Car Prices DROPPING FAST, So I'm Buying - This Is What I Paid
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- Опубликовано: 10 июл 2024
- Car Prices DROPPING FAST, So I'm Buying - 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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Brandon, you are the ultimate example of why being allergic to debt is a benefit. Slow and steady growth of your business without debt lets you thrive, even in uncertain times. Your ethics and determination let you build a great business without leverage. Your business processes are simplier since you don't need to deal with floorplan and consumer financing companies. Your customers are better off since they can buy a quality car without getting up to their eyeballs in debt. Dave Ramsey woild be proud. Don't change. Being mega rich isn't worth selling out and enriching the banks.
I bought a 2014 Expedition new in 2014. It now has 9200 miles on it and paid it off a long time ago. I plan to keep it for a long time. Don't need any fancy computer screens and other electronic stuff just to drive to the supermarket. Don't need any $800 a month car payment either. 😊
9200??? Is that a typo?!?!
Well with a 800 a month car payment, you won't be buying a lot of groceries.
800 a month is fine if you can afford it and the loan is paid in 36 months. The main thing is to not be upside down in a car loan.
I agree about not being obsessed with having the latest tech on your car. Just more stuff that will break and cost you a bundle. Just imagine the people who paid for car navigation systems only to see it be made obsolete by a cheap cell phone app. Or the case of a guy who had to pay $5k to get a tail light replaced because it was wired into so many other electronic gadgets.
@@johnphillips2396even if i had an extra 800 a month i still wont have enough for groceries for a family of 5 😊. Hate inflation
Pinched the banks too … I have decided to keep my truck and go as far as it can .. listening to you and Ray and Zach I would be dumb trading it
People should NOT accept an$750/month car payment. They should hold out for as long as possible until you absolutely need a new car. It’s the only way sellers will learn.
That was my starter home payment
I first bought my car back in 2001, I thought $200 payment was a lot. My first apartment rent, $650 thought that was a lot too lol. Current generation economy sucks, glad I didn't grow up at this time.
@@gravity-zero2917 I bought my first house in 1975. Had $125 a month house payment which seemed like a lot of money at the time.
That's my current house payment.
The amount per month doesnt matter (as long as it is affordable). The most important thing is to keep equity in the vehicle and not be upside down. If you get a car for a 200 a month payment for 72 months, you are going to have a terrible time getting rid of it if you need to without hurting your credit.
Being a dealer you have the advantage... We (Joe Blow) on the street cannot get them unless we get them at a dealership... PRICES ARE STILL OUT OF CONTROL!!! 70k for a standard Jeep, 65K for the cheapest PU Truck... It SUCKS
You don’t have to buy brand new. That’s a choice 🤷♂️
My truck is 100,000.your 5×7 bathroom is 45,000?
Thanks Brandon and Mrs. CQA for posting up another video. I think the YT audience likes seeing what you are buying and how much you pay for them, along with some insight on the industry.
That's why I watch, from the West Coast. 😊
It’s hard to catch a falling knife, be careful. Opposite here in Memphis, auctions were higher this week than the last couple months, pull them up on edge
dealers I've been dealing with won't drop their prices on used and new right nationwide. they keep saying they are competing at the present market value. oh well.. until then.. I flew out to NC last time I got my FJ cruiser. I just might have to find you at some point. Thanks for the updates!!
Prob break down on way home with this dude 😂
I agree. I had a dealer tell me he would send a used truck to the auction rather than meet my price.
Thank you for your video. Not in the industry don’t buy and sell cars but your brake down of how sales are going and prices. Car sale new and used is a leading indicator for our economy.
I enjoy your channel Brandon. You always keep it topical and informative. Keep up the fine job.
Amazing presentation with a lot of valuable information and inside scoops. I totally understand what you are saying and want local buyers only as remote shoppers just aren't worth the hassle in this level of cars. Thanks Brandon.
Tax time going forward for dealers is dead ... After the tax changes, peoples refund is much less than 5 years ago.
I’m retired & make 48K a year, so car companies have blown right past me for what I can afford. Maybe dealers are more flexible in Carolinas but not seeing prices move here in central Illinois. The local CDJR & Honda dealer, Chevy, Nissan, Yota dealer & especially Ford, no price drops anywhere. Maybe they’re just stupid & not responding to lack of sales. Son in law a Honda salesman & he’s telling me - no action, dealership a vacant space which is highly unusual for Honda.
Good work. You're a good guy.
I like the price list thanks for the transparency
I want to retire one day and its nearly impossible to save for that twilight when you are spending 750$ a month on a car payment and 2000$ a year to insure the vehicle. I'm not out to impress my coworkers. I also know how expensive it is to Repair the newer cars.
I see young families struggling to buy a home yet spend 20,000 in a year on their vehicles with payments, insurance and repairs. Yet wonder why they are always broke.
Looking forward to your sales on caredge.
❤Your awesome. Watching from Southern Cal.
I'm over 200k and my car is being held together with super glue and bubblegum. I'm trying to hold out till 2025 when the EV NACS conversion is further along, and the new LFP batteries are more common. If need be, i will buy a 4-5k car to run for a year or two. I love your business model and the integrity you operate with.
Learn from this old investment trader.... unless you need the inventory never EVER catch a falling knife of lower and lower prices.... it's enticing, I get it.... but as you know shitz just getting real....and all prices will go lower...watch!
Don't try and pick the bottom..... you can't and wont
Unless you flip them quickly, cars are losing asset value ..... SAVE YOUR CASH .... Unless you need inventory
Be choosey!
Alex is your cousin right he is a good dude to have around . Smart man. He is a keeper! Keep up the good work Brandon. We have a Lille guy like you in AJ AZ. WHO IS A GOOD GUY LIKE YOU. He does not gouge his customers. The place is called ARNOLDS AUTOMOTIVE.
Geez I am about to fly out to where you are and drive a car back to where I live. Dealers by me are still marking cars up way more than that. Definitely gotta keep leaning on them here.
I enjoy your show and the content you share. However, the ads are becoming excessive. I wish you luck and success in your endeavors.
I love the Malibu story. My first car ever was a 2003 Malibu that was owned by an elderly couple, it was in like-new condition except some scratches by the driver side keyhole due to their age and I bought it for like $3800 or something with super low miles. Drove it for 5 years and it got great mileage. Thankfully the head gasket was OK but every single time I got an oil change the mechanics tried to fraudulently tell me there was a problem. Like before I left to drive to the oil change shop I’d visually verify no moisture was present and I swear they’d drop water on there or something!
I find it fascinating you can buy about a third more cars at your low price point.
I currently have my 2018 in a bidding war between ford and chevrolet 😅 up to 53800 for trade in , I paid 54k 😅😂
The beat goes on .......
I pity the fool that’ll pay that much for a used car 😂😂😂😂
Auction savings does not equal retail savings
It's a gamble
Seems like dealers are going to keep the used car prices up as long as people are buying them at those prices. 🙃
I'm seeing some discounts on Mazdas 110 miles away but not where I live, they're still staying firm
yeah you helped me a lot in not buying a used car at all
I guess this agrees with the CPI report this morning.
Dealerships are holding inventory for lower rates. Inflation is (supposedly) coming down slowly and the markets are anticipating a rate cut in sept.
Lets go Brandon! Two meanings here folks
I can't believe you bought a Jeep Liberty
Believe it or not, people still want them 😂
5000$ or less lot some people would rather take the 10 year old 130k mile liberty over the 20 year old camry at same price
Can we go back to your Hertz Tesla video again for a moment: ??? Did you get offered the extended Gold or Platinum extended warranty's ? If you were not offered them I wonder why?
and if you were, what was Hertz asking in terms of the price?
MSRP new car prices need to also drop along with used cars bc you can't buy a new car unless you put a large amount down instead of financing it for 84 months. I would never buy a car/truck & have my payment higher than my monthly house payment was but I paid off my house in March when I ordered my new Honda. I only wanted one payment that had to be paid monthly beside house bills such as utilities & insurance, my house payment was $421 but I paid $450 a month including extra $29 in extra principal. My new car payment is $403 but I'm also paying $450 a month including an extra $47 towards principal, I did put $10,000 down along with $1,900 for my trade in. My interest rate is 4.9% for 60 months or could have had 3.9% for 48 months. But I'm also planning to pay my car loan off early in August 2025 once interest rates at my bank have dropped below 4.5% bc I have a small CD that matures August 2025 that's making 5.5% right now. No sense in renewing it if interest rates are in the 4% range at renew time, best to just pay my car off & be debt free except for monthly bills.
I really wish I could find some of these dropping prices that RUclips is always talking about.
Hello Brandon, I get my car news from your very informative videos. I am curious why you don't advertise your dealership, is this a youtube restriction?. I ask this because I am a retired person looking for a reasonable car. I live in NC Raleigh area and would like to visit your dealership. Is there anyway I can get your dealership address? I saw same address in google but these days we 100% can't trust google, hence asking you. Thank you in anticipation.
Over pay for any vehicle especially a new one, then add the avg annual tax bill of $1,200 to $1,900 depending where you live. The same re: homes. Screw yourself twice, while sales people and govmt loves the extra unearned revenue.
New cars = bad computer chips and plastic trash.
Are you selling them before they hit your website because there have been very few on there for a long time now?
How many when that chain goes out. I change my oil every 5000 miles not the 9000 to10000 miles like some people do. I have 42000 on it now. Thanking you in advance for your reply
I need advice please
I have a 2017 Mazda Cx5 it’s our only car (my fiancé and I)
The tires are dry rotted and almost bald, the brakes are at 20%, rotors are warped, control arms busted, A/C compressor going out - all according to the dealership.
Also, the car makes a clogged vacuum noise that no one can seem to figure out…it’s been going on for 2 years now and we’ve had multiple techs check it, they say there’s no issue in regards to that. The catalytic converter went out at 73k and was replaced.
We’re now at 86k. The noise sounds like an intake leak but again..no one can figure it out. I’m scared the new catalytic converter is going to clog up.
We don’t have the money to repair everything.. just the tires, maybe the brakes.
I’m going through Cancer treatment so, we’re bad off financially. I’m getting scared of driving this thing though.
We still owe $11,000 on it.
Should we some how try to get it fixed or try to trade? I was thinking Kia as they offer $0 down.
We really don’t WANT to go in even more debt.
Prayers for healing. Maybe start a go fund me? I'd go for a 0 percent before a 0 down. I wouldn't put any more money into the CX5. If you can fold it into another good car at 0 percent with a manageable monthly payment that might work even with a large amount of negative equity. Talk to a bunch of good sales guys and good managers at good dealerships. Stay away from the unethical sharks.
@@wikolib6821 thank you, I appreciate that so much!
Again you’re a nice person….
23:40 - if you've watched enough past videos, there have been enough clues between them to work out where his store is, etc. That said, there's no reason to share it if he doesn't want it shared.
I bought a cheap old Buick as a kid with a torn up headliner i swear must have been damaged by heels lol..
Brandon, where can a current used car buyer look to determine what a fair market value for any given vehicle? I am looking for a truck or SUV primarily for towing capacity and am comfortable with up to about $15k, but the prices I am seeing seem excessive, even when sellers are marking down vehicles with more than 6 months on their lots. Suggestions?
Market research. The more you look the more you can get a feel for what a vehicle is worth. Also, look for less tow vehicles that maybe lack an option everybody wants. Such as 2wd vs 4wd, manual windows on a crew cab or a v10 or 8.1L gasser. Ford Expeditions can tow 10k when properly equipped and have a limited appeal to consumers
So another video about used dealers buying up cars for mark up. Then is the price really dropping.
How do you market your cars? Craig’s list?
A year ago, an illegal driving with no insurance totaled out my wife's car. Before our new car was delivered, I bought a cheap- $5,000 Toyota for something just to get around. The new car came and I decided to keep the 2005 Toyota. Yeah, it's going up in value faster than Donald Trump's poll numbers. Life is good when you buy cheap old cars. My wife's new car btw is a 2024 Hyundai which actually drives pretty nice in case you are wondering and she's getting great gas mileage.
Let's go Brandon!
Please tell the mileage on the 08 TL. Im looking at one right now.
Friend of mine went to buy a 2022 Ford truck from a dealer. Mechanically it checks out, but it has a lot of dents and scratches, needs tires. Been sitting on the lot for three months.
Friend made a decent offer seeing the condition and knowing it’s been sitting for a while.
Nope, dealer wants their price, won’t budge. 🤷🏻 Don’t understand ?
So, looking elsewhere.
I work with a guy who bought a used hard f250 with high mileage from a stealership for 25000 because he could get it finaced for 5 years, it's already has rust on the fenders. As long as there are suckers like that prices will stay high. I bought a 2002 f 150 xtr for 7000 with 84000 miles on it. I've been driving it for 5 1/2 years now and should get another 3 or 4 before it succumbs to rust.
I'm also dumping while watching this video 😂😂😂❤❤
Brandon, you're being more ethical than the Sepreme Court is doing. And I wouldnt travel halfway across the country for a gold plated Hummer, yours or anybody's. (And shipping is almost always a bad gamble.🤨)
Is your inventory still low?
Do you post your inventory online?
We have a 2012 gmc acadia denali. It has 130,000 miles. We just replaced the compressor, condenser, radiator, battery and starter. The shop is saying it needs a torque converter, motor mounts and maybe something else with electrical. I just paid it off last november after almost 10 years of payments. I dont want another car payment. What do we do?????
It's a Chevy, that is routine maintenance, they are not made to last. Start saving for the repairs, knocking them out bit by bit. Change the transmission fluid, it might be enough to lengthen the life of the torque converter. Try to do some things yourself, shop rates are atrocious.
@@ImerzOnline we did all the repairs ourselves and it still had to go to the shop for the a/c stuff...we have always had problems with the a/c even when it went out of warranty gmc replaced it and gave us new warranty which is unheard of! I can't drive it...haven't been driven in like 2 months
A 200k mile car that cost $400 7 years ago and now cost $1,200 for a 300k mile car is rediculous...over 4x the price..who is making 4x more money from 7 years ago?
i could use a regular used car. wish i could get one
I think the market is going to get even worse before it gets better. The market right now is prime for your 5,000 and under business model. Most dealers that sell more expensive cars need to buy higher priced cars to make the profit margins they need. I bet your actually making more in profit, over all, than higher priced dealers. A lot quicker flips.
Take a shot everytime you hear “because”
Sounds dangerous for the liver, but probably a fun game 😂
Oh boy. . .
I think by September there going up a lot
It's hard to believe folks accept a sales contract for 7,8,9 hundred to1000$ a month for 6,7, or even a whopping 8 YEARS long for a CAR you simply drive. It's unbelievable to me.
some day these price drops will hit retail.
there not dropping here in Michigan
The satun vue has a 3.5 honda motor it it!!!!
300-350 a month……those are the magic numbers for me
The bottom hasnt been seen yet.. prices have not dropped like they are aout to..
agreed. by end of year there should be lots of deals to go around.
@@francisfiallos1654 2022 trucks for 10k or less hide n watch
@@francisfiallos1654 10k Newer model truck by then
Plus huge pop in silver prices
Sure hope you’re right.
Do not buy let the prices drop .
Miles
Pictures of the cars you buy please my friend. Would be more enjoyable, visual . Thanks for the video
I have a 2014 hyundai santa fe ~
61K miles i want to sell it but i want the best kbb price i’m the only owner
Isn't buying cars with prices dropping called 'trying to catch a falling knife'? Or buy stocks during the dead cat bounce? Good luck!
It's called inflation...
Then explain the dealer markups?
If you expect 700.00 car payments, add another 0 to our checks.
Don’t Give a crap about Tesla’s or any other EV .
Where r u located
I'm currently looking for a car etc around 5k.. Where is your lott?
Its in North Carolina.
More specific! Lol
Yeah I happen to live in NC but don't know the guy etc
THE RANSOMWARE COULD HAVE BEEN STOPPED IF THEY WOULD HAVE BEEN RUNNING THE OPENVMS OPERATING SYSTEM ...
Yeah.... Good luck finding developers to write a modern app on a VAX.
@@jrr851 What? Openvms now runs on x86 they finished the port last year ...
On my screen your face looks like it’s got an odd red sunburn. Is that just my TV, or your makeup or the lighting, or did you get a sunburn?
Gotta remember this stud is out in the sun a lot. You should see me after a 2 month surf safari.
Oh you're jumping back in way too early going to try to catch that falling knife are you
Enjoy your content but I gotta call BS on this falling prices thing. No falling prices in Central WI! I have been trying to get dealers to budge in this part of the USA but so far they aren't moving. I would be a cash buyer; write a check and drive out. I will continue to replace parts on our 1998 Buick Riviera and 2010 base model Corolla. Sounds like prices are better in Dixie?
Those are great cars. No reason to change. Late 90s to early 2010s was "peak car". Can only go down from there.
If you want to help us out, give us some recommendations for dealerships in Florida to shop at. Good day.
About 10 percent is a correction based on the inflated prices over the last 2 years. It is not doom and gloom. They are still priced higher.
SMELL NOTHING A OZONE MACHINE CANT FIX
WHERE IS THIS I DONT SEE THIS AT ALL.
Definately not Manheim
I call bs !
You dont want to be overwhelmed with customers buying your cheap cars?
I doubt your actually selling cars at low prices.
I’m not seeing the lower prices…
‘
Come on man now you know that's way too much money to be charging for that old a** Malibu. This is what's wrong with the car market of today. $3,500 for a 1999. GTFOH
Baloney