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What to Expect When Buying a New or Used Car in 2025 and 2025 Car Market Update Report by Kevin Hunter The Homework Guy. THG brings the best Hassle Free Car Buying Service in the USA and God Bless America!
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Today, we’re talking about what you can expect when buying either a new or used car in 2025. While some of this will be familiar to our regular fans, a lot has changed in the car market over the past few years, and that means new opportunities for you guys this year. Opportunities that you haven’t had for a few years.
Inventory Levels Are Stabilizing. Finally! Yes, let’s talk about inventory. The pandemic and global chip shortage of the early 2020s created a nightmare scenario for anyone trying to buy a car. In the last few years. dealership lots were empty, and customers were paying over MSRP for models that were once heavily discounted. The good news? As we enter 2025, those inventory issues have largely stabilized, and market adjustments have pretty much disappeared, except for a small handful of extremely insane car dealers.
Manufacturers have ramped up production, and supply chain bottlenecks have eased everywhere. You’re sure to see a healthier selection of vehicles on dealer lots this year. However, some high-demand models, like EVs and
hybrids, may still experience shortages, so plan accordingly if you’re in the market for one of those.
Sadly, Prices Are Still Generally High
Now, here’s the reality check. While inventory levels are improving, prices haven’t exactly plummeted. New car prices remain high compared to pre-pandemic price levels. The average price of a new vehicle in late 2024 hovered around $48,000, and we’re not seeing any significant drops coming in 2025.
Why? Like their dealerships, Automakers are focusing on profitability over volume. They’ve shifted their strategies to prioritize high-margin models like SUVs, trucks, and luxury vehicles.
Used Car Market: It’s Still A Mixed Bag
Let’s shift gears to the used car market. Prices for used cars skyrocketed during the pandemic, but 2025 is expected to finally bring some relief. With new car production stabilizing, more trade-ins and good lease returns are making their way to the dealership lots, increasing the supply of used vehicles.
That said, not all used cars are created equal. Be prepared to sift through your options carefully and pay close attention to the vehicle history report. Also, be wary of flood damaged cars. There sure were plenty of hurricanes this past year, and that means lots of flood damaged cars!
Also, certified pre-owned (CPO) vehicles are gaining popularity. While we often say they aren’t worth the extra money, CPO cars can come with manufacturer-backed warranties
Financing: Higher Interest Rates
If you’re financing your car purchase, brace yourself. Interest rates are still sitting significantly higher than they were a few years ago. If those rates start to drop, we’ll be the first to let you know. In 2025, the average APR for a new car loan is projected to be around 7% to 9%, and unfortunately, it’s even higher for used cars. This means you’ll pay more over the life of your loan unless you happen to have excellent credit.
To combat this, shop around for financing before you set foot in a dealership. Get pre-approved through your own bank or credit union, or an online lender to secure the best possible rate. If you happen to be a veteran, there are plenty of good options out there for you, like Navy Federal, USAA, and Pentagon Federal Credit Union (PenFed) to name a few…. And don’t forget—a bigger down payment can help reduce your monthly payments and overall interest. 20% down also eliminates any need for expensive dealer GAP insurance policy.
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appreciate the information, been shopping, but not finding any thing worth taking. just yesterday spoke to a dealership but could not come to a good deal, but what bothered me is that each go around he would reduce the car a bit more – id prefer just get to the bottom line first, stop the back and forth. my current least has equity but he was not coming closed to full equity and said that they have to put money into the car to get it ready to sell – this car was just at the dealership last month for the scheduled maintenance…With the equity i have and high market value for my car i am leaning towards buying my lease. – buy out is $34,700 with tax and market value is between $44,000-$46,000 . i don't think ill find a lease deal that makes sense right now. i also think the money factor(interest rate) are making the deals worse even with excellent credit which i have
GREAT CHANNEL!
Been looking to upgrade the wife's car, now on month #2. So far, from what I've seen and heard from here and others, along with personal observations-dealers have no other choice but to liwball all trade offers. They can't afford to discount any more than MFR discounts. They've now lost all the money they ripped off with their ADM/Market Adjustment BS. All they can do now is make lowball offers on trades, then hold onto them to sell themselves. Dealers sell POS trades with stupid high "doc fees" for cash flow. Also keep and sell low mileage, quality trades for stupid high prices, because the people can't afford the COVID cars they overpaid for. Customers are now victins if their own demise.
They should have listened to y'all-"you can show them the well, but you can't make them drink the water "
How can the average person find out what invoice price is? If I knew what invoice price was it would be much easier to present a reasonable offer.
Unfortunately Trump's tariffs are going to allow dealerships to boost prices on vehicles. I'm in the market for a new truck and I am trying to pull the trigger as soon as possible because I know this is going to happen.
Thoughts on the 2025 Chevy Equinox LT AWD (no CVT)? What would a good price be for 3GNAXPEG1SL151344
New car loan $1200/mo. Lease $750/mo
Every dealer is loaded with vehicles with sewing machine engines and cvt transmissions.
Keep that junk!
We're not buying it!
Ling live the V8 dummy!
I am a little nervous but recently 2011 chevy impala broke down. Now I a need a new car I want a suv chevy traverse 2020 or 2021 with low mileage but I feel like I was taken advantage of when I got the impala in 2013 I dont want go though that again
Is it good to buy Honda Civic from 2008, 2009 or 2010 ,because the older Civics did have good machinery?
We just got quoted $38k for a new Civic Hybrid, we laughed and walked out. Will buy a used Prius.
Car makers are about to learn a valuable lesson. They want to dance with the black market on these subscriptions for navigation, seat warmers, etc. Little do they know that when you dance with the black market you dance until the black market gets tired.
New sub
If we improve the railway like japan has, improve busses, maybe these dealership understand that sometimes, cars are useful, but not necessary. But sadly, if you live in places with inadequate commuting options, cars are needed and they capitalize on that. I'd use a bike or even e-bike but being a parent, could commute to work, but going out with children, sometimes commuting is a nightmare.
In a world where 90 percent of the cars one looks at are no where near local. I don't know how to make that work
with the PPI. I completely agree with the need for PPI but practically seems pretty tough.
Idiots are still buying high priced cars. Nothing is changing. Finally a real video. Thanks for being honest.
I think to be fair tk sia with dealer discounts these knid of percentages might be coming in the near future on 22s,23s,maybe 24s
WHAT IS YOUR THOUGHTS ON BUYING A USED CAR FROM ENTERPRISE CAR RENTALS ?
What car company subscribes heated seats!!😮
It's gonna be an interesting year for the auto industry.
If I'm buying a car with heated seats they better f'ing work without a script. I'm not sure I trust this channel with their market evaluation. I see other channels that seem to be more accurately informed. PS. have you heard Carvana is doing shady stock trading, and approving 100% of loans.
The reason automakers are choosing to produce high priced models is because people (buyers) continue to buy them. The average car buyer today cares more about tech & creature comforts than ever before. If you to ask a car salesmen, they will tell you that the majority of cars they sell are either a mid level & high level trims. They are struggling to sell base models ones. People just don’t like driving a car with cloth seats and basic features. That’s why the prices can’t come down.
Carmax is a horrible place to get a quote from for a trade-in. They will lowball you as much as they can
Car market markdowns additional ??? is it True?????
I'm trying to be patient and let the used HD truck market catch up from the shortages. I don't want to pay new prices but apparently there still aren't enough used HD's available to get used prices down to a decent level.
What is happening now with EVs?
Great advice I think I will use your buying service once I get all the test drives done.