Comments by "Supernova" (@MrSupernova111) on "Lucky Lopez " channel.

  1. Crazy to me how people trash their cars. My last car lasted me 14 years. I did my best to keep up with maintenance and keep up the look of the car. Based on what you're showing us I would never buy a used vehicle in this market. Thanks for the video!
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  2. Interesting points but we both know that there are plenty of crooks in the automotive industry. The reputation is earned. Not only that but many auto repair bills are $1k+ per incident (especially with newer vehicles) and most people don't have thousands of dollars stashed away for auto repairs. This is why I learned to work on my own vehicle. I maintain my vehicles and keep them 10-15 years. It has served me very well.
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  3. Exactly what I'm thinking. I've been saving and holding out for a couple of years. If my car can keep going for another year I might be in luck. That said, I think the soonest we'll see meaningful price drops will be over the holidays but maybe not until late 2024. In the meantime. I keep saving.
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  4. Exactly! Hondas are having problem with oil dilution because they're more concerned with fuel efficiency than in making reliable and durable vehicles like they used to do. But a lot of new cars have all sorts of problems which make no sense compared to new vehicles 20 years ago.
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  5. Not gonna end well for a lot of people.
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  6. Sounds like a storm is brewing and those of us looking for nicer vehicles might be in for a bargain in the next 12 months or so.
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  7. Its going to matter if the car market starts a domino effect in the economy.
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  8. Yeah, Lucky completely missed the mark on this one. Many dealerships are willing to negotiate new prices. Repos are through the roof. I wouldn't touch a used car these days because many of those cars never had maintenance before they got repossessed. Also, the customer looking for a $15k clunker isn't the same customer looking for new.
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  9. I feel bad for good people losing their cars but hopefully this is beginning to a major reset which we desperately need. We're in an everything bubble and something has to give.
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  10. EVs. One of the biggest rip offs in the history of the auto industry! It goes to show the lack of financial acumen of most Americans.
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  11. Hey bro, just want to say thank you for the videos. I've been following your channel and others for a long time now. I listened and held tight over the past couple of years until this week when I purchased a new vehicle at a nice discount. I believe this would not have been possible 6 months ago and I feel pretty good about the discount that I got. Without your channel and others like it I would not know the best time to enter the market and what kind of pricing to expect. Thanks again! Cheers!
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  12. Newsflash. They already have. I got a new car below MSRP at the end of last year. Many dealerships will negotiate with you right now.
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  13. I cut my insurance in half when I left them years ago. I bought a new car recently and called them for a quote. Nothing has changed and they want information on everyone in the household. That's a big no for me. Progressive is a scam.
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  14. Hilarious! Maybe get more aggressive with them. lol
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  15. Not only are new cars unaffordable but many are junk.
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  16. '08 Accord with 160k miles. Owned it since 2009. But I don't think this clunker got much life left in it. Done my best taking care of it but that generation was probably the worse for Accords. Might be in the market for a new one in December.
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  17. How did carmax cause this problem?
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  18.  @Johnny-bm7ry  . How old are you? You must of not experienced the multiple recessions we had in the last 25 years. I recommend you study some economic history if you think the US economy is infallible.
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  19. Holy smokes!
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  20. Nice! A storm is coming and the dealerships will have to budge soon or later. My guess is that dealerships will start to buckle by the end of this year or by next summer at the latest. They can't hold out forever. I continue saving the equivalent of a monthly payment each month so the longer it takes the more I can put down on the car. Currently, I have more than enough but the dealerships are getting a dime over MSRP from me.
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  21. They probably waiting until the last possible moment to lower prices. They're playing a dangerous game.
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  22.  @alexlaw1892  . I bet you think house prices will also go up another 30% by end of year. Clueless!
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  23. I bought a new car this week and also saved a lot over the past couple of years. In my case, I saved 50% of the out the door price for an Acura. Couldn't be happier with my decision to wait these two years. I almost feel like I could have easily gotten a trim upgrade but I'm saving saving for a house as well so I have to spend my money wisely. Enjoy the Corvette! Cheers!
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  24. Bought a new RDX in New England this week at a nice discount. Plenty of Acura dealerships to choose from. Test drive the car, make an offer, and make the dealers compete with one another. I got several thousand off a new 2023 model with only 13 miles on it. I had 4 dealers reaching out to me at one point before I got the deal I wanted. I had cash in hand, an old clunker to trade-in, and was ready to close the right deal on an instant which I eventually did. Go get yours! Lexus wasn't so accommodating and I don't like their nickle-and-diming pricing. Not worth messing with Lexus unless you want to spend more. Good luck!
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  25.  @justacinnamonbun8658  . It takes a whole 30-60 minutes to change engine oil from start to finish a couple of times a year. EV owners are delusional.
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  26. Agreed!
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  27. Screw them!
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  28. I think extended warranties on used cars are a waste of money. If you're going to blow $4k on an extended warranty you might as well get a new car which comes with a warranty. A new car isn't likely to break down in the first few years of its life as long as its maintained properly.
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  29. Great breakdown of the situation. I've been saving and waiting for two years now. I'm hoping things change over the next 12 months.
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  30. 6-12 more than likely. But maybe as early as December for nice discounts.
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  31.  @charleshaggard4341  . Good point!
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  32. I'm waiting for December to jump in the market. I'm looking for new so I'm assuming any discounts I get will be minimum. My biggest concern is to get the vehicle I want below MSRP and if I can negotiate some freebies then great. Thanks for the educational update!
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  33.  @PassportBrosBusinessClass  . That's what I say! The greedy dealers will crack eventually.
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  34.  @unrulypeasantr3911  . Everything is fine until it isn't. Best to be prepare and proceed with caution.
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  35. Did you just compare common thugs with college educated people? Clueless!!
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  36.  @glevii  . Not everyone wants to be a plumber nor should they. Next time you go visit your doctor left him know he could have been a plumber and saved tuition money.
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  37. Fine with me. I don't plan to make payments for more than 1-2 years. My plan is to make a large down payment and pay off the rest at an accelerated rate. Interest rate will have little effect for me.
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  38. Similar situation here. I've owned my Honda for 14 years. Its time for a new one. The clock is ticking but the clunker got some life left in it. I'm holding out. I'll try to get a new vehicle in December. If prices are still out of control then I'll try again sometime in 2024. I can't pay for my next car in cash but I have more than enough for a large downpayment.
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  39.  @SmartPracticeSuccess  . That's exactly what I plan on doing. I do most of my own maintenance as well and properly maintain my vehicle which is part of the reason I have kept my current vehicle as long as I have. I estimate that I can put down half at the time of purchase and comfortable make payments for about 2-3 years without cutting into other aspects of life. Thanks for the encouragement. Cheers!
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  40. Student loan payments start next month. People are broke due to all-time high levels of inflation. Personal debt is at all time highs and many people are or will be underwater in the vehicles they overpaid over the last couple of years. The party is over. If car prices don't adjust by the end of the year they will by next year. Those with a reliable car would be smart to wait it out. The greedy dealers will crack eventually.
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  41.  @jackhammerpka  . My type of job isn't susceptible to market forces like many other jobs. The entire economy would have to collapse before I lose my job.
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  42. I bought a new car a couple of weeks ago. I was pre approved by my bank and the dealership beat my bank's offer. Nobody asked me for any proof of income. Test drove the car and closed the deal the same day.
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  43.  @ToddRGuy  . That's the part that matters! Anyone thinking that prices will continue to go up into infinity is clueless!
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  44. Here we go!
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  45. Looks like the first domino is about to fall. 2024 should be fun! Let's go!
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  46.  @dickensider6049  . A lot of these cash only people have no clue how to manage money. They don't understand how to do cost-analysis and much less risk mitigation. Their only solution to expenses is to pay cash. Sure, they live within their means but they leave themselves open to liquidity risks and leave money on the table that they could have earned through investments. Best to ignore them.
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  47.  @dickensider6049  . A lot of these cash only people have no clue how to manage money. They don't understand how to do cost-analysis and much less risk mitigation. Their only solution to expenses is to pay cash. Sure, they live within their means but they leave themselves open to liquidity risks and leave money on the table that they could have earned through investments. Best to ignore them.
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  48. I don't see how banks can stop giving out loans all together. They are in the business of issuing loans. I think Lucky nailed it when he said terms with tighten but that's different from a total collapse in lending.
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  49. Nice!
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  50. Not happening. Interest rate will be at least 8-10%.
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  51. If it takes $120k income to purchase a new car the whole industry will crash overnight. Sounds like bs.
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  52. I look forward to deflation though. I have plenty of savings and when the time is right I'll be scooping up some cheap assets.
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  53. Oh yeah, Reagan, the con artist that robbed social security, negotiated with terrorists, and tripled the public US debt. You might as well quote Nixon who took the US off the gold standard in 1971 and put us on the trajectory that led us here. Or maybe you worship Bush Jr who started two wars at the tune of trillions of dollars. Talk is cheap.
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  54. Same.
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  55. That's ridiculous!
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  56. Sorry, but you missed the mark on this one. The idea to purchase used instead of new seems backwards to me in the current market. Dealers can't sell new so they will have to budge and discount those new vehicles. Currently, we're seeing record repos. Many of those repos had no maintenance prior to being reposed. I wouldn't touch one with a 12 foot pole. Also, the customer looking for a new car isn't the same customer looking for a used clunker under $15k.
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  57. Scumbags!
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  58. How much of a discount do you think a customer for new Honda/Acura could expect in best case scenario once market nosedives?
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  59.  @Aki_Lesbrinco  . Awesome! I'm thinking about jumping in the market in December. I realize the market is not great right now and anything under msrp seems like a good deal these days. I'm looking for a black RDX A-spec in particular. Thanks for the reply!
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  60.  @gabegonzales8618  . That's what I plan on doing. While fools were getting into massive debt over the pandemic I have been saving diligently every month for a new car. I have enough to purchase my next car in cash. I'll take out a loan strictly for negotiating purposes then pay off the car over the next couple of months. I've been waiting patiently and I won't pay a dime over MSRP. Dealers will buckle before I will.
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  61.  @ronniedale6040  . $5k is nothing. Many people are ready to buy a new car in cash when prices stabilize and come back to earth.
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  62. You fail to understand that market cycles take years. Not weeks or months.
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  63.  @MickeyDonald  . We're looking at an economic crash in 12-15 months from now - possibly sooner. Not at some point indefinitely in the future. But do as you will while the rest of us prepare and brace for impact.
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  64.  @MickeyDonald  . Sounds like you have a limited understanding of economic cycles if you think we need to time the market to make financial decisions. I work in asset management. How do you think we produce market outlooks and make asset allocation recommendations to wealthy clients and institutional investors alike? Anyway, good luck!
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  65. Pretty sad that an accountant equates everything to partisan politics. Stick to accounting and cut the political mudslinging. All politicians are corrupt. Even the ones you worship.
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  66. EVs are disposable and will absolutely not last upwards of 16 years. Be careful on your choices and research EVs well before you get stuck with one.
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  67. Sorry bro, you're seeking empathy in the wrong place. I'm here for auto news. Not small business news. That said, the only people that will suffer are those that refuse to save and business that are otherwise insolvent anyway. The rest of us will weather the storm.
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  68.  @cberg2655484  . Math is hard. lol
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  69. We'll see about that.
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  70. The economy just needs a light breeze to tip over. Give it time.
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  71. Does a typical computer cost $50-$100k?
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  72. Give it time sucka.
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  73. This makes a lot of sense. I hope we see a correction soon. I've been waiting to purchase a car for two years now. My car was paid off years ago and I've been saving every month for a new car. At today's prices I was thinking about waiting another year to purchase a new vehicle. But if there is big correction then I might jump into a new car this year. I buy to keep so I'm only considering new at this point. By the time I purchase a new vehicle I'll probably have 50% of the car value as a down payment. That's the only upside out of this crazy market.
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  74. Great review of financial nuances of auto lending. I'm one of those that has been waiting and saving for a new car for 2 years. I keep my cars a very long time and I'm just looking for an entry point into the market. I'm not going to pay a dime over MSRP. If I'm lucky prices will come down over the next 12 months. Thanks!
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  75.  @SmartPracticeSuccess  . Nice! I'm in a similar situation and will likely be in the market in December 2023 for a new car. 2024 models are already marked up $2-$3k so there is no point in waiting longer hoping for a better deal. I have enough in savings to put down as much as 50% of the car value and good credit so not worried those aspects. Also a Honda/Acura customer here.
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  76. A storm has been brewing for a while now and its going to pop soon - likely by next year (post elections). Lots of people are going to get hurt. I hope people are paying attention and start saving as much as they can.
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  77. As a consumer I say let the cars rot on the dealership lots. They've been taking advantage of their customers since the pandemic. Its time for many of them to go out of business and prices to come back down to earth. Smart consumers will continue saving and if needed continue working on their credit score so they can get the best deal when the time comes.
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  78.  @scottmichaels12  . Same here. I want a new car and I can afford it. But I'll keep driving and maintaining my 15 year old car until new prices come down to reasonable levels. $1000+ monthly payments is crazy to me.
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  79. Scumbags!
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  80.  @LuckyLopez777  . I'll be patiently waiting!
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  81. Bernanke said all was well too before the 2008 crash.
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  82.  @JoeMcMorrow-k7e  . The problem is not just mileage. Batteries wear over time even if you don't use them. Eventually, they lose their ability to hold their charge. I know you've own battery operated gadgets before. Don't act like you don't know this.
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  83.  @roman9762  . Yeah, sure... Go ahead and buy your replacement aftermarket ev battery and let us know how much it cost AFTER you get it. Clueless!
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  84. Nice! I did the same. Except my last car was an '08 Accord which I bought pre-owned in 2009. I couldn't wait any longer so I bought a new car last week at a nice discount. I do my own maintenance short of an engine overhaul. Luckily, my new car has 2 years of free service and 4+ year warranties. This new car will be babied and I expect it to last me many years to come.
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  85. Wow!! I was seriously considering getting one of these brands and after doing a little research I realize that I could potentially be making a serious mistake. I'm going back to more reliable vehicles even if they cost more. Thanks!!
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  86. How do you purchase a car from Hertz?
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  87. Carvana will be absorbed by another large car seller to minimize the impact of excess inventory suddenly hitting the market. Car prices will probably normalize by the end of year. By Summer I think we'll already be in much better shape.
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  88. Wait.
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  89. Congrats!
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  90. Neither!
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