Used Car Prices Are TANKING

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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 are joined by Brandon from Car Questions Answered. The trio discuss the latest data on the used car market. Tune in to learn more.

[ferrynpalmer]

I'm not sure that your average viewer cares a bit about the prices falling at dealer auctions. Wake us up when the actual dealers are passing that savings on to their customers. By and large, they are NOT doing that just yet. For every 1 dealer that is there, there seem to be 10 that are still trying to hold the 2022 line of absurd prices for used cars.

[TheWhale]

Just checked Caravana. They've dropped prices on cars I've been following by 500 bucks. So Now they're ONLY 3K over priced instead of $3500. WE still need Carvana or Carmax or someone else that's huge to start dumping cars. If they do that for a month straight prices will get low.

[inthedarkwoods]

Day 1, 000 of the "car market is So tired of these headlines.

[DB-bewy]

Tanking by what the dealers will give you for your trade maybe but certainly not tanking on what they are asking for THEIR used cars and they are STILL unwilling to negotiate. I've had several dealers tell me flat out the price is the price, no negotiation. I left and never heard back from them either.

[batsonelectronics]

the trade in value of my 2015 Honda has dropped around $2000 in the 5 months I have had it, ( including on your site ) the selling price is the same. Prices have not "tanked" profit on trades have gone up.
What a dealer buys it at auction does not directly correlate to sales price anymore.

[jollyfox]

Due to the industry having so many unethical creeps, wholesale prices don’t count. Retail prices are what consumers take into consideration.

[stanmarcusgtv]

EV sales in Germany have tanked by 30% year over year while ICE sales both gas and diesel are up

[tomahawk]

Been watching used truck prices in PA for a while now. No price decrease, but sometimes a price increase for no reason. Glad my 29 yr old F-150 runs so good.

[BuckRogers]

These headlines do more than act like clickbait - It sends people rushing to dealers to take advantage of these "TANKING" prices. They end up buying anyway, as they were inclined to do. The cycle continues...

[eddym]

They have to lower the prices at least 60% and people will be able to afford a car and that goes for homes too.

[hoapres]

As a consumer, I really don't give a DAMN about wholesale prices. The ONLY price I care about is the FINAL price that I NEED to pay. AND Those are NOT crashing. Maybe they WILL crash in the future but it hasn't happened yet.

[Hallowsaw]

Average family making 70k a year cannot afford the average 40k car

[tonyshetter]

Prices are still up in Texas and the banks aren't really doing good loans

[josephkelleher]

Brandon by not adding junk fees to your cars you should do very well in my opinion.

[MikeSTGL]

Good Luck Brandon and Caredge on this experiment !

[craigc]

Same crap different day, nothing around MA is falling, crashing, declining, closing, stopping, on fire etc etc.

[A_SingleSpeeder]

My wife and I were shopping for a new car late '22/early '23... Doing research, we discovered that even the hybrids didn't make sense for us personally. The extra $ just didn't make sense in the long run.

I did use what I learned in the videos to save an extra $1500 on a new Forester Touring in January of 2023.

[milesmartin]

The collaboration idea, should be a game changer! The transparency will be the best part about it!! Good stuff!!

[GeorgeParker-tzoe]

I used your bargaining tools and templates with excellent results. I bought a 2024 Toyota Highlander Platinum for $1, 000 less than your fair price suggestion! My first new car in 17 years and I’ve already sold my “old” FX-3r.

[LetMeStopYouRightThere-]

I really appreciate these video, I have learned a lot. I particularly like the car buying option, I avoid dealerships like the measles, and intend to use your service w/n the next year.