CAR PRICES CRASHING But People REFUSE To BUY

Car prices are falling back down to earth in a steady decline from 2021 peaks. But that's no relief to consumer wallets, as car affordability remains low.

But overall, car sales have flatlined despite recoveries in both pricing and supply. In this video, the real reason car prices are down but why you still can't afford one.

[jeffhadley]

High auto insurance prices
High interest rates
High sales tax
High registration costs
High car prices

[TNKHART]

I don't see any price drops in my town.

[MJA]

$58, 000 for a crappy Pacifica still aint cheap enough

[Kuweiyo]

Prices arent low brother. They are low in comparison to what they were a few years ago, but not in comparison to how much people make

[MuahMan]

Until they crash 50%, they won't sell. They doubled the price the last 4 years.

[johngerwig]

#1...I don't see prices moving down in my area, at all.
#2...Any sane person should be able to figure out why nobody wants to pay $90k for a pickup truck!

[richardrybarczyk]

When the dealers decided to add 10 to 15% to an already bloated MSRP they lost me as a customer. I’ve bought my last new car, isn’t worth the aggravation with the dealer.

[BrianNC]

As I get older I care less about driving a newer car. It becomes more of an appliance sort of like a dishwasher - you don't generally buy a new dishwasher until the old one breaks, stops cleaning the dishes, and is too expensive to fix or you can't find parts to fix it anymore . My daily driver is a 15 year old diesel BMW with 161k that runs perfect. I'll drive it until it suffers a catastrophic failure and then buy something else. My philosiphy is if I get at least 15 years of use out of a vehicle, I got my money worth. Anything extra is bonus time.

[IceManLikeGervin]

Car prices are allegedly crashing (but still above pre covid level pricing) and dealerships are still adding on extra fees on top of extra fees like it's going out of style.

[stephendunton]

I am 63 and retired. I only ever had one new car when I was 26. After that I never spent more than 20k on a car.

[bonniekaufman]

Interest rates are still just too high for us to buy right now even with good credit…..

[jameslung]

Car prices are high for one reason only: credit lines. People are overleveraged and so car prices are inflated. In the past, people didn’t dare sign off on such long loans except for homes. Now, people do it for cars and even vacations! The only way this resets is with a car loan crash just like what happened to homes in 2008.

[josephkelleher]

It is because prices are still way TOO HIGH. It's not just the interest rates. I know that if I bought a new vehicle my car insurance would probably TRIPLE! In my opinion vehicles used to be depreciating assets. Now I believe vehicles have become depreciating LIABILITIES that are not worth owning.

[craighanks]

Don’t know where you’re at but in Central Illinois in farm country local dealer prices haven’t BUDGED AT ALL so where are you getting info prices are coming down? They’d have to drop at least 50% for vehicles to be affordable again.

[adonisduque]

I'm not buying due to reliability concerns

[bprince]

Homeboy cars are still expensive I have no idea what you’re talking about

[jayson]

Car prices need to come down 30%, Stellantis products need to come down 50%.

[Livefreewhileucan]

After 5 yrs of consumers being bent over by dealers. Payback time. Cant wait till they all close the doors

[mrpmj]

i just traded in my 2014 Toyota highlander for a 2024 Cadillac XT4….love it!

my other car is a 2017 Corvette with stickshift

[RysterARCEE]

Where are all of these supposed supplies of cars? Trying to find a Honda, Toyota, or Subaru is a challenge. Then trying to get a discount on one is even more of a challenge. Someone i know put a deposit down for ROFR on a 2024 Prius. The car arrived last week and they went to look at it. Dealer told them they weren't sure they would be getting ANY in 2025, so if they refused it might be two years before the next available unit arrives. They still refused it despite the warning.

There are plenty of Jeeps, Chevys, Fords, Nissans, Mazdas, Hyundais, and Kias. Very little discounting on any of them other than the Jeeps