Car Dealership Guy
@GuyDealership
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Transparent insights into the car market. Featured in Apple News and NY Post. Host @CDG_Podcast | Jobs | DM submissions
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After 2 years on this platform, the secret is finally out.
World Premiere of Who The F*ck Is Car Dealership Guy—Watch now:
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This morning I discovered something *extremely* alarming happening in the car market, specifically in auto lending.
I'm now convinced that there is a massive wave of car repossessions coming in 2023.
Here's what I discovered (and what no one knows):
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Car A: 🚙
$65,000
Car B: 🚗
$25,000
Both cars drive you to work
One keeps you stuck there
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Customer submitted this as “proof of income” when buying a car 💀 (friends picture)
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Incase you’re feeling useless, remember that there are more Fiat dealerships in the USA than actual Fiats sold in all of Q3.
(359 dealerships vs 145 Fiats sold)
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How do we feel about this? lol
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Whoever builds the Spirit Airlines of Cars will become a billionaire.
A vehicle that is simple, cheap and safe.
Roll-up windows and shit.
The market is craving this.
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People think you’re broke if you have a:
$10K 🚙
$1M net worth
But people think you’re rich if you have a:
$80K 🚗
$10K net worth
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We just had an 820 credit score get quoted 8% from Capital One and 10% from Ally for a CAR LOAN. Have never seen that before.
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I've said it once and I'll say it again:
Whoever builds the Spirit Airlines of Cars will become a billionaire.
A vehicle that is simple, cheap and safe.
Roll-up windows and sh*t.
The market is craving this.
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Americans falling behind on car payments at higher rate than in 2009
December 2022 January 2023
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If you have a:
$10K 🚙
$1M net worth
People think you’re broke.
But if you have a:
$80K 🚗
$10K net worth
People think you’re rich.
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Hi friends, some personal news:
Car Dealership Boy was born this morning ❤️
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The hottest car right now is NOT a Toyota or Tesla.
The hottest car right now is anything worth $7 to 15K (and in good shape).
It's what 90% of Americans can afford at the moment.
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Here’s a secret:
Some of the absolute best used car deals are posted on nursing home bulletin boards.
You’re welcome.
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The most dramatic price cuts the world has ever witnessed.
Crazy or genius. You decide.
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What you see:
Shiny new BMW M8
What I see:
84-months of $1,600+ payments
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This isn't a shitcoin.
This isn't a meme stock.
This is the average monthly payment on a new car.
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Market is literally FLOODED with Buicks.
They're rotting on car lots like trash.
You can score a deal on these if you're willing to suffer the embarrassment of being seen in one.
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If you have a:
$10K 🚙
$1M net worth
People think you’re broke.
But if you have a
$90K 🚗
$10K net worth
People think you’re rich.
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🤣
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People are not paying their car loans.
Auto loans delinquent (overdue) by MORE than 60 days are now up *26.7%* from a year ago.
Not a crisis just yet but watch this trend closely.
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My advice to someone buying a BMW with over 100K miles:
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My advice to someone buying a 2009 BMW with over 100K miles:
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Imagine you’re a 750+ credit score.
Now imagine you come to buy a car and I offer you 9% APR 🤢
I don’t need to say much more.
High rates are killing the car business right now.
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How to know your status in life:
Do you have any blank buttons in your car?
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Just in:
A major bank is rumored to be exiting the auto lending business tomorrow.
They have over 3,000 dealer partners nationwide.
Unconfirmed but from a highly credible source, as always.
Will keep you posted.
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Hot take:
@Twitter
can become the world's number-one podcast platform in LESS than 90 days.
Posting the
@CDG_Podcast
directly on Twitter grew my active listeners by *400%* in 1 week.
Why? Because people can listen without going to another platform.
Here are 5 critical…
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Many people have asked me to why I haven’t commented on the concerning auto loan data that just came out.
In case you haven’t heard…
The percentage of subprime auto borrowers 60+ days past due on loans hit a record 6.1% in September.
This marked the highest delinquency rate…
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Something very strange is happening.
Used car supply is at historic lows, yet we *just* experienced the largest monthly decline in used car prices on record.
But that doesn’t make sense — If supply is so low, prices should stay high… right?
Wrong.
It seems like between the…
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You better not miss a car payment:
Ford has filed a patent that would allow self-driving cars to drive away from owners who can’t keep up with their payments 🙃
While the patent is not yet approved, the future is most definitely going to be wild.
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Fascinating graphic showing political leanings of car owners
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What you see:
Shiny new Cadillac Escalade
What I see:
84-months of $1,000+ payments
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Carvana may have just quietly started liquidating:
The company is now advertising its *retail* inventory to *wholesale* dealers.
Look at the $5,000 price difference. Wild times.
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This is wild.
Fiat sold only 144 vehicles in Q2.
Less than 2 vehicles per DAY.
Throughout the ENTIRE U.S.
I knew the brand was dead, but didn’t know it was THAT dead.
(via cox automotive)
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9 out of 10 people who own a pickup truck don't actually need a pickup truck
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REMINDER
Super common mistake when buying a used car:
Not taking a high-speed test drive (60mph+).
Many mechanical issues can only be felt or heard at high speeds.
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On a call right now with an exec from a multi-billion dollar automotive company.
Asked him about electric vehicle sales.
His response:
“Tesla is the Apple of EVs. Everyone else is Android”
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Car A: 🚙
$65,000
Car B: 🚗
$25,000
Both cars drive you to work
One keeps you stuck there
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“I want a new Luxury car but also want to avoid expensive repairs”:
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Alright this is big news.
Used car prices fell 4.2% in June.
The second largest monthly decline in history.
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you’re not depressed
you’re just paying $1,500/month for a car you drive 2 hours per week
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2021 G-Wagons are now selling for around *$190K* at dealer auctions.
Down from over $260K just 6-9 months ago.
Nature is healing.
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Massive news:
Ford JUST announced that dealers must invest up to $1.2M and set no-haggle prices if they want to continue selling EVs 🤯
The dominoes keep on falling.
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Owning a car is about to get *really* weird.
Ford might be first but won’t be the last.
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UPDATE: Carmax sold 57% of its ENTIRE Tesla inventory in the past 24 hours 🤯
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Top 5 LEAST dependable vehicles:
Land Rover
Lincoln
Audi
Ford
Mercedes-Benz
(Source: 2023 JD Power Study)
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UPDATE: Ford has received this patent. 😂
You better not miss a car payment:
Ford has filed a patent that would allow self-driving cars to drive away from owners who can’t keep up with their payments 🙃
While the patent is not yet approved, the future is most definitely going to be wild.
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the salesperson that traded for this car gets instant legend status
At my local Honda dealership. 95 Accord with 2187 miles.
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$736 per month.
That’s the average monthly payment on a new vehicle.
And yes, it’s a new ALL-TIME high.
Ladies and gentlemen, we may be witnessing the peak.
(via Edmunds)
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3 years ago:
This was our last normal week.
No one knew it.
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Here’s a secret:
Some of the most amazing used car deals are posted on NURSING HOME bulletin boards.
You’re welcome.
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I've been a doubter, but after what I saw this morning, I'm now FULLY convinced that a wave of car repossessions will hit in early/mid 2023.
If lenders are willing to backstab each other in order to put more loans on the road, we're in trouble.
This will not end pretty.
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Used car prices are STILL 43% higher vs. Dec '19. Let that sink in.
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I’ve bought 1,000s of cars.
One way to test a car’s transmission:
1) Turn on the car, press and hold the brakes
2) Slowly shift gears in random sequences: Park, to Drive, to Reverse, to Drive, etc 🔁
3) There should be no delays in between or any "bang" noises
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1998 Ford Escort for $289 a month for the next 84 months 🤮
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CONFIRMED: BMO Harris bank is exiting auto lending
Just in:
A major bank is rumored to be exiting the auto lending business tomorrow.
They have over 3,000 dealer partners nationwide.
Unconfirmed but from a highly credible source, as always.
Will keep you posted.
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Cars that I won't sell without a warranty (even to my worst enemy):
Land Rover
BMW
Cadillac
Porsche
Mercedes
Audi
Jaguar
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A Ford dealer unhappy with Ford.
In 2012 Ford had 1.1M recalls.
In 2022 Ford had 9.8M recalls.
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Let's talk about last night...
I had an unusual conversation with a couple car dealers.
We didn't discuss cars, dealerships or EVs.
(shocker?)
Instead, we discussed America, the future of our country and the how it feels like peoples' values have changed.
During the…
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I WANT TO PAY YOUR NEXT CAR PAYMENT! 🤑
My new experiment. How it works:
1) Comment what car you drive and your monthly payment
2) Like, RT this tweet and follow me!
@GuyDealership
3) I'll pick one random person and payoff their next car payment :)
GO!
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Forget 0% APR…
Buy a Toyota and get a free 100 lbs bag of rice.
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you’re not depressed
you’re just driving a German car that’s leaking oil and out of warranty
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Carvana has 758 used Teslas in stock.
Prices of new Teslas just got massively reduced by as much as 20%.
When it rains it pours… 🥴
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Used car prices fell 14.9% year-over-year in December.
By FAR the largest decline ever recorded.
Here’s what to expect in 2023:
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What you see:
Shiny new Cadillac Escalade
What I see:
84-months of $1,000+ payments
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Teslas becoming the hot potato of 2023 was not on my bingo card 🤯
Prices of new Teslas just got abruptly reduced across the board.
Dealers with lots of Teslas in inventory are about to get absolutely wrecked.
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Used car dealers will shutdown in 2023 at the fastest pace since 2009
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We have some customers who make $350k/yr and have 500 credit scores. You’d never be able to tell.
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Tesla Model Y listed on Carvana for $12,600 MORE than a NEW one.
Carvana’s management literally asleep at the wheel
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Toyotas have the lowest supply out of any auto maker right now.
You can’t get them.
Otherwise this is a pretty solid strategy.
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Luxury car market is taking a beating.
Here’s a good example: 2023 Audi S8
6 months ago: $5-10K over MSRP
Now: $10K below MSRP
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Friend leased a new Range Rover in California.
His windshield broke.
He went to get it replaced at the dealership.
Dealer told him that these windshields are extremely backordered…
…and offered to fully take him out of his lease 😳
Have never heard of that before.
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Cybertruck is going to do massive numbers.
Not because it's Tesla.
Not because it's an EV.
Definitely not because of "the people's" love for Elon.
But because it's different... People want different.
In fact, the product itself is probably going to suck in many ways.
Why?…
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Who’s going to be the first honest car manufacturer to stage these pictures at Wholefoods and the daycare line?
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Wild stat:
In 2019, $23K bought a 3-year-old used car.
In 2023, $23K won't even buy a 6-year-old used car.
(via ISeeCars)
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That's all for now.
If you found this thread helpful, RT the tweet below to share it with your audience:
This morning I discovered something *extremely* alarming happening in the car market, specifically in auto lending.
I'm now convinced that there is a massive wave of car repossessions coming in 2023.
Here's what I discovered (and what no one knows):
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Sales manager told customer he got approved at 8% APR.
Customer got up and left pissed off. 🤷♂️
Lots of people are still not in touch with reality of the current lending market.
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“NOBODY KNOWS THIS BUT NEW CAR INVENTORY IS UP 74% FROM LAST YEAR”
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financially free 2023
no $1,000+ monthly payments
no leasing
no German cars over 60k miles
no markups
no 84-month financing
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CEO of Ford
Elon Musk
Me
Live on a Twitter Spaces.
Twitter is wild.
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