Contributing Factors to the coming Car Crash include..,
1. Low Demand, 2. More Supply, 3. High Interest Rates, 3. Job Losses
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Now I see why no dealerships want my Bronco. SMH, made me feel like I had a hooptie.
Falling knife.
What is "wahder"?????
I'm really trying to wait to closer to the late summer-early fall to get the car I want (2023 model); Need to save up the down payment. The concern is price dropping for used cars eating into the cash I can get and then put into the purchase of the new. My current car is 6yrs old, low miles, pretty good condition, no major issues, and Carvana gave me an estimate of $15k.
How to buy my own Black Book?
You think the next 30,60,90, days is going to bring lower new and used car values?? wait another year. Interest rates are not gonna fall overnight inflation is not gonna go down quickly. Supply is going to rise demand is going to fall rapidly. The ball will be in the buyers court for sure.😊
No used car crash anywhere mear my area; not for 200+ miles. 2 year old cars selling for 5-10 thousand above MSRP of a
brand new one……crazy. And, new ones selling for that same amount over their MSRP. Only one dealer near New Orleans
is selling at MSRP……and only colors and trims I am not interested in. Everyone says they are selling "allocations only"….
they cannot order any car a customer wants…….If one shows up in my color scheme, I would have to purchase it the day
it arrives or loose it. That is too stressful for me……will wait longer to see if any normalcy returns to the car market.
Thank you both for your great info and time, much appreciated.
When is a good time to trade my 2021 Camaro LT1 in
Is there a Canadian version of the black book?
Guys do you think the new cars will decline also?
Great info . Thanks Kevin.
I don't think the vehicle market will "crash." Rather, prices will decline from their inflated peak to their true value. But going down isn't crashing.
Gold. TY.
Great Video ! Very informative!
Bill nash. “I will NOT be lowering prices of our inventory”
I laughed at a local Ford dealer selling their new Broncos for $20k over list. Even a manual transmission Bronco, too. What are they thinking?
Dam missed out on the Silverado I was watching. Msrp was 49k and popped up again at 44,500. Gone by the end of the day.
30-90 days, I’ll keep an eye on it, I’ve been trying to get a vehicle but these prices aren’t it currently
I remember years ago when I was interested in a used vehicle. The dealership had it over priced. I told them a price that was fair and reasonable. Essentially, they laughed at me. At that point I told them they were trying to hold out for every last dollar so I left. Three weeks later they called me and said they would accept my offer. I told him I already bought another vehicle, you snooze you lose.
Thank you for the great content!
You two remind me of my son and his gal…both are smart and friendly like you. These vids are my favorite to watch few nights. Just fun and easy to understand. thanks.
I have 2020 Kia Niro PHEV EX premium with 50K on it. Lease is up in october. Will be over by 15-20K. By out is $25K. Stopped at dealer to get an oil filter. Inquired about new model. They wanted $41K plus $10K market adjustment and also doc fees and some other small stuff. Got up and left said I will check back. And you would have to order with $1K deposit and will be a few months. Even worse is this used for work and have thought about a night and weekend family utility or back up vehicle, basically a beater with a heater for $5-10K Can't find anything yet but not going to put that extra money into a bigge vehicler and mainly use it for work unless they reimburse a lot more
Waiting to see private sellers selling below KBB value or at least within kbb range according to mileage and condition with a CLEAN title.
wait 30,60,90, days ?
Lets get real here folks…..try JUNE at best. That's almost 120 days from now.