Car Market Update For New & Used Vehicles in 2024

Slides:

Wolf Street Article:

These 2023 Models Have the Most Remaining Inventory, and Highest Negotiability:

Never SAY THIS at Car Dealerships in 2024

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It's that time of the year again! Ray and Zach give a comprehensive overview of the state of the car market for new AND used vehicles, along with updates on average APRs and whether or not buying a car is worth it right now.

[hctim]

The price discrepancy is like gasoline prices. When Brent crude goes up, the next day the price at the gas station is up 10 cents/gallon. When the price of Brent goes down it takes a long long time for the price of gas to go down... 
They are milking the system for what it's worth..

[ronaldkolc]

It would be good if you could separate the EV’s from ICE vehicles in your analysis. Another would be to provide cost sectors ie under $30k, $30k to $40k, $40k to $50k and above.

[Ethans]

Bruh, the way your dad threw you under the bus in the first 10 seconds 😂

[bluetorque]

Love the content you both put out. It’s so essential in this market. My partner and friends frequently watch your content for car buying advice and market updates! Keep it coming!!

[matthewbeine]

You guys are one of the best new channels that I found my family and I are looking at upgrading our van your Market updates are so insightful thank you both and it's a great father son mix

[airbornesoldieramerica]

These 2 guys are the best. Been watching their channel for an year now. If I had to buy a car or truck every year I would go to these guys every time, and not give them a hard time, will not watch them like a hawk to see if they try to pull any fast ones like other sales men and women do etc....For me its impossible to find an honest sales person, on almost anything.

[ajbaums]

Dealers who purchased car last year at the higher values won’t want to negotiate as they want to avoid taking a loss. I’ve went to several local dealers and was the only customer on the lot and they were unwilling to move off of there price. I showed them the data (current trade value, retail and wholesale) they just tell me the price is where it needs to be for them to make a “slim” profit.

[ckleung]

Let's see who can hold out longest. Dealers can suck it!

[T-Bone]

Another GREAT video...I have been delaying my purchase for over !!!2YEARS!!! waiting for the car market crash that NEVER happened. My gold nugget takeaway from today was, because I hold my cars for a long time, was the recommendation to buy the 2023 vs 2024 as the better value.

[kilvarough]

I can't thank you guys enough for your tips and advice, you saved me lots of cash. Thank you! 😊

[billbrimmer]

Love the Father/Son Pairing. Great information, delivered at an easy pace to follow. Many thanks.

[qpxtinn]

In the Toronto and surrounding areas new car inventory is really down, and so is the used car inventory. And prices are still crazy. Now if you want to buy a large truck from the big three there are lots around. Especially if you want a black or white one. And the showrooms are empty so far this new year.

[ElfinHilon]

Was about to comment "Would love to see you guys do this every quarter" and then you said it! Loved it!

[deborah]

Just bought a Tahoe got 30, 000 for my 2017 truck. And used a Gm employee discount got 6 percent on loan I usually keep my veichle about at least 7 years.

[oscar]

Zach! Enjoy every moment and every minute of it, I grew up with out mine, your pops is special, lucky you

[ivnvz]

These guys kick butt. Love this channel and all the resources you provide!

[morebeer]

The greedy dealers are trying to outlast the consumers and still refuse to budge on outrageous used prices. They know the market is turning against them but they refuse to take any loses.

[Starship]

Wages and cost of living never catch up to each other cus of inflation, the hidden tax. We still have terribly high inflation

[PDK]

If everyone CAN, DONT BUY FOR A YEAR! At least.

If everyone stops buying they will have to bring pricing down a lot quicker!

[jeffmorse]

I bought a 2023 Hyundai Tucson Limited certified with 5, 000 miles on it last month. It was a courtesy vehicle at the dealership and didnt have any noticeable defects. The only thing was it didn't smell new ( had that rental car air freshner smell). With their certified program I got the full new car warranty. The sticker price was $37, 700. I got it for $30, 000. Its loaded too, leather, ventilated seats, Bose sound. Pano sunroof, etc... way nicer that any new 30K car (compacts, sub-compact crossovers). I'd never bought a used car before, but this has changed my mind about them. Oh, and I needed to buy - waiting wasn't an option.