Overpriced and Junk Used Vehicles: BUYER BEWARE!
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- Опубликовано: 13 янв 2024
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Join me in this eye-opening journey as a real-life car dealer in the USA! Amidst widespread talks of a market crash, my experience on the ground tells a different story. Today, at the car auction, I discovered some fascinating insights about the kinds of cars that everyday people are buying and selling. Stay tuned to find out what's really happening in the car market - it might just surprise you
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I am the owner of Mike's Car Store In Georgetown, In. We sell used cars near Louisville Ky and ship nationwide. we look forward to helping you. mikescarstore.com
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I Don't buy keys from the dealer and neither should you. I use Tom's Keys and save up to 90%. Use this link to get the best savings! tomskey.com/?ref=ChevyDude
I got a key from Tom's keys because you were talking about them a few years back how good they were and it's working great for my older dodge saved me 300 bucks thank you 😊
Dealers are slick though with a sign: we only cut keys bought here.
Hey I wonder if anyone know on how I can order a new flooring for my car.
Or buy the Autel AP200 and make them yourself, the scanner costs $60. Thanks for giving us the viewer a look into the other side of car dealerships.
Love your videos ❤
The civic had the complete Pep Boys catalog thrown at it.
I’ve seen an exact car like this where I live same stripes and stuff also live in Indiana.
Some teenage ricer would buy it, except they couldn't afford it. Somebody took an expensive car and made it virtually worthless.
My mind is blown every time I see those garbage ricers and the clowns that drive them. The noise, the look, you’ll just need matching bangs to complement the spoiler.
@@emmasalgado7877 I agree. But it's mostly teenagers that drive cars like that, and I don't understand a lot of things teenagers do these days. I didn't understand a lot of things teenagers did back when I was one, which was a long time ago.
Was waiting for the NOS sticker which adds additional HP.
Many of those vehicles were junk when they rolled off the assembly lines; now they're just older.
Absolutely, pis-poor build quality compared to 20 years ago,I would never pay the kind of money there asking asking for what they sell
Keep these walk arounds coming.. it’s nice to get off the lot with some different content
It wouldn't be so bad if the junk cars were selling for junk prices but that ain't going to happen anytime soon.
Todays junk cars are no longer cheap and easy to repair like yesterdays junk cars. Most of them need to go straight to the crusher. Too complicated, way too much trash technology. Avoid anything with a touch screen and/or a CANbus electrical system. One seemingly minor issue totals the whole car. They are basically computers on wheels. You don't see anybody repairing older computers. They get scrapped.
@@geraldscott4302 This times 100! All mine are '90s and older!
@@geraldscott4302just because you may not understand how to work on newer cars definitely does not mean they need to go straight to the scrap yard. It just means you shouldn’t buy them.
@@toolman18ky Well, 'Car Wizard' DOES understand how to work on newer cars, and he pretty-much agrees with 'geraldscott' and myself!
The More tech more failure points
In much of society; Vanity is more important than true respect. All puffed and blown up ego's 🙄😒
I had a friend who worked at an Acura dealer and he said they wouldn't take any modified Integra's or other Acura on trade, even if they sold new. They didn't want the hassle of selling them. Used car market is tough. Also tough for finance companies out there now. Tough to make a profit.
Part of the reason is people think 120k miles is low mileage. The whole used car market needs to do a reevaluation on their pricing. If it's not a Toyota or Honda, 120k miles is over half the cars life.
That is not true there is a price for everything🤦♂️
A modded vehicle will appeal to someone who has no money......
@@donniev8181 Hondas and Toyotas aren't worth the premium they are sold for. If you buy a car new and take care of it, it'll last.
I don't feel bad for any of these dealers and finance companies. They created the mess they are in now. They ran it all into the ground in the name of higher profits. Time for a market correction to get things back on track with people actually make. Prices are far too high and blaming it on Covid no longer works.
Those Ram trucks will sell fine if they bring prices back down to reality...
I recently traded for a 2024 Ram 1500. Dealer discounts and incentives and gave me high kbb on my trade-in.
@@glenshepard6960i just got a 17000$ diacount on a ram 1500 but i still didnt buy was 67k after tax
Seriously they need to be pre pandemic prices. Jeeps and rams went up way to high on MSRP
@daprinceomar I agree. They have discounted the prices with incentives and dealer discounts, which the manufacturer was doing pre pandemic. Unfortunately, MSRP will keep going up. All manufacturers have reached a saturation point where production will slow down, keeping stockholders happy with a return.
Dealerships are waiting for the bailout.
This is exactly why my 2000 Corvette will stay just the was it was when it rolled off the assembly line. It's a one owner, well maintained and garage kept clean example the I will not alter. I may put LED headlights bulbs in to address the well known poor lighting of the C5 but that's about it. That honda isn't worth more that 500 bucks...........for parts.
Save your money, all new cars expensive and garbage.
Another great video I enjoyed this alot and enjoyed the tour of the auction and I would love to see more videos like this and I can't believe how many vehicles they have there that didn't sell its crazy at how the used car market is shoot even the new car market is pretty rough too. Anyway thanks for sharing keep up the great work much love to ya have a good one take care God bless and I will see ya on the next one
And manufacturers want to cut back on production 🙄 making it more difficult for used car buyers to get a good car.
Yes. Production cuts first, then price cuts. It makes sense. Take Ford for example. They are currently selling 10,000 F series trucks per week. If they discounted the price, they would sell more units.. say 12K a week so a 20% increase in total sales... the problem is they were going to sell 10,000 units anyway if they didn't cut the price.. so in order to sell the additional 2K units they have to drop the price on all 12,000 units sold. They are basically leaving thousands of dollars on 10,000 tables to sell 2K more trucks and they aren't going to do that. Ford's current sales volume is still plenty high enough for them to justify current pricing.
3:44 that door would be swapped out easily by most body shops... If they did anything it would be paint fading to help it match other panels, but you might not even need to do that. It's a white door so you're going to find a matching one easily.
really. I don't know what he was bummin' on it about
A few years ago, I bought a F150 at the auction, it had a CR of 4.5, we were not able to get it back to the lot before the next auction, so we decided to run it the next week, maybe we make money maybe not. The truck never left the auction remind you, the new CR on it was like 3.8 . I was not happy, How do you go from a 4.5 to a 3.8 in one week, and nothing changed on the vehicle? You cannot go by the CR, you need to look them over in person, also I found out certain dealers get favoritism on higher condition reports, it's all a scam!! You have to know how to buy them.
Interesting.
Enjoyed the tour of the auction vehicles.
Man I've never learned so much about used car businesses until I started watching you on video you know your stuff
Thanks for the video!
Alot of Chrysler products out there
Awesome show my friend.
I used to be against "wasting" money on a new car, but after my first new car I really think there is a pretty good case to be made for buying new then driving the wheels off it
I feel the same way. If youre planning to put 200-300k on it, best to know how the first 40-50k went and there's no better way than to have bought it new and put those miles on yourself!
Have to be concerned about a repo. Who knows if the vehicle was abused before it was reclaimed. Somebody with nothing to lose may not care.
That's where the car's service history kicks in along with your visual observations and listening to the engine. When I got my last used car I did so because it had brand new performance tires, custom rims, new shocks & motor mounts. The gas pedal also showed no signs of wear and there was no carbon layered on my finger after swiping the tailpipe.
You know why new dealers dump trade-ins at auctions, no need to discuss why by me.
I would also be afraid with modified or repo cars in that the previous owner likely treated it badly, 'drove it like they stole it', never changed the motor oil or did other maintenance. There are also some vehicles with known issues with engines, transmissions and other major components that cannot be fixed as a poor design or too expensive to do so right, need special tools and skills. Carfax and other resources often don't get accurate information on their condition, like as you note with the auction report. You have to do the due diligence yourself to verify.
3.5 in post-covid speak is 2.5 but we're hoping you don't notice the major issue that caused us to dump this to auction.
Looks like the inventory at Peachstate Auto Auction in Loganville, Georgia. "The Night Auction".
If you ever go to a public auto auction and it takes place at night...there is a reason why it is dark in the lot while you sit in the car, check it out, cannot drive it either...until after you buy your brand new "Tink Tink 2000 GL". Sweet cars there. Whole lot and lanes smell like rotten eggs, gasoline, and transmission fluid. Lot attendants moving around with battery jumper boxes just a getting those horses running and into the auction lanes for the public's unforgettable economical quick car purchase experience.
Yeah I bought some cars there, and sold some too. Made money on every one of those "Tink Tink 2000 GL's".
But they might be called "Atlanta East Auto Auction now". But I'll never forget those yummy hotdogs. "Green Light (under 100k miles), Title Here (car title in possession of auction house), Let's Go (start your bidding)"! YUP...YUP...YUP!!!
I was a mechanic and they had a customer that was a used car dealer.
Let me tell u i wouldn't buy anything there.
They would bring cars with lots of problems and say just make it driveable without changing any parts it might need
Mike I drove for Ford dealer in Owensboro after retiring as a mechanic for 50 years. He quit buying from Indy because two vehicles I refused to drive off lot. He gets from Evansville and Bowling Green only now. Im out a job because they deliver cheaply too. Avoids Nashville too.
All I see on lots are high mileage units in New York!
If you use a steamer, you can get that rear window tint off without damaging the defroster
I’ve always advocated having several “five diamond cars” for sale. Relatively new cars in good shape. But you do you and I understand. Yet the Bronco I had would have sold fast as it did nearme. Picked up by dealer 100 miles away. Upgrade.
Chevy Dude, I run across Ridglines like that often in really good shape. Also other vehicles as well, do you take emails about vehicles people sell ? Im in Idaho, but I will show in great detail the condition. we would just have to figure out shipping.
I like this video. Yeah, there have been some used vehicles on Autotrader that I've just been scared to death to buy. The latest is one at a used car lot with a rebuilt title and the Carfax record showing that it was totaled out be an insurance company just roughly 6 months before it was on their lot looking like nothing happened to it. It's said to have passed state patrol inspection before being put up for sale and therefore the price of $6900 is firm and will not include sales tax and licensing fees for a negotiation. That car has been advertised for about 2 months now. I'm guessing that people over where I live see that rebuilt title and why it has it and are running from it. Abd this is a 2005 Lincon Town Car Ultimate which I've considered buying just to have an extra durable car to drive late at night on a weekend and not necessarily be a favorite car of mine (and seeing as I'm more of a Chevy person than a Ford person).
Great video, Mike! Very informative. This explains to me why a local dealer has a super clean '03 4Runner listed at about 4 to 5000 over even clean dealer resale book value and apparently isn't budging, which seems crazy. They've had it for 6 months! I'd sure like to have it at a reasonable price, but it's not going to happen because I'm too stubborn to pay a ridiculous price for any vehicle!
I bought a 04 toyota it has 80 k miles on it clean ,on the inside body in good condition, and it needs some frame repair ,but even doing the painting and frame repair and rustproofing it's probably 10/15% of the cost of a new one, and it drives great ,much heavier and more of a solid ride .new ones just don't have the build quality
A dealer buys a used car at auction or takes one in on trade. They claim that they have a fixed cost of $1000 to $2500 for "reconditioning". They are unable to sell the car at the price they want so they send it to auction. The next dealership to buy it adds their $1000 to $2500 in "reconditioning". They base their sell price on the price their paid, the "reconditioning", plus profit, etc. If it doesn't sell, it goes to auction where another dealership buys it and then does their $1000 to $2500 in "reconditioning".
Are these auction cars perfectly polished diamonds because they they have been reconditioned 2-3-4 times? Or, more likely, is the fixed reconditioning cost just an additional dealer markup fee used to inflate the price?
"Reconditioning" or "certified" means nothing but adding fake costs to the bottom line in order to try and increase dealer profit. Scams... and I used to be in the car business.
Honda Ridgeline was nice .We had one that we sold for $14,000 back to Honda dealer. the tires didn't cost $1,000.00 but hey i like that you try to find good junk.
Wait till the timing belt breaks. It destroys the engine.
I guess FCA vehicles don't sell well in your area. I have a 2023 RAM Rebel 2500, and I am very pleased with it. Also have a 21 Jeep Grand Cherokee SRT and love it, have people asking me if I'd want to sell it. Looking at a new Jeep Wrangler Rubicon as a run a round vehicle. I've never had any problems with them. But I am on the east coast, so we must do things differently here.
@@musoui If he's on the East coast, the vehicles probably rot away before the big issues start.
Too bad cars aren’t made to withstand a small bump in the front or rear. We had a 93 Bonneville that had shock/spring loaded bumpers. Also I miss cars with real chrome bumpers
I don’t know if u would call that ridgeline a truck Mike lol. It’s an odyssey with a small bed. All good though, I’m sure the Rams will sell fine but like most people are saying they need to get back to pre pandemic pricing
I wonder how often someone like the previous owner of that Honda sees the car they just had repo'd in a video like this and starts crying when they think of how much money they sunk into it just to lose it like that. Last year I bought a Azera limited for 5500 with only 68k miles cash and it only needed a battery and brakes. Super happy with it.
lol. I thought the same thing. It wasn’t titled locally.
great video
Tells us how your really feel about Stelantis vehicles.
pretty tired of it honestly... he's no longer a Chevy dealer, and needs to stop bashing stuff.
I was in the market for a used car in New England recently. I looked at many 2012/2013 cars and they were all with relatively good miles but they were all rotty rusty underneath. So gross. I finally found a true rust free Florida car (2013 Lex ES350 with 70K mikes) and snatched it up but it wasn’t cheap.
As an individual, I would love to buy from an auction. Even with I little body work or detailing needed. But I'm in Massachusetts. I don't know of any auction yards that aren't dealer only. But I hear what you saying. Spending a fair amount of money on a vehicle that needs work,doesn't make sense. And most dealers around here do put a premium on vehicles in good shape. Even the big national chains,like carmax are selling the high end vehicles.
Mike whats your personal and business opinion on a 2022 nissan armada platinum
That Honda is a very nice truck, but I wouldn’t be comfortable paying more than that 12-13k as an end user with those kind of miles… people are insane
i think it is 11 years old. too old.
If you Wana removr tint in one piece you gotta rehydrated the film by laying a layer of trash bag. Make sure to wet it down good 👍
Have you seen any issues with the 1.8 turbo motor im the civic si?
Should have bought the Red Dodge Journey thats behind the Civic😊
I saw an online civic. Got to the dealer they didnt want to show it to me. Finally showed it and it was a repo that was nasty inside. The photo online was a new car of the same model.
Ditto on Stelantis ☹️
Also you should get headlight restoration kit and do those yourself.
doesnt last. buy replacement.
@@berardoferrari I have replaced some in extreme cases . Quality lights are a 100-150 each . Plus front bumper removal is necessary sometimes. I don’t use cheap Chinese brands because half the time you cannot aim them once you install them. I’ve been in this car repair business since 1972. I haven’t made every mistake but I’ve made enough to know what works and what doesn’t.
If you get three years out of a restoration, you have done your customer fairly.
My 99 Honda I bought new only needed headlights restored once in 24 years. I had the luxury of parking it in the garage most of those years.
Keep the waxed , and that will prolong their life.
When you take the tint off the back window you will take off the defroster wires off too. Cheaper to replace the window
Dang you found the most RICE up Honda of any lot I;ve seen in a while.
How long would you say it takes you to look over a car before deciding if you will buy it or not?
Also" on the crease" aka body line dents can be fixed easy
Stellantis is JUNK.
How much should you pay for a couple paint scratches?
As you know, the right car always does the big money, dealers CR reports very hugely from the average seller to the big guys that bring 50 or 60 units every week to the sale as you know… Buyer beware on CRs that’s for sure, you might as well figure to build everyone you purchase, or pay a moon shot for one all done. Unfortunately, it’s the old saying it’s only worth what somebody Willing to pay. I’m not even in the business, but my friend has 40 +years in the industry and has certainly taught me a few things over the years of Moving cars from the auction to his shop. If you possibly can stick with late-model stuff, you’ll have much better luck.
C'mo, show the chevy junk too!
Trackhawk right there @7:08
Hi sir ! Where are you located ? Because I need to buy the car .
I’m I crazy to find it funny when someone says “only” 90K miles on a 5-6 years old car
The demand for used cars is from buyers that can’t afford the inflated cost of new vehicles carrying a 7 to 9 percent interest rate. It is all about the payment.
That Civic reminds my of the stuff we use to buy thru GMAC in the late 80s.... Cars all "personalized" with the individuals lack of taste 😂. Can even remember buying 1-ton dump trucks where the dump body was loaded with trash.... The more things change ....the more they stay the same.
3:07 can someone explain to me why cars like this cannot be sold? I mean it’s still a car at the end of the day so it has value. Is the real issue that it will nvr be sold for the price that it could sell at if there were no mods?
Defiiitely have been seeing a lot of the same used cars in Las Vegas sitting in lots for about 3-12 months. I even saw a 2014 Land Cruiser for $60k with 75k miles. Sat in the lot for about a year.
I got my door fixed and still holding up great after 7 years, so depends who does the job.
thanks
Best video ever
how much of the junk cars are re-po vehicles??
the problem is vAuto telling you what "range" you need to be at when theres dealers out there advertising cars way too low just to attract attention then raising the price back up by adding on bogus fees... were running into this constantly, vAuto is way off in their evaluation right now due to this, just FYI
Will you take 3k for the fusion
Don’t buy Mercedes GLC 300. I let mine go because the engine is junk twice the valves went out. Luckily, I had it on a lease not even 22,000 miles
Great video, interesting points of views. Could you make a video about what's so bad with Stellantis cars? Just by curiosity what's making them so unwanted atm.
Electrical problems, fuel delivery problems, engines using oil, transmission failure. Nothing but junk!
Why are you saying rams abd jeep are junk? Just curious. 2013 ram 1500 still gling strong with over 215,000, im consodering getting a newer one but would love to know why youre saying theyre junk so i can steer clear if that is indeed the case
First off as a car flipper I never buy cars with aftermarket mods I always buy cars original with no motifications. Second I never buy cars that require major body work. Interpret not last Always by cars that are high in demand & higher residual value like Toyota and Honda in California.
Will you take 5k for the civic ?
Did they not fuse that heavy red power wire at the battery? Good way to burn the car up.
I am so glad that when I needed another car in December, a 2004 Toyota Carolla with just sbout 100,000 miles on it for $2,700CDN. It needed nothing to earn a safety certificate. I would not pay twopence ha'penny for any of the things I saw in this video.
how in the world is that fusion a 3.5 CR someone wasn't paying much attention on grading that day
Hi mike or any dealer out there, what should I pay for a 2016 Honda Pilot with 135 miles?
This would be a good price. 😉 I can ship it to you. www.mikescarstore.com/inventory/Used-2016-Honda-Pilot/1126027
Also, ridgeline is not a truck
Correct! Unibody, no frame!
We had a 2015 Fusion SE and it had the 2.5l engine. Had a cracked cylinder head at 22k miles. Ford fixed under warranty and then at 55k miles I traded it in on our 2020 Toyota Camry SE. Sad thing is we did like the Fusion it was fun to drive and looked great, but they are not built to last IMO. I also have a 2003 GMC Sierra 1500 SLE Ext cab in mint condition body wise. Its been garaged its whole life so I decided to save up and put a new engine in it and keep driving it. Those old 1999-2005 GM trucks are dang near Bullet Proof imo. Once the Camry is paid off I am going to buy a new truck. I am waiting to see what Toyota's Maverick competitor supposedly in development is. I also heard Nissan is supposedly bringing back the Hardbody Truck with an entry level price in the low 20k range. I will be watching to see what they come up with. I still think Nissan makes good trucks it is just CVT transmissions I would pass on. @Chevydude I know its a tough market right now, but I really do wish you well as you grow your business man:P
If you still have the 2003 GMC Sierra 1500, KEEP IT. Any GM truck built before Active Fuel Management will last forever. Engines are cheap. So are transmissions. No touch screens and CANbus systems to fail. New trucks are 100% JUNK. I have a 1968 Ford F-250 that I have had for over 30 years. I pretty much built it from the ground up. It's rock solid. It's built out of what would be considered armor plated steel these days. Parts are cheap and plentiful, including engines and transmissions. Mine is a real truck. Two door, standard cab, bench seat, 2 wheel drive, 8 foot bed, 390/C6. I built a custom A/C system for it. It's a 3/4 ton with the Twin-I-Beam front suspension that is practically indestructible.
Yes still got it. I had a 2004 with a 5.3 I sold a couple years ago with 220k miles on it. Drove my old classic 85 Nissan a couple years and sold it and purchased the 2003 GMC from an elderly guy that garaged it, unfortunately he did not service it like he should have and the 4.8l has sludge in it. I cleaned out what I could it has 175k miles and driving it as is now, but it is in Mint condition and has a new transmission so I plan on buying a new engine this summer to replace. I may switch it to a 5.3l once I do some research to see what has to be done as far as Computer tuning. I know a 5.3 will bolt right in though basically same engine.@@geraldscott4302
@@JasPlunbrotha just letting you know both the 5.3 and 4.8 use the same block and computer so swapping won’t be that hard
I hope you are correct I have read there are differences and that you need to change the computer settings for a 5.3l or there will be issues. I am not saying you are incorrect, just I have seen many articles on it since this post. If that is the case then I will swap to the 5.3l. Thanks
They have swap kits out now with all the wiring so it would not be a hard job to swap. Might have to make motor mount adjustments, but they have these kits now that are really good.@@musoui
Be nice if we had all those cash for clunkers back
I tried to sell my 2019 Ford Fusion to you last year and I was turned away because it was too new so CarMax got it instead 😢
That Civic has seen redline a thousand times.
I love the title. Sorta like the dinged up 2008 Nissan versa with 143,000 miles and no A/C you are selling.
Hey now, it’s a former rental that’s been in an accident. That’s got to add value, right?
I feel bad for people that jumped on the dealership idea. Don't know how they're going to survive the next couple years.
Maybe doing buy here pay here but would definitely put trackers and immobilizers on the cars.
That Honda CRV, I never saw a rusty tire jack for such a newer vehicle. I have had older cars and the jacks looked like they were made just the other day. I'm sure that the damage to the car is old and water has been leaking into the trunk.
When I bought a used 2003 Saturn in 2020, the tire jack had NEVER been touched. Factory grease on the worm gear. Zero rust or scratches. Original date-coded spare untouched; rim was mint condition.
Surprised the Civic didn't catch fire with that wire hazzard!
Use a paint meter
Hard to tell with a white car but that fusion probably needs a door skin. Large dents like that will stretch the metal and make it thin and weak.
i buy only what is needed, wich is why i bought a 2023 Mistubishi Mirage for 15k CANADIAN NEW!!! and its worth every penny and it does what it needs to gets me from a to b!
That's a deal.
Preach Brothers... I give it up to the small car markets in this economy to stay irrelevant.
A good dent guy can fix the fusion
I bet the banks that loan on these overpriced cars are taking a BEATING!
I can't help but laugh when the Chevy guy is calling Stellaris and Honda vehicles junk.
Honda is not junk this one is just badly modded.
Exactly! I bet he bought that civic. A little repairs, removals, and bam highest resale value outta all that junk
Hondas actually are junk and always have been.
Makes no sense, the longer dealers hold on to these cars the lower the value gets?
You are actually wrong on that Fusion door. It isn’t that bad.
Most of the used stuff out there is junk, as you pointed out.
Unfortunately probably only going to get worse.
@@ChevyDude do you think it's because it was junk when it was new? I know that there are a lot of new cars also having big issues. For example, the Ford Expeditions seem like they are having lots of transmission problems. The 3.6 engine in the Equinox, Traverse, Buick Enclave and Cadillac versions are also junk. Thanks, Chevy Dude and Mrs. Dude.
@@danfischer518 you're absolutely right it was junk brand new off the lot.. most of the parts can't even hold themselves together until the warranty expires.
many junk cuz of illegalbags, 15M of them in 3 years
@ChevyDude you are correct it will get worse. Manufacturers cut to many corners. In doing so, we have what we have. They would rather send the unit out the door, recall, or do nothing about it later, hoping it will go away and knowing there is a problem. The entire system is that way in all manufacturing areas.
Sports cars from 20 years ago still demand a premium. However, most of them are in better shape than the repos from last year.
14 - 16 fusion hybrids have transmissions that don't last too long - be careful
I remember a time when auction vehicles were dirt cheap and junk cars were actually in good condition compared to junk cars today