{"version":"1.0.0","episode":{"title":"The Car Market RESET Is About To Get SO MUCH WORSE | Episode 969","url":"http://getcarcurious.com/episodes/the-car-market-reset-is-about-to-get-so-much-worse-episode-969","audioUrl":"https://pscrb.fm/rss/p/mgln.ai/e/1385/pdrl.fm/3359a6/injector.simplecastaudio.com/14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9/episodes/07fd8ad3-1cbb-4dbf-a495-242802b55aaa/audio/128/default.mp3?aid=rss_feed&awCollectionId=14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9&awEpisodeId=07fd8ad3-1cbb-4dbf-a495-242802b55aaa&feed=gkrQ6WSC","description":"Today on CarEdge Live, Ray and Zach discuss the latest car market data. 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":391.6,"endTime":395.0,"type":"term","title":"average new car transaction price","url":"/glossary/average-new-car-transaction-price","quote":"...who has the money to be able, the average new car transaction price is once again approaching $50,000.","canonicalId":"term:average-new-car-transaction-price","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The average new car transaction price refers to the typical amount buyers pay when purchasing a new vehicle, which can vary based on factors like make, model, and market conditions. This figure is important for understanding the current automotive market and consumer spending habits.","simplifiedExplanation":"The average new car transaction price is how much people usually pay for a new car. It helps you see how much cars are costing these days."}},{"startTime":398.2,"endTime":402.2,"type":"term","title":"average listing price for new cars","url":"/glossary/average-listing-price-for-new-cars","quote":"...the average listing price for new cars is over $50,000.","canonicalId":"term:average-listing-price-for-new-cars","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The average listing price for new cars is the typical price at which new vehicles are advertised for sale. This price can be influenced by supply and demand, vehicle features, and market trends.","simplifiedExplanation":"The average listing price for new cars is what sellers usually ask for when they put a new car up for sale. It shows how much new cars are generally worth."}},{"startTime":404.6,"endTime":409.1,"type":"term","title":"10% rule","url":"/glossary/10-rule","quote":"...If you use my 10% rule as to what you can afford, my 10% rule is 10% of your gross monthly income can go towards a car.","canonicalId":"term:10-rule","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The 10% rule is a guideline suggesting that individuals should spend no more than 10% of their gross monthly income on car payments. This helps ensure that car expenses remain manageable within a person's overall budget.","simplifiedExplanation":"The 10% rule is a way to decide how much money you should spend on a car each month. It says you shouldn't spend more than 10% of your monthly income on car payments."}},{"startTime":738.6,"endTime":739.8,"type":"term","title":"MSRP","url":"/glossary/msrp","quote":"...the manufacturers have just continued to increase their MSRP's and ultimately there has been enough demand. And again, what we're talking about today...","canonicalId":"term:msrp","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"MSRP stands for Manufacturer's Suggested Retail Price, which is the price that the manufacturer recommends retailers sell a vehicle for. It's important for consumers to know this price as it serves as a baseline for negotiations when purchasing a car.","simplifiedExplanation":"MSRP is the price that the car maker suggests you should pay for a car. It's a starting point for how much you might expect to pay when buying a new vehicle."}},{"startTime":1268.24,"endTime":1270.24,"type":"car","title":"Ford F150","url":"/cars/ford/f-150","image":"https://upload.wikimedia.org/wikipedia/commons/5/56/2022_Ford_F-150_Lightning_Rear.jpg","quote":"Let's do the F-150. Average use price $50,000.","canonicalId":"car:ford:f-150","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Ford F-150 is a full-size pickup truck known for its durability, versatility, and strong performance. It is one of the best-selling vehicles in the United States, popular for both work and personal use.","simplifiedExplanation":"The Ford F-150 is a big truck that many people use for work and everyday driving. It's known for being tough and reliable, making it a favorite among truck buyers.","imageAttribution":"UltraTech66 (CC BY-SA 4.0)"}},{"startTime":1284.2,"endTime":1284.2,"type":"term","title":"10% roll","url":"/glossary/10-roll","quote":"Let's use your 10% roll for a second here.","canonicalId":"term:10-roll","priority":0.5,"confidence":0.7,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The term '10% roll' likely refers to a common practice in budgeting or financial discussions where a percentage of a total amount is considered for calculations, often used to estimate costs or savings. In this context, it may relate to calculating affordability based on income and vehicle price.","simplifiedExplanation":"A '10% roll' is a way to think about how much of your income you can spend on something, like a car. It means taking 10% of a number to help decide if you can afford it."}},{"startTime":1509.2,"endTime":1511.2,"type":"term","title":"sticker price","url":"/glossary/sticker-price","quote":"Do we wait until the sticker price is lower? Unfortunately, Dad, this is at least my thinking here.","canonicalId":"term:sticker-price","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The sticker price refers to the manufacturer's suggested retail price (MSRP) displayed on a vehicle's window. It represents the price at which the manufacturer recommends the dealer sell the car to consumers.","simplifiedExplanation":"The sticker price is the price you see on a car when you go to buy it. It's what the manufacturer thinks the car should cost."}},{"startTime":1515.2,"endTime":1517.2,"type":"term","title":"new car market","url":"/glossary/new-car-market","quote":"Right now, it's about as good as it's going to get in terms of the new car market.","canonicalId":"term:new-car-market","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The new car market refers to the segment of the automotive industry that deals with the sale of brand new vehicles. This market can be influenced by factors such as production rates, consumer demand, and economic conditions.","simplifiedExplanation":"The new car market is where you buy cars that have just been made and are brand new. It's different from buying used cars that have been owned before."}},{"startTime":1517.2,"endTime":1519.2,"type":"term","title":"used car market","url":"/glossary/used-car-market","quote":"And even for the used car market, probably, because there was such a significant decrease in the number of new vehicles produced for so many years there.","canonicalId":"term:used-car-market","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The used car market consists of vehicles that have had previous owners and are sold at a lower price than new cars. This market can fluctuate based on supply and demand, as well as economic factors.","simplifiedExplanation":"The used car market is where you buy cars that someone else has owned before. They usually cost less than new cars."}},{"startTime":1524.2,"endTime":1526.24,"type":"concept","title":"negotiation","url":"/glossary/negotiation","quote":"So it is, I think, a matter of negotiation.","canonicalId":"concept:negotiation","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Negotiation in the context of car buying refers to the process of discussing and reaching an agreement on the price and terms of the sale between the buyer and the seller. It often involves haggling to achieve a better deal.","simplifiedExplanation":"Negotiation is when you talk to the seller to try to get a better price for the car. It's like bargaining to see if you can pay less."}},{"startTime":1565.2,"endTime":1567.2,"type":"concept","title":"new car inventory","url":"/glossary/new-car-inventory","quote":"New car inventory is the highest level it's been in the past 18 months. We've seen significant increases in negotiability and leverage for customers.","canonicalId":"concept:new-car-inventory","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"New car inventory refers to the stock of brand new vehicles available for sale at dealerships. High inventory levels often indicate that dealerships are more willing to negotiate prices, giving buyers more leverage in the purchasing process.","simplifiedExplanation":"New car inventory is the number of new cars that dealerships have available to sell. When there are a lot of new cars, buyers can often get better deals because dealerships want to sell them."}},{"startTime":1569.2,"endTime":1572.2,"type":"concept","title":"negotiability","url":"/glossary/negotiability","quote":"We've seen significant increases in negotiability and leverage for customers. So if you want to buy a vehicle or if you need to buy a vehicle, now is definitely the time to do it.","canonicalId":"concept:negotiability","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Negotiability in the context of car buying refers to the ability of customers to negotiate the price of a vehicle with the dealership. When inventory is high, customers typically have more room to negotiate lower prices.","simplifiedExplanation":"Negotiability means how much you can talk about the price of a car with the seller. If there are many cars available, you might be able to get a better price by negotiating."}},{"startTime":1572.2,"endTime":1574.2,"type":"concept","title":"leverage for customers","url":"/glossary/leverage-for-customers","quote":"We've seen significant increases in negotiability and leverage for customers. So if you want to buy a vehicle or if you need to buy a vehicle, now is definitely the time to do it.","canonicalId":"concept:leverage-for-customers","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Leverage for customers refers to the advantage buyers have in negotiations, particularly when there is a surplus of inventory. This means customers can push for better deals and terms when purchasing a vehicle.","simplifiedExplanation":"Leverage for customers means that buyers have more power to ask for better prices or deals when buying a car, especially when there are many cars available to choose from."}},{"startTime":1685.2,"endTime":1687.2,"type":"car","title":"Honda CR-V","url":"/cars/honda/cr-v","image":"https://upload.wikimedia.org/wikipedia/commons/c/c3/2018_Honda_CR-V_%28RW_MY18%29_%2BSport_2WD_wagon_%282018-10-22%29_01.jpg","quote":"...can't wait to take delivery of my new Honda CR-V. Love hearing that.","canonicalId":"car:honda:cr-v","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Honda CR-V is a compact crossover SUV known for its reliability, spacious interior, and fuel efficiency. It's a popular choice among families and individuals looking for a versatile vehicle.","simplifiedExplanation":"The Honda CR-V is a type of SUV that's great for families. It's known for being reliable and having a lot of space inside for passengers and cargo.","imageAttribution":"EurovisionNim (CC BY-SA 4.0)"}},{"startTime":1747.2,"endTime":1753.2,"type":"car","title":"Ram 2500","url":"/cars/ram/2500","image":"https://upload.wikimedia.org/wikipedia/commons/6/66/%2717_Ram_2500_Power_Wagon_%28MIAS_%2717%29.jpg","quote":"So this is a deal that someone entered into on allegedly a new Ram 2024-2500. That's what it says up here.","canonicalId":"car:ram:2500","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Ram 2500 is a heavy-duty pickup truck known for its towing capacity and rugged performance. It's part of the Ram truck lineup, which is popular for both work and personal use.","simplifiedExplanation":"The Ram 2500 is a strong truck designed for heavy loads and tough jobs. It's often used for towing trailers and carrying heavy items.","imageAttribution":"Bull-Doser (Public domain)"}},{"startTime":1806.2,"endTime":1810.2,"type":"term","title":"financing","url":"/glossary/financing","quote":"Now, this person thought that it made total sense to buy a truck for $112,000 or finance, $112,000 on a truck.","canonicalId":"term:financing","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Financing refers to the process of obtaining funds to purchase a vehicle, typically through a loan or lease. The buyer agrees to pay back the borrowed amount, often with interest, over a specified period.","simplifiedExplanation":"Financing means getting a loan to buy a car. You pay back the loan over time, usually with extra money added for interest."}},{"startTime":1823.2,"endTime":1829.24,"type":"term","title":"interest","url":"/glossary/interest","quote":"...and payback over that seven-year term, $47,548.76 in interest.","canonicalId":"term:interest","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Interest is the cost of borrowing money, expressed as a percentage of the loan amount. It is paid to the lender in addition to the principal amount borrowed and can significantly affect the total cost of financing a vehicle.","simplifiedExplanation":"Interest is the extra money you pay when you borrow money. When you finance a car, you pay back the loan plus some extra for the lender's service."}}],"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/the-car-market-reset-is-about-to-get-so-much-worse-episode-969/transcript.vtt","type":"text/vtt"}]}