I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@Elliot-Ivan The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Before you buy, check with your insurance provider about your new rates. People are finding out their rates increase sometimes by hundreds of dollars per month. Now they can't afford the coverage. DON'T SIGN THE BOTTOM LINE UNTIL YOU KNOW THE TOTAL COST. Monthly car payment and insurance payment.
Used car prices haven't made sense for several years now. You see one a couple of years old with 20-30k miles and it's only 1-2k lower than a brand new one exactly like it.
In 2004 I bought a brand-new Acura RSX right off the showroom floor. I literally drove it out of the showroom with 8 miles on the odometer. I still have that car. It has 109,000 miles on it. It doesn't have all the "bells and whistles" that today's cars have, but it still serves me well. I drove it to work every day from 2004 to 2016 when I retired. It's still my only vehicle, although I don't need it to go to work every day anymore. Had a major maintenance check done on it a few years ago. and I see no reason to go into debt for any new "bells and whistles." By the way, registration and property tax on it last year was only $65. . .
@@siry5164 Hi there. . .Just saw your comment. I live in Wichita, Kansas. Are you in Kansas? I live in Sedgwick County and that's what they billed me for this year's registration and property tax. I haven't paid over $100 for a number of years now. Sometimes I wish I had the money to move to California, although these days maybe not. I'd actually like to move to Arizona, either Tucson or Phoenix. But friends I have there say I better be ready for the heat and a much higher cost of living. So, I'm still in Wichita, but at least my car reg. and prop. tax is low!
A vehicle is only a "necessity" in order to get from A to B and back. For most, they are an emotional buy or even a "lifestyle". With just under 5,500mi/yr on that RSX since new, you're either a recluse or extremely budgeted.
@BluesImprov exactly. Good for you. Besides, another thing that ppl don't take into consideration is all the technology that's now loaded onto these vehicles. My background is IT and I say "Hell NO!". Having to pay on depend on a connection. Big Pappa always tracking you. No thanks. I have the bare essentials & I couldn't be happier. 60mpg hybrid 2015. Love it!
I recently visited a Nissan dealer, and they had a new 23 Rogue on the lot with a 32K sticker price. 30 feet away was a used 23 Rogue with 14K miles. The sticker price was 30K. It's as if dealers don't want to sell used cars right now.
They’re just using the same model that offered them great profits a couple years ago. Until they are forced to do so they will not change. My hunch is that a wave of discounts is coming across almost all vehicles.
1:45 - THIS is one MAJOR reason why the vast majority of Americans don’t have $1000 in their bank. I make $180k and have NEVER spent more than $25k on a vehicle.
Went this week to get a Kia Telluride and the dealer gave a 3% discount off MSRP but added over $3k in BS dealer add-ons that were ‘non-negotiable’. We ended up walking.
@@jenamosqueda6924 that must be nice. We got an excellent rate from Kia but the dealer wouldn’t budge on the add ons and it’s too common here in Phoenix. Per Car Edge the car has been on the lot for 40 days, well it can sit longer for all I care.
@@Ascension_3030 so far I really like it. It’s barely been a week though. We were going to buy used but the prices and miles didn’t make much sense. If you can get a great deal on used then maybe. I did find a used one with just 9k miles but it sold the day we decided to buy it. It sat for 45 days on the lot 🤣 My luck it sold the day we made our choice. In the end we went new. I wanted the Kia warranty and I wanted white. Good luck!
Dropped my '21 Ram 3500 at dealer for a transmission recall. I am friends with the sales manager and used car manager. Their lot is chock full of Jeeps/the fancy grand Cherokee, pickups and others. Guys said business was upside down, their Floorplan was over 90K a month. They are having a harder time getting good used cars to sell. I saw lots of '23 discount stickers at the lot. A '24 Rubicon in the showroom was over 76K . Amazing
What depreciation curve? Those days are long gone. It's more like a straight line these days. I never thought I would say this, but it mathematically makes more sense to buy brand new if you plan on keeping it for at least 7-years.
@@user-gq2vn1xj2r Just found this channel today, might have the answer on another video. Why did that axiom end in 2020? Is it because there are fewer cars produced during the chip shortage years?
I was browsing CarMax just today. Even with the cars with low miles the savings is significant. Every vehicle purchase (about once a decade or so) we entertain the idea of buying new. But then we start shopping. We just started shipping again this week. New just doesn't make sense unless you are wealthy enough to shrug off that premium you are paying. I am not wealthy enough. ;)
My 2017 acura ilx A-spec was hit by a drunk driver when it was parked and totaled the Sunday before thanksgiving last year. Bought it at 11k miles and it was totaled at 28k miles. Had 3 more years to pay it off. I wouldve waited to get a car around this time but was in desperate need. Ended up getting a 2021 acura TLX base model at 28k miles for i think 27k OTD plus GAP and extended warranty in December last year. It was the only great offer for that time but after 2 weeks of driving it, i went to CarEdge again and saw dealers selling the same car with technology package and less mileage for the same price and even at times less than what i paid. Its crazy how fast the dealers act and things change. No regrets, i didnt have a choice since i needed a car.
Ive been seeing a ton of Acura's listed really affordablely in my area. 2020 Mdx's for less than rav4's of the same year with half the miles on the acura
@@delbomb3131 must be nice. The TLX is starting to go down in price becuz sales did horrible like most cars with inflated prices. I will definitely get an MDX next time, but i pray that nothing happens to my TLX. I really dont want to have a car payment for once and have all that extra cash in my pocket.
@@allendelacruz7970 yeah i have an 08 rav4 that's taking a dump on me, there's 2 2020 MDX's in my area for 20k, both with under 50k miles on em, neither with an accident, both single owner. Getting really difficult to resist. All the rav4's i see in that range are like 18's with 120k miles. My rav4 has a v6 and i really don't wanna go down to a 4.
It always amazes me how people will spend more money to buy a used vehicle thinking they got a great deal then they could’ve paid for a brand new one anyway!!! It’s right there anyway just walk across the parking lot to the other building and look before you buy the used. People are stupid!!!!!
Just visited the Honda dealership in central earlier this week. Happened to look at a new vehicle in the showroom and was surprised to see a market adjustment of 9999.95 . This is completely absurd.
I have an older Mazda 3 that is my work car. It’s flawless with hardly any problems and easy to work on. Will keep it until the engine falls out. These new car prices are insane.
Mazda revamped their engines and transmissions in 2016 I believe with their "sky-active" stuff. They also partner with Toyota in one of their manufacturing facilities. One of the most reliable cars now, just don't get a turbo since that is a new thing they are trying out
My wife's 2014 Cmax Energi was losing battery. Carmax gave us $5400 for it. Found CPO Lexus ES 300h, Luxury trim, with 28,000 miles for $34,300. Happy with that. My 2014 Camry hybrid still going strong with 230,000 miles.
For the SUV buyer the Mazda CX5 is the way to go.. Been out forever with a proven reliable drivetrain, built in Japan & has 0% financing for 36 months…
I will never buy another Mazda SUV. Mine leaked water from a poorly designed sunroof drain system costing me over $1K to repair. Eventually it began to leak again, so I traded it for a Honda.
My wife and I both drive 2019 Mazdas and they have been awesome vehicles for the first 50k miles we have owned them. Staying on regular maintenance and we plan on keeping them for a long time.
50 years in the used car biz. Go to 4+ auctions a week. Late model Toyotas have not come down at all. Supply of Rav4, 4Runner, Corolla is non exisitant. Stellantis stuff is cheap but saleproof. The Blue Oval quality problems have made Escape,Edge, Ecosport impossible to sell. The best value is a new Toyota at or neer MSRP.
I’m either going to get a RAV4 trd off road or a 4Runner off road premium. Just depends on if I can haggle a decent price on the 4Runner. As I’d prefer the V6
I want you guys to know that your videos saved me a ton. I really enjoyed and continue to enjoy the amount of valuable information and knowledge that you guys have. I was able to get 2 cars for a deal and more importantly know that I did get a good deal. Keep it up gentlemen!
Just purchased a 2024 telluride s at msrp. I'm content with the price at 38k, added a warranty for 2k, 40k out the door which seems pretty better compared to other regional best prices (was priced 42k before additions at other dealerships)
We just purchased a white 2024 Honda Civic Sport Touring for 33k out the door with nano ceramic thrown in instead of regular tint....paid cash too! Your videos definitely helped the process a ton.
Please pick 6 models with the best (most) inventory for your next segment. Nice to know what manufacturers are flush with inventory, but exact models would add to our knowledge.
To add to your Used car comments. In 2016 I was in the market for a VW Touareg, specifically the TDI. As it was the last time you could purchase. Dealers were asking over 60k . I purchased the 2017 Wolfsburg gas and extremely happy. But just came across a 2016 Touareg TDI LUX, 70k miles on it asking $17,000 ! Not bad.
I almost always buy used. A year ago got a 2021 Titan very well loaded for probably close to 30% off new and it is CPO. It was 2 years old and had 4,000 miles on it. Yup, I'll take that any day!!!!
Great video, I have a quick question. I am an aspiring trader, I am looking study some traders and earn off their expertise rather than investing myself and lose money emotionally. Whats your take on copy trading? Do people really make money? Just looking for some reassurance. Thank you!
Focus on long term investments in property, stocks, and bonds. Avoid copying, daytrading and 'chart astrology'. Diversify across different geographies, industries, and value chain stages - to reduce your risk. You can do this with ETFs, or by selecting different stocks yourself. This is the best way to invest for more than 90% of people
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
It is essential for you to have a mentor to keep you accountable 1. Limit your spending/cut off retail therapy 2.Put the extra cash towards investing in high yielding or steady investment.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
ANGELA LYNN SCHILLING' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I am beginning to see a trend of all sales people trying to convince buyers that outrageously priced ,poorly made vehicles are a great thing to jump into for the next ,,,,years of your life. Dealers and agents here are trying the same old tired wore out ,we are family, we are here for you, you won’t believe the deals we have. etc,etc,. When I see a new purchase going down the road I count my blessings it’s not our signature on that long term contract. If the warranty runs out before the payment book,run,don’t walk.
What do you mean "poorly made"? Compared to what? How do you define "poorly made"? You just "know this" or you have actual data. What does that even mean? Who defines "poorly"? You?
Best to keep your current car as long as you can. Keeping my 12' Altima a lot longer. I change the transmission fluid every 2 years so hopefully that will keep it going.
I have a 2013 Altima with 61k miles. You are absolutely right on changing that tranny fluid religiously. Carvana offered me $5400 for it but I'm not selling. It runs fine but there is always thar worry about that cvt tranny. Peace.
@@peterferk1376 Very important to change that coolant on time because your transmission cooler is located inside the radiator. I have mine changed at the dealership between 3 and 4 years. Original Nissan coolant I use.
This was a great video guys. You put together some fantastic content. I happened across one of your other videos last week, and have been, working through, some of your other videos since. I have been really impressed with everything I have seen so far. 👏🏽👏🏽👏🏽
Buying a car this summer, glad the market’s stabilizing. Dealers won’t negotiate until cars hit the lot, but they started the haggle game with their markups. Haven’t bought a car in a while, but the process feels more adversarial than it should. Dealers, stop making it tough for buyers! Thanks to CarEdge, I’m avoiding overpaying.
biggest thing to remember is you are the boss at the dealership.. before you go to a dealership know you numbers.. how much do you want to PAY, NOT how much can you afford monthly. that is the first trick they try.. bottom line is have a OTD price,, Out The Door ,, number you think is fair based on available info and market norms. (out the door is tax, tag, title, and any dealer fee or other junk fee they come up this) when you give your first number make it $500 below your actual number.. cause they are going to balk big time.. and maybe lie telling you they can not absorb the tax and tag fee.. BS.. they will come back with a number closer to the original price and you say ok give your number now with the $500 added on.. if they balk get UP AND WALK THE FU$K out.. if they came back just keep walking.. the only number you care about is the number on the bottom of the page that matches your OTD price. .. nothing else matters. good luck. stay strong.
My Wife and I have been putting off buying a New 3/4 Ton Pick Up Truck since 2020. Our plan was to buy a New F250 during the Fall of 2020. Well, that did not work out and we laughed our butts off at paying over MSRP. Over the past month or so, going to a bunch of Ford dealers in New England, we start at 5K below MSRP. They are biting, BUT. We are pushing to get at least 7K below MSRP. I am Old, done this before over the decades. We will make this work, maybe this Summer, Maybe this Fall.
just bought 2024 Kia Carnival EX for 9% off MSRP + 5.5% APR 60 mo Kia Motors Financing. We did a tug of war over the trade in value but got a decent trade in value too on a crappy Dodge Caravan. Overall very happy with the minivan, payment and the process. The fowler dealership was also eager to move their cars before the hail season hits here in Colorado, so that was helpful too.
@11:38 - “average APR on a new car loan is a little over 9%” - have to shop around. Plenty of dealer in-house financing below 5% for qualified buyers. Mazda is one example.
I bought a brand new Q50 Infiniti for 6k off MSRP. No junk fees out the door with tax for 42800. I'd like to say it was my brilliant negotiating skills but I made what I thought was a low-ball first offer and they took it.
My Subaru dealership never raised the price over sticker during the Covid era. My Honda dealership has a side sticker of $7K for junk they added. Goodbye to those dealerships which piled-on side-stickers prices. I will go with Subaru. I do have a KIA dealership not so far away, but they cannot match Subaru in safety, and the reliability I have doubts on. Looks like many recalls on those I was considering at KIA. Ouch! Some good styling. The warranty sounds good. Not having to use the warranty however is priceless.
@@camillemoore9737 I have not bought a car yet. Will do cash. For now, I am keeping my car. After driving an Outback, I am thinking it might not be for me. The cars is solid and quiet enough, but filled with gadgets. Sure I can turn off most, but I am not liking all the nanny tech. The tug on the steering wheel, having to turn off the auto-stop/start every time. The seats are good, but the back cushion I prefer on the car I have. Also realize the advantage of sitting high, just might not be my cup o' tea, as I like the old style more down to road level. I think my Fusion, with a 2.5 lt engine gets a little better MPG too than an Outback -- don't really need AWD all that much on the coast of Calif. I might look at KIA, as they are local, and see what the Seltos ride is like. The turbo is quick. At times I want my Accord V6 back. Loved how a V6 or V8 just drives without having to be maxed out on the gas peddle. And when mashed, the Honda V6 made wonderful engine sounds. Today we have four cylinders and mostly tall boxy SUV. The world has gone to....
I started buying cars in the early '80s, a time when Honda dealers brashly added market adjustments and add-on crap. I wouldn't have any of that nonsense. It took me nearly 20 years to get to the point where I'd walk into a Honda dealership again. Bought a 2004 Odyssey (for a good price) which we still have and love! Our last purchase was a 2015 Forester using Costco's Auto Program. Couldn't have been easier and other Subaru dealers wouldn't even consider the price that I was given...
Im actually working a second job just to get a car brand new just to run it as far as she’ll go and just to save more in general. Six days a week 3 full time days in dialysis and 3 as part time, keeps me busy
Pay cash for a vehicle you can afford. Since lockdown and working from home I’ve been making car payments to myself. Just paid $17000 cash for a 2018 RAV4. I’ll continue to do so at a lower rate since I will have this one for at least 10 years.
Somehow, our local carmax messed up or finally figured out they gotta lower prices. We just picked up a 3 year old fully loaded rubicon 4 door, 30k miles, you can tell it was cared for, no undercarriage damage from offroad use. Sold it to us for 1500 under the LOWEST Blue Book value for Good condition. I've never seen them sell for less than max blue book in Very Good Condition. Best otd offers from local dealer was... 70k. In fact, used models at local dodge dealers, with no options, ie sound, towing, and lack of leather seats, same mileage and appx year going for 2k more or worse.
I just leased a new mazda3 4500 off msrp with a 0.9 money factor. I made this move because right now my interest rate at a 755 score was 9.9 (best i could get). Based off my projection with interest rates dropping off due to unsustainability (as well as a very attractive buy out), im pretty optimistic about the future of this deal. Youre bang on with Mazda. The value theyre offering at the current time is fantastic.
A week ago I bought a 2023 Hyundai Sonata Limited Hybrid (top of the line trim model) with 5,000 miles. It cost me $29,777 on 7.4% interest. I'm sorta regretting it now.....I could've gotten a 24" Hyundai Elantra Limited Hybrid for identical price....BUT I could've saved $2,500 on an interest rate on a brand new car....special interest rate of 4.9%.
You guys are amazing. I’ve been researching and looking for a good used car for my teenager. It gives me a lot of anxiety. Currently looking at a 2009 Toyota Camry with 118,000 miles on it. List price is $7200. I want to go into the dealer with as much information and knowledge as possible to get the best deal possible.
First, people hate the dealer buying process, no one likes to go in and haggle over a price, or watch a dealer try to add as many hidden fees as possible. Second, brands have raised their prices way way to high. So you got a bad buying process and bad prices, which equals no one wants to buy anything.
There are thousands of dealers out there that are fair and do not charge bogus fees or addendums. It only takes a small amount of research to find them. And if you don't like haggling, don't engage in haggling. Haggling only occurs when the customer throws out a low-ball offer. If you don't do that, you should have a pleasant experience.
I bought my first new van, a Ford Econoline, 150 in 1977, when they first released the 1978 models.. six cylinder, three speed manual on the column, a box, with two seats, no power windows, no air-conditioning, no cruise control. I only needed a van for getting my racebike’s to the racetrack, and a vehicle that I could sleep in at the track overnight… It was perfect for that although I swore I would never buy another vehicle without air-conditioning again.. I had that truck for 31 years. When I sold it to a Buyer that only needed the engine., It drove away.. I did spray it with 50 weight new not used motor oil underneath to prevent or slow down rushed here in Pennsylvania where they salt roads in the winter.. I had a job where I could use public transportation to, and from work, and I commuted by motorcycle in the warmer months of the year for about eight months of the year. So it did shit a lot and we would use my wife’s car mostly, because I stored all of the dirt, bikes and equipment and gasoline in the van most of the time. I do keep vehicles for a long, long time. My wife’s last car was nine years old when we sold it, my current ram, 1500 Big Horn, 4 x 4, with the hemi, is a 17, which I spent five days rustproofing with fluid film. so far so good, my truck only has something like 16,000 miles on it, because we use my wife’s car for all the running around, and we are both retired now, and I don’t lend my truck out.. we will see how many years I have this truck. It has been perfect so far, the only thing I have had to do it besides oil and filters, is, put air in the tires when the weather gets cold and replace the windshield wiper blades. I have the annual rust proofing inspection videos on my UA-cam channel of my truck to show how well it is holding up here in salty Pennsylvania. One thing I do like about the new vehicles is the fact that they come with stainless exhaust systems. I did have to replace exhaust pipes and mufflers on my 1978 Ford van it seemed like every four or five years they would need replaced..
Curious about those 0% APR vehicles. I’ve seen certain models. Currently negotiating QX80 being that the new one is coming out soon and body style will totally change. They’re dropping off price significantly and offering 0.9 for 60 months. I’m watching their inventory, still sitting at 11 on the lot for a little while now. Waiting to the end of this month to hit them up again.
I’m using the years 2012-2019 as my baseline for “normal” discount off MSRP. During that decade, pre pandemic, you could buy a mid trim level F150 late in the year for 20% off MSRP. Sticker was approx 50k and you could easily buy one for 40k. I don’t think we should even consider getting excited when we see a 10% discount off MSRP.
I’m looking to buy a Toyota tundra, how much can I negotiate off the MSRP? I honestly didn’t even know you could pay less than the advertised MSRP. I have never negotiated a car before, I own a Tesla which doesn’t negotiate
We got an extremely good deal in my opinion on a New 2024 Telluride. Car stickered at 46 we end up paying 39 for the car and 42 something after tax and dealer fees.
I have a 2021 Lexus ES300h lease coming up in a month. Residual is $22k to buy this with the Bluebook somewhere in the $29-30k in the condition I have kept it. The right move is to buy it and sell it correct?
Hey Caredge! I trust you guys wholeheartedly. My fiance and I are looking to purchase a used 3-row SUV with under 40,000 miles. We are looking at 2021 Toyota Highlander LE, 2021 Mazda cx-9 Touring, and 2021 Subaru Ascent premium. Looking to spend less than $30,000. I have options available for both. (I only search single owner, no accident, personal use only vehicles.) all three are priced as follows Highlander - $29,000 - 30k miles Cx-9 - $26,500 - 22k miles Ascent - $26,500 - 33k miles Could you PLEASE give me your best option? I am leaning towards the Highlander because of the long-term reliability. We plan to hold this vehicle for the next 6-10years. Thanks in advance for your help. I really appreciate it. As always, thank you for the great content.
Doesn't work when you drive into the Local Dealership, some have cut back on ordering inventory on purpose, yes to hold prices up! Lithia Motor Group is doing this and many many others. Remember Lithia is the second largest in the US.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience.
Hey there, your videos are absolutely fantastic and very helpful. I just went to car edge and was signing up, I noticed your subscription fee is $999, is this actually correct?
Just stumbled across you guys and genuinely appreciate the content and insights. Extremely valuable consumer information IMO. This may be a difficult question for you to answer but do you know if the canadian market generally mirrors that of the US? I am not aware of anything or anyone providing the insights that you do with a Canadian Market view…
Just bought Subaru Forester Wilderness 3G under MSRP and 2.9% APR wanted Rav4 TRD or Aventure but none in NJ but Subaru came with more features and only small increase in insurance. Also because of you learned about tied selling can't thank you enough❤
I just helped my sister buy a car, a 2024 Kia Forte GT Line. MSRP with destination was 26,515. We talked the price down to just under 24,000. Did we get a good deal? Thanks to your videos I hit them with the "out the door price" line. They did not want to give me the number.
Ex Salesman here, in Australia so AU dollars. My last 2 cars I bought (privately) 6 months to a year old, you avoid the large depreciation upon purchasing new, also pick a vehicle that is generally sought after. Happy Days. Holden Statesman =- New RRP $54,000, bought for $32,000 1 year old. Hyundai Santa Fe Highlander $64,000 new got for $48,000 6 months old. Still have it, owe 8k on it and its market value private is currently $32,000.
must be a different market because in US 6 month old cars dont depreciate at that rate. Typically difference is so small that purchasing a brand new car with much lower APR, costs less than buying a 6-12 month old used version. If youre paying cash, its a different ball game - but if you have 50k to plop out for a new car, then youre likely wanting a brand new vehicle as well
I ended up buying a 2024 Hyundai Kona SEL and feel that I got a good deal compared to a 2019 Toyota Rav4 with 80k miles I paid about 1800 less for the brand new Kona VS the 5 year old Rav4
I got a 2020 Toyota Rav for sitting on the lot for 65 days I believe. I'll have to go and check using your Website, I got an incredible deal for it. The car salesman was absolutely shocked as I mentioned I wanted to test drive this car and told me well we must of missed this car its been out so long. It drives great and it runs really well. Got a solid deal off of it.
My car is looking to cost 47k after taxes and everything. But I’m planning to get a car brand that’s super reliable so I’m planning to keep it till it croaks
Had the Choice 8 months ago NEW Cash $68,000 Chevy [NOT] Got a 23yr ago USED Truck for nearly Nothing $$$ and Renewed it [ added a IPad holder and Rear view camera system] Cost $5000 Bucks.
One of the local dealers in Peoria, AZ the Nissan dealer is knocking off -$5000 on MSRP for the 2024 Rogue SL. No one wants to buy a vehicle with a 1.5L turbo and CVT transmission.
Yep. I'm dealing with this crap right now. Trying to trade my 2020 Tesla 3 in because I need a van and it is absolutely ridiculous the drop in value. I am so pissed right now.
If you have an older but well running and good (body) condition pre-2012, etc. vehicle, Id suggest that you repower it with a precision 'remanufactured' engine. Benefits: little to no klunky electronics gizmos that dont last, honest fuel economy, high tension piston rings that dont get stuck and destroy cylinder walls ... typically at 80-90k miles, less insurance costs, .... and best of all - NO dealer hassles and traditional 'scalping' by a dealer.
I just went in Hyundai for a used ioniq 5 SE for $29,999 with only 10k miles on it, and the OTD was $38k. They took out the package (4k), so it went down to $34k. Seems good, but they didn't have an invoice due to it being the owner of the lot's car (they should still have some invoice, but I guess not?).The car value was $22k. If i had signed that deal, I would be in $12k+ in negative equity. I told them we can start near the value price so i said $23k, or im not doing the deal. I didnt even get to the california ev rebate ($7,500) lol. They didnt like me at all!
needed a car and i drove a beater we bought new in 04, so i got 20 years out of it i can't complain, but when i was looking at a used car from the past 5 years or so, alot of em were just as much as a new car after the interest! if not just shy of a new car. so I bought a new subaru forester, 2.9% interest isn't terrible and it wasn't over msrp. and my monthly payment is pretty low since i put 10k down. hopin to drive it for another 20 if im lucky! i will say subaru really didn't put anything on my bill i could negotiate out it was pretty much just car, tax/title.reg, and that's it. kind of refreshing after running around toyotas, hondas, and mitsubishi.
Gave up trying to buy the new Corvette. By the time the prices came back down to sticker, the interest rate is prohibitive, even with 50% down. Instead, I'll spend the 30/40k to completely redo my 80s one. Without all the electronic crap that I don't need and costs a fortune to fix. Same with my 06 Mustang and F250.
I myself think new is the way to go with vehicles. With used prices maybe half of new, your letting the original owner get the warranty and hopefully trouble free miles and you get what is left. I say buy new, do the maintenance and keep it till it won't run.
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I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@Elliot-Ivan That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@imohimoh3441 My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
@@Elliot-Ivan The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Before you buy, check with your insurance provider about your new rates. People are finding out their rates increase sometimes by hundreds of dollars per month. Now they can't afford the coverage. DON'T SIGN THE BOTTOM LINE UNTIL YOU KNOW THE TOTAL COST. Monthly car payment and insurance payment.
So true learned that at car egde too. Rav4 adventure would have increased my ins by $110 Forester Wilderness $40
@@nomad-Nurse-Dani2073 some of this is common sense, don't understand why people do not know these things and have today someone to tell them.
@@JohnDoe-wy2py Hay you seem to know everything. 🎉Can you tell me what will bring insurance down for everyone? 😃
@@texaslovelylady if I knew the answer to that I could retire rich today, but *hey* what would I do then?
@@JohnDoe-wy2py👈just so smart! ah
Used car prices haven't made sense for several years now. You see one a couple of years old with 20-30k miles and it's only 1-2k lower than a brand new one exactly like it.
Unless a new model. Refresh
In a lot of cases it's better to buy new.
I bought in 2014 was my last buy. Bought one year used and it wasn’t much different. Just a couple thousand under new model.
I was just out Honda shopping and that exact thing was the case. I leased and wish I would’ve spent more time looking around
It doesn't make sense to us, bcuz It's called G R E E D!
The comments under your videos are just as gold as the videos because I love hearing peoples real life stories!
In 2004 I bought a brand-new Acura RSX right off the showroom floor. I literally drove it out of the showroom with 8 miles on the odometer. I still have that car. It has 109,000 miles on it. It doesn't have all the "bells and whistles" that today's cars have, but it still serves me well. I drove it to work every day from 2004 to 2016 when I retired. It's still my only vehicle, although I don't need it to go to work every day anymore. Had a major maintenance check done on it a few years ago. and I see no reason to go into debt for any new "bells and whistles." By the way, registration and property tax on it last year was only $65. . .
So why is it my registration was 110- this year for a used 02 ford focus, something doesn’t make sense here. Are you in California ?!🙏🏼
@@siry5164 Hi there. . .Just saw your comment. I live in Wichita, Kansas. Are you in Kansas? I live in Sedgwick County and that's what they billed me for this year's registration and property tax. I haven't paid over $100 for a number of years now. Sometimes I wish I had the money to move to California, although these days maybe not. I'd actually like to move to Arizona, either Tucson or Phoenix. But friends I have there say I better be ready for the heat and a much higher cost of living. So, I'm still in Wichita, but at least my car reg. and prop. tax is low!
A vehicle is only a "necessity" in order to get from A to B and back. For most, they are an emotional buy or even a "lifestyle". With just under 5,500mi/yr on that RSX since new, you're either a recluse or extremely budgeted.
@BluesImprov exactly. Good for you. Besides, another thing that ppl don't take into consideration is all the technology that's now loaded onto these vehicles. My background is IT and I say "Hell NO!". Having to pay on depend on a connection. Big Pappa always tracking you. No thanks. I have the bare essentials & I couldn't be happier. 60mpg hybrid 2015. Love it!
Whats the day supply on a CTS5
I recently visited a Nissan dealer, and they had a new 23 Rogue on the lot with a 32K sticker price. 30 feet away was a used 23 Rogue with 14K miles. The sticker price was 30K.
It's as if dealers don't want to sell used cars right now.
Unless a new engine or redesign, refresh
Same thing with the minivan, used isn’t far off from new
Were they the same trim? SV vs Platinum is a huge difference
@@lcamacho3845 Same trim. Same paint color.
They’re just using the same model that offered them great profits a couple years ago. Until they are forced to do so they will not change. My hunch is that a wave of discounts is coming across almost all vehicles.
1:45 - THIS is one MAJOR reason why the vast majority of Americans don’t have $1000 in their bank. I make $180k and have NEVER spent more than $25k on a vehicle.
Exactly! Everyone thinks they deserve the latest brand new model
Good way to go broke is buy new cars.
I drive a small car, has great mileage and a small gas tank. It's crazy what one can save by getting a lower priced vehicle.
Went this week to get a Kia Telluride and the dealer gave a 3% discount off MSRP but added over $3k in BS dealer add-ons that were ‘non-negotiable’. We ended up walking.
We just bought a Telluride. We were able to get 2,770 off MSRP and zero bs fees. 5.9 % through Kia Finance.
@@jenamosqueda6924 that must be nice. We got an excellent rate from Kia but the dealer wouldn’t budge on the add ons and it’s too common here in Phoenix. Per Car Edge the car has been on the lot for 40 days, well it can sit longer for all I care.
Good for you for walking! The consumer has the power and it's past time that we used it. Only then will these dealers quit playing their stupid games.
how are you tellurides treating you, im looking to pick one up, used.
@@Ascension_3030 so far I really like it. It’s barely been a week though. We were going to buy used but the prices and miles didn’t make much sense. If you can get a great deal on used then maybe. I did find a used one with just 9k miles but it sold the day we decided to buy it. It sat for 45 days on the lot 🤣 My luck it sold the day we made our choice. In the end we went new. I wanted the Kia warranty and I wanted white. Good luck!
Dropped my '21 Ram 3500 at dealer for a transmission recall. I am friends with the sales manager and used car manager. Their lot is chock full of Jeeps/the fancy grand Cherokee, pickups and others. Guys said business was upside down, their Floorplan was over 90K a month. They are having a harder time getting good used cars to sell. I saw lots of '23 discount stickers at the lot. A '24 Rubicon in the showroom was over 76K . Amazing
Holly damn!
I'm always happy to let someone else cover the steepest part of the depreciation curve on a vehicle.
What depreciation curve? Those days are long gone. It's more like a straight line these days. I never thought I would say this, but it mathematically makes more sense to buy brand new if you plan on keeping it for at least 7-years.
Unless you are buying a car with moderate to high miles, that axiom ended in 2020.
@@user-gq2vn1xj2r Just found this channel today, might have the answer on another video. Why did that axiom end in 2020? Is it because there are fewer cars produced during the chip shortage years?
You inherit the appreciated gross things inside that vehicle as well.
I was browsing CarMax just today. Even with the cars with low miles the savings is significant. Every vehicle purchase (about once a decade or so) we entertain the idea of buying new. But then we start shopping. We just started shipping again this week. New just doesn't make sense unless you are wealthy enough to shrug off that premium you are paying. I am not wealthy enough. ;)
My 2017 acura ilx A-spec was hit by a drunk driver when it was parked and totaled the Sunday before thanksgiving last year. Bought it at 11k miles and it was totaled at 28k miles. Had 3 more years to pay it off. I wouldve waited to get a car around this time but was in desperate need. Ended up getting a 2021 acura TLX base model at 28k miles for i think 27k OTD plus GAP and extended warranty in December last year. It was the only great offer for that time but after 2 weeks of driving it, i went to CarEdge again and saw dealers selling the same car with technology package and less mileage for the same price and even at times less than what i paid. Its crazy how fast the dealers act and things change. No regrets, i didnt have a choice since i needed a car.
Ive been seeing a ton of Acura's listed really affordablely in my area. 2020 Mdx's for less than rav4's of the same year with half the miles on the acura
@@delbomb3131 must be nice. The TLX is starting to go down in price becuz sales did horrible like most cars with inflated prices. I will definitely get an MDX next time, but i pray that nothing happens to my TLX. I really dont want to have a car payment for once and have all that extra cash in my pocket.
@@allendelacruz7970 yeah i have an 08 rav4 that's taking a dump on me, there's 2 2020 MDX's in my area for 20k, both with under 50k miles on em, neither with an accident, both single owner. Getting really difficult to resist. All the rav4's i see in that range are like 18's with 120k miles. My rav4 has a v6 and i really don't wanna go down to a 4.
What about the RDX? Nice car
@@barbaraporter6573 i personally dont like the way they designed the back of the RDX. The front is really nice though.
Was quoted 26k otd for used 2021 used Kia seltos. Went to another dealership and walked away with same price 2024 Kia seltos!!!
Bravo😃
It always amazes me how people will spend more money to buy a used vehicle thinking they got a great deal then they could’ve paid for a brand new one anyway!!! It’s right there anyway just walk across the parking lot to the other building and look before you buy the used. People are stupid!!!!!
Amazing 👏 you are the example we should all follow when in the market for a vehicle
similar situation bought a 2024 Hyundai Kona ended up being 2k cheaper.
And a better interest rate too I bet on a new vehicle.
Just visited the Honda dealership in central earlier this week. Happened to look at a new vehicle in the showroom and was surprised to see a market adjustment of 9999.95 . This is completely absurd.
Content title not click bait title, Thank you.
I have an older Mazda 3 that is my work car. It’s flawless with hardly any problems and easy to work on. Will keep it until the engine falls out. These new car prices are insane.
Got my 2018 Mazda 3 running strong, plan to keep it as long as possible too. Prices are still crazy
Mazda revamped their engines and transmissions in 2016 I believe with their "sky-active" stuff. They also partner with Toyota in one of their manufacturing facilities. One of the most reliable cars now, just don't get a turbo since that is a new thing they are trying out
@@shaharazad.- Their turbos were introduced in 2019. They’re not exactly new.
I’d really like to thank you and your Father for all the advice I’m about to buy a car and I’m completely lost
My wife's 2014 Cmax Energi was losing battery. Carmax gave us $5400 for it. Found CPO Lexus ES 300h, Luxury trim, with 28,000 miles for $34,300. Happy with that. My 2014 Camry hybrid still going strong with 230,000 miles.
How’s Lexus pre cert? I’ve heard good things. Any negotiation?
What year Lexus?
For the SUV buyer the Mazda CX5 is the way to go.. Been out forever with a proven reliable drivetrain, built in Japan & has 0% financing for 36 months…
Mazda in the snow
I will never buy another Mazda SUV. Mine leaked water from a poorly designed sunroof drain system costing me over $1K to repair. Eventually it began to leak again, so I traded it for a Honda.
@@debbiecanizales6549what year was your Mazda CX5?
So hey guys thanks for the videos. Bought a new TRD off-road pro 4runner on May 30. Got it 2k under msrp and interest at 5.9%. Little Rock Arkansas.
My wife and I both drive 2019 Mazdas and they have been awesome vehicles for the first 50k miles we have owned them. Staying on regular maintenance and we plan on keeping them for a long time.
50 years in the used car biz. Go to 4+ auctions a week. Late model Toyotas have not come down at all. Supply of Rav4, 4Runner, Corolla is non exisitant. Stellantis stuff is cheap but saleproof. The Blue Oval quality problems have made Escape,Edge, Ecosport impossible to sell. The best value is a new Toyota at or neer MSRP.
Thanks. In need of a new vehicle and eyes set on a Toyota rav4.
Yeah, I am looking for a current gen Sienna and the used market is pretty nuts. Will likely wait for an allocation of a new unit.
Just don’t get a Tacoma. Lots of engine issues.
Bought a new 2024 Camry.
I’m either going to get a RAV4 trd off road or a 4Runner off road premium. Just depends on if I can haggle a decent price on the 4Runner. As I’d prefer the V6
My credit union offers 5.50% 36 months on new cars, 6.50% 36 months on used vehicles
I want you guys to know that your videos saved me a ton. I really enjoyed and continue to enjoy the amount of valuable information and knowledge that you guys have. I was able to get 2 cars for a deal and more importantly know that I did get a good deal. Keep it up gentlemen!
Just purchased a 2024 telluride s at msrp. I'm content with the price at 38k, added a warranty for 2k, 40k out the door which seems pretty better compared to other regional best prices (was priced 42k before additions at other dealerships)
I love how data driven this channel is. Bar none one of the best car UA-cam channels
We just purchased a white 2024 Honda Civic Sport Touring for 33k out the door with nano ceramic thrown in instead of regular tint....paid cash too! Your videos definitely helped the process a ton.
Please pick 6 models with the best (most) inventory for your next segment. Nice to know what manufacturers are flush with inventory, but exact models would add to our knowledge.
To add to your Used car comments. In 2016 I was in the market for a VW Touareg, specifically the TDI. As it was the last time you could purchase. Dealers were asking over 60k . I purchased the 2017 Wolfsburg gas and extremely happy.
But just came across a 2016 Touareg TDI LUX, 70k miles on it asking $17,000 ! Not bad.
I almost always buy used. A year ago got a 2021 Titan very well loaded for probably close to 30% off new and it is CPO. It was 2 years old and had 4,000 miles on it. Yup, I'll take that any day!!!!
Great video, I have a quick question. I am an aspiring trader, I am looking study some traders and earn off their expertise rather than investing myself and lose money emotionally. Whats your take on copy trading? Do people really make money? Just looking for some reassurance.
Thank you!
Focus on long term investments in property, stocks, and bonds. Avoid copying, daytrading and 'chart astrology'. Diversify across different geographies, industries, and value chain stages - to reduce your risk. You can do this with ETFs, or by selecting different stocks yourself. This is the best way to invest for more than 90% of people
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
It is essential for you to have a mentor to keep you accountable
1. Limit your spending/cut off retail therapy
2.Put the extra cash towards investing in high yielding or steady investment.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
ANGELA LYNN SCHILLING' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
In the process of buying a new Honda Ridgeline RTL. Used the info and tips from Car Edge to get a deal I am happy with.
love my ridgeline
Love my ridgeline
Bought a brand new GMC Canyon AT4 a few weeks ago, couldn’t be happier. Paid MSRP but zero fees so the sticker price is exactly what I paid!
I'm hoping to get a GMC Canyon Denali in the coming weeks, hoping to get under MSRP by a few thousand if at all possible. we'll see
@@eglassyglass definitely give it a try! Being such a low production truck it’s hard to get them to budge, but i was able to get more for my trade in.
@@BensCanyonAT4 At worst I'll pay sticker but it's a sweet truck and moving on from the Tacoma
@@eglassyglassYep way better than the 24 Taco that’s what i was originally going to get but it’s not even close
Hope they fixed all the issues
I am beginning to see a trend of all sales people trying to convince buyers that outrageously priced ,poorly made vehicles are a great thing to jump into for the next ,,,,years of your life. Dealers and agents here are trying the same old tired wore out ,we are family, we are here for you, you won’t believe the deals we have. etc,etc,. When I see a new purchase going down the road I count my blessings it’s not our signature on that long term contract. If the warranty runs out before the payment book,run,don’t walk.
What do you mean "poorly made"? Compared to what? How do you define "poorly made"? You just "know this" or you have actual data. What does that even mean? Who defines "poorly"? You?
@@danielrn133I’d say look at the vehicles that stay in the shop all the time for the first 50,000 miles.
Best to keep your current car as long as you can. Keeping my 12' Altima a lot longer. I change the transmission fluid every 2 years so hopefully that will keep it going.
I have a 2013 Altima with 61k miles. You are absolutely right on changing that tranny fluid religiously. Carvana offered me $5400 for it but I'm not selling. It runs fine but there is always thar worry about that cvt tranny. Peace.
I have a 2008 with 352 km. I do the CVT fluid every couple of years and the coolant as well. Still drives perfectly.
Have a 2006 chevy malibu LT over 200,000 miles....bad oil leak but trying to hold out for prices to drop.
Lol 00 crv, 00 Celica GTS, 04 fx4... I fix my own stuff and pay cash.
@@peterferk1376 Very important to change that coolant on time because your transmission cooler is located inside the radiator. I have mine changed at the dealership between 3 and 4 years. Original Nissan coolant I use.
This was a great video guys. You put together some fantastic content. I happened across one of your other videos last week, and have been, working through, some of your other videos since. I have been really impressed with everything I have seen so far. 👏🏽👏🏽👏🏽
Buying a car this summer, glad the market’s stabilizing. Dealers won’t negotiate until cars hit the lot, but they started the haggle game with their markups. Haven’t bought a car in a while, but the process feels more adversarial than it should. Dealers, stop making it tough for buyers! Thanks to CarEdge, I’m avoiding overpaying.
Wait until the fall because in July there will be a new law out where car dealers have to honor the price they are advertising
biggest thing to remember is you are the boss at the dealership.. before you go to a dealership know you numbers.. how much do you want to PAY, NOT how much can you afford monthly. that is the first trick they try.. bottom line is have a OTD price,, Out The Door ,, number you think is fair based on available info and market norms. (out the door is tax, tag, title, and any dealer fee or other junk fee they come up this)
when you give your first number make it $500 below your actual number.. cause they are going to balk big time.. and maybe lie telling you they can not absorb the tax and tag fee.. BS.. they will come back with a number closer to the original price and you say ok give your number now with the $500 added on.. if they balk get UP AND WALK THE FU$K out.. if they came back just keep walking.. the only number you care about is the number on the bottom of the page that matches your OTD price. .. nothing else matters. good luck. stay strong.
Thanks buddy for the reminder: out there door price!!
My Wife and I have been putting off buying a New 3/4 Ton Pick Up Truck since 2020. Our plan was to buy a New F250 during the Fall of 2020. Well, that did not work out and we laughed our butts off at paying over MSRP. Over the past month or so, going to a bunch of Ford dealers in New England, we start at 5K below MSRP. They are biting, BUT. We are pushing to get at least 7K below MSRP. I am Old, done this before over the decades. We will make this work, maybe this Summer, Maybe this Fall.
What’s the point just buy the truck
What’s the point in buying a truck? You’ve waited so long that I don’t think you need a truck.
Can you do a vid on the best used hybrid to purchase this year?
just bought 2024 Kia Carnival EX for 9% off MSRP + 5.5% APR 60 mo Kia Motors Financing. We did a tug of war over the trade in value but got a decent trade in value too on a crappy Dodge Caravan. Overall very happy with the minivan, payment and the process. The fowler dealership was also eager to move their cars before the hail season hits here in Colorado, so that was helpful too.
@11:38 - “average APR on a new car loan is a little over 9%” - have to shop around. Plenty of dealer in-house financing below 5% for qualified buyers. Mazda is one example.
I bought a brand new Q50 Infiniti for 6k off MSRP. No junk fees out the door with tax for 42800. I'd like to say it was my brilliant negotiating skills but I made what I thought was a low-ball first offer and they took it.
Deal. Congratulations
What trim? I want the autograph and it was way more than I wanted to pay. Dealer would not come off MSRP
What did you pay in the finance office?
My Subaru dealership never raised the price over sticker during the Covid era. My Honda dealership has a side sticker of $7K for junk they added. Goodbye to those dealerships which piled-on side-stickers prices. I will go with Subaru. I do have a KIA dealership not so far away, but they cannot match Subaru in safety, and the reliability I have doubts on. Looks like many recalls on those I was considering at KIA. Ouch! Some good styling. The warranty sounds good. Not having to use the warranty however is priceless.
I'm looking at Subaru right now(Outback has a stranglehold on me). Did you finance, lease or buy?
@@camillemoore9737 I have not bought a car yet. Will do cash. For now, I am keeping my car. After driving an Outback, I am thinking it might not be for me. The cars is solid and quiet enough, but filled with gadgets. Sure I can turn off most, but I am not liking all the nanny tech. The tug on the steering wheel, having to turn off the auto-stop/start every time. The seats are good, but the back cushion I prefer on the car I have. Also realize the advantage of sitting high, just might not be my cup o' tea, as I like the old style more down to road level. I think my Fusion, with a 2.5 lt engine gets a little better MPG too than an Outback -- don't really need AWD all that much on the coast of Calif. I might look at KIA, as they are local, and see what the Seltos ride is like. The turbo is quick. At times I want my Accord V6 back. Loved how a V6 or V8 just drives without having to be maxed out on the gas peddle. And when mashed, the Honda V6 made wonderful engine sounds. Today we have four cylinders and mostly tall boxy SUV. The world has gone to....
I started buying cars in the early '80s, a time when Honda dealers brashly added market adjustments and add-on crap. I wouldn't have any of that nonsense. It took me nearly 20 years to get to the point where I'd walk into a Honda dealership again. Bought a 2004 Odyssey (for a good price) which we still have and love!
Our last purchase was a 2015 Forester using Costco's Auto Program. Couldn't have been easier and other Subaru dealers wouldn't even consider the price that I was given...
Im actually working a second job just to get a car brand new just to run it as far as she’ll go and just to save more in general. Six days a week 3 full time days in dialysis and 3 as part time, keeps me busy
I got my wife a 2023 KIA Sportage (gas engine), for $25,210.00!!! We both love it!!!!
I love you guys, im a retired ex body man that spent 24 yearsas a insurance inspector gor the good neighbors
I was browsing for fun the other day Caredge, and I couldn’t believe a new 2022 Shelby GT500 sitting still on the lot with ADM of $45k 🤣🤣🤣🤣
Lol. It will sit forever
Ray, your research and data that you provide is great...
Pay cash for a vehicle you can afford. Since lockdown and working from home I’ve been making car payments to myself. Just paid $17000 cash for a 2018 RAV4. I’ll continue to do so at a lower rate since I will have this one for at least 10 years.
This guy is so wholesome I love it.
Somehow, our local carmax messed up or finally figured out they gotta lower prices. We just picked up a 3 year old fully loaded rubicon 4 door, 30k miles, you can tell it was cared for, no undercarriage damage from offroad use. Sold it to us for 1500 under the LOWEST Blue Book value for Good condition. I've never seen them sell for less than max blue book in Very Good Condition. Best otd offers from local dealer was... 70k. In fact, used models at local dodge dealers, with no options, ie sound, towing, and lack of leather seats, same mileage and appx year going for 2k more or worse.
I just leased a new mazda3 4500 off msrp with a 0.9 money factor. I made this move because right now my interest rate at a 755 score was 9.9 (best i could get). Based off my projection with interest rates dropping off due to unsustainability (as well as a very attractive buy out), im pretty optimistic about the future of this deal. Youre bang on with Mazda. The value theyre offering at the current time is fantastic.
A week ago I bought a 2023 Hyundai Sonata Limited Hybrid (top of the line trim model) with 5,000 miles. It cost me $29,777 on 7.4% interest. I'm sorta regretting it now.....I could've gotten a 24" Hyundai Elantra Limited Hybrid for identical price....BUT I could've saved $2,500 on an interest rate on a brand new car....special interest rate of 4.9%.
I’ll most likely be buying either a new or used Civic/Corolla, possibly even a Camry/Accord this summer. Thanks for the info guys
You guys are amazing. I’ve been researching and looking for a good used car for my teenager. It gives me a lot of anxiety. Currently looking at a 2009 Toyota Camry with 118,000 miles on it. List price is $7200. I want to go into the dealer with as much information and knowledge as possible to get the best deal possible.
First, people hate the dealer buying process, no one likes to go in and haggle over a price, or watch a dealer try to add as many hidden fees as possible. Second, brands have raised their prices way way to high. So you got a bad buying process and bad prices, which equals no one wants to buy anything.
That's why i think carmax isn't so bad....
I just go sit in the seats and fart.
There are thousands of dealers out there that are fair and do not charge bogus fees or addendums. It only takes a small amount of research to find them. And if you don't like haggling, don't engage in haggling. Haggling only occurs when the customer throws out a low-ball offer. If you don't do that, you should have a pleasant experience.
@@leonardyoung6821 I'm thinking of low balling my local on 2 trucks by 10k... They may bite, as they're over by at least 8
@@leonardyoung6821 BS
Keep us informed ❤
What about in Canada? Do you have data in Canada of what to buy, new or used?
I bought my first new van, a Ford Econoline, 150 in 1977, when they first released the 1978 models.. six cylinder, three speed manual on the column, a box, with two seats, no power windows, no air-conditioning, no cruise control. I only needed a van for getting my racebike’s to the racetrack, and a vehicle that I could sleep in at the track overnight… It was perfect for that although I swore I would never buy another vehicle without air-conditioning again..
I had that truck for 31 years. When I sold it to a Buyer that only needed the engine., It drove away.. I did spray it with 50 weight new not used motor oil underneath to prevent or slow down rushed here in Pennsylvania where they salt roads in the winter.. I had a job where I could use public transportation to, and from work, and I commuted by motorcycle in the warmer months of the year for about eight months of the year. So it did shit a lot and we would use my wife’s car mostly, because I stored all of the dirt, bikes and equipment and gasoline in the van most of the time.
I do keep vehicles for a long, long time. My wife’s last car was nine years old when we sold it, my current ram, 1500 Big Horn, 4 x 4, with the hemi, is a 17, which I spent five days rustproofing with fluid film.
so far so good, my truck only has something like 16,000 miles on it, because we use my wife’s car for all the running around, and we are both retired now, and I don’t lend my truck out..
we will see how many years I have this truck. It has been perfect so far, the only thing I have had to do it besides oil and filters, is, put air in the tires when the weather gets cold and replace the windshield wiper blades.
I have the annual rust proofing inspection videos on my UA-cam channel of my truck to show how well it is holding up here in salty Pennsylvania. One thing I do like about the new vehicles is the fact that they come with stainless exhaust systems. I did have to replace exhaust pipes and mufflers on my 1978 Ford van it seemed like every four or five years they would need replaced..
Curious about those 0% APR vehicles. I’ve seen certain models. Currently negotiating QX80 being that the new one is coming out soon and body style will totally change. They’re dropping off price significantly and offering 0.9 for 60 months. I’m watching their inventory, still sitting at 11 on the lot for a little while now. Waiting to the end of this month to hit them up again.
Ford Mach E has 0% financing
Can we get an updated video of things to look for and negotiating for a NEW car in 2024? Thanks
^ this and bonus can it be with a Mazda CX-5, I really need help, this process is so stressful 🫠
This channel is an inspiration guys. Good luck with everything.
How about noone buy ANY vehicle in 2024. Let the industry squirm. Payback is a beach.
The customers have the power and it is past time they used it. Once they do these dealerships will quit playing their stupid games.
EXACTLY.
Same if ppl STOPPED buying houses $150K OVER market value.
STOP, ppl, STOP!
But my car broke down and Americans dont believe in walkable cities.. so
I'll be driving my 5 year old car for 20 more years. Only has 25k miles on it
People will keep buying because some people have FOMO “The fear of missing out”
I’m using the years 2012-2019 as my baseline for “normal” discount off MSRP. During that decade, pre pandemic, you could buy a mid trim level F150 late in the year for 20% off MSRP. Sticker was approx 50k and you could easily buy one for 40k. I don’t think we should even consider getting excited when we see a 10% discount off MSRP.
If they jacked up the prices 50% 2024 won’t be a year to be remembered unless they drop prices by 40%
I’m looking to buy a Toyota tundra, how much can I negotiate off the MSRP? I honestly didn’t even know you could pay less than the advertised MSRP. I have never negotiated a car before, I own a Tesla which doesn’t negotiate
We got an extremely good deal in my opinion on a New 2024 Telluride. Car stickered at 46 we end up paying 39 for the car and 42 something after tax and dealer fees.
😂😂😂😂
Better than I did! MSRP of 44770 paid 42,000
What trim??
I have a 2021 Lexus ES300h lease coming up in a month. Residual is $22k to buy this with the Bluebook somewhere in the $29-30k in the condition I have kept it. The right move is to buy it and sell it correct?
Hey Caredge! I trust you guys wholeheartedly. My fiance and I are looking to purchase a used 3-row SUV with under 40,000 miles.
We are looking at 2021 Toyota Highlander LE, 2021 Mazda cx-9 Touring, and 2021 Subaru Ascent premium. Looking to spend less than $30,000. I have options available for both. (I only search single owner, no accident, personal use only vehicles.) all three are priced as follows
Highlander - $29,000 - 30k miles
Cx-9 - $26,500 - 22k miles
Ascent - $26,500 - 33k miles
Could you PLEASE give me your best option? I am leaning towards the Highlander because of the long-term reliability. We plan to hold this vehicle for the next 6-10years.
Thanks in advance for your help. I really appreciate it. As always, thank you for the great content.
Ray & Zach the dynamic car buying duo 😎🎯
Doesn't work when you drive into the Local Dealership, some have cut back on ordering inventory on purpose, yes to hold prices up! Lithia Motor Group is doing this and many many others. Remember Lithia is the second largest in the US.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience.
Hey there, your videos are absolutely fantastic and very helpful. I just went to car edge and was signing up, I noticed your subscription fee is $999, is this actually correct?
Just stumbled across you guys and genuinely appreciate the content and insights. Extremely valuable consumer information IMO. This may be a difficult question for you to answer but do you know if the canadian market generally mirrors that of the US? I am not aware of anything or anyone providing the insights that you do with a Canadian Market view…
One of your best podcasts to date. Thanks!
My local Kia dealership still has 12 2023s and no markdown prices
Kia 😅😅😅 👎👎👎👎👎
@@laylabono4035 Kia actually makes pretty reliable cars since around the 2017 or so time period. but they def don't like to mark down their cars
I'm in the market for a truck, will likely buy a used one as I want to stay around $50-$55K. Would love to hear a segment on trucks
Ray’s caution on buying a new car in 2024 should not go unnoticed. If you NEED a new car it’s a good not great time to buy.
Just bought Subaru Forester Wilderness 3G under MSRP and 2.9% APR wanted Rav4 TRD or Aventure but none in NJ but Subaru came with more features and only small increase in insurance. Also because of you learned about tied selling can't thank you enough❤
Congratulations! “Tied selling”? Can you please explain?
I wish we have this kind of content in Canada. Where can I find days of inventory north of the board?
Ray, what changes would it take to make this market a great time to buy a new car and are those changes possible?
Thank you guys for taking time out to give us knowledge on purchasing vehicles.
I just helped my sister buy a car, a 2024 Kia Forte GT Line. MSRP with destination was 26,515. We talked the price down to just under 24,000. Did we get a good deal?
Thanks to your videos I hit them with the "out the door price" line. They did not want to give me the number.
Thanks, guys. This is fantastic!
Ex Salesman here, in Australia so AU dollars. My last 2 cars I bought (privately) 6 months to a year old, you avoid the large depreciation upon purchasing new, also pick a vehicle that is generally sought after. Happy Days. Holden Statesman =- New RRP $54,000, bought for $32,000 1 year old. Hyundai Santa Fe Highlander $64,000 new got for $48,000 6 months old. Still have it, owe 8k on it and its market value private is currently $32,000.
must be a different market because in US 6 month old cars dont depreciate at that rate. Typically difference is so small that purchasing a brand new car with much lower APR, costs less than buying a 6-12 month old used version. If youre paying cash, its a different ball game - but if you have 50k to plop out for a new car, then youre likely wanting a brand new vehicle as well
I ended up buying a 2024 Hyundai Kona SEL and feel that I got a good deal compared to a 2019 Toyota Rav4 with 80k miles I paid about 1800 less for the brand new Kona VS the 5 year old Rav4
And you have a new car warranty on a NEW vehicle. Smart move!
I got a 2020 Toyota Rav for sitting on the lot for 65 days I believe. I'll have to go and check using your Website, I got an incredible deal for it. The car salesman was absolutely shocked as I mentioned I wanted to test drive this car and told me well we must of missed this car its been out so long. It drives great and it runs really well. Got a solid deal off of it.
My car is looking to cost 47k after taxes and everything. But I’m planning to get a car brand that’s super reliable so I’m planning to keep it till it croaks
Yeah, 3Q 2023 the new Pacificas were about $43K, and now the same van (probably built in 3Q 2023) is now $53,000. Ain't buying.
Right now, prices are only going up. Maybe next year will be better.
Thinking of buying '21 white Lexus UX, one owner, lady leased, low mileage. $27, 998.
If you don’t take it let me know!
Had the Choice 8 months ago NEW Cash $68,000 Chevy [NOT] Got a 23yr ago USED Truck for nearly Nothing $$$ and Renewed it [ added a IPad holder and Rear view camera system] Cost $5000 Bucks.
Would have been $5,000 in taxes alone for the new truck 😂
@@InternetUser._ Best 5G I ever spent oh! this inc/s $500 8 bottle💟 GMwhite Raptor Liner kit for the coming DYI sanding & Paint job. 🤍
@@InternetUser._or four payments
Do you have any information on the Nissan Frontier, should I expect to be able to negotiate their list price ?
One of the local dealers in Peoria, AZ the Nissan dealer is knocking off -$5000 on MSRP for the 2024 Rogue SL. No one wants to buy a vehicle with a 1.5L turbo and CVT transmission.
With 3 cylinder turbo😂🤣🤣What a pile of garbage.
@@charlesjackson1700 Right. That's going to be a massive headache in the future for costs and repairs.
Yep. I'm dealing with this crap right now. Trying to trade my 2020 Tesla 3 in because I need a van and it is absolutely ridiculous the drop in value. I am so pissed right now.
If you have an older but well running and good (body) condition pre-2012, etc. vehicle, Id suggest that you repower it with a precision 'remanufactured' engine. Benefits: little to no klunky electronics gizmos that dont last, honest fuel economy, high tension piston rings that dont get stuck and destroy cylinder walls ... typically at 80-90k miles, less insurance costs, .... and best of all - NO dealer hassles and traditional 'scalping' by a dealer.
I went to Infinity last month and they wouldn't budge on price, so I went to Lexus and got a great price.
I just went in Hyundai for a used ioniq 5 SE for $29,999 with only 10k miles on it, and the OTD was $38k. They took out the package (4k), so it went down to $34k. Seems good, but they didn't have an invoice due to it being the owner of the lot's car (they should still have some invoice, but I guess not?).The car value was $22k. If i had signed that deal, I would be in $12k+ in negative equity.
I told them we can start near the value price so i said $23k, or im not doing the deal. I didnt even get to the california ev rebate ($7,500) lol. They didnt like me at all!
needed a car and i drove a beater we bought new in 04, so i got 20 years out of it i can't complain, but when i was looking at a used car from the past 5 years or so, alot of em were just as much as a new car after the interest! if not just shy of a new car. so I bought a new subaru forester, 2.9% interest isn't terrible and it wasn't over msrp. and my monthly payment is pretty low since i put 10k down. hopin to drive it for another 20 if im lucky! i will say subaru really didn't put anything on my bill i could negotiate out it was pretty much just car, tax/title.reg, and that's it. kind of refreshing after running around toyotas, hondas, and mitsubishi.
Gave up trying to buy the new Corvette. By the time the prices came back down to sticker, the interest rate is prohibitive, even with 50% down. Instead, I'll spend the 30/40k to completely redo my 80s one. Without all the electronic crap that I don't need and costs a fortune to fix. Same with my 06 Mustang and F250.
There better vehicles aswell all the new stuff is junk
Insurance rates have risen 20 % + this year no matter how clean your history is.
I myself think new is the way to go with vehicles. With used prices maybe half of new, your letting the original owner get the warranty and hopefully trouble free miles and you get what is left. I say buy new, do the maintenance and keep it till it won't run.