Now is a bad time to buy anything. Interest rates just too high. I paid 0% interest on a Jag in 2020. Now the absolute lowest rate with a credit union and 850 credit score is about 6%-7%. Fed is trying to control inflation which is always a futile effort. The pendulum swings every few years. It can’t be stopped.
This guy is a idiot that's so delusional he's telling people we all buy cars to look cool he's delusional people are just broke nothing will sell America is bad for the next 20 to 30 years go drive around half of Americans are homeless or almost
Smart move. As an older dude. Life is about decisions and that’s a good decision definitely spend your money wisely, invest if you can, and save some. Peace n blessings
We didn’t get “free money” during the pandemic. We got our own tax dollars returned to us instead of that money going to fix potholes or whatever else it is normally used for. So we could have it to spend which would not only help us get the things we needed but also support stores and restaurants and stimulate the economy. That’s why they’re called stimulus checks. It’s not free money. It’s OUR money. We just don’t usually get to spend it ourselves or choose what it goes toward.
They’ve spent our money in foreign wars and we are 30+ trillion in debt. All they did is print more money out of thin air and created more debt which lead to inflation. And 70% of that money they printed out of thin air ended up in the hands of big corporations. It was constructed and well executed plan in their eyes.
That’s not how it works or how it worked. Our gov has massive debt. That 814 billion in stimulus wasn’t simply allocated to us from taxes. Gov had to increase our deficit that year. Meaning they gave money they didn’t have. We are now paying for it or will pay for it in raised taxes and inflation.
@@wow956 this isn’t inflation. It’s corporate greed. You probably think trickle down economics works too and Trump’s tax break for the rich was a good idea and didn’t just add trillions to our debt that he said he was going to eliminate. Inflation only occurs when prices go up but profits don’t. This is actually just corporate greed. Just because they tell you it’s inflation doesn’t mean it is.
@@wow956yeah. The deficit increased because they gave our money back to us instead of using it for what they had originally budgeted it for. At least we didn’t go $9T in the hole giving tax breaks to the rich. Oh wait. We did.
Not to mention if the current dealers become service only centers. They gotta make their money somewhere! Out of warranty labor rate will shoot up to $350/hr, for your Chevy? Nah, No body will want that 😂
In Germany same thing happening. However I bought a Toyota GR Yaris and hope it will keep its value and not loose too much. Electric cars have been loosing so much in value it's crazy too. Used car market is going down, private sellers are more hesitant than dealers to drop prices.
I’m going to wait to buy my next car. I’m not cash buyer and the interest rates are just too damn high. Even when I was a very young adult with my first car loan, my interest rate back then wasn’t as high as the minimums today.
I'm in a similar situation, where I don't need a new car, don't want one, and I really, really like my B9 Audi A5 that I bought early on in the pandemic (spring 2021), just when trade in values were shooting up and the used car market wasn't on fire (I am still kicking myself for not jumping on the Macan GTS that I thought was too much at the time, but nonetheless happy with my Audi). I was 25, I managed to turn a considerable profit on my humdrum non-m/msport 2015 BMW 435i xDrive 2 door coupe, but got a really good low interest rate (1.9%) on a CPO A5 sportback with low miles and plenty of good options. A few months after I bought the A5, I moved to a big city with a good transport system, good for the US that is, and now I barely use my Audi it's still super low miles and I didn't go for an S5 or an RS5 because as fun as they were, and as much as I want one, the math wasn't mathing and interest rates for good credit buyers was already back above 3%. I'm about 2 years from my last payment if I don't pay it off early, and I owe roughly $1,000 more than what it's worth, but if I go for either a new or nearly new car, a hybrid, or an EV next I'll get a tax credit that'll take care of that $1,000 imbalance. And I did all that without even getting a stimmie check or a PPE loan, I got lucky and had good timing, and understood the cost of interest, and fundamentally, my worst case scenario from the start was getting told I wasn't approved for the Porsche or Audi, and then "having" to keep driving my nearly new BMW that I didn't want to sell.
It’s a good time to buy an EV if you’re wanting one. Chevy bolts are $10k-$15k used right now for solid ones which is crazy. Teslas I’ve seen as low as $16k!!! You can get a solid model 3 for under $24k and that’s before the tax credit.
I have been watching the Lexus LC500 for about a year. The cheapest LC 10-12 months ago you could find was mid 70s now you can get one for mid 50s I m waiting a little more because of the rates. When I get get a better rate I ll do it Me and my wife also just bought out a lease we had on a 2021 GLE53. The newer model was 20k more FOR THE SAME EXACT SPEC we had. So we said f no. Bought the car and in a few years when Mercedes and all manufactures take their a** whipping and lower prices again we may lease a car for the business again
@@jdesmo1 probably because of the year. The ones I seen in the 50k range are usually no earliest than 2019 Is there a specific reason you want that specific year? We know how reliable Lexus is, this is why I m completely ok buying a used one
@@jdesmo1 no ish! Good to know Where do you live? I like the convertibles but only with the top down lol I do live in FL so I could get one but I LOVE the lines of this car w the roof on I wish the top was a hard top not soft
I bought a GR86 last summer, and I put 50% down on it and the dealership I purchased it from, did not like it at all for whatever reason. They did not charge me over MSRP, so my loan amount wasn't that high for me being a college student. The GR86 market was absolutely crazy a year ago and still is today. The GR86 is a $32,000-ish car and they were selling for nearly $40,000 with miles on it. They still are selling at MSRP or even higher in some cases with miles on them. I feel like dealerships aren't going to stock cars anymore for the next few years, but who knows what will happen in the future. I believe that the automotive boom where everyone got new cars was because during covid, most Americans couldn't spend their money like they usually could, so they held onto their money which they later spent on new cars. I think things will get back to normal in the next few years, but I think what Rivian / Tesla have with directly selling to consumers and eliminating the middle man is a very good solution. But my question is how would that work for cars from foreign manufactures that would use this selling strategy? Brands like Porsche already have most every car that they got spoken for, but what about brands like Toyota and Subaru that make their cars in another country and get shipped here? How would they directly sell to the consumer? What makes sense to me is have a few big "distribution center"-like facilities that would distribute them out that is owned and operated by Toyota and not a middle man like a dealership is.
But as far as the market around me, I live in Indianapolis so there isn't a vast population with money here like in California. But by where I live, there is quite a bit of money out in Zionsville / Westfield. I bought my GR86 to keep since it's special to me and in my opinion will be special in the future, but with the majority of people that are buying cars now, I think people are going to own there cars for much longer than previously since car prices have gotten so much more expensive. I think that during/after covid, auto manufactures realized that people WOULD spend more money on a car so they hiked up the prices just because they can and know that they will still sell. It's a confusing mess that has a lot of moving pieces, at the end of the day I'm just 20 so what do I know. Just my opinion!
The dealer model is not going away Alejandro. The manufacturer is in business to design, produce, and sell the cars to their independently owned dealers. They set them up with a line of credit and keep shipping them cars which the dealers must take whether they want them or not and they get paid immediately whether that’s the hottest vehicle on the market or the biggest turd ever. The manufacturer is also excluded from having to deal random things from trade ins, fraud that dealerships experience, registering cars and dealing with DMV issues, staffing, servicing, storing parts, etc, etc. Long story short is there is a reason why they do it this way and why this is the way, like it or not, it will continue to be done and why many states do have laws against Tesla and the few other companies that try to by pass this setup.
We are back to a regular car market. thing is, they are inflating the dollar to the point the buying power of the dollar has lost 25% of the its buying power in the last 3 years.
12:55 Why aren't you telling the ignorant masses (if you knew it) that the so-called "bailouts" are actually loans with interest? The government actually made some millions on the infamous "bailouts" of 2008 - which were wholly returned, with the interest.
2008 they were paid back with interest. The 2020-2021 "stimulus" was all just helicopter money. PPP loans were forgiven, children tax credits, student loan forbearance and forgiveness, mortgage and rent forbearance, utility payment forbearance, enhanced unemployment, the Employee Retention Credit that went on for 4 years.
Stalantis is giving huge rebates on 2023 Jeep products. I just got $20k off a Jeep Gladiator. If anyone is severely upside down in their vehicle here’s your way out!
We are paying for that “free money “ with inflation. Give rose the deficit for that money. Money we didn’t have. Trump also passed a bunch of tax breaks, guess what those expire. It will be Time to pay those back as well. Taxes will go up.
GM USA has its own financing arm and they are offering rates under 5% so you are wrong about that, the high rates dont apply to them much. You can get 1.9% on the Blazer, do some research on the site before making videos.
Your correct GM is offering incentivized rate, which they have been doing for the past year. However that is at a 36 month term. If we use the example of a Blazer, let's say a well equipped Blazer RS with a sales price of roughly $49,000, with out factoring in interest or taxes at 36 months with $0 down your at $1361 a month. Not many people want a $1k plus payment on a Blazer.... when that was the payment of a Sierra 3500 denali pre covid with 0% for 72 - 84 months
Didn't even touch on state franchise laws, which is the elephant in the room. Peanuts compared to the problems you touch on. Until you change the state franchise laws, everything you said is meaningless. Consolidation will continue to happen to larger group, but DTC isn't going to happen
Get rid of car manufacturering sindicates. Cut taxes on american manufacturing and don't get rid of dealers. Don't allow Chinese crap get into the us and we'll be fine
Sorry, not impressed with your analysis. Using your Tesla and Mach E as examples is foolish. Electric vehicle now depreciate way worse than ICE cars as general rule. Can't even compare.
Hey salomondrin, as a long time follower, I gotta tell you, that I love those types of videos. Keep them coming!
Now is a bad time to buy anything. Interest rates just too high. I paid 0% interest on a Jag in 2020. Now the absolute lowest rate with a credit union and 850 credit score is about 6%-7%. Fed is trying to control inflation which is always a futile effort. The pendulum swings every few years. It can’t be stopped.
As a car guy, I have some project cars and I'm 21 but I wont buy a new car until I buy and fully pay off my house
as a guy that baught a c63 at 21 i love reading this smart man
This guy is a idiot that's so delusional he's telling people we all buy cars to look cool he's delusional people are just broke nothing will sell America is bad for the next 20 to 30 years go drive around half of Americans are homeless or almost
Smart move. As an older dude. Life is about decisions and that’s a good decision definitely spend your money wisely, invest if you can, and save some. Peace n blessings
Always appreciate your insights man
We didn’t get “free money” during the pandemic. We got our own tax dollars returned to us instead of that money going to fix potholes or whatever else it is normally used for. So we could have it to spend which would not only help us get the things we needed but also support stores and restaurants and stimulate the economy. That’s why they’re called stimulus checks. It’s not free money. It’s OUR money. We just don’t usually get to spend it ourselves or choose what it goes toward.
I can’t speak for everyone but I would have made a lot more money if I’d been working than I received in stimulus checks.
They’ve spent our money in foreign wars and we are 30+ trillion in debt. All they did is print more money out of thin air and created more debt which lead to inflation. And 70% of that money they printed out of thin air ended up in the hands of big corporations. It was constructed and well executed plan in their eyes.
That’s not how it works or how it worked. Our gov has massive debt. That 814 billion in stimulus wasn’t simply allocated to us from taxes. Gov had to increase our deficit that year. Meaning they gave money they didn’t have. We are now paying for it or will pay for it in raised taxes and inflation.
@@wow956 this isn’t inflation. It’s corporate greed. You probably think trickle down economics works too and Trump’s tax break for the rich was a good idea and didn’t just add trillions to our debt that he said he was going to eliminate. Inflation only occurs when prices go up but profits don’t. This is actually just corporate greed. Just because they tell you it’s inflation doesn’t mean it is.
@@wow956yeah. The deficit increased because they gave our money back to us instead of using it for what they had originally budgeted it for. At least we didn’t go $9T in the hole giving tax breaks to the rich. Oh wait. We did.
You look with the mustage like super mario 🙂
I came here to say the exact same thing
You dont type well
Actually I thought the same thing 😂
Not to mention if the current dealers become service only centers. They gotta make their money somewhere! Out of warranty labor rate will shoot up to $350/hr, for your Chevy? Nah, No body will want that 😂
True, it would be cheaper just to get extended warranty!
In Texas every dealer is flooded. They are offering crazy deals too
In Germany same thing happening. However I bought a Toyota GR Yaris and hope it will keep its value and not loose too much.
Electric cars have been loosing so much in value it's crazy too.
Used car market is going down, private sellers are more hesitant than dealers to drop prices.
Dude so happy LTACY is back
the angle youre filming at in the Cybertruck looks awesome
Is it time to buy a new car? Well, it depends. Did Belen get her Ferrari Purosangue?
I'm so lucky ...I don't have to work till I die and my kids of their kids will still be left ..😅
I’m dining in this summer! It’s a great time to buy outside of interest rates. I’m cashing out!
Salomondrin Great Video I definitely agree that Car Market is crazy and people should be careful with Car buying
Many trucks arriving here the cars are already sold. The EVs not so much here on the Gulf Coast.
I’m digging the dirty sanchez
Hit it Sergio! 🎶
I’m going to wait to buy my next car. I’m not cash buyer and the interest rates are just too damn high. Even when I was a very young adult with my first car loan, my interest rate back then wasn’t as high as the minimums today.
@Alejandro what you think about Chevrolet Silverado ev RST … 440 miles range
I have a 21 Yukon that I bought for 66k at MSRP in June 2020. Same truck same features is 78k msrp. I’ll wait for it to continue to crash
I'm in a similar situation, where I don't need a new car, don't want one, and I really, really like my B9 Audi A5 that I bought early on in the pandemic (spring 2021), just when trade in values were shooting up and the used car market wasn't on fire (I am still kicking myself for not jumping on the Macan GTS that I thought was too much at the time, but nonetheless happy with my Audi). I was 25, I managed to turn a considerable profit on my humdrum non-m/msport 2015 BMW 435i xDrive 2 door coupe, but got a really good low interest rate (1.9%) on a CPO A5 sportback with low miles and plenty of good options. A few months after I bought the A5, I moved to a big city with a good transport system, good for the US that is, and now I barely use my Audi it's still super low miles and I didn't go for an S5 or an RS5 because as fun as they were, and as much as I want one, the math wasn't mathing and interest rates for good credit buyers was already back above 3%. I'm about 2 years from my last payment if I don't pay it off early, and I owe roughly $1,000 more than what it's worth, but if I go for either a new or nearly new car, a hybrid, or an EV next I'll get a tax credit that'll take care of that $1,000 imbalance. And I did all that without even getting a stimmie check or a PPE loan, I got lucky and had good timing, and understood the cost of interest, and fundamentally, my worst case scenario from the start was getting told I wasn't approved for the Porsche or Audi, and then "having" to keep driving my nearly new BMW that I didn't want to sell.
You look like Mario
More like Yoshi
Salo, what happened with the podcast? it was really nice!
What do you think about the used car market? Especially with Sports and Supercars?
I work at Mercedes Benz in Miami Florida and we have basically no inventory 😅
It’s a good time to buy an EV if you’re wanting one. Chevy bolts are $10k-$15k used right now for solid ones which is crazy.
Teslas I’ve seen as low as $16k!!! You can get a solid model 3 for under $24k and that’s before the tax credit.
Does this only apply to the new car market for these dealers being screwed or does this also apply to the used car market as well?
Used car market too tbh. Theres tons of cars just sitting on the lot vs a few years ago when lots were empty
In Poland, car prices are just skyrocketed together with bank interest rates😂
Hold on to your rare specs folks.
whats the interest rate for car loan right now?
Yeah I work at dodge jeep ram Chrysler and we have sooooooo much inventory is insane
I have been watching the Lexus LC500 for about a year. The cheapest LC 10-12 months ago you could find was mid 70s now you can get one for mid 50s
I m waiting a little more because of the rates. When I get get a better rate I ll do it
Me and my wife also just bought out a lease we had on a 2021 GLE53. The newer model was 20k more FOR THE SAME EXACT SPEC we had. So we said f no. Bought the car and in a few years when Mercedes and all manufactures take their a** whipping and lower prices again we may lease a car for the business again
I'm also on the lookout for a 2022-2023 LC. An L-Certified convertible are asking 80-90K. Still crazy high
@@jdesmo1 probably because of the year. The ones I seen in the 50k range are usually no earliest than 2019
Is there a specific reason you want that specific year? We know how reliable Lexus is, this is why I m completely ok buying a used one
@@UrbanBDKNY Convertible started in 2021, and I don't want first year of anything
@@jdesmo1 no ish! Good to know
Where do you live? I like the convertibles but only with the top down lol I do live in FL so I could get one but I LOVE the lines of this car w the roof on
I wish the top was a hard top not soft
🎉🎉🎉
You remind me of Lalo Salamanca
I bought a GR86 last summer, and I put 50% down on it and the dealership I purchased it from, did not like it at all for whatever reason. They did not charge me over MSRP, so my loan amount wasn't that high for me being a college student. The GR86 market was absolutely crazy a year ago and still is today. The GR86 is a $32,000-ish car and they were selling for nearly $40,000 with miles on it. They still are selling at MSRP or even higher in some cases with miles on them. I feel like dealerships aren't going to stock cars anymore for the next few years, but who knows what will happen in the future. I believe that the automotive boom where everyone got new cars was because during covid, most Americans couldn't spend their money like they usually could, so they held onto their money which they later spent on new cars. I think things will get back to normal in the next few years, but I think what Rivian / Tesla have with directly selling to consumers and eliminating the middle man is a very good solution. But my question is how would that work for cars from foreign manufactures that would use this selling strategy? Brands like Porsche already have most every car that they got spoken for, but what about brands like Toyota and Subaru that make their cars in another country and get shipped here? How would they directly sell to the consumer? What makes sense to me is have a few big "distribution center"-like facilities that would distribute them out that is owned and operated by Toyota and not a middle man like a dealership is.
But as far as the market around me, I live in Indianapolis so there isn't a vast population with money here like in California. But by where I live, there is quite a bit of money out in Zionsville / Westfield. I bought my GR86 to keep since it's special to me and in my opinion will be special in the future, but with the majority of people that are buying cars now, I think people are going to own there cars for much longer than previously since car prices have gotten so much more expensive. I think that during/after covid, auto manufactures realized that people WOULD spend more money on a car so they hiked up the prices just because they can and know that they will still sell. It's a confusing mess that has a lot of moving pieces, at the end of the day I'm just 20 so what do I know. Just my opinion!
YOU AND VEHICLE VIRGINS ARE BEEFING?!?!😵 Just jokes, I thought at least someone had to be a fool and say it🤣🤣🤣
The dealer model is not going away Alejandro. The manufacturer is in business to design, produce, and sell the cars to their independently owned dealers. They set them up with a line of credit and keep shipping them cars which the dealers must take whether they want them or not and they get paid immediately whether that’s the hottest vehicle on the market or the biggest turd ever. The manufacturer is also excluded from having to deal random things from trade ins, fraud that dealerships experience, registering cars and dealing with DMV issues, staffing, servicing, storing parts, etc, etc. Long story short is there is a reason why they do it this way and why this is the way, like it or not, it will continue to be done and why many states do have laws against Tesla and the few other companies that try to by pass this setup.
We are back to a regular car market. thing is, they are inflating the dollar to the point the buying power of the dollar has lost 25% of the its buying power in the last 3 years.
I hope dealers don't disappear, and hope Chinese never come here
Heeeeeey🎉
Sell to the consumer through a dealer with a commission fee.
12:55 Why aren't you telling the ignorant masses (if you knew it) that the so-called "bailouts" are actually loans with interest?
The government actually made some millions on the infamous "bailouts" of 2008 - which were wholly returned, with the interest.
2008 they were paid back with interest. The 2020-2021 "stimulus" was all just helicopter money. PPP loans were forgiven, children tax credits, student loan forbearance and forgiveness, mortgage and rent forbearance, utility payment forbearance, enhanced unemployment, the Employee Retention Credit that went on for 4 years.
What is that dirt on your lip?
China charges close to double the price for imported cars, the Western markets should do the same for Chinese cars.
hi mario
🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪💯💯💯💯💯💯💯💯
Where’s Luigi?
Stalantis is giving huge rebates on 2023 Jeep products. I just got $20k off a Jeep Gladiator. If anyone is severely upside down in their vehicle here’s your way out!
Lol
Ayyooo we got Mario !
Get another Rolls, my friend.
Went from being one of the best car focused non-review based youtuber to now just clickbaiting
Hope you find your rhythm man!
You think he needs to upload videos? Enjoy the free content
He doesn’t, which doesn’t matter. Just loved his content before and it fell off. Why are you hurt?
@@StreetfighterMTL yeah im obliviously the hurt one😂 gonna need some therapy after all this hurt, i may need to “fInD mY RHytHm” man
@@kndli67 I hope you do chunky man ♥️
@@StreetfighterMTLRelax girlfriend! He puts out free car related content that you obviously subscribe to. Hahahaha
Ninsense
You lost it bruv, paying more for less is better?
Uk car prices have fallen slightly on ice cars, evs have plummeted. House prices are not falling unfortunately as I’m in the market as a cash buyer
Quit buying electric i have a 07 mazda 97000 miles 40 bucks 87 gas ...
We are paying for that “free money “ with inflation. Give rose the deficit for that money. Money we didn’t have. Trump also passed a bunch of tax breaks, guess what those expire. It will be Time to pay those back as well. Taxes will go up.
First view
GM USA has its own financing arm and they are offering rates under 5% so you are wrong about that, the high rates dont apply to them much. You can get 1.9% on the Blazer, do some research on the site before making videos.
But rates under 5% are still much higher than the 0% APR for 72 months plus cash incentives like GM used to advertise! Hahaha 😂
On a blazer 😢
Your correct GM is offering incentivized rate, which they have been doing for the past year. However that is at a 36 month term. If we use the example of a Blazer, let's say a well equipped Blazer RS with a sales price of roughly $49,000, with out factoring in interest or taxes at 36 months with $0 down your at $1361 a month. Not many people want a $1k plus payment on a Blazer.... when that was the payment of a Sierra 3500 denali pre covid with 0% for 72 - 84 months
Didn't even touch on state franchise laws, which is the elephant in the room. Peanuts compared to the problems you touch on. Until you change the state franchise laws, everything you said is meaningless. Consolidation will continue to happen to larger group, but DTC isn't going to happen
Get rid of car manufacturering sindicates. Cut taxes on american manufacturing and don't get rid of dealers. Don't allow Chinese crap get into the us and we'll be fine
you were not offered 300k for the G....come on bro
Sorry, not impressed with your analysis. Using your Tesla and Mach E as examples is foolish. Electric vehicle now depreciate way worse than ICE cars as general rule. Can't even compare.
I was going to comment exactly what you said
No