The Toyota Corolla is a small car that many people buy because it's dependable and doesn't use a lot of gas. It's been around for a long time and is popular because it's affordable and easy to drive.
Carvana is a company where you can buy and sell cars online. They make it easy to find a car without having to negotiate prices like at traditional dealerships.
No-haggle pricing means the price you see for a car is the price you pay, with no room for negotiation. This makes buying a car easier because you don't have to argue about the price.
The used car market is where people buy and sell cars that have been previously owned. It can get busy at certain times of the year, especially when people get tax refunds and want to buy cars.
Tax return season is when people file their taxes and often get money back from the government. Many people use this money to buy things like cars, which can make car sales go up during this time.
The spring selling season is when more people buy cars because they have extra money from tax refunds and the weather is nicer. This can make car prices go up.
Used car values are how much people are willing to pay for cars that have been owned before. These prices can change a lot depending on how many people want to buy or sell cars at any given time.
CarEdge is a service that helps you see how much your car is worth and how its value might change over time. It’s useful for people who want to sell or trade in their cars.
The Subaru Outback is a type of vehicle that is good for both everyday driving and outdoor adventures. It has four-wheel drive, which helps it handle rough roads and bad weather better than regular cars.
The VIN is like a social security number for cars. It's a special code that helps identify a specific vehicle and can tell you details about it, like where it was made and what model it is.
Carfax is a service that gives you a report on a car's history. It tells you if the car has been in accidents, how many owners it had, and other important details that help you decide if you want to buy it.
Market conditions are about how many cars are available and how many people want to buy them. If there are lots of buyers and few cars, prices can go up. If there are many cars and few buyers, prices might go down.
Inventory turnover is how fast a car dealership sells its cars. If they sell cars quickly, it means people want to buy them. If they take a long time to sell, it might mean fewer people are interested.
Depreciation is how much a car's value goes down as it gets older. When you buy a car, it usually loses value quickly, especially in the first few years. This is important to know if you're thinking about selling it later.
All-wheel drive means that all four wheels of the car get power from the engine at the same time. This helps the car grip the road better, especially in rain or snow.
The Ford Maverick is a small truck that is easy on the wallet and great for everyday tasks. It can carry things in the back like a regular truck but is smaller and more affordable, making it a good choice for many people.
The Ford Escape is a small SUV that gives you more room than a regular car, making it great for families or people who need to carry more stuff. It's comfortable to drive and has features that make it easy to use.
The Suzuki Sidekick is a small SUV that was made by Suzuki. It's known for being compact and good for both city driving and off-road adventures.
LIVE
Dear Savvy, Toyota says you can have it all, with the Camry, the Corolla, and the Corolla
Cross.
You've got the tech, you've got the drive, and you've got Toyota value that spells affordable.
You ready?
Find yours at Toyota.com.
Toyota, let's go places.
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It's noon here in Ventner City, New Jersey, and New York, New York.
And this is Car Edge Live for Thursday, January 29th with your host, me, Ray here in Frigid
Ventner and Zach, well, in Frigid, New York.
I hate to say it, but apparently we're the Frigid twins.
How are you?
That doesn't sound right.
How are you today, handsome?
I'm doing well.
Thanks, Pop.
Hopefully, the audio is okay.
Let me know in the comments down below.
Carvana just got caught.
That's what we're going to be talking about today, and we'll do a little bit of the used
car market update as well.
First things first, today's show is brought to you by caredge.com, a friendly reminder
that for the past six years, my dad and I have been working on caredge.com.
If you're in the market to buy a newer used car or you want to save some money on a warranty
or insurance, check out caredge.com.
We offer a car buying service that takes care of research, dealer outreach, and even negotiation.
We learn what matters to you.
Contact dealers and compare real offers to help you get the best deal.
Check it out.
Back at caredge.com.
Dad, the big story this morning.
Before you start, may I say that this morning, you and I spent a few minutes with a couple
of hosts at WGN TV in Chicago on their morning show discussing car buying strategies.
I just wanted to compliment you on what a wonderful job you did and what a pleasure it
was to hang out with those good folks in Chicago this morning.
I thought it was one of my dad's best media performances ever.
He was really funny and witty like he always is and gave a ton of great advice.
We will have that clip up here on the caredge live channel as soon as we get it.
What an honor to be on WGN.
We've already gotten so many messages from people who saw us this morning that it's been
really sweet, really, really, really cool to see.
Yes, thank you to WGN for having us and again, a tremendous honor and a privilege.
It's all because everyone tunes in here and supports our business that we get to do these
things, really, really cool.
The big story this morning, dad, Carvana shares plummet 14% after a report by a short
seller, this organization called Gotham.
Now, here's the deal, dad.
This show is not financial advice.
We are not providing today any insights into the stock market and things like that.
That's neither my expertise nor my father's.
This channel is all about the car market, car buying and things that go on in the auto
industry and this report, dad, from Gotham is damning to say the least.
Let's start here.
Do a little table setting here, dad.
Why do we have, we had Hindenburg Research last year, which has disbanded.
We have this organization now come out with this report.
Why are these companies going after Carvana?
I'm going to lead with, it's probably because there's no other car dealership group out
there that's ever been worth $80 billion, but Carvana is.
Why are folks going after Carvana here, dad?
I can't get into the minds of others as to why they do things.
My suspicion would be, and this is merely a suspicion and my opinion only, my suspicion
would be is that when you look at the trajectory of Carvana and how they lost money for years
and years and years and years and were three years ago near bankruptcy, the stock was trading
I don't know, $3 a share or less.
There were many people who predicted that because of their, the amount of debt that
they had taken on to buy Odessa and other things, that they were doomed and yet somehow
they have risen like a phoenix from the ashes and they have grown their stock, I don't know
what is it, $450 a share or something like that today and my suspicion is that there
are those who probably believe that there is some accounting hocus pocus going on and
that's why they would be looking into it, I believe.
Yeah, but if I made that, I'm going to take a pretty strong stance here.
The reason that people take this hard look and sharp look at Carvana is because they
make three times the amount of gross profit per vehicle sold than any other car dealership
group in the world.
That is also the proxy for why their stock price has done so well.
See, the core of this, the real core is that Carvana has found a way that no other company
has found to make three times as much money.
They make over $5,000 per used vehicle sold, the average used vehicle gross profit that
keep me honest here, right now it's like what, $1,500, maybe $2,000 if you're lucky.
They did something that no one else has been able to figure out.
That's why I think they get the scrutiny they get and which if they got caught today by
this Gotham, we're going to show some of the information here in just a second what they
got caught doing, but that's the crux of it.
Well, when you realize prior to figuring out the secret sauce that their profits, their
profit per vehicle sold was lower than anyone else's in the industry that were publicly
reported that it is, yes, it becomes hard to fathom that a company that languished for
years with average profit per vehicle sold of $1,250 or so could suddenly figure out how
to get that number into the $6,000 range.
Which we clear is a bit of like a warning for consumers, like if you're going to buy
a car from Carvana, which everyone knows this, you go to CarMax, you go to Carvana, you are
paying a premium because you're getting a differentiated experience, you're getting
an experience where as a customer you are not having to negotiate.
Hey, the CarEdge team was here, they're going to put bags down, is that cool?
Yeah, that's fine.
Guys, come put your bags down.
You can say hi to everyone on the live stream too if you want.
Go for it, go for it.
They're going to put bags down, but we're going to continue here.
So that's the big...
You can put bags down, you're good.
So that's the big story, Dad, but let's actually pull up the article here.
We're going to see a bunch of people behind me in a second.
Say hi.
Everyone shy.
Everyone shy.
Yeah.
Yeah.
You're at intermission while we're live on YouTube.
There's justice in real life in the flesh.
There's Jeremy.
Hey, is anyone wanting to meet Jeremy?
There he is.
We're working to pull up the article here.
Yeah, we've got people here in New York today.
We're going to pull up the article here, Dad.
The big story is very clearly this, which is drive time, Caravana, and then another
company, Bridgecrest, are all owned by the same people.
And who are those people pops?
Would that be the Garcia's?
That would be the Garcia family.
And what's interesting here is when you start to look at the relationship between these
three companies, Zia Justice, Zia Phil, when you start to look at the relationship between
these three companies, you could leave it open.
That's fine.
Yep.
When you look at the relationship between these three companies, you've just got money
moving around.
So for example here, Gotham published financial statements that showed the operations of privately
held sister company drive time automotive burns through a billion dollars in cash over
2003 and 2024 coinciding with the transformation and profitability of Caravana.
Interestingly, Dad, you continue to look down here a little bit further.
Wait for it.
Wait for it.
Wait for it.
Historically loss making Caravana turned profitable in 2023 and generated 1.4 billion
in adjusted earnings before interest appreciation and amortization in 2024.
So in the same year that they made 1.4 billion, the other sister company lost an additional
billion dollars.
That's the first little yellow flag here.
Yeah.
You think?
I don't...
You might call it yellow.
I believe Gotham would call it red.
And yeah, it is amazing to me.
The numbers games that can be played when you control all three of the entities involved
and you can take something from one entity, ship it over to the other to show that entity
being profitable while you're taking a loss from the first entity.
It is, I guess, a perfect example of how to utilize IRS tools to minimize taxes due and
to make things look better or worse for whatever particular company you want them to look better
or worse for.
Yeah.
I don't think it's so much about IRS rules and taxes that I think it's financial engineering.
Here's another example here.
You've got Gotham reporting.
So Carvan is a company, Drive times a company.
There's a third Garcia controlled company called Bridgecrest.
They are the ones that administer loans that they offer to customers.
These are those things that are then packaged and sold to financial investors according to
the drive time disclosures.
Now look at this step.
Gotham highlighted in its report that in 2024, Drivetime financed the cash outflows from
its business by issuing debt which rose by $800 million during 2024 to $4.3 billion.
So again, you've got Carvana becoming profitable to the tune of $1.2 billion.
You've got additional debt structures and financing maneuvers.
This is what gets a little bit nerve wracking for those of us that look at this company
and say like, is this sustainable?
And again, the reason they have this scrutiny is the fact that they make more money than
any other company on these vehicles.
Now it's starting to become a little bit more clear if what Gotham has presented, which
to be clear, this is not financial advice to me and my dad are not forensic accountants.
We're just reporting on what comes out in the news and sharing our two cents on it.
If this is true, then Carvana is making a lot of money on these cars, but it may not
actually be so expensive for the customer because where they're making the money is
on the financial engineering, the loan repackaging, the selling of that stuff.
It just makes me scrutinize Carvana a little bit more, dad, when I see a report like this.
How do I say this?
I have always had my suspicions about Carvana and those suspicions were based on when they
were overpaying for cars and then their average gross profit per used vehicle sold was about
$1,250.
And suddenly they figured out a way to literally, I don't know if it was the third quarter or
second quarter of last year, where the average profit per vehicle sold the way they accounted
for it was over $6,000 and I don't know how you go from being the worst used car operator
as far as profit per vehicle sold to the absolute best world class standing profit per vehicle
sold that Carvana suddenly did.
And my suspicion has always been that they didn't and that you can't and that you don't
and that you can make it appear as if when you use, I don't know, non-conventional accounting
ways to account for money in my opinion, okay?
This is strictly my opinion and so I've always been suspicious of a company that never made
a profit, had one profitable quarter in its entire history, bought a Tesla, took on billions
upon billions of dollars a debt, nearly died through bankruptcy and then suddenly figured
out something that no one else in the history of the automobile industry has been able to
figure out the way they have it.
It's a question for you, Dad.
Let's bring this back to, if I'm a car shopper, this influence your decision to work with
Carvana.
When you see these things come out and they may make you question a little bit how they
are able to accomplish what they're able to accomplish, should that change people's perspectives
on selling a car to Carvana, buying a car from Carvana, what do you think there?
If their checks are good and they're willing to pay more for your car than anyone else,
then sell your car to them.
If you prefer the sales practices at Carvana to your local used car dealer or new car dealership
where the price is the price and it's very simple and it's very easy and basically just
about everybody can get a loan because their loan standards are that if you make $5,000
a year, you can qualify for a loan through them.
If you prefer that shopping experience until this ever really collapses, then do business with them.
If you have suspicions about what it is that you're buying from them or how much you have
to pay what it is that you're buying from them and pay for it, then buy all means go somewhere else.
I want to pull up a comment, Dan. In your opinions as Carvana, a reputable source
to use when negotiating a car trade-in, absolutely. I think to be very clear here,
if you're going to trade in a vehicle, you're buying in your car and you're going to trade in
your car or you're just going to sell a car, our advice has always been and stays the same,
get multiple quotes from multiple people and see who's going to pay the most. To be clear,
the person or the company who should pay the most will most likely be, if you own a Toyota,
for example, your local Toyota dealer is going to be the one that's going to pay up the most
because they can certify it, potentially they can sell it at their lot, etc. Getting a Carvana
quote, a CarMax quote, Sonic Automotive has Echo Park, getting those quotes is easier than ever
before. Even amidst all of this, Carvana getting caught. As far as Gotham is concerned,
they did get caught. As far as the Financial Times is concerned, they did get caught.
You should still think about selling your car to them, absolutely. Buying a car from them?
I think that's a little bit more questionable, only in part because there's all the data that
they put out there to their investors saying, we make more money than anyone else. As a customer,
why am I going to want to choose to shop from the business that makes the most money? To be
clear, they have a very differentiated customer experience, which is also why, to be clear,
we charge $999 for our car buying service at CarEdge. You get a very different experience.
It's a premium price point, a premium experience. As a business owner, I can see it from both sides,
but just a P burns question, good to go. Absolutely use their quotes for your leverage.
Let me ask you a silly question. When you had your Volvo S90, who offered the most for it when
you went to sell it? Carvana. I've sold a car to Carvana. Yes, there's an article on our website.
There's YouTube videos documenting the whole experience of selling a car to Carvana. It was
easy. I have the utmost respect for the people who have built that business, the operators of
that business, because selling a car has never been easier than selling at the Carvana. CarMax
has also done an incredible job as well. They've made it so that I can just, done, done. It's
incredible what they've been able to deliver. In our opinion, use Carvana to get quotes for
your car so you have a better understanding of what your vehicle could be worth in your
market area, because you have to realize that every part of the country is different. What value
gets ascribed to a car in Phoenix could be significantly higher than what gets ascribed to
a car in Buffalo, New York. There could be any number of reasons for that, but whether would
be one of them, because one vehicle would be subjected to salt on the roads in the winter,
and the other would be subjected to, well, sunshine basically on a daily basis.
You have to know what the market is in your area. One of the best ways to do that is
utilize the online quotes that you can get from Echo Park or CarMax or Carvana,
and use that as a tool to get the most for your car from the dealer, where you might be trying to
trade it in at. Now, we also have back at caredge.com slash sell. You can get some offers there as
well. Now, let's turn our attention to the other side of both Carvana and CarMax, as in quite
frankly all car dealers' businesses, which is selling used cars. We talked about this a couple
weeks ago. CarMax promises price relief for used car customers. I'd actually, if you're up for it,
I love doing this. Let's do a little bit of a live experiment here. Let's find a vehicle for
sale over on Carvana.com, and let's look at the market conditions to see if they are priced fairly.
We could also do the same thing here for Carvana. As we begin doing this, I will pull up. We have
the latest mid-January manhine, which is the used car auction report, and this shows that used
vehicle prices actually have ticked up a little bit. We are starting to see used car prices tick
back up, which is concerning, to say the least, because used car prices are not affordable right
now. They continue to be sky-high. I'd appreciate your commentary here, Dad. As you're doing that,
I'll head over to Carvana. I think what we're seeing on the used car side of things, especially at
the auctions, we keep hearing from the administration that income tax returns are going to be the
highest they've ever been. If that is actually the case, then many, many used car dealers out
there need to load up their lots for tax return season. That is one of the busiest times of the
year in the used car market, in the used car business, so that dealers are now fighting to
get their hands on the used cars that they're going to need the end of February. Why do I say
the end of February? Because that's when people will start seeing those oversized income tax returns
that they can utilize as either total cash for a cash purchase of a used car,
or a sizable down payment on ones that they want to finance. We're getting ready to enter into the
spring selling season and used car tax-inflated selling season. That's why we're seeing the
used car values pick up at the auctions presently. It is quite a juxtaposition because just three
weeks ago, again, CarMax coming out and saying, we're going to have to lower prices because we're
not selling as many cars as we want. Three weeks later, now the end of January, we're seeing used
car prices at the wholesale auction scale, which to be clear in all of this, there's much more
volatility in seasonality in used car pricing than new car pricing because of these different
seasonal factors right now. I would also posit your trade-in value is going to be fairly
volatile over the next few weeks here. We obviously get all sorts of emails from the
various companies tracking our vehicle value. I use CarEdge, our vehicle projection to also
keep track of vehicle value. There are all sorts of different ways to keep tabs on this,
but let's do a live experiment here because we started with Carvanus. We'll start here.
What used vehicle should we do this market analysis for? Where and what vehicle do you think?
Let's do a Subaru Outback and let's do it somewhere in the northeast of the Mid-Atlantic.
We want to go in the northeast. I got to verify that I'm human. I am indeed.
You are. I can verify that.
Okay. I'm just going to use a zip code I know from Maryland. Give me a second here.
All right. We've got Subaru Outback's first sale. This is outside of Washington, DC in
Maryland. You want to do a relatively new one, an older one. What do you think?
Um, let's do like a 2021, 2022, something like that.
Okay. We've got here. We're going to go to this one right here.
So we've got a 2022. Whoops. Let's try clicking on it again. Okay. There we go.
We have a 2022 Subaru Outback with 73,709 miles for 24,990 bucks. All right. So what I want to
do here is I want to find the Vin, which I know they don't make easy. Where did they put the Vin?
Well, it would be on the Carfax report.
Vehicle details. View all features and specs. Give me a second. Come on. Specs, Vin. There we go.
And now I'm going to come over here, Dad. I'm going to go to Car Edge.
Yes.
I'm going to do Shop Used.
Yes.
I'm going to do Vin. Okay. So here's that same vehicle over on Car Edge. And the reason I came
over to Car Edge is I want to see a couple of things. I want to see the market conditions.
Five days on market. Wow. They turned their inventory over fast, man. This is brand new.
Yes.
There are only two others for sale within 100 miles.
Yeah. I would think you would have limited leverage on something like that.
So they're at 24,9 and just looking at this, it's hard to say if that's a good or a bad price
because there's just not enough market comes.
Well, it's a four-year-old vehicle with 74,000 miles on it. That vehicle, I'm guessing, when it
was brand new being a touring, it looks like it has the leather interior. So I'm guessing it was
40, $42,000 somewhere in that range. You would think it should have depreciated more than
the $15,000 to $18,000. But stuporers do tend to retain a high percentage or a higher percentage
of their original values than many other brands do.
Yeah. It is interesting though, the one other data point I'll reference here
is we do have back on the Car Edge website that Target deal range, which is using
some of the market conditions to inform what a reasonable discount would be.
I wouldn't be surprised though, Deb, because Carvano obviously does not negotiate.
I wouldn't be surprised if this vehicle sits for 15 days, 30 days, 45 days. This would be the type
of discounting you would see them do because they're trying to get rid of it. Let's hear one more
example from them because I'm simply curious how long they've had other vehicles on their lot
for sale. So that was this 2022. Let's do this 2022 over here, a wilderness that only has 20,000,
19,000 miles on it. Okay. And I'm purely curious. Oops. Oh gosh. Vehicle details. There we go.
Under specs. Only one key on this one, so keep that in mind.
Keys are expensive. These are expensive. Shop used.
Vin, enter that in right there. Keys aren't so expensive that the key replacement policies that
you can buy in the finance office shouldn't be, say, $1,195, but they are expensive.
Vin not found. That means that it's going to show up tomorrow. They just listed that today.
There you have it. This is a little bit why Carvano is able to price what they're able to.
I mean, people buy their stuff quickly. Actually, wait, bear with me for a second because now what
I want to do is instead of that Vin search, I'm just going to go make model and we were doing
what? 2020. Gross point in Michigan. That's a long way away.
Here, I can update my zip code over here, 208.95. And what was that? That was a Subaru. Yeah.
Outback. I don't need to do nationwide. What was it within 100 miles? And we said 2022.
Yeah, I believe that's what it was. The reason I'm doing this is I now just want to look at
a normal car dealer, 42 days on market, 35 days on market. Here's CarMax said,
only 13 days on market. And the reason I picked the Subaru and in the Northeast
was because of the time of year we are, in fact, that it's an all-wheel drive vehicle,
and that vehicle would, say, be in higher demand here than, say, if we were in Austin,
Texas or Albuquerque, New Mexico. That's a great point. All right, so actually,
sorry, now I'm just kind of having fun here. Let's look at where we used to live, 85254.
That's Scottsdale, Arizona. Yes. 65 days on market. Wow, that is so cool of that.
Look at that. Look at the days on market, 65, 146, 184. You are so spot on.
And that's why I say you have to know your local market conditions. And yeah,
to me, it makes perfect sense. You're going to pay a premium for an all-wheel drive vehicle in the
Northeast in the winter when it's snowy than you would in the Southwest where it's sunny.
It's just, you have to know your market. All right, one more story that I want to cover today,
Dad, which is this, and it's a big one unrelated to the Carvana stuff, but Fed leaves interest
rates unchanged as dealers face auto affordability challenge. So we have not seen, this was like
remember you and I would be interviewed last year about car affordability and people were
saying, well, will interest rates make them more affordable? And we've done obviously all the
experiments. It's like, you know, if you take a percentage point off the APR, it's not that much
more affordable. What do you make of this, that the Fed leaving Fed funds rate unchanged,
the expectation that that will make vehicles more affordable does not seem to be coming true,
at least not yet? Well, the dealers hoped that they would see a reduction in APRs for both new
and used cars to help offset the fact that the cars are too pricey to begin with. What it would
indicate to me is if the vehicles are basically unaffordable for a large percentage of their
customers that are coming in, well, they can't rely on interest rates to impact that. So now they
have to rely on reducing the price of the vehicles to impact that or figuring out a way to scrape
more money from the customer as cashed down in order to impact it. This whole fallacy that
you know, the Fed reducing rates is going to make overpriced cars more affordable is ridiculous.
We prove that if there's a 25 basis point drop or a half a percent point drop that the way it
impacts the payment, it's negligible. It's five to $10 a month. So, you know, if $575 a month
isn't affordable, well, guess what? Neither is $565 or $570. So this idea that they were going
to confront the affordability issue with lower interest rates is just a false idea. It's not
reality. What has to happen if they're serious about it? And we hear talk, but we don't see
actions. We hear talk. What has to happen is they have to lower prices and they have to make
less expensive cars more readily available. And so far, I don't see that happening and I don't
think it will happen. Jeep has lowered their prices. You can't deny it. It's not overpriced.
I hear you, but you said you haven't seen it. We have seen automakers do year-over-year MSRP
drops. We've seen automakers. Jeep said, for example, get rid of a version of their vehicle,
the grand wagon here. So we are seeing action. I do think it's going to take a significant amount
of time. We also saw Toyota come out with that rendering yesterday, dad, for supposedly what
will be a more cheap vehicle, an SUV or a pickup truck that will like to compete with Ford Maverick.
So we are seeing things. It's going to take a long time. And this is actually a perfect moment to do
another live experiment, which would be drumroll, please. How much leftover inventory is still out
there? So instead of searching for new shocker, there are no new 2022 super outbacks for sale
nationwide right now. Let's do nationwide. What I want to look at here, dad, is how many left over
24s, 23s are still out there, 25s too. I mean, this number is slowly but surely going down.
This number had been a million at the beginning of the year. So dealers are selling through the
prior model year inventory. Again, what I've done here is I'd set the year filter to anything
prior to 2025, meaning leftovers. And so as leftover inventory gets sold, that gives the dealer an
opportunity to replace it with new inventory from the manufacturer, which they've said are going to
be more of the more affordable vehicles. Ford's doing great with the Ford Maverick. So they're
going to bring more Ford Mavericks at the same time they get rid of the escape. So you know,
but I do think it will take a little bit of time here. And yeah, interest rates are not,
the area where interest rates will show up is more subventive. So 0.9%, 1.9% financing from the
manufacturer. We'll have to just on our table compile the February deals. I bet you there's
going to be a bunch of 0% financing offers for each inventory that hasn't sold.
And trust me, it wasn't the dealers who were concerned with it as much as the manufacturers
are because they're the ones that are underwriting those programs. And so if interest rates had
dropped, the cost of taking it from 5% to 0% would have gone down to some degree. So the fact that
it's not, the cost for the manufacturer to underwrite that program is remaining the same.
I hate when I sigh like this, but I keep saying the same stuff over and over and over again.
These manufacturers have to stop abandoning their customers who would still like to be able to buy
new cars. And I get to a degree why they've abandoned them because they figured out that
they can make a tidy profit of selling 15.8 million to 16.2 million new cars a year
to the 15% of the population that can afford to participate and doesn't mind spending 70,
80, 90, 100,000 dollars per vehicle. But the rest of us are struggling when it comes to being able
to afford a new car. And I know you disagree with me when I say this, but I think it has
everything to do with the way vehicles are marketed as opposed to not, I mean, if they marketed
small cars to make them seem cool, then people wouldn't buy them as opposed to
convincing Americans that they need these big SSUVs and pickup trucks when perhaps maybe they
really don't. Today's show is brought to you by caredge.com. Carsight show you fake prices. We'll
get you the real one. For those of you again that are unfamiliar, my dad and I for six years now
with an incredible team, many of which you met earlier on the show when they walked behind me,
we provide car buying services. We take care of dealer outreach, negotiation. We learn what matters
to you, contact dealers, get your real offers and compare them. Please take advantage of what we
have to offer back at caredge.com. We all are offering a bit of a promotion at the moment and
I'm going to be very clear here. You can learn more about why me and my dad do this, what we're
passionate about and so much more back on the website caredge.com. Again, we were on WGN this
morning. We are doing a media tour, it seems like that every week on some more local news stations,
which we're so grateful for. I want to be very clear that is only possible because people
support us here on YouTube. I think the reason people support us here on YouTube is because
they find what we do to be educational and valuable and sometimes funny too. A tremendous
thanks to everyone that's watched today's program. We'll be back tomorrow with more
Car Edge Live. I'll be here in New York. I can't wait to get another show in the books,
but yeah, just really grateful. I'm feeling really grateful this morning, pops.
Me too. Yesterday, I did an hour podcast with a financial planner in northern New Jersey and
tonight at six o'clock, I have an hour podcast to do with a gentleman on Long Island for one of
the local public radio stations in Long Island reviewing sales tactics at the worships.
Love that, man. Love that. Hey, thanks for runners for this. We appreciate it to be fair.
I want to Suzuki Jimmy in the US. You too. I would buy one of those. That'd be pretty sick,
but I moved from Atlantic City, New Jersey to Chandler, Arizona, and drove cross-country
with my wife, your mother, and two cats in a Suzuki sidekick for goodness sake.
All right. Let's take a peek. What does a Suzuki sidekick look like?
It's not very big, and we had the Suzuki sidekick convertible.
Yeah, there you have it. Is your cross-country in that?
Yes, yes, and I can tell you when a tractor trailer on an interstate passes you at like
75 miles an hour in that little thing. Oh, it was white knuckle time, buddy.
And the cats, we gave the cats sedatives every day, so they just laid down in their
kitty litter and fell asleep, but it was quite the adventure.
Crazy, man. All right, we're back tomorrow, folks, with more Car Edge Live. Please subscribe to the
channel if you found today's show interesting and compelling. I love you, Pops, and I'll see you again
tomorrow. I love you as well, and thank you, everybody, for being here, and we'll be back
tomorrow at noon Eastern, I promise. If you liked the show, please take a moment to rate,
review, and subscribe. It really does help the show to grow. Thank you for listening.
About this episode
Carvana faces scrutiny after a report from Gotham reveals questionable financial practices, leading to a 14% drop in its stock price. The hosts discuss the implications for consumers considering buying or selling cars through Carvana, emphasizing the importance of comparing quotes from multiple sources. They also touch on the current used car market trends, including rising prices and the impact of tax season on vehicle sales. The episode features lively discussions, insights on car buying strategies, and a live market analysis of used vehicles.
Today on CarEdge Live, Ray and Zach discuss the latest news on Carvana. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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