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Is there a car market RESET on the horizon? Ray and Zach break down the data that leads them to believe that both the new AND used car markets are getting back to normal. They also answer everyone’s favorite question: should you buy new or used right now???
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You guys been saying the same thing for the last two years
I sold a rusty 2006 4Runner in 2022 for $7k. I bought it for $9k in 2021. It’s for sale now in 2024 for $12k 😂
thank you guys
I can’t find any new car worth buying for under MSRP. Some won’t even go that “low” it’s insane. I was looking at used and nobody is selling, probably because they also don’t want to buy in this crappy market. It reminds me of what’s happening to the housing market. Nobody wants to sell and lose their 2-3% interest rates
Prices definitely tanked for 2024 compared to last year
Real life example, I bought a brand-new 2018 VW Passat GT VR6 for around $26000, that was $6000 off MSRP! I just sold that car on 8/09/2024 for $18000 private party. It only had 55k miles. My phone was ringing off the hook, not only from private people, but dealers wanting to buy. You can't find a comparable car in today's market for under $40,000.
if everyone stop buying car in 9 months, maybe car price will drop
This is the best car channel
Ill just keep driving my van until it stops driving and just keep fixing it. People are broke Market, this is the truth idc if the few arent, we are.
Did the market reset or normalize as hoped?
Rumpelstiltskin from Shrek, is that you?
More cars on the dealership lot is like a dream come true for them. Dealership became collectors instead of selling cars.
You guys say to check how long cars have been on the lot and you could probably get a better deal on ones that have been there longer… but my question is what does that do to the health of the vehicle? Are they driving these cars once a week? Or do they just sit there and rot 😂
The Texas market is insane. I think that's just how it's going to be for used cars here. I was watching a 2013 Honda Fit. 70K miles. The dealer originally marked it up to sell for 13,9. Once it got to 11,9, it sold. They still had about $1,000 worth of TTL. So that car went for almost or at least 13K. That's actually close to the cars actual MSRP. I am a member of honda fit Reddit. Even the people that own those vehicles are saying they wouldn't buy those vehicles at that pricing. People can't afford this. I have really bad credit since the pandemic. I'm just going to have to keep my car longer. There's no more trading in after you know 5 years. Cars may have to be kept for 8 or 9 years now.
Prices need to be cut in half for anyone to even think about buying a new car right now
I had an emergency to buy a used truck in 2020. My son found an internet sale at 16,999.00 after sales tax and dealers fees I paid 22,000.00 out the door 🚪. I still have that truck and it’s been good for me. There’s nothing wrong with buying a used vehicle. Just make sure you have someone that can go with you and check it out. I had my son that’s well versed in mechanic’s.
5000 dollar car is 2000 overpriced. 10 thousand car is 2,700 overpriced. Don't be stupid.
Still too high
Listening to you guys is so annoying! You say the same thing in different ways, over and over and over and over again! I had to stop watching. Omg!
100% accurate… but I call BS on any reset. Greed has taken over, and prices will never readjust. It's highly political at this point, and this is working-class manipulation.
A local dealer took $5k off a new 2024 Honda Passport EXL. It was $41200 out the door. A great price. Unfortunately, I still can’t afford the monthly payment in today’s economy.
So when is our insurance going down? 🤨
Should a used 2024 car with more options than most on the lot cost almost as much as the new car? The car has 1,200 miles but the options on that specific mustang are a lot more than the others I’ve seen and no one really has what I want except that used 2024.
How many more decades CarEdge?
I cant believe people are sayinh it hasnt happened yet. I buy and sell a lot of cars and can absolutely tell you prices have plummeted. Take a bmw M4 or porsche macan. Both have lost $10k in one year with ease..
Haven't seen the dealers change much.what there doing is lower their price a little and steal yours
Same news every week- still haven’t seen a penny of movement downward