Car Market Update For New & Used Vehicles – Watch Before Buying | SPRING 2024
Car Market Update For New & Used Vehicles – Watch Before Buying | SPRING 2024
Slides:
⮕ https://docs.google.com/presentation/d/1lyJ8Uahu3bTt4Qf_OQbB-E9owTLJJN0bZRcPJVcI1W8/edit?usp=sharing
Car Market Update for New and Used Vehicles in 2024 (VIDEO):
⮕ https://youtu.be/LfDZM4uRBd0
What Happens to Unsold New Cars? (VIDEO):
⮕ https://youtu.be/ohL51HtZ9xw
Fastest and Slowest-Selling Cars Data:
⮕ https://caredge.com/guides/fastest-and-slowest-selling-cars-2024
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⮕ https://caredge.com
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⮕ https://caredge.com/costs
🚗 CarEdge Cheat Sheets:
⮕ https://caredge.com/carbuying-cheat-sheet
🚗 CarEdge Strategy Cards:
⮕ https://caredge.com/carbuying-strategy-card
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⮕ https://caredge.com/dealschool
CarEdge Podcast: Daily News You Can Use
⮕ Spotify: https://open.spotify.com/show/5Mv58R6yJJnEDHZ5Zuy2SZ?si=33c98bb5bdf847a2&nd=1
⮕ Apple: https://podcasts.apple.com/us/podcast/daily-news-you-can-use-from-yaa/id1521589583
Instagram ⮕ https://www.instagram.com/mycaredge
TikTok ⮕ https://www.tiktok.com/@zachshefska
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Another quarter-year, another Car Market Update from Ray and Zach! They go over the new AND used car markets and offer insights as to how you should approach each one in the coming months.
0:00 New Car Market Update
10:10 Used Car Market Update
For all the good this man has done, please update his photo!!!!
I am interested in buying a car next month but, I do not have a trade-in. What do you do when you only have cash for a down payment?
I want a 2024 Buick Envision. Going to test drive when available. They look good
They’ve been in trouble for 3 yrs already.. everything is still expensive…
you guys said don ‘t worry about dealer finace interest rate get the car and then pay it off with cash. Your missing the point there is a early payment closeout penalty which is high!
Thank you for your channel. I’m a new subscriber looking for another vehicle. Hopefully your information will help me.
With inventories growing,rates yet to decline,expect sales to be slow. So expect prices to come down and incentives to rise. Don’t buy in 2024. This capital purchase environment resembles the 2008 financial crisis. There is no floor on automotive prices.They will continue to decline. Put another way, look at 2018 prices and apply the Fed target inflation rate on those prices, then apply over- correction on the still inflated prices. Take peak non-market adjusted MSRPs and expect at least a 10 percent haircut on 2022/2023 prices. Of course, I could be wrong.
Still heavily overpriced
These vehicles are still far too expensive. Won’t be buying anytime soon.
What do you guys think about the Nissan Titan?
You said this during covid 😂
I’m a blue collar worker. There is no wise time to purchase a new car. Totally unaffordable and until they make new vehicles more affordable to us, i dont care if those dealerships or brands go under. They do nothing for me, even with 10k knocked off, still nowhere near enticing.
These guys are full of bs and they just make money out of us lol
Should i lease a new kia gt fortre w incentives? Maybe offer 20 for the 23 asking price
Id imagine new and used are about to switch. As people reject used for new itll support new car prices while allowing used car in entory to hang around and get cheaper.
Thx guys. Always appreciate the inside the industry info!!! Plan on ordering a 2025 BMW M440i xDrive in summer. My paid-off 2-Series trade-in will be part of planned “down payment.” I don’t know if dealer trade-in offer is legit as Carmax – same model year & equipment as mine, but theirs has 25,000 more miles. Their on-line asking price is $5,000 higher. Yikes.
Is it cars on dealers lot, manufacturer, or all over the country for MDS
Perhaps I can help dealers with car shopping..GET YOUR FCKNG POPUPS OFF YOUR WEBSITE SO WE CAN SEE WHAT YOU HAVE!!!! I DON’T WANT TO CHAT, I DON’T WANT TO SEE YOUR BEST DEAL POPUP, I DON’T WANT TO SEE MY TRADE IN VALUE AFTER YOU’VE COLLECTED MY INFORMATION, I DON’T WANT YOU TO CALL ME, I JUST WANTED TO SEE WHAT THE F YOU HAVE IN STOCK!!!!! HOLY CRAP, I GIVE UP EVERY TIME, YOU HAVE CONVINCED ME NOT TO EVEN BOTHER LOOKING!!
Even used cars from a private party are expensive. Asking for 2k-3k dollars for a car close to 20 years old (or older) that needs a new transmission or motor is insane, yet, people claim to be firm in their price. 🤷🏼♂️🤷🏼♂️🤷🏼♂️
My local dealers have like no new inventory. Our Toyota for example has 6 yes 6 new Toyota’s on the lot. The only dealer that actually has a full lot is Dodge/Jeep and those cars are so overpriced it’s ridiculous. I mean seriously $50k for a base 2 door Wrangler with V6, auto, and hard top? Freaking stupid if you pay that🙄
I feel interest is outrageous with perfect credit and paying 5%. I’m currently upset, but i do like my truck.
I would have to disagree with this video 100% the car market is not favorable at all at the time of the release of this video I was looking around at my local Lexus dealer and they are overpriced in my opinion specially on hybrid vehicles I also saw prices at a Toyota dealership they are by no means less in price, including used vehicles dealerships are asking new prices for a used vehicles.
I also took a trip to a local Porsche dealer with 0 , 2024 inventory on hand all they had was overpriced boxters , cayman’s and 911 Carreras from different years and generation used nothing new in the exception of a few suvs, panameras and tycans new.
The chip shortage is coming. Mkt adjustments in San Antonio.
Just put a brand new set of Goodyears on my wife’s 2017 Pathfinder.. Looks like we’re keeping it! I refuse to pay these prices.
Dealers can’t sell cars but still adding sneaky unecessary markups like they did during the Covid pandemic. Makes no sense at all. Between their markups and absurd interest rates, even for well qualified buyers, it’s a horrible time to buy. We visited a dealership for a Tahoe last week and we left the dealership driving the same vehicle we came in. We just said "NO" to the madness.
how can we find out rebates in the St. Louis and St. Charles, MO area?
Supra 2024 markups are 6k over MSRP
Would you please do a video like this on new EV market?
These guys keep talking the same shit over and over i think they’ve said this for a year or so and no changes at all move on people cars are not gonna get cheaper with this economy
Zach made statement (around min 3.00 of video) that some of the Volvo electric cars sell 25-30k below msrp. I went to their site and was not able to find any. Or maybe I did not know how to look up? Zach – care to support your statement with fact?
My soon to be college graduate needs to buy a car..no rush bc using my car. Should he buy now End of May or wait till summer August?
What’s the best time or month to purchase a vehicle?
Whats the days supply on the gas mustang?
I have started looking at buying a used car. What I am seeing at multiple dealers is they’re list cars for sale but when I arrange to see it I’m told it’s not for sale until they do a service inspection. The last car I looked at has been listed for 12 days. I looked it it and wanted to deal on it but it hadn’t been inspected yet. It’s been two days and still not inspected. Salesman calls and says it’ll be soon. I don’t understand why it’s an issue at multiple dealers. Any idea?
Good vehicles and good manufacturers sell themselves, this is why there are so many domestic vehicles that have an over supply, junk doesn’t sell
Yeah you guys need to stop with these clickbait ads.
Thank u for this info, I’m thinking to buy a new car, better for MASS streets, the roads here are horrible!! It had take a toll to my Ford Taurus 2013, love my car, n it’s good looks! 😁 since last year, I had spend 4.000 😱😱😫😫 most road related issues 😡😡😡 n I don’t drive much!
In MASS u need a war tanker,
I can’t believe we have to pay the town to drive our cars!!
Don’t know what to do, plus my car it’s full pay already!! Don’t want to add up another bill payment! But yes $4.000 in repairs seems last year, that’s a good part of a car payment.
I don’t think I want brand new, can be 1 to 2 years old with low mileage.
The other thing, n the reason I love car is bz doesn’t look like most cars n SUV’s they all look a like!!! Stupid, KIA have some unique looks, but apparently not the greatest cars, I know Subarus can be great for this kind the bad roads, but not thrilled about it’s looks.
Jeeps they are not good cars for the price!
Any suggestions please!!
Damn…My favorite brand never on sale😂 Lexus
How much of this data would apply to the Canadian market?
It’s almost as if nobody wants these electric vehicles
“Bad time to buy a used car”… I don’t know about you guys but a $350 used car payment at 14% apr still seems much more affordable than a $730 payment at 2%… and cash in the pocket is a better investment than money into a depreciating asset during an economy like this. But I’m no expert so…
Do you have info on leasing? Ty
Still to high prices
How many times do they keep saying this? These guys are idiots.
Im in a bad situation with my vehicle atm, and cant afford much. My family told me.ro get an EV since i qualify and i said 100% fuck no. I would be stranded more than id please.
I’m just waiting for rates to drop so I can go buy my truck.
In the end, we all die, we can’t take nothing with us. I work hard to not get what I want. Yea payments sucked but guess what. You will always pay into dedt. It’s either Credit cards, or a house, cellphone. Travelling you can do a payment plan. So idk about debt. Just waiting for the rates to drop
All part of Biden’s build back better plan!
You guys rock!!! I saved thousands of dollars by watching your videos! please never stop making your excellent content!! ❤️❤️
I’m in the market for a used pickup, and the market is wild compared to when I purchased my current vehicle in 2018. Even with trading in my current truck, my monthly payment is going to be higher for a lesser trim than what I have currently. I’m basically paying more money to downgrade.
Dealers are not scrambling man will you shut up. Teach your son to be a salesmen and earn a living the same way you did . It’s pathetic how you’ve taught your son to just be a YouTube star earning money off of click bait bullshit