Car Dealers SCREWED Buyers, Now They're Paying the Price!
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- Опубликовано: 17 май 2024
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On this week's episode of RYGTBKM, used cars (especially used EVs) continue to depreciate and Edmunds becomes an unwitting victim; car companies pay WAY TOO MUCH to their CEOs and executives; Lincoln reveals its "interesting" new Continental Coach and Town Car Edition; and Chevy's first Silverado EV will be priced at over $100k with taxes and fees. 
Развлечения
They offered me $450.00 for a 1995 Jeep Wrangler with no rust, new paint, front and rear tow, new tires, new brakes, CB with fire antenna and 4cyl, 5 speed with hard top. Sold it privately for $5,800.00.
Doctors bury their mistakes, lawyers visit them in prison, car dealers park them on the used car lot.
don't be ridiculous; I never visit any of them
Yikes! How accurate! 😂
Dealers did screw people but people allowed themselves to get screwed.
This. Dumb people overpaid because they were dumb. It's their own fault they got screwed.
@jerrypowers7671
Nope fools with money allowed dealerships to screw everyone.
I don't blame the dealers. I blame the people My brother in law was one that flew from MN to NY to get a Rav 4 for thousands over MSRP. Drove it home and now it's worth 1/2 of what he paid, if that.
Dealers never screwed me -- because I won't allow it. Buy bargains not bubbles.
Banks were the supplier dealers were on the street corner and the mindless addicts lined up around the block. Without ridiculous loans most of this foolishness couldn't have happened
GM: we give you a V8 Camaro
Also GM: every time you punch the gas pedal, we sell your data to your insurance company so they can hike your rates four times or refuse insurance, whether you suck at driving or not
I knew gm was snooping too far about 14 years ago. I got in my car, the call I was on switched to Bluetooth, then instantly disconnected and a rep was on the line instead asking if I wanted to continue my onstar as the new car one was expiring. I instantly went home and pulled that onstar module out of the dash.
I think this is just another example of exactly how crooked and toxic the entire automobile industry is. Anything to make a buck. And a buck is never enough, they always want more. And they will lie, steal, and cheat, to make more money. Our capitalist economy is destroying us. We no longer worship Almighty God, we only worship the Almighty Dollar. Nothing else matters, only the Almighty dollar.
Government
Motors
That's when you stop paying and disable the tracking
@@cashmeremonroe7715gotcha motors
I went to a lot and all the 1 ton trucks were $100K. I don't think they are getting the message yet.
Don’t believe everything you see on YT…
recently went to my Lexus dealer and the manager was complaining about poor sales and how they are overstocked with inventory. Turns out the dealer still had a markup on every single one of their vehicles by charging a non-negotiable 5k add-on but discounting final price by 4k. Literally a joke.
Corporations are being run like Airlines. All CEOs care about is their salaries, severance packages, and the stock price. There are very few companies that care about making quality, reliable, and affordable products. CEOs just aim to make a lot of money fast and collect a big severance when they get fired. Look at Disney, Boeing, or any airline.
CEO’s primary responsibility is to protect stock holder value, actually they have a legal fiduciary duty to protect value. The stockholder and board of directors decide the compensation of the CEO.
A CEO job is 7/24hour job, they can/will be sued by the stockholders should he/she screw up. CEO’s actually carry liability insurance to protect their assets should they be sued.
@@judd_s5643 you are correct and prove my point. There is no incentive to produce quality products, or pay employees fairly. A good CEO knows that good products priced fairly lead to customer loyalty and long term sales.
Corporate greed , that is why inflation is so high.
I have to pay 40% of my income in taxes yet a company that earns billions of dollars per year pays 1.5%.
Fair is for Children and games.
Ford dealer in Dallas is trying to dump 2023 (Realized the typo and corrected it) Mustang Mach E's for 10k off at 33k. Still on the lot! Imagine paying the original 43k just 4 months ago and being 10k over price of a new one now.
Imagine paying $60k plus like people did last year. Or $65k for a Tesla Model Y - the same vehicle you can now buy new for $34k. They are hurting
And that one is a cheap one
Kia Teluride selling for $68k just a year ago and now not worth more than 36k. Dealers will let buyers pay as much as they want.
@@sabastian4858 Yup. Bottom line is, dealers/manufacturers jacked up prices and consumers validated their behavior by continuing to purchase vehicles at inflated prices. Now many of those buyers are likely tens of thousands upside down.
I feel bad for buyers who absolutely needed a vehicle, but I suspect many people just wanted the newest shiny thing
The Mach-0 is competing against the far superior Model Y. That’s why they sit. If they’re not priced well below the Y, they’ll go nowhere.
Yeah, but Carmax will turn around and try to sell it for 50K
Gosh, buying low and selling high, as if that's something new…
When I was 18 I worked with my Dad in his auto body shop. Parents tells us things often because they worry about us and love us more than anybody else on earth will love me, even my wife (I'm about #7 on her most important list behind the dog, house, kids, her job, neighbors). I luv watching you guys, thanks for letting "us" in to your world. btw, your father is a riot, he is so smart that his jokes are fantastic You often play straight man to his routine. Great! Love from Philly.
@212helpdesk At first, I thought you were on wife # 7.
If you are #7 on your wife’s list,,,,, you are a loser. Be a man. Get a wife that puts you first. Simp boy.
My brother in law has owned companies in the software/ tech industry for 35 years now. He said the Canoo CEO is a reflection of the software startup mindset. Build it fast, push it fast, dump it faster for millions of dollars. It’s how they think. Not long term. One project, then onto the next.
Being in the IT industry myself for over 35 years now, I can attest this is true for 75% of companies. Me personally, I worked all these years on my own company offerings, etc for the long haul. Now those "quick buck" companies want to buy me out, but they don't have the cash as I increased the value of my company to almost 7 million. And it's a really small niche IT industry (don't think "apps" for phones, etc... think mainframe solutions).
Laundering scheme!
One project, on to the next, get rich doing it. It's OK, assuming they follow the laws.
I reped a company in the 90's and all the big wigs wanted was to put their kids thru college so they had short-term goals and made deals in NY showrooms and it tanked the company and my job. The owner was not in on the deals. He was a nice guy and trusting. The country has gone to pot as my 100-year old friend says.
I remember when Fisker when out of business or declared bankruptcy in 2013. We had one in the shop that needed batteries and none were available making the repair n/a for us.
I'm sure if you disassembled the batteries, see what company made them you could find the supplier and re-build the battery pack but the risk to reward with that is not worth it.
I guess they're back to do it again.
I don't feel sorry for the dealerships. I was going to buy a new pickup to pull my camper around but after doing a ton of research have decided not to buy.. As a man in my 60's I have decided to take that $60,000 and rent a seaside condo in SE Asia for 10 years. 🎉😊 Here was my choice. 10 years in a tropical paradise surrounded by beautiful women or drive a really nice pickup.
GM clearly has not learned from Ford's mistakes when it comes to EV trucks. Good Mary @ GM you are gonna need it!
Isn't Fisker a pair of scissors ✂️?
Different companies same name.
"Fiskars"
I thought they made sink faucets.
We'll all be driving the Honda Trail 125 motorcycle.
or for those at the moment in Texas and Louisiana, Kei cars and Kei Trucks...
You meet the nicest people on a Honda!
I want to buy one but there’s a huge wait list here on Vancouver Island 😢
"First gear, hang on tight" ha ha ha
Itchy Boots rides Alaska, Honda, 300Rally altho she's on a KTM right now in Madagascar.
The Lincoln is a remake of Johnny Cashs one piece at a time Cadillac!
I feel nothing for those that were not in need and bought cars, knowing, knowing, they were paying top dollar. Patience will save you money, more than impatience. For those that needed a car, I feel a bit for, because there was nowhere to turn for any deals a few years ago.
The Lincoln Continental Coach and Town Car article was released on April 1. Gotta be an April Fool's joke.
Completely agree…….Unless Lizzo was the design inspiration😳
Yeah, they kinda missed (or ignored) the byline
Let me help you Ray.
$96,000 for a car or truck!!!?
WTF!!
A person can buy a home cheaper than an EV & the home will outlive the vehicle.
We all know most vehicles only last around 20 years.
So what the auto industry wants is around $500,000 from every driver through out their lives??? Thats pure BS!!!
The auto industry is going to hell & as a cosumer. I can & will call it out.
Myself l work in the auto industry & the whole month of march l only got to work 24 hours a week! I cant pay my bills on those wages let alone a car payment of $96,000+!
This country is going to 💩 QUICK!!!!
I don't disagree with you but where are you that homes are 96k
@@koenigseggkid1678 Shopping plenty of homes around 70-110k in Indiana.
@@koenigseggkid1678 must be nice, in my area of indiana very little is 98k starting tends to be 125 and up. and they don't last a week
@@koenigseggkid1678in the Midwest but they either need a lot of work or are foreclosures
@@diseasesjesus5078the prices have gone up in the past few years, you could easily buy a house for 120k now they are easily 150k or more
Bankruptcy galore!!!!
Just bought 2024 Honda Accord hybrid EX-L with cash. Tax, Title, Aggravation fees, total $36,928. I like the 50 MPG city. As commodity prices inflate (oil & gas) I'll be set.
Aggravation fees, are those on top of the additional overcharge fees?😊
I like the fact that you avoided the tiny turbo 4, but I don't trust CVTs.
@@bills6093It’s funny when I purchased my 2019 accord 1.5 my primary concern at the time was the cvt. 5 years later Turns out the cvt is extremely reliable but the 1.5 engine is a pile of crap.
Explain why you paid those "aggravation fees" and what were those "aggravation fees?"
imagining having roughly $40k in cash... i could never
Never had a dealer make me sign for a car at gunpoint
I have
@@Trd2020I have also
@@Trd2020 Really, did you contact the police?
...they just make you feel like it...
Of course not, they are more clever than you. Why would they need a gun?
I literally just finished reading of someone that was contemplating purchasing a B-EV, and elected to rent one and use it on a business trip.
Judging by his issue with connecting, I assume it wasn't a Tesla, his final assessment was. Every gas station has a nozzle that fits my car(parsphrase). A cogent and impactful insight.
Our local Toyota dealer must be hiding their vehicles- they still do not have them on the lot, for the most part.
Interesting video about car depreciation. Great videos. I am a fan. Sharing this video on X.
Love you guys… Great content!
Are those rapid price discrepancies accurately called depreciation? It's really manufacturer mispricing; the selling prices are greatly higher than the products' real-world value. For the thousands of new cars languishing on dealer lots the real-world value is zero. Nobody is buying them.
I got lucky. I bought a Tacoma right before COVID. After COVID? Price shot up thousands...if you could even find one on a lot. Incidentally, I love this truck!
Last year my wife’s 2021 Murano had a trade in value of $27,900 in 4 months it dropped to $18,500 needless to say we’re keeping it .. 1.9% financing on it .. Why not .. let the new ones rot
same here...2 years ago they offered me 40k for my ram. a year ago 33k and. now 21...what a joke...ill keep it too
It’s a 2021 and you are still making payments on it?
Yup. Carvana offered me $25,000 a year ago for my car. Last week they offered me $19,000, and there's only about a 700 mile difference on the car between then and now (I don't drive it a lot). Needless to say I'm keeping it too.
@@JohnDoe-wy2py it will be 3 years old in august.. I have a 4 year note .. Yes I’m making payments
@@sc2603 congrats. Almost paid for.
Great show, good info! Ray your hilarious
It comes down to dealer greed. Trying to send your kid to Harvard on the commission from one car sale. Sell a good product for a fair price and they'll be flying out the door. Trying to sell overpriced products that 75% of the potential market can't afford is sheer incompetence and I hope it leads to bankruptcies all over the automobile industry.
As a sales manager I can tell you what you said has little factual data....former dealer.
Just yesterday trying to buy a 21 Subaru Forester asking 23.900 and Carmax says 19.900 and dealer will not negotiate with me 🤔🤦🏼♀️🤷♀️
Can you guys Do a video on Vans such as Mercedes Sprinter, ford transit(trail)
Ram Promaster 1500
Local Toyota adds a $1699 New Car Package and they say its a mandatory extended warranty of some sort. Its a we want a new car tax I take it but I’d rather they just raise the price on the car instead of adding stuff on that we’ve no interest in buying. Unfortunately my wife wants a new car for the 1st time in her life and she wants the hottest selling RAV4 Hybrid and either we pay that extra cost, buy preowned (of which they add a $499 preowned package lol) or go elsewhere. Called other Toyotas and they noted all dealerships have the flexibility to add addendums to sales & they themselves do something similar. This must speak to their hold on the market right now. They do this because they can.
Her “wants” aren’t more important than your money. She would blame you if you two get in a financial pinch because of the purchase, anyway. She wants to be ruled over and doesn’t know it. Put your red pill foot down and keep your current car.
The date on that Lincoln post was April 1st.
Very informative channel. Can you do a video on how to negotiate with a dealer when the same dealer represents multiple brands next to each other? For example, there is a ram dealer right next to a ford dealer both owned by “Gotcha Motors” lol. What if I am indifferent to ram or ford and just want the best deal from either. Could be a useful video, thanks!
Might be a Kevin Hunter question.
I was one of the early reservation holders and I wasn't ready for the car, so I declined the lock order deposit of I believe it was around $5000. I am just so glad that I got out with only $250 loss. Even if it was offered for $10k, it will be a tremendous headache. Let's say something happens to the car that was manufacture error, who's going to represent you in law where there is no defendant? This car's value is not even $0.
You guys are great love the show the way you two enjoy eachother and the way Zack gotta keep Ray in check sometimes the reason Zack don’t abuse the money cuz he actually loves what he does u can see it. And I agree if keep don’t lower the gladiator 15% plus dealer discount I would NOT have bought one
Love the show guy's. Great show. DEPRECIATION. Yes, its real. You want to eat thousands? Buy high, sell low.
Buy extravagant.
I may be in the market to get a second car when these prices continue to tank!
What's an optimal age/mileage to sell a used truck? I feel like there is some point where it stops being valued for low mileage / late model. The depreciation charts don't reflect a second dip... but maybe there is a demand dip after a certain point? 75k miles? 7 years? more? ... or is it truly a smooth depreciation?
Most new trucks are unreliable garbage, so there is no good mileage to get rid of a reliable, older truck.
Wasn't that Lincoln page posted on April Fools?
I love you guys! Every time I hear you guys I get a laugh! Oh, I do learn a great deal as well. 😂👍👍
Ray, a 6-month old Lightning is $30,000!!!
You did look at the date of that Ford? April 1st.
Some feedback: I don't have a reference to judge: "This car sells new for X and used it is only worth Y" Every new car depreciates when it is sold. How does it compare with a Rav4 prime or a Forester?
Great content Gents
I love Ray's expressions 😀
I don't think Carmax is a good place to judge your cars value, when I was selling my 2019 Volkswagen Tiguan with 17k miles on it I offered it to Carmax using their online system since they are over 2 hours away they came in at $19,500 I sold it to a local dealer for $25k, same goes for a 1993 Ford F150 I tried the Carmax thing they offered $900 bucks I sold it on bring a trailer for $10,250 so carmax is only good if you're willing to take a really low offer and you need the cash now.
The battery has value in a home backup system if nothing else. 113 kwh is worth 20k at least.
I’m retired and enjoy a decent pension but there is no way I would spend a full years income on any car or truck!!!
Is there an app where I can find out if my prospective date is making car payments?
Here we go again! Did you read this ? If you need cash, Yendo let's you tap into the value of your car to get credit up to $10k. RIDICULOUS
The Ford executive thing is stupid, do they know the Ford executive is pay income tax. 🤯
In Washington State the $ 69,000 vehicle if that did not include tax, license, doc fee that would be about another $ 7500. That is a lot of money to loose.
Of course that doc fee is a fake fee. Knowledgeable car buyers know how to avoid those fake fees.
The best time to look for a new vehicle is when you don't need one
I’ve been following Canoo since 2021, and they really seemed like a promising company with a quality vehicle. This is just crazy, and definitely makes me rethink their company’s mission to their potential consumers. At this point, who knows if they’ll ever get to market.
Edmunds needs to jump on that CarMax offer!!!
Just wondering what are both your guys daily driver year, make, model ?
Zach, doesn't own a car although his girlfriend Laura has a 2014 Subaru Forester and I drive a 2023 MINI Clubman S ALL4. All the best, Ray
Has the 1979 Cadillac Eldorado with Oldsmobile engine gone down?
Great father and son team !
Maybe Ray needs to make a hundred billion worth of crappy cars so he can get his tax rate down to 1.5%.
Is this a rerun i have seen this before but its uploaded an hour ago wtf around 6 mins or so into vid
What about the wrangler 4xe?
Value the Fisker at the current price of scrap metal. Thats the actual value. When it has no support system in place for parts and SW updates. Its scrap.
No, it's worse than that. You will have to pay to dispose of the toxic waste.
I’m running a small side job business that I want to turn into a company, but I need a truck and a cargo trailer. What are my best options to finance or lease?
Buy old truck. Fix it up. Buy old cargo trailer. Fix it up. Dont got tools? Buy tools. Not a mechanic? Learn.
Thats what i did. And i did this with 18 wheelers.
@@someguyfromtheinternet5102 I’m just thinking after the time and work I put into buying (sourcing) and fixing something old it would kind of even out ya know? Plus I want to move fast you know, I want to roll out, I feel as though I’ll make it back ya know.
@@viplegaleducation1292 what are you even trying to do?
Buick Envista - Hell of a good vehicle. Start around 24-25k and have heated seats, remote start, etc. one of the best deals in the market right now.
U.S./CANADIAN PARTS CONTENT: 3%
MAJOR SOURCES OF FOREIGN PARTS
CONTENT: KOREA 55%
MEXICO 21%
NOTE: PARTS CONTENT DOES NOT INCLUDE FINAL
ASSEMBLY, DISTRIBUTION, OR OTHER NON-PARTS COSTS.
FOR THIS VEHICLE:
FINAL ASSEMBLY POINT:
BUPYEONG GU, IN KOREA
COUNTRY OF ORIGIN:
ENGINE: MEXICO
TRANSMISSION: KOREA
Good that it does not have a CVT though.
Nothing from GM qualifies as a "hell of a good vehicle!"
Buick is absolute garbage.
I don't understand; did no one explain to these car companies that if they want to go out of business, they can just sell the companies? They don't have to destroy an entire section of the economy!
ram dealers will have a huge problem on their nonsaled 2023 models since the manufacture stopped the 10% manufacture discount april 1st😁 I do not feel sorry with them. I wonder when the time well be that it can ask for 30% off msrp for a 2023 model
We drove by a dealer in smalltown rural KS...they are sitting on 75+ trucks...sad
@@reneeann5340 I dont feel sorry at all. I told a local dealer im willing to purchase their trucks if they give me 3k more for my truck and go down another 2k on their truck. needless to say a its still sitting their after 6 months...tough luck...
They were always going to pay - just took time. Even if the economy had more slowly shifted, the pricing was always the issue bound to deplete the buyer market numbers.
You name two cars with very unique situations as examples of huge depreciation of how dealers “screwed” buyers.
Ah, the art of the clickbait.
Title of the video is spot on. Idgaf if these new dealers all shut down, that's what they deserve.
The Lightning is egregious. That happens with ALL cars that have a massive surcharge. When the inevitable imbalance in supply and demand clears up, the original owners are terribly upside down.
Went to carmax last week to sell my truck and they only offered me 21000. Also had Carvanas offer in hand at 25000 and laughed in the guys face when he said take it or leave it. 😂
I was looking at trading in my Stinger for something else. Local Kia dealership offered what I paid 2 years ago (36k). Carvana offered 32k. Local dealer offered 30k. Now, a few months later, I'd be lucky to get 20k. Lucky I love the car! 10/100 warranty.. why get rid of it? It looks better and is faster than most cars out there. :)
I'd keep the stinger new cars suck
@@Kovemaster_69Stinger is a new car and it sucks 😂
@@604h22a I'd take a stinger over tesla or some kind of ev trash
It’s the change of clothes/room mid-video for me
At least the Lincoln looks like a Lincoln. Previously they didn't
7:37 - "The Homer" at home.
It was almost not worth watching because I don't know what a Fisker Ocean is. I don't know every car in the world. At least you told me what a Canoo is. By the way, Ford pays workman's comp and half of the social security taxes for every one of their employees. It may not be considered corporate taxes, but it is TAXES.
You guys didn’t notice the date on that Caddy reveal lol
I absolutely could not agree more, go to the lowest bidder, and just get the car out the door a.s.a.p .new vehicle quality is absolutely complicated garbage ,with a lot of quality issues. Just wait 5 years later when complicated electrical crap that costs thousands go out
my local
bmw dealer is having a big used car sale. and they want to look at my lease on my mini countryman s for a possible early buyout
You might need an account to look over that lease. The dealer may be trying to screw you over.
@@EMichaelBall my guess is unless the deal for a new car is around the same as what I pay now 500 dollars a month or close to it. it’s probably not worth it. unless it’s some crazy deal they really want low mileage cars.
What about older vehicles ? Like a Ford Raptor 2019?
I wouldn’t hold your breath that more specialty type vehicles will drop a massive amount. The demand is still high on these.
I've been eyeing a few at a local mom and pop used car lot. They have three,a 2013, 2014 and a 2018. They want $30k for the 13 and 14 and 36k for the 18. They've been sitting for almost a year
In addition to the bad style, they have suicide doors.
Put it in a museum now. Might be worth more that way.
The federal government isn't hurting for tax money from Ford. Businesses pay taxes in many different ways; the least of which is business "income" tax. Also, presumably, those 5 executives payed plenty in taxes from the $355 million they received from Ford.
These companies upper mgmt are Waaay Over paid and this is Killing them
Guys, that Lincoln was an April Fools joke.
EVERY company should be paying more to execs than in taxes if they have competent tax attorneys.
It's their fiduciary responsibility to pay as little in taxes as possible, ideally $0 or even getting a refund.
Fisker has gone bankrupt and let his customers carry the burden 2 or 3 times before. Anyone buying a Fisker is going to carry the burden of the next bankruptcy. It’s already a crummy vehicle, but customers will have No company support and the vehicles value will tank.
Todays cars appear to me to be nothing more than revenge! Cars used to last a long long time with any decent care! So we’ll take out engines and put in put-put motors with floggers attached. We’ll take out transmissions, make them shiftless belt and putty one speed junk! My last sedan(2013) had about 300 hp and an eight speed trans giving 37.5 mpg on the road! (Regular grade fuel)All this downsizing today seems so ridiculous to me!
I don't trust car dealers. Haven't since 2006 when I tried to buy a (then) brand new 2006 Honda Civic (the eighth generation design that had just come out). I wanted to start the financing process, but the sales guy comes back out and tells me that my credit wasn't good enough for the brand new $15,000 car, but that I could get a used model (the older seventh generation design 2005 Civic). I was suspicious, and I told them no as there was paint damage and I wasn't interested in the older design. Turns out what really happened was they had one 2006 Civic on the lot, and they sold it while I was doing up the paperwork. Rather than tell me they sold the car and they could get another one later that week or whatever, they lied to me and told me my credit wasn't good enough, because later that day, I went down the street to the Toyota dealership and bought a brand new 2006 Corolla S with no problems at all.
4:43 Ray Hoka’s and race bikes are expensive…😂
Oh my gosh..my friend bought a Fiskar Ocean
He can keep it for a long time.
I just traded in my 2022 VW Taos with 5k miles it was a 32K suv I got 23K nearly a 33% loss in two years. I got a Ford Maverick Hybrid....much nicer.
How the joke begins: "Ford, GM, and Stellantis walk into a Carmax...."
Buy the vehicle for the battery, have it modified to be used as a home back up. Thoughts?
Recycle the seats as furniture for the living room & sell it as some luxury sofa? Dismantling it & selling for parts under the radar would probably pay more than handing it as trade in. 😏
LS swap the EV lol
I got a 2021 Mitsubishi Mirage with 7700 miles for $12500.. if it can go to 100,000 miles its an absolute bargain... plus it technically has 2 years of factory warranty left, at practically all the miles I can drive (Runs out at 60k)..
The long waited coverage on the Oceans
What kind of people have $100K to spend on any vehicle let alone a pick-up? Its insane . . . . have their marketing people not looked at average income data for the country?
They don't pay cash. They're almost all on payments.
People who have a solid income or a trust fund. Many do.
@@jerrylundegaard2592 - if you figure the top 1% of earners make over $200,000 a year (and I fall into that category) I’d still be reluctant to spend $100,000 on a car that depreciates like crazy. People with that type of money typically invest it. Also, if I decided to spend that kind of money on a car, I probably buy Lexus rather than a Ford or a Dodge simply as they last a lot longer (been the BMW route and won’t go there again). What I was looking at was the average earnings less than $50,000 a year so the idea of spending multiple times your income on a pick up truck just doesn’t apply to most people when they have to pay rent and food. That’s what I meant when I said that really the marketing people in these companies are out of touch. Unless of course they’re only catering to the top one percent