{"version":"1.0.0","episode":{"title":"Auto Industry SHOCKED As Used Car Prices SKYROCKET | Episode 1043","url":"http://getcarcurious.com/episodes/auto-industry-shocked-as-used-car-prices-skyrocket-episode-1043","audioUrl":"https://pdrl.fm/3359a6/pscrb.fm/rss/p/mgln.ai/e/1385/injector.simplecastaudio.com/14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9/episodes/0ffcba98-93bc-4411-9a52-5c04faf01c1d/audio/128/default.mp3?aid=rss_feed&awCollectionId=14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9&awEpisodeId=0ffcba98-93bc-4411-9a52-5c04faf01c1d&feed=gkrQ6WSC","description":"Today on CarEdge Live, Ray and Zach discuss the latest used car market update. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com\nfor information about our collection and use of personal data for\nadvertising.\n"},"annotations":[{"startTime":20.6,"endTime":27.4,"type":"concept","title":"used car prices are skyrocketing","url":"/glossary/used-car-prices-are-skyrocketing","quote":"The auto industry and car shoppers are shocked because used car prices are skyrocketing.","canonicalId":"concept:used-car-prices-are-skyrocketing","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"This refers to a broad market shift where the average prices paid for used vehicles rise rapidly. When used prices jump, it can affect trade-in values, financing affordability, and how aggressively shoppers should negotiate.","simplifiedExplanation":"Used car prices going up fast means the same used cars cost a lot more than they used to. That can make it harder to find a good deal and can change what your trade-in is worth."}},{"startTime":32.8,"endTime":52.7,"type":"company","title":"CarEdge.com","url":"/glossary/caredge-com","quote":"Today's show is brought to you by CarEdge.com. For those of you that are unfamiliar for the past, what is it now that's six years?","canonicalId":"company:caredge-com","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"CarEdge.com is a car-buying service that coordinates with dealers on a shopper’s behalf. The idea is to reduce negotiation stress by collecting what matters to you and comparing offers from multiple dealers.","simplifiedExplanation":"CarEdge.com helps you buy a car by working with dealerships for you. Instead of you doing all the back-and-forth, they try to line up offers so you can get a better deal with less hassle."}},{"startTime":37.8,"endTime":52.7,"type":"concept","title":"car buying service","url":"/glossary/car-buying-service","quote":"We've been offering a car buying service back at CarEdge.com. We will reach out to dealers for you and even negotiate.","canonicalId":"concept:car-buying-service","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A car buying service typically gathers your preferences, contacts multiple dealers, and negotiates or compiles offers to help you purchase at a better price. It’s meant to streamline the process and reduce the time and uncertainty of dealership negotiations.","simplifiedExplanation":"A car buying service is like a middleman that helps you find and negotiate a car deal. You tell them what you want, and they work with dealers so you don’t have to do all the negotiating yourself."}},{"startTime":70.2,"endTime":79.08,"type":"car","title":"Hyundai Elantra","url":"/cars/hyundai/elantra","image":"https://upload.wikimedia.org/wikipedia/commons/6/6d/2017_Hyundai_Elantra%2C_Windsor%2C_Ontario%2C_2025-07-01.jpg","quote":"We just got an OTT back for a Hyundai Elantra that has $1,412 price lower than the prior OTT price.","canonicalId":"car:hyundai:elantra","priority":0.5,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The Hyundai Elantra is a compact sedan that’s commonly used as a benchmark in pricing discussions because it’s widely sold and often has many dealer listings. In this segment, it’s used to illustrate that CarEdge is tracking and comparing out-the-door offers.","simplifiedExplanation":"The Hyundai Elantra is a popular compact car. Here it’s mentioned as an example of a deal where the total “out-the-door” price came back lower than before.","imageAttribution":"Crisco 1492 (CC BY-SA 4.0)"}},{"startTime":272.4,"endTime":282.2,"type":"term","title":"clean title","url":"/glossary/clean-title","quote":"Dad, this vehicle has 29,000 miles on it. One owner, clean title, literally just got listed today.","canonicalId":"term:clean-title","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “clean title” means the vehicle is not branded as salvage, rebuilt, or otherwise legally flagged for major damage. Clean-title cars typically sell for more than similar cars with branded titles.","simplifiedExplanation":"A clean title means the car’s paperwork doesn’t show major damage history. Cars with clean titles usually cost more because they’re considered lower risk."}},{"startTime":330.4,"endTime":338.8,"type":"concept","title":"CPO vehicle","url":"/glossary/cpo-vehicle","quote":"2024 Chevrolet Silverado 1500. Very low mileage CPO vehicle, but we're asking $46,5 on it.","canonicalId":"concept:cpo-vehicle","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"CPO stands for “Certified Pre-Owned.” It typically means the vehicle has passed an inspection and may come with extended coverage beyond the original warranty, which can justify a higher asking price.","simplifiedExplanation":"CPO means the dealer (or manufacturer) certified the used car after an inspection. It often includes extra warranty coverage, so it costs more than a regular used car."}},{"startTime":338.8,"endTime":343.74,"type":"concept","title":"full-size trucks","url":"/glossary/full-size-trucks","quote":"So, these use car prices, and we're looking at full-size trucks right there. Those are insanely high.","canonicalId":"concept:full-size-trucks","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Full-size trucks (like the Toyota Tundra and Chevrolet Silverado 1500) tend to have strong demand because they’re useful for towing, hauling, and everyday driving. When supply is tight or demand is high, these models often see larger price increases than smaller segments.","simplifiedExplanation":"Full-size trucks are the big pickups people buy for work or towing. When the market gets expensive, these trucks often get hit hardest because lots of people want them."}},{"startTime":372.8,"endTime":387.8,"type":"concept","title":"low mileage used car","url":"/glossary/low-mileage-used-car","quote":"Let's move it to our used car inventory and see if we can bring somebody in for as an extremely low mileage used car. You know, I used to work at a mini dealership.","canonicalId":"concept:low-mileage-used-car","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “low mileage used car” is a pre-owned vehicle with relatively few miles, often close to new condition. Dealers may use this label to justify pricing that stays high compared with typical used-car depreciation.","simplifiedExplanation":"A low-mileage used car is a car that doesn’t have many miles on it. Dealers use that to keep the price closer to what a new one would cost."}},{"startTime":407.8,"endTime":419.5,"type":"concept","title":"full-size cars","url":"/glossary/full-size-cars","quote":"One of the categories of vehicle that we're seeing the biggest increase in price would be full-size cars, okay?","canonicalId":"concept:full-size-cars","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Full-size” refers to larger vehicle classes, typically with bigger dimensions and often higher pricing. The host is highlighting that full-size cars are seeing some of the biggest used-price increases, which is unusual given how many buyers expect larger vehicles to depreciate.","simplifiedExplanation":"“Full-size” just means a bigger, roomier category of car. They’re saying these bigger cars are getting more expensive on the used market."}},{"startTime":458.4,"endTime":473.6,"type":"term","title":"asking price","url":"/glossary/asking-price","quote":"I'm going to zoom in on it. You're asking more than original MSRP.","canonicalId":"term:asking-price","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The “asking price” is what a seller lists the vehicle for before negotiation. The host contrasts asking prices against MSRP to demonstrate that sellers are holding firm even when the car is no longer new."}},{"startTime":473.6,"endTime":482.0,"type":"term","title":"big hemi engine","url":"/glossary/big-hemi-engine","quote":"Well, is that because it's got the big hemi engine in it? I mean, exactly, but still this is indicative of how crazy things are.","canonicalId":"term:big-hemi-engine","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “Hemi” refers to Chrysler’s hemispherical combustion-chamber engine design, commonly associated with higher-performance versions of their muscle cars. The host is implying the Charger Scat Pack’s engine is a major reason it holds value and commands a premium.","simplifiedExplanation":"“Hemi” is a nickname for a high-performance engine design. In this case, it helps explain why the car is popular and stays expensive."}},{"startTime":487.3,"endTime":495.9,"type":"term","title":"11,891 miles","url":"/glossary/11-891-miles","quote":"2025 Honda Civic Si. All right, we've got 11,891 miles on it. What do you think this is going for as a used car?","canonicalId":"term:11-891-miles","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Mileage is one of the biggest factors that normally drives used-car pricing—lower mileage usually means a higher price. Here, the host highlights a specific mileage figure to show how little the car’s value has dropped despite being used.","simplifiedExplanation":"Miles matter because they affect wear and tear. They’re pointing out the car doesn’t have many miles, yet the price is still surprisingly high."}},{"startTime":515.8,"endTime":519.82,"type":"term","title":"SI","quote":"There's some just craziness. Again, some of these, this is an SI. That was a scat pack, so you take it with a grain of salt,","canonicalId":"term:si","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Si” is Honda’s sport trim designation for the Civic, typically positioned below the Type R but above the standard models. The host mentions “this is an SI” to explain why demand (and therefore used pricing) can be higher than a regular Civic."}},{"startTime":566.0,"endTime":579.9,"type":"concept","title":"dealer markup","url":"/glossary/dealer-markup","quote":"Even though a Honda Civic Si might be around $32,000 new, if they're in relatively short supply, the Honda dealer is going to add an additional dealer markup, going to add all their dealer-installed nonsense, and that $32,000 car will suddenly become a $40,000 car.","canonicalId":"concept:dealer-markup","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Dealer markup is the extra amount a dealership adds on top of a vehicle’s base price. It often stacks with “dealer-installed” add-ons, which can push a car’s out-the-door price far above MSRP.","simplifiedExplanation":"A dealer markup is extra money the dealership adds to the price. Sometimes they also add extra stuff you didn’t ask for, and that makes the final price jump."}},{"startTime":652.0,"endTime":660.7,"type":"concept","title":"appreciated in value","url":"/glossary/appreciated-in-value","quote":"According to Blackbook data, full-size pickup trucks once again appreciated in value last week faster than other trucks...","canonicalId":"concept:appreciated-in-value","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Appreciated in value” means the market price of used vehicles increased over a short period. This segment connects that rise to broader economic pressures like fuel costs and dealer inventory costs.","simplifiedExplanation":"It means used trucks got more expensive recently. The market is moving upward, not downward."}},{"startTime":652.0,"endTime":660.7,"type":"concept","title":"Blackbook data","url":"/glossary/blackbook-data","quote":"According to Blackbook data, full-size pickup trucks once again appreciated in value last week faster than other trucks, which we just crossed the Rubicon nationally for $4 a gallon gasoline.","canonicalId":"concept:blackbook-data","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Black Book is a pricing and valuation service used in the automotive industry to track wholesale and retail trends. When the speaker cites Blackbook data, they’re referencing market analytics that show how certain vehicle categories are appreciating.","simplifiedExplanation":"Black Book is a company that helps estimate car values using market data. They’re using it to show that truck prices are rising faster than other vehicles."}},{"startTime":669.3,"endTime":678.2,"type":"concept","title":"gasoline prices","url":"/glossary/gasoline-prices","quote":"for $4 a gallon gasoline. On a national average, it's over $4 a gallon now. It's just hard for me to fathom that as gasoline prices continue to go up...","canonicalId":"concept:gasoline-prices","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Gasoline prices affect demand for different vehicle types, especially fuel-intensive categories like full-size trucks. The speaker argues that even as gas gets more expensive, dealers still see strong pricing power in those segments."}},{"startTime":1011.8,"endTime":1017.2,"type":"concept","title":"day one depreciation","url":"/glossary/day-one-depreciation","quote":"...Big Horn loses 40% day one. It should. Nearly not. Apparently not.","canonicalId":"concept:day-one-depreciation","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Day one” depreciation is the immediate value drop that happens right after a new car is purchased and driven off the lot. The host claims the Big Horn “loses 40% day one,” highlighting how buyers often expect a steep first-year hit—though the market can change that outcome."}},{"startTime":1347.4,"endTime":1351.8,"type":"concept","title":"depreciate very little","url":"/glossary/depreciate-very-little","quote":"...This thing has the only depreciated a couple thousand bucks over four years.","canonicalId":"concept:depreciate-very-little","priority":0.5,"confidence":0.86,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Depreciate very little” means the vehicle’s value drops slowly over time. In used-car pricing discussions, slow depreciation is a sign of strong demand and limited supply of desirable configurations."}},{"startTime":1351.8,"endTime":1367.0,"type":"concept","title":"cult like following","url":"/glossary/cult-like-following","quote":"...there is this unbelievably strong niche market, a cult like following for Jeep Wranglers...","canonicalId":"concept:cult-like-following","priority":0.5,"confidence":0.84,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “cult-like following” describes a dedicated enthusiast base that creates steady demand for certain models. For vehicles like the Jeep Wrangler, that loyalty can reduce depreciation because buyers actively seek them out for off-roading and customization.","simplifiedExplanation":"Some cars have fans who really love them and keep buying them. That kind of loyal fanbase can keep resale prices higher than you’d expect."}},{"startTime":1351.8,"endTime":1367.0,"type":"concept","title":"niche market","url":"/glossary/niche-market","quote":"...there is this unbelievably strong niche market, a cult like following for Jeep Wranglers...","canonicalId":"concept:niche-market","priority":0.5,"confidence":0.82,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A niche market is a smaller segment of buyers with specific tastes and needs. In this case, the Wrangler’s niche (off-road capability and customization) helps it maintain demand and resale value compared with more mainstream vehicles.","simplifiedExplanation":"A niche market means only a certain type of buyer really wants that vehicle. If enough people want it for the same reasons, prices can stay strong."}},{"startTime":1367.0,"endTime":1393.5,"type":"concept","title":"project car","url":"/glossary/project-car","quote":"...there are people out there that A, love the challenge of doing that, and B, just in on the whole thing, let's go. Let's make it happen. I don't care that it's 20 years old and beat the crap.","canonicalId":"concept:project-car","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “project car” is a vehicle bought with the intention of repairing, restoring, or modifying it over time. The speaker notes that some Wrangler buyers like the challenge of rebuilding older vehicles, which can keep demand alive even for cars that need major work."}},{"startTime":1434.8,"endTime":1440.9,"type":"term","title":"tire patch","url":"/glossary/tire-patch","quote":"It turned out there was a screw in the tire. Okay. For $38, I had the screw remove, a patch put in, tire rematter, and we're good to go.","canonicalId":"term:tire-patch","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A tire patch is a repair method used to seal a puncture from the inside of the tire. In this case, it was used after removing a screw, which is a common fix when the damage is in a repairable area.","simplifiedExplanation":"A tire patch is how a shop seals a puncture so the tire can be used safely again. It’s often used when the hole is small and repairable."}},{"startTime":1487.6,"endTime":1496.3,"type":"concept","title":"detailing","url":"/glossary/detailing","quote":"Well, people used to say to me, well, should I detail my car before I bring it in? You could. I'm going to end up detailing it anyway, so what the hell difference does it make?","canonicalId":"concept:detailing","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Detailing is a thorough cleaning process (often including interior and exterior) to improve appearance. The segment suggests that a cleaner car can increase trade-in value, but it’s not as important as avoiding major warning lights like the check engine light.","simplifiedExplanation":"Detailing is a deep cleaning to make the car look nicer. It can help your trade-in offer a little, but it won’t outweigh bigger issues like warning lights."}},{"startTime":1530.5,"endTime":1550.7,"type":"concept","title":"dealer inspection expectations for older cars","url":"/glossary/dealer-inspection-expectations-for-older-cars","quote":"So it just depends. I mean, it's an 11-year-old car. I'm trying to break out of just that specific one to more generalized advice about it. If you're looking to trade in a 10, 12-year-old car, the dealer isn't really expecting it to be pristine.","canonicalId":"concept:dealer-inspection-expectations-for-older-cars","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The discussion highlights that dealers don’t expect older vehicles to be “pristine,” since wear and imperfect condition are normal. That affects how much minor issues (like a tire pressure warning) should impact the trade-in decision.","simplifiedExplanation":"The point is that if your car is older, the dealer expects it to show some wear. So small problems may not hurt the offer as much as you might think."}},{"startTime":1666.5,"endTime":1670.0,"type":"company","title":"Carvana","url":"/glossary/carvana","quote":"It's not like you called up your local Subaru dealership and said, hey, I'm thinking about selling my [1666.5s] Subaru. Would you offer me more than CarMax? Odds are they probably would. Or Carvana.","canonicalId":"company:carvana","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Carvana is an online-first used-car retailer that also buys cars from consumers. Mentioning Carvana alongside CarMax highlights that multiple large buyers can set strong market prices when demand is high.","simplifiedExplanation":"Carvana is another big used-car company that buys cars from you and sells them online. The point is that these companies can offer competitive prices when the market is hot."}},{"startTime":1738.9,"endTime":1748.0,"type":"concept","title":"OTD offer","url":"/glossary/otd-offer","quote":"We can see that we have a negotiation going on. We can see we just got an OTD offer received on a 2017\nDodge Charger here.","canonicalId":"concept:otd-offer","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“OTD” stands for “out-the-door,” meaning the total price you’d pay to take the car home, including taxes and most required fees. When a dealer gives an OTD offer, it’s meant to be a more apples-to-apples number than just the sticker price or monthly payment.","simplifiedExplanation":"OTD means “out-the-door price.” It’s the total amount you pay to actually get the car, not just the base price. It usually includes things like taxes and required fees."}}],"speakers":[{"id":"s1","name":"Ray","role":"host"},{"id":"s2","name":"Zach Shefska","role":"host"},{"id":"s3","name":"Bleav","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/auto-industry-shocked-as-used-car-prices-skyrocket-episode-1043/transcript.vtt","type":"text/vtt"}]}