Don't Buy a Vehicle Until 2025!

Wait until 2025 to buy your next car or truck. Patience will serve to your benefit... I assure you. Inventory levels continue to skyrocket, and dealers will have NO CHOICE but to slash prices even more and offer incentivized interest rates.

Don’t buy a car until 2025… Point I discuss in this video:

1. Inventory levels are through the roof, they’ll only get higher… they’ll be forcing their 23 and 2024 models out come Feb/Mar. 2.84m… 2.21m… 1.32m
2. Repos are shooting up still… used market is being saturated too. Plummeting prices.
3. Interest rates have got to give… after the election, the hope would be to see some lessening to rates.
4. Expect a large discount AND incentivized rate.
5. If dealers want to stay in business, they’ll have no choice but to cut their losses and move their inventory. Floor plan costs will soon become unbearable for most dealers.
6. Building rapport with customers will suddenly become more important than stretching sales.

1. Start your vehicle search far away… then work your way closer to your local area. Continue to ask dealers to beat the previous offer… get in writing.
2. Although tricker, same can be done with Trade Ins… just have a dozen or more detailed photos of the interior and exterior.
3. Work deals over the phone… don’t drive there. Your time is valuable.
4. When asked if you’re financing or paying cash, say you’re undecided until you negotiate a deal. THEN reveal that card.
5. Don’t fall victim to inflated protection packages and extended warranties.
6. Always walk away.
7. Pro Tip: ask if they have any inbound
8. You’re in the driver seat. Patience will only help you.

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[micker]

Don't wait until 2025, wait until you NEED a new car. That means your current one is unfixable and or dead. Buying a car is a huge financial loss, only do it when absolutely needed. Not because you are bored of your car. Fixing a car, is way way cheaper than buying a new one.

[josephkelleher]

Cars still way overpriced. They are now unaffordable for over 80 percent of Americans. I say keep your current car and maintain for as long as you can. No reason to go in the poor house for a depreciating liability.

[leejeffers]

Forget the phone calls. Do all dealership correspondence through email or text messaging. This way you have EVERYTHING discussed and agreed upon in writing. I always ask upfront what my OTD (out the door price) is for the new vehicle. Never mention upfront that you will have a trade. Only mention the trade AFTER you receive your OTD price in writing. Always get your financing pre-approved with your own lender and ask the dealership if they can beat your bank's quoted finance rate. Seriously consider selling your trade in vehicle to Carmax. My last two car deals I got a much better price for my used vehicle by selling it directly to Carmax. By eliminating a trade in you are simplifying your new vehicle negotiations and lessening the opportunity for the dealership to screw you over during the transaction. Most importantly...don't be afraid to walk away if the dealership is playing games.

[bluedevil]

Bought a ‘24 4Runner TRD ORP last month for discount below MSRP. No more vehicle purchases for me for 20 years or so. Couldn’t be happier with the truck.

[ScroggerDave]

I have no problem laughing at salesmen and leaving. Dealerships only trap those who let them.

[tome]

I guess it was meant to be. I’ve been on the hunt for a new ride and you pop up with this. 😂

[JT-olxo]

These are great tips, and I highly recommend your point about contacting multiple dealerships via email to get the best deals and work them against each other. I did this years ago, which got me a great deal on my purchase. When I had the deal in writing that another dealer had offered, I asked if they could beat this. And they did.

[armen]

I like those tips, and yea once your in that dealership at the little cubicle, it seems like they have you. Especially if you really want the vehicle.

[deepbludude]

63 never bought a new vehicle did buy a new Honda XL500 it was an 82 model bought in 1983 for 1500 drove it for years those days are long gone Ive got 4 trucks newest is 1989 F250 IDI still running strong under 100kmiles.

[bmacaulay]

Buy now, buy next year, not overly important. If you want to save money deal directly with the internet department or if the store has a fleet manager deal with him. Get a drive out price via email. As a 30 year car guy there was nothing we hated as sales managers more than a internet or fleet deal. Those departments give away cars (relatively speaking). Next year is not going to all of a sudden have cars half off. If you need a car buy a car, but most people don't "need" a car right now. Regardless of all that don't just walk in and start your shopping. That will get you the runaround BS "let me go talk to the manager" treatment.

[UtahNick]

I tried to trade my Jeep Wrangler for a Gladiator. I told them the only del I would accept is 15% off MSRP and they eat my $6K negative equity. Then also give me the 2.9% APR. They said NO. I walked. They have 50+ Gladiators on the lot. I said call me when you are desperate enough to make a deal and I will want more at that time.

[rocinblues]

Excellent approach, if you are financing. One thing if paying cash right now, you can be a an unapologetic buyer regarding price and trade-in value of your vehicle (don't be a jerk), and be firm. Salesmen (most) have taken advantage of so many people that in "LEAN" times they'll eat a lot of crow and take "A LOT" less cash to make that sale. In these lean times, salesmen/managers are like an outdoor guard dog that didn't get fed yesterday and really don't want you to say "NO" thanks and go down the street.

[flpete]

I agree, waiting another 3 months to get better inventory, lower APR, better MSRP negotiations, Manf discounts

[justinstiff]

He gives great advice that unfortunately I had to learn the hard way over the years over many deals. First brand new vehicle in 2008 I was so shocked that I could even get it that I didn't care about all that other stuff

[timrussell]

I have been shopping for a ‘24 or ‘25 Passport Black Edition. Refreshed ‘26 due out first qtr ‘25. I have shopped a 500 mile radius from ATL. I have shopped used with less than 5k miles. Asking prices are about 10% off MSRP. I decided to shop new the end of last month (and will try again this month), dealers will not go less than 10%, even on the ‘24s on the lot. That means the used ones are too close in price to new ones. Yes, there are some new offers greater than 10% off MSRP but the dealer adds offset the discount.

[waynewallace]

I was in a dealership negotiating my Passport while also texting with another dealership who wanted to make a deal. It was funny how nervous the dealership that I was at became. They were almost in a panic to make a deal as they heard the texts coming in on my phone.

[markmelendez]

Went to the dealership to buy a oil filter for my 21 tundra $6 not bad. Walked the show room floor. Fully load Camry 48k and Corrolla 44k. No way

[Funner-xtmv]

Exellent advice! I would add that if the sales associate starts playing power games don't be afraid to request someone else.

[segiv]

That’s true. Dealerships are desperate to sell. Every time I go to Toyota for a simple maintenance with my 2024 4Runner, I get a few representative trying to convince me to trade-in and get a new vehicle. I am sticking to my trustee 4Runner.

[geo]

What about the hurricane replacement cars affecting increase in demand driving prices up?