Today I give big updates on the used car market! Learn How To Save Time And Money The Next Time You Buy A Car: benjaminhardy.... Main Review Channel: / @benhardycars
While watching this video, I opened another tab and pulled up the Carmax Plano Texas website. Searched for used 2020 gasoline Toyota Corollas within a 250 mile radius. The cheapest used 2020 Corollas with 68 thousand miles still have a price tag of $19,000 plus taxes and registration. Shows that the good reliable compact cars (you know, the ones that buyers actually want to buy like Toyota Corollas and Honda Civics) are still in high demand and overpriced. Yes, I know Carmax is overpriced but if they feel confident enough to sell 5 year old used Corollas at such high prices, that must mean that the used car market is still inflated and far from normal. I've no doubt that used small compacts like Jettas and Elantras and Fortes and Sentras are a lot cheaper now but I personally don't want them. Some cars are not worth buying even if they're dirt cheap!!!
Prices aren't never going to go down as long as wages are going up it's a never-ending battle and people don't realize it it's supply and demand in the government is the cause of it😅
this is about the used market, and used car lots are full to bursting right now. plenty of people are getting rid of their ride to pay off high interest debt. if you aren't finding a good deal then you are looking in the wrong place, or you are looking for something like-new that doesn't fall from MSRP no matter what the car market is doing.
I'll believe it when i see it. Right now there's basically no reason to not get the new version of almost every vehicle out there. The prices are so close and used car interest rates are a joke. A year or two old car with a 10% APR is sometimes MORE than it's new counterpart with rebates and special APRs.
Depends on what you are looking for. I was looking and you are correct for the lower end of the market because buyers like me haven’t moved from what we are willing to pay for a vehicle, so that puts more pressure on the cheaper cars. The more expensive vehicles don’t have as many buyers and there are more of those. I bought a 2 year old ford explorer ST for 39k in February. Original sticker was 60k.
I hope he’s right. I’m getting tired of patching up my 18 year old SUV, but I’ll keep doing it if I have to. If I didn’t do a lot of the repairs and maintenance myself, there’s no way I could justify the expense to keep it in safe operating condition. I’m hoping to save a few thousand by waiting a bit longer to purchase something newer.
Used Big 3 cars should’ve always been cheap, they have dubious CQ to begin with and they are notorious for being problematic when not religiously maintained…. Why anyone ever bought a used Ford, Dodge, GM etc for 80% of that a new one cost is beyond comprehension
