Car Market Update For New & Used Vehicles - Watch Before Buying | SPRING 2024

[@vicariousjohnson9823]

My local Mazda dealer still has a MSRP + $3999 “market adjustment” on all of their new vehicles. I’ve never wanted a dealer to fail so badly.

[@xpavar]

Expand your search area and/or buy through Caredge.

[@jayabacromby675]

Perjaps that's one reason why Mazda has over 100 days of in stock supply.

[@562wiseguy]

Everything is regional, demand is going to vary and prices along with it

[@mindfullymellow2323]

Consider flying one way to a Mazda dealer in the upper Midwest and drive your new ride home. No ADMs or dealer add-on’s at most places. Or, use Car Edge as another commenter has suggested.

[@Adrianjalapeno]

Got mine for $500 below MSRP and 2.9 % APR. not the best deal compared to pre Covid but a better one on todays market

[@TheCarGuyOnline]

It's not really a good time to buy a new car given the prices are still so inflated and only certain makes/models have good financing rates, most are terrible. Compared to 1 year ago (worst time in history), yes, maybe it's a good time, but that's like saying we had super stupid terrible prices, now we have just terrible prices. We were conditioned to think that dealer lots being full is abnormal, but that's really how it used to be, I'm sure Ray remembers :). You used to be able to go to any dealer lot, pick your color and trim, and incentives were very common. You could get invoice on just about any car if you bought at the right time, that was normal. Now that's considered a unicorn situation.

[@NovaValentine000]

Yes, here In Kansas. I'm looking at the MSRP Chevy Colorado Trail boss truck for $37,300 but it's 10 thousand over MSRP. It's ridiculous, That's slightly over how much MSRP of a Chevy Silverado 1500 cost.

[@TheCarGuyOnline]

@@NovaValentine000 Wow that's bad. The Colorado in particular is hard because it's in high demand (because it's such a nice looking/well equipped truck), like the new Tacoma. It's a weird market right now, and I think the Colorado didn't have good financing rates last time I checked.

[@cryptofreedom772]

I have a 14 vehicle and I’ve been looking to purchase a new vehicle. I won’t buy at these rates or prices. But I’m wondering how much longer to wait..

[@AlanElBee]

@thecarguyonline "True Dat" to all you wrote.

[@TheCarGuyOnline]

@@cryptofreedom772 Looking at past data/normal years, I think your best prices and financing will come mid to late summer through Jan. Usually March through August is just so so....

[@MarkDepatie]

I just tried to buy a ram 1500 limited. 81k msrp. They offered to sell for 67 but had about 4k worth of add-ons like 995 for paint protection and 300 for wheel locks…. 399 LoJack. I took your advice and walked out.

[@Tungsten23]

Just buy a used one, they all look the same

[@BabyMikeVenom]

Nice

[@isaactheguitarist4918]

im selling a ram 1500 lone star 2020 with 25k miles. Are you located in texas?

[@GlennThomas]

Trucks are ridiculous right now. I bought my RAM Rebel fully juiced in 2020 MSRP 58k for 48k. Today they want to sell you one for 79k and will throw in a 10% discount so 8k. How did trucks go up in price 20k in 4 years. Math doesn't add up.

[@davec.3198]

@@GlennThomas 20% loss in value on the dollar. 58k with a 20% inflation adjusment is $72.5k. The value of our money sucks.

[@mapmike52]

I want to see the dealers sweat a bit more before I buy a new vehicle. I think the manufacturers are going to wake up this summer and realize they need to offer way more incentives to move inventory.

[@bokdcutie]

Dealers will always get away with selling at +10k above msrp then they tell the manufacturer that customers used incentives so the dealerships get more money. Manufacturers need to sell directly to the customers. And put these crooked dealerships to jail. On top of this if you get financed through the dealership’s bank they put 5 to 10% on top of your original APR

[@randomuserame]

Or they can let them sit and call for a bail out

[@skankyfranky1028]

i'll tell you what, I dont have any intention to buy a car anytime soon, don't own or work at a dealership, or have any ties to the industry, but i watch these videos every time they pop up. This stuff is way more interesting than you would think it would be.

[@denniswilson9317]

My son-in-law was driving a 15 year old Malibu with 60k (been paid off for 5 years) when a deer totaled it. He is now having to drive an 11 year old Outback with 120k but with $300 a month payments for 4 years. Last year I was bragging to a pal that my 16 year old Tundra that I bought in '21 was worth several thousand more than I paid for it. Twenty minutes later a teen crashed into it and totaled it. All I could get from insurance was what I paid for it and even that used to be impossible. I haven't been able to replace it because used Tundra and Tacoma prices are ridiculous.

[@byronfarley8057]

In Cincinnati, there is a 2014 Toyota Tundra with 187,346 miles going for 30,995, that's fucking crazy!!

[@josephomole6404]

Aw man, so sorry to hear that

[@mohammedsharikuzama5518]

never say something like "i have never had this happened to me or something like that", universe works in a weird way to prove you, see, now, here, it happened, same thing happened to me, i was bragging about my health to my friends and how i did not have to visit a doctor in years, next freaking day i "accidentally" got one of my fingers cut deeply and had to run to Urgent care. Sorry for the loss on your car man

[@BabyMikeVenom]

300 a month?! You could of leased a new car!!

[@denniswilson9317]

@@BabyMikeVenom He didn't want to RENT one. Besides leases require thousands down.

[@pumped2behere988]

I played the patience game as you 2 have suggested. I sat and waited on a Bronco. Waited until the last day of the month and for the dealer to mark it down multiple times. Got a fully loaded ride with 2k miles for 12k less than the sticker paid. I appreciate the advice of this channel as it saved me thousands...

[@radlink14]

Would you mind sharing your tactic? How close to the end of the month did you inquire? Did you just walk in and name a price etc?

[@pumped2behere988]

Last day of the month I just showed up. I set up multiple searches on Autotrader and got to know the market really well. I set it up so that I would constantly get alerts when bronco's with exactly what I wanted for options dropped below a certain price. Once you find one you like , watch to see how fast the dealership drops the price, which should indicate how badly they want to sell it. Check also to see if they bought it at auction or if they took it on trade in as this will also determine how much they are willing to move on price, for anything used of course. The internet is your best friend buying a car. If you have a question, investigate. The more you know, the better off you will be and the more work you are willing to do on the internet the more money you will save buying a car. Be informed, be patient and be willing to walk away. They will make more cars.

[@radlink14]

@@pumped2behere988 thanks a lot! I ended up buying one about 3-5 days before the end of month and was able to get it about 5k less than msrp. Used but with 3k miles lol so it was basically new!

[@MrJonreed7]

I don't who is buying ANY car these days. Was at Ford last week. 3 years ago an Expidition limited was 45K-50K. Now $83K. NO WAY!

[@thomasgarbaty7374]

Makes you wonder if houses are worth what they are actually selling for?

[@dougscottking]

No it wasn’t. 2021 MSRP was 63k. 2024 is 70k.

[@bushonry]

That's not true at all! LOLOL

[@cybil66]

I think you meant 13 years ago

[@bliglum]

@@thomasgarbaty7374 The most disturbing thing is all of these things are not worth that much more. It's that the dollar is worth that much less.. We've seen HUGE inflation, I don't think the current administration is admitting how bad it's actually been.

[@Markrtsoon]

You are right. The used car price is not going down. Some 23 cars I was researching is only couple thousands lower than a brand new ones.

[@cdd543]

I’ve been searching in Denver for used up to $25k for an AWD crossover/small SUV and the market is rough. Saw a former rental fleet 2021 with 60k that was beaten to absolute hell inside and out for $25k. Then we drove a 2019 Tiguan with 61k miles for $19.5 that was in worse condition with dents and dings all over it. It was also a former rental fleet vehicle. This dealership also has a sign sharing that they charge a reconditioning fee of $799 on every vehicle. Comedy

[@patgordzelik5642]

My wife has a 2014 Tiguan, 62k miles, always stayed in garage, SE Turbo, cherry little car, 12,200. No smokers. Big sunroof.

[@duckling4393]

Exactly, was looking to buy a used, but a new one was only 3-5 thousand more.

[@jordez1]

I almost put down a check for a CX-90 , but after searching for issues on this particular car, I learned that you have to pull out the whole engine pretty much for normal timing chain tensioner replacement.

[@romanc.5074]

Yeah, you are right.

[@jwill540]

Oof, such a poor design.

[@PaleBlueDotCitizen]

Haha what a garbage product.

[@80808O]

Lol don't get a new sequoia instead. They have their own engine out for simple repairs design

[@derekisthematrix]

@@80808Oand by extension the Tundra

[@racoming1035]

Was in a dealer today. Ram 2500. Had a dealer msrp demand mark up sticker in the window. The claimed they never did that. I asked about the sticker......long silence. Oh that's old! I kept asking OTD price and they kept asking trade in, money down and financing. 20 minutes later I get an OTD price from the manager. I asked about invoice price. The manager was really pissed and said no. I told him my OTD price and left. I can wait.

[@musicgroopie1]

I've been hearing this for a year now. If dealers were hurting, they would drastically lower prices to prevent bankruptcy. As far as I'm concerned, these overpriced vehicles can develop lot rot until the batteries die and the tires dry rot.

[@johnkoziol6073]

They must be making bank on service.

[@jimandersen3003]

It's not all on dealers. Market adjustments were a rip off, but MSRP is factory set.

[@benana87]

@@jimandersen3003is this car companies trying to make up for losses?

[@nildefonsop]

Guys I want to say thank you. Just bought a 2024 Camry and traded in a car I purchased in 2022, due to excellent advise and information I got from you guys my 2022 Corolla was only 200 upside down and I paid no fees and sub msrp for the Camry ! Thank you again for all the good work. I’m a huge fan

[@richardstone5241]

Trucks should NOT cost $75,000 to over $100,000. If we adjust for inflation from 1984 to 2024, a truck with all options should be $35,000! DO NOT BUY A NEW VEHICLE!!! DON'T BE A FOOL.

[@camitup]

I AGREE

[@madmatt1964ify]

Absolutely correct, but stupid is as stupid buys. The dealers are talking to them and they are thinking that they are missing something! Nevermore, said the Raven!

[@Justoutdoors360]

There’s still a lots of idiots paying over $70K for trucks

[@habaneropepper4156]

You are correct on inflation adjustment but your comparing model T’s to spaceships. You can get base F-150’s for mid high 30’s and they have more options than a truck from 1984.

[@busDoctor31895]

There is a little more that go's into then just inflation like a loaded truck has a crap ton more options today than in 84 like much bigger cabs bigger nicer rims and entertainment and safety items. Icould legitimately see 45k for a loaded half ton 4 wheel drive crew cab truck

[@steven4315]

Retired UAW here, I don't understand why automakers are not laying off. Layoffs are a normal part of working in auto plants and I'm not hearing of any. At this point if I was still working, I'd be reducing spending to a minimum and waiting for a layoff notice. It's just how the industry works.

[@PaleBlueDotCitizen]

They will be soon. Every UAW company will be bankrupt before the end of the decade.

[@earlwimberley2396]

Jim Farlay, the ceo of Ford, told the UAW the screwed themselves. He's moving all manufacturing to Mexico. I would say that's a lay off waiting to happen.

[@aj_brz4851]

I went to look at a Ford Raptor the other day. Used with 70k miles, it was $41k. With $10k down, payments were still almost $800/month with a 8.9% interest rate. And my credit is basically perfect. Absolutely crazy. Im going to be driving my current truck into the ground.

[@theman_10]

Lol that's insane

[@pireina1]

If you credit score is 780 plus you can get better % rate. Look for it or find a credit union like mine that gave me 5.9 % for up to 84 month. Lexus was giving 6.4% for 72 month, when I got my Rx-500h. It is out of control, I know. Hopefully interest rate go down soon.

[@NoaEnt]

@@pireina1not really. After 740 credit score, you get the best available rates. Usually credit unions tends to have better rates so many people get preapproved and then during the negotiating basically use that as a bargaining chip ("I'm pre-approved, but if you can beat it, yada yada yada").

[@solmariuce5303]

Why would you buy with credit, you don't own it. It's financial suicide... If you crash it while you still have to pay the debt, what then?

[@investinjahcoin5029]

@@solmariuce5303there is always GAP and car Insurance

[@songsjj]

Purchased a new 2024 Mustang GT Premium Monday. 11.5% off MSRP. Cash deal no extra add-ons. Decent deal considering where prices have been.

[@MikeMikewaz]

Cash? Ok rich man. You didn't even need money off

[@TheRealCatof]

Because the price is added to the MSRP. A 2024 Mustang GT costs almost double the price of a 2019 Mustang GT.

[@RM80AR]

Where did you buy it from ( dealership’s name)

[@TeXasDadBod]

I see this title on every other video and I’m still waiting for dealers to care 😅. I see mark up and add ons at every dealer in Austin TX with no end in sight!

[@billricheter5678]

I think things are very regional. Colorado economy is booming and prices on everything is skyrocketing. Homes as well as decent cars

[@texez_angel]

That’s why I won’t go to Austin to buy cars…

[@tharais]

Pretty much the same in Northern California.....anywhere. Obviously the dealers around here aren't watching CarEdge. 😄

[@steved0603]

Nashville, too!!

[@martinatchison]

There’s nothing of value in Austin. -Houstonian

[@lindacook4032]

Just purchased a Toyota Highlander dealer took over 7;000 off MSRP removed all extras on car . I believe I got a good deal. Thank you Ray and Zach.

[@thestrawberryaniahomegarde7228]

How did you manage that? I need tips.

[@Wickedpissah138]

The Mazda dealer near me in NH has so much leftover inventory they needed to lease an entire section of the parking lot at the nearby Mall of New Hampshire to park them all. All brand new. There’s a couple thousand of these cars just sitting at the mall… but hey… it also makes the mall look more busy! 😅

[@vicariousjohnson9823]

Do they still have a market adjustment?

[@Wickedpissah138]

@@vicariousjohnson9823 haha! I’ll have to take a peek next time I’m over there. They have been there since mid-February

[@TheRealCatof]

@@Wickedpissah138I would have personally just gone there and keyed them all lol

[@derekisthematrix]

@@TheRealCatofbroken window fallacy

[@Wickedpissah138]

@@TheRealCatof oh yeah I didn’t even think of that… those cars are totally at risk over there. Mall cop security 💪🏼

[@frankm2145]

There all 30 To 40% over priced, don't buy any !

[@HowTeq]

You're saying that the MSRP base prices are too high right??

[@Abc-sl1nf]

@frankm2145 you are correct!! Caredge is ridiculous!!

[@wildmanofthewynooch7028]

go look at car edge pricing same thing.

[@Metalpazallteway]

💯 they're making 300% profit on your buy

[@mrc2165]

​@Abc-sl1nf and they use the same tactics as dealers, like, deal only good for 1 day, want all personal info before any pricing, etc

[@SteveHerrick-yi4md]

look forward to watching you two everyday. This is the best news out there, and if you read between the lines it tells you much more! Thanks for what you do

[@stratcaptain66]

Actually if vehicles continue to be “not built”, that means more and more job losses. When job losses continue across the board, i think eventually you’ll see vehicle prices come down pretty fast. You’ll also see much worse, you’ll see dealers going out of business, but before that, prices will be slashed.

[@NERDLYFE-es9ef]

And that when we come in and make out like BANDITS!

[@begelston]

No games, no gimmick, the OTD prices must be affordable or still NO SALE.

[@steved0603]

I posted this on Brandon's latest video, too. We're trying to replace a totalled vehicle (young drivers!), but prices are still crazy high on most everything. One owner, no accidents, 186k miles, '08 4Runner at a legit Toyota dealer I looked at yesterday, the dealer wanted $11,600 and they ain't budgin'! Car was an odd mix of taken care of, yet pretty much thoroughly worn out and filthy on the outside (very nice interior, oddly). Like I said, an odd mix. I asked if they were even going to clean it up and detail it and the salesman said "Nope"! And it's not even on their budget lot! If there's anything positive about our situation, when the insurance company paid off the destroyed vehicle they paid us more than we paid for it a year ago! Of course we have to turn around and spend as much or more to get a replacement if we buy now! Not to mention looming cancellation or premium increase. Ugh!

[@KealeyOnCars]

I’ve noticed the only car on the market that still has a market adjustment is the Civic Type R, and that’s only in certain markets. Much of the country they’re available at MSRP. Here in California there are a shocking amount of these “limited” cars sitting on dealer lots for months because dealers refuse to lower prices and people are just going out of state to save $10-20k. Even more limited production sports cars like Toyota GR86s, BRZ, Supras and BMW M2’s are all back down to MSRP. Some cases, below MSRP!

[@MsAnderson-]

Thank you! I needed this! I've been searching for a used Lexus NX 350h, to no avail, but found a NEW one for only $1K more than the average used one is priced at. I was shocked because I wanted to save by purchasing USED instead. Thank you for this confirmation!!! I'm about to take the plunge and buy NEW based on the data, this video, and the great price I'm getting on this NEW vehicle! PS. I'm using your concierge service and it's been amazingly helpful! Love you guys!!!

[@donsmnc5319]

It doesn't matter how many units are in inventory even if goes over 3M, the prices have to come back to reality, which means 25-45K reductions, yes the loss of 10M vehicle's not built will haunt this market for the next 10-20 years

[@CarmellaStella]

I never buy anything from a car dealership. I only buy cars from old elderly people because they most likely haven't been abused. I get some really good deals from them, too.

[@mercinak655]

just purchased a 29k msrp , 2024 hyundai santa Cruz for 10% off plus 500 doc. Deals on new are getting better as the lots are looking more like 2019 for inventory.

[@benrichards9667]

I'm sitting on 75K cash, I need a new truck . I want a new or fairly new truck. Will I pay today's BS prices? Nope! They can sit and rot! I will hold off until prices get back to something realistic!!! Flunk'em

[@johnkonde1975]

Put that 75k in Fidelity SPAXXX money market fund and you will earn 5.25 percent interest, very low risk

[@ronyeahright9536]

same here....i have a cherokee trailhawk in great condition, but im at a point where i need to buy a new ride, or spend a few bucks on tires and some minor servicing. All of these dealers i went to so far are thieves, caught them in blatant deception. So if i don't get a great deal, MY deal in the next few weeks, screw 'em. I'll keep the trailhawk, spend a grand, and be happy. Those guys? They better learn how to start eating fenders, or they can starve.

[@philrutulante6105]

I listen to you guys often and do not see anything actually occurring which you are talking about. I live in New York. Upstate NY and the prices have not dropped a penny. The Dealers still do not make deals, will not get a vehicle for you and say goodbye if you try to make a deal. Seems the lots are full. More stocked than a few months ago and there are NO DEALS TO GET. Please EXPLAIN.

[@mattdls75]

Agree, just more click bait, every video the dealers are in trouble.

[@aaronw6706]

Keep walking. They’ll get the hint. Lot is full because no one is buying. Let them pay interest on that inventory.

[@TheMocutMiester]

The Infiniti dealership by me just stared offering 8K off sedans and 18K off of SUV's. It's beginning but NY has a bunch of bozos who like to keep up with each other. I'm in NC

[@tomhiggins875]

My friend just bought a new red, the color he wanted which they got from another dealer, 2024 Toyota RAV4 Limited with all the options for $41K cash and received a $27K trade-in on a 2021 Honda CR-V. He lives in a western Chicago suburb.

[@UAkovalchuk]

Prices r way to high!! So my friend is looking for a used large suv me and him went to a local chevy dealer here in MO we were interested in 2016 suburban with 145k miles! The dealer was asking 23800$ we took it for a testdrive and the transmission was shifting hard and check engine light came on while test driving it!! We came back i told the salesman about check engine light and shifting problem i said can u go down in price he said no we cant do that!!! Not even 500 bucks of !!!nothing!!!! They can keep it!! We laughed and left the dealer!!

[@uocana1]

Was shopping around late last year for a mazda cx-90 3.3 turbo a premium plus. The dealers were selling them for 62k msrp plus a 3k-5k mark up. I just checked this week for dealers in the Chicagoland area and saw the same cx-90 selling for 4k under msrp (62k).

[@pschilleru]

I just wanted to say thanks for your tips and advice. I just purchased a 2024 Acura RDX Advanced for 6.5% below MSRP using your techniques. Just as a data point, I was able to secure a 7.5% loan as well.

[@MrEvtmazda]

Yikes. Good Loans used to be 3-4%

[@nineen]

Thank you for all the interesting information. We tend to drive cars until the wheels fall off, so it's been a minute since I've been in the market. I'm looking at possibly purchasing a new lexus and trying to study up on the market.

[@ChrisFromFloriduh]

I’m really looking at getting a newer RAV4 but Jesus these prices are smoking trash.

[@multikillerpro1]

I got an 23 LE with all dealer options for $31k.

[@fireguy615]

Rav4's are some of Toyotas most reliable vehicles, up there with the Tacomas, my 2007 has 305k on it and keeps on going. There is no shame in getting into a non-new Rav, save the cash, drive it forever

[@ChrisFromFloriduh]

@@fireguy615 I think, it’s because I’m a cheap butt lol. Cars in FL are overpriced unless you go to Miami, even there you’re paying 25+ for a 2019+ newer RAV lol.

[@ChrisFromFloriduh]

@@multikillerpro1 nice! The 24s are 30ish, still insane, I think it’s because the last car I bought was in 2017 and I’m such a cheap butt, lol.

[@MaSa-bp5qe]

Do not buy new. Just buy a used 5-10 year old beater for a few years until market returns to normal.

[@jocko_]

I have been waiting for 3 years for the price of used cars to go down. Hasn’t happened yet.

[@kiamike163]

Here's a good rule of thumb.. anything with a 4 cyl engine 20k max. Anything with a 6 cyl engine 25/35k and anything with a V8 40/55k period no reason to pay a dollar more unless its a Numbered or concept model..

[@guytech7310]

It would be helpful to include problems\complaints with vechiles. A lot of brand new vehicles have issues even to the point they aren't driveable (engine problems, transmission problems, electrical). As well as problems like very high battery discharge rates (leave it parked for a week & you got a dead battery). Personally I think new vehicle prices are insane.

[@jayabacromby675]

Yes new prices are insane. As a rule, stay away from CVT transmissions.

[@tharais]

@@jayabacromby675 Toyota CVTs have not been an issue. They've been using them since 2000.

[@jayabacromby675]

@@tharais That's what I've read. However I have read, and have friends who have had trouble with CVT's, Including Toyota, and Subaru. I still don't trust them. I'm not too keen on the eng. dept. of a mfg. deciding how I should drive. Personally I enjoy manuals. I like to have the right gear for the driving situation. However finding a shaker now a days is not so easy. The next best IMO are paddle shifters connected to a multi geared auto trans. A proven technology. Best wishes Tharais.

[@ace197400]

I agree with ​@@jayabacromby675I have a $15,000 paperweight in my driveway. I will NEVER own a Nissan again. 😞

[@Ethan7s]

Norm Reeves Honda in SoCal is still adding $4.5k of “definitely not add ons” to new civic si. It consist of an alarm, door edge guard, ceramic coating, wheel locks, and mats. That’s 15% over msrp, and they would rather hold on to it than make a sale. Oh well.

[@billkraemer4710]

Oh, magic coatings. A super value. Said no educated person ever.

[@kirkdunn1379]

Penske is another one that's high I live in Long Beach and purchased my last 4 vehicles out of state cuz LA is so high....has worked out well

[@backyardscaler]

Can you make a video about lemon laws? I had just purchased a 2023 gmc sierra in October 2023… just hit 4k miles and the truck has rust all over it, doors tailgate, door jams, hood.

[@tyo8223]

sounds like rail dust, a car detailer can remove that.

[@genepitney155]

Does this mean I can't get nitrogen filled tires for $300 now?

[@MaSa-bp5qe]

😂

[@kevin1873]

So, my local Ford is doubling down on how bad the car market is. They sent me an email a few days ago on a new 2024 Ford Mustang that hasn't been selling offering $988 of the MSRP but sent me an email this morning that the car market is doing so well right now that unfortunately the same car is now being raised $988. 🤣🤣🤣 In California though everything is out of whack because of Newscum. The car dealership could be on fire and burning down the car salesman will tell you that absolutely nothing is wrong and that they can't take even $1 off the MSRP price. They're insane. Also, while the end of the year might be the best time to buy a car it's important for consumers to remember that on top of the money you spending for Halloween, Thanksgiving, Christmas, New Year's and birthdays in between that time but come January, if you live in California, that big $600+ registration is also going to come due. March or April is a better time to buy that way hopefully your tax return can help with that registration payment.

[@1703clem]

I have started looking at buying a used car. What I am seeing at multiple dealers is they’re list cars for sale but when I arrange to see it I’m told it’s not for sale until they do a service inspection. The last car I looked at has been listed for 12 days. I looked it it and wanted to deal on it but it hadn’t been inspected yet. It’s been two days and still not inspected. Salesman calls and says it’ll be soon. I don’t understand why it’s an issue at multiple dealers. Any idea?

[@stavroslask1292]

Dealers in Small markets are in trouble NOT in large metropolitan areas. In NYC and Long Island NY car lots have vehicle 150+ days and won’t BUDGE!!!!

[@NERDLYFE-es9ef]

Let them shit on themselves,

[@mystic316]

here in Northern VA the dealers here are all still not budging from market adjustments

[@ronyeahright9536]

i guess they are used to dealing with all those rich politicians and lobbyists

[@kristinthompson2309]

This is great! I really appreciate this! Conventional wisdom has been buy used and I have been having a hard time seeing the value in a used 3-5 year old car/SUV given the exact reasons mentioned. This reassures me that I am understanding the market, despite me not liking it right now.

[@RailFan-xq2hq]

Thanks for the info. The two of you provide great insight to the market. I also appreciate the video under 15 minutes.

[@BEASTxMODE]

Yes, dealers are willing to make deals now. I just pulled the trigger on a Subaru Forester Premium -$2.5K (-8% off MSRP) w/2.9% 60mo.

[@4lan]

where?

[@BEASTxMODE]

@@4lan Las Vegas. Work with internet sales dept and be patient. Good luck.

[@NurseMJ986]

I am interested in a Subaru Forester. How much did u get it for if you don’t mind me asking please. Thanks.

[@BEASTxMODE]

​@@NurseMJ986 $31K + fees/taxes. Package 15 w/blind spot monitor. If you're in no rush, wait this summer for the 2025s to arrive, prices will drop even more.

[@mindfullymellow2323]

Chicagoland Subaru dealers are also below MSRP. No ADM or add-on’s, lots of inventory. If anyone’s in the market for one, you could fly one way to O’Hare and take a quick Uber ride to Grand Subaru in Bensenville. Good people. Then drive your new ride home.

[@23isbackjordan]

Some of you are crazy going into the dealer asking for any car 2023-2024, was in market for a newer bmw x7, 2021 certified preown 35k, 2024 bmw x7 out the door price was 90k, guess which one I took? I’ll cry about having a brand new 3 year old car in bora bora with the misses with the money I saved😅!!!

[@classiccorvettesmusclecars5846]

Mazda is king.. My 22 CX was built in Japan and been trouble free in 37k miles. The Mazda 3 sedan is the best looking small vehicle u can buy pretty loaded for $26k. The CX5 is also built in Japan and been around long enough to where all the bugs have been worked out.

[@Imachowderhead]

My 3 was a lemon from hell

[@locknload4691]

The Mazada3 Carbon and Premium models are starting at $30K plus in my area.

[@krassimirpetrov7131]

Yup just negotiated a 21 carbon edition for my girlfriend and got it for like 22k plus I made them pay like $8500 for a trashed Kia trade in . Good times.. it’s also CPO

[@TheRealCatof]

I don't disagree. But 37k miles is nothing when it comes to determining reliability.

[@will_mcfarland]

This is like saying: “my iphone is so reliable, I’ve made 6 calls on it and it’s still working.”

[@craigestey489]

I’m in Nova Scotia, Canada & been looking at Toyota, Honda & Mazda, used. I’ve noticed Camry’s, in particular, they’ll get like 5 or 6 in stock, but pricing isn’t dependent on year, trim level or mileage. They are on the lot for a couple of weeks, then sold. But, they don’t get any more for about another month & the whole process starts again. When I asked the dealer about the sporadic inventory, he said, many are looking to buy an SUV, but if there’s nothing available or they get sticker and cost of ownership shock, they go to the bigger car that for some reason is priced the same as a comparable Corolla? It’s just a trend I’ve never seen in this industry.

[@jayabacromby675]

As a reminder the insrance, full coverage, on a new car will be much higher than one might expect

[@DeepDishPizza]

That’s not true. I have a new TRX and full coverage only costs me $74 a month.

[@jayabacromby675]

@@DeepDishPizza Good price DD. Congrats.

[@tharais]

Just checked mine this morning by calling my agent and inquiring what price differential would be between my current, 16 yo Toyo with liability and UI only and the new Lexus I was looking at, with full coverage. I was expecting it to triple or quadruple. But, it would only double. 🥲

[@KandidKanuck]

I am very much enjoying your informative videos. Phew! It seems like the Canadian Automotive Market is a little bit behind that of the USA. I just had two three-year car leases end in June, and I was lucky enough to get a good chunk of positive equity out of both cars towards two new leases. At first, I toyed with buying out the leases and waiting until interest rates dropped to make new deals. With car prices dropping in the USA, I'm glad I pulled the trigger now because my trade-in value or positive equity would have shrunk for sure in the coming months. Chances are, used car prices will drop faster than new car prices.

[@donbahn1319]

The interest pate for a used car in 2021 was 3.4% at the NFCU, new car rate was 1.9% today a new car rate is New Vehicle 36 months, 4.54% 60 months 4.99% 72 months 5.29% 84 months 7.19% 96 months 8.09% Used Vehicle 36 months 5.44% 60 months 5.99% 72 months 6.09%. interest rates like this causes me to hold off buying any car.

[@fueledbymusic3]

I don't know. But I seen a lot of new car dealers ads for certain cars at the 1.9%. At this point you can supposed to be get a better off deal buying new. Because you definitely can't get 1.9 on any used car for sure. Often it is better off to buy new sometimes in a situation like this

[@NurseMJ986]

Car prices are crazy. Wait a few years. Hopefully they will be more realistic and interest rate will go down. Or just save money now to buy new a few yrs from now.

[@csincos989]

With this current information, I'm not convinced that the used car market will change much this year especially the quality.

[@tritiyo_noyon]

I don't see price of RAV4 coming down

[@bp39047]

In trying to buy a quality used SUV, I am finding cash is now NOT King at most dealerships. Financing is the new King.

[@ankeetshah6822]

Can you expand on this? Why would cash NOT be the King? Especially since in the video they mention the used car financing is higher than a new car?

[@johnkonde1975]

@@ankeetshah6822let me explain, dealerships prefer if you finance over paying cash because they make more profit when you finance. So you should consider financing and then pay off the entire car loan within a month

[@sissymaid57]

dealerships make money on the sales price, the financing costs, the service and parts department, they prefer the customer to finance because that is another source of revenue

[@user-ot6dy1df5y]

@@ankeetshah6822 I believe it’s because dealers have the opportunity to increase the interest rate when they finance on behalf of the customer. So, more money for them in the end.

[@Jamo12]

You can always take whatever financing they have to talk down the cost on the car, then just pay it off with cash (a check) 45 days later when you get your official payment stuff. Just make sure you are allowed to pay directly towards principle without having to pay additional fees or interest.

[@kylecrawford5103]

I don't care how much they mark down the EV's. Most people do not want them.

[@MrPatski1]

Another update on Alan Samuels in Waco Tx, I use their transmission guy. He almost gave birth to a full grown hippo when I told him what Alan’s service department is charging for a remanufactured transmission. They wanted 19k, seriously. He Supplys them with the transmissions they use. I asked him to get me one that he gets them. 3500 bucks total. Not only are dealerships hosting the public, but they are also hosing their suppliers. I can’t wait to drive by dealerships on the highways as they implode on their own greed.

[@darkMeluca]

I spoke with a Toyota dealer last weekend who said they are starting to see folks who want to trade in cars bought during the pandemic with high market adjustments. He said they are usually shocked to see how little equity is in their trades because they overpaid initially and they end up rolling negative equity into a new loan, which creates a cycle of bad financing. At least with Toyota you can get pretty good deals on most models right now. I just made a deal on a '24 4 Runner TRD Off Road Premium for several thousand under MSRP (plus discounts from Toyota on top of that). I even got top-dollar for my high-mileage trade, which as you mentioned may not last given ballooning inventories. If you do your homework, stay away from the premium packages you don't need/will over pay for (TRD Pro in Toyota's case), and stick to your guns in terms of what you are willing to accept for your trade and pay for a new vehicle, there are definitely good deals to be had out there right now.

[@rebeccatrainor734]

I like Ray's picture!!!

[@jeffsuess377]

Do you guys know if this would generally apply to the Canadian market? How much overlap is there between Canadian and US numbers? Anyway, love the videos!

[@lazy5692]

I had been leasing for years. My last was a 2019 Lincoln MKC. LOVE the car. Looked at getting a 2023 Lincoln Corsair but WTF the price was crazy. Bought the MKC and will own it until repairs force me to get a different car. (Probably not new)

[@gunsandcars3648]

dealership chain locally does non haggle pricing, I tried buying a few cars, they wont come off one penny, but it sets and adjusts as the "market" goes, they say everyone wants to walk in and pay the price listed not deal any, so I wont buy from them even if I have to pay more somewhere else.

[@greenmarine5]

Good vehicles and good manufacturers sell themselves, this is why there are so many domestic vehicles that have an over supply, junk doesn't sell

[@ms.b9093]

The only Mazda’s with over supply are the more expensive SUVs. Cx-90 CX70 etc..

[@RealKevGotEm]

Yes.

[@stanmarcusgtv]

discount brand not equal to Toyota and Honda Mazda competes for customers w/ Nissan

[@dccd3237]

Mazda can be very good cars had a 2002 P5 wagon with almost 200,000 miles that I donated. mechanic checked it out and said he really thought the car would easily get another 200,000 more then picked up a 2019 CX five and it’s off to the same solid start. I also own a 2005 Nissan Armada, which is probably the last good year for that car value. Going to keep the Nissan till it simply won’t run and probably have another 15 to 20 years out of the Mazda. not a time to buy even though I could easily go out and get one the prices make today’s cars unapproachable

[@locknload4691]

@@stanmarcusgtvAnd Honda is no longer equivalent to Toyota's reliability in my view. My relatives and I have owned several Honda vehicles produced throughout the 1980s-2010s, and I wouldn't consider purchasing a Honda manufactured in last 10 years due to their unreliable power-trains (e.g., oil dilution problems, VCM technology, etc.).

[@tharais]

@@locknload4691 kzbin.info/www/bejne/oZ20p2qFjax2jc0&ab_channel=ExoticCarPlayPlace

[@fleghel]

Buying used right now is ridiculously stupid… If one can’t afford a new car- lease one! Think about as a rental policy (crazy deals given the desperation to move vehicles, so take advantage of that), wait till the prices drop and get a used as intended.

[@michaelw6277]

9.76% is the AVERAGE APR on new cars? Wow! I just got a loan on a new car for 6% which I THOUGHT wasn’t all that great…

[@kirkdunn1379]

I was upset I went from 2.49 to 3.9, 😂

[@darrenk3433]

I like your videos but I gotta say what you guys say is not actually what I’m seeing. Now I’m in the Canadian market so I don’t know if it’s just different south of the border. But im in the market for a new F150 and there isn’t a deal to be found. XL versions are selling for what I paid for a lariat 5 years ago.

[@J_Quinn_Creates]

Thank you for this video. It helped us get a great deal on a new car. We had been struggling with the outrageous used market, but wanted to pay cash. But low interest rates being what they are, it cost me next to nothing barrow enough to buy a '24 Outback Lmt. Super helpful guys thank you🎉

[@bpshyk]

Dang, I wish you had Canadian stats!

[@Engineersoldinterstingstuff]

In general the problem is that people and politicians confused the bubble of the economy with a normal economy. People have over spent - basically they will not be able to spend until they have payed of their previous over spending. No matter what.

[@giggittygiggitty7283]

What’s crazy is that Kelly blue book for trade on my car is 22-26. Dealers are offering 18! WTF yet they want top dollar for theirs

[@natee2goat]

I tried to get a 2024 Civic Si no markup msrp was 29,195 destinations raised it 1,095 and then the taxes and fee for a grand total of 35,595 🤦🏽‍♂️ for a lease it was 600+ a month

[@aaronwhite1426]

A statistic that would help understand where the APRs are currently at would be the average credit rating of each buyer at the time this survey was taken. It is difficult to compare my situation because I could be at an 800 credit score and the national average could be 650, 700, 750.

[@Suzonelove317]

You guys rock!!! I saved thousands of dollars by watching your videos! please never stop making your excellent content!! ❤️❤️

[@jerrychastain8567]

Trucks will never come down. Used to be that a sign of being middle class was driving a new vehicle every few years…at $80k for a new truck….im definitely low income class.

[@VanishingPoint]

I have been looking for a 2500 Ram for a few weeks, dealers barely want to give the 10% of msrp they have for the 230 models. They also keep saying we can only pay auction price for your trade. It will take another 6 months for prices to be reality based.

[@redgumtreeiv5956]

Thank you for sharing this consumer info! You guys are the best!

[@AbeRealest]

I was about to buy a certified pre owned 22 718 Boxster at 67k. I was gonna give a 15k down payment. However they declined me because they said my income isn’t close to the cars selling price. I hope it stays there forever

[@benge3x]

The fault in the algorithms here: most all the brands that have high inventory are garbage. Won’t last past 100-125k or less without severe drivetrain issues. I’ve been a Chevy guy my whole life, never again. I’m driving a 2.4 equinox with the crap piston and piston rings , was burning 2qt/1000. I’ve got it down to about a quart by using several carbon cleaner products. Just a matter of time and I’m on top of oil etc. GM has left me…..

[@jacquesc3166]

Great comment. Very few cars nowadays are engineered to last past 100K miles without major issues, DI being front & centre in this planned obsolescence ordeal....

[@matthewbrandley9027]

I know of one Ford dealer closing in April.

[@capstone9173]

Can you discuss the Jeep Wrangler situation? I rarely see them on dealer lots. Are they still selling well even with their ridiculously high prices?

[@stargazer57813]

The smart used car buyer will pay in cash.

[@OldManShoutsAtClouds]

That depends on their goals and interest rate.

[@saskias2739]

Just got my Lincoln aviator 7K under msrp. Was a great deal!

[@AlanElBee]

@CarEdge Start partnering with dealers in the LA - Vegas - Phoenix triangle. You're missing out on a major market. Many in any of these three metro areas would drive to one of the others for a good deal.

[@NitrousMiike]

I'm in the market for a used pickup, and the market is wild compared to when I purchased my current vehicle in 2018. Even with trading in my current truck, my monthly payment is going to be higher for a lesser trim than what I have currently. I'm basically paying more money to downgrade.

[@johnmayerislovee]

Thanks for your stream. In your opinion, which date is it cheapest to purchase a new Honda? 1. Memorial day weekend 2. July 4th weekend 3. June 30, last day of month and last day of quarter, last day of calendar year Thxs

[@Trd2020]

A month ago CarMax was lowballing me for my van. They raised there offer $800 more now!!! So clearly something is going good for them. Only reason I can see the higher offer is that they are actually selling vans and they need more inventory

[@DeepDishPizza]

You’re better off going to a different dealer for a higher amount. You can also use photoshop and make a few trade in letters from dealers in the area. Works every time and they never call to verify.

[@ronyeahright9536]

i think Carvana is better

[@williekenk]

If you are paying outright cash is it still a bad time to buy used?

[@derekisthematrix]

Yes. Prices are up but it comes down to whether you really need to buy a vehicle now or fix/maintain what you have. IMO keeping what you have is pretty much always the best answer.

[@danivasquez2441]

@3:26 you say that they have an oversupply and need to offload, but the "car edge recommendation' is: :"try to negotiate a deal but don't be surprised if they don't budge." why is that?

[@ArticulateArena]

Should i buy a 20k used ct6 twin turbo or lease a maxima sr for 250 a month? 404 hp sounds nice, things basically new..

[@Christdeliverme]

Holy Smokes. The CT6! If not point me in the right direction

[@ArticulateArena]

@Christdeliverme thsts what i thought. I'm going in mon/Tues next week. Beginning of week end of month :D.

[@JORGELOPEZ-ik4fg]

Hi. In Florida, Toyota dealers are still asking market adjustment in the 3 to 10 thousand. And people are paying it.

[@CodyPexton1]

Used 2020-2022 Toyota Tacoma (probably settling on a '21), TRD Offroad. Buy now or wait? Toyota Tacoma trends seem to be different than the others. But I was hoping to have something to use this summer.

[@dougveres6405]

Selling my 2014 tundra. ❤

[@blamsw3783]

Do whatever makes the most sense for you financially. Tacoma trends are wack, Tacoma owners sell their old ones for laughable prices and Tacoma bros pay for it. (I am one). With the current Toyota zeitgeist there won’t be a “good time to get a Tacoma” unless you find a divorcee who has to be immediately unload his/her assets or a similar situation. Just do what makes sense to you and don’t get one of these wild interest rate loans.

[@CodyPexton1]

thank you for the insight!! @@blamsw3783

[@derekisthematrix]

FYI Tacoma production was moved from San Antonio, TX to Mexico in 2022 so I'd only look at a '20 or '21.

[@derekisthematrix]

Also, I'd only buy a Tacoma if I was keeping it for a long time. If you're going to get rid of the truck in only 3-4 yrs I'd get something cheaper.

[@E85_STI]

So how much should a used 2024 Gt premium mustang cost with 1,300 miles vs a similar brand new one? Like how do I know how much to ask them to bring it down under MSRP for the used is there a percentage that used cars should come off new pricing? For some reason this used one with 1300 miles is almost as much as the brand new but kbb says it’s only 47k max price

[@carls.2071]

Just started following your channel because I'm in the market for a cargo/passenger van such as the the Mercedes Sprinter on the Ford Transit to convert to an "adventure" van. I'd be interested to see a video dedicated to these types vehicles.

[@DrSarge37]

I am going to need the interest rates to start going down though... The average is about 5.6% and I am currently below 4.5%... However, I am still seeing markups on things like Ford Broncos which is the vehicle I have been looking at for a couple of years now. And I am in the Phoenix, AZ area too...