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Both new and used car inventory is on the rise! But will there be anyone in the market to take advantage? Ray and Zach dive through the data from Cox Automotive and Edmunds to show you how much things are changing (for better and for worse) and why.
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a lot of manufacturer captive finance companies will lock your rate when you order.
Hell yeah, crash the shit out of it so that I can buy car
I’m going to be “in the market” for a used F250 soon. Anyone have any recommendations on online sites I should check, other than CarFax, CarGurus, etc? And on that note…I check those sites daily for what I’m looking for I don’t see prices dropping for what I’m looking for.
Somehow the local mercedes dealership is still killing it. Dont know why. Outrageous prices, they treat you like crap. Yet they are sooooo busy and people are still buying them.
Uhh huuuhhhh. 😏
I can't imagine why??
Don’t buy let the dealer business die!
Prices are going down $20 big deal.
Long time listener, first time commenter. I'm still seeing on popular Vehicles such as the Kia hybrid are still bringing a $5000+ dollar premium
Build orders still close to a year out on truck! Please explain the trends on new truck purchases. when should I buy a new truck?
You guys nailed my situation. The truck I ordered five months ago is due for delivery in the next two weeks. Interest rates alone have me out on it. Right now I’m looking at 6 to 7 percent. I justified spending more for new and taking the depreciation hit for better rates. Think I’ll hold onto my Raptor for some time. Nice work guys great info on this one.
Stealerships deserve what ever they get. Who gave the Stealerships so much power. You buy, they sell.
More than just the car market is crashing
What does black book trade in values mean? Trade in values are less then wholesale values now?
I’m holding off for the newer Chevrolet electric vehicle with the new battery and more range. GM will dominate the in electric vehicles especially with a more affordable price and the 7500 tax reduction. Tesla is overrated in my opinion. I’ve got more confidence in GM all the way around.
1) Decisions and elections have consequences. 2) Adding 5 to 10k over MSRP 3) Hording inventory to pump up the prices… Go broke car industry!
What goes up, must come down.
I was in the market for an SUV a couple months ago. I realized that dealerships are asking MSRP due to low inventory, but many dealers were charging “market adjustments” on top if msrp. That is pure profit to the dealership, and you will never get even a fraction of that money back when you later sell or trade. I told every dealership that mentioned “market adjustment” that I was not interested. I looked at, and drove a Toyota Rav4 hybrid. It would have been perfect for me, but they had none in stock anywhere in the northeast, and the wait list for one was 8 to 10 months. A lot changes in that amount if time, so I walked away without leaving a refundable deposit.
Went to a Mazda dealer that had a CX-5 turbo in stock (just one) and bought it at msrp, cash deal because they would not do a single payment (no interest) lease.
People in California still have money and are still buying. Inventory has not gotten better in California
Due to the cost of living crisis buyers are deferring or cancelling big ticket purchases which will ultimately impact on new and second hand car prices. Supply and demand. In Europe there are seismic shockwaves being felt by greedy car manufacturers at the arrival of MG and the oddly named Funky Cat range of evs. They are sensibly priced and get rave reviews in the motoring press with seven year bumper to bumper warranty and a decent range. I have a wildcard bet that Christmas week might be a good time to make a car dealership a sensible offer. Thanks guys. You are definitely on the side of the motorist!
I'm still not seeing it. Used car prices are still very high where I live.
I only hope These price gouging dealers get orders canceled as consumers realize they can now deal on a new vehicle again. Perfect Timing for me personally as our 2021 Armada now has 24k miles so in a year I will be looking to trade. I am hoping for stock on lots and being able to negotiate as I did when I bought it before the world went stupid…
Next December, next December. Be patient
I'm getting offers to terminate my lease early and get new model.
Eh… it only hurts when it hurts. ; )Many people are impatient and then some people may need a vehicle, and not be able to distinguish 'need' vs. 'want'. If money isn't an issue, people tend to get what they want and might accept it. Or… if money isn't an issue, they find a way to absorb that difference in different ways (via their own businesses, write-offs, etc.). Needing a car to get to work, etc. – with the market what it (Still) is, my suggestion is always to look at reliability, mileage, accident history and price. Don't fall for the trap of color, model/brand, etc. People love RAV4s. But they're overpriced right now. Do you need it? Or just REALLY want it and are willing to justify that want by exaggerating your needs?
I don't know. I think it's important to be able to say 'No'. And that's something I admit I have a hard time with too – more than I'd like to admit TBH. But you gotta do it for YOURSELF for a better financial future. Just my .02.
I really appreciate this, perfect timing as my local dealer is playing the “selling like hotcakes” game with me… the person working with me over the phone doesn’t know I drive by all the time and can see the rigs piling up 😂
Prices are not coming down and dealers in my area charge quite a bit above msrp. I went to five dealers the other day and all of them said all dealers are getting above msrp. Found 2 dealers that didnt charge much but were out of cars and the ones coming in were sold
Can you give me names of dealerships where I can get a fire sale on a new or used SUV? I'm looking online and still see only ridiculous prices.
Not true. Car sales this week are higher. Rentals Buy ups