Car Market Update: Prices Fall to 2 Year Lows (More Downside Ahead)
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- Опубликовано: 25 июн 2024
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Holding onto my paid off car until it dies. It’s a Toyota thank God
Lexus here lol I just put 2k into it and it should run for 10 more years
Same here Corolla with 112,000 and Scion XB with 152,000, both run great
Honda Accord with 140K... Runs perfect
You’re all so lucky. I was young and dumb at 23 and got an Audi. It’s cost me thousands in repairs and still keeps breaking down. But it’s been paid off for 6 years. Just gonna try and hold out for another 6 months before getting rid of it. Then Lexus it is!
2004 Corolla with 115,000 miles running strong 🫡
Keep holding the lines!! Not buying.
That hurts the economy with everything else that is too unfortunately
@@user-dd1bb4tw4ryou mean, hurts corporations and the ultra wealthy.
2 year lows is still insanely high. We need low car prices compared to pre-covid price inflation.
Ask the UAW to give back 50% of their wages & benefits. I’m sure they will gladly do that for you.
@@IP0Monsturd prices rose way more before the workers gained the momentum that they did. The union is not the problem
@@chrisredd214 ok Slick. Why not pay the workers $1000 an hour? If wages don’t affect the vehicles price why not?
@@IP0Monsturdthe prices of the vehicles went up well over 40% over the past few years well Before the current new contract. Vehicle prices went up over 40% and during that time and UAW wages did not increase.
These people have not dropped anything, higher Apr is not lower prices. Stay away let them keep their already sitting 2022 models forever lol ~
Honda accord 2 doors, 2007, here with 204,000 miles on it. I am not giving up on my girl until she gets tired of me. The longest relationship I've ever had LOL
My dad's honda is about to hit 200,000 and it is still kicking
@@joelr1112 Oh absolutely, Honda's are great cars. They run to 300k-350k if you take good care of them
I had this baby time before . Wonderful car. I do miss it 😢
Thank God I bought my car before the pandemic. Low miles no payments. I'm riding until the wheels fall off
Gen Z and new generations don't need to own cars - there are rideshares/robtaxis from Uber, Lyft, Waymo, and Zoox.
@@SSGoatanksexcellent point!
Never thought about it!😮
Why not thank yourself?
The prices of cars are insane. When I seen the monthly payment on some of these vehicles. I was thanking god I don’t own one 🤷🏾♀️ something’s got to give. We are literally drowning in inflated prices, can’t afford food & regular things. We are working just to stay above the water but for how long ?
Vote OUT CLUELESS Joe and everything will get back to normal in the economy.
Not very if things keep continuing this way. Food sucks the most because we can’t just stop eating.
@@TheWolf92I’m fasting cause of the food issue. I went into family dollar to buy 2 things I spent $30 for 2 ITEMS this was recently
Don't vote for Biden
I clip coupons and do digital deals from all chain grocery stores- it helps! I don't buy prepackaged anything
0:11
They should be restocking the National Oil Reserve -not taking out. It is for emergencies, not to lower gas prices before the November election.🤦
I hope everyone fills up their tank and buys 2 weeks of groceries before they go vote!!😕
Biden buying votes again.
@@charliegirl42ify Yep, all the government supports are leaving about 5 minutes after the election. No reason to prop up everything then.
This is not the 70s..in the US we have sufficient O&G to cover domestic demand and export to Europe, etc.. the constraint tends to be permitting, not deposits..we are no longer dependent on OPEC
It’s being done on purpose. There’s an agenda they’re pushing.
Not only are car prices sky high, car insurances are sky high as well. My insurance premiums on my EVs shot up over 100% this year. I'm better off driving my old full-size truck.
my friends who have EVs also have high insurance premiums, I roughly calculated their insurance basically eat up all their gas savings.
@@EeeLife basically. After this year, the cost of insurance and the rising cost of electricity pretty much wiped out any savings you'd get from saving on gas and maintenance.
home insurance is NEXT
In Florida, the home owners insurance has extreme costs
Eek. I can't even get my first car just yet because of insurance being stupid expensive.
Remember when 100k could buy you a house. Now it can barely buy a car. So crazy
Not barely, it’ll buy any luxury car.
@@fardeenhasan7474 entry level luxury
@@fardeenhasan7474nah yea new Hondas start at like 25 and they are actually very nice even compared to old luxury cars
100k can buy several cars
There's plenty nice new cars for half that price.
It is very irresponsible of the president to use strategic oil reserves for his own benefit. I don't understand why he is even able to do it when there's no emergency.
he does whatever he wants whenever he wants no repercussion
Only 1 party allows everything
The US is the number one producer of oil in the world. That is the least of our problems now to focus on.
He sells it to China and Hunter profits. All while he drags us into war. Drill baby drill
The U.S. produces crude that is NOT Refinable here. It has to be shipped & refined in another country. 0Biden has sabotaged our country and left Americans vulnerable.
People just need to stop buying things, if its not necessary!
You are definitely talking to me with that comment!
Honda Civic basic price over $30K !! ridiculous
I don’t think so Tim.
You can get them for about $24,000-ish if you shop around. Closer to home, one Sacramento-area dealership recently put some on sale for just under $24,000, while another is trying to sell base models for over $27,000. But again, the key is to shop around and be willing to travel 100-200 miles from home if necessary to get the best deal.
Probably you didnt shop around your area
I am very fortunate my commute to work is only 6 min to and from work and my wife works from home.
This economy is killing me!
So, vote OUT CLUELESS joe!!!!!!!
@@MaMa-qh4dy, blaming Joe is not an answer. Quit consuming so damn much.
@@MaMa-qh4dy Keep sending Trump your grocery money.
@@MaMa-qh4dy you're literally retarded lol
Looks like Trump I'd getting locked up and nobody but the rich can afford to vote for Biden
Let that inventory keep piling up.
You are absolutely correct on the strategic reserve situation
I paid my 2015 Jeep off in 2023. It has a little over 81,000 miles on it. It's just getting broke in! Hanging on to it!! Thank you for the update. Frankly you are the only person I trust to tell the truth about fiat dollars, etc. God bless.
Mannn you got banged on that loan
Insane car prices. My car payment and insurance will be out of control.
Just use alternative transportation if you can
Cars should be 15k, suvs 20k and trucks 30k.
And people should have wings but they dont
Lap dance should still be $1 but they’re not…
Fountain of youth should be readily available but it isn’t!
Joe Biden should retire but he isn’t.
The good ol days
What he’s doing to the oil reserves should be considered a act of treason against the this nation
That's right, plus many other things he's done that are hateful to Americans.
Yup, and the condition of the southern border should be considered treason as well!
Trump did the exact same thing! Pulse he stole our nuclear secrets! THATS TREASONOUS!!
@@whatta7793Republicans are responsible for the border. They refused to pass their own legislation to protect it!
Bet you're one of those bright guys who didn't think Jan 6 was treason or that voting interference was criminal. Trying to utilize oil reserve to help Americans maintain ability to drive to work is treason? Listen to yourself. Without Biden, gas prices would've been $10+/gal. He could've just say "inflation is not real" like that moron before him and then do nothing, but he didn't and did his best to help every day Americans.
Still too high for me but good to see prices falling.
They are not lower all these idiots did is cause higher insurance. So until they drop to pre Covid I’m not buying anything especially to pay higher insurance premiums so that the insurance accountant can get wealthy at my expense. Fk these people from car dealerships to insurance companies here’s a big FU!
You really believe that? Go when dealers closed and check the window stickers.
This is an emergency Brain i just found out we can't print oil.
keeping my 2005 Lexus LS430 forever. I've had it 5 years and it now has 175,000 miles.
Toyota just announced the pricing for their new tacoma TRD Pro. $65k and that's before the markups lol. Dead.😢😅
😂😂😂
I guess, they'll have to settle for the TRD model. Or the base model, oh no, no cool badging
Expensive 4 banger.
We all have to stop buying Toyota
Minus well get Tundra at that price.
Mid Size Trucks with Full Size truck prices. Full Size Truck prices with Luxury Sports Car prices. People need to stop buying and show these auto manufacturers that we will not be scammed.
Then their engines are blowing up after 2k miles. Just crazy
Let's take a $1 bottle water mark it up to $4 then celebrate when it is now a steal at $2 😭😭😭
Would you rather celebrate paying $4? Prices could have stayed at that level. The gov needs to target corporations' greed so prices can come down
Worst is to see the can of Pepsi on Walmart machines from 25 cents to $1 price 😢
Stop coping 🤢@@WELVAS.
Im a used car tech and its rough out here right now. Too may high mileage cars and their not maintained correctly. Used car market is the toughest ive ever seen it in my 20 plus year career
I agree no one fixes their car anymore because of costs so there all run into the ground
So glad I didn’t buy into the FOMO.
Let’s be honest these car dealerships are greedy, the reason they’re dropping prices is cause they can’t turn inventory
Yea dropping price by like 2k 😂😂
Yeah. Market forces. Obviously.
Dropping prices makes them greedy?
@@tomcat8662yes because they tack on “extras” you don’t want or need.
Like wheel locks, undercoat, tint, alarm, scotch guard upholstery protection and more!
It's the old gas trick. Raise the prices crazy high then lower the price higher than before but lower than the crazy price. Makes you think your winning when your losing
Election time cough cough
This guy mastered the 'huff and seem annoyed' mood
It’s his signature style
The “I am disappoint”, and the “that just wore me out” expression lol
@@bonecrusher1792and slamming the papers on the desk during COVID
He's emotionally invested in our interest. You should be thankful.
Brian is the best - unbiased.
Got it right, compare to all the others.
I recommend you listen to him and not worry about his style.
I am keeping my Ford Transit until they come for it. 262000 miles and counting.
Ford sux
@@ShimmyShayes! I hate fords. Never again!
My cars are old when one will be 20 years she runs great and the other one my truck is an 09 also runs great. I have zero desire to make any changes.
Going into our strategic reserves stealing from Paul to pay Peter it’s still 0-0. Thank you again, Brian.
Last time I heard about stealing from Paul to pay Peter, it was in relation to pyramid schemes.
Sitting in my 08 Tacoma rn with 280,160k miles. She cranks up everytime and has never given me any issue that was outside basic maintenance. The way these new Tacomas are priced I’ll be holding in to mine till the engine says ENOUGH 😂
Does it burn any oil?
@@SeriouSXXFireworks nope, just got it maintenance about 10 days ago maybe and everything is fine (fine as in no major/ significant repair is in order)
Gas is up and car prices are through the roof here in california
Um, everything is too expensive there.
everything is more expensive there always, and you people STILL never change voting patterns. dont come invading FL and Texas.
@Yeah-its-me true and it ante coming down and which party runs california
Just filled up 6.36 per gallon for premium
@@alceja3522 Sounds like you might be in California
Average prices are misleading - the average is falling bc luxury car prices are falling. Used economy cars and popular new models stay overpriced bc of high demand.
How is it that they're draining our emergency reserves and yet nobody talks about it? This was my first time hearing it and it's shocking. It feels like a scary time.
Car sticker prices are falling but high interest rates keep the cost of purchase unaffordable.
Car and houses are the same. They are both unaffordable. They will both fall due to lack of sales and increased inventory
All my cars/trucks are Toyota and Honda.
One Mercedes, two Cadillacs, love em.
Ford househould here, bought brand new in 2001 400k miles on each truck now(F150 and Sport Trac) not gonna let them go. reliable as hell and maintained by the book.
My car replacement cost are $800.00 per year .I buy older rebuilder cars low miles . When it' is time drive them to the junk yard. The average i pay for my cars is is 6000.dollars.
Cars get cheaper in Bitcoin and more expensive in dollar.
any insider secrets?
Taking from reserves is a horrible idea. Give incentive to oil companies so they can drill for more and lower our prices.
We’ve been pulling oil out of the oil reserve without replacing it. We will be doomed.
we'll be stuck, exactly where they want us to introduce 15 minute cities
In 2023 the reserve was over 400 million barrels. In 2003 it was around 250 million barrels.
@@americandissident9062 and before this administration, it was just shy over 750 million barrels. ~750m to ~350m now, it has been more than cut in half by this administration.
@@americandissident9062 different times different needs. This administration has no will or want to replace it since they think oil won’t be used at all in less than 8 years. That’s not reality of how our world works.
You want to change? Vote trump!
Well, I have a paid off Lexus that’s 8 years old I just put new brakes, tires, belt, air filter etc and I don’t plan on selling. It’s beat aesthetically but idc
$4.19-$4.59 in Alaska…..Anchorage and the Matsu valley areas.
The dude took less than 4yrs to undo 30yrs..imagine this dude and his administration getting another 4yrs..no more oil reserves..smh..
Preferable over trump. Won't have 9 trillion added to the deficit atleast.
@@eegernades uh.. no.
@@eegernades It's the democrats plan. YOU WILL OWN NOTHING AND LIKE IT
This guy is the best!
Happy Friday Brian! Have an amazing weekend!☀️🌸
2001 Tundra with 224k miles and running strong and 2005 camry 320k paid off years ago. Don’t buy new cars! They keep you broke, get a quality used car pay it off and fix it up a bit. Will be way cheaper in the long run then new, would new be nice yes but not being broke is way nicer! Lol
Don't forget, that jackass killed the keystone XL pipeline deal that would have produced an extra 800k barrels per day, but wants to pull from the S.P.R.
LOL! The KEYSTONE PIPELINE WAS NEVER GOING TO PRODUCE OIL FOR DOMESTIC USE! IT WAS TO TRANSPORT CANADIAN OIL TO THE GULF TO BE EXPORTED TO EUROPE , AND CENTAL AND SOUTH AMERICA WHILE EXPOSING THE AMERICAN HEARTLAND TO POTENTIAL ENVIRONMENTAL DISASTER. EDUCATE YOURSELF BECAUSE YOU ARE CLUELESS.
Love your videos Brian. You got me through pandemic when I first discovered your channel with all your updates on income tax filings stimulus checks and all other economic related info. Thanks !
With war around the corner it's stupid to get into the reserves due to elections.
My 2000 GMC Sierra I paid off in 2006 just hit 300,000 miles 2 weeks ago. I'll keep driving it.
I saw a 2022 Sequoia with 67k miles for $67k.. freaking insane
Thank you for covering the oil topic regarding Biden very honestly. I feel i’ve been going crazy because i thought im the only one who sees this.
Thank you so much Brian!
Thanks Brian once again !
I love this, I watch Car Edge on RUclips regularly. Pretty much have to buy used and from fleet companies like Hertz, National, Avis etc.
Every rental car I have ever driven got driven HARD. 😂
just buy an older car
Thanks for the valuable information
Insurance on EV's has gone crazy. It is because of 18k battery cost in wreck.
Insurnace in general they tripled my rates I went somewhere else right away
You couldn't drive one of those up my butt. ✋️
Not only the cost of the battery. but the damage an EV can do to other vehicles. They are very heavy cars.
2012 Honda civic 210,000 miles. Paint is faded, moon roof doesnt work, cd player broke BUT it runs like new. Best of all, it aint pretty anymore but no payments
Ev's are extremely over priced
Yeah but insurance keeps going up
Thanks Brian! Have a great weekend!
Happy Friday, Brian! Have yourself a great weekend, thanks from Austin
Thank you for your time and service 🙏 have a great weekend.
Thanks Brian
Thanks man, good stuff !
Gas stations make their money on fuel on the backside (when prices go down). If we use the reserve oil to lower prices, most of those savings will go into the pockets of gas stations and every other company in the supply chain.
Thanks Brian!
It's all about the Lexus IS 500
Thank You for your correct opinion on draining reserves.
Always great and straight to the point info.
Thanks for sharing
Thanks, Brian💐
Keep up the good work 💪🏾
Not buying anything until prices come down. And thank you for saying what needs to be said about the strategic oil reserves, that is extremely reckless and dangerous draining it
Trump did it!
Fuck stats. Here's facts we all know. My wife makes 95k, I make 70k. We live in FL. Pre Biden we lived comfortably with that income. Could go on date nights, purchased new vehicles every 1-2 years. Buy whatever we wanted and just did really good working up in our careers to have what we have. We also have 2 kids. Fast forward now, same income as our raises have been shit. Our CC debt is climbing as we barely can afford the increase of cost on EVERYTHING. That's very sad and scary. I don't see how we are not going to file for bankruptcy in another 1-2 years. It's bad and it's getting worse. Nobody can afford shit anymore.
My mother in law was talking to my wife the other day, and I heard her say she wanted to take her current vehicle and trade it for a new one. Because… she might need to put new tires on it.
This woman has had her base model 2021 Hyundai Santa Fe that she bought during the pandemic for $48k used with 20k miles on the clock. Yes, she paid almost double retail for a used Hyundai. She traded her paid off Chevy Cruz and got $11k for it and went from having a paid off car to now having a $750/month car payment at 7.5% for seven years. She’s underwater on the vehicle and wants to roll it into a new car.
She’s 63 and has no savings, no retirement, owns no property, has been thru bankruptcy three times (that we know of)…
Car shoppers in America man… this is what truly keeps people poor…
Why not just put new tires on it?
@@rsxxboxfanaticbecause she’s using it an an excuse to dig herself further into debt for something shiny and new. She thinks if she can’t pay for it, oh well, bankruptcy again! She’s never had to deal with the consequences of her bad choices.
she's your MIL your wife will expect you to take care of her 😂
she's your MIL your wife will expect you to take care of her 😂
she's your MIL your wife will expect you to take care of her 😂
People are tired of high prices. And relize interest rates are not going to be lowered. And with banks extending loans to get buyers. People don't have the money paying, plus job security for 6 year loans.
Thank you again for the updates.
Been watching youtube on how to service my car. I did not realize how easy it is to change brake-pads. I have been paying thousands of dollars over the years for stuff like that.
It's all been planned.Just look back to cash for clunkers.
I looked up many used cars with prices as much as that of a new car, kinda makes the new car a no-brainer when you consider the full warranty and no worries about repairs....
Love his analytical mind
He talks facts
Such of pleasure listen objective content these days 🙏
Thank you for this excellent summary.
They still need to fall another 30-40%
FJB, AND HIS ADMINISTRATION...
Oh but didn't you hear everything is great and we're booming according to Brandon lmao
F mj
Amazon banned me from reviewing products I bought because I always added "FJB" LOL
CRY HARDER!! TRUMP CREATED THE PROBLEM!
Economy is "Hella strong"
Dealers are not bringing prices down just as real estate price has not dropped at all. They are tightening the market to a select few. There is no indication that car sale prices are down.
thank you, Brian! Brilliant and succinct as always.
Hard to imagine that people are paying their entire annual salary for a car. It doesn’t even make sense.
Everytime the gas price fluctuation topic comes up, i immediately think 'XL pipeline'. I miss those days...
I’m so glad they shut down the pipeline. So many railroaders would have lost their jobs.
Yeah, hopefully, trump wins the election for the third time, and it counts this time!
@@Francisco-po1cfB.S. you're glad to pay twice the amount for gas. 🤡
well draining the oil reserves creates more inflation in the end because they will raise the oil prices when they have to add more production to increase the reserve. its a catch 22!!
I appreciate these videos I’ve been sitting on the sidelines ready to buy when the moment comes and prices are back to normal
I feel bad for the people joining the Tesla rug pull.
Don't feel bad, we are doing great and will be doing even better as has been the trend.
@@charltonblake9967 so fast @ depreciation
People driving teslas got dog walked by Elon musk
@@mrbear3487 why you say that
Tesla ain't going anywhere. Elon makes NASA look dumb. I paid $50 to fill up my car last week and yesterday saw four Tesla's charging for free in my office parking lot. Jokes on us gas guzzlers mate.
Happy Friday! ❤
Thank you for your time
2013 Tundra 100,000 Miles.
2017 Toyota Sienna 85,000 miles. Planning on driving and maintaining until the wheels fall off. Screw these prices.
Most importantly. Thank you for the videos
Everyone needs to stop buying anything except necessities. Leverage the high yields and hold. Companies will give in or else enjoy your fully loaded toyota corolla s for 40k
It’s odd that car prices come down but not homes. Oil is not going down so I can’t see inflation coming down
It’s not odd at all. Car is an expense not investment. All cars die eventually
I just saw an article that two guys bought 1.4 billion dollars of houses fraudulently by lying on their applications for mortgages. They own hundreds if not thousands of airbnb properties. Now imagine that problem multiplied by many more frauds.