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GeoPulse : Learn how to take control of your money with smart personal finance strategies, simple investing tips, and daily money hacks. In this video, we break down today’s financial news and give you practical steps to grow wealth, save smarter, and invest wisely.

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Transcript
00:00I always get asked, when are the car prices going to go down?
00:02When are things going to change and turn around?
00:04Unfortunately, the way it works now is that unless you actually have people that are willing to walk away from deals,
00:11they're not going to basically lower prices.
00:13So dealers right now are over leveraged in their cars.
00:16They bought them, you know, three to six months ago at, let's say, top dollar.
00:21And then every month they have reoccurring costs.
00:23Their flooring line, which is their credit line, they put maintenance in it, cleaning it up, washing it.
00:27And so every month, traditionally, the book value of cars go down.
00:32So dealers are watching the book values go down, but they're still overpriced in their cars.
00:36They don't want to take them to the auction because they're so afraid that they're going to lose thousands of dollars.
00:40It's going to make them look bad.
00:41So their only hope is to find some customer dumb enough that's willing to accept overpaying for a car.
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