The Hyundai Genesis is a fancy car that feels very comfortable and has a lot of nice features. It's made by Hyundai and is meant to compete with other luxury cars that are usually more expensive.
A buyers market is when there are more cars for sale than people wanting to buy them. This usually means prices go down, and buyers can get better deals.
Honda is another popular car company from Japan. They make a wide range of vehicles, including cars and motorcycles, and are known for their reliability and good fuel economy.
Porsche is a luxury car brand from Germany that makes high-performance sports cars and SUVs. They are known for their speed and quality, especially models like the 911.
Dodge is a car brand from the United States that makes a variety of vehicles, including powerful muscle cars. They are known for their bold designs and performance.
The Lincoln Navigator is a big, fancy SUV that has a lot of space and nice features. It's known for being expensive, but people like it because it feels luxurious and comfortable.
The Lincoln Corsair is a smaller luxury SUV from Lincoln, focusing on comfort and modern features. It's a good option for those wanting a luxury vehicle without the size of a larger SUV.
The Lincoln Aviator is a fancy SUV made by Lincoln. It's designed to be comfortable and has a lot of nice features, making it a good option for those looking for a luxury vehicle.
The Jeep Grand Wagoneer is a big, fancy SUV that can go off-road. It has a lot of space inside and comes with many high-end features, making it great for families or trips.
Dealer markup is when a car dealer charges more than the price suggested by the manufacturer. This often happens when a car is popular and in short supply.
The BMW X3 is a small luxury SUV that offers a good mix of comfort and performance. It's a popular choice for families and individuals who want a stylish vehicle.
The Mazda CX-70 is a small SUV that is fun to drive and useful for everyday tasks. It's a good choice for people who want a mix of sportiness and practicality.
The chip shortage is when there aren't enough computer chips available for making cars. This has caused many car manufacturers to struggle to produce new vehicles, leading to fewer cars for sale.
The Cadillac XT5 is a stylish SUV that is designed to be comfortable and luxurious. It's popular among people who want a nice car that can also carry a lot of stuff, but some think it needs new features since it hasn't changed much in a while.
The Mazda CX-50 is a new type of compact SUV that looks cool and is fun to drive. It's designed for people who want a car that can handle both city driving and outdoor adventures.
The Mazda CX-5 is a type of car called a crossover SUV, which means it's a mix between a car and an SUV. It's popular because it looks nice, drives well, and has enough space for families or people who need to carry stuff.
LIVE
Happy Holidays! Want to give your host a gift? Consider subscribing, rating, and reviewing the show this holiday season. It really helps the show grow. From all of us at Believe, have a Merry Christmas everyone, and a Happy Holiday!
It's noon here in Ventner City, New Jersey, and our nation's capital, Washington, D.C., and this is Carage LIVE for Friday, October 17th with your hosts, me, Ray, here in Ventner City, and Zach. Well, ride this bike in his apartment. I don't think he's going to get very far, ladies and gentlemen. How are you today, handsome?
Happy Friday! I'm doing fantastic, Dad. Grateful to be back home here in Washington, D.C. I want to let everyone know, caredge.com, baby. Congratulations to the team. We've got the updated website. If you haven't checked it out, you need to do yourself a favor and go there. Check out caredge.com.
Car sites show you fake prices. We'll get you the real one. And on the car buying service page, you can meet our concierge team as well as book your free consultation to see if it's a good fit. Please, folks, check out all the work we've done back at caredge.com to try and help you even more as you navigate the car buying process.
Look at all these beautiful faces, man. So many people here dedicated with decades of experience to help you buy your next car. Go for it, Dad. Then we got to jump into the data.
Not a problem, but I wanted to pitch you on a new segment for the show. You know how yesterday and the day before we did on the couch with caredge. Well, I think what we should do is we should set up like a psychiatrist's office, and we should have caredge customers who are having issues with buying a car come in, lay down on the couch, and, well, Dr. Red.
Today in Dr. Zach, we could ask them questions and try and help them through whatever dilemmas they're having. It would be a whole new segment of caredge on the couch.
All right, folks, let us know in the comments and in the live chat if you want to see car shrink come to the theater near you. Now, Dad, the big, big, big story, we got a crash that's looming. I'm calling it right here right now.
We have seen over the past few years a more than 100% increase in the amount of new vehicle inventory available and days supply of inventory available in the new car market. You're looking at, and we're going to review the latest data we have for the month of September.
New vehicle inventory increased in September, Dad. We're back up to almost three million new cars in dealer inventory, which is up significantly, and an 84 days supply of inventory here in the United States.
These numbers are up significantly month over month and year over year. They are the first sign I see of a potential car market crash, a reset of sorts, because as we've discussed all week, prices keep going up, but inventory doesn't sell. Eventually, you have a reset in pricing.
One would think you either have a reset in pricing or you have closures of dealerships and manufacturers going out of business.
Listen, we have not to pat ourselves in the back, but we have been champions of this for the longest time. Five years ago, we announced that we thought that there was an affordability crisis when it came to automobiles.
Somehow, some way, 15, 16 million new cars get sold every year. 30 million used cars get sold every year, but the number of sales seems somewhat stagnant when you compare it to the growth of the population.
We seem to be swimming in a shallower and shallower pool of customers. At a certain point, as inventory grows and it's growing again, and my suspicion is that it will eke past three million, the day supply will continue to go up.
There's very few manufacturers below 100 days.
After you get to it, I want to really dive in on that day's supply piece, because it's the highest it's been this year, which is huge, especially because of the timing going into the end of the year. Sorry for cutting you off.
Well, that's okay, especially considering the fact that sales have been up quarter over quarter over quarter for the first three quarters of the year.
In the first and second quarters, it was due to pull-ahead sales because of tariffs, and in the third quarter, it was due to pull-ahead sales in EVs.
What's it going to be in the fourth quarter, folks?
Where are the sales going to come from in the fourth quarter? And if they come at all, at what cost will they come?
And what cost?
The increase in incentive spends for manufacturers. So it'll be interesting.
Yeah, look at this here, Pops. I'm going to pull up the data back on the screen. We're at 84 days supply. It's the highest point we've seen since the first quarter of this year.
It's up 7.2% month over month. When we talk about an 84 days supply, what that means is that it would take 84 days to sell all the new car inventory in the United States of America based on the current sales rate with how much inventory is out there right now.
And just for a point of perspective here, we're down memory lane. We're in March of 2023. This is what the market looked like.
So just like two and a half years ago, we had fewer than 2 million new cars available for sale in March of 2023.
We had a 57 days supply of inventory. And when you think about those numbers, that is a seller's market.
Sub 60 days supply of inventory, that means that they have all the pricing power in the world.
When you're in an environment where you have an 84 days supply of inventory or to your point that many manufacturers have over a 100 days supply of inventory and we'll start here, Lincoln.
If you're a Lincoln dealer, it's hard to even fit it on the screen. 142 days supply of inventory. That is the sound of a crash for Lincoln dealers.
And we know, Dad, there are some Lincoln dealers out there that have been holding on to new cars for prior model years.
I mean, well over a year. And I know the chat's covering it, so I'm going to remove it for a second.
Lincoln Ram, 137 days supply.
Many 126 days supply Jeep, 118 Ford, 113.
To your point, Dad, there are well over a dozen automakers, including Audi, well, Audi's at 97, excuse me.
Mazda, Acura, Hyundai, Nissan, Mitsubishi, Volkswagen, Genesis, Land Rover, Buick, Chrysler Ford Jeep, many Ram Lincoln all have over a 100 days supply of inventory.
That is buyers market territory. That means they have too many cars and not enough people buying them.
It seems to me, you know, I haven't really done the math, but it seems to me that there are more manufacturers with 100 day plus supply of automobiles than there are manufacturers with less than 100.
You know, and there's only a handful that have really honed in on the proper inventory supply.
And they would be Toyota, Lexus, Honda, you know, Porsche, okay, it's not a major, major seller, but, you know, they've figured it out.
Dodge, that's an anomaly.
Well, Dodge is up-producing a lot of their vehicles.
Well, yeah, that's why it's an anomaly.
You know, they overproduced and oftentimes had one of the largest day supply of vehicles.
And now they've cut out vehicles altogether, shied away from their EV introductions, canceled them.
So it's, most of these manufacturers are in some kind of trouble.
Yeah, they absolutely are. And the more that we look at the data, the more it paints that picture.
Now, let's come to the car edge machine and let's do a little bit of some live experimentation here.
I've got us looking for Lincoln's, which are the brand that have the highest day supply of inventory in the United States right now in Scottsdale, Arizona.
Lovely town.
Lovely, lovely, lovely town.
141 days. Oh my gosh, look at the price points.
I guess the navigator I can kind of understand, but still.
$86,000 for a black label Nautilus stat.
It's been sitting at Sanderson, Lincoln and Phoenix for 141 days.
This Lincoln Corsair, 368 days, 229 days, 90 days.
These vehicles, 226 days.
These vehicles, if you're a customer, Dad.
Yes.
Are the ones that if you've been waiting for a while to buy that new Lincoln Aviator, for example.
Now's the time to really highly consider making a move on it because this vehicle's been sitting for a long, long time.
And that means, 208 days, and that means the dealership is motivated to get off of it because they know they need to.
They know they're not selling.
And if I go down to incentives, 0% financing for 36 months, 3.2% effective money factor on the lease.
I mean, that's pretty good.
This is Lincoln showing up a little bit to try and get this vehicle sold.
Yeah, whether or not that's enough to get it sold.
Saying to your Lincoln customer, you're going to have to put up with a $2,000 plus a month car payment for 36 months if you want the 0% interest.
It is, you know, we were kind of sort of joking about it.
Yesterday when we were talking about the wagon ears, the Jeep wagon ears and the Grand wagon ears and how they've lowered the price on some of the models by $23,000.
And even a $23,000, it's still a $62,000 vehicle.
And that is $12,000 above the average MSRP today.
So it is, we were talking about stupid prices, stupid high prices for a smaller group of people who can buy.
And it just, maybe I'm really dumb.
You know, maybe I just think the simpler things are, the better.
But maybe if we decided to attract more than 13 to 15% of the public into buying cars, new cars,
and we expanded who we were trying to sell cars to because we've significantly lowered the price and we've populated the pricing out there with cars in the $20,000 to $40,000 range,
maybe just maybe.
I hear you, pops, but that's not the point of today's show.
The point of today's show is we haven't done that.
And so what are the ramifications?
It looks like we're not going to do that.
Yeah, so I hear you.
And we spend four out of the five days a week talking about what it should be.
Let's talk about what the reality is, which is we are headed into the best time of year to buy a new car.
That is, I mean, you can't argue that the fourth quarter is the absolute best time of year.
It's the best quarter, end of the month, end of the year.
And these brands are all looking in a situation that is dramatically different than it was at the beginning of this year and most certainly different than it was a few years ago.
All of these brands to the right of that green line.
And heck, Dad, even if I'm shove away with an 81 days supply, that's higher than I want it to be.
I much preferred the days.
Again, let's do the trip down memory lane.
You want to see what this market looked like back in March of 2023?
Wait for it.
That's just two and a half years ago.
Yeah, Dad, shove away two and a half years ago.
It looks like about a 53 days supply of inventory.
Sellers market two and a half years ago, buyers market right now.
So I hear you on the solution would be cheaper vehicles.
That's not happening today.
Let's focus on what are the opportunities here?
And I'd say pretty much all these brands except for Toyota, Lexus.
Yeah, pretty much every brand except for Toyota, Lexus, you've got yourself a lot of leverage.
It would appear as if you have leverage.
The data would suggest that as the customer, you definitely have more leverage today than you did 30 months ago.
Now, are the dealers convinced that they want to seed their power where they think it's really a seller's market when in reality it's much closer to a buyer's market?
But that doesn't happen if the dealers don't agree to it.
I mean, there are, you know, we still, I still see comments where while I went to this Nissan dealer and they're charging $2,000 additional dealer markup or I went here and there's $3,500 worth of dealer installed accessories that are mandatory.
So we see the build up and I'm sure the manufacturers are concerned about that build up.
The dealers should be, but a lot of the dealers are just so pigheaded at the moment that they're looking at the numbers and they just think magically, well, we'll figure out how to sell them.
We don't have to really start giving them away.
And so part of it has to be the dealership mentality where they go, it's time to get back into the real car business and when our inventory explodes like it has, the only way to move it is to reduce the price.
So another live experiment, we have verified pricing.
All right, so every single day that car buying service, dozens of customers, we are helping them get the best possible car deal and our community is actually able to upload their own car deals to our verified deals section.
So dad, I've pulled this up here. Let's look, I've sorted it by most recent. Let's look at what the most recent deals are on the Car Edge concierge team.
Okay, this is a little bit, Alexis, Alex, 600. Okay, whatever. We're going to 2025 Kia Soul S, $1,800 off the MSRP's $24,690. That's a huge savings.
Oh, no, that is.
Savings on it Kia.
Yeah, no, I agree. That's, you know, you'd like to be able to get $1,800 off on a $35,000 car in many cases.
So there you go. That's some perspective here. We're going to skip over the lease. We've got a BMW dad, $62,400 MSRP on an X3, $3,432 is the dealer discount on that one.
This Toyota Camry. Camry's with over $1,000 in savings. I'm getting pretty excited if I save over $1,000.
Yeah.
Toyota Camry with Chevrolet 1500, a regular cab. This is so interesting. The savings are only $1,136.
This is probably the most inexpensive pickup truck you can get out there right now.
So even on some of the most in demand vehicles, because the more inexpensive to your point earlier, dad, $40,000 MSRP vehicle, we're still getting over $1,000 off for this customer.
Let's go to page two. Let's see what we see here. Mazda CX70, we've got $6,000 in dealer discounts on that one.
We'll skip over the McLaren. We'll come here. The Honda Ridgeline, $40,000 pickup truck, $3,841 off.
Subaru Forester, almost 10% off MSRP. Another Kia, dad, look at this $1,600 off on a $22,000 vehicle.
So just looking at some of the verified deals that we have here, that's pretty compelling stuff just from the two pages we've looked at.
Yeah, that indicates that if you work hard, you've done your research, you know what you're doing and you know how to negotiate, that there are savings to be had.
But the key is the research and the willingness to work hard in order to obtain those type of savings.
But I think it's indicative, dad, of market conditions because not all those transactions could have happened.
The idea of getting $1,000 off a Camry two years ago, even earlier this year, I don't know if that was maybe unicorn deal and whatnot,
but I think a lot of this has to do with market conditions have finally shifted to be more favorable for consumers.
It appears as if that's the case, but I still don't think either via marketing or advertising that the manufacturers are doing a strong enough job
of creating the perception that there are deals and huge savings to be had there.
I mean, let's face it, because of advertising, what is advertising do?
It creates a perception and the perception doesn't have to be real, it just has to be the perception.
So I don't think many of the manufacturers have done a good job of creating the perception that there are significant savings and great deals to be had.
Maybe we'll see that as we get closer to December and into November.
My suspicion is we'll see that.
We should see advertising go up dramatically for the end of year sales.
And historically, the end of year has always been when the biggest savings can be had.
But these manufacturers and these dealers have a lot to do to create a different perception for buyers out there that perhaps it's the buyer's turn and not the seller's.
We also know that most people, they transition in and out of their cars every three to five years.
Well, all those people that went to buy or lease a car three to five years ago had a very different buying experience because it was the midst of the chip shortage,
the new car shortage, the used car shortage.
And I think the important thing in our messaging, and we'll make some videos about this as well, is buying a car this October, November, December is not the same as it was three or five years ago.
And again, I could keep pulling up the data from March of 2023 versus today.
The market is so different.
So if you are going in with the expectation, oh, cars just got more expensive, dealers add markups, you buy a car at MSRP,
you can't negotiate the advertised price on a used car, B freaking S, the market conditions have changed.
And I think we really need to sound that alarm bell because there's a different version of this story.
If inventory wasn't building up, if manufacturers weren't struggling to sell their cars, we wouldn't be coming on here.
And I wouldn't title the show Car Market Crash of 2025.
It's actually quite serendipitous that this is happening right now.
And it's into the end of the year where these manufacturers are going to feel the pressure to increase their sales.
So this is a confluence of events.
And I think it's really, really, really important that people understand if they are going to buy a car or lease a car.
It is not the same as it was three or five years ago when you did it then.
The market conditions are totally different.
And I think the customers have to realize that ultimately they have all the leverage.
Because it's either their cash that they're paying for it with, or it's their good credit that is allowing them to get financed so the dealer can sell the car.
The dealer doesn't sell anything if the customer says no.
So they're not making a profit.
They're not selling anything.
They can pretend they have all the leverage.
But they're not selling the car to themselves.
They need an independent person such as yourself to walk into the dealership and say, yes, I want to buy it.
So remember, the dealership has nothing until you say yes.
And as long as you continue to say no, the harder they will work to get you to try and say yes.
And typically the way that they work in an effort to get you to say yes is they will lower the price or the monthly payments in order to make it attractive enough for you to finally say yes.
But you as a customer have to realize you have the ultimate leverage because they can't sell anything without you.
And that is the difference between today and the market before.
You previously didn't care if you were going to buy the car or not because there was someone lined up behind you waiting to purchase that vehicle.
That has changed.
The market conditions have changed and that is the message that we need to get out there.
And we need everyone to remind those because those conditions, the data, the underlying reality is different than it was three to five years ago.
What's lined up behind the customer today is another trailer load of cars or a couple of trailer load of cars looking to drop off more cars at the dealership.
So when you have more cars and you have customers, as the customer, you suddenly have a hell of a lot more leverage than when they had more customers than they had cars.
Remember the most powerful word in the English language when it comes to buying a car is a simple two letter word N-O.
No, I'm not ready.
No, the price isn't low enough.
No, the payment isn't low enough.
So just remember that is the most powerful word when you're in the midst of negotiations and you are the one that always has the option to say no.
And the power of that no today is significantly more powerful than it was three to five years ago or heck, even earlier this year.
I just cannot reinforce that enough because leverage is what yields a good negotiation.
And when the dealership had another customer right behind you waiting to buy that exact same car, they had the leverage, not you.
Now, dad, there's nuance to all of this and I think it's important that we get into it.
Joe, thank you for the very kind contribution.
Where do you guys see the Cadillac X-T5 in terms of negotiability and market status?
It's our most popular model, but not updated since 2017.
Now, the reason I bring this up, because this is the tool set that we've been trying to develop over the past five plus years.
So Joe's interested in a Cadillac X-T5.
First thing I'm looking at that is where is Cadillac on the nationwide day supply of inventory list?
And it's pretty low.
Cadillac has a 79 days supply of inventory.
So when we look at Cadillac versus some of the other brands here, nationwide Cadillac dealers actually don't have a huge surplus of inventory relative to demand.
So that's nuance piece number one is by brand, what do things look like?
Now, the other area of nuance is that particular model.
I don't know where else you can get this data.
We have it, we built it out at caredge.com on the car edge, car search.
I don't know where Joe's located.
We're still in Scottsdale.
We can move throughout the country and we'll do two demos here.
We'll start in Scottsdale and maybe we'll go to Florida, you want to go to Georgia, you want to go to Wyoming, we can go wherever.
But Dad, what I'm looking at here is there are 191 new XT-5s for sale within 50 miles of Scottsdale.
And what I want to look at has been a mixture of days on market.
If I'm looking at here, this one's been for 232 days.
One of the nice things I can do here is I can actually sort by oldest.
So I'm just kind of curious.
So we've got some certified, excuse me, some demo vehicles that they've had for 400 days, 400 days.
So I can see some of the older vehicles, but I can also click into a particular vehicle.
And I can get the market day supply for that, make, model and trim in that area.
So there's only a 30 days supply in Scottsdale for the XT-5 sport trim, for example.
Three have sold, yet there are only two sports for sale out of that whole batch.
This is the type of data you need to go look at.
Obviously the target discount range that we provide is meant to help you as well,
knowing the invoice price is meant to help you as well.
But that day supply, I mean, that changes the negotiability significantly.
Dad, if you're managing that Cadillac dealership and you know there are only two other Cadillac XT-5 sports for sale in your market,
put yourself back in the shoes.
My dad sold cars.
He managed dealerships for 40 years.
If there are two in your market area, Dad, how much are you negotiating on that thing?
Well, you know, maybe I was a different type of manager,
but if I had a customer that was threatening to buy the car,
I'm not letting them leave until I figure out how to allow that to happen.
A lot of dealerships would look at it and they'd go,
there's only two in the market.
You know that.
You've done your research.
There's only two in the market.
And if you haven't done your research, we'll do it for you.
We'll show you.
There's only two in the market.
You've got two choices.
I'm not saying that we can't work with you.
I'm just saying you have to temper what you're hoping to save when you understand that there's only two left.
Now, Dad, that was the sport trim.
Now look at what happens when you look at the luxury trim.
So we're in the same market area.
We're now looking at the luxury.
We've got three have sold in the last 45 days, yet there are 37 for sale.
Now, Dad, put yourself back in the shoes of that sales manager.
Joe comes in.
Joe comes in.
He wants to buy an XT5 or he reaches out via email text message on this one,
not the sport, the luxury, where you know there are only three sales in the last 45 days,
yet the region has 37 for sale.
How does that change the negotiation?
Joe, give me some ideas to what you might be willing to pay for.
Let me see if I can just make that happen for you.
Let's just cut to the chase.
That's the difference.
I'm not going to sit there and justify why I need you to pay a lot when I know you know that there's like another 30,
36 ones you could be looking at as opposed to there's only two that are available.
Yes.
Hey, Joe, let's just cut to the chase.
Give me an idea of what it is you're looking to spend.
If it is doable, we're just going to make a car deal 1, 2, 3.
Is that okay with you?
That's how I would approach it.
Thank you, Joe.
Obviously, we did not ask Joe to donate today or to ask about the XT5,
but it is a perfect demonstration of how the market is so nuanced.
You look at Cadillac as a brand at the highest level, not a lot of negotiability there.
You look in at a particular trim level in a particular region, not a lot of negotiability there.
You look at a different trim level, a poop ton of negotiability there.
The conversation is entirely different.
Joe, I hope that's helpful for you and I encourage you to use the tools that we have back on the website
to reference that information as well.
And for those of you that are disinterested in doing all the legwork that we just did right there,
this is what we've now rebranded as CarEdge Pro.
If you're not using CarEdge Pro, I encourage you to do it.
This is the combination of what used to be insights, CarEdge Insights, and our AI negotiator.
Imagine being able to just push a button and the AI agent uses all that data we just referenced
to contact the dealership and negotiate on your behalf.
There's a lot of great resources back on the website CarEdge Pro included,
leveraging that information to have an informed negotiation to try and drive a good outcome here
amidst the time when the market has fundamentally changed and shifted.
Yes.
Can I do one thing real quick?
Sure.
And then I've got one other story above the cover today.
Okay.
Well, before we get that started, you're going to have to hang on for that story.
But yesterday I had a request from one of our viewers and the request is,
Ray, could you just do a brief watch check daily?
Because you're always wearing different watches and people are curious as to what it is.
So today it is a Hamilton field watch.
It's the Hamilton Kaki Automatic 42 millimeter size.
It is a Swiss automatic movement with a display back 80 hour power reserve.
So that's today's watch.
Now, Zach, I believe you have another story.
There we go.
I was trying to find the button that GM privately sold $2 billion worth of auto loans just the
other day.
The reason I bring that story up is because I think it qualifies even more of how the
market is starting to reset and crash.
That being said, these automakers, they're captive financing arms.
They package up and sell auto loans all the time.
But a recent sale dad of 2 billion worth of auto loans caught my attention and caught the
attention of many other people in the industry.
GM doing an asset back security sale for their loans that their dealers have placed.
Did they sell them to Carvana?
Or did not sell them?
Did they sell them to TD Bank or Chase or who the others were that stepped up and were
underwriting the loans from Tri-Color?
No, the interesting thing that is typically these are sold on public markets.
These asset back securities, this was sold privately through Goldman Sachs.
That's another interesting component of this.
Yeah.
Yeah.
Wow.
Yeah.
Just flagging it.
Just flagging it.
Yeah.
No, that is very interesting.
It seems as if many dealer groups, many manufacturers are realizing the money to be made is in loan
originations and then turning around packaging those loans and selling them as asset back
securities and washing your hands of them.
And if they go bad, oh, well, you're not the one caught holding the bag.
Stay tuned, folks.
Maybe a business model innovation back at CarEdge.
And that's what we should be doing.
We've got dad.
Yes.
Can't read that.
FITO biomass, Jay.
There we go.
I got through it.
Thank you for the kind contribution.
I brought a Mazda CX50 Hybrid in April.
Did well with CarEdge's help.
Thanks again.
But unexpectedly, my new work contract allows me to remain fully remote making the car a
lawn ornament.
Wow.
Yeesh.
Yeesh.
We've got here a continuation.
Not underwater on the loan.
Can sell to CarMax.
$3,000 in appreciation since only 1,200 miles on the vehicle.
Given the market, you think a decent 2017 CX5 with around 95,000 miles might be doable in
late December for around 14.5 in the New Jersey Delaware area.
I don't know.
Let's go to the car search.
Let's have some fun here for a moment.
So it sounds like dad, this particular community member, wanting to get out of a newer vehicle
and get into a cheaper used vehicle since he's not driving that much.
Yeah.
Boy, it almost makes me wish I hadn't got my car back in March and I could have ended
up with his CX50 Hybrid.
Well, come on, man.
Dad, what's a zip code for that area?
Do you have anything coming to mind?
Delaware?
No, I don't off the top of my head, but I know it's 08060 or 080406.
No, what's the New Jersey one?
Okay.
Yeah.
And you're in South Jersey.
Okay.
All right.
So let's come over here.
How am I checked?
I am.
Yeah.
Not all that far from Delaware.
All right.
So would you say 080406?
Yeah, whatever.
Yeah.
We'll do 100 miles.
Okay.
So we're looking for a 2017 CX5.
Yeah.
I got the CX5 in there.
Okay.
So there's only 100 around you, Dad.
And then did Jay say anything else?
This looks like 95 miles per mile.
There's 23 around in 100 mile radius.
Yeah.
Yeah.
Yeah.
And I'm looking right now at the oldest, the ones that have been sitting.
Wow.
Isn't this interesting, Dad?
The oldest on the lot is only 50 days.
Think about that, guys.
We were just looking at some of these Cadillacs.
They had been sitting there for 400 days.
They used cars.
Turn over a heck of a lot more quickly than new cars.
Jay was talking about something around 95,000 miles on.
Yeah.
And about $14,000.
Man, look at this.
No credit, bad credit, no problem.
There you go.
So 90,000 miles, dealers asking 16 big ones on it.
Jay's looking to be out the door 14.5.
Might be doable.
Might be doable.
Yes, especially in a couple of months when you look out there.
I'm just curious what the price history is here for this particular vehicle.
Yeah.
I mean, they've already...
No, it looks like they haven't discounted their advertised price yet because that was
back when it was sold for use last time.
So no, I mean, yeah, I actually do think that's...
Jay, I'd say that's doable.
I'm team Jay on this one.
I think he's got his hand.
I certainly think you'd be pretty close.
Yeah.
And you've got Igor here with some good commentary.
I'm 17 with 90,000 miles, about nine grand wholesale.
So yeah, I think 14.5.
I like that number for you, Jay.
I'd be shooting for that later on this year.
Yeah, absolutely.
And if it were me with only 1200 miles on that CX50 hybrid, I might try and sell that
myself privately as opposed to selling at the CarMax.
Yeah.
I think that's a good point.
Also, we'll mention that if you use the CarEdge Garage, CarEdge.com, we can now get you hooked
up with CarMax as well, helps get some credit for us here at CarEdge.
So we appreciate that if you do it.
But that being said, I agree with you, Dad.
That pristine of a vehicle, I do a lot of work to see if I could sell it for even more.
Okay, great show today, Dad.
Really enjoyed the conversation.
Again, a friendly reminder to everyone.
If we can assist you, it is our privilege, our pleasure.
We've got an incredible team behind the scenes.
Check out CarEdge.com.
Up there at the top shop for new cars, used cars, all of our research tools available for free.
Our car buying service and CarEdge Pro.
If you're using CarEdge Pro, you're going to have the AI negotiator doing all sorts of fun things for you.
And like I mentioned just a second ago, the CarEdge Garage as well, where you can track your vehicle value
and project it out into the future as well.
So much good stuff back in CarEdge Land.
Dad, do you have any fun plans this weekend?
Well, I'll probably be disappointed by the Cardinals again.
Have you ever?
Yeah.
No, I don't think I do.
You know, just, you know, I'm living the life.
What can I tell you?
All right.
Well, you enjoy that.
We appreciate everyone tuning in.
Subscribe to the channel if you haven't already.
We'll see you back here on Monday.
Have a great weekend, everybody.
Thanks for watching.
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About this episode
A significant shift in the car market is unfolding, with new vehicle inventory surging over 100% and days supply reaching 84, indicating a potential crash on the horizon. Hosts Ray and Zach analyze the latest data, discussing how this surplus creates a buyer's market, contrasting it with previous years' conditions. They emphasize the importance of consumer leverage in negotiations, especially as manufacturers ramp up incentives to move inventory. The episode also explores specific brands and models, providing insights into current pricing trends and negotiation strategies.
Today on CarEdge Live, Ray and Zach discuss the latest car inventory data. Tune in to learn more. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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