Used Car Market Won't Recover Until 2025

In this video, we're sharing with you the shocking news that the used car market won't recover until 2025. Why? Prices of new and used cars seem to be fluctuating every day. You probably don’t want to hear this but, the car industry both new and used-vehicle markets, which has seen prices skyrocket in 2022, won’t recover for 3 years. The car insurance savings app Jerry, as well as other sources are saying that there are signs the used car market is headed back in the direction of normal. If you have additional questions, put them in the comments below and I'll be happy to answer. Thanks for subscribing.

Reference:

0:00 #usedcars Market Won't Recover Till 2025 #car
0:38 used car prices falling
1:40 chip shortage update
2:12 why is there a shortage @coxautomotive
2:51 New car incentives
4:09 Shortage of 1-3 year old cars
4:48 electric car price will increase
5:20 questions and comments

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#recession #inflation #news #interestrates

[ianbladuell]

I think at this point auto manufacturers and the chip makers are just playing a game and taking advantage of the consumer. There’s no way that now two years into covid they’re not able to ramp up the chips making 24 hours with more employees which will lead to more production from the auto makers. They have decided to just take their time with the production of the chips without incurring higher overtime expenses with the same staff and thus limiting the automakers as to how many vehicles they can produce. On the other hand these automakers are also taken advantage by limiting their production as well as not decreasing the prices because since the demand is high they’re just going to keep the prices where they are they don’t have to offer rebates or discount and the consumer is stuck paying a higher price which when things come back to normal they’re gonna be so upside down it’s not even funny. I expect a lot of repos next year in 2023 because consumers will go ahead and start not paying on those cars that are so far under in inequity and just pick up a new model and keep going. Dealers at the same time are not having that many employees anymore like in the past and they’re just marking up the cars to make up for the fact that they don’t have the volume of vehicles to sell. This is just a game against the consumer that they’re not gonna win for good while.

[tc]

This is the first I've heard that the used car market won't "return" until years from now... everyone including other YouTube channels have been saying used car market prices will be dropping as early as next year

[joshuab]

Regarding that info about people choosing to buy as their lease-end option, it's so true. I did that myself last september. Lease buyout was $13, 800 on a 2019 Camry. I had 25k miles after the 3 years and could sell my car for over $20k right now.

[dennisdewinter]

Your videos are so informative. You’re the best. Thank you!

[rolfkoseck]

Just got out of a VW meeting. For the foreseeable future, starting next month(Jan 23), they do not have sufficient parts to assemble AWD vehicles. So, only FWD's will be produced. In my market, Michigan, that's an issue.

[RonnieGreher]

Planning to keep driving my car for a while. Loan will be satisfied in August, mileage just under 40K, I drive around 5K miles a year. 2017 Honda Civic EX. Just enough tech, including  CarPlay to make it enjoyable. Only issue is the AC quit early last summer and I didn’t get it addressed. The thought of buying a new or used car at a dealer, with so many bogus fees, makes me cringe

[ougadir]

What about the very low demand due to high interest rates and consumers sentiment to hold and wait? Car companies will have to incentivize consumers to spend. Car Wholesale prices are in a downward path as of 12/22

[roymarksberry]

Times are going to get really hard in the next 24 months

[axelbart]

Great information, this is another scam including oem. Banking and insurance. Also are transportation systems is mostly cars and trucks, always follow the $$

[joecovey]

Always informative. We or more accurately I might be in the market for a used vehicle to drive as a daily later next year so I can keep the mileage and wear and tear off the Hellcat we own as I believe they will go up in value and don't want to give it up, still love it. I thought the market would soften more than you're describing based on interest rates going up and the economy getting worse. Guess we'll see as time goes on.

[actualfacts]

I will keep my Camry forever solves that problem.

[roymarksberry]

24 months ago it was 2% for a car loan now it's 11%

[scottfarley]

Do you recommend a car broker? We are not mentally equipped to go to battle on a 2022 or 2021 Lexus RX?

Thanks for your help.

[rjsledz]

I really would like you to make a program about cars that are worthy and that are helpful to buy. In other words cars that will stretch the test of time like up to 300, 000 miles I really think that would be a lot helpful especially when you're buying say a Toyota Camry that's maybe 5 years old. Those are the things we really are looking at as consumers

[everyonesguy]

Got a Honda Civic (98) with 40k on it, I live in Toronto Ontario do u think I can drive it for years to come ?

[idrissaadamu]

Hi ma'am. For how long do you suggest I wait to get a fair deal? 2023 or 2024?

[Wranglerf]

To me prices to high people holding on to cars as long as they can

[chadgilkison]

When do you think the best time to buy a 2022 Buick Enclave? This month or wait until next year sometime?

[shineon]

Hi there Lauren, Thank You for all you do, for so many. The info that you provide is greatly appreciated, more than you could know. For what it's worth, you've gained a new Sub and a Like today. (we'll get you that Coffee next time around... promise.)

I have a question for you Lauren: (please understand that I'm coming from a point of ignorance.) Since the Auto Market has become... schizophrenic, as of late, how might this affect the market for older, collectible vehicle values? I ask because I recently inherited a 37 year old Pontiac from my Father's estate and have decided to sell it, but now wonder what I should consider now, with this crazy market?

Thank You, in advance, for any information that you might be able to provide. Again, Thank You for being here. Keep Smiling... Cheers...

[JB-mkry]

It's "'til". A till is something you put money in.