Lucky, the host of the YouTube channel, is back to explain why used car prices are on the rise and why this is just a temporary trend. Lucky wants to clarify some misinformation that has been circulating online and to give you the facts so that you can make informed decisions when purchasing your next vehicle.

In his previous update, Lucky shared that used car prices were trending downwards, with a 51% loss of vehicle values in the last 18 months. Lucky believes that it will take another 49% to reach the same values that were seen in 2019. However, in the last few weeks, many people have been sharing news articles about used car prices going up. Lucky wants to explain that this is only temporary and that the main reason for this trend is tax season, which happens between January and April. This period is called a dealer’s Christmas because it’s when dealerships make most of their sales. Lucky explains that dealerships buy a lot of cars, hold on to them, and then sell them in the second week of March when prices go up astronomically.

Lucky notes that this temporary spike gives dealers a false narrative that the car market will continue to perform well, but this is not necessarily the case. Lucky believes that tax season this year will not be that great due to several factors. Many people did not opt to take money out of their unemployment benefits or paused their student loans. There are also some states that will still go after individuals for some of the money. Lucky notes that there will be other reasons why people will not receive the big tax returns that they’re hoping for, and this is why the automotive industry is hoping for a successful tax season.

Lucky also wants to discuss some news articles that he received from his audience. One of these articles is from Kelly Blue Book, which states that cars went up over 3% over the last two weeks, going on an upward spin of 3% every week. The other article is from Manheim, which is talking about how used car prices at auctions are going up a few percentage points every week. Finally, AutoTrader is saying that used car values are on the rise, although they don’t provide specific data.

Lucky points out that all of these companies are part of Cox Automotive, which he believes is the used car monopoly. Cox Automotive owns Manheim, which tells dealers how much to pay for cars; Kelly Blue Book, which tells banks how much they should lend on used vehicles; and AutoTrader, which tells consumers how much they should pay for these vehicles. Lucky notes that if you look closely at these articles, you’ll see that they are all from these major vendors who are telling everyone how to buy, sell, and price their cars.

Lucky wants to remind his readers that they shouldn’t trust everything they read in the news, and they should do their own research before making any decisions. He encourages readers to leave comments on his videos or social media channels to share what’s happening in their local markets. This way, people can learn from each other and make informed decisions based on their unique circumstances.

In conclusion, Lucky believes that used car prices going up is just a temporary trend and that it will not last. He advises people to be cautious when making car purchasing decisions and to do their own research before trusting any news articles or information they find online. Lucky hopes that his audience can learn from each other and share information to help everyone make better decisions in the future.