2025 Used Car Market UPDATE

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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 discuss the latest data on the used car market. Tune in to learn more!

[tdz]

Two things we can always count on here on YouTube. Scotty Kilmer is always announcing R.I.P. and Zach is always Dealing with a headache on the video thumbnails. Lol. All jokes aside, great info as always!

[DarrellBright-vxke]

I too have tried to buy new and used Toyota's, all Highlanders, but one dealer on a new one wanted $2500 over sticker plus the add on's, another wouldn't even return my call, and a third would sell at sticker, though all were on vehicles that were in production and not yet on the lot. All of these vehicles were from 150 to 350 miles away. I looked at two used vehicles, both 2021's and one dealer was stuck on the sticker price and the other was willing to bargain but only slightly, not at all like in the pre-covid days. I keep watching youtube videos about repossessions and folks who are walking away from high payments but the predicted lower used car prices are not happening, at least in the mid-south. In fact, most of the car dealerships are placing the used cars in front of the lot in prime selling space because they are apparently making more money selling used cars than new. The closest Toyota dealer had seven new models the other day and they were all parked in the back of the dealership and some were pre-sold. That being said, I also visited Lexis, Acura, and Nissan dealers with so many cars on their lots, that they had to move some of their inventory to the adjacent streets, to open fields, or to the curbing each day, just to be able to allow access to their lot. I don't see how dealers are staying in business with so much inventory on their lots and yet refusing to deal.

[madaamstier]

I recently picked up a used jeep but shopped for a used/new rav, used/new 4 runner. and used jeeps and spent about a month talking to dealers finding nobody wanted to make a deal. Whatever was posted on their website thats what it stayed at. Nobody wanted to move away from that price point.

[snipe-won]

I feel like Zach dies a little inside every time his dad calls him handsome lol 😂

[BigEd]

Probably 40% of the pickup sales are commercial sales, not retail.

[LuisGrullon-ochh]

Love the comparison, thank you and the team!

[tman]

We purchased a 2018 cpo GMC Canyon in 2018 for $36, 000. In 2022 we sold it back to the dealer for $34, 000 due to the car shortage. Turned around and leased the same exact truck but a 2022. Since it was the last year of that body style they were not selling and got a great deal on a new one.

[VetBodGaming]

I did notice with the used cars the 3-5 year old low mileage used seem to finally be slowly coming down in price while the 1-2 year old aren't budging. I did always agree with Ray that at best we'd see the low mileage late model used cars start to recover by next year and a full recovery in 3 years at the earliest.

It's been 4 years that I've been shopping for a 3/4 ton Truck and I'm not budging until the manufacturers start discounting a significant amount.

[azucena]

Do y'all still have drones flying around out in NJ??

[briangriffin-irnk]

Last new car purchase was 24 Corolla for commuter car and the previous one was 23 rav4. 2 previous vehicles were Toyota’s as well. Was a ford buyer for 25 years. So glad I switched.

[JA-zhxi]

The pick truck sales are why people have $1000+/month payments and why most Americans live paycheck to paycheck.

[smooser]

You can add to the list people buying out their leases because they were worth way more than their buyout.. my wife bought out her Volkswagen Tiguan for 14000 while it was worth 24

[SKLIFEstyle]

I thought Ray was cold, but Zach has two coats on... 🤔😆 Hope the heat comes back soon big guy. Great show as always.

[veelowmuymalo]

I was going to buy my Nissan lease out March of '22 and the dealership offered me $2, 500 to walk away from the lease. We agreed on $3K

[BrandonSutton-vvyx]

You know what would be great, if we could somehow add your concierge servies charge into the finance deal for the vehicle. Like that would be amazing to not have to come out the pocket if you're financing or have the equity in the vehicle you're trading in.

[john_nip_nop]

Fewer recent used cars at dealers (are all dealers included?) - Ray is correct on the first two reasons, but missed the third. 1. Gap in number of manufactured vehicles during the disruption - check. 2. Fewer lease returns - check. 3. Is a big one - people are keeping cars and trucks longer. Many people know that their 7 or 8 year old (paid-for) machine is better (more reliable) than the new (or 1, 2, 3 year old) over-teched, super-trimmed crap (from nearly all brands.) Unless the old one is driven into the ground or rusted out, better to stay with it. They really DON'T make them like they used to, Zach, so yes - the new ones are the plastic crappies. Anyway, the new junk is way too expensive to afford. The quality falling off the cliff is a moot point.

[FunPHYSICZ]

Last Month, I purchased my 48-month leased 2021 GMC Sierra with 51, 000 miles on it from GMAC for $32, 400. I immediately sold it to Carmax for $40, 500. (Carvana offered me $40, 000). I made $8100.

[RyanBlockb]

If Stallantis has discounts.... deep discounts. I might consider their cars.

[richardsracingmad]

If you want anything “lumpy” used like a Range Rover or anything big engine, ..fly to the UK and import it. Car Tax ( annual tax to use the road) and compulsory Insurance to drive it, is getting out of hand cost wise. Therefore, the lumpy stuff does look cheap.
I wouldn’t mind a Cayenne or Tourareg, same car different badge

[breckfreeride]

Told yall it would finally come... Im starting to see tremor 150s, 2 or 3 years old, with leased mileage 20 to 30k off msrp... Actually attainable. I bet it keeps going or even accelerates.