Ryan Felton
speaker
131 appearances
3 recordings
1 series
first heard May 2022
last heard Nov 2024
Ryan Felton’s voice in public audio — every appearance, attributed to the second.
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Appearances
So used car pricing has tapered off in terms of not wildly increasing the way that we have been seeing over the last couple of years.
But similar to new cars, it's not dropping back down to levels we saw prior to the pandemic.
It's just leveling off at this more elevated dollar amount.
So similar to new cars, it's a hard market.
You got to be willing to be either patient or just be open to looking for something because it's still kind of a hard sell at the moment.
there's going to be a new normal in the sense that cars at least for the the near future the next few years they are just more expensive and it's tough because there is definitely a lot of folks who used to be in the new car market who bought cars that were 20 to 25 000 in our story we mentioned that a decade ago there was nearly 20 cars that priced under 20 grand today there's four
So it's tough because there are people who are in the market for that kind of price range and the options are just so limited.
There are some signs that they're stressed, but at least for now, I think the expectation is that things are just going to be a little bit more expensive.
Yeah, I hope so.
The sense that I got in talking with analysts and folks who watch this industry is that at some point there's almost certainly going to be some automaker or some brand that bites and starts to provide more promotional financing deals or leasing deals to try to capture more of the market or introduce more entry level models to go after a larger share of the market.
The sense was when someone finally does bite and really makes a big play for that, it's just going to goad everyone else into doing the same sort of thing.
So for now, it's like this sort of stalemate or game of chicken.
But I think the expectation is that at some point someone's going to realize like, well, gee, there's really is this big opportunity for the lower priced part of the market and go for it.
And then at that point, I think you may start to see better deals come about.
It's just waiting until that happens.
which isn't necessarily good news.
avoid limiting yourself if you can.
And by that, I mean, don't just try to go to one dealer to get the one type of car that you want.
Maybe there's like five or six different dealers around your local metropolitan region of the same brand.
You might find a better deal at one spot an hour away from one that's closest to you.
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