Has the Used Car Market Collapsed? 

Yup, I just want a depreciated F15 x5. Having a hard time telling buyers that their car is not worth 6k more than market value. I found one, but unlucky me, someone else already looked at it and was ready to pay the same what i offered for a car that was destroyed by kids, interior was horrible.

Same

As a person who bought a shitbox in January, 2020, I would like to be able to buy another shitbox for $2500. I'm not paying double for one.

^ this, same here.

@@abrahammc2125 n55 or n57?

Nah but they’ll trade you their ps4 and a snickers

Not having a Facebook is the best thing for you.

No lowballing, I know what I got!

oh god people want 5000 for their 250k miles e46 330i and wonder why they cant sell the car

Time will adjust their mind

Inflation. Everything is expensive now and cars have more technology and engineering than ever.

The other side of that problem is $40,000 isn't a "lot of money" by today's cost of living standards, but it is still hard to attain $40,000

@@vincentpapaleo4803 truth ,my car was $30,000 and even making $75,000 a year that was a lot of money

@@vincentpapaleo4803 Everything that is a necessity has seen very high inflation and wages have not kept up. $40k for a RAV4 is insane. it is a little SUV dads buy their daughters to go to college.

I would add that the RAV4 and CRV are totals different cars than they were a decade or more ago. They are now an an entire class bigger and more luxurious. They are no longer small, simple cross overs. As such their price has gone up. It seems like car manufacturers love making their newer versions bigger and more luxurious and therefore more profitable.

They dont have to be antique, just special see Ford GT etc that never traded for less than MSRP

Its even more atrocious when the car is modded, kitted or tracked in anyway.

@@baronvonslambert No, it was ludicrous.

Almost all cars are liabilities and not assets

​@@baronvonslambert Id wager printing 5 trillion+ dollars had more of an effect than a slow down in production. Our monetary supply was increased by 30% in what, a year? So no wonder your avg car increased in value 20-50%.. Not to mention everyone had stimmy checks burning a hole in their pocket. You know how many people bought shitboxes with that? A lot a lot. Just caused even more demand in the low end of the market resulting in a domino effect.

Sad thing is, car prices have barely kept up with inflation.

this is merely a pause, nothing stops this train

EV'S. They aren't producing as many vehicles people actually want. Just to chace the ev fantasy.

Also, it's not just inflation, but OEMs have stopped producing a lot of cheap cars. It's legitimately difficult to go out and buy a "cheap" economy car in the low-mid $20k range. Oh, but if you want a $50k SUV or a $70k pickup truck, the dealer lots are absolutely full of those.

@rw0037 the EPA and safety standards have also driven the price of even the cheapest cars up.

Try and tell that to the moron who paid 100k over for a GT3.

In this case yes.

I just wish the rest of the market would correct. When your car is worth half what you paid 2 years ago, selling it makes no sense because the rest of the market hasn't corrected with it. Both your dollars and your car are worth less than they were 2 years ago, so if you sell, you're selling at a major loss. I'm fine with depreciation but this economy is unsustainable.

@@Samtallica That's what happens when inflation runs rampant. Did all those people really need a new car back then? Does all these people need a new car after two years? The party is over, people made their bed, now they can lie in it.

​@@SamtallicaFor a daily, the value in your car is its longevity. If you're someone who collects low mileage and/or classic cars I can understand why this would be infuriating, but for commuting, the value of your car IS your car. My car did exactly what you described. It lost HALF of its value (on paper). It's no less reliable/dependable than the day I drove it off the lot.

My favorite part is when Doug said "It's quirking time!" and then quirked all over the place.

@@97Crazystevewhat? 💀

@@2015BLOXXER ya brain is rotten

Yeah basically lmao

But MY Corvette is BEST Corvette

Right, Too funny. I was tired of the color of my 2023 Z-51. Just received my 2024 Z-51 in Cacti Green. Cash. It's good to be a Boomer.

I'm sick of seeing them there are 3 in my neighborhood!

@@Glideslopes what a terrible way to spend 60-90k. So many more unique, desirable and fast cars for less. I guess if you're a Chevy fan boy, it's right up your alley though

Except when it comes to the labor market. Buyers (employers) think it’s still a cheap commodity.

What car brand & cars are immune by not having reliability issues? Plz reply​@@wfyfwfyf

45K for top of the line Corolla...crazy

New car prices won't go down... it's called inflation.

Mrkt trends up...& down > ppl tend to cherry pick & then freak out > climate being a textbook example...but farbeit for me to digress > general trend however (over last 3 Decades) will likely continue trending on par or inline with historical averages > unless you buy a new EV 😳

If you are spending $80,000 or more for a pickup truck, you seriously need to examine your priorities

Yet people buy them

Nah, the used autos market was in a depression from 1815-1837.

My Horse and buggy has depreciated

​@BostonCycling_ you misspelled defecated 😂

Horses and oxen depreciate as they get older. 😂

Um, sorry but "hundreds of years?" No.

Reddit gold

Will quirk 4 features 😩

Haha, homeless people, am I right?

I laughed out loud

@@dasfabelwesen you must be fun at parties. Tell them to try “working 4 money”. That usually helps with homelessness.

True, but as Doug made an example with a 997 911, collectible cars are dropping too. A heap of people borrowed money at a cheap rate at market peak and are now underwater on their collectible cars.

No not true collectable Cara like old GT500s old ZL1s old M3s etc are Def still going up sadly

@@54FLEX45 lol the 997 isn't a collectable.

I know all about this. It’s amazing how many people believe their car is a collector item and attempt to get way more than it’s worth. It’s all good and things are beginning to normalize. (:

@@blackeye3336 GT500's and ZL1's are collectible? Or overvalued trim models?

Dead meme kept alive by morons in an attempt to feel like they are important and humorous. Fail. Grow up.

Yeah it actually is.

tremendous

He decidedly does *not* have the rap game in a chokehold

facts, waiting for prices to go down so i can get a used car for a reasonable price

Lol facts 😎

Probably his waistline started to appreciate, so he had to cut down on the cookies 🤣.

Dude, that firebird from 30 years ago is going to be worth as much as they paid for it any time now. As long as it has less than 1,000 miles on it.

Good for buyers though. I'm seeing manual Hellcats with 30-40k miles going for low 40s now

With 30% APR too lol

Same thing happened with Dodge Vipers. There’s a ton of them with sub 5,000 miles which took up garage space for 30 years.

@@user-vx7vi3vq1c Anybody that sits on a car for decades thinking they’re gonna get rich is an idiot. Drive your cars!

Nah he's extremely out of touch with prices.

Selling a truck for over MSRP. Must be a real bunch of clowns.

Or the people with 20yo ran down beater 250k mile diesels thinking they're worth $35k🤣

@@shanet7511 They saw "the same thing" on Barret-Jackson!

@@AB-80X It’s not that they trying to sell over MSRP, but that full size trucks are back to being discounted $10-20k. They paid MSRP in ‘22 ($50k) and today the same trim but brand new can be bought for $40k. People selling a ‘22 want $35-38k (what they owe), but the rest of us can buy a new one for a few grand more.

We got a fellow Dunkey fan over here

Reminds me of the old “more Doug demuro” channel thumbnails haha those were gold

That wont happen, cars depreciate, homes not

@@mauricio6216 market correction, not depreciation

Wait until the eventual recession comes and all those repos come flooding the market. I see more corporate bailouts on the horizon.

Yep. Porsche especially will have a really rough time in the next year or two.

@@AB-80X Maybe, Not so sure. I still see plenty of people more or less oblivious to inflation, their ends are meeting nicely and the end of the month. Those folks buy new loaded Cayennes and Taycans. I see lower more mainstream brands possibly more at risk. Genesis or Acura may have a harder time than Porsche.

@@sburns2421 They do. The problem is more in regards to the used Porsche market. Even people who can afford cars in the higher mid tier range such as Cayennes and Taycans are still somewhat reliant on a used market value. Many still buy and finance based on the idea that their purchase will retain a good value. In this regard the market still needs to catch up. Wait six months and see. There are people who bought cars six months ago who can’t believe how much they have depreciated. That does not mean they can’t no longer afford them, it won’t change much in relation to their income, but it means that they can’t afford to replace them either. This is where the dealers will get stuck. And VAG will push dealers hard to get new lot cars because of the severe financial issues of VAG. Also while Porsche is not a budget car, it is by no means the highest end of luxury or exotic either. This is relevant because Porsche is actually one of the most financed car brands in the US. They are prestigious and desired enough so that many want them, but still so affordable that you don’t need an extremely high income to finance one. People don’t finance Ferraris and Porsche for the same reasons. Porsches are financed because it is a way into a car for those who can’t pay cash, where many opt to finance high end exotics because the money invested makes more of a profit than the interest rate of the finance. So now that the interest rates go up and finance becomes more difficult as there’s less security in the car, fewer people can buy them. Add to this all the bridges Porsche burned with loyal clients over the past 24 months by demanding extreme ADM’s. Porsche has a very rough time coming.

@@sburns2421 That’s interesting. Acura tends to keep their resell values but not at what everyone has had the last couple years. I’d be curious to know how that’ll impact Kia, Acura, Honda, Toyota, and Nissan.

My shitbox 95 f150 was worth maybe $1500 in 2019 was seeing similar condition ones on FB marketplace for around $6-7k at the peak

My current car cost $2500

​@@fortheloveofnoise9298good $2500 cars no longer exist

Cash for clunkers really ruined the market, and it never recovered. Before C4C, you could get a reliable beater for a grand. Now that car is 5 grand.

So true. I was lucky to find mine. I got a 2000 panther body. That's what I paid $2500 for. I was able to get a good deal for it because mine is less desirable because it's before 2003 (pre rack-and-pinion steering) and it has a vinyl half-top (which looked like crap by the time I got it). @@jasonbrannen7598

@@MrJMS814nah, you just haven’t looked hard enough or don’t know how to do basic maintenance on your car

Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God

Thanks to my co-worker (Alex) who suggested Ms Christy Fiore.

She's a licensed broker here in the states🇺🇸 and finance advisor.

After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.

Can I also do it??? My life is facing lots of challenges lately

They are, and frankly no one should care. They did it to themselves. A moron who paid 50k over for a measly C8 made his bed, and now he can lie in it.

Um…he is!

No it sounded like someone in a concrete bunker who doesn't understand good audio.

@@Enchurito cry more hater ;)

lol. Doug has a bond villain garage. Or it looks that way from that camera angle. And he gets 60s Bond villain acoustics. That said, I would take that garage if offered

Not to be unkind, but when people do stuff like this, I think "you kind of deserve it" When the first Raptor came out, they were going for 40-60K over sticker. I had a friend of my brother in law lay out 47K over sticker. he had no business buying a Raptor at his income level. Even at MSRP

Absolutely, i dont really feel sorry for them at all, they ran the prices up for all of us

I waited for an under MSRP new Bronco, got mine last August $2500 under! Now the Raptors are at MSRP……

Now the off-road cred suckers are drooling over the new Lexus GX550. The few used ones on the market right now are all going for over 100k. That's LX600 money.

socialism - an equal level of misery for everyone, except the politicians and oligarchs

@@Tablerocked Sweden lets their large companies go Bankrupt, while in the US its only socialism for the rich who get bailouts.

air cooled Porsche are collectables and pretty rare all in all so they probably wont ever go down (much)

When you talk 25 years out, collectibles won’t collapse…..

Itll have to be after the people who grew up liking them die off, or the whole driving thing changes due to legislation.

@@computercrack They're definitely not that rare.

@@2Greenlid They will collapse. They're just too many of them.

I can't wait to get a c8 for 35k.

@BrianEugeneLee193settle down, Francis! :)

@BrianEugeneLee193 No one ever said it was an Audi. I'm just glad TJ Wrangler prices have stabilized, I'm looking at getting one to replace my P71 Crown Victoria.

There are now brand new C8's with discounts

@BrianEugeneLee193 I like the C8 Corvette. It’s neat

Less listings, less sales, less revenue for the company. If this keeps up, layoffs happen.

I think those are the most bestest, I doubt theyll ever be cheap.

I have been watching 997s the past year and they haven’t really dropped, maybe $2-3k at most. I think the people who own 997s are not the type of people who are going to be affected by market headwinds. Also many people believe the 997 is the best generation so you are fighting against enthusiasts as well. At this point Im considering 981s which are 90% of a 997 at half the price and are 4-5 years newer.

@@turbobrew Yeah, you make very valid points.

MAGA

that is more Corvette guy

It will eventually, but the problem is that the price declines will follow a recession. So there is pain involved in order to properly reset prices.

It should go back if there is a serious recession.

​@@tboneforrealevery recession the ruling class has gotten richer and richer. I don't know how many more we can take.

I do not deserve this!

@@lindap.p.1337 sounds like you purchased at a high point and are selling in a dip? If not, don't worry about it. Just wait. If so, sucks.

Nah prices still suck

@@Lorentz_Driver You’re correct, new car prices are very high, especially leases. I think that auto manufactures are re-setting how they do business. For a long time, they produced as many vehicles as they could, then did whatever they had to, to sell them (deep discounts, rebates, lease and finance deals) but now they’re only producing as many as they know they can sell. Lots of people who had been able to lease a new car every three years, now can’t.

If only housing was the same. Car production is back where it needs to be. Housing production has been massively below what's needed ever since the recession. The deficit of housing starts in the US is huge.

@@nicholaswhitfield9341 Here is the thing though. My dad bought a home right out of college as an engineer. Now that home is $800k, you would need 3-4 or maybe more new grads to afford that. Sooner or later nobody will be able to afford the prices.

This youtuber just saying from "capitalism-speculation-self-interest" point of view. Who care that current economy collapsing due to "overproduction". Who care that consumer have no money to pay for new car $10k-$20k. Who care that you can get 2-5yo car for $500-$1000. "Reseller" just adapting to current market, and what market or economy doing, reasons of it happening - they dont care.

Wait until AI takes far more jobs. Like many of the high paying coding jobs, or finance and accounting jobs.. The McMansion market will collapse.

Importing the entire third world to Europe and America probably isn't helping either

That's only because Christopher Columbus used to own it.

So long as unemployment is low, and the vast majority of mortgage holders are sub 4%, there’s no housing crash coming.

Two totally different things. Supply of cars is back to normal. Housing supply is way down at a time when many people are hitting home buying years.

@@Harumph538 When people go underwater, they will walk away from homes.

@@mitchhedberg4415so long as they’re employed, and paying a mortgage that’s significantly lower than renting, they’ll stay. Also anyone who bought in the last few years with low rates has paid down enough that they’ll remain above water indefinitely.

That's his point. It's not crashing, but it is correcting. The crash will come when an eventual recession hits, the job lost that follows, and people have to give up the cars they can no longer afford.

If you’ve been paying close attention the prices of used cars has dropped dramatically in the past year. 30-40% in some cases.

Canada is an exception. We're currently seeing record immigration levels that are keeping demand up in every sector. I'm seeing 2004-2007 corollas with 250k km selling for 5-8k still.

REAL I'm also from Québec, the car market is fucked here

The Doug cave