Used Car Market Update
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- Опубликовано: 24 июл 2024
- Used Car Market is crazy. Luxury Cars are down Cheap Cars are going Up
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Lucky is obviously going thru hard times. Picked up that shirt at good will for $3
It was $14 from amazon 😁
He paid extra for the oil spots!!
was a extra $1.50
It looks like he is wearing a bib 😂
Chinese size
EV'S are finally filling the role they should have been from the beginning. Cheap errand runners and daily drivers that run the same route daily. Not $100k luxury vehicles.
Facts!
EVs will do both roles. They are wonderful luxury sports vehicles. Yet they thrive on daily commute and errands. Last summer, Tesla's were easier and more fun to road trip than ICE.
definitely, I put my 2022 Tacoma on carvana for an estimate, and each week they offer $800 more for the past 3 weeks, your reasoning is spot on
Lots of trucks are losing 2 cylinders and adding turbos, so that is probably why the used truck market is stronger than the new truck market.
💯 that’s why I recently bought a Ram at a big discount before they replaced them with v-6 turbos that I didn’t want.
A guy was saying brand new Tundras are all 4 cyl turbo. It is the government fuel savings laws.
@@timsteinkamp2245 Tacomas are 4 cyl, Tundras are 6cyl
@@theredscourge Sorry, I figured I had that backward but was too lazy to research it. I thought he said though that many of the larger trucks came with the turbo 4 also. He was at a Wyoming dealer with a line of new trucks in the $40,000 - 50 price range. They do look good.
The turbo thing is one of the reasons. Another big reason is that a mid spec 2024 tacoma is 58k+ OTD. Thats insane.
Great subject. Many rather drive their rides into the ground than buy a new vehicle at these prices 😮
Very true
230k miles on my impala finally becoming unreliable and now I am finally seeing what's on the market
That's what I'm doing
I am definitely one of those people. 🎉
Similar, 2012 Honda CRV with over 82,000 miles.
I love the tee 😊. My father was an accountant for Gulf in the 50s-70s. Nice info as per the usual.
you are the first one that liked it. you have good taste 👍
My grandfather went to work for "the Gulf" in the early 1920s when he came home from WWI and retired in 1960.
The shirt acknowledgment was a solid decision.
People's entire outlook on cars needs to change. You should only buy a luxury/high end car if you can pay for it in cash. Going into debt to buy a high end car is ludicrous. If you are meeting people who are judging you because you aren't driving a $150,000 car you are associating with the wrong people.
I haven't made a car payment in over 10 years and I don't plan to start. Not having that albatross around my neck is a much nicer feeling than driving a brand new expensive car.
Well said
Same here, no car payment for 14 years and still driving my 05 crv bought new now with 197k miles.
Only what you can pay cash for in my opinion
Merikans are dumb.
TBH I think there are a lot of people who lease those via their businesses if they're business owners & can write it off. There's a whole different approach to a lot of these types of vehicles too. Ditto certain pickups too. Your point stands of course; I do think there are plenty of people that 'see' it and want it for whatever reason despite it not being feasible.
As a young adult saving for my first car, everyone keeps saying to wait it out and to not get into auto debt but the under 5k car range is so bad that I don't see driving as something I can afford to participate at all right now. None of my friends see the point in getting a driving license because we can't afford cars ourselves and our parents can't afford to add us to their insurance.
Dumb question, have you considered motorcycles?
Nothing wrong with a small amount of debt that you can easily afford. If you can afford all your expenses and still add a 100-200$ car payment and easily pay 2x every month, why not?
A really nice mazda3 runs around 19-22k. 10k down.
A decently equipped VW Jetta 1.5t also runs around that price.
Try looking for a used Toyota Matrix
Not sure what type of car you are looking for but I just did a quick search on Facebook marketplace and found a 2013 Honda Civic Si sedan with 95k miles for $4,500. Don't let the milage scares you, those particular models have a good reliability record. I myself had bought a 95 Acura Integra (Honda division) with 100k miles for $7,600 in 2001 when I was a young adult and it has been a great reliable car that has been fun to drive. I still have the car as my daily beater with 276k miles.
Don't expect first car to be some kind of "style statement" to show off to "friends", there are affordable cars [used Corolla/Civic] that are not "status symbols". Seen too many get used luxury cars because they "had to have one" and get huge repair bills.
Someone is throwing their money away if they buy a Fisker anything.
$$$$
Lucid…
Lucid is burning through Daddy Saudi's funds. Fisker is toast.
Tesla is the safe bet and as the video noted, buy used.
The classic car market sure isn’t going down. What people’s are paying at Mecum & Barrett is crazy…
You’re the best car dealer on RUclips your content is on point. Telling it like it is and brutally honest about the full size pickups and EVs
From an economic standpoint, EVs don't make sense. I looked at a Plug-in Hybrid RAV4; the savings on gas vs. the extra cost vs. a regular hybrid would have taken me 26 years to break even (at gas prices of $3.30) a gallon. Gas would have to be at least $9 a gallon to make sense from a financial standpoint. It's true that, eventually, we will have to switch to electric cars in the future, but it has to make sense not only from a financial standpoint but reliability as well.
There is a reason why the biggest EV market is in California because gas prices there are absurd.
im my area, if you had 20 80s & 90s pickups, you could sell them in 2 months.people are sick of being milked by the automakers & dealers, & want the easy stuff where you dont need a 800$ scanner to reset the electric parking brake.
It might stat to be worth it to restore older trucks and modify them with a few modern amenities.
I live out here in Las Vegas, and you have been spot on. I usually buy and drive cars for only 6 months to a year. I have stayed in front of the curve, thankfully 😊
This channel should have 1 million PLUS subscribers! Great words of wisdom. .... (and, fantastic T-shirts)
Facts!!!! thanks for the kind words
Full size trucks are stacking up. I think the deals will get screaming this summer
full-sized trucks are a bad economic proposition
Overpriced mid-sized ones are beginning to stack up too. Who wants to pay $50K for one?
People know a Turbocoma / Turboundra / Turbounner isn't going to last as long.
I was looking for a used truck to haul things around for home projects. I looked at Tacomas and Tundras and a lot of the used Tacomas were more expensive than the Tundras. That made it easy for me to go with the full size truck since it wasn't going to be my daily driver anyway.
cool shirt!!! very retro, brought me back to the 70's (one of my favorite decades...strange as it might be...)
Another great video. You are my favorite auto industry guy.
I’ve been in the market for a couple mid 2000s Lexus v8 and they have luckily been dropping in price almost daily
Great vid Lucky! I think the previous generation of Tacomas is going up because of the V6 vs 4 banger turbos
Used Car Dealer in Northeast College Town: 27 cars between $7000 and $27,000. May is a big month for us because students need a car upon graduation for new job/internship.
Like Lucky we were able to accumulate economy cars, currently have 11 cars between $7,000 and $11,000. Starting to get phone calls and visits of people inquiring about cars. Have more economy cars being worked on in the back.
Our body shop and repair shops are still humming as people are choosing to squeeze the life out of their car for as long as possible.
We have lost sales as 1st time car buyers are shut out as it is too expensive to get on parent's insurance policy.
We still get phone calls once or twice a week for the $3,000 car which we get once a year and is gone in two days. Meanwhile our trucks are still sitting.
Same thing here- big 1500 size trucks seem to be reasonable deals but then the small/mid sized trucks are within 5k of the full sized trucks for similar year & mileage
Same way here in East Tennessee on buying cheap cars definitely small trucks. I have been looking for one crazy prices!
I was looking at a newer Mustang 5.0 just for something fun to drive and I came across a gorgeous 99 Mustang GT manual transmission car with 70,000 miles for under $9,000. I went and bought it. I’m very happy with it. I got a great deal.
Nice perfect cars for donuts
My grandpa bought a 2001 Tahoe for $5k about 10 years ago. He gave it to me and its sat for years. Still runs and drives. When I took it to the dealership they were going to give me $6700 for it
Doesn’t surprise me. I just looked at a 99 Tahoe with 160k miles but well maintained priced at $5900.
I’ve owned 5 Tacoma 4x4s over the last 15 years, driven them all pretty hard, and over all I’ve about broken even. It’s amazing the way they hold their value and they sell pretty much instantly.
$$$$$
Which is no longer true these days because of the insane MSRP hike Toyota did on the new 24 Tacomas and how some dealers (like mine in FL) has 60+ of them and has barely any other vehicles.
Yesterday in Carmax auctions in Florida they sold a 1994 RAV4 with 174k miles for $2,700… and a 2014 Camry for $14,000 the car market here is absolutely ridiculous I sent pictures to all my friends they couldn’t believe what they saw
The Camry has 10-15 more years in it
How do I get to this auction?
Just picked up a new 2023 XLT f150 for 23% off msrp. I paid less new than what people are trying to sell lower kms used for. It’s going be a blood bath
Nice thanks for sharing
@@LuckyLopez777 thanks for the reply lucky, what are you see for f150 discounts in your area? 24’s don’t have much, maybe a few thousand but that’s to be expected.
Tell me where you bought it that cheap so I can buy one
@@steven2257 northern Alberta. 11,000 off for cash purchase and an additional 6000 for x plan
@@steven2257Because it didn’t happen. It’s the internet
Thanks for a great video. I learned a great deal. Carry On Sir!
Love this no bs videos with somebody that actually knows what is talking about.
LOVE the shirt!!!
Toyota dealer near me has around twenty, 2023 Camrys on the lot all with 20k miles or less. All the cars are listed as rentals on the carfax and have been at this dealer since February. One of them if paying sticker came to $26,900 out the door. I offered $25k. They turned it down and I walked.
Im sure they will call you back
@@LuckyLopez777 no they won’t. With the government push on EV mandate, prices of gas Toyotas are only gonna go up
@@KHAN-gg3xbGood luck about that lol
@williamcricket7931 The resale on cars goes up one time, and now people think that is normal. Who in their right minds can believe a car is going to go up in value?
@@pharag4886literally, the amount of carmax emails ive gotten about my truck jumping up and then dropping down and then jumping up again like 5k every time within the same month has my mind blown. i bought this shit at the bottom of the depreciation curve and its a 2016😂 this whole market is speculative
Thanks for touching on the exotic car market. Always find that one most interesting.
It's been over a year now, a dealer in Lewiston Idaho has a 2003 street legal golf cart they were asking at the time $8K I offered $4,500 this is after it has already been on their lot for 6 months. They said No fast forward to today they still have it and they have only lowered the price just below $7k, they also have a Tesla that has been sitting on their lot for at least 3: months that I know of
OMG! What an guly fitting Tshirt
Biggest thing for me, I don't see dealers who buy these used EVs passing on those saving to buyers.
I agree Lucky. My son has a 1998 Ford Ranger that people are leaving notes on it asking if he wants to sell it.
That shirt is a classic.
I remember back when Gulf was bought out.
Used trucks are mostly stupid expensive right now. The one value I have noticed is F150's with the normally aspirated V6 3.7L. Low mile trucks (30K to 50K miles), 2014 ish model year, extra cab, 4WD, 6.5 ft bed go for $11K to $15K at Government Service Vehicle auction. This is NOT a truck you can tow heavy loads with!!! However, it will be great for HD or Lowe's runs, etc...
Last weekend I finally upgraded sold my 06 infiniti g35 coupe. Picked up a 2020 haundai veloster N manual 23k OTD 50k miles real happy with my choice
Crash is definitely the right word bro. ✌️
Gulf, I haven't seen one of those since the 80s lol.
going to paint my mustang with the golf colors
Hi Lucky, 🙋🏻♂️I watch all your content on RUclips. I love your vidoes on current used car market and that’s at a national level. I’d to see you make content on guys like me can learn how the current market (St. Louis) is doing. I own an independent Dealership with a service dept. In my service dept I have 2 techs 1 advisor. I’m the only employee for my sales dept. I’d love to know how to learn what to buy and what to stay away from in my market. Please make a video on we can do that. Keep Up Content!
My man dressed up as Gulf livery for this video. 🔥🔥🔥🔥🔥 love that!
Great video, useful information
Tbh I saw a tesla model S with 50k miles for 17k, I was kinda tempted to get it.
Supply greatly exceeds demand. I predict the EV market will shrink, not expand.
I’m a small dealer I don’t sell any car at this moment over 10k I’ve been doing great my sweet spot right now is 5-8k
Craig from "Flying Wheels" lost a ton of money on an Audi EV,
This makes me so happy I sold my 2018 accord for 2k over what I paid for it last year. I invested the majority of the money and bought a 2007 Camry for 5k. I’ve only had to do oil changes *knock on wood* so far and the thing still runs like a gem.
Would be intersting to see a second owner try to get warranty service on their Fisker.
Some good advice, brother...what looks good on a GT40 does not make for a good T shirt...Rock On!
The 15k statement is insanely true.
We were looking for a “beater” SUV under 15k and the inventory is AWFUL. Bunch of beat up junk for overpriced. We ended up getting a 2024 RAV4 under MSRP.
Also, fun fact, our 2016 Mustang 3.7L A6 is going up in value with 84k miles lol. We were offered 15k for it, we kept it though.
What was your discount off of MSRP?
@@bella3008 about 2k, unfortunately you won’t get a huge discount on RAV4 XLE premiums.
But I traveled 4 hours for it. Exactly what we wanted with no add ons, no crap, no doc fee, just a discount, taxes, APR buy down and out the door in 20 minutes.
@@ChrisFromFloriduh Thank you for sharing the details. Do you know any way to get some Florida weather to Cleveland Ohio?
@@bella3008 hahah I used to live in NE Ohio before removing to Florida so I know what you mean. Although, we are getting a heat wave down here so it’s 91 here and going to be 95 tomorrow 🫡
@@ChrisFromFloriduh Its still not hot enough here. I hope it gets into the 80s soon. We live in Cleveland because of employment. There is a Cleveland Clinic in Florida too, we will see after 2 more years.
Good reliable car that people sleep on - early 2000s buick lesabre with the 3800 engine. Those things are bullet proof. Some of the other stuff breaks but those engines are legendary
that motor is built proof. I has a 96 buick riviara. 300k miles. ran great. should have kept it
Had a used car lots and those cars are nightmares not bulletproof
Love the shirt and the channel
Thanks for the update Lucky. I think people are insane for financing cars that cost almost as much as they earn in a year. The old 50% max of your annual income still makes a lot of sense to me.
Great video bro.
I still drive a 2003 Nissan Armada on weekends.
Still have a 2011 vw golf tdi. 250km strong.
What you think in a challenger scat pack is it good time to buy or wait ??
Fiskar just stopped production so good luck on support and or parts!!! Doesn't matter how cheap the used ones are!!
regarding tacomas - the move to 4 cylinder engines in the new taco is making a lot of people look at the older ones with 6 cylinders. No matter how much forced induction hybrid voodoo nonsense you toss at a 4 banger - its still a 4 banger.
Been seeing Hyundai Ioniq 5s piling up in local dealerships with some being on the lot for 180+ days. There are some crazy lease incentives on them right now. What is an attainable discount that could be had on the selling price of a Ioniq 5 Limited AWD that has a MSRP of $59K?
Nice Casioak!
That shirt is badazz !!!
Hey Lucky, I got a good used Ford Ranger for you here in Las Vegas for a cheap price. How do I contact you?
Hey Lucky I am currently looking at 09 and up gallardos and 5.2 R8, I see that they are cheaper than a year ago. Would buying one now be like catching a falling knife.
not if you buy a manual they are going to go up
Good think I wasn't looking to sell our Model 3 or GLE. Now I just need the 911 market to come down.
Wow, i'm glad i picked up my car when i did.
You and me both!
Probably actually a great time to buy a NEW vehicle. Problem is no one has any cash anymore
Thanks! What’s the outlook for used bentaygas and g63s?! Do those depreciate like the luxury SUV segment?!
bentyeags will go down. but G wagons because they are over 6k lbs they will be the same because of tha tax write offs
@@LuckyLopez777thank you
Saw that shirt like 60 times in a Sanyo Domingo hood😂😂
Seems to be the same situation in Canada. Used cars under CAD 18,000 have started to move fast of the lot
You are absolutely right...that shirt is terrible. What did you say about the cars?
end of this year is going to be crazy
@@LuckyLopez777 lmao, lucky still kind after catching strays
@@whitejodeci8926 Nah. I like Lucky and watch his stuff. I just couldn't resist with that shirt.
I’m waiting to buy a slightly used Porsche 911. Hoping/waiting for them to come down some more.
I bought a 2013 impreza 2.0 from The auction 2k otd. I out 700 into it on maintenance items. Clear title. Seen them go now for 5500$ so imma let it go.
Hey Lucky, what cities/states are newer/ new trucks going for less than others??
My local BMW dealer told me the business is booming, no sign of slowing down at all. I live in MI.
Oof. The 01 1zzfe had that oil burning issue, i had an 01 Celica with the same engine.
I lease my car's @ $250/month max, and I don't have to worry about fixing anything, plug in charge for free during the lease life, tire rotation, and go. If the car drops 65%, I don't care, that's the car manufacturers problem selling it at auction.
Insurance is cheaper with new cars due to all the nanny features, so overall, a safer car for the insurance companies = cheaper rates. Only thing is the registration costs on a new car.
Hey, I like the shirt!
Done watching ❤
Just bought a 2022 year old Tesla model 3 long range with 40k miles for 24,995 from a Chevy dealership in Pennsylvania, received the 4,000 dollar tax rebate on the spot then was hit with a 1,950 dollar dealer fee, 950 dollar LoJack fee and 1,100 ceramic coating fee, after walking out then coming back 5 minutes later realizing that it was the exact car we wanted they took off 500 dollars so with tax and title fees the grand total out the door was 28k, not the best deal also not the worst either however we paid cash on the spot making me feel sorry for all the people that were in the dealership at the same time we were trying to get financing, I can only imagine how the scummy dealer was ripping them off ..
You don’t get the rebate after the addons; if you got it back, you’ll have to pay it back next April when you file. You had to keep it under $25k pretax, no exceptions for dealer addons. Stealership knowledge arbitrage strikes again.
Walked back in after 5 minutes lmaoooo
You got taken.
im looking at the new 2024 Nissan Titan Pro4X...I live in SC. Seems these prices are not coming down.nor any big incentives being offered, what's your thoughts on the prices on these trucks in the next couple months?
they are cool but since they are the new style may be a min before the lower rates. i would check other states you make get a better deal
Nice shirt.
What website is telling you the estimated value in the video?
If you can’t find a cheap car to buy, consider leasing an EV. I got a Toyota bZ4X last month, figuring it was a great way to have a cheap car that’s reliable. If the depreciation hits it hard, it just goes back to Toyota in three years. This won’t work for everyone, we can charge at home, and have a gas car for long trips, but it is an option.
lots of cheap leases on EV now
What about hybrid vehicles?
🎉🎉🎉 Hello 👋🏼 Lucky
I think it’s time to have The Ninja on with you again.
What a great video today. You always have the BEST thoughts and information.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
And YES, That T-shirt is ugly 😂😂
In charlotte 28206 area Chevy trucks 11k off msrp for 1500s. F150s xlt 4x4 53k otd
These auctions you sell cars at, are they dealer only auctions or public auctions?
i honestly want to go find the oldest car that still has all the electric safety features. I need adaptive cruise and all those sensors. MSRP is still a ripoff for almost all cars.
Bad ass shirt bro
Lucky, what watch do you where?
I’ve had 2 cheap cars for like 3 weeks 2012 Honda fit 129K I had it at $7K and no one looked at it. I lowered it to $6k
2016 Hyundai accent $83K I had it at $8900 I got a few bites on marketplace no one looked at my it. I’m gonna lower it to $8K
Kinda funny how those same colors look pretty awesome on a porcelain sign but don't transfer well to a t shirt.
My Fiat 500 went down prices a few months ago and I just looked again 3 months later and the price went up.
I guess with inflation going back up ?