Also in this playlist...
This transcript is automatically generated
Where look out for you tonight -- we do every night.
And getting a deal on your next car can seem impossible but they're out there even for used cars so how -- -- do that Kelley blue book senior analyst Alec Gutierrez is here to give us his insight.
Alec welcome back to the show so yeah.
It's interesting to me I can't believe how much cars -- -- It's just astonishing to me that in such a short period of time.
We now pay -- -- used to pay -- house but so be it isn't a good time now to buy a used car.
You know it is and in fact both new -- car pricing remained very very strong the average new car's gonna set you back.
Little more than 30000 dollars well used -- gonna run you about 101000 dollars cheaper about 21000 dollars.
What immediately can tell you is that over the last couple of years we've seen the strongest used car market we've seen.
Really ever in the last 1020 years you name it -- but right now we're starting to see.
It is it's part of the economy it's part of it's really tied to the fact that there's been -- used to use parts supply shortage which has resulted from.
The significant cutback in new car sales in the last couple years -- finally starting to -- used car prices come down a little bit in fact.
-- beer prices are down about 2% so -- now is definitely a much better time to buy a used car vs the last ten.
And we -- expected to get even better as a summer wears on I mean how do you time this thing.
Well like like lot of things in the industry the used car market is is very very seasonal in fact right now usually in the spring market as -- when prices are close to their highest.
They have been using in the last month or so but.
And ultimately the best car prices you're gonna find -- going to be towards the latter part of the summer months and especially as you get into the third and fourth quarter that's when used car prices are the most affordable.
Well let's talk about some of the cars that you think -- a good deal right now used.
And starting with the Honda Accord LX tell us about that.
-- right now -- actually just released a brand new record for the -- when he thirteen model year since setting the sales charts on fire right now.
So those looking for a great deal -- look at the previous generation used to court and in fact.
A 2010 models gonna set you back about 151000 dollars overall -- is not 101000 dollars cheaper than a brand new model.
And as we know with any Honda I mean this thing's gonna run for a 10050000.
Miles pretty easy so that's that's a great deal for someone looking for a used car.
Talk to me about the -- you're on OS out.
Similar to the Honda the Murano has been doing quite -- -- the sales.
A brand new -- is gonna set you back about 35 maybe 37000 dollars depending on the configuration.
You look at -- 2010 model with maybe 3040000 miles you're gonna save at least ten to 151000 dollars you're looking at about 20000 dollars.
Found -- -- between ten use model and that's about a thousand dollars cheaper than we've seen -- -- -- so it's a great deal for someone needs a little more space than -- -- We have a two tweet from somebody you I think articulated -- -- that I know a lot of people have this is -- he says.
-- never buy a new car though I can well afford it the cost of the ride home is way too much.
By two years old -- war -- now I think this is a brilliant strategy particularly if you're buying a luxury car.
We get a great warranty the car's gonna last for a long long time.
And how much that car's value goes wait a minute you to write it off the law act.
Yet it's I think it's a great point of view great -- -- -- in most cases there are rare exceptions but.
Ultimately -- you drive a car -- depending on the category.
And you're you're likely just to lose anywhere from five to if not 15% of the value -- -- renegade.
Electric cars are even worse and yeah it's it's it's terrible.
But -- the one exception -- wanna point out if you're looking for a small car like a new civic.
You're not actually gonna lose that much and in fact I'm pricing is very very close for one year -- -- model and brand new so there are exceptions.
-- that's interesting is you know you also say that in some cases the difference between the price and a new car and a used car.
If you're financing -- it's it's maybe 2030 bucks a month at the end of the day so it's not really that much and then when -- taken -- consideration probably has better gas mileage for the new car.
Maybe your break even.
Yeah that's it that's exactly right and if you look to small cars sub compacts like a Honda Fit or Toyota Yaris or -- like on Pacific afford focused.
In those cases especially since those models -- just -- in the last year to.
Those one year old -- models are -- -- -- set you back Carolina save you about twenty dollars per month maybe thirty dollars per month that most vs buying a new car.
Because one the financing better on a new car and especially if you consider fuel economy as you pointed out oftentimes the new car's going to be.
Barely more expensive and after fuel economy and finance -- incident might be about breakeven.
I love that great analysis out thanks for coming on today.
Hey thanks so much -- hundred have a great holiday weekend --
Filter by section