Banks MADE A HUGE MISTAKE ... NOW THEY'RE DOING IT AGAIN

all right I didn't even have the audio one all right there you go hey here we go it's noon here in Ventnor New Jersey and we have audio now and this is news that you can use from Courage for Thursday August 10th with your hosts Zach that would be this guy and me Ray hey handsome you have so much energy today I love it it makes me so happy just want to remind everyone why do you lie to people I love it I think it's awesome you're 70 what 78 [Laughter] yes that's the ticket I'm 78 now I'm 72. 72 it's so good to see a 72 year old with energy like you all right here's the deal folks tomorrow we will be live I think at noon we're gonna be live from the dealership That's My Hope unless we hit traffic or something this weekend we're taking over up in Staten Island New York if you're on the East Coast come hang out with us either tomorrow or Saturday over at Staten Island or excuse me at Island Chrysler Dodge Jeep Ram and Subaru we've got the car Edge Sales Event our first one ever so a friendly reminder if you're on the East Coast come join us we'll be doing it live tomorrow and live on Saturday as well we've got those pre-negotiate deals super excited about it you got me working there you're working tomorrow and Saturday pops here's the deal for today we're gonna kick things off credit unions are where we're going to start okay the mistake that banks have made in the past yes is that they would lend on auto loans above 100 loan to value ratio that is correct and it's a mistake because you're making a loan worth more than the vehicles actually worth significantly more when people roll in negative equity things like that and we've been talking about more and more recently how banks are tightening their lending restrictions or you know introducing lending restrictions tightening their lending practices so they're they're lending on a more strict basis to their borrowers and then we get this this morning Dad Yes Credit Unions accommodate used vehicle borrowers with a large loan to value ratios and terms those credit unions are willing to approve financing on used vehicles even if the debt to Value ratio mileage and auto loan term are elevated and the down payment is low banks are making a huge mistake all over again credit unions are a form of financial institution this shocked me when I saw this headline and we'll dig into the data in just a second is this not what we saw over the past 18 24 months that has now led to what will likely end up becoming one of the largest negative equity crises of all time of all time ladies and gentlemen of yes um it it's it's to me it's a little surprising and a little shocking that I I mean I understand that that credit unions you know they owe it to their members and if you're a member in good standing then there's a rather strong likelihood that you're gonna get alone if you need a loan um but credit unions in the past have always been a tad bit more conservative than Banks because I think they have a slightly different fiduciary responsibility to their membership since it's their members money that they're lending um so I was I was a little taken aback by some of the numbers uh it would be nice if we could have a conversation with our dear friend Mike Dean yeah and ask them what's going on with his credit union and if and if this is the case look at this then how far these questions were sent to credit unions Nationwide how far will you extend loan to value on used vehicle loans we're not talking new cars we're talking used cars we're talking Credit Unions we're not talking Credit Acceptance Corporation Exeter Santander we're talking about credit unions 45 of respondents said that they would loan between 125 and 134 percent of value can you explain to it let's use a simple list here let me make this easier please 55 would loan anywhere from 125 to greater than 135 percent of value so more than half of the credit unions that that they surveyed said that they would lend well in excess in excess of of normal lending guidelines for Pre-owned Vehicles can you wow put it into perspective though let's let's say I want to buy a 10 000 used car yes what this is telling me is that the bank would lend up to a hundred or excuse me twelve thousand five hundred dollars or in some cases thirteen thousand five hundred dollars for me to purchase that car the reason that a ten thousand dollar car can become a thirteen thousand five hundred dollar car is when you add in potentially negative equity so I'm trading in my existing vehicle and I owe more on that than I already you know than it's worth the other would be taxes and fees a lot of people look at the advertised price for a vehicle online and they think cool I'm gonna buy the car for ten thousand dollars no your out the door price is likely going to be 10 higher yes so when you start to factor those pieces in not to mention extended warranties gap insurance things that that people end up buying that they may or may not even realize they're putting little to no money down putting no money down yes so what this is saying is that a an asset yeah Credit Union will lend on an asset that is maybe worth ten thousand dollars no no no no no no that's worth ten thousand retail it's probably worth somewhere in the neighborhood of seventy five hundred to eight thousand dollars wholesale real actual cash value so against the retail value of the vehicle many Credit Unions would lend up to 135 percent or more so let's say they did that let's say they wrote a loan that's for thirteen thousand five hundred dollars on the ten thousand dollar car that was purchased that is really worth calling eight thousand dollars so instantly there is fifty five hundred dollars of negative equity or fifty five hundred dollars that really has no collateral attached to it because the collateral that you're loaning against really is only worth eight grand so and then another hope that customer makes those payments what what makes it worse is not only are they lending more than they should but they're lending it on older cars with higher miles for longer terms so many of these credit unions and Banks you know are are financing vehicles have 75 000 or more miles on them and financing them for six or seven years yeah let's look at more of the data Pops I just want to address this one question it came and said how old is this survey well let's start there and then we'll look into more of the data the survey was from April 4th through May 5th and it involved 415 Credit Union professionals so that would be just a couple months yeah a couple months ago yes the study found that 64 of credit union Personnel were worried about over extension on used vehicles for 2023 more lenders were concerned about overextension than they were about Rising vehicle prices so even the credit union Personnel are afraid or maybe we're over extending ourselves what's the highest amount you will lend on a used vehicle pretty much everyone will will do 75 000 yeah fifty thousand dollars I should say that's but 59 percent up to 700 000 dollars okay now take it a step further 59 71 of those Credit Unions would do over yeah you're reading it wrong over 75 000 yeah so we've got 59 plus 12. 71 would lend over 75 000 we've got 19 plus 12 31 31 would lend over a hundred thousand dollars and 12 would lend over a hundred thousand dollars it'll end up to and then lend it okay so but am I correct that 59 would lend up to a hundred thousand we lend up to 75 000. okay whatever you say but it still sounds good it's good it does so those are shocking numbers what is your mileage limit you were just talking about this a moment ago yes 75 000 miles 16 of No Limit I mean these are hard vehicles to really understand the value of let alone it's the customer paying a fair value or we collateralized well how far would you extend the loan to value we were just talking about that how much do you currently require as a down payment I found this to be interesting 10 will go a long way it seems like Ted not really but 10 58 of these Credit Unions 10 will get you a loan approval uh but it won't go a long way in the sense that that it's putting you in it or the bank in an equity position um you know because 10 barely covers fees yeah exactly what is the longest term on a used vehicle look at that 28 of credit unions are doing 84 month loans talk about fitting people into payments that's exactly what so this was the this is the huge mistake the huge mistake was extending terms lending over outside of normal guidelines and what are we seeing it's data from I mean it was published today but it was from the past couple of months from credit unions which you would think would be more of the restrictive entities in all of this yes you would think they would be more conservative uh you know they're not they're not publicly traded um so they don't have stockholders that they're beholden to that they're trying to like if you're Wells Fargo trying to artificially inflate your your profit which is then going to come down dramatically when you pay the fines that the that the government levels against or levies against the answer yeah yeah so question for you Pops Bill wants to know can you buy a home with an LTV 135 like are there other Financial transactions where you can get this over extended um well I you know Banks always want to make sure that the home appraises for what it sells for um yeah I mean could you get a mortgage on a house for let's say a house is you buy it for a hundred thousand dollars or a hundred and thirty a hundred thousand dollars was the selling price but then you get approved for a loan a mortgage of 135 like I don't think that happens um maybe if you present them with plans for a a remodel or I don't I wouldn't it feels uniquely Auto is is how I think about it yes yeah here you go Steve is saying no mortgage lender goes to 135 percent yeah but they will on that car of yours baby some states LTV over 100 on a house is illegal like though you cannot yeah Justice or has been in real estate so there you go like I I think Auto is unique in this way and we saw Banks lending well above 135 loan to value ratio and now we're seeing Credit Unions come out and say you know what we'll lend over 100 125 135 again and I'm telling you man I was at the dealership yesterday getting prepped for the sales event this weekend you just hear it like I'm not listening in on people's deals but you can just hear it you can hear people say well we got to fit this payment I'm talking about customers I hear the customers say well my payment needs to be this and then the sales person saying well I can maybe try and get you a bot at an 84 month loan or even a 96 term it's just a bad cycle the the problem is that 85 of all customers are just payment buyers they're payment conscious that's all they care about I don't care I don't care what the term is just as long as you can fit this car into my 688 dollar a month payment that's my Max okay now if if push came to shove and and we couldn't quite get you at 688 how high could you go I wouldn't go more than 750. and that and and what happens is that they will just the dealership will work the payment amount you know where are we going to find the bank what bank can we use that we can get the most loan to value um keep the customer in a term that would that the customer doesn't even care what the term is they just care what the monthly payment is um you know I I used to have customers sometimes come in and go well what's the payment with the late charges wait do you want me to ask the bank that question when we call them to get the approval you want me to ask that question for you you know because they might revoke the approval and and and I used to say to my buyers hey I what's and when I mean buyers the buyer at the bank I used to say well you should be happy about this they're they're telling you right up front they're going to make you more money okay because they're willing to pay all those late fees you really have a responsibility to accept this loan um yeah it's you know we say it every day the three letters that mean the most to a buyer is otd out the door always work the out the door number then after you've agreed upon the selling price with all the fees and you know exactly what the total amount is then if you want since you're more than likely a payment buyer start having the conversation about payments and interest rates but not before you've worked the out the door number the New Direction not new but like one of these it's not a band one is not a boy One Direction one of the new directions there you go one of the new directions we're working on a courage are these sales events in building out a network of trusted dealers because we are essentially pre-negotiating the dealer discount and then validating that there will be no add-on fees no junk added on at the dealership none of that so we can't negotiate your otd for you because we don't know your taxes yeah zip code and the incentives are regionalized and things like that but we can negotiate a dealer discount for you and we can make sure that there are no added on fees and Bs and that is the whole premise behind the sales event and hopefully what will become just an Nationwide phenomena will have a network of dealers where you want to buy a Subaru Legacy the dealer discount is one thousand four hundred and seventy one dollars why because that is what the dealership agreed to with us when we negotiated that price and there was going there are going to be no additional fees or add-ons or anything like that I am very very very proud of this because it's difficult Dad when you go into that environment and I've been in the dealership more this week than I have been in a long time it's just pressure filled it's a little crazy it's a little hectic a lot so the best thing that we can possibly do is build out this group build out this network of dealers who'll say you know what for Carter Edge we'll cut out the BS we'll cut out the games here's the price no matter I because it's tough man I empathize I empathize with everyone involved it is very tough we preach the right stuff here but next thing you know you see oh well if I do a 24 monthly since I have a 36 month lease I get the right payment don't do that don't do it well no it would be don't do the 36 month lease to get to the right payment if you either yeah but yeah the point is don't yes you can be a payment buyer but don't spew out what that payment is it'll have the dealer to work towards it and you need to know here's how this needs to work your responsibility as the buyer you need to know what your credit history is you need to know what type of interest rate you would qualify for how do you find that out I don't know go get a pre-approval before you ever go looking for cars go to your credit union go to your bank if you have it on the website courage.com Finance go there okay and get a pre-approval now knowing what your payment needs to be the max payment that you want you need to know what that translates into how much car can I buy with an out the door price of X once you know what x is then when you go to look at cars look at cars that will fall into X don't look at cars that are well over X okay so that now if you know what you're approved for what the rate will be and what x is the total amount of the car that you could look for so it'll still fit into that payment you want just concentrate on those cars work your out the door number and then you don't have to worry about the payment because you already know you're in the payment range love it man I love it let's jump to the chat here and we've got a lot more to cover maybe we'll stay on for a few extra minutes here today Auburn Alum thanks for the contribution I have a 2018 Sequoia that has my interest I have a pre-purchase inspection in process today using lemon Squad used cards report to get True Value any other tips on a cash buyer what do you think well he seems to be doing everything that he should be doing yeah yeah I would say one thing I know we're talking about how cash is King right now I I still I wouldn't be bringing up that on the cash buyer I would still wait I'd wait till I'm enough in my office because well wait till you agree on the after your door number like and when they say well how you plan on paying well I I'd like to discuss my options with the finance manager I haven't determined exactly how I want to pay for it yet and by the way as Auburn Alum you wouldn't be Charles Barkley would you thank you Mr Barkley for tuning in I guess they've had more than one of them Joe skurcus thank you for the contribution I'm fifteen thousand dollars upside down because I bought in June of 2022 on my Tesla with 10 down I love the car though so no interest in getting rid of it so Joe I'm glad that you love the car and you're happy and you don't have to you don't feel pressured to go turn around and sell it we are going to see so many stories of this not just EVS but in general people who bought cars in June of 2022 I don't I don't know quite how to frame it yet it really is going to be a negative equity crisis for for the for the century I mean think about think millions of people are going to go to car dealerships to buy a new car then get hit with their trade-in value and then they're going to say never mind because I can't roll over ten thousand dollars of negative equity or 15 or 20 or it's going to take millions of buyers out of the market and and it's particularly true in Joe's case for EVS because they have dropped in price dramatically I believe the average transaction price on a lease has dropped about 19 in the last year so anybody that bought one um a year ago yeah you're you're unless you paid cash you know more than likely you're staring negative equity right in the eye and a lot and and just so you know the negative equity ain't gonna blink unfortunately not here we've got from Jared so many times I've had dealers say so where do you want to be on the car payment and that that is exactly what they're trying to do because that's how our psychology our psyche is to find the payment that we feel comfortable with I'm going to pull it back up on the screen when you're logged into car Edge just go to resources uh no excuse me tools and go to the otd calculator I'm really impressed with what our team put together here you put in the selling price of a car yeah let's say it's thirty thousand dollar car and we're in Colorado I like color do I have a trade allowance sure so this would be I've got I've got equity in my trade actually let's say I don't know yeah trade trade allowance trade allowance is how much they're paying for my trade trade allowance is how much they're showing you on paper for your for your trade yeah okay not necessarily it's not the same thing as a trade actual cash value or ACV which would be two different things which would be explained uh well the ACV might be ten thousand dollars they might show you twelve thousand dollars because they're using incentives or dealer discounts or to to make your trade allowance seem higher the only thing that you should care about with your trade is once once you've agreed to the out the door number then you want to find out okay how much and my trade now if you've agreed to an out-of-door number then they don't have typically room to do uh an overallance for your trade they're just going to be working on an actual cash value to begin with but so you plug that in yes then your cash down let's say I'm putting 10 down and I'm getting approved we don't can you know we don't we don't endorse this but let's say I'm doing that and let's say it's at nine point five percent what we've got here without the door price calculator is it's going to show you if there are you know selling price stock fee in your state estimated sales tax in your state estimated title fee in your State registration fee in your state here's your estimated out the door price which is 3635 more than the selling price so 12 increase in the state of Colorado and then your payment details so if your goal was a 500 a month car payment you got it you're there in 84 months which we don't recommend this is the type of stuff you got to be looking at and it's 100 free this is again just log into your account go to tools go to otd calculator and I love how they integrated the monthly payment now what if you had a trade yeah and the trade you put in the the trade allowance was ten thousand dollars but what if you owed fifteen thousand well then in that case we'd be we'd be putting for that trade allowance a negative five well they're they're yes yeah either that or we need to add uh payoff yes yeah we should add payoff to this calculator yeah yeah your trade value plus your payoff yeah but anyway this is a great resource this is something that everyone should literally just spend five minutes to look at I can't believe this Grace value Ram dealers in Florida still won't budge this is surprising to me so we've got we pre-negotiated with the cdjr dealership we're working with 10 off of MSRP on the ram 1500s and the reason that they're incentivized to do that folks is there's a new retro stair step program cdjr dealers can make up to two thousand dollars per Ram 1500 sold this month they got to hit certain threshold thresholds depending on their store and we have one of our trusted dealers Anthony here from Mark Dodge he's literally validating all of this information yeah so those dealers in Florida I don't know what the hell they're doing well you know they could be in a different region and maybe there's a different a different incentive in that yeah Ram 1500 shipping is from Staten Island New York to uh to Central Florida um thousand bucks a little under a thousand bucks just saying just saying what are you saying I'm just saying come join us um well you don't even have to come join us just do it online just do it on yeah actually yeah just do it online we've got from Ryan here thank you thank you Ryan when you see a car on car Edge that has been on for over 200 days is it safe to assume that the car is being used as a Runabout for the dealership even if it's a popular car like the Santa Cruz no not safe to assume that not safe to assume a lot of dealers end up advertising their cars well in advance of them getting on the lot so that's one of the things that can inflate the days on Market measure yeah most so many dealers especially um for the brands that have really limited inventory they they advertising cars that don't exist yeah they advertise uh they're advertising uh in transit or soon to be in transit vehicles and the way our days on lot calculate just once you start advertising it is when we start counting the days that it's been available even though it's not real available because it's not there and it might not be there for 150 days yeah some of the challenges that we face with how we currently do things but obviously excuse me obviously we're trying to uh trying to make it better we've got this from Susannah Moss the courage team needs to go on tour like Taylor Swift and Beyonce start with Florida we're starting with Staten Island yeah we started with yeah you know and and and if you tell me that there's going to be uh uh you know big crowds then you know and maybe a steak dinner I could show up I no no um being a very sad looking Auditorium I would be empty it'd be empty a very beautiful Auditorium it's just empty empty okay we're 25 minutes into the show but there's a lot to still cover do you mind if we keep going hey you know yeah you're my boss I'm not your boss whatever you tell me jmax says can you create and how much can I afford calculator yes I think that is a great idea I will ask the team to scope it out that should be without a doubt when you're on the website let me pull that up really quickly I love that when you're on the website there should be under Tools yeah that is a great idea and then what would be really cool yeah if once it told you how much you could afford yeah if it then suggested some vehicles for you yes jmac thank you for that idea I think that is spot on all right some good news yeah I want to bring some good news to the show today because it's not all doom and gloom with credit unions going a little out over their skis Kelly Blue Book analysis analysis analysis new vehicle transaction prices up less than one percent year over year smallest increase in decade now now is that it's a decade in a decade like in 2020s just yeah yeah what the hell does that mean once again I mean you know these smallest increase in decade okay in the decade is three and a half years old okay but in those three and a half years that would be the smallest thing you know and they could you know I know they would defend it by saying well we didn't say in a decade yeah read your headlines man so this is some good news dad the way that I equated this though I saw a car dealership guy had a tweet he said this is the equivalent of your friend eating 20 pizzas and then telling you I had a Diet Coke with dinner yes like that's what this is so we've had our smallest increase now what's interesting is when you start to dig into this in decade in decade all right yeah well it's interesting so average transaction price 48 334 dollars hard to believe in all honestly because again I'm at the dealership more and more these days and the price points on these vehicles are just Sky High asinine man they're really really expensive again incentives have gone up significantly so I'm going to jump all the way down there look at this incentive chart Dad yeah Blue Line represents the average incentive percentage of average transaction price so pre-pandemic you would expect to get about 10 of your vehicle's purchase price off in incentives yes and then that dropped all the way down all the way down here to about two percent yes we've doubled we're back up to 4.4 I mean let me know when we get back to 10 okay but I want to ask you yeah I hate to bring this up but does everyone remember when the when the covid pandemic started and everyone said well it's going to be a U-shaped or a v-shaped recovery I don't know what chart you had to look at to see a vision this is a v-shape man that's a what this is a v look at this blue line it looks like a c to me it's going up though imagine it just keeps going up I mean that's going to be a v yeah I mean it's it's pretty clear to me that automakers especially when you start to look at inventory levels which are building it's pretty clear to me that that's going to lead to more incentives more discounts and more incentives yeah but we've been saying that for a while that we expected that we expect incentives to go up but we don't really expect we don't expect prices to go down you know because what dealers do is in many cases they use the incentive to show a discount well that's not a discount that's just the incentive I helped David who's going to be up on Saturday where you're going to get a chance to meet David he's picking up his new Grand Cherokee 4X and David David was Price shopping the sales event which is what you should do that's fine yeah and he's like well this dealer shows shows 9 250 in discount yeah and and your dealer's Act is only doing four thousand dollar discount and I said ask them for the breakdown of their discount well 82.50 of it were rebates so the actual four thousand dollar discount that we had was before three thousand dollars better than theirs yeah so it's like they do play that game yes oh it gets you to your payment or get you to what you think is a much lower selling price but it's not the dealer that's discounting the deal and that's what dealers do they use a lot of the factory incentives to show a lower price for the vehicle while actually not discounting the vehicle at all keeping the entire margin that's been built into the vehicle so what you want to do is exactly what we did with this dealer is you negotiate a deal or discount plus you then get whatever the incentives are on top of that exactly exactly all right let's come to the chat here pops and then we've got a really great and probably long RG ryg really gotta be kidmates coming soon zero blade thank you for the contribution thank you I'm looking at a BMW X3 42 000 with 27 000 miles on it in one minor accident on the Carfax your antenna is going up already yeah I saw it in person it looks fine how much would this affect the value of a car love your work guys how much does a minor accident on the Carfax affect a used vehicles value let's define minor give us some just some rules of thumb here you know um if you were appraising that car if if that's a 42 000 retail car so let's say it was a thirty eight thousand dollar ACV actual cash value and let's say it had four thousand dollars worth of body work that would be minor on that type of car knowing that it was in a minor accident I would adjust my appraisal accordingly so if one that had never been in an accident is worth 40 000 one that has had a reported accident to me you know I I I I would deduct from that might be worth 38 000. you know any well the truth of the matter is you can't sell a car that's had an accident for as much as you can sell the exact same car that had no accident even if it looked even if it was minor yep you know minor is like we're heading into football season and and this is one of my favorite things and you know and and football players get injured and and oftentimes you'll hear well so and so had minor surgery it's always minor surgery when it's on somebody else okay it's not minor when it's on you very good point okay so so a minor accident is is always a minor accident when the seller is selling it okay not when the seller is buying it just remember that and if you're when you're not if when you go to sell that vehicle the sales manager who's doing the appraisal is going to say it's got an accident so that means I got it and it shows on the Carfax and we share a Carfax with every customer so they're going to see it so they're not going to be willing to pay quite as much this this whoops this right here yeah there's my finger yeah please get the car looked at by a mechanic before repurchase inspections yes we had another contribution come in thanks for doing that organic yes thank you for the contribution please come back to the DMV I'll be back in about six weeks and have an event at Chrysler in Rockville and I need this Grand Cherokee Summit Reserve at a reasonable price for my wife LOL Yannick come take the train up man and drive I'm gonna pull it up on the screen here's the pre-negotiated deal that we've got they've got one Summit Reserve yeah it's the four by E there's a five thousand dollar dealer discount and then 7 500 I think there's even more incentives on lease for this more than just the federal I think it's probably closer to eleven five but yeah no matter what you're getting a 5000 dollar dealer discount come hop on the train come hang out with us on Saturday and go free food there's free food man we fight we paid for a food truck yeah to come hang out with us and for those of you that are curious all you got to do to get information for your specific like you know you're you're out the door with your sales tax and everything like that just click on get this car doesn't mean you're gonna actually get the car you just have to give us the information so that we can get you the pricing and then if you like the car then you can go ahead and move forward Yannick I hope I hope that we get to see you all right pops it is our favorite segment of the show uh would that be uh no oh that would be really you gotta be kidding me all right so earlier this week we uh talked about General Motors and their commitment to Paul wants to know we're going to be serving beverages at the dealership yeah we're gonna believe it's food and drinks yeah no alcohol yes obviously but here's the deal then earlier this week we talked about and we spent a good deal of time talking about GM's commitment General Motors commitment to Affordable electric vehicles we have masses that you know we're pushing everyone the government's pushing people to EVS the oems are pushing people to EVs and good on General Motors they came out we're making that commitment yeah they made their new um yeah um electric vehicle only at three hundred and forty thousand dollars because you know there's only going to be a limited number of them and they're committed to affordability yes in the same effing week yeah GM's very proud yeah to announce the starting price for their electric Cadillac Escalade wow which only has a starting price of 130 000 I can assure you right now yeah no one is going to be able to buy one of these things at 130 000 because they're going to get TRX Ford Raptor et cetera dealer markups plus they're not going to make base trims of these damn things well yeah but you you have to think that a base trim on on a Cadillac Escalade is well well above the comparable Chevy um this is insane in one week GM is coming out all right come on you can get one of these and save two hundred and ten thousand dollars over that Cialis teak I hope that touches on yeah all right so that's really gotta be careful because that's a hard purchase to make it's very difficult yeah very very hard purchase to make yes all right that's number one of today's really Gabby Kennedy the other dad back in our community Forum we uh we provide a positive environment where fellow car buyers and consumers can help each other out part of that is providing warnings yes for groups dealerships that you should avoid this has not been validated by us this is from Darnell Keith Pearson Toyota they mark up all of their new vehicles a minimum ten thousand dollars so normal stuff like the Corolla Camry and so on for more rare vehicles and Tundras they bring it up to twenty thousand dollar markup I've even seen twenty five thousand one thirty thousand dollar markup I also see there is an extravagant amount of dealer added equipment on every new car going there for service and walking around and seeing this should make people's blood well again not validated by us but this looks fairly fairly convincing twenty seven thousand three hundred seventy dollar price here pops yes somehow becomes a forty thousand dollar and this was a Corolla if I'm not mistaken oh my God you know what I and it's got a trailer hitch on a bug deflector [Laughter] yeah you know deal you got to give dealerships credit they are some of the most inventive creative people on the face of the planet I mean because who wouldn't want to have in in three thousand dollars worth Thirty One hundred dollars worth of stuff to know that they have that bug deflector and the all-important trailer hitch for your Corolla because you know know you you never know when you might have to pull that Chevy uh Cialis teak behind you one more here Pals we've got up in the great state of Alaska the AG attorney general in the state of Alaska suing swiftard Order Group over allegations of false advertisement we're starting to see it seems like a bit of a pickup from AG he's taking some action here well in some states in some states yeah I mean we Florida it'll never happen well I don't say never but we are starting to see some enforcements and so the story here in Alaska is pretty straightforward they were advertising prices and then the price has changed when you got to the dealership which is illegal but everyone does it so it's not illegal until a state AG finally wakes up takes their head out of their tokis and actually does something about it well and the only reason that happens is because well they tried to do it to a state inspector of some kind and a state investigator of some kind and well you know that that triggered his antenna and he said well why don't we just investigate then and they did oh yeah all right we got a couple more chat messages so let's go through them real quick before we do I want to remind everyone back on courage.com we have been making all sorts of improvements when you're on the car search we now have a save search functionality this has been one of the biggest requests so when you're not looking at the Sales Event related inventory and let's do something other than a Jeep because I'm getting sick of looking at G2 let's do Hyundai Elantras uh certainly there's none of them all right whatever let me do let me try this again Hyundai there we go there you go Hyundai Elantras let's say I want to save this search or maybe I want to look at just a particular year really quickly or let's do this this will be quite fun so let's say I want to look at 2019 to 2024s and my favorite filter on the car Edge website that days on Market let's say I want to see those that are over 140 days on Market I can then save this search goes up here into my searches and now when I come back I can view or remove my save search and I can see exactly what it was it's a very proud of JP on the team and thank you to the numerous community members we actually if you go to resources and then Community Dad we actually keep track of all these updates once it loads once it loads wait for it folks come on I got better run around these days no no your internet's much better than it was if you look on the left here we've got car Edge updates and I just want to give a quick shout out to Gary Hughes Garrett Boyle and foscom vision among many other members who asked us pleaded with us please add a saved search we heard you we listened to you we built it out and thank you Justin for writing here in the community Forum documenting all the updates we've got a damn good team man lots of progress so does this mean I I have to get it onto the Forum to get you to start listening to me yes if you're on the Forum just so I know you're on the Forum I listen yeah no just so I know I had no idea I mean you know I tried the direct approach but apparently no direct approach doesn't work got it please use use the new safe search give us feedback and again we are doing this in the community Forum to show you we listen like we there's so many things that are not great like we get it and we're every day working to make it so much better thank you for this Brody you've done so much work on your site I find it so much more functional today than when I first started using it thank you thank you thank you thank you yeah we are working our butts off a team behind the scenes is doing that as well over 30 people now working in college over 30 people yeah please add in future Seven Seas yep absolutely we hear you hear your loud and clear um okay all right it's a show it's a show I'll take your word for it I'm just sure we're done I'm just along for the ride we're done for today yeah tomorrow we're gonna do live from the dealership what are you are you afraid are you nervous about anything for the for the sales event this is the first one we've ever done what would I be nervous I'm asking you I don't know it's like you know I'll be in my old element tomorrow and she'll know are you gonna wear a suit first of all first of all I couldn't fit into the suit that I do own and second of all I didn't wear suits when I was in the business except for the first couple years um so no I wouldn't wear on I won't wear a suit but but I might I might have a courage pullover you will judge Polo or pull over yeah yeah um no you're nervous about anything I'm I'm anxious I am here's my big fear my big fear is no one shows up no one comes that's my big fear yeah that's my big big well that possibility exists although I will say Cameron took delivery of his new Grand Cherokee last night so no matter what we've at least on one car yes camera was super excited so that yeah at least on one yes and and and somehow we're investing with having staff come out and everything else I don't know somewhere around twenty thousand dollars so the fact that we've invested twenty thousand dollars so one car can get sold so we can prove to dealers that this makes so much more sense um you know that puts us out of business in the heart you know actually it prevents us from doing this in the future and and allows us to continue doing what we do which is to try and educate people but am I nervous no I I I'm not nervous I I think people will show up um I I've learned a long time ago that however many people I thought were going to show up I could I could cut that back by I don't know sixty seventy eighty percent uh but yes do I believe people will show up I do um am I nervous um my my concern is that if a lot of people show up all at the same time because that's one thing that you don't ever really have control over yeah is like exactly when people will show up and exactly when somebody will say yes I'll take the car so my concern is that everybody shows up at the same time and says at the same time okay I'm good let's do this well and and that will cause a backup in the finance office yeah that's my only concern yeah you know and and there's only so many free sodas free food and and free jokes that I can share with people before they go I've had enough of this what do you guys think we're gonna do on on I'm glad you're not nervous I'm anxious I'm not nervous I'm not sure I'm not nervous at all so we've got this question from excuse me I'm just I don't want to put your name but thank you thank you for the um uh eletario thank you for the for the question will you guys be live on YouTube during the event yes the plan has been to do a live stream the entire day of Saturday yes so like we'll have a normal video drop on Saturday we got a great video in the in the queue I can't wait for that to go but what do you guys make of that we're not going to physically be at the desk the whole time we can walk around and we can interview people we can also uh we're gonna have just like a general vicinity shot that we could that we can turn to when we need to go use the bathroom and whatnot but what do you guys think are gonna tune in if we've got just a all day Saturday maybe you could tune in at any point during the day and just see what's going on I mean it might you might tune in at nine o'clock you might tune in at noon you might tune in again at two whatever I mean it'll be pretty interesting I I if if if any of you tune in when it starts and and you stay tuned in until we until we close let me know because I'll I'll be I'll pay for your first visit to the psychiatrist yeah exactly okay I I will absolutely stroke the check to your health care provider so we can find out what the hell is wrong with you yeah don't don't spend the whole yeah but you know check in off and on during the course of the day you know it'll almost be like the uh Jerry Lewis Telethon kind of yeah you know well I we'll have to we've got like a big banner where people can take photos with with us and with whoever they would like uh not not with us but yeah in general after they buy a car um do they have to buy a car yeah no no yeah uh gilo wants to know can I get deals remotely yeah absolutely absolutely we help with the we'll coordinate the shipping you just got to get the pricing through the website the dealer discount won't change the incentives could change because yeah but yeah then we'll help do shipping shipping to Florida from Staten Island is about a thousand dollars Mike wants to know what kind of food truck can we just actually sit on that for it costs a thousand dollars to shift from Staten Island to Florida and it actually makes a lot of sense for people in Florida to do that yeah that's crazy yeah that is an indictment on Florida dealers yeah what kind of food truck montalbanos they're relatively famous in Staten Island um and we're gonna have all sorts of good food up to 150 people is what I prepaid for so hopefully 150 people will come and if not then the staff's gonna have a question you know I'm gonna eat yeah you're gonna eat yeah yeah yeah yeah yeah all right well I'm excited um yeah wish us luck guys hopefully this is the first of many I'm really I'm really excited taking it from your condo yeah from your apartment yeah to the main streets at Highland Boulevard and Staten Island yeah yeah and hanging out inside a dealership forever from that could be another another live stream would just be 24 hours in a dealership I've done that have you pulled an all-nighter at the dealership yeah I got snowed in really yeah one time yeah that's terrible it was because it wasn't like we had beds or anything okay and and as nice as the chairs are they're they're not really good for sleeping okay yeah yeah there were four of us that were stuck at the dealership oh gosh yeah it was terrible that sound terrible yeah uh fly to pick it up much less than one thousand for shipping yeah that's actually a really good idea yeah because you know most most flights from Florida to the New York area are pretty inexpensive they probably are yeah okay again and then we're gonna then we're gonna hop off for those of you that actually want to participate or learn more or even just see the prices just go to caredge.com this will pop up you can watch this little video of me explaining how it all works click on view the pre-negotiated deals you will see some of the vehicles like the Subaru Impreza we couldn't get them to come off of MSRP but on the Legacy for example we could it's going to be Subarus as well as Jeeps so let's look at one of these like a Jeep Compass all you need to do to kick start the process is click on get this car and fill out the form the form is going to give us information to follow up with you to give you all of the information you need pricing details if you're doing a lease the money factor residual all that fun stuff so you fill this out and then if you like the deal you schedule the time to come in it would help if I had pulled it up on the screen there it is go to caredge.com find that vehicle and then again let me just show it you click on get this car to be able to start the process all right gang we will be back tomorrow yes from the dealership with with Miss Kimberly Klein oh will we be doing remote with Kimberly yeah why wouldn't we okay Kimberly I think you're on with us we will probably do it with you my concern is if we run into technical difficulties from the dealership I don't want you to be stressed and us to be stressed but yeah let's have Kimberly off yes audio might be a little bit tricky but we've got the okay all right tentatively with Miss Kimberly Klein tomorrow from Island Chrysler Dodge Jeep and RAM and Subaru in Staten Island New York we'll be there at 9 00 a.m Eastern 12 P.M 9 A.M Pacific 12 p.m Eastern I was gonna say we're not leaving here till 9 A.M Eastern everyone enjoy your afternoon we'll see you again tomorrow yep thanks everybody thanks for being here have a great rest of your day well that was that was certainly fun yeah that was good yeah Friday with Kimberly it's called Monday and no one likes Mondays what was that from Justice yeah you should yeah hey sorry I missed you what's going on isn't it [Music] um it's in my dad's Park it's in the back seat of my dad's car I can be home in about 10 minutes and I can give it to you um I'm already out where are you I can bring it to you well I just left the house and I know it's supposed to rain soon so it's gonna take the umbrella okay where where are you going I can drop the umbrella off to you okay um I'm going to the library okay um I can't get in but I will meet you outside what was that thank you I said I don't think they'll stop you or anything just run out yeah okay yeah yeah I'll leave here in like 15 minutes cool have fun yes so in the back seat of my car we're broadcasting right now Justice oh we stayed on Justice oh that's funny well there you guys go now you know all right we're actually gonna end the broadcast you all have a y'all have a good one wait you know what we'll do this that's funny um I parked here we're still alive I never I forgot to do that broadcast yeah so they got to hear me call Laura so yeah it's supposed to rain here but we will end this um I parked your car in the in the parking lot where I normally park or where all right I'm gonna make some content y'all have a good day this is really really funny see you guys uh

Channel: Ray and Zach

Views: 44,043

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Id: 1DwGCpc7KNg

Length: 52min 12sec (3132 seconds)

Published: Thu Aug 10 2023