2025 Used Car Market UPDATE

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Today on the Daily News You Can Use, Ray and Zach discuss the latest data on the used car market. Tune in to learn more!

[@tdz69]

Two things we can always count on here on KZbin. Scotty Kilmer is always announcing R.I.P. and Zach is always Dealing with a headache on the video thumbnails. Lol. All jokes aside, great info as always!

[@DarrellBright-vx5ke]

I too have tried to buy new and used Toyota's, all Highlanders, but one dealer on a new one wanted $2500 over sticker plus the add on's, another wouldn't even return my call, and a third would sell at sticker, though all were on vehicles that were in production and not yet on the lot. All of these vehicles were from 150 to 350 miles away. I looked at two used vehicles, both 2021's and one dealer was stuck on the sticker price and the other was willing to bargain but only slightly, not at all like in the pre-covid days. I keep watching youtube videos about repossessions and folks who are walking away from high payments but the predicted lower used car prices are not happening, at least in the mid-south. In fact, most of the car dealerships are placing the used cars in front of the lot in prime selling space because they are apparently making more money selling used cars than new. The closest Toyota dealer had seven new models the other day and they were all parked in the back of the dealership and some were pre-sold. That being said, I also visited Lexis, Acura, and Nissan dealers with so many cars on their lots, that they had to move some of their inventory to the adjacent streets, to open fields, or to the curbing each day, just to be able to allow access to their lot. I don't see how dealers are staying in business with so much inventory on their lots and yet refusing to deal.

[@madaamstier54]

I recently picked up a used jeep but shopped for a used/new rav, used/new 4 runner. and used jeeps and spent about a month talking to dealers finding nobody wanted to make a deal. Whatever was posted on their website thats what it stayed at. Nobody wanted to move away from that price point.

[@FilthyFauci]

I’m experiencing that too. Oklahoma

[@NVRAMboi]

Sounds like you might benefit from hiring a "ringer" to do it for you (CE or CE concierge). If you're not seeing any movement across multiple dealers, something might be less than optimal on your end of any proposal/negotiations. Just an observation and not meant to be an insult. Don't give up.

[@b1gdan0]

Same. When searching nationwide I find the lowest and best deals, get a hold of them, they’re all unwilling to move as they say they’re already losing money on the deal

[@snipe-won]

I feel like Zach dies a little inside every time his dad calls him handsome lol 😂

[@KevinScottMaines963]

Makes me cringe, EVERYtime! Ray, please stop.

[@NVRAMboi]

It's like my old Dad always told me:, "Son, if you want something done right, then get someone else to do it - cause you're a big fat loser." :o)

[@lponm]

It's very embarrassing and amusing

[@alb0zfinest]

Nah, he likes the ego lift lmao.

[@BigEd1001]

Probably 40% of the pickup sales are commercial sales, not retail.

[@LuisGrullon-oc1hh]

Love the comparison, thank you and the team!

[@tman9517]

We purchased a 2018 cpo GMC Canyon in 2018 for $36,000. In 2022 we sold it back to the dealer for $34,000 due to the car shortage. Turned around and leased the same exact truck but a 2022. Since it was the last year of that body style they were not selling and got a great deal on a new one.

[@briangriffin-ir4nk]

Last new car purchase was 24 Corolla for commuter car and the previous one was 23 rav4. 2 previous vehicles were Toyota’s as well. Was a ford buyer for 25 years. So glad I switched.

[@azucena688]

Do y'all still have drones flying around out in NJ??

[@JA-zh5xi]

The pick truck sales are why people have $1000+/month payments and why most Americans live paycheck to paycheck.

[@SigFigNewton]

While the the portion of the US living in rural areas declined and family size declined, the portion of people buying large personal vehicles increased.

[@SigFigNewton]

Context helps one realize that people aren’t buying them because they need them. It’s a hugely successful decades long marketing campaign to make people want more car than they need

[@SKLIFEstyle]

I thought Ray was cold, but Zach has two coats on... 🤔😆 Hope the heat comes back soon big guy. Great show as always.

[@NVRAMboi]

Someone needs to rent a Polar Bear halloween costume and randomly walk around in the background. Maybe Uncle Kenny. g

[@smooser]

You can add to the list people buying out their leases because they were worth way more than their buyout.. my wife bought out her Volkswagen Tiguan for 14000 while it was worth 24

[@Raec123]

Bought out my Lexus for $26k, was worth $40k

[@BrandonSutton-vv5yx]

You know what would be great, if we could somehow add your concierge servies charge into the finance deal for the vehicle. Like that would be amazing to not have to come out the pocket if you're financing or have the equity in the vehicle you're trading in.

[@veelowmuymalo7258]

I was going to buy my Nissan lease out March of '22 and the dealership offered me $2,500 to walk away from the lease. We agreed on $3K

[@FunPHYSICZ]

Last Month, I purchased my 48-month leased 2021 GMC Sierra with 51,000 miles on it from GMAC for $32,400. I immediately sold it to Carmax for $40,500. (Carvana offered me $40,000). I made $8100.

[@bomberaustychunksbruv4119]

Ha Mad. I bought a Nissan Patrol into stock one time for $8500 and sold it for $25,000 end of lease cars are rediculous. (Australia)

[@john_nip_nop]

Fewer recent used cars at dealers (are all dealers included?) - Ray is correct on the first two reasons, but missed the third. 1. Gap in number of manufactured vehicles during the disruption - check. 2. Fewer lease returns - check. 3. Is a big one - people are keeping cars and trucks longer. Many people know that their 7 or 8 year old (paid-for) machine is better (more reliable) than the new (or 1, 2, 3 year old) over-teched, super-trimmed crap (from nearly all brands.) Unless the old one is driven into the ground or rusted out, better to stay with it. They really DON'T make them like they used to, Zach, so yes - the new ones are the plastic crappies. Anyway, the new junk is way too expensive to afford. The quality falling off the cliff is a moot point.

[@RyanBlockb5]

If Stallantis has discounts.... deep discounts. I might consider their cars.

[@richardsracingmad]

If you want anything “lumpy” used like a Range Rover or anything big engine,..fly to the UK and import it. Car Tax ( annual tax to use the road) and compulsory Insurance to drive it, is getting out of hand cost wise. Therefore, the lumpy stuff does look cheap. I wouldn’t mind a Cayenne or Tourareg, same car different badge

[@breckfreeride]

Told yall it would finally come... Im starting to see tremor 150s, 2 or 3 years old, with leased mileage 20 to 30k off msrp... Actually attainable. I bet it keeps going or even accelerates.

[@NVRAMboi]

You are correct sir.

[@scfpmd1955]

There must not be any heat where Zach does the show.

[@KevinLaut]

Whats the total of sierra and silverado? more than ford f?

[@SuperFredAZ]

How about a $25 space heater?

[@geraldh.8047]

What monthly payment would be right for your budget? I’m sure our finance department can offer you a great deal.

[@Meriswhitacre]

This car market sucks for someone needing to save money. You got used cars going for new car prices So stupid. Smh

[@NVRAMboi]

Very very much depends on the model(s) and segments the buyer is considering. It's still possible to buy a new vehicle w/o getting "violated". (ie: Models under $25k that will last 10 years or more.)

[@gamingwitharlen2267]

It’s only for select cars that are quite new. Most cars that are 3 years old have depreciated a decent amount.

[@Meriswhitacre]

@ that’s a lie. There 2014 that are 20k.

[@JA-zh5xi]

2025 may very well see substantial new car deflation. If CDJR lowers their prices aggressively, and there is talk they will, it will force everyone else to lower them as well.

[@NVRAMboi]

Toyota, Honda, Mazda, and even Subaru could stand to make their MSRP's "thinner".

[@mayatuck]

Why would a dealer ask to upload my license after putting a deposit down? DSGSS Compliance?

[@NVRAMboi]

Identify verification at minimum.

[@mayatuck]

@NVRAMboi As long as its not authorization for credit checks.

[@MtdewDrinker]

My leased Jeeps always had equity at the end

[@bomberaustychunksbruv4119]

My mate used to lease top level Landcruisers (Sahara) and spec them out at buy time. Then lease for 2 years and sell private. A couple of times he's actually made money on them, as they went mad for a time here (Oz), you could order one and when they came in the dealer would ring and offer you $25 K to exit the que for some schmuck who was going to pay the extra. He basically was getting 2 years driving for free and then get a new one!!!!.

[@joedyer1785]

Thanks

[@breckfreeride]

How may repo vehicles are totally trashed?

[@NVRAMboi]

No idea on the percentages, but from firsthand experience I can tell you that not all of them are. Great car (Mazda) and perhaps my favorite of any I/we've owned. After 11 good years and 120k+ miles, wife "wadded it up" in a minor traffic accident. Ins.totalled it. I wanted to cry. Still miss that vehicle.

[@enokradfonos8686]

I seriously get sick of people talking about how terrible the economy is and the price of gas while they are buying a new insanely overpriced pickup truck because they "duhn need a teruck". The exception is if it is specifically to haul tools and/or tow trailers for your job then I do sympathize. Otherwise, that is like complaining about finger pain as you continue to hit it with a hammer.

[@SigFigNewton]

There are definitely people whose lives are made significantly easier by owning them. But looking at some trends makes it clear that a huge number of people are buying more car than they need. fraction of people in rural areas declines typical family size declines …and far more people are buying large vehicles?!

[@vtbluerider]

Boy, Ray really hates pickup owners. Not all of us live in the asphalt urban world of NJ. 😂 Can I put a snowplow on a mini?

[@HarryTwatter]

I live in truck country and hate how most of them drive

[@franklempka2159]

Hahaha

[@SigFigNewton]

Ray understands reality. While the fraction of people living in rural areas declined AND family size declined, The fraction of people buying large personal vehicles increased

[@SigFigNewton]

There are people harming themselves financially buying more car than they need

[@edwardkrochmal8268]

Leases required more on deposit up front.

[@jasonbaxter5502]

Yall know there is this thing that was invented. You can plug them in and it makes heart.

[@breckfreeride]

Sorry ray, the number of vehicles lost from the plandemic does not negate the price increase on the new vehicles. People are finally divesting from the huge payments and no one will pay obscene prices for a used vehicle. These high prices will become an albatross as dealers will not be able to move them. Prices will continue to drop. You forget that the current fleet on the road is the oldest its been and the failure rate, with the lack of good mechanics, will force people to either fix it themselves or look for a cheap used vehicle. They will likely choose older vehicles that are affordable. The new ones wont sell unless they drop the prices to a more reasonable number.

[@Jay-wk9xj]

This is the correct take. People are dreaming if they think any of these markets are coming back any time soon.It hasn't even started to really plummet yet...

[@sandralewingpa3055]

I know how to negotiate but it is always a hassle

[@NVRAMboi]

It is, but now you can pay someone reputable/knowledgeable to do it for you.

[@crazygame2724]

I love Ray. Reminds me of my old Dad Ray. My Pa would be 106 yrs old. Seeing Ray bundled up reminded me of my Dad; All bundle up driving the car with heater on full blast. Zach you are lucky to have your Dad.

[@cse217]

I agree Ray rocks and reminds me of my pops. Good times

[@kwilliams1958]

Ray, every day, is a good WAY TO START YOUR day!

[@RideMoreNow]

Stating that Stellantis is going to cut X% across the board is total bull. It has to be on a model-specific basis. In the case of some leftover 2024 models, they are already discounted 15-20% with incentives, and another 5-10% by the dealer. This has put them in a much better competetive position, and discounting them any more would place them below their competitors, which just won't happen.

[@RONderluck]

My wife works for Stellantis corporate and she said that the 30 to 35% off is a real thing but will not occur until the end of January beginning of February and only in certain demographic areas

[@clarencehowell1986]

Years ago I did 1 month during vacation. Just to have extra $. Not years 😂

[@unitesupportking3439]

Cant believe ppl are buying used chargers. Im seeing 2023s with 20k miles for 30k canadian when they are 50-55k new. Crazy

[@Blackbelt-Shaq]

The thing that kills me is seeing a used car at the same or higher price from when it was new…. Mostly only looking at Toyotas tho lol

[@NVRAMboi]

hence, "The Toyota Tax".

[@EmmyPierz-ek7hi]

TAXota?????

[@gamingwitharlen2267]

Then look at other brands or older Toyotas that are at least a few years old.

[@IamnotJokic]

Slightly confused since the data being shared seems to contradict what your father is saying. Why would used car prices remain consistent or even rise if customers are getting less for their trade ins? A customer in the market for a car is going to get a car, regardless of their trade ins. Or are you saying that less people will buy new?

[@germanjimenez5968]

You asked who is buying all the Silverado? Big companies,eg, electric, phone, etc.. The big farmers and, of course, the regulars normal people. Well, in my area. 🤭🤭🤗

[@sandralewingpa3055]

Trying to buy a new car. Just hate the process.

[@markymark8949]

Most i search are 2018 to 2021.

[@breckfreeride]

You city folk can ease up on kicking truck buyers... Some of us need them and work for a living... A bicycle isnt feasible in the frozen tundra where i live and we need to carry tools and survival gear.

[@deantandeski6776]

Trucks are too expensive when comparing the average income and the average price per truck. We never talk about cost of ownership or the feeling of independency as owners when auto owners are able to repair their own vehicles vs when we are required to take vehicle to garage?

[@RONderluck]

I just feel bad for the poor people that can’t afford trucks. What people really need to do is actually better themselves and get better paying jobs.

[@nickeckemoff7631]

GM (chevy and gmc) trucks combined were higher than Ford.

[@gregoryranney5911]

Why is my 2022 Blazer crushed, $16,000 trade in value,

[@lponm]

Ray, move to Florida already.

[@DonJohn-h8l]

I have noticed a lot more cheaper cars on the market.

[@NVRAMboi]

agree - but I'm only browsing used models.

[@shawngoodwin1167]

looking at all the information the rest of the car market better pray to God Tesla doesn't come out with a $25,000 car this year or next year

[@unitesupportking3439]

Its coming

[@katazack]

Any type of $25k car is going to attract buyers

[@KevinScottMaines963]

JESUS SAVES

[@chad.765]

Get a life

[@timkis64]

remove fleet & commercial sales & im sure its a different story on the total volume of pickup truck sales.only corperations can afford fleet orders anymore.even with a volume discount.who can afford 25 to 100 65k dollar trucks.CORPERATIONS!!!!

[@cse217]

Love you guys Crack me up

[@captaintoyota3171]

Been saying it this push for EVs isnt good for enviroment or working class. Working ppl drive 3-15yr old cars on average. 10yrs is a good number. Well EVs are dead at 10-15yrs, batteries are 10k $$+/-. So with that and complexity for complexity sake in modern cars is going to push used cars through the roof. My 90s toyotas are tanks and have already stopped depreciating. Yeah this ev push is crazy its power plants manufacturing aero sector that pump out pollution. Not ur average 10yr old car

[@dsrq-h3l]

Not a 40 minute topic. Should be 12, 15 minutes tops. Gotta broom you.

[@RONderluck]

I disagree

[@adriandenson2014]

For the algorithm

[@inthevault9603]

Zach, it’s been established without a doubt that your dad thinks you’re the most handsome man to have ever lived. ❤ Adorable. 😂💙

[@KevinScottMaines963]

Please don’t encourage Ray to continue that!!!

[@jamesedwards8308]

3

[@danklein8587]

Do you guys live stream from a refrigerator ? Coats and gloves. Pay your heating bill. WTF ?

[@FilthyFauci]

He has a condo and the heat broke.

[@linuxxr-d]

shop shop shop an dont buy

[@Funkydood]

All dads consider their firstborn son THE most handsome men on earth! At least MY boy is!!!

[@wdxwm300]

Repos will help the used car dept there are more happening every day

[@preeyakumari-i2q]

Most of the repos are wrecks, with so many out there, by the time they repo the cars, do to shortage of repo bodies, they vehicles are trash, cause the owners haven’t maintain them for a couple of years cause they know there’re gonna get swiped

[@colethomas1737]

You guys clearly do not understand Macro/Micro economics. As of today credit card/household/corporate/bank and government debt are at record highs! Bankruptcies defaults and write offs skyrocketing. Interest rates soaring with 10 year Treasury near 4.7% and 20 year at 5%. China and Germany are in depressions now. S. Korea WON, China Yuan, Japanese Yen, Indian Rupi, and Brazil Real currencies near collapse. IE...total collapse will happen in next few weeks meaning EVERY dealer and auto manufacturer will close leaving millions of vehicles to rot except for us who know these facts and will go take them for free! I already know where to go get the 2 new Prius Limited cars I want!! For the prepared like me we will be singing....HAPPY DAYS ARE HERE AGAIN!!!!!!

[@rotart12arx3]

The doom and gloom is predicted all the time, it is not going to happen. People have near record equity in their homes with many holding interest rates under 5%. There are plenty of low interest rate on new vehicles, there are enough buyers for the popular models that big price cuts will not happen. Bankruptcy Filings is still lower than the last 20 years, and no where near pre-pandemic filing numbers.

[@colethomas1737]

@rotart12arx3 WRONG! That so called equity is valued in the near worthless dollar which will be destroyed as soon as it destroys every other fiat currency.