Before you buy, check with your insurance provider about your new rates. People are finding out their rates increase sometimes by hundreds of dollars per month. Now they can't afford the coverage. DON'T SIGN THE BOTTOM LINE UNTIL YOU KNOW THE TOTAL COST. Monthly car payment and insurance payment.
Used car prices haven't made sense for several years now. You see one a couple of years old with 20-30k miles and it's only 1-2k lower than a brand new one exactly like it.
I recently visited a Nissan dealer, and they had a new 23 Rogue on the lot with a 32K sticker price. 30 feet away was a used 23 Rogue with 14K miles. The sticker price was 30K. It's as if dealers don't want to sell used cars right now.
They’re just using the same model that offered them great profits a couple years ago. Until they are forced to do so they will not change. My hunch is that a wave of discounts is coming across almost all vehicles.
For the SUV buyer the Mazda CX5 is the way to go.. Been out forever with a proven reliable drivetrain, built in Japan & has 0% financing for 36 months…
I will never buy another Mazda SUV. Mine leaked water from a poorly designed sunroof drain system costing me over $1K to repair. Eventually it began to leak again, so I traded it for a Honda.
In 2004 I bought a brand-new Acura RSX right off the showroom floor. I literally drove it out of the showroom with 8 miles on the odometer. I still have that car. It has 109,000 miles on it. It doesn't have all the "bells and whistles" that today's cars have, but it still serves me well. I drove it to work every day from 2004 to 2016 when I retired. It's still my only vehicle, although I don't need it to go to work every day anymore. Had a major maintenance check done on it a few years ago. and I see no reason to go into debt for any new "bells and whistles." By the way, registration and property tax on it last year was only $65. . .
@@siry5164 Hi there. . .Just saw your comment. I live in Wichita, Kansas. Are you in Kansas? I live in Sedgwick County and that's what they billed me for this year's registration and property tax. I haven't paid over $100 for a number of years now. Sometimes I wish I had the money to move to California, although these days maybe not. I'd actually like to move to Arizona, either Tucson or Phoenix. But friends I have there say I better be ready for the heat and a much higher cost of living. So, I'm still in Wichita, but at least my car reg. and prop. tax is low!
A vehicle is only a "necessity" in order to get from A to B and back. For most, they are an emotional buy or even a "lifestyle". With just under 5,500mi/yr on that RSX since new, you're either a recluse or extremely budgeted.
@BluesImprov exactly. Good for you. Besides, another thing that ppl don't take into consideration is all the technology that's now loaded onto these vehicles. My background is IT and I say "Hell NO!". Having to pay on depend on a connection. Big Pappa always tracking you. No thanks. I have the bare essentials & I couldn't be happier. 60mpg hybrid 2015. Love it!
It always amazes me how people will spend more money to buy a used vehicle thinking they got a great deal then they could’ve paid for a brand new one anyway!!! It’s right there anyway just walk across the parking lot to the other building and look before you buy the used. People are stupid!!!!!
1:45 - THIS is one MAJOR reason why the vast majority of Americans don’t have $1000 in their bank. I make $180k and have NEVER spent more than $25k on a vehicle.
Just visited the Honda dealership in central earlier this week. Happened to look at a new vehicle in the showroom and was surprised to see a market adjustment of 9999.95 . This is completely absurd.
Dropped my '21 Ram 3500 at dealer for a transmission recall. I am friends with the sales manager and used car manager. Their lot is chock full of Jeeps/the fancy grand Cherokee, pickups and others. Guys said business was upside down, their Floorplan was over 90K a month. They are having a harder time getting good used cars to sell. I saw lots of '23 discount stickers at the lot. A '24 Rubicon in the showroom was over 76K . Amazing
Went this week to get a Kia Telluride and the dealer gave a 3% discount off MSRP but added over $3k in BS dealer add-ons that were ‘non-negotiable’. We ended up walking.
@@jenamosqueda6924 that must be nice. We got an excellent rate from Kia but the dealer wouldn’t budge on the add ons and it’s too common here in Phoenix. Per Car Edge the car has been on the lot for 40 days, well it can sit longer for all I care.
@@Ascension_3030 so far I really like it. It’s barely been a week though. We were going to buy used but the prices and miles didn’t make much sense. If you can get a great deal on used then maybe. I did find a used one with just 9k miles but it sold the day we decided to buy it. It sat for 45 days on the lot 🤣 My luck it sold the day we made our choice. In the end we went new. I wanted the Kia warranty and I wanted white. Good luck!
50 years in the used car biz. Go to 4+ auctions a week. Late model Toyotas have not come down at all. Supply of Rav4, 4Runner, Corolla is non exisitant. Stellantis stuff is cheap but saleproof. The Blue Oval quality problems have made Escape,Edge, Ecosport impossible to sell. The best value is a new Toyota at or neer MSRP.
I’m either going to get a RAV4 trd off road or a 4Runner off road premium. Just depends on if I can haggle a decent price on the 4Runner. As I’d prefer the V6
Have a 2019 Mazda CX-5 built in Japan, that has been driven 80,000 flawless miles. Other than new tires, brakes, and oil chages every 5,000 mi, it has been 100% reliable. It's interior is best in class and it's also fun to drive.
Used Electric?? Are u kidding me?? How does q buyer gage how many more miles one can get out of that with a USED BATTERY as opposed to old reliable. People know if they buy a used Corolla they will get 200k miles or better depending on maintaining the vehicle. Americans Dont want electric, just look at the stock market
My 2017 acura ilx A-spec was hit by a drunk driver when it was parked and totaled the Sunday before thanksgiving last year. Bought it at 11k miles and it was totaled at 28k miles. Had 3 more years to pay it off. I wouldve waited to get a car around this time but was in desperate need. Ended up getting a 2021 acura TLX base model at 28k miles for i think 27k OTD plus GAP and extended warranty in December last year. It was the only great offer for that time but after 2 weeks of driving it, i went to CarEdge again and saw dealers selling the same car with technology package and less mileage for the same price and even at times less than what i paid. Its crazy how fast the dealers act and things change. No regrets, i didnt have a choice since i needed a car.
Ive been seeing a ton of Acura's listed really affordablely in my area. 2020 Mdx's for less than rav4's of the same year with half the miles on the acura
@@delbomb3131 must be nice. The TLX is starting to go down in price becuz sales did horrible like most cars with inflated prices. I will definitely get an MDX next time, but i pray that nothing happens to my TLX. I really dont want to have a car payment for once and have all that extra cash in my pocket.
@@allendelacruz7970 yeah i have an 08 rav4 that's taking a dump on me, there's 2 2020 MDX's in my area for 20k, both with under 50k miles on em, neither with an accident, both single owner. Getting really difficult to resist. All the rav4's i see in that range are like 18's with 120k miles. My rav4 has a v6 and i really don't wanna go down to a 4.
Do NOT buy a Kia. My transmission went out at 20k miles with nothing but issues before that. We had to use legal action to get them to honor the warranty. My friends soul had a trans failure and also the k5. Trash!!
@11:38 - “average APR on a new car loan is a little over 9%” - have to shop around. Plenty of dealer in-house financing below 5% for qualified buyers. Mazda is one example.
I have an older Mazda 3 that is my work car. It’s flawless with hardly any problems and easy to work on. Will keep it until the engine falls out. These new car prices are insane.
Mazda revamped their engines and transmissions in 2016 I believe with their "sky-active" stuff. They also partner with Toyota in one of their manufacturing facilities. One of the most reliable cars now, just don't get a turbo since that is a new thing they are trying out
I walked away from trucks. I paid cash for a Subaru Outback. Trucks have priced me out. I would like to have one. but I cannot justify them anymore. 50K plus..then tires are more expensive and they burn way more gas. I am out. I could "afford" it, but I am sane and said adios to trucks.
What depreciation curve? Those days are long gone. It's more like a straight line these days. I never thought I would say this, but it mathematically makes more sense to buy brand new if you plan on keeping it for at least 7-years.
@@user-gq2vn1xj2r Just found this channel today, might have the answer on another video. Why did that axiom end in 2020? Is it because there are fewer cars produced during the chip shortage years?
I was browsing CarMax just today. Even with the cars with low miles the savings is significant. Every vehicle purchase (about once a decade or so) we entertain the idea of buying new. But then we start shopping. We just started shipping again this week. New just doesn't make sense unless you are wealthy enough to shrug off that premium you are paying. I am not wealthy enough. ;)
I am beginning to see a trend of all sales people trying to convince buyers that outrageously priced ,poorly made vehicles are a great thing to jump into for the next ,,,,years of your life. Dealers and agents here are trying the same old tired wore out ,we are family, we are here for you, you won’t believe the deals we have. etc,etc,. When I see a new purchase going down the road I count my blessings it’s not our signature on that long term contract. If the warranty runs out before the payment book,run,don’t walk.
What do you mean "poorly made"? Compared to what? How do you define "poorly made"? You just "know this" or you have actual data. What does that even mean? Who defines "poorly"? You?
First, people hate the dealer buying process, no one likes to go in and haggle over a price, or watch a dealer try to add as many hidden fees as possible. Second, brands have raised their prices way way to high. So you got a bad buying process and bad prices, which equals no one wants to buy anything.
There are thousands of dealers out there that are fair and do not charge bogus fees or addendums. It only takes a small amount of research to find them. And if you don't like haggling, don't engage in haggling. Haggling only occurs when the customer throws out a low-ball offer. If you don't do that, you should have a pleasant experience.
I have a 2021 Lexus ES300h lease coming up in a month. Residual is $22k to buy this with the Bluebook somewhere in the $29-30k in the condition I have kept it. The right move is to buy it and sell it correct?
My wife's 2014 Cmax Energi was losing battery. Carmax gave us $5400 for it. Found CPO Lexus ES 300h, Luxury trim, with 28,000 miles for $34,300. Happy with that. My 2014 Camry hybrid still going strong with 230,000 miles.
Just purchased a 2024 telluride s at msrp. I'm content with the price at 38k, added a warranty for 2k, 40k out the door which seems pretty better compared to other regional best prices (was priced 42k before additions at other dealerships)
Who the hell came up with a variable transmission? I just drove one and man is it stupid. All it does is shift, shifts to second at two miles an hour. The car either takes of too fast or too slow. What a POS!
They are saying more supply = more deals and less supply = less deals. They are saying avoid dealer markups. They are showing what brands will be difficult to deal with, fair and easy based on the Numbers. They are showing data on supply, demand, incentives etc. What are you missing?
I want you guys to know that your videos saved me a ton. I really enjoyed and continue to enjoy the amount of valuable information and knowledge that you guys have. I was able to get 2 cars for a deal and more importantly know that I did get a good deal. Keep it up gentlemen!
My Subaru dealership never raised the price over sticker during the Covid era. My Honda dealership has a side sticker of $7K for junk they added. Goodbye to those dealerships which piled-on side-stickers prices. I will go with Subaru. I do have a KIA dealership not so far away, but they cannot match Subaru in safety, and the reliability I have doubts on. Looks like many recalls on those I was considering at KIA. Ouch! Some good styling. The warranty sounds good. Not having to use the warranty however is priceless.
@@camillemoore9737 I have not bought a car yet. Will do cash. For now, I am keeping my car. After driving an Outback, I am thinking it might not be for me. The cars is solid and quiet enough, but filled with gadgets. Sure I can turn off most, but I am not liking all the nanny tech. The tug on the steering wheel, having to turn off the auto-stop/start every time. The seats are good, but the back cushion I prefer on the car I have. Also realize the advantage of sitting high, just might not be my cup o' tea, as I like the old style more down to road level. I think my Fusion, with a 2.5 lt engine gets a little better MPG too than an Outback -- don't really need AWD all that much on the coast of Calif. I might look at KIA, as they are local, and see what the Seltos ride is like. The turbo is quick. At times I want my Accord V6 back. Loved how a V6 or V8 just drives without having to be maxed out on the gas peddle. And when mashed, the Honda V6 made wonderful engine sounds. Today we have four cylinders and mostly tall boxy SUV. The world has gone to....
I started buying cars in the early '80s, a time when Honda dealers brashly added market adjustments and add-on crap. I wouldn't have any of that nonsense. It took me nearly 20 years to get to the point where I'd walk into a Honda dealership again. Bought a 2004 Odyssey (for a good price) which we still have and love! Our last purchase was a 2015 Forester using Costco's Auto Program. Couldn't have been easier and other Subaru dealers wouldn't even consider the price that I was given...
Please pick 6 models with the best (most) inventory for your next segment. Nice to know what manufacturers are flush with inventory, but exact models would add to our knowledge.
I almost always buy used. A year ago got a 2021 Titan very well loaded for probably close to 30% off new and it is CPO. It was 2 years old and had 4,000 miles on it. Yup, I'll take that any day!!!!
I am tired of buying another persons problem. My co-worker bought a used 2022 CRV and bought the $3,500 warranty. Why? Buy new you get a warranty. I only buy new Toyota Camry or hybrid RAV4. It is worth paying $3 k more than a 3 year old used Toyota.
I’m looking to buy a Toyota tundra, how much can I negotiate off the MSRP? I honestly didn’t even know you could pay less than the advertised MSRP. I have never negotiated a car before, I own a Tesla which doesn’t negotiate
Curious about those 0% APR vehicles. I’ve seen certain models. Currently negotiating QX80 being that the new one is coming out soon and body style will totally change. They’re dropping off price significantly and offering 0.9 for 60 months. I’m watching their inventory, still sitting at 11 on the lot for a little while now. Waiting to the end of this month to hit them up again.
Hey Caredge! I trust you guys wholeheartedly. My fiance and I are looking to purchase a used 3-row SUV with under 40,000 miles. We are looking at 2021 Toyota Highlander LE, 2021 Mazda cx-9 Touring, and 2021 Subaru Ascent premium. Looking to spend less than $30,000. I have options available for both. (I only search single owner, no accident, personal use only vehicles.) all three are priced as follows Highlander - $29,000 - 30k miles Cx-9 - $26,500 - 22k miles Ascent - $26,500 - 33k miles Could you PLEASE give me your best option? I am leaning towards the Highlander because of the long-term reliability. We plan to hold this vehicle for the next 6-10years. Thanks in advance for your help. I really appreciate it. As always, thank you for the great content.
My wife and I both drive 2019 Mazdas and they have been awesome vehicles for the first 50k miles we have owned them. Staying on regular maintenance and we plan on keeping them for a long time.
I love the Acura MDX. Have had a Acura before and the quality is solid. Went looking at the MDX and love them. They are up there in price. Don't want the base model though. They don't bargain with their prices. Sticker price is what it is unfortunately. What are your thoughts on the MDX. Also, the KIA Sorento is pretty nice but I feel like there is a lot of plastic inside and it's not real leather seats either. Nice looking though. Thanks for your advice.
I have owned several MDX's. I was with the Acura brand for 13+ years and I know it to be a high quality brand that lasts a long time. I will say this, you cannot compare the MDX and the KIA Sorento they are just not in the same class. If the MDX is too expensive today then look at the Honda Pilot since both vehicles share the same platform and many underlying parts. I think quality wise and longevity wise, ultimately you would find the Honda a better value than the KIA. All the best, Ray
@@CarEdge Thank you Ray. Your comment is much appreciated since I didn't know what to do because what looks nice on the outside may not be so nice under the hood. Being myself, I must claim being somewhat naive when it comes to the technical aspects of a car. Thank you again for responding.
This was a great video guys. You put together some fantastic content. I happened across one of your other videos last week, and have been, working through, some of your other videos since. I have been really impressed with everything I have seen so far. 👏🏽👏🏽👏🏽
To add to your Used car comments. In 2016 I was in the market for a VW Touareg, specifically the TDI. As it was the last time you could purchase. Dealers were asking over 60k . I purchased the 2017 Wolfsburg gas and extremely happy. But just came across a 2016 Touareg TDI LUX, 70k miles on it asking $17,000 ! Not bad.
My 2012 Subaru legacy is worthless due to cosmetic damage and age. It's not worth enough to have comprehensive on, so we are just praying nothing bad happens and saving up for a down payment.
Somehow, our local carmax messed up or finally figured out they gotta lower prices. We just picked up a 3 year old fully loaded rubicon 4 door, 30k miles, you can tell it was cared for, no undercarriage damage from offroad use. Sold it to us for 1500 under the LOWEST Blue Book value for Good condition. I've never seen them sell for less than max blue book in Very Good Condition. Best otd offers from local dealer was... 70k. In fact, used models at local dodge dealers, with no options, ie sound, towing, and lack of leather seats, same mileage and appx year going for 2k more or worse.
My issue with used cars at this point in time is that they are overpriced. Secondly the newer ones seem to be from rental companies. #3 the number of repos has risen drastically and we know those owners most likely did not maintain these vehicles near the end of their possession. #4 I think potential buyers should research recalls and overall quality e.g. I would have to be getting 60% off MSRP before buying a dodge Chrysler or Jeep product
My experience.. definitely go new car. Banks have been having issues with dealers as of late and are offering more incentives for people to go new over used, as its a safer investment for them. Also, I just got a Subaru.. brand new, fully loaded for $3,800k off msrp without as much as a negotiation just through a couple of text and phone calls. Subaru is even offering 2.9% on new 2024 models. I think they are pretty good bang for the buck cars. Nothing too fancy or high risk like Kia's and Hyundai.. which have a ton of issues from both a reliability issue and from a insurance issue. Toyota and Honda are nice IF you go with their lower economy cars... Rav 4, CR-V, their sedans... their newer higher tier cars are over priced MSRP and not very reliable (Toyota engines esp now). But they are only offering high interest rates starting as high as 7%. They are extremely expensive even if you can get them under MSRP....which you won't, because they know they have a hot brand name and there's no reason for them to negotiate when someone else will happily come along. I think Mazda, Subaru, lower tier Honda/Toyotas are they way to go for now IF you need a car.
Just stumbled across you guys and genuinely appreciate the content and insights. Extremely valuable consumer information IMO. This may be a difficult question for you to answer but do you know if the canadian market generally mirrors that of the US? I am not aware of anything or anyone providing the insights that you do with a Canadian Market view…
I bought a brand new Q50 Infiniti for 6k off MSRP. No junk fees out the door with tax for 42800. I'd like to say it was my brilliant negotiating skills but I made what I thought was a low-ball first offer and they took it.
I was in Palm Beach, Verno Beach ,Florida for a week.. They have the new 2025 Camry priced 7,000.00 over the sticker price.. All trims had that Mark up.. They have lost their minds....
Hey there, your videos are absolutely fantastic and very helpful. I just went to car edge and was signing up, I noticed your subscription fee is $999, is this actually correct?
yep they know the American Truck market has collapsed so now they can raise their prices again since its till cheaper than a truck but they dont have to keep them so low to try to convince people to buy one
@@bruceleeroy8302 I guess the cost savings that Toyota is realizing by having the new Tacoma built in Mexico isn't going to be passed along to the consumer.
My car is looking to cost 47k after taxes and everything. But I’m planning to get a car brand that’s super reliable so I’m planning to keep it till it croaks
It’s so depressing. I’ve been waiting 3 years to get a new car. And can’t afford any of this unreliable over priced garbage. And I started watching this show two years ago and it really got my hopes up. But to be completely honest. From my view literally nothing has changed. Inventory is up. And my ass still can’t find a maverick for under 32k thousand in sacramento. It’s makes you wanna give up 😂 and then you guys go” expect 10-15% off this summer “ they MARKED THEM UP 60% homie
Thanks for all of your videos. I'm looking to get a used Dodge Challenger GT AWD, live in NY, and want to pay cash. How can I negotiate the BEST deal? Perhaps you can make a video buy a used car cash in 2024. Also, buying in your state and/or out of state as well. Thanks again.
A week ago I bought a 2023 Hyundai Sonata Limited Hybrid (top of the line trim model) with 5,000 miles. It cost me $29,777 on 7.4% interest. I'm sorta regretting it now.....I could've gotten a 24" Hyundai Elantra Limited Hybrid for identical price....BUT I could've saved $2,500 on an interest rate on a brand new car....special interest rate of 4.9%.
@@pmscalisi I guess. $tealerships could figure out any day now that the internet exists, and that many people are not going to pay 5-10k extra over driving 200 miles to a better deal!
I don't think Kia has increased their prices significantly. They seem to be only offering models with higher trims or now the hybrid motor so that makes the price higher. And they are putting out less space models but still advertising the base starting price as a way of getting people to come in. Am I wrong? I don't think the same vehicle model they just jacked up the price. Am I wrong, if so by how much or is it just certain kias?
Some of your charts on this video don't make sense to me. For instance, the new car average inventory and the brands with "a lot" of inventory don't match up... Why would the deals be better with Infiniti (106), Audi (87) and Buick (72) over Mazda (107) when Mazda has a higher new car inventory number on your chart? Wouldn't Mazda be the place to get deals if your chart is correct?
We just purchased a white 2024 Honda Civic Sport Touring for 33k out the door with nano ceramic thrown in instead of regular tint....paid cash too! Your videos definitely helped the process a ton.
8:45 - Just wait til this pending crash gets some momentum -> when the average Joe layman realizes we’re ALREADY IN A STATE OF FREE-FALL…! To complete the analogy, we’re in that first second after falling off the mile-high cliff… when you lose your stomach and feel like you’re floating. America thinks she’s floating right now. That crash we all been anxiously bracing for is finally here… and I say this to our chagrin.
Great videos thanks. I live in the uk , can you provide the same review for us here please? I’m looking to buy a new ev, have a Tesla 3, want to change to say bmw i4, new or second hand, thanks
