A lot of you guys like to reach out to me
to see what’s going on in the car market,
namely, like,
financial planner guys, stock brokers,
real estate guys.
They always kind of want to know what’s going on in the car world
just so they can gauge what’s going on in the economy.
And then finally, somebody sent me this one today.
Ah, there it is.
Car prices are crashing. Used car prices are down 17.5% since 2021.
Largest decline in 15 years.
Oh, and if you have an EV,
you could be down as much as 40%.
And there’s a graph. If there’s not a graph,
it’s not true. So what do we do, Chris?
What do we do? Crashing is probably an aggressive term.
Coming back to reality is probably what’s really going on.
Obviously, these cars were inflated in price a couple years ago.
Obviously, the markets change a little bit.
Things are coming down. You know,
you got an election coming up.
There’s a big demand to sell cars and not a huge demand to buy cars.
Also known as supply and demand.
So, yeah,
they’re all coming down. You know,
it’s not a shock. Obviously
some are worse than others.
If you have an EV, it’s gonna be.
It’s gonna be tricky times ahead.
So what do you do? Well,
you can sit on the sidelines
and wait for things to start to go back up.
Because they are exotic cars.
There’s a Limited production.
Once these new EV start to hit
for Bentley and rolls and other brands like that,
your car might actually go back up in value.
Or you put on your big boy pants and you look in the mirror and you go,
you know what? I’m still rich.
I can still afford a Lamborghini,
I can still afford a Ferrari.
I’m just gonna drive and enjoy it.
And then the last thing you can do is
you can work so hard that you’re so rich
that this stuff doesn’t even bother you,
cause you got 15 cars in the garage. Have a great day.