Why Car Dealerships are NOT Lowering Prices
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Nicely done, Lucky! This is AWESOME!
I can't wait till the dealerships fail! Can't stand them. Hopefully it will flood the market with cheap used cars and people can drive quality vehicles for a long period of time. I refuse to pay these exuberant outrageous prices. Still driving my POS and can drive from Coast to Coast with no issues.
Excellent breakdown. Thank you!
Been an Auto Dealer for over 21 Years. Great 👍 Breakdown of the Most Recent Automobile Issues.
I’ve offered cash for up to 60k for vehicles in the last 2 months. No one accepts it until 3 weeks go by at which point I’ve moved onto a different vehicle. Sucks. But oh well. That’s life
Lucky you are right. I am part of a large auto group and we always always get rid of our cars at 60 days. No if ands or buts!! We have done business that way for over 20 years. Also we do not buy at auction but we do sell into it and we always trade for thousands less than Manheim. Manheim is a racket as you know that caters to certain players. I feel sorry for the used car dealer. He is looking at difficult times ahead. I know you don't want to say this but it is not worth it to do business with a used car dealer that does not have a new car franchise. You know as well as I do that we control the market because we have the new car and we trade for the lowest dollars. By the way we are still making thousands on our trades at auction and we are still getting lease returns dropped off at our lots. A wholesaler would give his right arm to have that advantage!! Not picking on you………….In your own words I am just being transparent. I think YouTube is your future and I subscribed today to help you out.
You should never floor if you do, do it at last resort
They're just testing you to see how much you're willing to pay.
What comes around goes around. Let them burn! Direct to consumer with a fixed price is where we need to be. This make up whatever number you want crap needs to go away. Especially these crazy mark ups on very desirable cars. If I was manufacturer I would tell him to kick rocks
We sold my wifes 2017 corolla iM 6mt hatch w/55k miles on it for $19,000 to Carvana three weeks ago; IMO they way overpaid, and I'm certain they will lose money on the vehicle. That is more than invoice was, and slightly less than MSRP was in 2017; we paid $14,700 for it in 2017; we drove it for five years and made money on it. We bought her a new car at MSRP, paid cash because interest rates are nuts right now (4.75%, we have stellar credit, and I only see those rates going up in the coming months). Since it's a PHEV we'll see $6,587 in federal tax credits when we file, and possibly $750 in state credits, so it was the right time to make a move.
I've got a 2015 IS350 with 59k on it, I was/am tempted to sell it because it is simply overvalued right now, but I'd have to buy something else new at MSRP, and I can't find anything I want to buy right now that meets all three requirements: 1.) on a lot 2.)the right trim/color/factory options 3.)at or below MSRP.
Yep, still running my $300 beater. That's what the tow truck driver offered me for it last time I broke down. No reverse gear, but she still moves forward after I fixed her. Doing my own repairs, I intend to keep nickel and diming old rusty now that there is finally light at the end of the tunnel.
It gives me some consolation that the dealer has to pay the same amount each month for a flooring fee that I pay on average for repairs. When that flooring fee exceeds my nickel and dime cost, and with unrelenting inflation it likely will, I will give the dealer another try.
Not all Deealers are greedy, many of us would rather write down a old unit rather than over charge.
this is very informative I can't thank you for educating me . lucky what about the muscle car market will that ever get lower so the average guy can get an opportunity to cruise down the road with a 60s car ? even the 4door 60s cars with rust are even going over 18k what is your take on all of this thank you again I'm glad I found this channel
No car dealership is lowering prices the price of poker just keeps going up year after year
Really nicely presented. I appreciate the info.
Always great reviews, thank you for taking the time.
So I went into a ram dealership yesterday to price a 23 truck…. They were not selling above listed MSRP, just wanted a 499 admin fee. They are also not offering any type of incentives or deals. the salesman was telling me the prices would not go down next month but go up.
Are the franchise dealerships you speak of new car dealers as well? Toyota Ford etc. Based on this analysis and from what I’m gathering from yourself and others, they will have lower prices and add incentives to compensate for the rising interest, plus inventory is slowly coming back, demand will decrease and prices should come down.
The MSRP is set by the manufacture correct? How soon before I can see a lower MSRP?
I’m possibly looking at it all wrong, what are your thoughts
Watch prices drop as dealers realise the recession is here and cars aren't selling.
I used to work in the metal distribution business. The cardinal sin was poor inventory turns. If you turn inventory quickly you don’t get caught in these downturns.
Let the repos… explode
That's why the best deals to be had occur towards the end of the month.
Great info
… forgot to add: I did thank them for their time & the test drive & drove back home in my loyal 1st-gen Prius hybrid pushing 226,000 miles.
I’m patient. 🫡 🚙
Can you do a video about heavy duty/suprduty diesel dually trucks and the right prices for them and when it is a good time to purchase one. I usually don’t pay MSRP for cars, now they are asking over MSRP, that is a joke, but that s the market now.
Thanks for the video
Ahhh THAT’S WHY!
I offered $37K with 7K cash down for an 2021 Audi Q5 advertised for 38,500K — they said nope. This was last month. I checked their site the other day & that same Audi is still on their lot and advertised for $36K.
Did I call them? NOPE!
Like Lucky said: you can replace cars not customers!
Paying higher interest rates
Well explained! Thank you.
Mannnnn. Why won't these dealers lower the 2019 BMW X5 to about $35k with less than 27k miles on the dash. Sheesh. Take the L. Move the vehicle.
I have a 2017 ford focus with 140k miles on it. Runs like a top. I don't have to buy a new car. Maybe I'll buy a bike instead of a car 🤔.
As a consumer I'm in a 100% cash position now with the ability to simply wait. Be interesting to see what end of 1st quarter 2023 looks like.