Interest rates is a start, but the vehicles are still priced too high. I would buy a new truck, but I’m not spending $50K for a stripped down model, or $100K for an accessory overloaded truck.
For every one like you, there are thousands who will buy because they are approved for a car loans and they think they can afford the $1000 payment. Nothing is going to change for the better
I have over 750 credit score, no blemishes. Tried for a year. Couldn't get a car with a good interest rate. Had to settle with a lease, around an equivalent 5% rate. This market is still way, way out of wack. Crazy prices are still the norm(to high imo). The banks seem to be clutching the money. We did not have a choice, it was get a vehicle, or start paying minimum $1,200/month for rideshare. This market, even if it 'goes down' is not going to be enough for us, I'm not sure how anyone else can do it, even with that cut. No political stance here, one way or another, I just feel defeated.
I still see mile after mile of new and 1 yr old cars (being sold as "new") with $2-6,000 markups. A Chevy light pickup STILL costs $40-49,000 no matter where I look. Don't even get me started on Ford...
This is not big news This will not do anything I have been watching an f350 and the dealerships had it listed for 49k and as the rate just went down and the truck price just went up 51k
~ Back in 2022, my credit score was 690, and despite that, I had no choice but to buy a used European car with an outrageous 18% interest rate, as no bank would offer anything lower. I’ve been trying to refinance, but sadly, the rate still hovers painfully close to that same 18%. 😢 ~
If someone falls into that 21.5% rate category, rates will NEVER go down enough for it to matter. If someone is in the 5.8% to 9.3% category, a couple of 1/2 point rate drops will have some effect. Minimal but some.
the rate drop only helps large corporations where they have capital and resources. we normal citizens are facing affordability problem and the rate drop barely helps.
my neighbor bought a brand new Denali last year paid 92k for it and got 8 % with Perfect credit. He just paid it off last month and said I will never do that again.
Why is 21.5% so high, but it's ok for people with excellent credit to gave credit cards in the teens? 21% is for people with bad credit that are dangerous to loan to.
How about refinancing? I would think a lot of people are refinancing now. To get a better rate I wouldn’t think my loan company will contact me, I myself have to make the move.
Interest rates haven't been high. For a very long time, interest rates have been artificially low. Artificially low rates result in high prices! Interest rates right now are generally considered healthy. Lowering them, while prices are high, is a very bad idea. Macroeconomics 102.
The Fed has been inflating the economy since 2009. The result in all the inflation we've experienced. Lowering rates only means we'll get more inflation. Just what the Fed wants. Everyone gets poorer.
Interest rates have NOTHING to do with this. You are woefully under-educated on an economic basis. Price is the problem. Until prices drop at least 30-40%, the car problem will remain. Finally, anyone and I mean ANYONE who has even stayed barely informed knew the Fed would do 50 basis point decrease. So again, you really need to delete this video and stop talking about a subject that you are totally misinformed about.
These rates are going to have absolutely no impact.
Absolutely right.
Interest rates is a start, but the vehicles are still priced too high.
I would buy a new truck, but I’m not spending $50K for a stripped down model, or $100K for an accessory overloaded truck.
Especially how everything is made now built to break and spend money fixing on top of that 50-100k . Sad
It could go down to 0 and I still won't buy till the dealers lower their prices
amen to that
100%
What? 60k base model mini SUVs and trucks or six-figure EVs with only 200mi range don't interest you?
For every one like you, there are thousands who will buy because they are approved for a car loans and they think they can afford the $1000 payment. Nothing is going to change for the better
I refuse to contribute to there thieves by buying a car!
Wooooweeeee!!!!! A WHOLE 1/2 percent! This is a game changer!
😂 i know right? Save your self a few bucks a month! Wowee!
I hope you are joking.
I have over 750 credit score, no blemishes. Tried for a year. Couldn't get a car with a good interest rate. Had to settle with a lease, around an equivalent 5% rate.
This market is still way, way out of wack. Crazy prices are still the norm(to high imo). The banks seem to be clutching the money.
We did not have a choice, it was get a vehicle, or start paying minimum $1,200/month for rideshare.
This market, even if it 'goes down' is not going to be enough for us, I'm not sure how anyone else can do it, even with that cut.
No political stance here, one way or another, I just feel defeated.
I still see mile after mile of new and 1 yr old cars (being sold as "new") with $2-6,000 markups. A Chevy light pickup STILL costs $40-49,000 no matter where I look. Don't even get me started on Ford...
Toyotas will maintain there prices and even go up as there in high demand
That’s a fact!!
Same with Honda. One Honda stealership in my city wants $49K for their cars. Just despicable.
This is not big news This will not do anything I have been watching an f350 and the dealerships had it listed for 49k and as the rate just went down and the truck price just went up 51k
Zillow added 3k to my house estimate the day they cut rates. I’m pretty sure it was already a good 10% over what it’s worth
Me sitting on my 2.5% car loan 🙃
~ Back in 2022, my credit score was 690, and despite that, I had no choice but to buy a used European car with an outrageous 18% interest rate, as no bank would offer anything lower. I’ve been trying to refinance, but sadly, the rate still hovers painfully close to that same 18%. 😢 ~
If someone falls into that 21.5% rate category, rates will NEVER go down enough for it to matter. If someone is in the 5.8% to 9.3% category, a couple of 1/2 point rate drops will have some effect. Minimal but some.
the rate drop only helps large corporations where they have capital and resources. we normal citizens are facing affordability problem and the rate drop barely helps.
You are only too right.
Credit card rates NEVER go down.
A good reason to stop living on a credit card.
my neighbor bought a brand new Denali last year paid 92k for it and got 8 % with Perfect credit. He just paid it off last month and said I will never do that again.
Hey you’ll get that Starbucks drink once a month again! But I think Starbucks stinks so meh.
Whatever happened to sears?
It’s nothing but bandaid
Why is 21.5% so high, but it's ok for people with excellent credit to gave credit cards in the teens? 21% is for people with bad credit that are dangerous to loan to.
How about refinancing? I would think a lot of people are refinancing now. To get a better rate I wouldn’t think my loan company will contact me, I myself have to make the move.
The huge negative equity so many owners are carrying means refi's won't happen.
Yes sadly that is me.
The changes to Turo makes me not want tk start rentinng with them right now. Going to wait to see uodates from hosts on this matter.
All political. God help us
can you do a tutorial on how you get your hair to look so amazing?? 😍
The muppet boiler room car market is dead 😂
Half a point? LMAO, that's like saying "Great news: Car prices dropped an average of $20."
Who pay 21 apr. for a used car loan?
Look on the road... A majority of the cars that are 6 years or older.
I feel like I'm watching that Graham dude...
Every car must be 10 to 15k discounted
$15K discount on a $100K truck means you would pay $85K. Would you really?
tesla 1.99%
Yes. Tesla is getting desperate. Good-bye EV's.
Interest rates haven't been high. For a very long time, interest rates have been artificially low. Artificially low rates result in high prices! Interest rates right now are generally considered healthy. Lowering them, while prices are high, is a very bad idea.
Macroeconomics 102.
The Fed has been inflating the economy since 2009. The result in all the inflation we've experienced. Lowering rates only means we'll get more inflation. Just what the Fed wants. Everyone gets poorer.
Interest rates have NOTHING to do with this. You are woefully under-educated on an economic basis. Price is the problem. Until prices drop at least 30-40%, the car problem will remain. Finally, anyone and I mean ANYONE who has even stayed barely informed knew the Fed would do 50 basis point decrease. So again, you really need to delete this video and stop talking about a subject that you are totally misinformed about.
what
Wow, they are desperate to try to get Kamala and aren’t they 🙄
Pro Journalist / Analyst: ur gonna need to get a new studio stage
or, who says it has to be a certain way you could keep it as is, or create a second one that looks like CNBC, and have TWO, each it’s own style