INSIDE THE CAR MARKET APOCALYPSE! CARMAX CRISIS!

INSIDE THE CAR MARKET APOCALYPSE! CARMAX CRISIS!

In this video we talk about CARMAX. I take you to CarMax's lot and show you just how full it is and how expensive their cars are. It's clear that CarMax is in trouble and their prices aren't sustainable! I also talk about what this mean for the car market as a whole.

My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.

Thanks for watching and please feel free to leave any comments you may have in the section below!

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*None of this is meant to be construed as financial advice, it's for entertainment purposes only.

#UsedCarMarket #CarPrices #carmarket #usedcarprices

[Mark-sihf]

you have been making doomed videos for last 2 years but the price of a new vehicles in my area has not come down. These folks will not cut the price down and are not desperate to sell. I have been waiting for whole year to buy a new car at a low price but so far nothing has come down. So, where do you live and where is all these dealers who can sell and cutting the price like crazy?

[lot]

Wish I had a dollar every time one of these guys declared the end of Carmax and Carvana.

[CHKNz]

Every week the same message…..nothing changing……lemme know when prices fall. I’ll buy.

[dougsheldon]

And that 35K Tacoma will still be there next year.

[balkarbisla]

I work in sales at CarMax. I sold 3 cars yesterday at work. Yes, the overall market is slowing down, but CarMax isn't going anywhere. These YouTube gurus have been calling CarMax's demise for the last 2 years. There are A LOT of people who love CarMax's business model.

[yummdiddy]

I would never pay 30k for a car with 100k miles

[FegaroScheu]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[MathiasJarlson]

People don’t want to buy new tundras because the engines are EXPLODING

[charlesmak]

Credit Card interest rates for a car note is absolutely ridiculous.

[SirAJentz]

The other day, I saw 3 vehicles broken down on the road. That let's me know people are driving until they break down, don't want to get into debt, or can't afford 1K in monthly payments. I am sure mechanic shops are booming.

[isaiahhardie]

2 Ram dealerships near me and not one Ram 2500 for less than 65k. I will wait....

[mic-drop-]

During covid, CarMax gave me 22k for a 2016 Wrangler with 151k miles. Thanks CarMax.

[tpbl]

Remember coming across this channel in early 2022 with the same message, is it almost time??

[ChadHargis]

Love these guys who say the market is collapsing. As if car dealerships don't watch the market and know what they are doing. Carmax is making a damn fortune. I'd venture to guess that much of their income doesn't come from car sales. It comes from a little income stream called Carmax Auto Financing. Just like McDonald's corporate doesn't make money off selling cheeseburgers, they make their money off leasing the buildings to franchises. These businesses aren't stupid.

[fatunclefishing]

Part of the problem is the big 3 have not made a good quality vehicle in about 7-10 years. I used to only drive fords, but I just recently bought a 2018 Tacoma TRD Sport because Toyota is one of the few auto makers still making quality vehicles.

[dennissvitak]

I knew CarMax was in trouble when they started buying every used car in sight, and paying darn near MSRP for them. When the stimulus money ran out, so did the buyers, and the market, predictably, died a quick death.

[williamosgood]

Most of CarMax's vehicles are rental car returns and off lease fleet vehicles that weren't good enough for dealer lots. Those Teslas you pointed out are undoubtedly ex Hertz rentals being dumped.

[mikelight]

and they said after what happened in 2008 it could never happen again. that is correct. it never stopped.

[motoxman]

I live in southwestern Pennsylvania and I see absolutely NO dealer in my area that is willing to negotiate the price on a new vehicle. I don’t see a large inventories and I don’t see any reset in the market. What I do see is a lot of new trucks and cars driving around. I love your videos and watch them all the time. I do see high prices and but I don’t see any dealers around here suffering or bitching about not being able to sell. If I’m wrong help me out. Show me where I can get a decent deal on a new truck. These dealers around here don’t care and barely wanna budge off the MSRP.

[jasoncarter]

CarMax had a narrow window 2-3 years ago where they could have liquidated much of their inventory with some aggressive pricing. Now, they’re sitting on depreciating inventory they paid too much for and can’t even lower the price enough to sell without losing their shirts.