Car prices are dropping and this is when you should buy a car from a dealer in 2023. Car expert explains why car prices are going down and when is the best time to buy a car. We also look at which cars, SUVs, hybrids and electric cars have the biggest and smallest price drops. If you are planning to buy a car in 2023, make sure to watch this video.
Visit to access free car-buying resources and sign up for the quarterly newsletter, Consumer Line.
You can also contact OMVIC’s consumer support team at consumers@omvic.on.ca or 1-800-943-6002 for expert advice and answers to all your car buying questions.
SUBSCRIBE TO CHANNEL:
Website:
Instagram:
TikTok: @shariprymak
ABOUT ME
With over a decade of experience as a professional car buyer and auto consultant, Shari Prymak has helped thousands of consumers with their car buying needs. Car Help Corner provides honest, objective, consumer advice with all aspects of car buying and car ownership. For more professional advice, check out Car Help Canada, become a member, and subscribe!
Watch more new videos about Car | Synthesized by Mindovermetal English
Good to hear I did the right thing. Back in 2010 I bought an RV loaning a substatial amount. RVs was in high demand in Sweden then so I thought selling it later would be easy. 2 years later I tried. The used RV value had halved, below my level of loans. Turns out in those two years the market had been flooded and demand was low. So I still own it. Still paying off loans. Wise from the experience I sold my 2014 Mini Countryman before christmas. I realized that the prize could plummet over the spring if I waited. Turns out I was right. I got the asking price for it. Sold it at just the right time.
Hello sir I wanna buy Acura MDX 2019 certified used car
Ist reliable car ?
Thank u
Didn't you just buy a Mazda 3 ? Didn't you watch your own youtube lol
This is honestly the best car review channel I've come across.
As a first-time car buyer, it's been a struggle finding video reviews of the latest 2023 car models. I'm so glad this channel exists and is pumping out so many useful videos!
I was planning to buy a car recently but I will stick with the cars I have and run them to ground, then buy used beaters.
Does it only apply for used car only ? How about new car ??
Hi Shari, what do you think about the build quality of the 2020-2022 Toyota Rav4 models concerning being built during covid. Have you seen any quality issues with these years?
I agree with the last sentiment. Take the longest loan like 7 years but pay it off in 5 to break even. Offset it with a down payment of at least half and you should be ok.
2016 Subaru Outback.2.5 limited 64500 miles. Still worth more than half of what I paid for it. Ain’t going nowhere soon. The ride is still comfortable. The cargo capacity is untouched for what it is and the all wheel drive is second to none snow rain and I feel safe top safety pick plus thank you Subaru.
Dealerships are still gouging consumers. Many of the manufacturers are forcing buyers to pay for "options", that are not optional. $250-$300 for floor mats, really????? They are taking advantage of consumers big time.
I’ll believe car prices are coming down when I see the Toyota dealership around the corner from my house with cars available on their lot. Right now it’s empty. Pre Covid it was full.
Car prices in the US aren’t dropping at all ! Dealers are sticking to their guns. The price they offer is take it or leave it
They need to bankrupt and never start again. They are all 25,000 to high
Not coming down where I live. Used upper end cars still as much as 10k over priced.
This was very helpful for me, thank you Shari. One question – I've been on the market for a new car for almost a year now (USA), and knowing that 2023 would ease up some of the prices/availability I thought to just stick it out, especially for a new hybrid. Is it better to order one now through a dealer vs. waiting till summer for the possibility of a better deal?
Thanks
👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻
I purchased a rav4 hybrid in early 2022. Got a call from the dealer and said sorry we won’t honour your invoice price +2K and oh by the way we have to reappraise your trade in — probably +3k .. now I am out 5k and oh by the way the interest rate on the loan has almost doubled. What can I do? How do I handle this? Walk away? Complain to Toyota corp?
Very interesting information 🔥🔥🔥
Thanks for the video.
Dear Sir I wish you could make similar videos for the car markets in Europe! Here in Greece each company for example kia or Toyota have specific price lists all over the country and in about a period of less than 2 years all the car models took plus 3.000 to 6.000 euros or US dollars crazy increase! If we take a loan the interest is about 9% our salaries are minimum 40% cut and the cost of living is 60% up especially super markets, petrol etc! We are in desperate situation, we were expecting more logic car prices but in the beginning of the year 2023 the new Toyota price list was increased ! We say here in Greece that if something goes up very rare goes down ( not including salaries of course) for this reason we have very old cars mine Toyota corolla 1.6 petrol model 1998 my wife's Toyota starlet 1.0 petrol model 1990, we are planning to buy or the new Toyota CHR 1.8 Full hybrid ( comes in November 2023) or Kia XCEED 1.6 diesel hybrid 1.6 ! Do you believe these very very interesting information from your video include European car prices also? Thank you!
Good information, 👍🏻🙏🚙
What are your views on Audi Q3?
Thanks for the great information. I'm patiently waiting o purchase a 2022 vehicle. 😉
Another great video. Shari knows his stuff
this is Biden"s Building Back Better.
Bull they are just trying to push people to buy a electric car and good luck trying to fine a charging station
The first good news this year. Thanks.
As someone who is looking to replace my vehicle, I tend to watch a lot of car buying programs. Why is it that Shari isn’t being truthful with his reporting? We, as Canadians are getting the bad end of the buying experience. Why hasn’t Shari shared with us how to buy used cars from the states, where we can save thousands? I’m fortunate enough to travel cross boarder regularly, new and used car lots are packed with vehicles in the states …. Why not here? I was recently told that I would need to wait up to 2 years for a new car, laughing I walked away, I will figure out how to buy my next car in the states … next month! Why not teach us, how we get “screwed” by dealers in Canada for extra things that we don’t have to pay … in BC destination fees are NOT mandated, they are tacked on by dealers, we don’t have to pay them. I’d like to trust Canadian representation, unfortunately, I’m realizing it’s more about your sponsorships than helping us save money!
Your intro says you get straight to the point, but 6 minutes in and still talking about increasing prices. Get to the point… like you promised
This post is for rational, reasonable, and sensible buyers, not for emotional, sentimental, and impulsive ones. The latter may just go about their usual business of getting screwed by their auto-buying habits and the predations of auto dealers as they continue to be obliviously happy fools who are soon substantially parted from their money.
For the initially listed buyers… Do Not Buy a new or used car now or until late 2024 to early 2025… interest rates are exorbitant, and prices are ridiculous and will not come down to reasonable levels until mid-2024 to early 2025 when supplies surpass demand and inflation has begun to recede… much due to a climate change of political winds, and much just due to the economic realities of what goes up must eventually come down…
Prognostications from someone who was once in the retail auto business for 20 years as a salesperson, finance & leasing manager, truck manager, sales manager, and general manager… also, with a BS degree in finance who continually follows the pulse of our fickle economy.
Which month is the best month to start buying a new car
Exactly! Unless you absolutely must have a new car because you NEED a new car, don't do it. Cars in general are almost always bad financial decisions. The time value of money is of critical importance in developing wealth.
Thanks for your advice of paying off early my car loan to reduce the impact of high interest rate.
Material and labor costs are going up for manufacturers. Interest rates are still on the rise. Good luck.
We save our money and pay cash for everything except for our mortgage.
We refinanced our house last year and got a 2.9% fixed for 30 years. Since we pay at least One extra payment a year, we’ll have our house paid off in 18 years.
We Love our Subaru’s, but there’s no way we’re going to buy a Soltera for 50K when it doesn’t even have a Glove box or a spare tire.
We’ll wait for another less expensive AWD with enough ground clearance for our needs.
Tesla dropped the price of their vehicles bc her in USA our government is discontinuing a LOT of the tax credits for buying an EV.
The incentive for buying an EV for the tax credit is fading away. Furthermore now there are many more automobile manufacturers who are building EVs at a cheaper price, so Tesla will loose customers if they don’t drop the price.
Now there are a lot more EVs that are cheaper and more reliable than a Tesla, so the average consumer will buy a vehicle that is cheaper and more reliable.