 'we won't make money', you should have thought about that when you were asking 12k over MSRP.
@teegeeontario1180
@teegeeontario1180 Жыл бұрын
Sometimes the best car you can buy is the one you already own. If it's paid for and runs, you can keep your cash for other things.
@Roonertooerrands
@Roonertooerrands Жыл бұрын
I was a finance manager throughout the 2008-9ish crash and this is exactly what happened then as well.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
It’s like a flash back
@ZayTson
@ZayTson Жыл бұрын
It's almost as if people unfortunately don't learn from their past mistakes... smh
@robnduhcut
@robnduhcut Жыл бұрын
They made the old cars to reliable. My 2011 still feels new 😂
@ZayTson
@ZayTson Жыл бұрын
@@robnduhcut Agreed, half the cars in my rental fleet are 2008-2014 and they have almost no issues (even when on monthly rentals). And then I have a 2022 Sentra, that I needed to get a repair for already 😭
@LucasFernandez-fk8se
@LucasFernandez-fk8se Жыл бұрын
@@ZayTson well it sounds like at least depression era cars are more reliable? Maybe this new depression will create more reliable cars
@brianphelps1804
@brianphelps1804 Жыл бұрын
I drove to Henderson, NV to test drive a 2022 F-150 Lariat. Sticker price and online price said $74,295 but when you get to the dealership they’ve added $7500.00 as market value. They removed the “market price” $7500.00 as a part of their best offer to me. With all the other added fees it went back to an out the door price of 82k. This truck was built in August of 2022 and is a few months from being 2 years old and they want 80k???? No thanks! I’ll wait for the implosion
@underachievingwatchcollect1878
@underachievingwatchcollect1878 Жыл бұрын
A good car channel is Car Questions Answered.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
We chatted a few times 👍
@GG12649
@GG12649 Жыл бұрын
It’s funny how dealer won’t give you any discounts but then they drop the Price after 3 weeks but they are embarrassed to call you and tell you we dropped 😂
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
All the time lol
@MrPeng
@MrPeng Жыл бұрын
I actually like it this way , you pay more money if you are in a hurry, you save a little by wait a few weeks. No haggle easier for both side
@MrJBZY70
@MrJBZY70 Жыл бұрын
They will just call you back 4 months later asking the same questions
@michaelcanez6940
@michaelcanez6940 Жыл бұрын
So true lol
@flamingspinach
@flamingspinach Жыл бұрын
@@MrPeng yeah I don't bother trying to haggle, I just tell them "I like the car but the price is too high for me, feel free to contact me if you lower the price in the future, but I'm out for now, have a good day" and leave
@Strykenine
@Strykenine Жыл бұрын
I think Carvana's failure is different from other dealerships failures. I could be wrong - but I have a Carvana going in near me and I was wondering for the longest time wtf the building was even for. Now, if Carvana goes under, who is going to want a giant glass tower. You can't use it for anything else. What a waste of money.
@gladegoodrich2297
@gladegoodrich2297 Жыл бұрын
Car dealer for 30 years. Started small and built my inventory. Never fell for the flooring trap and owned the cars on the lot. Never took trade ins or did buy here/pay here financing. Plenty of good quality customers so I didn't deal with the deadbeats. If they couldent get a loan at the credit union, I sent them on down the road. Most of the dealers who told me I was crazy, went broke! Sold thousands of cars and did very well.
@evanharrison6378
@evanharrison6378 Жыл бұрын
Why did you stop?
@salimrandall
@salimrandall Жыл бұрын
You forgot about guys in my situation. I used to buy a used 2-4 year old car every 3 years like clockwork. My family has two cars. With the market change I’m holding on for dear life to my used cars. I will not trade up until the market cools.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
It’s killing the market
@lot2196
@lot2196 Жыл бұрын
Exactly. The 2 - 4 year old cars were the main vehicles middle class people in my area of Ohio counted on. Those were our "new" cars. It was a major purchase even at a few years old. These prices are devastating to us.
@fvgrrghytrrrcg
@fvgrrghytrrrcg Жыл бұрын
You can lease a Tesla Model 3 for the same monthly payment as a Camry. Whatever you think about Tesla, the lower prices often (just not too low to cause 6month wait times).
@ajmc7461
@ajmc7461 Жыл бұрын
@@fvgrrghytrrrcgwhy in the world would you lease lol
@fredwilliams8898
@fredwilliams8898 Жыл бұрын
Good point, I know a few that would do this. They would buy this type of car, drive it for three years while doing minimal maintenance (maybe a single oil change) and repeat. Now they are in denial about how long they have been in their cars and basically stopped counting once they hit the three or three and a half year mark. Clearly worried about what might break in their now six or seven year old ride. Some have even bit the bullet and angrily started to do oil changes! They come to me seeking advice seeing that I am still tooling around in my twenty plus year old junk.
@koby2995
@koby2995 Жыл бұрын
I own a dealership and demand is shit right now, crazy thing is clown dealerships keep overpaying for cars at auctions like there is no tomorrow.
@benrichards9667
@benrichards9667 Жыл бұрын
My buddy took his kid to a dealer based on a Subaru posted online. Went there, sub sold 2 weeks ago. They tried getting him into another car. Wouldn't start. Next car, test drive.. hit brakes and stereo stopped working. He said, he'll no. Good bye
@underachievingwatchcollect1878
@underachievingwatchcollect1878 Жыл бұрын
More people will become DIY guys and hold on to their older vehicles 🚗. Picking up a good scan tool soon! Best regards 😎.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Very true!
@dennispatton2356
@dennispatton2356 Жыл бұрын
I agree more people are gonna be doing work but not most people, I believe part stores are still doing great and repair shops are still busy for a lot of the same reasons
@dalesuddeth5294
@dalesuddeth5294 Жыл бұрын
you do a great job with your honesty. its the only way to be.
@troysanchez776
@troysanchez776 Жыл бұрын
Good to see that there are a couple of other major channels doing their own research on the other sides of the country finding similar things.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
True
@Flat4Power4Life
@Flat4Power4Life Жыл бұрын
I see full lots everywhere and inventory is not moving, they can keep the prices high for as long as they want I don’t care. I won’t buy until price’s return to normal and interest rates lower.
@gwillis01
@gwillis01 Жыл бұрын
One of the problems is that people almost never buy a car for hyper--rational reasons. They believe all the hype in the tv car commercials about the right car making you look fashionable, sexy, powerful, wealthy, etc etc... It's a bad idea to buy the same car as your favorite movie star drives as part of your favorite movie if you cannot afford the payments.
@sherylturnerturner1352
@sherylturnerturner1352 Жыл бұрын
I've been waiting from the beginning of Jan/2023. I didn't realise what went on during the pandemic. My car actually is a beater but was waiting on cash to buy my next. Ugh, hard to wait but not buying at this price, b.s. is right!
@chrisdominguez5632
@chrisdominguez5632 Жыл бұрын
I like how lucky is not in the left vs right paradigm
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Facts I’m for small business and making money
@chrisdominguez5632
@chrisdominguez5632 Жыл бұрын
@@LuckyLopez777 today society it's to blind both sides wants this gone
@mikecon7634
@mikecon7634 Жыл бұрын
But we all know he leans right.
@ewxlt
@ewxlt Жыл бұрын
Capitalism for the win. 😊 Greedy dealers about to get owned.
@jamesrecknor6752
@jamesrecknor6752 Жыл бұрын
@@mikecon7634 Pro business, is anti communist.
@dwaynelasater2350
@dwaynelasater2350 Жыл бұрын
You're a great educator Mr. Lopez. If you were one of my teachers in high school, I am positive I would have learned from you and passed.
@vincentortega4284
@vincentortega4284 Жыл бұрын
Great information. Also as an interest rate increases, money will get harder to come by, and more car buyers with auto loans will find it harder to make those higher payments, possibly leading to more repossessions of people delinquent on their loan payments.
@fredwilliams8898
@fredwilliams8898 Жыл бұрын
This is what one might think, but I think Lucky says the lenders are attempting to avoid taking possession, "kicking the can further and further." I agree with him and believe we still are in for much more waiting before sanity returns to the used care market!?!
@democracyforone
@democracyforone Жыл бұрын
Number 4: A lot of people waiting to buy a car aren't going to have a job in 6 to 12 months.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Very true the economy is shit
@chrismiller1818
@chrismiller1818 Жыл бұрын
I watch a few channels like yours and the guy I watch goes to auctions everyday he said all his competitors are all over paying thinking tax time will be there saving grace and he said just about all of them will go under because there won't be enough tax money to go around and they will be stuck with those vehicles
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Definitely a lot of dealers over paying right now. Hoping the tax season pays off.
@chrismiller1818
@chrismiller1818 Жыл бұрын
​@@LuckyLopez777 you might watch his channel....car questions answered...
@omarjohnson3411
@omarjohnson3411 Жыл бұрын
@@LuckyLopez777 IRS announced several years ago, they would no longer be your savings account. Dealers looking for that fat refund check, will be left holding the bag of over priced used cars.
@TurboJohn316
@TurboJohn316 Жыл бұрын
Walked away from a 2015 4Runner I know 4R’s always have value but seeing the prices steadily fall over the last 4 months even in that market I wasn’t going to over pay for a used one.
@angelaleman3854
@angelaleman3854 Жыл бұрын
Finally I can get a beater from auction for under $1500
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
$$$
@mclucky7086
@mclucky7086 Жыл бұрын
New vehicles can have more breakdown parts than older models. $5,000 - $8,000 with 90,000 mls seems just about right.
@dannycrooks8462
@dannycrooks8462 Жыл бұрын
Last year all my local dealer lots were near empty now they're bursting with stock people just aren't buying at the moment
@516delrod
@516delrod Жыл бұрын
Lucky Lopez is the man. He knows what he’s talking about 👍🏼👍🏼👍🏼
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Facts 😁👍
@Rainos62
@Rainos62 Жыл бұрын
ive noticed the dealership has been calling me several times to get me to return my car early. Im holding out until I get a price im confortable with for my lease and i have till late september so im in no rush but im hoping to get a way better deal
@chepegoes9626
@chepegoes9626 Жыл бұрын
Banks and CU have tons of tricks up their sleeves. A smart AR team never looses. I use to run the collections Dept. We did tons of tricks to make up on repos. All legal. I also help managed a used car dealership and worked at a franchise dealership to. Done a little of this and that. Just got my license last week. Time to eat !
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
$$$
@Zachary1124
@Zachary1124 Жыл бұрын
AR team?
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
@@Zachary1124 accounts receivable
@trekguy23
@trekguy23 Жыл бұрын
A few weeks ago went into a Honda dealer in the Pacific Northwest because I was interested in the base model HRV LX and it was marked up 10k over msrp. Ended up going with one of my other choices and got a 12 golf TDI with 60k for 15k. I chose the smarter more affordable car choice and my payments are less than 100/mo more than my previous car and my interest rate is 7%. Very doable.
@derekchappell8509
@derekchappell8509 Жыл бұрын
I’ll buy a Raptor next month if the market adjustments come off the new stock. Until then it’s shade tree work on my ‘96 Bronco with a 5.0 that runs like a clock.
@jdjames997
@jdjames997 Жыл бұрын
I’m waiting for a Raptor also. Just went to a local dealer in Southern California and they wanted $10-$15k over MSRP, and sited Covid as the reason. I laughed and walked out. I like Raptors, but they are overpriced F150’s, and until dealers get smart nobody is going to buy them. The Lightning prices are worse…
@gwillis01
@gwillis01 Жыл бұрын
What I hear you saying is that it is all about the ratio. There has to be a healthy balance between those who pay their loans on time and those who default. What is happening is that defaults are higher than average. The delicately, carefully balanced pyramid of debt is starting to wobble significantly. This wobbling of the debt pyramid is causing panic among dealership management people.
@matthewsmith2362
@matthewsmith2362 Жыл бұрын
Oh your talking auto sector of the economy, for a second I thought you were talking banking, then I thought oh real estate for sure, but u we’re on auto market. Wow they all three share so much in common. It’s gonna be a heck of a ride folks. Get outa debt and hang on!
@flipminerchino370
@flipminerchino370 Жыл бұрын
I’m a PDR guy in La area and this one Kia dealer that I do are marking up what I charge per car $75 per car by 100% so now it’s $150 to make up for slow sales now I’m getting less cars cause if I do the cars there to deep in it now lol
@everydaymechanic4657
@everydaymechanic4657 Жыл бұрын
I'm glad I paid all my cars off during the pandemics and took no new loans now I have 6 cars paid. Don't need to deal with these inflated prices
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
$$$$
@xUltimatexInstinctx
@xUltimatexInstinctx Жыл бұрын
TY for telling it how it is, we are already in a recession!
@wx401
@wx401 Жыл бұрын
Waited whole year for a affordable new Odyssey, finally I decided to purchase used 2020 pacifica. I want to wait longer but I am having one more baby soon
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Thanks for sharing
@oleradiodudea.m.4735
@oleradiodudea.m.4735 Жыл бұрын
Past experiences may be more of a liability than an asset in the new dealerships that will come out of this storm. The auto market is in uncharted waters. Old rules don't apply. Smart new thinkers will be successful. Those trying to run plays from the same old playbooks will not be agile and flexible enough to make it.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
True!!!
@MatteoTodd
@MatteoTodd Жыл бұрын
You’re a cool dude and tells it how it is. Much respect
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Thanks I appreciate it
@lancepz5231
@lancepz5231 Жыл бұрын
I love the youtube info. I offered 27% less ( 44k cash plus tax ) than original MSRP which was just under 60k for a 2 1/2 year old car that’s been sitting on the dealers lot for 5 month and they said no. ( asking $46,500 What is really going on with the market if they’re not willing to sell? Or move on price? Is the AMG. Really control the depreciation of cars ?
@rayjon237
@rayjon237 Жыл бұрын
Just wait, dealers are in denial on prices,. Consumer is tapped and only getting worse... Local dealer network has a land cruiser I want but they can't sell it,. They are floating it dealer to dealer every 90days (flooring $) it's loosing value every month sooner or later they will cut their loss and sell it...be patient lots of high dollar repo's are floating in pushing down prices..
@erinwilson8712
@erinwilson8712 Жыл бұрын
Lucky, I appreciate the information that you provide. I never miss a posting. Thank you!
@cjgray9352
@cjgray9352 Жыл бұрын
I waiting for a 2022 jeep Grand Cherokee overland with hemi v8 new body update it’s the last year of the hemi I currently have a 2016 Grand Cherokee overland with hemi I’m waiting for the price to go down before doing it but I’m debating if it’s even worth it at this point there are hardly any of them across the country
@Bone89
@Bone89 Жыл бұрын
I have been monitoring these channels a few months and see all the comments about greedy stealerships. I get such backlash when I point out the consumers are dictating price. Any businessman is going to maximize profits. Whether it’s rent, lawnmowers, houses, cars - the market sets the price. It’s good to have someone else at least say it. Even if it is common sense. Good episode
@henryberrocal8643
@henryberrocal8643 Жыл бұрын
Yeah I was planning to buy a car but now im will just wait. I wait 2 years I can wait one more year or 6 months.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Smart move
@fredwilliams8898
@fredwilliams8898 Жыл бұрын
Can we get an update video on the quantity of inventory waiting for auction? What percentage of the inventory that the lenders were/are sitting on has cleared?
@HONDATECH93
@HONDATECH93 7 ай бұрын
My wife couldn't make her car payments after she lost her job and told the finance company she was going to turn the car in. They did not want the car, they wanted her money. I told them if they can put the Contract under my name I'll go ahead and continue the payments they said no we can't do that. I said I can afford the car payments but if you can't change the name undermine I'm not giving you a dime if I don't own it..
@kyolml
@kyolml Жыл бұрын
I was at Carmax Dublin/Pleasanton and it was busy and I saw people actually buying cars with bowtie on the hood. I was surprised, I guess the little tax time bump is not going to be a lie yet. Also, used car price is way higher compared to couple months ago, so actually selling used car the margin went down, and selling new cars is where franchise dealer make their money even with lower sales volume, there are still plenty dumb dumb paying $10k mark up on a freaky Kia Telluride to offset the lower volume ($10k is a lot of cars margin pre-covid)
@brento2890
@brento2890 Жыл бұрын
Thank you for the channel. I drive a Tesla and I’m never going back to an ICE engine ever !!! ⚡️⚡️⚡️
@roythousand13
@roythousand13 Жыл бұрын
Wait until that self-driving system malfunctions while you are going 75 mph on the freeway. You will wish you was driving a gasoline engine car.
@louishendricks-tv1sx
@louishendricks-tv1sx Жыл бұрын
Trust and Customer loyalty is a terrible thing to waste! The New Automotive industry needs a new direction.
@RobbieSalome
@RobbieSalome Жыл бұрын
EPIC, KNOWLEDGE LUCKY
@johngatsby1473
@johngatsby1473 Жыл бұрын
I'm curious. I'm wanting an ev6 GT but these clowns from kia and the dealership have it marked up so bad that it will run probably 70k otd.....FOR A KIA. They don't even qualify for the 7500.00 tax credit so basically a Tesla is less expensive. Would a dealer ever sell at a loss once the floorplan period is about to or has expired? They
@devnull182
@devnull182 Жыл бұрын
I’ve been waiting for almost 2 years now. Have 15k cash ready for a down payment. 2022 Genesis G70 3.3 Sport Prestige. You could buy a 2020 same thingfor 43K OTD(23% off MSRP) pre-Covid. I’ll continue waiting as long as my 23 year old ram doesn’t blow up. These cars are so rare though. Closest one(color I don’t like) is like 600 miles away
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Thanks for sharing
@lancelotlink3907
@lancelotlink3907 Жыл бұрын
Getting rid of the middleman and sell direct to customers will bring down the price a lot.
@empirefoundation6328
@empirefoundation6328 Жыл бұрын
The majority of people who bought a vehicle since 2021 are upside down in their loan. Never in history has a vehicle appreciate in value. I told folks that since then, it's an equation for disaster. Repoes will keep skyrocketing because folks can't trade in these used cars for a new one.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Facts!!!!! $$$
@thecreationstationstudiose7907
@thecreationstationstudiose7907 Жыл бұрын
Glad this guy didnt come back with that bogus rental/lease nonsense he mentioned before.... Salute.
@deana6072
@deana6072 Жыл бұрын
my guy Bendaga is saying the inventory of used cars is pretty scarce for this tax season coming up usually lots are full of cars but now it's really shy and deserted... I really hope you are right about this car market crash because it sounds all the good cars are gone.
@MrJBZY70
@MrJBZY70 Жыл бұрын
Repos are about to spike in May. They extending payments because of taxes
@BearPapa49
@BearPapa49 Жыл бұрын
Lucky Lopez . I respect your points of view . I hope your right . I think we are seeing a new norm . I hope I’m wrong . I see this going on for 5 years at least and prices going up and staying up . I won’t buy until I see a reduction. Hopefully
@trafficguy8872
@trafficguy8872 Жыл бұрын
You call it a sub prime market freeze…I call it a doom loop. Car value goes down. Interest rates go up. Dealers can’t refi their inventory…have to get more per sale…further eroding customer ability to buy…rinse and repeat.
@bobsides59
@bobsides59 Жыл бұрын
Hey Lucky my king time friend. You mentioned last video or two you were looking to buy trucks. I have seen many places I pass in TX and OK. We should talk l.
@Robin-b8k6h
@Robin-b8k6h 8 ай бұрын
I love your advice and thank you
@manuelserrato7517
@manuelserrato7517 Жыл бұрын
I'm really interested on a 2013 Z06 Corvette but they are way over priced!😮😮
@PremierAutoMan86
@PremierAutoMan86 Жыл бұрын
Is that a real time subscriber count in the background 🤔. Pretty cool! And who the eff paid 80 grand for a RAV4???
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Yeah shows sub amount and makes a should everyone time I get a subscriber
@Go_XRP
@Go_XRP Жыл бұрын
It is straight piped with an intake and 26” wheels. The dealer said it was hot car and wouldn’t last, so I pulled the trigger.
@kenneth3558
@kenneth3558 Жыл бұрын
The auto prices and lending issues will lead to very high repair cost. Places are already raising repair cost to unreasonable highs, And people are paying it.
@slavikarlov
@slavikarlov Жыл бұрын
I offered a $26k check to a small local dealer for a 2016 Toyota tundra crew, they almost laughed at me. It's been since October 2022, they still have it sitting there.
@adrianpragnell8854
@adrianpragnell8854 Жыл бұрын
Lucky Lopez, Question oh and thx for the insight just watched most of you videos. Just bought a 4 yr old truck a year ago and need one that can tow more than the one I currently have, I got a great interest rate and with trading it in only a year later I expect to pay much more with the new interest rates and of course loosing on trade in value. Should I wait to see if like you say prices are on the decline to possible recoup any loss and I know it won’t be much but what time frame should I wait to start looking again
@raymondreiff8170
@raymondreiff8170 Жыл бұрын
I here You are going to be on CarEdge, With a other Car private Dealership's like Flying Wheels 👍🇺🇸 .
@jimlynch9390
@jimlynch9390 Жыл бұрын
Between my wife and I we have 5 cars. All bought new. I haven't sold/traded a car since 1997. Insurance is killing me, but other than that I'm happy. The years are 1997, 2005, 2006, 2011 and 2014. The 2005 is actually from the estate of my wife's mother. It has a whopping 20k miles on it. The 1997 has 130K the 2006 has just over 100K. The rest are below 100K. I was thinking of getting something new, but not any time soon. I don't need to/ won'f be getting a loan.
@YourUncle8501
@YourUncle8501 Жыл бұрын
You may want to consider offloading some while the prices are still high. The value of those will likely drop for over the next year. What happens if you lose your job, pension, medical crisis and cant cover insurance or payments. Hopefully its no problem and you are insulated from that worry of insolvency
@jordandarnell-merrell1830
@jordandarnell-merrell1830 Жыл бұрын
I live in Taylor, Michigan (Metro Detroit) and currently looking for a Jeep Grand Cherokee Limited X. I went to Snethkamp Chrysler back in January since they had one i saw online with no price attached so when i went they were asking for 52k (it was a 2020/21) im looking for a 2018/19 model year. But as its now March ive seen the price drop to 43k and im still waiting to see if it drops further. (Also a user/member of Caredge so i look there often)
@whatsamattayu3257
@whatsamattayu3257 Жыл бұрын
Great advice from W. C. Fields: "Don't be a moon calf, don't be a jabbernowl, don't be a fuddy duddy. "You're not one of those are you?"
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
I hope not lol
@iceman9678
@iceman9678 Жыл бұрын
People were buying because they saw their neighbors buying. Too many people felt compelled to keep up with the Jones. Car prices are still out of control. There are plenty of used vehicles for sale that cost more than their new counterparts.
@john.johnb_online1438
@john.johnb_online1438 Жыл бұрын
I love your vernacular
@juancfive
@juancfive Жыл бұрын
Great Info!!! Keep it coming
@billiondollardan
@billiondollardan Жыл бұрын
I usually buy a new car every year or 18 months but I'm planning on holding on to mine for a while now. I'm sick of what these dealers have been doing with pricing. I am content to drive my truck for a while longer just to spite the people who have been scamming us tbh. I don't know if I'll ever even buy another Ford again
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
It’s been a crazy 2 yrs.
@OneOut1
@OneOut1 Жыл бұрын
If and when you do I would love to buy your truck as long as you don't l8ve up north.
@chuckles2040
@chuckles2040 Жыл бұрын
I am the same way, I buy a new ford every 2 years. Now, my truck is 100% paid for, I usually get 0 APR and pay it off in 2 years. not problem. However I quit driving. My truck has 4300 miles on, and it's 2019. This economy is turning to crap, do I want a bill or a car payment? NO.
@iraqtv11
@iraqtv11 Жыл бұрын
We buy cars more expensive at auto autctions and no one is In this business to lose money
@josephkelleher8820
@josephkelleher8820 Жыл бұрын
I buy new and try to keep my cars at least 15 years. You get your money's worth that way.
@travwayfar
@travwayfar Жыл бұрын
100 is a steal I'm buying the course forsure
@danilsemenov450
@danilsemenov450 Жыл бұрын
Once student loan pause gets lifted later this year it will make monthly payments a lot less affordable to consumers and kill the demand.
@PHDmastermind
@PHDmastermind Жыл бұрын
How do I find repo cars, I have clients that export cars from all around the world from America?
@xmsleepR
@xmsleepR Жыл бұрын
I want a 10 speed F150 ecoboost and they do not look reasonably priced down in tampa, FL.
@matthewsmith2362
@matthewsmith2362 Жыл бұрын
I live in Dunedin Nothing is priced reasonably in this county and yours too
@davidbercher9927
@davidbercher9927 Жыл бұрын
Lucky, I live on the east coast. Should I consider looking on the Internet at dealers in the Las Vegas area or even California in order to try and get a better deal?
@stevespeier
@stevespeier Жыл бұрын
I let my pre-ordered 23 F-150 go when I realized the average cost with 82000 compared to 41000 in 2020; waiting, and I am not interested in any of the electric BS vehicles; I had a hybrid Jeep; they are complex overpriced, ticking time bombs that are horrible for the environment IMHO
@inferno3080
@inferno3080 Жыл бұрын
😂😂 sorry about that hybrid jeep crap
@RetiredSignDude
@RetiredSignDude Жыл бұрын
The banks keeping their portfolios "performing" - that is, not in default by making a new "deal" with the delinquent borrower and keeping their loan "performing." This is the way it works. Always has.
@Kevin-mk6jo
@Kevin-mk6jo Жыл бұрын
Imagine a company that caters to subprime borrowers thinking, we will do great in business, hillarious.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
$$$
@Kevin-mk6jo
@Kevin-mk6jo Жыл бұрын
Yep. Higher interest and price for a car, on people that couldn't afford it or weren't approved by a regular bank. Genius idea. But I do have to thank dumb people, their decisions make my cost, cheaper. House market next!!!
@All-Miles-Matter
@All-Miles-Matter Жыл бұрын
Dude...they know they won't pay for it... and they get to sell it AGAIN! and AGAIN!
@bdsouza1977
@bdsouza1977 Жыл бұрын
Word on the street is that the car market will NEVER fall. Ever. That prices are lower today than they will be for 10 more years.
@SmartPracticeSuccess
@SmartPracticeSuccess Жыл бұрын
I think prices will come down, but with inflation being what it is, I don’t see 2019 prices ever coming back. We definitely have a new “normal.” Where prices fall to will be the new benchmark.
@andriivanovych6651
@andriivanovych6651 Жыл бұрын
How Lopez !! I have a Infiniti QX 60 2019 with 37000 miles. I am looking for new BMW X7. Should I buy it now or you recommend me just wait . Thank you so much. Have a great day.
@THEFIRE360
@THEFIRE360 Жыл бұрын
wish there was a way to check what interest rate I'll get for a car loan without a hard inquiry
@OneOut1
@OneOut1 Жыл бұрын
If all you want is to know is your score then why worry about one hard inquiry. It makes no sense.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Capital one auto loans
@b4804514
@b4804514 Жыл бұрын
Lucky Where is the smiling face? I know this is serious stuff. Their are so many uneducated buyers and misinformation. Thanks for taking the time to try and educate us about the system.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
Thanks for watching and commenting 😁
@preocupied1690
@preocupied1690 Жыл бұрын
Do you think we will we see factory to dealer incentives soon...
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
I know it’s already happened on some dodge trucks 30 giving out incentives and some other cars but nothing on specialty stuff. Just depends on what state you’re in.
@TonyDrecaps
@TonyDrecaps Жыл бұрын
Good honest video. Thank you for the update!
@gavinfoster2303
@gavinfoster2303 Жыл бұрын
Do you know someone that knows about the car industry in Canada also I love watching your vids such a smart guy how did you get educated in this car knowledge
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
The Canadian market is even crazier than the US market. A lot of the Canadian wholesalers that I know we’re literally buying cars from Canada and selling them here in the US making it even harder for Canadian people to buy cars.
@ronj9124
@ronj9124 Жыл бұрын
Lucky, that was a great video, and I learned a lot even though I am not in the car business myself. I wish you the best of luck in establishing your dealership. The question I have is: In the long term, do you see prices coming back down to 2019 levels (or at least adjusted for inflation) if manufacturers are (saying they are) not going to produce new cars in the same volume as before? Personally, we have no vehicle newer than a 2011, but with pandemic and telework we can hold out a few more years if nothing goes really wrong. However, it would be nice in a few years if this car inflation went away.
@danhhuynh011
@danhhuynh011 Жыл бұрын
Thank you!
@GG12649
@GG12649 Жыл бұрын
Rising interest rates to reduce inflation is Back firing! Time for our Government to change things
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
$$$$$
@vincentortega4284
@vincentortega4284 Жыл бұрын
Saurabh, interest rates need to go higher to hopefully tame this inflation.
@SkylineFTW97
@SkylineFTW97 Жыл бұрын
The fact that they raised rates isn't the problem, they should've done this 15 years ago. The problem is they did it too fast.
@B1970T
@B1970T Жыл бұрын
PREACH ON, Oh car industry God! I’m rapt in the front pew.
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
😁🙌
@Observing9303
@Observing9303 Жыл бұрын
When prices of everything, especially cars are constantly going up, people have to cut back spending somewhere. Instead of upgrading their car, appliances, etc, they will just keep maintaining what they have. This is why the service industry is usually recession proof. The way the market is going is not sustainable and I think it will collapse at some point. When 50-75% of your customers are middle class, and also the class that gets hit the most by recessions, your business is going to feel the pain at some point.
@CaveManOogaBooga
@CaveManOogaBooga Жыл бұрын
Hello my friend very good channel I am ask you though I am look DuPont registry and eBay I don’t see price fall like for Porsche gt3 cayman gt4 dealer offer actually higher price? Where is collapse? When one pick up cheap like you say last videos?
@LuckyLopez777
@LuckyLopez777 Жыл бұрын
I never said it was gonna be a Collabs. It’s gonna be a price correction all prices are down 40% to 53% since last year we still got another 48% to go to we’re back to 2019 numbers.
@jimlynch9390
@jimlynch9390 Жыл бұрын
@@LuckyLopez777 I'm going to guess that people that can afford that class of car are not the people that will say "I can't afford it." and also are more likely to pay cash so interest rates aren't going to bother them as much.
@CaveManOogaBooga
@CaveManOogaBooga Жыл бұрын
@@LuckyLopez777 ok when good get gt3 ?
@gbock4314
@gbock4314 Жыл бұрын
HI LUCKY, WHAT DO YOU THINK ABOUT SPECIALTY CARS TO SELL? 2017 CADILLAC ATS-V 5-SPEED MANUAL WITH 80K MILES?
@shanew3293
@shanew3293 Жыл бұрын
Greed is a major factor and people are tired of these practices and prices... Just "Dont" buy folks
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