By dennismary.slave@gmail.com 
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CarEdge Podcast: Daily News You Can Use
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Today on the Daily News You Can Use, Ray and Zach discuss the latest data from Black Book and Cox Automotive. Both data sources paint a scary picture for the used car market … Prices are down 11% year over year. Tune in to learn more.
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After cutting my teeth at the Ciassuli dealerships in Little Falls, I can tell you that some heads will be lopt off over these loses.
Add this to the current beginning of the recession we are going through and this trend is not looking good for retail dealerships.
They are adding in their FP payments to the sale price of the vehicle.
Didn’t you claim this about 4-10 times before
Great information, and thanks sharing.
U 2 are shot. Telling the same story for 2 years. Eventually you'll be right. Bimbos
we, as the consumer, have so much power, it’s ridiculous! i get it, some of us are in need of a car… it’s really best to buy a car cash
Hot take: in defense of that Toyota dealership, it looks like the website price was just the MSRP, not their proposed sale price. Not that the dealership wasn't being shady… but that's why I call before I go! They at least have to tell me their starting price if I press them properly.
11% isn’t a crash lol – they’re profit margins are much larger than that so they need to come down another 15-20% before I’m even thinking about buying a truck
How the heck is Carvana still making money? Their stock has gone out the roof
11% is not a crash
I want to buy three new vehicles. I want to replace my ram truck, hellcat and get my wife a new SUV. However, none of that is going to happen when I go to my local dealer and they tell me that no problem it’s MSRP +1.5%. Ha ha ha I will drive the truck I have and already have a hellcat and other cars that she can drive. As long as these people keep paying these ridiculous prices for new vehicles they are not going to drop their prices. Hold the line for six more months and watch what happens to car prices. Just my rant for the day.
I’m surprised people are paying so much for Hyundai and Kia, especially given the recent issues with some of them being easily stolen.
❓Do you guys ever look at the market for luxury brands like BMW or Porsche?
My dodge challenger was stolen about two months ago. I had full coverage and received a nice settlement check however I have been staying at home and driving my girlfriends car because I absolutely refuse to buy a car new or used at these current prices and rates. It’s absolutely ridiculous and I’m not spending a dime until these prices drop.
Not sure on the lag for Canadian market, but it’s unbelievable that people are still overpaying 15-20% and the interest rates at 6-10%!!!! Lol, there will be blood in the streets when this one goes.
These are wholesale price declines. Used car retail prices haven't declined.
Dealers can say basically anything they want in an advertisement. An advertisement is not a legally binding contract. If they were to sign a contract with a buyer and a down payment was made and then they increased the price, they would be in breach of contract. That would be enforceable because consideration was exchanged.
Wow 😮 11% 😂😂😂😂😂😂😂
i was looking at a used subaru legacy. i used car edge, and saw the dealer sitting on it for over 7 months. they are still asking 22k. card edge sell your car came back at just over 14k. i offered 16k. no response!
By crash, you mean closer to normal since you believe they were inflated.
This is called the “car market”