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

If it takes $120k income to purchase a new car the whole industry will crash overnight. Sounds like bs.
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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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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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Same.
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That's ridiculous!
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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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Scumbags!
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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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@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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@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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@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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You fail to understand that market cycles take years. Not weeks or months.
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@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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@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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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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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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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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@cberg2655484 . Math is hard. lol
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We'll see about that.
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The economy just needs a light breeze to tip over. Give it time.
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Does a typical computer cost $50-$100k?
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Give it time sucka.
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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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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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@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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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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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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@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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Scumbags!
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@LuckyLopez777 . I'll be patiently waiting!
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Bernanke said all was well too before the 2008 crash.
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@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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@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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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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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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How do you purchase a car from Hertz?
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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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Wait.
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Congrats!
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Neither!
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