The Car Market is CHANGING! | Should You Buy New or Used in 2023?

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Ray and Zach explain why buying new might be a better option than buying used in this car market, completely upending the conventional wisdom of the industry!

[anthonydelarosa]

We got offered a used 2021 Mazda cx30 with 28, 000 miles for $27, 999. We ended up buying a New 2023 CX30 for $26, 600

[rustyschackleford]

In my recent experience, a 2 year old used car with 30K miles was $2k less than a new one. To me, it makes sense to buy new today and trade-in in a couple years.

[chrisg]

Man, I miss the days when you could buy a 3 - 5 year old Honda/Toyota with under 45, 000miles for under $12, 000 ALL DAY LONG.

[robertfrost]

I have always bought new for one simple reason. I want to control the initial maintenance procedures on my vehicle. The life of the vehicle is quality maintenance. There is much more to costs of ownership than the initial price.

[MonteD]

Best value is to keep whatever you have in good shape.

[alcoyot]

10 year old car with 100k miles on is 18k. The new one is msrp 23k. But the biggest advantage to a new car imo is the entire fate is in your hands, instead of having to deal with god knows what the previous owner did.
Like cvt needs a lot of maintenance for example

[troyleegilbert]

The market can't force people to "afford" any of these vehicles. The MSRP needs to correct in order to correct the used car prices. 5-10% off from a 50% increase isnt gonna cut it.

[JimSamuel]

I totaled my 2016 Toyota Corolla three weeks ago. The insurance payout was $2000 more than I paid for the car in 2018, when I bought it used.

[jcchaconjr]

There's a few reasons why I'm leaning toward buying a new car. As noted, the used car market is inflated, so the "value" on off-lease cars is affected by the lack of inventory... Another thing going against me is that the vehicle I'm interested in was just refreshed last year, so there even LESS inventory available for me to choose from (never mind that reviews of the '22 model aren't that great, while the '23 reviews reflect improvements on said criticisms). So, I honestly see better value in buying new this time around. Of course, I'm going to fight for the best deal possible using tips learned on this channel, and if used car prices kind of stretch out the way they are, maybe I'll get better value down the line as a trade-in - especially if I have an opportunity to improve upon what will probably be not so great financing terms for this purchase, despite my excellent credit. Totally hoping for the Fed to cut interest rates somewhat in the next 2-3 years.

[resengan]

When i was shopping around 2 to 3 year old vehicles were only 5k cheaper than their new counterparts. Thats only a year of payments in discount in the entry levels models (civic mazda3 camry forte). I almost miss when manufactures were making those 1.2 liter subcompact hatches

[sshady]

There are NO better values right now NEW or USED! I'll keep what I have!!

[SpeedisSpeed]

I like the high truck prices it makes not buying one an easy decision

[egillogly]

Thank you so much for this video. It was super helpful!!

[alcoyot]

I feel like with new cars that are supppsed to be 20-25k. The end price somehow makes it’s way up to 40+ at the dealer with everything involved. That’s why I avoid them. The shipping fee is usually not even included.

[MrMgbuffett]

They're not wrong. We spent months looking for a used honda or toyota van (less than 5 years old). Most used vans on the lot were former rental cars, and you could see/ smell the abuse. If you were going to get a decent used van the price wasn't much cheaper than new. Interest rates for excellent credit car loans are 7 percent. Honda had a 3.9 percent interest rate for the odyssey we bought new. Plus, you get a pretty good warranty, free oil changes and tire rotations for two years, and you know the history. It just made sense for us.

[TyGoCrazy]

I’m looking to buy a 2023 Integra after my car just got totaled I’m tryna figure out new or used, price basically same

[MegVanAbi]

I noticed this phenomenon and my husband thought I was nuts when I suggested getting a new car instead of used. Not buying till the summer so we’ll assess again then to see what makes sense.

[Femititi]

wow thanks Guys! This was great I learned alot

[KimikoMaui]

Hey how much do u charge to negotiate a good price for buyers in hawaii but wanting to buy in California and ship it. Thank u for all your help

[martyi]

Carvana's used car values are still strong, i had a quote recently on one my used vehicles and i was pleasantly surprised the quote was similar to what i paid for it last year (No depreciation)