DON'T BUY USED 2020 2021 or 2022 VEHICLES: VERY OVER-PRICED, POOR QUALITY! Part 1The Homework Guy

Vehicles built during the Pandemic are proving to have tons of quality problems! Dealers are also commonly Sale Pricing them over their Original MSRP, overpricing them by 10's of thousands of dollars!
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With Titles like 11 Fake Fees, to Don't Say I'm Paying Cash at Car dealerships, and Car Shortage Crisis, and Car Dealer Says Bring the Car Back!... The Homework Guy Team publishes videos to help Car Buyers. Then we added Cash Buyer Negotiations, and Held Hostage at a Car Dealership, No Haggle One Price Car Dealerships, How Much do Used Car Dealers Pay for Cars?, and Costco Auto Program. We hit all the topics!

A CAR DEALER WANTS TO:
1. SELL every car for the Highest Possible Price.
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4. OFFER Lowball numbers on every Trade Vehicle.

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3. DECLINE Dealer Fees and Finance Products.
4. TRADE / SELL their current vehicle for the Best Value.

For more than 40 years, dealerships have EARNED their lowly reputation by being the masters of predatory selling. Dealers stalk victims relentlessly, often ruthlessly treating the most vulnerable car buyers (like seniors, for example) with little or no conscience. Car Dealers and their Finance Officers have no problem creating financial devastation for their customers with over bloated car loans, and quite often do. We point out the traps and the flaws of the process, and help car buyers get through the nonsense without being ripped off. We promote fairness, honesty, and transparency. Join our mission!

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[beltycat]

I’m glad you mentioned the poor quality of dealer service departments

[arthurl.]

Toyota and the Lexus usually don't depreciate the same as other vehicles like Hyundai for example.

[ex]

I knew a guy who worked at a major car dealership who’s clientele were mostly seniors. He couldn’t stomach the daily ripoffs he’d see every single day and quit out of disgust.

[timg]

If you want to know what to pay for a used vehicle just go online and get a buy bid as if your trying to sell it, this will be an eye opener

[Warhorse]

I work for a large auto parts distributor. What you are saying is 100% correct. We're already seeing people replacing parts on these newer 2020+ manufactured vehicles. We also deal with a lot of dealers, and the amount of warranty repairs for all brands is significantly higher than it once was. I wouldn't touch 2020+ vehicles if they were given to me. They are overpriced junk.

[roubinekibinian]

Excellent and very accurate video . Regarding the dealer mechanic issue is 100% true . A friend who is a master mechanic informed of the bad and inexperienced talents being hired . Also paying fees to people who bring in mechanics from other shops 🤷‍♂️
Thanks for the video 👍

[TheLifetraveler]

I really like your videos. Once you've been shopping around for cars. It is easy to be convinced that the higher prices of used cars is normal. You bring us back to reality. I'm looking for a 2018 Honda Accord xle, and I am seeing prices that are equal to a
new one.

[emmapeel]

Also remember the floods down south. Lots of water damaged vehicles peppered in with repos and this mess =(

[jeffreyblanton]

We are beginning to see some better deals out there. I just picked a 1 year old Ridgeline with very low mileage for 10k less than the MSRP on a similarly equipped 2023 model. I think it depends on what type of car your looking for. The longer you can hold out the better.

[ahmadghosheh]

That's true. Prices of used cars, 1-3 years old, with 24K mile+ are within $2k-$5k of new one. Doesn't make sense. Worst with Toyota with the shortage of new cars and long waiting. Kinda buy it now at high price or wait months for a new one.

[MegaTRoy]

Excellent information. Keep up the good work.

[mmfic]

Incredibly helpful video! For the last few months, I've been looking for a Toyota 4Runner in those exact years, and there is usually only about 10% depreciation from MSRP up to 3 years old! I know they hold their value, and things like this are market driven, but I'm still biding my time. I've always been a 'car guy', and I found you guys a few weeks ago... thoroughly enjoy your content and learning more about the auto industry. Thanks for all you do!

[youtoobe]

There are MANY consumers that would never check the original MSRP or question the dealer's asking price. Also, it would never occur to them to check out a new one vs. a 3 year old one for the same price. They would take the used one 100% of the time.

[mdk]

Always buy used vehicles, prior to the COVID-19 pandemic, most likely between the late-1990's and the mid-2010's. Thanks.

[seanhartman]

You were a bit misleading about depreciation. Market conditions determine prices and depreciation. I am not advocating paying these prices, just pointing out that your 20% rule went out the door when Covid changed market. Supply is the only thing that will bring back your formula to what it was. And it seems that the manufactures have learned this and are going to restrict days supply moving forward so as to maximize profit for themselves. Dealers will have to adjust and be better at managing their inventory. In the mean time, unless you HAVE to buy a car, your advise to wait a bit is the best solution.

[beekaye]

I totally agree with all of what you have said. One Month before the Pandemic I bough a 2020 Nissan Maxima Platinum fully loaded and certified with 7K miles for 30K. 6 Months later I was offered 39K for the car. Now shopping for my daughter first car and seeing some crazy high mileage cars. I told her to wait until October 2023

[turo]

A notable exception is the 2019 Rav4. It has been riddled with uncommon problems for Toyota's. Last fall I bought a new 22 at MSRP. A month ago I bought a 20 hybrid Rav Limited for $27775. I've seen really sharp price decreases the last few months. Just have to be patient if you can.

[MarceloLopezJr]

This is truth.... thanks Homework folks!!

[whocares]

The numbers you cite in your examples all make sense in the context of historical depreciation trends which applied to used cars. Unfortunately, there isnt ANYWHERE IN AMERICA where pricing of used cars are anywhere near where you say they SHOULD be! Where you CAN find those numbers is in the TRADE IN VALUES being offered for used cars. So now we get to pay way MORE than a car is worth if we want to buy one, while getting way LESS than our tradein would be worth when compared to the price of the car we want to buy. I guess the answer is to just get used to owning my 2015 Lexus RX350 which has a trade in of only about $15-16, 000 while that same car on the lots is selling for $20, 000 or so. Not happening to me. Keeping what i have.

[maryjwatt]

I didn't know the specifics of depreciation. Fantastic!