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Available now in your refrigerated section. It's noon here in Ventnor City in New Jersey
01:03
and our nation's capital, Washington, D.C., and this is Car Edge Live for Friday, November 28th,
01:10
with your hosts, me, Ray in Ventnor, and well, Zach in Washington. How are you today, handsome?
01:18
Doing fantastic. Grateful to be with you here today, Pops, and thank you everyone for tuning in.
01:22
We're grateful for you joining us as well. Today's show is brought to you by CarEdge.com.
01:28
Dad, our Black Friday promotion, it is live. And I don't know about you, man.
01:33
But it seems like the marketing of Black Friday promotions this year is a level I've never seen
01:37
before. I'm getting texted like every 30 minutes by a different brand. So sorry, y'all. I know
01:43
everyone's getting hit with the promos, but the offers are significant. We're offering $300 off
01:47
our car buying service and 30% off Car Edge Pro. Please take a peek back at CarEdge.com.
01:53
Remember, for the car buying service, you can schedule a consultation call with our team to
01:57
see if it's a good fit. And of course, meet the folks on our team who are helping our customers
02:02
save thousands of dollars every single day. You can learn some of their stats, like how long they've
02:07
worked in the auto industry, what types of deals they like to work on, how much they've saved
02:11
cumulatively, how many deals they've done, and see those recent transactions they've helped our
02:16
community members with. All back at CarEdge.com. Now, Dad, the big story I wanted to talk about
02:22
Can I ask you a question first?
02:24
Yeah, of course, Dad.
02:25
Do you know why today is called Black Friday?
02:29
No. Why is it called Black Friday? I have no clue.
02:33
The reason it's called Black Friday is because historically, traditionally, because of sales
02:40
today, this is the day that businesses went into the black when they became profitable. And that
02:49
is why it's called Black Friday. So in honor of Black Friday, because of all the green that's
02:57
going to be spent, I am wearing a green outer shell and a black t-shirt to signify all that
03:05
green is going to turn these retailers profitable for the remainder of the year.
03:11
For those that are interested, we compress here at CarEdge our profit margin
03:17
significantly, like significantly, significantly. We pay people a lot of money to do the concierge
03:22
service. And yeah, when we take $300 off, we make a hell of a lot less profit, but that's okay.
03:29
So are you telling me for us, Black Friday is Red Friday?
03:34
Well, not the red, but a lot less black. Here we go, folks. The big story this morning. This
03:40
is what happens when people stop buying cars. There's a really awesome X account. Also speaking
03:45
of which, sorry, I got to do this right now. My Twitter account got hacked last night. I can no
03:50
longer log into it. I've reached out to X now three times. Each time they say they can't verify
03:54
me. If anyone in our community knows anyone at formerly Twitter X, my email address is
04:01
Zach at CarEdge.com. Please, I'm trying to get my account back. I hope they don't start
04:06
spamming crap. Anyway, all right. But there is a great, great follow over here. The car dealer.
04:13
In this tweet that this guy runs multiple dealerships,
04:16
November has been a blank for the car business. A used car market with prices propped up by
04:24
scarcity from the chip shortage. Then we have at the same time, the consumer stretched in retail
04:29
used car demand is soft. That's good for a heavy dose of margin compression. So you can see here,
04:35
he's talking about what's going on in the used car market, which you and I, every single month,
04:39
we look at the latest and greatest data when it comes to the used car market. And we know used
04:43
vehicle inventory climbs in November as sales and prices edge higher. But the same exact thing
04:48
is going on on the new car side as well. New vehicle inventory rising ahead of holiday sales
04:53
season. And we got the latest and greatest data over on new vehicle sales, expected to be down
04:58
8% year over year. So let's talk about it, dad. What happens when people stop buying cars?
05:05
The car dealer over here on X is saying, quote, that's a, that's good for a heavy dose of margin
05:10
compression. Price has got to go down, right? Profit. We were just talking about being in the
05:14
black profits got a decrease, correct?
05:17
One would think, I don't know any other way to get people to continue to buy cars
05:26
other than make them less expensive. And so there's a couple of ways you can make them less
05:32
expensive. You can build cars that aren't equipped as heavily as what has been built in the past
05:39
and lower the prices that way. You can continue to build the cars that you've been building,
05:46
and you can offer larger incentives as the manufacturer and the dealer recognizing the
05:54
fact that they're not moving as quickly as they had been can then decide to offer larger discounts
06:02
alongside of those increased incentives from the manufacturers to make the prices cheaper.
06:08
So yes, margin compression is a thing and it happens. And we're going to continue to see it
06:17
happen with new car sales being off 8% year over year. It's just that simple inventory.
06:25
This message from this particular dealer is all about used cars. And when you go to use cars,
06:29
there is no manufacturer incentive you can lean on maybe with certified pre-owned,
06:33
but that's the exception, not the rule. There is no other party you can look to,
06:38
to help you get the price down. This is just at the dealership level. Margin compression,
06:42
new cars, obviously there's a couple more dynamics with incentives and things like that, but
06:46
this is the broad based story for this industry. And this is what happens when people stop buying
06:51
cars. The prices have nowhere to go except for down. And we'll do a bunch of live experiments
06:56
on the Car Edge Car Search today and just look at some price histories of used vehicles,
06:59
new vehicles, things like that. But this is going to be the trend for the foreseeable future
07:04
is that prices will have to go down. And it's not just us saying it. That's what I love about
07:08
this message. November has been a blank in the car business. That's not us. That's a guy who
07:13
runs multiple dealerships and you don't have to look that far to find other people saying the
07:17
exact same thing. And dad, you've run dealerships during periods of time where it was a blank. And
07:22
what do you do? You got to get creative to sell cars. During the beginning of the financial crisis,
07:29
the great recession, I started noticing trends and I noticed inventories building up.
07:41
In particular, at that time, it was the TL at the Acura store that my turn and earn system,
07:49
what I was turning was suddenly no longer equaling what I was earning. I was earning
07:56
way more than I was turning, which was an indication to me that A, my sales were down,
08:03
but Acura was still producing at the levels at which sales had been. And so even though I wasn't
08:12
earning as many cars as they were allocating, they were allocating those cars because they
08:18
had too many. And so I noticed that happening. I noticed TLs building up. Obviously, I noticed
08:27
sales declining dramatically. So what do you do? I put up a whiteboard in the showroom by
08:36
the reception desk. I made it real simple. I listed each model, TL, MDX, RL, whatever the
08:47
hell it was at that time. And I said, here's the pricing. It's invoice plus $200 less any factory
08:58
incentives. You pick the car, give us the stock number. We'll give you the invoice. So you can
09:06
see what invoice is. You add $200 to that and then subtract whatever rebates or incentives we have
09:13
from the manufacturer. Now, did my salespeople like that? They hated it because they couldn't
09:20
hold any gross profit. And well, the way salespeople get paid is off a gross profit.
09:25
So the complaint was Ray's taking away our ability to make any commission, any money. And
09:35
I guess to a degree I was, but I wanted to make it as easy as possible for people to pick out a car
09:43
and then show them the invoice and allow them to make the buying decision based on the fact that
09:51
they knew exactly what they were paying. They saw what we paid for the vehicle.
09:56
Now, was that the ultimate cost in the vehicle for us? No, there was holding back in this and that,
10:01
but working on a $200 gross profit per vehicle sold.
10:08
Yeah. Not a lot, but that's what I figured I would do in order to make it easier for the
10:15
customers and to spur interest.
10:19
So for a lot of people that are out there right now, dad, please, if you're in the market to buy
10:23
a car, let us know in the chat what vehicle you're interested in, new or used, and a zip code. And
10:28
we'll go to the CarEdge car search today and we'll spend some time talking about how negotiable your
10:32
market area is, expectations that you should have for that particular vehicle. We also have
10:37
some questions from the community forum that we're going to be addressing on today's show
10:41
as well. But let us know if you're in the market and you're out there, let us know where you are,
10:45
what you're up to, new or used, and a zip code, and we will do our best to provide some insights
10:50
here. But no matter how you slice it, dad, all the data suggests that it is very much that buyer's
10:55
market. We'll start here. All right. We've got a first one from Astrowise. You ready, dad?
11:00
Yes. And may I say one thing first? Even though it is a buyer's market,
11:07
okay, the vehicles, most vehicles are still out of reach for the vast majority of people
11:16
who might like to be able to take advantage of that buyer's market.
11:21
There's still an affordability crisis, but I don't want to talk about the affordability crisis
11:24
today. Today's show, we're focused on the people who are in market and we're going to help them
11:28
out as much as we can. That does not take away from our stance on vehicle affordability. Sound
11:32
good, dad? Yes. All right. That sounds perfect. All right. Here we go. So we're looking for,
11:38
this is for Astrowise. We're in Memphis, Tennessee. The Electris 350RX. Let me get
11:44
that off the screen so we can look. 350RX3. Does Astrowise remember many, many, many, many,
11:53
many, many years ago, a fine men's and ladies' and children's department store called Julius
12:01
Lewis in Memphis, Tennessee, where at one time they had three locations. Just curious if you
12:08
remember the Julius Lewis stores. That was my uncle Julius, by the way. Very cool. We got a
12:15
Memphis connection. All right, dad. So here we are. I'm within a hundred miles of Memphis. We've only
12:20
got 20 Lexus RX. So this is a great first vehicle to start with. And I see some other people asking
12:25
about the Lexus RX hybrid in some other locations. So here's the deal. Lexus is one of those
12:31
manufacturers that does not have a particularly large amount of inventory on the ground. I don't
12:36
even think any of these, we have a single real image of one. No, we only have the stock images.
12:42
And look at the days on market, 21 days, 21 days, 30 days, six days, one day, 55 days, 20 days,
12:49
14 days, one day, 21 days, 47 days, 21 days. Dad, if you're in the market, so you're Astroworld.
12:56
And you're looking for this particular vehicle.
12:58
What are you thinking when you walk into a dealership? Because this is one of those vehicles
13:02
that people have not stopped buying. This is one of those vehicles that is in
13:06
high demand and low supply.
13:09
I am thinking, if I'm looking at one of those vehicles, that I hope that the dealer hasn't
13:17
added mandatory dealer installed accessories already, and that they haven't added a market
13:23
adjustment. Because A, I'm going to fight them on the market adjustment. And B, I'm not going to
13:30
want to pay for things that I didn't ask to have installed on the car. Now, knowing that there are
13:36
only 20 of these in a hundred mile radius of Memphis does not give me, as the customer,
13:45
a tremendous amount of leverage. We could almost say zero leverage.
13:50
So you're pretty much begging and hoping that they won't try to take advantage of you like many
13:59
Yeah. And I agree with this. Discounts are going to be very regional. That's one of the nice
14:02
things about having the target discount back on the CarEdge website. You can shoot for that
14:07
in your particular area. All right. Let's do another one here, Dad. Let me come back up.
14:11
Let's see here. This is from G Money. Love that. 2025 Tucson, Hyundai Tucson Hybrid Limited.
14:18
We're in 32817. All right. Give me a second. It's 32. Whoops. Yeah.
14:27
817. Okay. And what are we looking for again, Dad?
14:32
2025 Tucson Hybrid.
14:36
Hyundai Tucson. Okay. So this is so fascinating already. And I haven't done just 2025s yet.
14:43
I'll do that in a second. But there's 2,261. So just think about this for a second. Are we
14:48
just looked in Memphis?
14:50
Car shopping is so regionalized, brand-specific, model-specific. In Memphis, there were 20 Lexus
14:58
There were within 100 miles. Here we're in Orlando, Florida. There's 2,200 of them.
15:04
What are you saying?
15:05
All right. So now let's go limited. Let's go trim over here. Give me a second. Trim. There's 451
15:12
Limiteds. And now we'll go year. 2025. 2025. Okay. We're down to 99. We're down to 99. Now,
15:24
Dad, this first row that we're looking at right here, 57 days, 111 days, 61 days.
15:30
If you want the best deal, you're looking at the one that's 111 days, right? Or maybe,
15:34
how about I do this? Let me sort by oldest.
15:37
Here we go. Here's one that's been on the lot for 306 days, 286 days, 281 days. What are you
15:43
thinking about some of these, Pops?
15:45
Those that have been sitting the longest should be able to garner you the biggest discount.
15:54
And it indicates to me, if there were 451 or whatever that number was,
16:02
And then when you took out 2026s, it came down to 99.
16:07
So that would indicate to me that there's plenty of 2026 inventory on hand,
16:12
and the dealers would be even more motivated to rid themselves of the remaining 2025s.
16:20
They don't want to get stuck with 2025s on the lot as the 2026s continue to come in.
16:27
So I would think the fact that you're looking at a 2025, when there's way more 2026s available,
16:36
that the dealers would be more motivated to move one of those 2025s
16:41
than they would to move one of the 2026s.
16:44
And this is one of the nice things that there's 0% financing right now. Yes, for 36 months,
16:48
but still 0% financing offer on top of the fact that you're probably going to get this
16:52
at or below invoice price.
16:54
I think this is a perfect example of this is a great vehicle to be targeting for a deal.
16:59
This is kind of unlike the first one we looked at, the Lexus RX,
17:02
a prior model year, Hyundai Tucson.
17:05
That's a great one.
17:06
That's one where you're going to have a lot of leverage.
17:08
Yeah, I would think between dealer discount and manufacturer incentives,
17:15
you're probably looking at probably close to 10% off of MSRP.
17:20
I think somewhere between 8% and 10% for sure.
17:22
Now, dad, this isn't another part of the world, but we've got a community member,
17:26
Anissa, excuse me, Hyundai Tucson Hybrid Limited 2025,
17:29
new or slightly used if I can get a deal, San Jose, California.
17:32
So let's now put ourselves in Anissa's shoes.
17:34
Are you going new or are you going used, dad?
17:36
We've had this conversation a bunch recently.
17:38
I've got my opinion. What do you think?
17:40
Well, it depends on if there is a significant
17:44
price difference between the slightly used and the brand new.
17:48
Which we know is...
17:50
Which we know there typically hasn't been.
17:54
And we know that Hyundai is doing a great job of maintaining their momentum
18:04
by increasing many of their incentives.
18:07
So we know that they're playing the long game.
18:11
They want to keep building that momentum,
18:14
and they have stepped up their incentive game in order to do that.
18:18
So if you know that you can get somewhere between 8% and 10% off
18:23
on a brand new one off of MSRP,
18:27
and you can take advantage of some specialized financing,
18:31
then it would seem to me new would be the way to go.
18:34
That's the dynamic in today's market, especially with a brand like Hyundai,
18:37
which is offering the 0% financing on not only
18:40
internal combustion engine powertrains, but also hybrid,
18:43
and not just 2025s, also 26s.
18:45
Hyundai is probably the most aggressive right now with Black Friday deals,
18:48
as well as end of year deals.
18:50
And I don't even think it's a question,
18:51
because you're not getting 0% financing on a used car.
18:54
You're not getting anywhere close to that.
18:56
And then obviously the warranty piece you touched on.
18:58
So I definitely think it's a total 180 from the traditional approach,
19:02
which is you want a better value, you go used.
19:06
If you want a better value, you go new.
19:08
Dad, let's do a couple more here.
19:10
Actually, we've got an interesting question here from Chrome user Pops.
19:14
Why did my leased car that I turned in three months ago
19:17
still have me listed as the registered owner?
19:22
Well, did you turn in the license plates and the registration to the vehicle,
19:27
to your motor vehicle agency?
19:30
Because typically that's your responsibility,
19:34
is to return the plates and the registration to motor vehicle.
19:37
And if you don't do that, then well,
19:40
motor vehicle doesn't necessarily know that, well, you're not the owner anymore.
19:46
And then I would also check and make sure with the dealership where you turned it into,
19:53
that you want to ask them for a receipt showing that it was turned in.
19:58
And you want to make sure that the leasing company has indicated that the lease is done.
20:06
And once you've done all that, then you can take all that information to motor vehicle,
20:11
along with your license plate for that vehicle.
20:15
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Love putting pops on the spot to help people out.
21:51
Now let's do one more here.
21:52
We've got from AAXVMY.
21:55
I need a 2019 to 2022 Honda CRV, less than 60,000 miles,
22:01
Charlotte and Charleston area.
22:03
So I've pulled up here, Charleston, South Carolina,
22:06
or I guess Charlotte, North Carolina, whatever.
22:08
We're going to stick with Charleston
22:09
because I've already got it pulled up.
22:10
And we want a 2019 to 2022.
22:14
Honda CRV, less than 60,000 miles.
22:17
Less than 60,000 miles.
22:20
Give me a second here.
22:21
And year was 2019 to 2022?
22:27
Not good memory, but decent memory.
22:30
And mileage was under 60.
22:34
We are down to 73 matches.
22:37
So let's look at this, dad.
22:38
And then I want you to put your used car manager hat on here.
22:42
And why don't we sort this?
22:44
Is there a particular sort you want to look at?
22:47
All right, we'll do oldest.
22:48
We'll see the ones that have been sitting around the longest.
22:51
355 days at a Mazda dealership.
22:54
Get rid of the doggone thing.
22:56
All right, that seems absurd, but we'll do this row right here.
23:03
224 days on the market.
23:05
Let's go over here.
23:06
Actually, I like this one.
23:07
I got a good feeling about this one.
23:10
What I'm interested in seeing 2020 Honda CRV touring.
23:14
I'm interested in seeing the price history.
23:17
Yeah, that was kind of what I was expecting to see a little bit of a down
23:19
into the right trend going on here.
23:21
I'd be interested in seeing the original MSRP.
23:25
I can help you out with that.
23:26
I can click to view the window sticker.
23:35
And so this was a 2020.
23:37
This was a 2020 and it's got, wait for it, 55,000 miles on it.
23:43
And what are they asking for it?
23:46
Dealers asking 24,420.
23:48
So it's $13,000 less today than when it was brand new.
23:58
Doesn't seem to me as if it's depreciated enough, but having said that,
24:05
based on all the information we understand,
24:10
these things aren't depreciating as much as they had in the past,
24:14
especially a relatively low mileage five-year-old car.
24:18
And that is a low mileage five-year-old car because it only has 55,000 miles.
24:24
And an average mileage would be about 75,000 miles.
24:30
So the mileage is below normal.
24:34
The price seems a tad bit high to me,
24:38
but that doesn't mean you can't take a shot and try and get it for less.
24:43
Can we talk for a second about that price history, Dad?
24:46
Sorry to cut you off, but I mean, I'm coming down here to the price history.
24:48
They've already come down, but they haven't come down much.
24:50
I mean, 1,500 bucks since July.
24:52
Like there's margin built into the selling price, correct?
24:55
Well, there was, there's 1,500 hours less margin in that selling price today
25:02
than there was in July.
25:05
How much lower can they go?
25:06
A car dealer guy said, hey, margins are being compressed
25:12
just because they bought this car in July
25:17
and they own it for too much based on today's market
25:22
doesn't mean that they can still get what they're asking for.
25:26
It's simply because, well, we own it for X.
25:29
Well, you bought it for too much.
25:31
Well, let me put you on the spot.
25:32
What are you offering for this vehicle?
25:33
Again, they're asking $24,420.
25:36
What are you going to offer on this, Dad?
25:39
I would say somewhere between 22 and 22.7, somewhere around there.
25:47
What's the worst they can say?
25:51
You can see the algorithm we have.
25:54
The target price range is at 22,383.
25:57
My dad, a little more aggressive than that.
25:59
I like being a little bit more aggressive than that.
26:01
And a friendly reminder with Car Edge Pro,
26:03
you can use our AI agent to actually reach out to the dealership
26:07
and begin negotiations on your behalf.
26:09
So give that a try.
26:10
We've got the promo running there as well.
26:13
Shall we turn our attention over to the questions
26:16
that have been asked over in the community forum?
26:18
Well, we should, and we shall, and we will, and we are.
26:22
One more question, though.
26:23
How many 2023 or 2024 models are still in the lots?
26:26
Justin on our team was looking at this the other day.
26:28
There's like, I think he said 10% more 2024s on dealer lots today
26:32
than there were 2023s on dealer lots this time last year.
26:35
So there is more aged inventory out there,
26:38
prior model year inventory out there right now
26:40
than there was this time last year.
26:42
For those of you that are unfamiliar, we have a community forum.
26:44
I think it's over 40 or 50,000 people are on the community forum,
26:47
caredge.com slash community.
26:50
And every single week, Space, Mario on our team,
26:53
shares a question and answer thread
26:55
where we're going to go through each week and answer these questions.
26:58
So let's come here, Dad.
26:59
We'll go, excuse me, one by one from Anne first.
27:02
Thoughts on buying a used Toyota 2024 Venza Limited
27:06
that has a safety recall, the 12.3 inch display,
27:09
freezing issue with no software fix in time of purchase.
27:12
The other recall, the rear camera recall has a software fix.
27:14
Should a person buying a used car with a pending safety recall,
27:18
one that does not have a software fix yet, but supposedly is pending.
27:20
I know it's illegal to sell a car with an unresolved recall
27:23
and that used cars are a loophole.
27:25
We love the car, but don't want the hassle of the safety risk.
27:28
Talk about this, Pops.
27:30
Well, it's not necessarily illegal to sell a car with a unresolved recall.
27:39
There are stop sales for some recalls because the issue is so egregious.
27:46
A display freezing, to me, would be pretty egregious
27:50
because there's so many things that are controlled in those displays.
27:56
I would at least try and speak to a factory service representative from Toyota
28:06
to ask when they might anticipate that there is a fix for this problem.
28:13
And if you can get the vehicle with significant enough savings
28:17
and you can utilize the vehicle even though it has this issue,
28:26
if the savings are big enough and the anticipated fix is sooner rather than later,
28:32
then it might make sense to do.
28:37
Haven't we do things in the old days before we had these giant ass displays?
28:41
Let's go here, Dad, from Mario.
28:43
I'd like your guys' opinion on this.
28:46
A 2026 Mercedes GLC 300 factory order, AMG line night package,
28:50
exclusive package, interior wheels, paint, a few other bits of the factory order,
28:55
all in all, MSRP of $64,000.
28:57
With it being a, quote, luxury brand and factory ordered,
28:59
how does a discount of $1,200 sound to you?
29:03
So let's talk a little bit about when do I negotiate a factory order
29:06
and then, Dad, on a vehicle like this.
29:08
Mercedes-Benz brand that we know has a bit of an oversupply of inventory.
29:11
We've got $64,000 MSRP.
29:14
Are you feeling good about $1,200 off?
29:18
You negotiate a factory order the same way you negotiate a vehicle that's on the ground.
29:24
You know, we used to do factory orders at our BMW and MINI stores,
29:29
and discounts could be very sizable, 8%, 10%.
29:34
And the reason for that is because we knew the moment the car came in,
29:38
we were making all the back-end money, all the holdback money,
29:41
all the floor plan assistance money, all of the marketing assistance money.
29:47
So I would think you should be able to get 8% to 10% off on a factory order,
29:55
and they know they're still going to be making quite a bit of money
30:00
because they're turning it so quickly
30:02
that there will be no interest charges on their floor plan for that vehicle.
30:07
So yeah, you negotiate it as if it were actually on the ground now,
30:14
and $1,200 is nowhere near enough.
30:18
Yeah, I completely agree.
30:19
We have, for those of you that are interested, Google search factory order car edge,
30:24
and we've got a guide back on our website, how to factory order a car in 2025.
30:29
And then I will also mention our concierge service works for factory orders as well.
30:33
So for those of you that are interested,
30:35
we can handle the factory order process for you too.
30:38
Dad, let's keep it going here.
30:39
We've got from Chris,
30:40
what on earth is a running fee?
30:44
All right, here we go.
30:45
We've got $8,900 car price.
30:48
I love this because people still sometimes give us a hard time too.
30:50
Dealers write things down on a napkin.
30:53
This is some ripped paper.
30:55
$8,900 is the car price, $300 dealer doc fee, sales tax, plate, title, registration,
31:02
$150 running fee, $35 state inspection fee.
31:06
This is on a 2019 Subaru Ascent, $10,101.25 Thanksgiving discount, $9,900 total with the
31:14
This is the second time this week we've seen a handwritten smiley face and people still
31:18
give us a hard time about four squares and crap like this.
31:21
Dad, what is a running fee?
31:24
What are we looking at here?
31:27
What the hell is a running fee?
31:30
Is that the fee they're charging to run to motor vehicle on your behalf?
31:37
I'm thinking it's on running means you pay extra if it runs.
31:42
Is that the fee you pay to join the neighborhood running club and you're now going to start
31:55
Maybe it's $150 because the dealer was surprised that the damn car runs.
32:00
I think this is a good moment to remind everyone that if a fee is taxable, that means it's
32:05
What I mean here, it's hard to see in this breakdown, that being said, realistically,
32:10
the title and registration fees are not taxable.
32:12
That's coming from the state.
32:14
They're the ones charging.
32:16
The dock fee is taxable.
32:18
That would be the question I'd be asking here is, hey, that $150 running fee, is that a
32:22
taxable fee or is that something the state's charging?
32:25
If it's taxable, then you can negotiate it.
32:27
It's part of the out-the-door price.
32:28
If it's not taxable, it's not negotiable.
32:32
The state's charging you for that and that's what it is.
32:34
Definitely ask for some clarification there, though.
32:36
This is kind of chaotic to see.
32:39
Actually, whoever printed this, that has really good handwriting.
32:44
Very nice printing.
32:45
I would also ask for gravy on my mashed potatoes.
32:51
I'm currently looking for a used car in North Carolina.
32:53
Price for this Honda is $17,000.
32:56
It's not a clean title and reported as a theft, but no accident or damage.
32:59
What's the best price for this car?
33:02
Going to grab this VIN here.
33:04
Let me come back over.
33:05
We had this tab open for the Car Edge.
33:18
I wonder if the car sold.
33:19
I'm starting to think the car sold.
33:24
You know, and it's got a branded title which negatively impacts the value of the vehicle.
33:32
Even though it was only a theft and no damage was reported, the fact that it is not a clean
33:39
title does impact the future value of that vehicle as far as, well, if you were to ever
33:46
go trade it in somewhere for another vehicle.
33:49
So I just Googled the VIN and like this is the page that comes up, which looks super
33:55
Also, this looks like it's at some sort of like copart, almost like auction.
34:00
Could be, you know, where where recovered stolen vehicles get stored until they get
34:10
Yeah, I don't know.
34:11
Just something about this feels like off to me.
34:13
So I think when you don't have a clean title, that's like a big, yeah, big.
34:19
Oh, Mario says he put the details below.
34:26
MMR clean is $21,900, retails at $25,000.
34:30
Want to know what a fair retail value would be with a branded title?
34:33
Yeah, because it's sold at auction for $10,800.
34:36
I mean, what do you think, Pops?
34:40
Igor saying 50% or less in value.
34:44
Yeah, I'm afraid so.
34:46
That's that's the way car people look at it.
34:49
So if it retails at $25,000, it's worth no more than $12,500.
34:53
Yeah, 12 and a half.
34:55
Something like that.
34:57
Don't be buying salvage title vehicles, folks.
34:59
That's our humble advice here from Robert.
35:02
Thank you for that, Mario.
35:03
Thanks for the screenshots.
35:04
I'm looking at getting a new 2026 Subaru Outback Touring XT.
35:08
It looks like all the cars in my area are still in transit.
35:11
I'm wondering how much of a deal you can really expect as it's a redesigned year.
35:15
Inventory is low and basically non-existent at the moment, I guess, where they live.
35:18
But we are at the end of November heading into the holiday season and end of the year.
35:21
They get the real prices showing $100 showing less than $100 over invoice.
35:25
If they are flying off the showroom floor, is that even reasonable?
35:28
Lots of great info in the videos and online.
35:31
So, Deb, highly in demand vehicle where this person is, is it realistic to be shooting for
35:35
invoice price or a couple hundred dollars over invoice price on a brand new vehicle like this?
35:40
You know, typically dealers try to
35:45
try not to be quite as motivated when a brand new redesign comes out.
35:50
Doesn't mean that if a dealer is trying to hit a year-end sales goal and what you're looking for
35:57
will be coming in between now and the end of the year and it would be able to count as a
36:04
sale for this year that they might need.
36:06
It doesn't mean that you can't work a deal.
36:10
It's just going to be a little more difficult.
36:13
But I know that they went up in price quite a bit because it's a completely redesigned model.
36:23
So, I don't know how strong the demand is for those just yet.
36:31
Here's some space in our community, Dad.
36:33
Everyone is getting hot deals on Subaru's even on the ugly 2026 Outback redesign.
36:38
And I want to pull this up from James, who's been with us all day today.
36:40
Dude, I got below invoice on a 2026 and they haven't even started making them yet.
36:44
He's talking about F-150 plus rebates and dealer discounts.
36:47
So, yeah, I do think even though it might feel aggressive because of market conditions,
36:51
there's an opportunity there with the Subaru Outback to be able to still get something
36:56
at or near invoice price.
36:58
Let's keep it moving.
36:58
Pops from Brian here.
37:00
I'm looking to buy an SUV or car.
37:01
Is there a list of vehicles with adaptive suspension?
37:03
I tried googling adaptive suspension, but the list is incomplete.
37:08
Oh, I don't think I have a good answer for this.
37:10
But, well, I know I don't have a good answer for this.
37:15
I don't even know who's offering adaptive suspensions anymore.
37:21
The last ones, every time I saw a vehicle with an adaptive suspension, the only reason I noticed
37:29
is because the suspension had given way and the damn thing was like the ass end of it was real
37:35
low because, well, the suspension wasn't working properly anymore.
37:39
So, yeah, I have no idea.
37:43
Wish we could be more helpful.
37:44
That's something maybe like AI can help with.
37:46
I really don't know.
37:49
I'm currently negotiating with a dealer on a 2021 Toyota RAV4 Hybrid Limited.
37:53
I saw that the car was already being offered at the low end of KDB's fair market value
37:58
on the base price, so I didn't negotiate that.
38:00
And instead, I just pushed for them to remove the add-ons, $2,000 in add-ons.
38:04
Did I do the right thing or could I have asked them to go from $31,888 to $31,000?
38:10
I'm most likely going to buy the car if it clears the PPI.
38:12
But I wanted to learn for next time.
38:14
This is actually, and I see Space here asking for the VIN.
38:17
Unfortunately, we didn't get that.
38:17
But I do think that this is a fantastic question because this is why we preach out the door price.
38:23
Yes, and what I would recommend just for poops and giggles is if that gentleman has the VIN,
38:40
if they have the VIN, put it into the CarMax car offer on our website and find out what CarMax
38:47
would pay you for that vehicle.
38:48
So that'll give you some idea as to what they think the wholesale value of that vehicle is.
38:54
And that would either confirm or reject your theory as to how you're trying to
39:02
approach the pricing of it.
39:03
The fact that there's $2,000 worth of add-ons on a used vehicle is absurd.
39:11
So that's just a tactic for them to raise the asking price.
39:16
That's what allows them to advertise it at what they think is a cheap price
39:19
because they know they're going to add $2,000 worth of stuff.
39:24
So, Dad, I don't see this one the same way as you.
39:26
I don't think going to CarMax has anything to do with this.
39:28
I don't think getting an offer has anything to do with this.
39:30
The question is, if I were to do this all over again, did I negotiate the right thing?
39:34
Selling price versus add-ons.
39:36
You negotiate the out-the-door price.
39:37
That's honestly what Salish did perfectly here.
39:41
They did this perfectly.
39:42
Hey, you get the out-the-door price, out-the-door price, to your point.
39:45
Now, it's $2,000 more than what they had advertised online.
39:49
It doesn't matter where you get the $2,000 off from.
39:51
They can actually keep the $2,000 in add-ons on the vehicle but then reduce the selling price by $2,000.
39:56
This is the follow the...
40:00
It's the magic trick.
40:01
And so for Salish, I just want to be really clear here.
40:04
I think they did great.
40:05
They negotiated probably the easiest thing to negotiate because getting a dealer to go
40:09
down $2,000 on their selling price and then keep the $2,000 add-ons, that's just a little wonky.
40:16
Is it a fairer price?
40:17
That's a different question.
40:17
But did you negotiate the right way?
40:19
I think you negotiated the right way.
40:20
You did a great job.
40:21
Yeah, it felt right.
40:24
Hey, glad you agreed.
40:30
Let's see here from Lori.
40:32
Good morning, guys.
40:32
Do you help with car buying over in California?
40:37
We can help you out wherever you are.
40:40
Dad, let's do a friendly reminder to everyone that we have our Black Friday promo running now
40:46
We're running it all the way through, let's see here, for another three days, 20 hours,
40:52
So take advantage of that back at caredge.com.
40:55
If we can assist you with anything, we'd be thrilled to.
40:57
We'll be back on Monday with more Car Edge Live.
41:00
We've got a video dropping over on the main Car Edge channel tomorrow, a really kind of
41:04
boring but educational video on how to negotiate your year-end car deal.
41:08
Please check that out.
41:10
Hope everyone had a good Thanksgiving yesterday.
41:12
We're going to enjoy a nice weekend.
41:14
We're going to try, that's for damn sure.
41:18
I know I had a lovely Thanksgiving.
41:21
I ate too much turkey, too much stuffing, and too much mashed potatoes, but that's how
41:28
We'll see you on Monday.
41:30
Love you too, handsome.
41:31
Thank you, everybody, for being here.
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Have a great weekend.
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