Why Dealers are going to start DYING VERY SOON 

Ditto for my older & newer Ford trucks . Pd for & will drive for decade + or more.

I’m still driving an 04’ Tacoma and I will keep driving it until the wheels fall off with these car prices. I really wanted one of those new Mach1 Mustangs until they showed me what my payments would be with the higher interest rates No thanks.

I live in a minivan

I drive a car that's 13 years old. If something goes wrong I RU-vid it and fix it. I've done front and rear brakes and front and rear shocks and struts. My car is what most people would consider a POS but after learning how to fix and replace things, I've gained respect for the car and I appreciate it more than I ever thought I could.

"All people care about is money and what they can get for themselves" 💯

So you, was right about you?

Not going to happen. Sales reps are needed because Americans are impulse buyers. Now the philosophy on how vehicles are sold has and will change. A lot of dealers are going to best price or one price and taking the negotiation out of the deal. They still need sales reps to work the process. A majority of Americans hate waiting on a vehicle order.

@Andrew Pansch Perhaps I wasn't being clear enough with what I was expressing. Allow me to explain. I agree with you that there will always be sales raps. That's was not a point I was trying to make. My point is that manufacturers (Ford, Chevy, Toyota, etc.) are going to cut out the dealership or franchise model and go to a direct sales model like Tesla. I understand that many states (Most State) have laws REQUIRING that New Vehicle sales be done through a franchise model. Also, there will always be used or preowned. car dealerships and/or franchise models, as every preowned vehicle is different (I do not believe that will disappear). But, just because a manufacturer goes direct, does not mean the customer will have to wait to get their new vehicle in every delivery or even in the majority of deliveries.

@@rockymountainstemcell651 still won't happen. Manufacturers don't want anything to do with trades and the majority of people buying vehicles have trades. Tesla customers were able to utilize carvana ect in the past. Yet those maybe the ones that fail. It's not easy to just sell a vehicle on your own for the majority of people. At the end dealerships are needed and will always have a purpose.

@Andrew Pansch I certainly respect your opinion, and you may be correct. Time will tell! But it's already happening. Cadillac was the first to start forces out smaller dealerships (back in 2016) with a $1.5 to$ 2.Million dollar remodel and a willingness to agree to a one price model to keep their franchise. Now Ford and Toyota/ Lexus are doing the same. Next, they ( the manufacturers) will started test marketing direct sales in some large metropolitan markets with a plain that will have a large single wearhouse with a limited number of mechanics that can do accessory add-ons and/or changes, allowing the elusion of choice and a same day or next day deliver. Also, dont get me wrong, I think it's a bad idea, and in the end, it will only hurt the consumer. The semiconductor short already proved to the manufacturers that customers will put up with higher prices and fewer choices.

I drive a 23 year old toyota 4runner. It has 300k miles and is mechanically 95%. Everything works, sunroof does not leak. No oil leaks. I do all my own work, replace parts ahead of failure. If you were to use $2,000 per year in maintenance or replacements, you would have a very mechanically sound vehicle for the cost of only a few monthly car payments. This is especially true if you can perform the work yourself. Even if you paid a shop, it would still come out cheaper than 12 months of payments.

Sir today's generation wants to keep up with Joneses

You're lucky you don't live in New Hampshire. The amount of salt they put on the roads destroys everything, oil coating only slows the process. You're lucky to get 10 years out of a daily driver in the salt hell.

We know we are not young anymore when our new car may very well last longer than we will. ... Even my 66 Cadillac may outlast me.

I think it is a great strategy to a point. After 15 years modern cars typically start deteriorating at a greater rate. Parts and service follow inflation just like everything else. At some point the car is just not worth the money putting into it with the likelihood of more problems on the way. I'm 67 and my nephew and I repair autos. The cars that have been well kept generally last longer with fewer repairs. But not always. We have been keeping some real money pits going for customers entirely too long. We have even warned them of what will go out next and the cost. Quality after market parts keep gradually becoming more scarce. I suggest that when the market is favorable for New Used buyers they should jump on it and try to find one where the previous owner had extended warranty. The market is still way too high today because the dealers are in hopes of still unloading a few during tax season. They actually purchase cars for tax season. Simply wait 60 days after April 15 and see what they got setting on the lot for too long. It won't be long before the market goes out of our favor once again. When the old car suddenly becomes no longer worth fixing and we are forced to buy in a less favorable market is how we get burned. Right now we are into fix the car no matter what mode. But keep checking regularly on that New Used market. Think, we are going to in our 70s before we know it. Fooling with car troubles after car troubles is not going to be a pretty sight. I drive and maintain a 2007 Subaru 165,000 miles for my daily driver. I purchased cash a 2023 Forester last year because I have a friend who manages a dealership out of state. Or I would not have bought new, the market was way overpriced. I was wanting a New Used but dealers wanted a few thousand less than new. I needed a dependable vehicle that got great mpg for my weekend long trips 8 months out of a year. I could no longer see taking the chance of being stranded on the hi-way in 90 degrees at my age. I throw competition Atlatl and I can't be worrying about a stupid car getting me there and back. My days of worrying and pinching every penny is over. I'm enjoying my retirement! Wait! I remember Tom Jones LOL

middle / high schoolers think public transportation or those idiotic ev stand up scooters are ' car culture '

Excellent idea!

I like the sentiment, but public schools are not in the business of educating young people.

There’s a lot of things that should be taught in schools that are not.

And I guarantee you that only about 2-3 out of a class of 30 Middle Schoolers would get the gist of it, or even care. If you're lucky.

We all need to support Ukraine war.

Sounds like the movie FARGO

@@dont3222 no we don’t

I don't feel sorry that any of these larger dealerships are under "pressure". They have been beating the common man over the head for the last few years under this fake inflation model they are claiming has sweeped the nation. They got the chance of a lifetime to finally put the hurt on the customer and they didn't even think twice to raise their prices. They thought these used beat up vehicles were sometype of trade able commodities. Now they are worried. Rightfully so. They probably are hoping their will be some type of auto bailout. Just like these greedy banks which mis managed so many peoples investments. Just imagine these out of control prices they have been charging lately, I can't even fathom how many people they over charged. As well as people who have been ripped off for their recent home purchases. It's just plain and simple wrong and needs to come back to reality. I couldn't be happier

@@siberian5089😂

In the '80's, under wonderful Jimmy Carter, I remember people sleeping outside of banks to get a 12% mortgage! Just like climate change, when the whole Midwest didn't get rain for 10 years during the '30's--important history is no longer taught in our schools!

Where can ya sign & buy!? Lol Gotta have decent credit out here in Upper Midwest..but they still moving lots of dirtbikes /ATVs & UTVs.

@Apple Account s Well ppl make more $ on average & credit flows easier now. Still homes became "investments" 1st & roof over everyone's head 2nd. Warped thinking got us here + greed. - NY

That's because when sales slow down, the easiest finger to point is at the sales team. "Y'all don't know how to sell." Is the go to excuse. Meanwhile, there is no demand, your inventory may be junk, or you just don't have the resources to get an ass into that seat.

It's time for us cows to take revenge! I never ate lion meat but it's time for us to get a taste.

Oh shit, what an analogy. On point

People leave the business because they don’t want to put in the hours. Your conclusion is ridiculous

Average people are like cows, oblivious.

At this point, budget cars are the way to go. No matter the time people will always need a forte, elantra, sentra etc. Best to hedge your bets on those from my experience.

At my local auction we sell cars for $500+ trucks for $1500+ so easy money 💰

The problem is if you’re only buying when you think you should. You’re gonna get killed. You got always buy. And it levels out. You’re down 2 cars if they sell. Now you’re gonna pay up for inventory cause you need cars now. Always buy and move metal

Cash is king again due to interest rates!

I’m a used car dealer in Vegas, I started a year ago and this month we sold 52 cars so far. Sometimes if you have an aggressive selling strategy you can turn cars in the subprime space. Everything is floored , but I don’t take any money out and am slowly transitioning to a 50/50 cash flooring split. If you don’t have a bunch of money like me then you need to use floor plan companies to build the inventory to sell.

While watching this video I was wondering the same thing. Why would dealers send a car to auction where it would presumably get the lowest price, rather than lower it some and sell from the lot?

Hit the dealer sent the cars to the auction they get a check for the full amount couple days of it selling. Then there's the other aspect that if they sell one vehicle of a sudden four-way last and where they had it offered for and there's other comparable vehicles there that had the same higher price will the community in that area then expect that same deal then at all the prices across the board to that vehicle their perception of the value now that is lower when really the dealer might just be wanting to have some cash on hand why they continue to perhaps not lose so much on the rest of the inventory.

​@steadGang When they sell the car to the public, the sales price gets reported and that lowers values for that model. Therefore they have to balance that effort and for a small dealer that has to micro manage inventory

Because we are the little man - the working man - the poor man - and the bottom of the barrel 😂- we always get screwed by the government by our job and by the car dealer - it’s the way of the world 😂😂😂

They want it both ways. Get cash now and limit the impact of lower prices in their area.

We sell passats for 1800 at my auction

That car in my market lowest trim with those miles is 4-5k Kelly. New cars are hard to get still, I’ve been looking. Interest rates are higher now. People don’t have cash. In the end someone will finance that car and put 2k down at a high APR with a low credit score. It’ll get repoed, rinse and repeat 2k down payment. Car pays for itself.

What's your dealerships website I'm looking for a new vehicle

@Don Robinson You're 100 percent correct. I quit the business about 10 years ago when the big boys got in and were driving the prices up ABOVE RETAIL at all my watering holes. I understand their model was to sell a 4k car for 8 grand to low credit people, but it Still didn't work. There's still shipping and preparation costs. And once you report it there's ANOTHER repair bill....their "business model " had NOTHING to do with cars and EVERYTHING to do with the stock market.

that was a tdi!

I make my profit at the purchase

That is true for every purchase, you make the money when you buy. It has worked well for me in real estate. The very reason I don't smoke, drink alcohol or attend overpriced events, the fun is not worth the cost. I put all my extra cash into an account so I can take months or years off work. 🙂 That is real fun. The guilt of friends and family, insists you are losing money when you are not working. Silly thing is, they are losing money, while pretending they are enjoying themselves. Jealousy. I considered myself semi-retired the year I graduated high school, in 1973. I am well off enough, I won't start collecting any pension for another three years, when I turn 70. PS I have personally owned 200 vehicles, half I flipped for a profit.

It's not like a job just because you put the effort doesn't mean you get paid. Numbers have to be right. Car has to be dependable and previous owners couldn't be a POS.

Do you usually know what your retail price will be before purchase? or just hope to get it as low as possible from the purchase and price it accordingly after car has been gone through?

@@chrissoto1657The max to realistically sell would be book retail value, since despite all the “Only buy an old Toyota in cash” advice everybody gives, most retail buyers still finance their purchases unless the price is so low that it becomes a cash car. But even cash cars have a book retail value for insurance purposes.

Used cars* new dealers can regulate prices

@@FlyingWheels True. You got me there. I thought about that shortly after I posted. Thanks for sharing trends as you notice them. Great info.

Correct. No crash coming in prices. Basic affordable transportation is disappearing since manufacturers are focusing on high end and EV vehicles. This will trickle down to the used market. Good luck finding a work car or safe reliable transportation for your daughter to take to college.

@@FlyingWheels and as used prices moderate/fall, that will put pressure on new prices especially dealer markups. I'm waiting for the return of factory rebates. I think it is coming, maybe a year from now. One can argue that the Tesla's $20,000 in new car pricing is like a massive rebate.

@@FlyingWheels Fact-checker; TESLA EV market crash. NOT really. It's about having the best marketing strategy ahead of any market condition changes. Tesla by design have positioned their infrastructure line production where they can produce EV at a lower cost, therefore they can make price adjustments high or low and still profit and that's something the competition can't compete without facing additional profit loss.

Lmao, Yeah, is Craig wonderful? He’s just out walking genius. We’re all so dumb. And he is so smart.

No the tables have not turned. It may a little bit for a Porche but not average cars for average people. Prices will stay high for the foreseeable future

Still be 6 months + before dealers lower their prices. I’ve been watching these “market is crashing” clickbait videos for 6-9+ months and yet to see any dealers actually reduce their prices.

3 years ago i got a new 2020 ford ecosport 4WD for 19K after a 7K rebate. That was during the covid hype. Anyways, i know it's not the greatest vehicle but I've put almost 100,000 miles on it already and it's never broken down once. Haven't even changed the brake pads yet lol. Almost zero maintenance so far. Guess I was one of the lucky ones during covid.

Don't know any HONEST DEALERS and never have, and I am over 65 and had been in the automotive industry for more than 30 years. Not now though since 1990.

When cars cost more for consumers they cost more for dealers. Where do you think dealers get cars? Either the manufacturer or consumers trade/sell them. Manufacturers, in some instances, were actually charging the dealer to sell cars when the market was good. He gave the example of dealers paying too much for cars... Did you miss that part? People somehow forget that a dealer has to actually buy the cars, the cars weren't born on those lots. Even when things were rocking they might have seen 5-6% gross profit. Do you complain when Walmart makes double on a bag of chips?

It's like having sympathy for the realtors who wallow in the market as the bubble forms and cry when the bubble bursts. Cry me a river.

A very naive individual.

Houses near me dropped from average 850,000 to 550,000 for the month of September.

That’s why you should finance for 8 years ….

That fixed mortgage is going to keep all the preplanners safe!

I only got 3.45 and that was a ReFi rate.

time for a repeat!

I don't think classic cars will get hurt nearly as much as regular cars; as they have been in our dreams since we were young! Cheers!

I don't think classic cars will be hurt much by the current market. They've been in our dreams since we were young!

I just got one! No issues. Have your financing already lined up ahead & go for it. Got a good deal to boot on high selling SUV. They wanted move the metal I guess.

Your right... unfortunately!

I disagree, manufacturers are getting tired of dealerships so they will turn to a cheaper more simple style like tesla it just won’t be as fast as he predicts

I would definitely be interested in something like that. Let me know if you remember the name.

I know the Indian company mahindra sold a small willys like thing with available diesel, locking hubs, and stick shift; but they got sued by Jeep and stopped selling it really quick

@@AimForTheBushes908 I've looked and looked and can't find a thing on this little truck. A friend of mine at work showed it to me on his laptop. It must have been 15 years ago or longer. I think it was Jeep and I want to say it was called a Gladiator. Neat little truck. They could sell millions of them.

@@WhysafraidofCauseI'd love to find something about the truck. This thing looked like my 59 Willys pickup but shrunk. Like wet wool in a hot dryer.

same in vegas too....greed to the max. even the facebook marketplace hoopties are grossly over priced

Yup, auction prices are still high from what I’m seeing. People are still overpaying banking on grabbing that tax refund check people have coming. Tesla dropping prices also has lots to do with qualifying for tax incentives too. But who knows

Same in California

10% is nothing, Tesla is more like a 30% or was until Biden passed the 7500 credit, prices all went up $8000.

Exactly

People / businesses are spending way more money than they earn. It’s only a matter of time before they take a hit.

The definition of recession apparently changed under the clowns in charge so I guess we will keep waiting to see when it's just too undeniable.

We are already in a recession. Most people just don't realize it yet

Can we be friends ? I live in Illinois

Great story, did he accept your offer? I think you played it smart

So you went $5,000 over his $15,000 Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah Bahajahajajahajah

Beautiful 😂

@@reaumursebastopol 🤣

Princes are coming down here in Idaho. It's only a matter of time.

4200!! That is for a million dollar plat. I am seeing prices drop is WA but only over the last month. Expect corrections, 900K houses that sold for 1.4 million last year will sell for 1.1 now.

The sub $2k private market is non existent. I think he's mainly talking about 6 year old and newer vehicles that bank will loan on

I'm in the market for the same thing you are too.

No one will be buying gas cars in the next 5 years (unless they are exotics). S-Curve disruption - look up Tony Seba's videos if you aren't familiar with it.

He overcharges for his cars so they NEED to. Hes priced way to high STILL.

@@ILOVEBACONBOY2018 Plus most his cars are crap.

I offered 15k for a 20k car once... wouldn't compromise....got it for 15k... that was many years ago though

There will always be low ballers. Get used to it. You're not obligated to accept their offer.

sadly, those mark ups are what kept them in business.

They might go out of business wether they sell the car at 88k or not. If they no longer get a volume of autos to sell in order to pay for their cost by volume or no not.

NOBODY MAKES PEOPLE BUY THESE CARS GENIUS

It was supply chain problems. Supply goes down, price goes up.

What state In Los Angeles It's extremely hard

All good info here!

Yeah, it really sucks when the department of revenue catches you cheating, and he have to pay what you should’ve paid to begin with. That sums you up in just a few words. You were one of those dirtbag dealerships.😂😂😂😂😂😂😂😂

Don’t waste your time paying for any of Craigs courses. All of the information contained in Craigs courses is available to you for free. If you do your own research, this guy is mean business is a grandstand grab for other people’s money. You just haven’t figured that out yet.

@@paulh1745 So true!

69k??That's still a lot of money for a truck. Is a transformer?

Dont assume that, car dealerships can still find the right cars well under market value and put them on their lot with a mark up at market value. That is what is actually going on right now. If they wont come down on price say even 500 bucks, shake their hand and say well you will think about it because there are a few other cars in town at another dealership you are looking at and they wont call your bluff. Dealerships are desperate to move.

No it's not. There isn't a price crash coming.

Unless idiots are willing to buy stuff that isn't worth the price.

@@lot2196 Craig literally said it in the video

The dmv somehow I would think ?

A Carfax will show the history of the car (when is was purchased by the dealer).

You seem really good at identifying trends. Hopefully you're even better at recognizing sarcasm.