The Used Car Market Collapse Is Near (Major Dealers & Banks Going Under)

46 thoughts on “The Used Car Market Collapse Is Near (Major Dealers & Banks Going Under)”

• Thank you so much for having me on again!

• I can charge my electric bike for about 15 cents. It will go about 15 to 20 miles on a charge. The weather just warmed up in Michigan. I will be cruisin alot on my e-bike for the next 8 months.

• Some required safety features are stupid and driving up costs… I know that damn baby front seat censor causing massive problems on many cars for folks that HAVE NO KIDS!

• I have never understood how charging people with poor credit , lower income, a higher interest where they end up paying more in interest than the actual car is worth, which will only make a person never be able to catch up. It makes sense to charge everyone the same amount , and go off of income to keep them in a car based on the income. This system is so flawed to keep people from increasing their credit. Things happen and people end up suffering for ever esp like Covid job loss , people were laid off, get employed with half their old income, and while they have to adjust , they are stuck with poor credit because the government forced shut downs and companies suffered and closed. Everything has increased so much forging adult family members to move back in with each other. People get behind because they are having to pay more interest , for credit scores, it’s just such a dumb flawed system set up for failure

• I spent my 20s, being a dummy, blowing my full time job wages on things i shouldn't, and saying "ill pay this or that bill next week/month, ill buckle down or cut back… just not now next week…. … well 3 years ago i turned 30 and next week finally came, paid off some overdue bills, settled a collections debt(with 4 or so left) and decided i finally wanted a car to be proud of, a car in my name with proper tags plates and vaild insurance… so 2.5 years ago or so. Credit acceptance financed a 5 year old Focus hatchback for me, and in the time since i havent been late/missed a payment yet(maybe one toward beginning that was 7-14 late but next payment on time…. sorry to drag on, i know Credit Acceptance is high interest financing for people who like me have a record of not paying bills on time or in the case of two credit cards…at all.

  Ive always thought of the high interest as my "penalty" for my 20s. But even with a 70k a year job and 10% down i avoided the Ram/F150 or Charger/challenger my male ego wanted, at 700-800/mth and 250or more insurance… for my 5 spd Focus SE hatch, that has been lowered, with a Rockford Fosgate sound system, a Focus "tesla screen" touch screen. 18" rims rear drums converted to disc front rotors ¼"smaller than my stock rims. And borla exhaust… for 260 payment, 160 full coverage… people stop paying 1000 a month, and lining the automakers pockets with record profits, and stop buying new…. force the fuckers to come back to earth with pricing

• If the car market is crashing than why are they selling 2020/2021’s at 40,000+. They really don’t care if you walk out the door. Their not willing to negotiate and seem to be doing fine.

• Isn’t nice to be a white privileged snot who without the hard work of your parents would have known what the world is like for people who didn’t have the advise and guidance of responsible parents.

• Can't wait till prices dropped 😅

• It doesn't matter how much I make or what can I pay for a car, but a 160k for a cadillac that's crazy, it's a cadillac for God sake,

• This news is old news and used car dealers are still in business. Someone said on another channel and you can google it that Carvana is out of business, yet I saw an ad for them on tv and there still going strong.

• These dudes literally repeat the same thing on every episode. Just lazy

• US GOV. Sold out the Consumer 29.9% interest rate after you miss just one Payment!
  Worse then the Mafia Loan Sharks charged!

• They mentioned quality to 2006.
  I agree, my 2004 silverado Z71 5.3 now with 422,000+ miles original engine and trany.bought new $31,500 otd. I do all maintenance, still every day construction work truck. Runs strong. Best thing is it's been paid off since 2008. I did replace water pump at 340,000. Got my money out of this one. Scared to buy new.

• Great dad!! Great family! Thanks for the auto info

• Dealer markups are major drivers of inflation.

• P.T. Barnum had a saying "A fool and his money will soon part". In the past when I was working (now retired) I was able to buy a little more expensive car or truck. With the prices that are now on the new vehicles I am not going to spend that kind of money on a new car or truck. The prices are ridiculous! The dealers will starve before I buy another new one.

• There is going to be a car collapse just like the 2008 Housing market crash if they keep holding on to vehicles to sell them at insane prices so by the time they do sell them its no longer a new vehicle

• I’m in the market to buy but get disgusted with the BS 1k or more in dealer equipment that’s a farse. Then the banks give better interest rates to big dealers instead of private sales

• Cars are such a loser. Some loser can hit you and then the insurance writes it off. Now you’ve loss your invested value in a car you bought new

• These Foreign car dealers are going to flood America with cheap cars.
  A lot of American made car brands may be going under.
  People making $20.00 an hour do not buy $50,000.00 cars.

• "Pops ! I think there's someone at the door 🚪" 🤣🤣😆😆

• You are right that these CEO's are short sighted, that's why Toyota is beat the shit out of them. Just about every three years they come up with some crappy new model, meanwhile Toyota stuck with Camry and corolla and Honda stuck with Accord and Civic and both companies continue to improve these models.

• Karma….

• Just a suggestion maybe all the CEO's of these corperations should stop the luxury life and try living with less like we all do and then when things get better increase your yaght purchases. 🙂

• Shutting down businesses 70% . Massive layoffs, Bank failures. Heading to depression with foreign war sanctions Europe and Eurasia imports ? You'll never sell the vehicles wiith no economy to support it. Real estate and car crashes.

• How in the hel is a used car just as high or higher than a new one??

• Thank God!! To have a shot in the future at purchasing we need housing and car market needs to collapse.

• 18:35 that’s like the old vin etching in glass charge 😅

• The fed has to many friends that will lose money. The fed will bail out or we will

• All of the car dealers and businesses who jumped on the Covid and post-Covid price hikes in a greed fueled attempt at charging $23,000 or $25,000 for the same exact car or truck that sold for $8000 a month before that deserve everything they get!

• Pure lies

• I got an older car with less miles .I couldn't see buying a car with over 100000 for 7000 and up

• "…raised the MSRP s because they saw that the public would pay for it."
  Hit the nail on the head. Consumers have allowed this to happen. If they refused to buy vehicles at these exorbitant prices, manufacturers would either have to lower the MSRP or offer incentives again. Same would be true for dealers. Let them sit on their lots and rust rather than pay "market adjusted" prices.
  Unless you truly need a car now, don't buy! The situation will then correct itself.

• Just tried to buy a car last week and they treated me like I knew nothing and gave me outrageous terms. Walked out and now they won’t stop calling me.

• ❤ Nothing but Love for you 3 🤟🏽

• But the latest numbers counter your trend?

• You need customers to last in business.

• Great show guys. Thank you for going the extra mile for the common man. I do hope the financial arms do their best to work to keep loans performing. After repossession, these folks are going to be pressed to find a beater to get by with. Car makers are being demonized for price gouging, but I have to applaud them for rolling with the punches and learning from past mistakes. In 2007, going into 2008, most of the government sources and many financial indicators said business as usual. "The financials are stable" (actual quote from Presidential Candidate Sept 2008). GM was unaware that they could not trust available data (in 2007, the UAW won GM worker raises). And when the financial world fell apart in 2009, GM and Chrysler let their shareholders down. They had to plead for help from congress. They are not doing that again in 2023! Ford chiefs wisely in 2003 chose to expect the worst and drafted "the way forward" plan. They bought early retirements, slimmed product lines, shuttered factories and lastly, used their good credit to borrow a lot of money. They wanted cash on hand if times got tough. And they did get tough. Recently, I saw an interview with Warren Buffet that conveyed automobile and airline stock don't make enough money for his stock portfolio. Oh, and by the way, I read that airline tickets may have some price increases in the near future.

• Zack, a larger crack would be called a chasm, not a crater. A crater is a large depression with birm sides.

• Pops, ordinarily I would agree with you but I think that Zach's point is the gall of a dealership that presumes that just because someone has money that he or she will submit to highway robbery especially for an GM vehicle as common as a Cadillac, the epitome of "Everyman". If I'm going to pay through the nose for a car, I may as well make a statement by buying an exotic car which will, to some degree, retain its value as opposed to paying 50,000 dollars in extortion money in addition to paying for the actual asset. It's not a simple matter of have and have nots. Its more a matter of stupidity. If I want to make steady revenue I'm not going to gamble that my cars have so much appeal that even a microcosm of customers will just pay money to kneel at my feet.

• Brandon is a straight up guy, I injoy his auction adventures.
  Always tries to give honest information.

• Love the channel and your soul!

• We exchange money for cars.
  It’s not that cars have gone up in value. It’s money that has gone down in value.
  They have printed (created out of thin air) so much money that the supply has doubled. That halves the value of each dollar.
  It’s simply theft committed by those that have assumed the right to print it.
  Don’t muscle in on their racket –
  If you print it they will throw away the key

• I’ve was in the new car business over 40 years, sold my first New car in 1972 , my last one 2008 , working for the biggest dealership in my area, absorb that for a minute, I never took or submitted a credit application for any customer . They paid Cash, huge percentage some had credit union financing where they had leveraged other assets others had a business card from the bank president . My mind can’t wrap around used car dealerships carrying in house notes much less co-signed or endorsed loans for 5 years or more on a used car. Now that I’m retired, I’ve been buying and rebuilding salvage vehicles. I consider Salvage to be the only viable used car business in the future

• I was so pleased to hear this video information..this is a dream come true..finaly the automotive industry falling apart and in the pangs of disintegration..I am very happy to know the extinction of this industry is at hand..I give it two years maximum until the end. Thank mankind and its folly.

• Great information. Thank you very much. 💕

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