Used car prices are what people have to pay for cars that aren’t brand new. If prices jump fast, it usually means there aren’t enough cars available for buyers.
When there are fewer used cars available than usual, sellers can charge more. Even if the supply improves a bit, prices may stay high if buyers still want cars.
It means the situation is at its worst point in the data they’re looking at. Here, it suggests there were unusually few used cars available, which can raise prices.
Car prices can change depending on the time of year. Sometimes that’s because more cars are for sale at certain times, and buyers are more or less active.
Affordability is about whether most people can actually afford the prices. When cars get too expensive, buyers may have to stick with older cars longer, which can affect used-car supply and demand.
A used car shortage means there aren’t enough used cars for people who want to buy them. When fewer new cars are made, fewer people end up trading in their cars later, so the used-car supply stays low.
Cars need computer chips to be built. When chip supplies were tight, manufacturers couldn’t make as many cars as they planned, which later reduced the number of used cars entering the market.
A trade-in is when you give your old car to the dealer when you buy a newer one. If fewer new cars are available, fewer people trade in their old cars, so there are fewer used cars for sale.
This is basically how long cars tend to stay in use before they get replaced. If cars last longer, fewer used cars show up for sale, which can raise prices.
When a car lease ends, the car usually comes back and can be sold as a used car. If fewer leases end (or fewer cars come back), there are fewer used cars available, so prices can go up.
When there aren’t many used cars available, sellers can charge more. If fewer people are turning in leased cars, the used-car market gets even tighter, so prices jump.
The Ford GT is a very fast, special sports car made for performance. It’s not a typical daily driver—it’s more about speed and advanced engineering. Because it’s rare and expensive, it often gets mentioned when people discuss high-end cars.
The Chevrolet Equinox is a compact SUV. They’re using it to show that even fairly newer SUVs can have surprising value changes when you look at mileage and depreciation.
The Chevrolet Avalanche is a pickup-style vehicle. They bring it up as another used-car example while discussing how much different cars have depreciated.
Term
MS
“MS” sounds like they mean the original sticker price a car had when it was new. That sticker price is often used to figure out how much the car has gone down in value.
CarMax is a company that sells used cars. The point here is that their prices are usually pretty straightforward, so it’s a good place to compare what used cars cost versus what they originally cost new.
The Toyota Sienna XSE is a specific version of the Sienna minivan. In this discussion, they’re pointing out that a used Sienna can be priced higher than what it cost new, which is unusual and shows how expensive used cars have become.
MSRP is the price the car was originally supposed to sell for when it was new. They’re using it as a benchmark to see whether used cars are still selling for close to (or above) that original new price.
The Toyota 4Runner is a rugged SUV that tends to hold its value. In this segment, they’re using a fairly low-mileage, older 4Runner to show that even used prices can stay close to the original new-car price.
An electric scooter is a small scooter you ride that runs on a battery. The point here is that some people may switch to scooters instead of buying a car.
This means banks are more willing to lend money for car purchases. If more people can get financing, more cars can sell and the market doesn’t stall as much.
Cox Automotive is a company that studies the car market using lots of data. Here, they’re used as the source for monthly updates on how easy it is to get auto loans.
Year-over-year means “compared to the same month last year.” The hosts use it to tell whether the market is improving or weakening versus last year.
Concept
captive finance
Captive finance refers to financing companies owned or closely tied to an automaker, often used to offer dealer and customer incentives. The segment contrasts “non-captive new” strength with captive channels to interpret where demand and financing are coming from.
Concept
Franchise used
Franchise used cars are used cars sold through brand-affiliated dealerships. Those dealers can have different pricing and financing than independent used-car lots.
A 60- or 72-month loan means you pay the car off over about 5 to 6 years. That can lower the monthly payment, but it also means you may still owe money even if the car needs expensive repairs.
A major repair is a big, expensive fix—something that can cost a lot of money. The worry is that if the car breaks and the buyer can’t afford it, the loan can turn into a problem.
They’re pointing out a mismatch: taking out a long loan on an older car. If the car needs big repairs, it can become hard to keep up with payments, which can lead to repossession.
Concept
auto loan approval vs best decision
Just because a bank says “yes” to a car loan doesn’t mean it’s the smartest choice for your situation. The episode is basically saying you should compare new vs used and think about repair risk, not just approval.
They’re talking about doing a real comparison between buying new and buying used. It’s not just the sticker price—wait times and the chance of costly repairs matter too.
The Dealer Transparency Index appears to be a rating or scoring system used to identify dealers based on how transparent they are with pricing and fees. In this segment, it’s positioned as a way to find an “A-rated” dealer to reduce the risk of surprise add-ons.
Repossession is when the bank takes the car back because the loan payments aren’t being made. The hosts are saying that happens more easily when an older car suddenly has expensive problems.
In car finance, being “upside down” is the everyday way of saying you have negative equity—your loan balance is higher than the vehicle’s current market value. It’s a common reason people struggle to sell or trade cars.
Concept
private individual
Selling to a private person means you sell your car directly to another driver, not to a dealership. The hosts say this can sometimes get you a better price.
Price transparency means the dealer shows the real total price clearly, not just a starting number. It helps you compare deals because you can see the extra fees and add-ons too.
Concept
price compliance
In the auto industry, “price compliance” refers to following pricing rules and accurately representing what buyers will be charged. The segment frames it as part of broader efforts to ensure dealers don’t mislead shoppers with incomplete or inconsistent pricing.
A dock fee is an extra dealer charge tied to getting the car to the dealership. It’s usually added on top of the car’s base price, so it can raise the final total.
Out-the-door price is the final total you pay to get the car. It includes the car price plus things like taxes and dealer fees, not just the advertised price.
LIVE
It's noon here in Ventner City, New Jersey in our nation's capital, Washington, D.C.,
and this is Car Edge Live for Monday, May 18th. With your hosts, me, Ray, hanging out in my
living room. Well, we're in a hell of a house. Do I ever hang out? And will Zach hang out with his
life ring for another day or so? How are you today, handsome?
It's fantastic. Happy Monday, everyone. It is definitely a case of the Mondays I had our show
scheduled for 1.40 p.m. Eastern time. We just fixed it, so sorry about that, y'all. Hopefully,
everyone gets to tune in at some point today. Today's show is brought to you by CarEdge.com.
For those of you that are unfamiliar, me and my dad have been on a crusade to bring transparency
to the car business for the past six years. Learn more back at CarEdge.com. And in particular,
Pops, if you're not using our dealer reviews, I encourage everyone to use the dealer reviews
please. Go find some dealers based on how transparent they are. Maybe some dealers to
avoid would be the ones that add all sorts of add-ons to their online advertised prices.
Some A-rated dealers out there, some of the good guys, no add-ons, normal dock fees, etc., etc.
Go learn more back at CarEdge.com. Now, Dad, the big story this morning I want to talk about,
used car prices, the latest data. One second. I want to say one thing. Every day you get on here
and you promote that aspect of CarEdge. And there is a certain aspect of CarEdge that is so valuable
and we forget to mention it. And that is the forum, the community forum. And the mayor of
that community forum, Mario Space. And we both received a text this weekend reminding us of how
valuable space is and everything that space does to help people navigate their car buying,
purchase, lease, whatever, the amount of patience that he has, the amount of knowledge that he has
is off the damn charts. And we hardly ever, ever talk about that. And it is such a valuable
aspect of what we do, of what is available to people that is absolutely free. And I'm not
saying it because it's absolutely free. It's because it's where people get together and share
share ideas, share tips, review deals, help each other out so that it can make buying a car easier
for everyone. And I just think that we would remiss in not mentioning it often enough. And
without thanking all the community champions that are on there that are helping out Igor,
just everybody, Mario, everybody that's on there that's helping on a daily basis. It is
an incredible resource that I'm not going to say we neglect. We just neglect dimension it.
Thanks for bringing it up, Dad. Yep, community.caredge.com or caredge.com slash community.
I'll take you right there. Grateful for everyone that contributes over there. So many fine
and good people that help one another on the community forum. Also, today's justice is
birthday. So justice, he helps birthday judges, tons of people as well in the carriage community.
And he deserves his birthday wishes. Dad. Yes. Used car market. We need to talk about it because
that is the title of today's show. Prices are skyrocketing. Used vehicle inventory recovers
from record low levels increases in April as sales moderate. The chart on this page
that blows me away. Go down to it. Wait for
Average used vehicle listing price. You ready for this? This chart shows you from 2022 to 2026
every single month the average used vehicle listing price. The dark blue line is 2026.
Okay. You ready? Yes. Well, well, that thing is getting up, man.
Well, you know, I was going to say, I won't even say it. Don't even go there. But Dad,
it's getting up. Look at that. Look at the slope of that line. What you are looking at again, folks,
is a chart that shows 2022 to 2026. Every color you can see it. It's to the, what is that? The
right of my face. You can see every color is a different year. And it's every single month.
I know we're covering the months, but this is showing you from March to April what happened
to used car prices. They're going up. The highest we've ever seen. I mean, it looks comparable
to what happened in 2022 around that time. I mean, it's been five years since we've seen something
like this. Yeah. And the amount of increases staggering in how quickly it has happened.
It does not bode well for people out there, people that are looking for affordable transportation.
It just got more expensive, whether it be new or used. It bodes well in the sense that if you
have a car to sell, okay, great. It keeps appreciating in value. This feels eerily reminiscent
to a time when you and I started CarReach back in 2020. Used car prices are on this roller
coaster ride seemingly up and to the right. So that was the first chart here that just, again,
I was like, I had to sit down. I was like, wow, I was not expecting to see that sharp of an increase.
Now we know there's seasonality in the used car market. This is why it happens from time to time.
But look at the seasonality of 2025 or of 2024. Ain't looking nothing like what we saw this year.
If I scroll back up that, interesting dynamic in the used car market is as such. There's no
inventory. There's not enough. And we've been talking about that for years. Yeah. There's the
lowest levels of inventory that we've seen in the past five years right now. Did inventory rebound
from March to April? Yes. Yes. What made up that rebounded inventory? A lot of repossessed vehicles.
So that's interesting. But we have lower levels of used car inventory now than ever before. I mean,
last month was the low point, but still we're well below where we were in 2022, which was the
prior low point in 2025, in 2024, and in 2023. And you can go back then and you can look in the
history clocks and like, we should have more vehicles. Like we should have more cars in the
used car market because when we don't, we have what we see with prices, which is they go up.
And we have been talking about this. We've been talking about two things pretty consistently
for the last four or five years. One was affordability, both for new cars and used cars. And we
started talking about that probably five years ago, where the prices went up so quickly
that vehicles became unaffordable for a vast majority of Americans. Definitely.
And then the other thing that we talked about was that there is indeed, and in fact,
a used car shortage. And that used car shortage because of the 10 to 15 million new vehicles
that were scheduled to have been built after the pandemic that were not built because of the
chip shortage. That means there were 10 to 15 million new vehicles globally that didn't get
sold, which means that there were trade ins that didn't happen, which means that there were more
used cars in the market or less used cars in the market than there should have been.
And I think it was four years ago or five years ago where my prediction was that this is going to
last for the decade. And so far, that prediction seems to hold water. Definitely. There is,
you know, one of the joys of selling cars for a living is when people would come in and they
would look for pre-owned cars, and then they'd tell you exactly what they wanted, as if you could
just call the used car factory and order the damn thing. There is no used car factory,
so there is no way to dramatically increase the availability of used cars. The average
length of owner or on road for vehicles today is 12.8 years, 12.8 years. And that's,
not going to go down because of those missing used cars that aren't out there. And we have fewer
lease returns than we've had, so it is just, it is compounding itself. And as long as that
remains the case, we are going to see spikes in used car pricing, asking prices like we saw
in April. It is an unfortunate happenstance, and there's no way to really change that.
I mean, the new car factories can get, you know, kicking off more vehicles, and then eventually
there'll be used cars in the market. But yeah, I think you're spot on, Dad. What I want to look
at next, you know, obviously we have prices going up. That's like the key piece here. I want to look
at what you can see here, Dad, which are the brands that make up the majority of used cars. And I
want to do a little analysis with you here. Newverse is used. So we've got Ford, Chevy, Toyota,
Honda, and Nissan. They're the top selling brands accounting for more than 50% of all used vehicles
sold. Let's do my favorite thing. I love doing this on the show. It's live. So let's see it.
Where in the country should we go for this analysis, Dad? Where do you want to go?
You know, I hear Omaha's nice. I've never been there, but it's pretty much
the central part of the country. All right. Give me a second. I need an Omaha zip code.
So I, well, that I can't help. 68104. All right. So now we're in Omaha.
Yeah. We're looking at used cars. And back to our research, Dad. It said 50%, more than 50%
of used cars sold right now are Ford, Chevy, Toyota, Honda, and Nissan. Which one do you want to
look out first? Chevy. There's a Malibu right there. Chevy Malibu. All right. I want to do,
let's do... Oh my God. That's an eight-year-old, nine-year-old Malibu with 132,000 miles on it
for $12,195. And that car knew if I were to guess. And I'm just guessing. Don't show me that number
yet. I'm guessing that car was around $20,000, $21,000, $22,000, and max.
It was $28,000, Dad. Okay. I'm off. I must be off my meds.
58% depreciation. That was the thing I wanted to look at here. It's like, how much have these
vehicles actually depreciated since they were brand new? So this is to your point, this is an
nine-year-old Chevy Malibu with 132,000 miles on it that is selling for with $16,000 worth of
depreciation. Let's look at some more recent examples because I think that's where things
get more interesting. Sure. Let's go Chevrolet. I'm not going to worry about the model. I don't
want 2007. Why not? All right. I want something newer. We'll do this Equinox. Okay. It's coming
soon. Coming soon. I don't even have images yet. Oh my God. $17,000, and it already has almost
100,000 miles on it. It was never in park? Is today the first day it's ever been in park? I mean,
come on. 43% depreciation. Think about that for a second. It's got 100,000 miles. It's crazy
amount of mileage on that age vehicle, and it's only depreciated 43%. Let's do one more Chevrolet.
You want to do this Avalanche? Oh, come on. That's a 19-year-old Avalanche. I mean...
Original MS? Oh, dang. We don't even have the original MS. I think that's a bomber.
Wonder if the pictures have been touched up. Let's do the Toyota. Okay.
2014, RAV4. Yeah. And they're asking $17,500. It's only got 55,000 miles.
43% depreciation on what is that? The 12-year-old Toyota RAV4?
Yeah. Yeah, sure. With only 50,000 miles, I'd love to see the car facts.
Doing this type of analysis instantly, I think, starts to paint the picture that these are very
expensive for what they are used cars. It is... Let's just make it simple.
Let's make it simple. There's no such thing as an affordable car in this country anymore.
Not a decent car. Nissan Versa, Chevy with like a brand new Equinox or...
I thought you were going to say with a brand new engine.
Which it could be. But the sad reality is, is there's just no affordable, decent car. I mean,
a five-year-old car with 100,000 miles are. I mean, come on. And it's lost 43% of its value?
I don't think so. Yeah, that is pretty... I mean,
we didn't even do it. Let's do it, actually, because it's very amusing to me.
Let's go ahead, Dad, and let's go back. And let's actually come down here dealership.
And I want to find the local CarMax. Yes.
CarMax of Omaha. Look at that.
So CarMax of Omaha has what would it say, 42?
Yes. Toyotas for sale right now.
Yes. And I want to sort by price.
Look at that. And this is where I'm curious. Do you think this Sienna is selling for more than
its original MSRP? It's an XSE. I'm assuming it probably is or very close to original MSRP.
Above MSRP. By four grand.
Like almost $500. Like this is when you start to look at... Because again,
what I'm trying to do here is the new versus used. What's the better value? And you're just
saying there's no good values? No, I didn't say there's no good values. I said there is no decent
affordable cars, new or used. They don't exist anymore. I mean, it's crazy. This is crazy.
This is what... All right, so let's look at this forerunner. So this is what a seven-year-old
Toyota forerunner with 53,000 miles. So low mileage...
Low mileage for the year really is.
And they're asking 37. Oh my gosh.
Yeah, it's 3% below MSRP. I don't know. My bananas depreciate faster than that.
That's crazy.
Yes. And the sad reality is that someone will go into that car max in Omaha and buy that.
Because A, it's pretty much hassle-free. There's no negotiation. You're dealing with a salesperson
that's salaried. So there's the ease of doing business. And the joy of probably paying more
than you should. But that's the reality of the car market right now. So how does that change?
I mean, since there is no used car factory, perhaps somebody should create one. I don't know.
But since there is no used car factory, since we can't order half a million more used cars,
how is it ever going to ride itself? Where... I think scooters and elect... And I'm not trying
to be funny. Every now and then I watch HGTV. I don't ask me why, but I like to watch people when
they're looking at homes and they have their three choices. And I always pick a different
home than they do. But that's a story for another day. But when they do internationally and they
go overseas and they go to Thailand or somewhere else, and everybody's on an electric scooter
or a gas powered scooter or a Vespa or something like that. And it's just everybody's on a two-wheel...
There's very few cars, but there's an incredible poop ton of Vespas and e-bikes and things. And
that is, I'm afraid, where we're headed because how are people supposed to be able to find quality
vehicles? A quality vehicle is not a 15-year-old vehicle. It might have been a quality vehicle
15 years ago before it had 15 years worth of use and abuse, but it's not a quality vehicle today.
So it is just... It is beyond me how we are going to write the ship for the vast majority of people
who need some form of transportation. And I know there are plenty of people out there that are
most people can't afford to take a robotex. That's a luxury for people.
So how are we going to write that ship? You can get back on screen.
Somebody even said that it's inconceivable.
You know, was that from the Princess Brian? It's inconceivable. And people say,
I sound like Wallace Shawn. Who is the one who said it's inconceivable? But did you ever think
that perhaps Wallace Shawn sounds like me? Okay, that it's the other way around?
All right. So here's one way, Dad. We didn't talk about it last week,
but it is an important part of this situation. One way to keep the merry-go-round running to
make things affordable is make credit more available. And so that's what's interesting
is we get these reports once a month from Cox Automotive. How do credit availability
inches higher in April, despite pullback and subprime lending? Availability of credit increase.
We actually saw an increase. I'll pull up here. The approval rate for auto loans rose to 71% in
April up from March's lower read of 70.4. What's fascinating here, Dad, there's all the normal
suspects in it. But what I'm very interested in is trends on the used car side of things.
So the most notable year-over-year improvements were an all-new and non-captive new indicating
continued strength in the new vehicle segment. Franchise used and independent used also posted
solid gains while all used improved broadly. CPO saw a more modest year-over-year improvement.
It's a lot of jargon, but what that says is the availability of credit to buy new and obviously
used cars improved last month. It became more accessible for people, which makes it
an ongoing merry-go-round, like the lights stay on, the motor stays on.
There was a time in my career legitimately, not that many years ago, 10 years ago, 12 years ago,
15 years ago, whatever the hell it was. But it's not really the distant past. We're not looking back
and getting on the way back machine, where a car that was seven or eight years old and had 100
plus thousand miles on it, that a bank wouldn't even finance it.
Really?
Really. Okay. Or if they would finance it, it was for a short term. Today, if you look at those
cars that we were looking at, some that were 15 years old or nine years old, some that had 120
some thousand miles on it, whatever it is, today, you can probably get a 60 or a 72-month loan
for one of those vehicles.
Now,
Can we explain why that's just like a bad idea for everyone involved? The bank, the customer,
why is that a bad idea for everyone?
Because when it blows up, okay, when the engine goes or there's a major repair that's necessary,
the people that find themselves in those kind of vehicles typically don't have the funds
to take care of that major repair. So they have to make a choice. Do I continue paying for a car
that doesn't run? What do I do with it? So it's just you are, when you do that to people,
you are setting them up for failure. Okay, because everybody knows if you're
financing a 10 or a 12-year-old car for five or six years, everybody knows it.
The customer who bought it knows it, the dealer that sold it knows it, and the bank that financed
it knows it, that there's going to be an issue with it that the people won't be able to handle.
So why put them in that position? So I think it's really important for our audience dad to know
and to be reminded by you that just because you can get approved for an auto loan doesn't necessarily
meet its best decision for you and to really do the calculus of new versus used. We look at some
examples today at CarMax, for example, that Toyota Sienna is $4,500 more expensive than the new
comparable one. To be clear here, you might have to be on a wait list for two or three months on
the new comparable one, and you might find some unscrupulous folks out there who try and charge
you add-ons and extras and things like that. This is why we're so proud of the Dealer Transparency
Index. Find an A-rated dealer, work with them instead. This is what's so fascinating about this
month, just because you can get approved on that 2025 Toyota Sienna as a used car. That's maybe
a slightly different example, but on the 2018, I don't know, 14-1 as 12 years old, I think this
really hits home. For all the people that sign up for five and six year notes for 10,
11, 12 year old cars, nine whatever it is, those are the people that are
because they're desperate, are basically keeping the used car industry moving forward.
Well, you're going to take those people out of the market because they'll never ever be able to
buy another car after this one blows up and they get another repossession. It is such a short
sighted approach. The bank, the dealer, they're all thinking, okay, there's this short term profit.
Yeah, sell the next car, loan. Where's the long term thinking?
How am I going to replace this customer three years from now when their car explodes? Because
I'm not going to be able to. Where's that next customer coming from?
We see it in the data. There's two things I wanted to pull from this report. One is for
Lenders Dad. There's actually been a retreat. Month over month, there were fewer loans made to
those that have subprime lending or some private credit, which is generally speaking a good thing
from a risk perspective. But the subprime share remains 370 basis points above last year's level,
so significantly higher than last year. There's an all time high in loans exceeding 72 months
right now, which is a huge risk for the auto industry. You mentioned it a moment ago,
people get out, taken out of the market. Well, look at this. This is the loan terms
reaching the all time height. They're almost 30% of loans are more than 72 months right now
and combine that with negative equity that is 540 basis points higher this year than it was last
year. We know from Edmunds data that many people are over $10,000 upside down on their car right
now, which again, another takeaway, if you're listening to today's show and you're contemplating
being in the car market, when you go to sell your car, don't just take the first offer the dealer
makes to buy your trade-in or even don't even think of it as a trade-in. You're selling a car
and you want to buy a different... There's just so much important nuance here
that the numbers all validate that if you don't do your homework,
it will end up costing you because a lot of people right now are in this predicament.
And it's only going to get worse. And truly, if you have a used car that you are able to get rid of,
you have a relatively hot commodity lead. You do have a hot commodity right now.
Okay. So you could, like I mentioned last week, create an auction between
dealers in your area to try and see who will pay you the highest price
if you want to sell it yourself to a private individual because...
Do the legwork right now. If you're going to sell a car, do the legwork because that's where you
have the leverage. And again, we know most people or not most people, a growing subset of people
have negative equity. And that negative equity could be even worse if you don't get top dollar
for the car that you're selling. What a time. All right. One more thing I wanted to bring up
today, Dad, but relatively quickly here, which is... Yes. There is a huge push going on, y'all,
for price transparency in the auto industry. Just today, as I was pulling up resources for
today's show, you can see here on CBT News, which CBT News is really a cool industry. Yeah,
covered car edge way back when. I'm going to pull that up. A year ago. Yeah, about a year ago,
which again, I load that page, joined Senator Bernie Mourinho and other leading industry voices
for the Auto Leadership Summit on Fair Pricing and Compliance. I hope they have either of us there,
Dad, because a year ago, at March, car edges, Zach and Ray Sheffsgar transforming car buying
through transparency. There is... I wasn't invited to this, but I just registered today.
There is a lot of energy right now, Dad, for price transparency in the auto industry. On
June 16th, I will be at this event, so I'll share what I learned from that. Again, it just
further reinforces the work that we're doing over here. Again, caredge.com slash dealers
and under dealer reviews. Every dealer that we grade here, y'all. For example, if I come down here
to auto boutique, I can see why they earn their F grade. Their dock fee is $1,298. That's $903
above the average in Ohio. On 81% of quotes we've received from this dealer, they have add-ons,
averaging $647. On average, their quoted price, once you actually ask for the out-the-door price,
is 7.3% higher than their online advertised price. That being said, when we've negotiated with them,
they have discounted the price. You can actually see the receipts right here. You can scroll down
and learn more about that as well, what add-ons they add, et cetera. We're doing our best here to
try and clean up the auto industry, but I'm just sharing. There's a lot of energy right now going
into this. I'm very excited to see what comes on the other side of this. Obviously, we're going to
keep pushing. Absolutely. There's no reason to stop pushing, not until it all changes.
It's worthy. It's worthy. All right, folks. We're back tomorrow with more Car Edge Live.
We appreciate you all tuning in. Dad, enjoy the afternoon. Are you going to get a walk in?
Yeah, I have things to do. I actually have a pretty busy afternoon, but yes. I plan on,
after my last phone call today, sometime after three, to get a walk in. I need to go over and pick up
one of those money-holding graduation cards. Yeah, I got to get a graduation card too.
So, I'll pick that up and then walk a few extra blocks, just for the hell of it,
because I'm starting to try and build up my stamina again. Love that, Dad. All right,
we'll enjoy the afternoon. Have some fun and I'll catch you later on. Absolutely. Love you,
handsome. See you guys. See you back here tomorrow. Happy birthday, Justice. Yay, Justice.
About this episode
Used car prices are climbing to record highs, and the hosts connect the surge to tight supply: “there is indeed, and in fact, a used car shortage.” They walk through inventory and listing-price trends, explain how chip-shortage fallout and long vehicle lifespans reduce trade-ins, and compare depreciation and CarMax pricing versus MSRP. The show also tackles affordability and risk, noting higher loan approvals but warning about long terms, negative equity, and dealer add-ons that can inflate the out-the-door price.
Today on CarEdge Live, Ray and Zach discuss the latest used car market data. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
for information about our collection and use of personal data for
advertising.
