I see some people without any industry experience giving lots of negative feedback. As someone who actually worked in the industry and was quite successful, thank you. Thank you for updating the masses on industry trends and revealing worthwhile information. Y’all rock!
I am lucky that I can do work myself on my own cars. Problem for many people is that they live either in apartments or housing areas controlled by HOAs. Car repair or maintenance like oil changes is rarely permitted for those residents.
I love you guys. My husband and I did everything wrong at the dealership. We will now wait a while to buy. We offered cash up front and we’re really excited. Luckily we did not buy. Came home and watched you guys
Always enjoy listening to you guys for nuggets of information of the car industry with a bit of humor. It reminds me of the Click & Clack show with the Magliozzi brothers that I would get me through the week with a smile. Since Ray is in NJ maybe we can call you the Bada & Bing family and thus the Bada-Bing show ! Thank you for the info!
I have my oil changed 4 times per year and I don't drive that much, often less than 10, 000 kms per year - but a fair bit of winter idling -, on the other hand, I have not had any falied engines yet, just lots of other stuff wears out or rusts away.
Ya'll do a great service. Keep it up. One thing about the 'books' you use to determine values...at least in every experience I've had with a dealer, when I make it apparent that I have values from a particular book, the dealer has ALWAYS said, "Oh, we don't use that so what you think the car is worth based on that means nothing to us." Didn't matter if it was NADA, KBB, Black Book, they always said, "Meh, we don't go by that." Just one more reason to never deal with name brand dealers.
A car is always worth what another person will pay for it. If you do not like the trade offer from a dealer or an offer from anyone to buy the vehicle, your option is to look elsewhere. All those book values are estimates, actual values may be more or less. Typically if your trade vehicle is desirable, trading at a same brand dealer is usually best.
The data will never tell you how many cars people WANTED to buy, it will only ever tell you how many they did buy. When the average or median sale price goes up despite the average or median wealth not going up to match, it means people are caving and paying more for less out of desperation. Most automakers have been selling far fewer cars over the last few years than they would have if there were not various parts shortages going on, so the demand is WAY higher than the supply. If you're buying a Toyota in Canada, the wait for a brand new gas car is 5 months, and the wait for a hybrid is 18 months. These sorts of numbers are unprecedented. That's probably why so little of these numbers seem to make sense.
Used cars are so high because new cars are unaffordable. Many can no longer get approved for new car loans because of bad credit history lack of disposable income for a loan with the amount required for a new car or the size of down payment required as a percentage of new car prices
From The Big Crapola to The Big Deal by July when seasonal summer gas price spike drains what’s left of people’s cash. Driving my ‘02 proudly till then.
I think the prices at auction ticked up for two reasons. The first is the cars that sold were purchased when interest rates and prices were low 3 years ago so the sales price at auction was lower relative to newer cars and second there aren't many 3 to 4 year old cars in that sweet spot so the cars that are in good condition and have a lower price due to age and better initial fiancee terms are now the ones every dealer is looking for thus bidding up the price.
I know Ray said he was guessing, so I'm not trying to be overly critical of his opinion, but I do think he's wrong about what cars are selling at auction and which ones are not. I do not believe the cars that are selling are the newer (2018+) vehicles with low miles. They appear to be high mileage cars of various ages, mostly 2017 and older, and lower mileage older cars (2005-2012). You can watch any of the channels here on UA-cam that post videos of the auctions and make note of the vehicles that are moving. Look at how many sub $15,000 vehicles are selling vs $25,000+ vehicles. The vehicles that are selling easily seem to be sub $10,000, and a lot of negotiating seems to start in the $11,000-$15,000 range. The only newer vehicles that seem to move at all are very specific models, and even then, they aren't often selling right out and are being negotiated after. Most people are low on cash right now, and interest rates on used vehicles and much more strict loan requirements are putting the hurt on credit only consumers. The good, reliable, low mileage, used vehicles are still priced at $25,000+ right now. With new inventory becoming more plentiful, many of the people who are looking for good vehicles in that $20,000-$35,000 range are much better off buying new, especially as some incentives and under MSRP sales come back. The extremely high used car interest rates are eating up the difference in price compared to new, essentially. The price increases at auction seem to be fueled by dealers attempting to time the market. Tax season, obviously, is the largest contributing factor, but there are other reasons that I think dealers are trying to buy up as many cheap cars as possible. A lot of people are not paying their new car payments, are canceling their insurance, and are unlikely to catch up. These people will need cheap cars if their new vehicles are repossessed, and many dealers are counting on it. The problem seems to be though, that a lot of dealers overestimated how much people would get back this year. There are already dealers mentioning sales slowing down dramatically this past week. That makes sense because many got their returns back earlier this year. If sales drop off the next few weeks, these dealers will have made the same mistake that they made 8 months ago by buying inventory at inflated prices instead of selling current inventory while they could. There are other things coming as well that haven't yet reached the market. (1) Businesses are just now having to pay back their EIDL loans. (2) SNAP benefits are going back down in March and will cost low income households hundreds of dollars per month. (3) Many will lose Medicaid coverage in April. (4) Student loan moratorium is ending in August, and 40M+ people will be required to start paying back their student loans again. Lastly.. the crashes in 1929, 1987, and 2008 all happened in late September through October. I'm not a betting man, but if I was.. I'd bet the market looks entirely different come late summer.
I’m in the negotiating process right now to purchase a larger cargo van just off lease. My lease is ending very soon on my van but I need a larger one for my work. The best thing for me to do is buy out my lease and keep my van but since I need a larger one it’s the purchase I need to make. What the dealers are doing is keeping prices relatively the same if not a little more competitive than a year ago but they are willing to do some slick financing numbers to make the deal. As you may have guessed I am Canadian. We lease more than buy in Canada. My deal is also subprime because the banks think I was a naughty boy yet have never missed a payment in any of my loans they just think I’m over leveraged. Banks only have a picture of present conditions and don’t see the immediate future of my business. In conclusion the banks are getting tight, my credit score is not stellar but I believe the bigger van is important for my business and the lease company is taking a risk at a premium interest rate.
Thanks for another informative video. I get phone calls from the used car dealerships every couple months. I keep telling them I am not interested buying a vehicle in this bloated market.
Not in line w/ your chosen subject ... wonder if a professional detail in and out would improve my trade in value. It's a 2015 Lapis Blue Subaru Outback Limited which black books between $16,500 and $ 18,500. 49,450 miles. I personally keep the interior up routinely and wash exterior by hand as weather permits. One aspect is paint correction esp for miscellaneous light scratches. Locally here in WA State that would cost about 400-500 dollars. Thanks, Chris
Hello, I'm a new subscriber, love the info/channel and the fun banter between you all 😊. Keep up the great work, you're helping alot of us become more empowered. 🎉🎉❤
Make a chart telling when historically each brand do promotions that make buying cheaper so if considering buying we know hT can be known of the odds of an upcoming promo.
IMO - That is a good idea. I want' to know when to start checking for deals. FFYI - with the continued interest rate increases don't know if I will buy this year.
Price bubble probably due to decrease in new car sales=decrease in tradeins= decrease availability to used car dealers=price up. Also used dealers wanting inventory for Tax Refund time.
Zach/Ray, If now is not the time to buy new since prices are so high, is it okay to be bolder and make lowball OTD offers to see if you can snag a good deal from someone?
%49 sale rate at auctions was over at the end of December. Wholesale market started declining in summer but the insanity kicked back in 2 months ago. Market went through the roof in January and it's still going up week over week. Inventory levels at auctions are at their lowest levels since the pandemic started.
Good Evening All 🙏: Thank you guys a terrific channel 😀!!! Up here in northern N.J. I resumed my search for a Toyota vehicle. When you GREAT guys predicted that new car dealers would begin rolling back this MARKET AJUSTMENT NONSENSE that is exactly what began happening to a point. WELL THE BAD NEWS IS that it's back to beyond MSRP & ABOVE. These crooked car dealers should go out of business !!!!! 😤 IMHO this is just screwing any prospective buyer !!!!! Love the channel ❤️ & the staff, TMP from N.J.
I found out a long time ago while filling out a loan application that I was showing I don't need their money. I haven't had but one new car in my life and it wasn't a good choice. Live and learn. Thanks guys.
I follow you almost every single day! Love you guys. Quick question. My daughter purchased 2019 Mercedes C300 with 2 previous owners yesterday with 12,901 miles for around 32,500 with 5 thousand down..72 months. According to my Finance guys in NYC Mercedes include GAP insurance, it’s not sold separate?
Sean, I have never heard of GAP insurance automatically being included, it is a separate item and sold as such. My guess is that the Finance Manager intimated that it was part of the loan without disclosing the cost and how it impacted the payment. All the best, Ray
Some companies do include GAP coverage in leases. I leased a BMW a few years ago which included GAP. MB might be the same. No lending company includes GAP in the financing contract. As noted in many places, the dealer F&I manager is the most unethical character a car buyer will meet at the dealership. They should never be trusted. Be polite but be skeptical and verify.
Question… here’s my dilema I have a 2015 Honda Accord I want to sell/trade it in for a new (or used) Toyota Tacoma. Should I buy now because I’ll get the most value out of my previous car or just wait till we can get deals on new cars ?
Have no Idea, just did a search for a Maverick AWD.......not one at MSRP...all within 250 were dearer mark ups over MSRP. I will not buy at those price period.
Steve from Florida I enjoyed your video thank you for doing it but up here in nw Florida 3 of the 4 large car lots still are very low on both new and used vehicles what are your thoughts on this so probably it keeps the vehicles still very high
Any idea what a good price is for a 2022 Jeep Grand Cherokee 4xE Limited model? Dealerships are refusing to budge off MSRP (and then $2000 manufacturer discount), yet it's 2023 and the car is a year old and every dealership has 6+ sitting on their lot. Reached out to 4 dealerships and the story is the same. Any help? Edmunds says $57,000 yet everyone else is saying MSRP "of $63k
Why is Honda HRV less than a Honda Accord? Are HRVs harder to sell, not as good a car? Do not retain the resale value as an Accord? Please give your opinion. Thanks.
Guys, don't you remember you saying the lack of inventory over the last year or 2 will drive car prices up? It wasn't that long ago. Couple that with inflation, and you will see car prices staying high. If the FED continues to raise interest rates, and causes a deep recession or depression then yes car prices will drop. If that happens, we probably won't care about how much a car is.
Funny how 300,000 mile Toyota gets pooped on. But in my experience driving 40k a year, they have the very lowest operating cost of any vehicle. Cost per mile less than $0.25
You hit the nail on the head! It is nearly impossible to find a decent (no accidents, under 125k OD, decently priced) used 4WD truck now. A week ago, there were fleets out there, just as you predicted, and now they are gone. Those all had snow plows on them (bleh), but might have worked. I'm gonna keep checking and will wait it out. Thanks!
I wonder how many defaults are the result of buying inherently flawed vehicles with additional issues that the stealership know about but failed to disclose.
Nice video. tho gotta challenge what you said Zach at 06:21 stating that it's not Carvana themself, but rather it's the lending landscape. With all due respect that is categorically incorrect. You are indeed aware that Carvana operates 10x more fraudulently than the rest of the car industry right? There's a class action lawsuit against them, plus Illinois and Michigan have revoked Caravan's license for taking peoples' money but never delivering the cars, which Carvana did in other states as well. Carvana has been indicted by state prosecutors in multiple states.
Check out UA-camr Aubrey Janik's video "A Deep Dive Into This Massive Carvana Scam" as well as her 4 update videos on Caravan's continual wrong doings. She show how father and son who formed the corporation, structured things in order to skim money off the top (straight to them personally), before the revenue even gets into the corporate books and to the shareholders.
Exactly. It's the sub $15,000 vehicles that are selling, and specifically the cheaper $5,000-$9,000 vehicles. If people can't afford a new car at $40,000 to $50,000, then they most certainly can't afford a $30,000 used vehicle with current rates and loan requirements.
I cannot believe a dealership would sell a car for 51,000 that has 308,000-miles the dealership must be total idiots because no bank is going to finance a vehicle with 308,000-miles for 51 grand and no one can come up with that much cash because there is going to be a whole host of repairs that will need to be done ✔️ to the vehicle. I can’t believe that dealership is that big of a idiot. They need to drop the price of that vehicle because it isn’t going to sell for that much money with that many miles on it. Dude it is a high mileage vehicle. 🙂
Zach, until you start seriously tracking unemployment, you will never understand the car market. Surprise - unemployment is at historic lows. Also, high auto costs are being mitigated by rising wages and extended loan terms. At 13% used car loan rates, there is plenty of capacity for defaults. It is a Cinderella story.
Wages are not rising commensurate with the price of vehicles. Extended loan terms do not mitigate auto costs, they actually make vehicles cost more overall. Employment may be high but most of those jobs are not high paying and they do not enhance the car buying power for those people working low paying jobs.
Still just conjectures and that too wild ones. Maybe the pressure to post videos everyday leads to repetition. There is just a trickle down in prices not inline with your repeated predictions of crash or bubble burst...
A clock that stops working is also right once a day. Your comment, too, refers to lack of any intelligible prediction if you keep on shifting the time horizon.
No one can afford new cars....Dealers have no choice but to get nice used cars otherwise they will go away. Hell where I live most of the car dealers are now owned by one company...
Many, many people actually can afford new cars. I see new cars in my neighborhood every day. Three of my neighbors just this week bought new cars, a Jeep and a Honda, and BMW.
Have you dudes read the BIG warranty you are pushing with Car Edge??? Specifically, Section 8....lol, they could put in one paragraph what they DO cover. Wow, you don't get much for 3K!!! Come on guys....
Let’s see here…the rich get richer AND bailed out? The automakers will get a government bailout and the dealers are just have to wait a little for the money to trickle down as rebate, incentives and price discounts. 🙄
Can you please do a show on what Electric vehicle adoption rates mean for the internal combustion engine market .Tesla has pricing power and California just announced $9,000 and $15,000 state rebates for electric vehicles add that to the federal rebate s and why would anyone in their right mind buy an internal combustion engine vehicle 😮
Why does it take over an hour to state your information. Unless your viewer is a social outcasts your average viewer won’t invest more than 30 minutes for your type of content. Stop repeating yourself and the extraneous info. The more precise your content the more viewers you’ll gain.
I see some people without any industry experience giving lots of negative feedback. As someone who actually worked in the industry and was quite successful, thank you. Thank you for updating the masses on industry trends and revealing worthwhile information. Y’all rock!
I love watching this father/son pair. Their insider knowledge is interesting, regardless of their abilities to predict the future.
They predicted the future.
I am lucky that I can do work myself on my own cars. Problem for many people is that they live either in apartments or housing areas controlled by HOAs. Car repair or maintenance like oil changes is rarely permitted for those residents.
I love you guys. My husband and I did everything wrong at the dealership. We will now wait a while to buy. We offered cash up front and we’re really excited. Luckily we did not buy. Came home and watched you guys
Always enjoy listening to you guys for nuggets of information of the car industry with a bit of humor. It reminds me of the Click & Clack show with the Magliozzi brothers that I would get me through the week with a smile. Since Ray is in NJ maybe we can call you the Bada & Bing family and thus the Bada-Bing show ! Thank you for the info!
I have my oil changed 4 times per year and I don't drive that much, often less than 10, 000 kms per year - but a fair bit of winter idling -, on the other hand, I have not had any falied engines yet, just lots of other stuff wears out or rusts away.
Ya'll do a great service. Keep it up.
One thing about the 'books' you use to determine values...at least in every experience I've had with a dealer, when I make it apparent that I have values from a particular book, the dealer has ALWAYS said, "Oh, we don't use that so what you think the car is worth based on that means nothing to us."
Didn't matter if it was NADA, KBB, Black Book, they always said, "Meh, we don't go by that."
Just one more reason to never deal with name brand dealers.
A car is always worth what another person will pay for it. If you do not like the trade offer from a dealer or an offer from anyone to buy the vehicle, your option is to look elsewhere. All those book values are estimates, actual values may be more or less.
Typically if your trade vehicle is desirable, trading at a same brand dealer is usually best.
I love how honest Ray is 💛
The data will never tell you how many cars people WANTED to buy, it will only ever tell you how many they did buy. When the average or median sale price goes up despite the average or median wealth not going up to match, it means people are caving and paying more for less out of desperation.
Most automakers have been selling far fewer cars over the last few years than they would have if there were not various parts shortages going on, so the demand is WAY higher than the supply. If you're buying a Toyota in Canada, the wait for a brand new gas car is 5 months, and the wait for a hybrid is 18 months. These sorts of numbers are unprecedented. That's probably why so little of these numbers seem to make sense.
Used cars are so high because new cars are unaffordable. Many can no longer get approved for new car loans because of bad credit history lack of disposable income for a loan with the amount required for a new car or the size of down payment required as a percentage of new car prices
Love the info, love the interactions, I'm soaking it up as I gear up for my next purchase. Please keep bringing it!!
From The Big Crapola to The Big Deal by July when seasonal summer gas price spike drains what’s left of people’s cash. Driving my ‘02 proudly till then.
I think the prices at auction ticked up for two reasons. The first is the cars that sold were purchased when interest rates and prices were low 3 years ago so the sales price at auction was lower relative to newer cars and second there aren't many 3 to 4 year old cars in that sweet spot so the cars that are in good condition and have a lower price due to age and better initial fiancee terms are now the ones every dealer is looking for thus bidding up the price.
I loved this episode. You two are hilarious and work really well together! I enjoy and appreciate the education you provide.
I know Ray said he was guessing, so I'm not trying to be overly critical of his opinion, but I do think he's wrong about what cars are selling at auction and which ones are not. I do not believe the cars that are selling are the newer (2018+) vehicles with low miles. They appear to be high mileage cars of various ages, mostly 2017 and older, and lower mileage older cars (2005-2012).
You can watch any of the channels here on UA-cam that post videos of the auctions and make note of the vehicles that are moving. Look at how many sub $15,000 vehicles are selling vs $25,000+ vehicles. The vehicles that are selling easily seem to be sub $10,000, and a lot of negotiating seems to start in the $11,000-$15,000 range. The only newer vehicles that seem to move at all are very specific models, and even then, they aren't often selling right out and are being negotiated after.
Most people are low on cash right now, and interest rates on used vehicles and much more strict loan requirements are putting the hurt on credit only consumers. The good, reliable, low mileage, used vehicles are still priced at $25,000+ right now. With new inventory becoming more plentiful, many of the people who are looking for good vehicles in that $20,000-$35,000 range are much better off buying new, especially as some incentives and under MSRP sales come back. The extremely high used car interest rates are eating up the difference in price compared to new, essentially.
The price increases at auction seem to be fueled by dealers attempting to time the market. Tax season, obviously, is the largest contributing factor, but there are other reasons that I think dealers are trying to buy up as many cheap cars as possible. A lot of people are not paying their new car payments, are canceling their insurance, and are unlikely to catch up. These people will need cheap cars if their new vehicles are repossessed, and many dealers are counting on it. The problem seems to be though, that a lot of dealers overestimated how much people would get back this year. There are already dealers mentioning sales slowing down dramatically this past week. That makes sense because many got their returns back earlier this year. If sales drop off the next few weeks, these dealers will have made the same mistake that they made 8 months ago by buying inventory at inflated prices instead of selling current inventory while they could.
There are other things coming as well that haven't yet reached the market. (1) Businesses are just now having to pay back their EIDL loans. (2) SNAP benefits are going back down in March and will cost low income households hundreds of dollars per month. (3) Many will lose Medicaid coverage in April. (4) Student loan moratorium is ending in August, and 40M+ people will be required to start paying back their student loans again.
Lastly.. the crashes in 1929, 1987, and 2008 all happened in late September through October. I'm not a betting man, but if I was.. I'd bet the market looks entirely different come late summer.
I know this is older but car insurance rates are going up as much as 55% nationwide as well.
I’m in the negotiating process right now to purchase a larger cargo van just off lease. My lease is ending very soon on my van but I need a larger one for my work. The best thing for me to do is buy out my lease and keep my van but since I need a larger one it’s the purchase I need to make. What the dealers are doing is keeping prices relatively the same if not a little more competitive than a year ago but they are willing to do some slick financing numbers to make the deal. As you may have guessed I am Canadian. We lease more than buy in Canada. My deal is also subprime because the banks think I was a naughty boy yet have never missed a payment in any of my loans they just think I’m over leveraged. Banks only have a picture of present conditions and don’t see the immediate future of my business. In conclusion the banks are getting tight, my credit score is not stellar but I believe the bigger van is important for my business and the lease company is taking a risk at a premium interest rate.
The dad jokes 😂😂😂
love to hear about your plans for a consumer-centric road map with real-world buying data. good stuff.
Thanks for another informative video. I get phone calls from the used car dealerships every couple months. I keep telling them I am not interested buying a vehicle in this bloated market.
Not in line w/ your chosen subject ... wonder if a professional detail in and out would improve my trade in value. It's a 2015 Lapis Blue Subaru Outback Limited which black books between $16,500 and $ 18,500. 49,450 miles. I personally keep the interior up routinely and wash exterior by hand as weather permits. One aspect is paint correction esp for miscellaneous light scratches. Locally here in WA State that would cost about 400-500 dollars. Thanks, Chris
Jay Inslee will buy it, and give you an electric bicycle for "free".
@@trumpius_maximus47 Hah! You're probably right!
Ray & Zach!! Great info ... keep up the great informative information ...!!
Hello, I'm a new subscriber, love the info/channel and the fun banter between you all 😊. Keep up the great work, you're helping alot of us become more empowered. 🎉🎉❤
Yeah! Go Zach. Bye Bye send off. I love it.
Make a chart telling when historically each brand do promotions that make buying cheaper so if considering buying we know hT can be known of the odds of an upcoming promo.
IMO - That is a good idea. I want' to know when to start checking for deals. FFYI - with the continued interest rate increases don't know if I will buy this year.
Price bubble probably due to decrease in new car sales=decrease in tradeins= decrease availability to used car dealers=price up. Also used dealers wanting inventory for Tax Refund time.
Zach/Ray,
If now is not the time to buy new since prices are so high, is it okay to be bolder and make lowball OTD offers to see if you can snag a good deal from someone?
@@mikemayers8672 Good Idea. Thanks!
%49 sale rate at auctions was over at the end of December. Wholesale market started declining in summer but the insanity kicked back in 2 months ago. Market went through the roof in January and it's still going up week over week. Inventory levels at auctions are at their lowest levels since the pandemic started.
Just curious…..can you research car values from other countries? Or only the U.S? I enjoy your videos very much..love the father /son banter. ☺️🚗
This is a great commentary 👌
6 steps! 4 steps! 7 min abs! Unless someone does 6 min abs, then ur in trouble.
Love you guys!
......uncomfortable silence.....
No not 6 minutes abs, 7 minutes! What kind of workout is only 6 minutes!?
Good Evening All 🙏: Thank you guys a terrific channel 😀!!! Up here in northern N.J. I resumed my search for a Toyota vehicle. When you GREAT guys predicted that new car dealers would begin rolling back this MARKET AJUSTMENT NONSENSE that is exactly what began happening to a point. WELL THE BAD NEWS IS that it's back to beyond MSRP & ABOVE. These crooked car dealers should go out of business !!!!! 😤 IMHO this is just screwing any prospective buyer !!!!! Love the channel ❤️ & the staff, TMP from N.J.
U r correct about that sequoia. Just bout a 2016 Ford escape titanium w 94,000 $14,500 for my 16 yr old.
Ripoff
Just purchased a 2023 Hyundai Palisade Calligraphy for $500 under MSRP. I weighed in the fact that the loan rate will go up.
Ya where I live a 2000 Ford Ranger 4x4 XLT is $15k but on the east coast its about $9k from what I have seen.
I found out a long time ago while filling out a loan application that I was showing I don't need their money. I haven't had but one new car in my life and it wasn't a good choice. Live and learn. Thanks guys.
What was the new car?
@@trumpius_maximus47 1973 vw Texas Yellow ( the only good part) should have bought a Subaru. They were sort of new then
Watching in Beaver Dam Wi. We’re the hell are all the Tahoes and new Yukons in WI?? Crazy
At Onieda Bingo.
@@trumpius_maximus47 Oneida
@@dandahl5964 Winnebagel?
You guys are great. I prefer you two over regular TV. Ray your checks are red. :)
I follow you almost every single day! Love you guys. Quick question. My daughter purchased 2019 Mercedes C300 with 2 previous owners yesterday with 12,901 miles for around 32,500 with 5 thousand down..72 months. According to my Finance guys in NYC Mercedes include GAP insurance, it’s not sold separate?
Sean, I have never heard of GAP insurance automatically being included, it is a separate item and sold as such. My guess is that the Finance Manager intimated that it was part of the loan without disclosing the cost and how it impacted the payment. All the best, Ray
Some companies do include GAP coverage in leases. I leased a BMW a few years ago which included GAP. MB might be the same.
No lending company includes GAP in the financing contract. As noted in many places, the dealer F&I manager is the most unethical character a car buyer will meet at the dealership. They should never be trusted. Be polite but be skeptical and verify.
Thank you, CarEdge for all you do! ❤❤. Don’t worry about the haters, they have their own issues, apparently!
Question… here’s my dilema I have a 2015 Honda Accord I want to sell/trade it in for a new (or used) Toyota Tacoma. Should I buy now because I’ll get the most value out of my previous car or just wait till we can get deals on new cars ?
Tacoma.....good luck...very short supply
@@steveg6978 yeah for sure. I think most dealerships around me have 1 or 2 of the mid trims. I’m in no rush
Have no Idea, just did a search for a Maverick AWD.......not one at MSRP...all within 250 were dearer mark ups over MSRP. I will not buy at those price period.
Steve from Florida I enjoyed your video thank you for doing it but up here in nw Florida 3 of the 4 large car lots still are very low on both new and used vehicles what are your thoughts on this so probably it keeps the vehicles still very high
Ray-Yay! Zac-Nay!
It strikes me that Carvana is the Wells Fargo of auto dealers .. i.e., they screw up a LOT .. and who knows how much of it is by design.
You can still find some good deals at your local impound yard auctions
Any idea what a good price is for a 2022 Jeep Grand Cherokee 4xE Limited model? Dealerships are refusing to budge off MSRP (and then $2000 manufacturer discount), yet it's 2023 and the car is a year old and every dealership has 6+ sitting on their lot. Reached out to 4 dealerships and the story is the same. Any help? Edmunds says $57,000 yet everyone else is saying MSRP "of $63k
I am having a hard time finding Automatic transmission. Most cars are coming out with CVT.
Why is Honda HRV less than a Honda Accord? Are HRVs harder to sell, not as good a car? Do not retain the resale value as an Accord? Please give your opinion. Thanks.
Guys, don't you remember you saying the lack of inventory over the last year or 2 will drive car prices up? It wasn't that long ago. Couple that with inflation, and you will see car prices staying high.
If the FED continues to raise interest rates, and causes a deep recession or depression then yes car prices will drop. If that happens, we probably won't care about how much a car is.
Funny how 300,000 mile Toyota gets pooped on. But in my experience driving 40k a year, they have the very lowest operating cost of any vehicle. Cost per mile less than $0.25
Hi Ray and Zach. Maybe some time you can talk about average miles/life you can get by looking at different manufacturers. Is that a useful benchmark?
Great show guys
Subaru Outback 2020+ limited. Seems like new is only 2-4K more than used.
Is there no way to copy/ paste vin? Or is it on 2 different devices?
I have an excellent 2010 GT Sport 4.7 with 30k miles what is the most I could get
Thanks!
Thank you for being a part of our community, Gina!
What about the sales on the Dodge Rams?
Still waiting for Dodge Ram month to gone back .
Will buy a car for my son after tax season, in the summer when used car prices take a dump.
Will they take a dump in the summer 🤔
They are not going to take a dump.
@@rotart12arx3 Thats what I thought 😤 Seeing is believing
You hit the nail on the head! It is nearly impossible to find a decent (no accidents, under 125k OD, decently priced) used 4WD truck now. A week ago, there were fleets out there, just as you predicted, and now they are gone. Those all had snow plows on them (bleh), but might have worked.
I'm gonna keep checking and will wait it out.
Thanks!
Cash deal at $7k max on the sequoia
I'm looking to get a used BMW 760i between 2020-2022
I wouldn't buy anything 2020 and newer anyway.
NO MMR values available on ur site ?
This is a Re- Play...... so you cannot leave any questions in the live chat ......sorry guys
carmax have cars 6k over MSRP or car value a 2013 chevy spark is going for 12 to 13k bogus
Carmax does not sell new vehicles. Hence Carmax has not sell vehicles with and MSRP.
if the middle of summer is accurate, perhaps some will attempt huge 4th of July sales if that's the case. Hmmm
Oh please, one colleague I work with told me that they got $24k back when they filed their taxes.
Actually they do not get $24,000 back, if true. What they got was the excessive amount they had withheld from income for taxes during the year.
@@scottr2706 four kids, two adults. He said she got 17k and he got the rest.
I change my oil on the 5 and 0 tyranny at multiple of 30k.
I been looking for a ram
I wonder how many defaults are the result of buying inherently flawed vehicles with additional issues that the stealership know about but failed to disclose.
Nice video. tho gotta challenge what you said Zach at 06:21 stating that it's not Carvana themself, but rather it's the lending landscape. With all due respect that is categorically incorrect. You are indeed aware that Carvana operates 10x more fraudulently than the rest of the car industry right? There's a class action lawsuit against them, plus Illinois and Michigan have revoked Caravan's license for taking peoples' money but never delivering the cars, which Carvana did in other states as well. Carvana has been indicted by state prosecutors in multiple states.
Check out UA-camr Aubrey Janik's video "A Deep Dive Into This Massive Carvana Scam" as well as her 4 update videos on Caravan's continual wrong doings. She show how father and son who formed the corporation, structured things in order to skim money off the top (straight to them personally), before the revenue even gets into the corporate books and to the shareholders.
to the shareholders.
Since Jan 1 your guy from “your car questions answered”, has been showing nice but overpriced cars from the dealers going through the auction unsold.
Exactly. It's the sub $15,000 vehicles that are selling, and specifically the cheaper $5,000-$9,000 vehicles. If people can't afford a new car at $40,000 to $50,000, then they most certainly can't afford a $30,000 used vehicle with current rates and loan requirements.
Shelly, you've been warned!!! 🤣
Auction sale rates are in the upper 50s.
With you!👍👍😎🇺🇸
I cannot believe a dealership would sell a car for 51,000 that has 308,000-miles the dealership must be total idiots because no bank is going to finance a vehicle with 308,000-miles for 51 grand and no one can come up with that much cash because there is going to be a whole host of repairs that will need to be done ✔️ to the vehicle. I can’t believe that dealership is that big of a idiot. They need to drop the price of that vehicle because it isn’t going to sell for that much money with that many miles on it. Dude it is a high mileage vehicle. 🙂
Wasn't the 21 and 22 tax sessions worse than 23?
9k is all I would pay for a BMW
Zach, until you start seriously tracking unemployment, you will never understand the car market. Surprise - unemployment is at historic lows. Also, high auto costs are being mitigated by rising wages and extended loan terms. At 13% used car loan rates, there is plenty of capacity for defaults. It is a Cinderella story.
Wages are not rising commensurate with the price of vehicles. Extended loan terms do not mitigate auto costs, they actually make vehicles cost more overall. Employment may be high but most of those jobs are not high paying and they do not enhance the car buying power for those people working low paying jobs.
Mmmmm. Sure sounds like 2008 all over again.
Still just conjectures and that too wild ones. Maybe the pressure to post videos everyday leads to repetition. There is just a trickle down in prices not inline with your repeated predictions of crash or bubble burst...
One day we’ll be right!
A clock that stops working is also right once a day. Your comment, too, refers to lack of any intelligible prediction if you keep on shifting the time horizon.
Looking for a lexus
No one can afford new cars....Dealers have no choice but to get nice used cars otherwise they will go away. Hell where I live most of the car dealers are now owned by one company...
15 million are predicted to be sold in 2023. People will and still buy new cars.
Many, many people actually can afford new cars. I see new cars in my neighborhood every day. Three of my neighbors just this week bought new cars, a Jeep and a Honda, and BMW.
@@scottr2706 just cause you see they new car didn't mean they can afford it, they could lose it very soon too
Have you dudes read the BIG warranty you are pushing with Car Edge??? Specifically, Section 8....lol, they could put in one paragraph what they DO cover. Wow, you don't get much for 3K!!! Come on guys....
Honda CR V 2022
Manheim up, CPI down - this means retailers get squeezed. Hmmmm puts?
Who's a hater here ? We all know it can be only our nemesis a formidable and usually victorious rival or opponent
They are counting on tax returns. Once that doesn't happen. We will be good!
Let’s see here…the rich get richer AND bailed out? The automakers will get a government bailout and the dealers are just have to wait a little for the money to trickle down as rebate, incentives and price discounts. 🙄
Not listening without time stamps
For me, your Dad is one octave away from sounding like Henry Winkler 😅
Ford ranger
I have a 2008 Prius with 204,000 miles. What do you think I could get for it?
No way is that an act Ray, I’m sure you get that worked up thats your personality. That’s ok though.
Can you please do a show on what Electric vehicle adoption rates mean for the internal combustion engine market .Tesla has pricing power and California just announced $9,000 and $15,000 state rebates for electric vehicles add that to the federal rebate s and why would anyone in their right mind buy an internal combustion engine vehicle 😮
4runnner
Ray always interrupts Zack.... irritating.
I like it.
Why does it take over an hour to state your information. Unless your viewer is a social outcasts your average viewer won’t invest more than 30 minutes for your type of content. Stop repeating yourself and the extraneous info. The more precise your content the more viewers you’ll gain.
Hi bwise, Saturday nights are for our streams. M-f are much shorter videos. Thanks for the feedback.
We need more Right wing political views on this channel.
You can always run it 1.5 times 😂
You should let the JRE and the LMG know they have a broken model for their podcasts.
No one is forcing you to watch
Does Zach have a channel on his own. Can't deal with Ray anymore
You have got to be kidding. Hack is the worst!
Why are these videos so long?!