CAR PRICES PLUMMET, So I BOUGHT 21 - This Is What I Paid
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- Опубликовано: 14 май 2024
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CAR PRICES PLUMMET, So I BOUGHT 21 - This Is What I Paid
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
And make sure you don't forget to LIKE, SHARE AND SUBSCRIBE FOR MORE!!
*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices 
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Watching Brandon is somewhat like taking a college class, so very informative. The powers that be in the industry must absolutely hate this guy.
Better than college. They don't even know what their gender is let alone figure out money 😂
@@rod2998 Gender hangup eh ?
@@SunofYorkno, he points out how stupid college graduates are these days
In reality, everything this man teaches should be a mandatory high school course. Freshman year. Maybe not the in-depth used-car dealership knowledge, but many of the general economic concepts he regularly discusses.
@@jorge1170xyz You can't teach what you suggest without doing political brainwashing. eg that instead of governments making grants like in the 1st world, they should have students working 3 jobs like in the USA. In the UK I went from being penniless in social housing, to receiving a grant 50% greater than what I had been earning. When I qualified, the taxpayer got all their grant money back in less than a year (in taxes). Anyone want to advocated "Enlighted Socialism" in the US ? Laugh out loud..
I just vinyl wrapped my 09 civic myself. Total cost about $500 for wrap and tools, the fading clear coat was the only issue and tbh it looks new again. I want a new car, but dont need it.
"Pin a rose on your nose" real proud
@@maddashforroadtripcash3477excellent comment, very thoughtful.
Wish I know how to vinyl wrapped😢
Cars in the 50-70s would only run about 90K miles or so before needing major motor work. But, you could literally rebuild an old Big Six alongside the road with hand tools.
Dad did. He hitchhike into town with the head to have it checked while getting the rest of the parts. (No kits back then, you had to account for every part you would need. Did you know that replacing babbit bearings can be done using the leather belt to your trousers? Try that on a Prius!)
Yes, vehicles have come a long ways. But now, it's like riding a train, if it breaks, you're not fixing it and traveling on. It's always too complicated, or needs special tools, or it'll be three days till the parts in. And if you're dying in the desert and save yourself by fixing your own car, you're voiding the warranty.
I'm just not impressed by the overall state of the car industry these days.
Maybe it's just me, but...
I am on the west coast, everything from boats to RVs trailers to cars and pickups are all dropping like a stone over the last 90 days... and i am talking about Craigslist and Facebook Market Place, and stuff is just not selling.
My sister is part owner of a lot, she had a small Ford, it hasn't sold in 18 months, and she admitted I was right telling her to take what she paid for and dump it...
Cash is King today. Hot money in my pocket. Buy cheep, sell cheep.
EA
Cheep cheep
'Cheep' is for chickens...You mean 'cheap'
@@zeroch1ll911 Is your lot full of Orphans and
"Yard Taters"? If so, you ain't watching this boy Brandon. Like a free college course, you better be listening if you want to survive.
Brandon my 2017 Honda accord hybrid has over 435,000 miles on all original no issues. Don’t count them out.
dealership actually called me 2 days ago trying to buy me car back from me after 2 years or get me to trade in. I hit them w/ some facts of the current car market crisis and told them it would be a massive financial mistake to even consider it. I asked them why would I get rid of my car in this market just to have to end up paying more afterwards for a similar car? They really do think were fools.
Those are boilerplate sales calls. They are trying to convince any buyer who bought from them to trade in and buy a new car. They are going to call everyone they have contact info for and say anything they can to convince their previous customers to buy a new car.
I once heard the Car Wizard say that "Only 25% of people take care of their cars." I'm assuming he's basing that statistic on his experience working on cars and running a shop for years. I know from my experience people used to not only drive better but take better care of their cars back in the 60s, 70s, 80s, etc. The fact that there are so many pitfalls at the auctions just tells you it's true, most people don't take care of their cars hence you have to be checking these cars with OBD scanners and a fine toothed comb because most of them have been neglected in some way. This helps push up the new car market because since you can't trust most used cars, at least with a new car you have a factory warranty and all that. Of course you have massive depreciation too. I wish we didn't have to roll the dice on used cars like we do. But makes sense, most people can't afford these car payments, they'll do anything not to have to pay for maintenance of any kind.
Cars back then were made to last past the warranty.
Cars are also infinitely more complex and unique now. Back in the 70s you could stock parts for basically every car out there in a reasonably sized warehouse. Impossible now
@@oimfc37 But my point is, people used to look after their cars a hell of a lot more back in the day. If your local bank approved you for a brand new '69 Chevy truck you'd look after that truck like it's the last truck ever made. Today people sign on the line, beat the crap out of the car, make 5 payments then they get repo'd and by the time you see the car at auction it's a disaster. Goes along with the different kind of people we have in this country, not the same we used to have.
Cars in the 1960s and 70s would be lucky to last 100 000 miles. Today you can get 200 000 miles for many.
The car fleet today is the oldest it ever was at 12 years
All of today's problems are self-inflicted do to a lack of morality. It's all me, me, me.
Prices are crazy. Plan and simple. Dealers have to book the loss if they sell. They don’t want to book the loss so they don’t sell.
In a truly free market, that strategy doesn't work. You will lose and lose until you finally sell or foreclose the asset in some way. The problem is there's not a free market anymore. Too many lenders still seem unconcerned, almost as if they know they'll be bailed out when things get too bad.
@@jorge1170xyz having a budget, sticking to it, and not giving in to their ways may not be satisfying until later years. I’ve realized I don’t need fancy stuff and stick to the basics. It’s better to have money than debt. My money works for me, not me for my money. I have friends that will never be able to retire because they couldn’t resist loans and are over extended
Content always worth listening to. Thank you Brandon
Thank you Brandon for producing these videos. I have learned a great deal from you on purchasing used cars. You are a great resource for anyone interested in buying a used car no matter what price it is being sold. Thank you for this service as well as buying and selling used cars to people that can afford to buy a used car for cash at $5K or less. Please keep producing these videos for us consumers buying used cars as our form of transportation with these crazy new car prices.
Been watching you for a while and never had a disagreement on what you have to say. Keep up the good work. I’m from Los Angeles and they are very few car lots that chase cash most of them chase credit..
Car prices are still high in DFW area.
Great information as usual. Thanks!
Your little Christmas Tree behind you is growing !
I love your transparency. I would gladly by from you and this is why you are successful. Sold my car during Covid like a fool when I took a job with a company car and only had parking for two cars. Quit 3 weeks later and have been a 1 car family ever since. It sucks. Would love to find a 2k range beater but can't find anything in the 2-3k range. One nice car is enough for me at this stage. No more keeping up with the Jones.
Be careful... there is a saying in the stock market, when prices drop. "Don't try catching a falling knife."
Thank you Brandon.
The 3.6 L in the Chevy traverse is garbage. Lots of videos with those engines making barely 100,000 miles or less
If the oil isn’t changed every 5000 miles it causes timing chain failures.
I have a 2008 Pontiac with that engine and I’ve changed the oil every 5000 miles and it has 150000 miles on it and no timing issues yet, and runs well
Brother I love you videos you have shown me so much for my next purchase
Some great prices! Older vehicles are easier to repair, and parts can be found at reasonable prices.
Waiting patiently for used cars to become more affordable.
Wish you were closer - would love to upgrade my Escape.
Have a 2005 Town and Country /3.8 engine. @170,000 miles no oil burn/no rust (southern car), 20+MPG anywhere. All the luxury OEM doo-dadds still work. Ignorable dash lights incl tire pressure sensors and fuel vapor recovery code (bad cap probably). Tows 3500lb with no problems. My favorite car ever probably.
I owned a 2005 pathfinder. There's a class action suit with the transmission. Check the Vin to see if is eligible. Hopefully it was already done. Tell tale sign. It will shutter and not go into 5th gear
Car prices have to drop. Otherwise, car dealers have to keep them for good.
It's great to hear the prices used are selling for. The strange thing is the old cars I drive just keep running. To be fair I ride an Ebike for in-city transportation, so my cars will get 2-3k a year on them . Great to hear that you are doing good on used cars.
If both my 20yr old cars weren't paid off, I'd definitely buy one of his cars!👍🏻 His cars are almost new to me😂
Small CDJR dealer went belly up in my town.
It’s awesome that people couldn’t buy those cars and now there’s a middleman jacking up the price
Interesting video. Consider showing a picture or short video of a 360 degree view of the vehicle as you are discussing it.
The franchise dealers have decided that they will simply file BK with the floor plan lenders repoing the cars.
November should be a great time to find new or used cars.
You know it's hard to find a good used car dealer I really wish I knew where your dealership was but I'm narrowing it down
Our local Ford dealership is near our shop so I drive by it everyday. They currently have several f150's with special sales tags in the window with 80 to 100k dollars posted on them. They are one the biggest dealership networks in the country and they have way more trucks than they could possibly sell in a good market in our small town. There are about 50 trucks on the lot and probably more in the back lot.
Spent most of my adult life living on cheap rides like u sell, finally get able for a new one n poof. Right back to needing cheap again and it doesnt exist anymore in NH
@Brandon. Do you have a website with all your cars for sale?
We got over 300K miles out of our '03 Saturn Vue. Don't sleep on a good Saturn.
It also asked to do it location Brandon if your car dealership was up here in Maryland especially around the sea you would be able to get twice what you’re selling your vehicles for
I loved my 1995 Saturn SL2. It was great!!
I actually liked the looks of the Saturn SC with the right wheels and trim package they can look good.
Mf’s gonna learn that ppl aren’t paying crazy ass prices anymore, the consumer sets the market. Dealers can say this car is worth 20,000 but the truth is it’s only worth what someone will pay for it!
Duh
And more than likely some fool will give them 20,000
Cars in Miami are expensive
Yes!!
What the state tax on cars over there? Are they charging ADM's? Are you talking used?
Rich people land. Expect inflated prices.
Oh I sold my 99 grand marquis to my local Ford dealer for 2500 bucks two days later they had it on the lot for 6900 ended up selling it for five a week later so again if they’re buying anything high mileage nobody’s looking for anything with over 100,000 miles unless it’s cheap My mercury only had 80,000 miles so that’s why it’s so fast.
Just like hia vodeos. Interesting. He should make a series on how to buy and sell.
It makes sense that you end up buying multiples of the same car if there are multiples at the same auction. If nobody outbid you on the first one, there probably isn't another bidder who values that model as much as you present at the auction.
I wish you were closer to me. I will be needing to buy a first vehicle for my 16 year old son soon. I haven't been able to find anything in my price range or any honest dealers around here.
Get him a 5k private sale civic.
Buy private party one owner or long time owner. Avoid flippers!
I recently bought am excellent condition Toyota prius 2011 with 160k miles with all new brakes and tires for $5000
@@MX-CO2011 160k miles and $5000? Holy scam. That Prius with those miles ain’t even worth 3500
@ou.8789 Cars in General are starting to come down. Bought it awhile back. But you couldn't find one here where I am in good condition with those miles anywhere near that price at the time. Maybe now for $5000, you still can't find a nice condition one for $3500
Show us one of your bbq places !
QUESTION.. can you not take a scanner in or something like Torque app on phone and OBD wireless scanner to plug in pull codes?? great info.. thanks..
PS: 2011 Hyundai Sonata worst car ever. thats when they changed the engine casting and it was a major F up.. friend of mine if former hyundai field engineer in S. CA and he said they saw a LOT of them replaced under warranty with the same crap engine.. 2010 and lower ONLY...
Even with the markup the prices are good. I wonder where his dealership is located.
Thanks
How do you get a dealers license? Id love to go to these auctions plus I already buy and sell a little, only about 5 cars a year though
I don’t think you should move with The Market if you got a good deal on the vehicle that’s your opportunity to make a bit more
My 04 LeSabre keeps going and going and going.
I guess all car sellers dont clear the codes when they drop off the vehicles at auction 😅😂 mechanical problems, engine, or transmission will not be set until driven unless its a electrical component.
from a numerical analysis point of view, the key is getting price data very quickly
why wouldn't you use the wholesale market to get the rapid estimate of the "real" retail price
What would you offer out of curiosity for a white 2017 Ford Fusion Base model ecoboost with a little over 90k miles. Car gets serviced every 6 mo tha or so. Right side mirror is busted, but car has new battery, brakes, and seasonal tires.
Look up in Kelly blue book for fair prices. Check the Carfax as well. Generally speaking that is one of the few Ford cars that is pretty good reliability. Avoid the dual dry clutch focus and fiesta like the plague. I think those two POS is why Ford quit making cars. But the Fusion had a no nonsense transmission. You probably have to go back to the old panther bodied sedans (police cars) that were also pretty reliable for their day. Ford = long history of crappy cars.
Is there any time of the year you don't talk about "tax time"?
Some of the Saturn’s had Honda Engines.
I not see anything go down yet ...
WTH! Yesterday we were on the brink of a total meltdown of the car dealers, CJDR notwithstanding.
Now, it's a New Dawn. 🤔
Today he’s saying car prices are plummeting and Ray and Zach posted saying car affordability hits record low 🧐
@@TheSterlingArcher16 Affordability is a function of income, asset price, and loan price (interest rate). So it's very possible to have prices going down while affordability metric goes the other way.
Ray and Zach are looking at new car prices ($50k), while this guy is talking about heavily-used cars ($5k).@@TheSterlingArcher16
I need a code reader that reads the ABS system. I have a wheel speed sensor that is bad but not sure which wheel it is
Most of your auto parts stores can read ABS codes. O'Reilly autos check mine.
@@polaridoo1 yeah. My store’s machine was broken. I’ll try a different one. Thanks
Is now a good time for people to flip cars for profit (entrepreneurs)?
Here in California dealers are still paying high prices :/
what part of CA are you in
It’s California 🤷🏻♂️
Can you jack the vehicle up and run threw the gears on the lot?
No
You really are the canary in the coal mine for us in Alaska! Our market mirrors the lower 48, it just takes a while for it to go to us.
Had a 99 Cherokee. Literally fell apart around 2005
Todays video in reference to your buy and sell prices of these vehicles was not ticking the box in overall gist of past comments.
Especially when as you sopke about the auction fees are additional to the sale ‘ purchase price.
So past comments is your average margin is 1200 per vehicle, if you would like to review your maths in your sell pricing on todays 21 vehicles I think you will agree your closer to a 900 - 1000 margin.
No he probably doesn't have time to waste with some nit picking commenter like yourself.
He talking gross margins not net.
im sad that i didnt know about this channels long time ago..
What I fail to see is why franchise dealers don’t start their own used car lots and sell these vehicles themselves, eliminating the auction and competition from used car dealers like yourself. Used cars usually sell as is so as long as your not selling junk the dealership’s reputation should be fine!
Is there any extra info on that pathfinder my grandparents are looking for one?
I'd avoid model years 2005-2010. They had problems with timing chain and a defect in Radiator that mixed trans/rad fluids which would destroy transmission. Unfortunately only leaves you two model years 2011/2012. Just sad it took Nissan so long to fix those issues. Otherwise a great body on frame SUV.
Have a 2011. Only issue was a motor mount under warranty though we weren't easy on it. Now need ac fixed . After 13 years well over 100,000 miles.
I’m going to ask you to predict the future. I want to purchase a Lexus LX 570 sometime in September. I want at least a 2016. Do “we” think the prices will be lower by then? I’m paying cash. That SUV is just expensive period. I’m prepared to pay for quality but I just wonder if I should wait.
A 2015 Lexus LX 570 with 188,000 in below average condition ran through a DFW area auction last week sold for $19,500.
@@gobbler1957 they’re all over for sale. I don’t mind paying for quality. I’ll probably end up spending at least $45k but cash only!
Prices are not dropping on the lots
Any Nissan is over priced, even at a dollar. Those Ford's have bad engine problems. I have a 2017 Edge, motor gone at only 70k miles.
I plan to buy a car when mine is paid off next month.shoukd I wait until december?
Sell it now and buy a reliable Toyota
Where is your car place to buy from you
I’ve completed business with carvana and it was so easy! No drama on trade in. Gave me double what the dealer was offering. On the buy side it was even easier. No last minute drama on the closing
My Brother in law sold a car to them about 4 yrs ago. He got a quote just for the heck of it thinking no way they would pay a fair price and they paid way more than expected. They gave him more than some were selling for online locally. His car was a 2 yr old VW passat
Buyer fee. Sounds like nitrogen to me
Where is your location. Looking for SUV ? 🚙 I am in N Chicago
Buy low. Sell high(er). Stay in business.
I want a new car but don't need it. I'm "middle aged LOL" and I probably will NEVER buy new again. Why? Because I don't believe trucks and cars will never be 15-20K new again. So used it is for me. And even NOW used is getting stupid and will continue to drive my beater until I'm FORCED to buy another beater. 🙂
Buy a few cars and let us know what you fixed before selling.
The prices he paid for are crazy cheap. Those dealers are definitely desperate to get rid of them.
Your do right about vehicles. I live in New Hampshire, and in Rhode Island during February take 2k off new cars. I spent about 8 hours trying to get the most for my car. Then buy new cars at the end of the month, because Dealership doesn't want to pay interest on it, and make therir quote.
🔥🔥🔥
I have a 2013 Ford F150X.L.T crew cab 2 wheel drive 5.0, with 36000 miles on it.What do you think it's worth
15.000 17.000
I managed dealerships for 54 years and a store that I'm at now.I can easily get twenty thousand dollars out of it
Here in a California , I just bought last week a 2015 Altima in very very nice condition, it was a repo in mid April, guy bought it at auction and sold on Craigslist I was the first guy that saw it and called he said. I got it for 4k 120k miles, and my 2014 altima was recently totaled with almost 330k miles. This is my 7th Altima since 1993, never ever ever had issues with nissan, I love those cars
Owned the 1997 Nissan Pathfinder and it's still running. But I heard some of the newer Nissan does have issues.
Veracruz: SUV with 3rd row. V6 FWD or AWD. Exterior nothing special, inside can be nice. Scored well on crash tests. A little small for the class it competed with. Not a head turner. The budget minded soccer mom?
The Acadia and Traverse are terrible vehicles, lots of problems, they are on every mechanics do Not buy list!
disagree. some of my happiest customers drive Acadias. Seniors
@@adalmallc1988 go watch some videos by the wizard of the top 5 vehicles not to buy
Damn... this guy knows every mechanic.
@@Mike-cc3bc Go buy one you'll love it 😀
@@Mike-cc3bc maybe I'm trying to save people a big pile of cash buy getting rid of it while ot still runs
Why would car sales go up during "tax time"? Don't people have less money as they just had to pay their taxes?
Of course, I understand that some people get "refunds" it's just never me.
Make your blog more interesting by actually showing what you buy and sell. I am not a dealer,
but I have bought from auto auctions for 30 years. Cars across the board are way too high.
Car prices rose 30% and the prices may drop 10% from the pandemic high?
Ram/Jeep increased prices over 60 percent since 2018. The new Tacoma is literally 10K more then the 2023 it replaced just a few months ago. Its why toyota fans are freaking out on the new MSRP's. Loaded TRD Pros used to be had for 51K. Now try 65-70K. Insanity.
Its all a scam, they experienced record profits during the pandemic, and they dont want to let those profits go. Greed is poison when its done large scale.
This is happening in every sector of society/economy.
@@HiPlains1 And those prices need to come down 80%.
@@Stuffy504_ Looking like inflation will move upward again in a few months. Feds reacted to slowly and did not go far enough with bank rates. We will be faced with stagflation. Which will cause slow growth, job losses And higher prices. In that environment dealers will have no choice but to lower prices or just let them rot. Things will get pretty ugly by August. Banks are in big trouble. Again.
The reason why Nissan Pathfinders are cheap is because anybody with half a brain knows that after the 2002 model year they all have lousy, imploding transmissions.
I thought he bought a 2021 for 1,300! 😂
i just started my used dealership in CA san diego
Good luck!!!! It's tough out there but getting better
@@CQALive Thank you ! My buddy also has a dealership his lot holds about 15 -20 cars i’ve been watching closely. Trying too stay in that 1500-3000 range mostly dealer trade ins. Currently only using an office space with 2 display spots also using my buddy’s lot. Your videos are great
🛑🛑 Brandon….I would be interested in what you consider “high mileage”?
I always thought 100k was high, but you welcome it.
Please Explain?😀👍
the problem with his commentary is that NC is a small segmented market. Let him try that 3000 s&&& in Arizona. good luck!
Where's the matching pics??? 😞
Back in the day you could get crap cars for under 2000 dollars
My roommate bought Honda civic for 600 bucks
Those days are over which is why I have 4000 dollars in e-bikes
Sounds like yoyo prices.