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Should You Buy a Car Now or Wait? Market Outlook for 2025
So far, 2025 is shaping up to be another year full of twists for car shoppers. After a buyer-friendly 2024 marked by falling prices and rising incentives, this year brings fresh uncertainty — from tariffs and interest rates to new model arrivals and shifting consumer demand. The big question remains: Should you buy a car now, or wait?
At CarEdge, we’re closely tracking the latest market trends to help you time your next car purchase. Here’s what you need to know for spring and summer 2025.
The New Car Market: Still a Buyer’s Game (For Now)
Let’s start with some good news: there are still solid new car deals available this spring. Automakers are trying to keep sales strong as summer approaches, especially with many 2024 models still on lots. Here’s what’s driving the deals:
1. Tariffs Are Creating a New Kind of Urgency
In early April, 25% tariffs took effect on imported vehicles. For now, automakers are absorbing the costs to keep prices competitive — but that won’t last forever. As supply chains adjust, expect higher MSRPs and fewer discounts on imported vehicles later in 2025. That means spring and early summer could be your last chance to buy before price hikes hit.
Use CarEdge’s Auto Tariff Checker to see if your next vehicle is impacted.
2. High Inventory = Negotiating Power
Despite steady sales, dealership lots are still full. Many brands have over 100 days of supply — well above the 60-day benchmark of a balanced market. That’s expensive for dealers, who are now more willing to offer discounts or throw in extra incentives to close a deal. If you’re shopping now, you’ve got the upper hand.
See the fastest and slowest-selling cars this month
3. 2025 Models Are Here — Even 2026 Models Are Tricking In
Every week, more 2025 models are hitting showrooms. As of April, about two-thirds of dealer inventory is still made up of leftover 2024 models, which means dealers are getting desperate to move them before summer incentives roll out. This puts you in a great position to score a deal — especially on models with aging inventory.
What to Expect in 2025
New car prices had been showing signs of softening, but auto tariffs are likely to send prices higher yet again. Here’s a snapshot of what we anticipate in spring and summer of 2025:
- Tariffs may push prices up on certain vehicles — especially cars with final assembly outside of the U.S.
- Follow the oversupply to find the best deals: Stellantis brands like Jeep and Dodge have the most inventory to sell. Nissan is close behind.
- Brands like Toyota, Honda, Hyundai/Kia, and Subaru will be tougher to negotiate due to their continued popularity. See the fastest and slowest-selling cars today before you shop. Fast sellers will be tough to negotiate.
- Don’t pay dealer markups, even for high-demand cars. Walk away if you’re being pressured.
Used Car Market: More Uncertainty Ahead
Used car prices have been falling for much of the past year, but that trend may be slowing. Here’s what we’re watching:
- Prices have stabilized at wholesale auctions and retail lots in recent weeks.
- Interest rates remain high, keeping monthly payments up — but if rates begin falling later this year, expect a surge in demand for affordable used vehicles.
- New car incentives are stealing attention, which has softened demand for used vehicles — but that could change quickly if tariffs push new prices higher.
In other words, it’s a bit of a coin flip. If you find a used car you love at a price and rate you’re comfortable with, it’s a perfectly fine time to buy. But if you’re not in a rush, waiting for loan rates to drop could unlock even better deals. The challenge is guessing when that will actually happen.
👉 See this week’s used car market update
Take Advantage of Deals Today
For well-qualified car shoppers, this month’s sales present a great opportunity to secure a low interest rate. With numerous incentives, now is a fine time to buy if you’re in need of a vehicle soon. Of course, the best decision for you wallet is usually to keep the vehicle you already have, but sometimes that’s not an option. If you’re considering an import, buying sooner may help you avoid the full impact of tariffs. Be sure to check if your next car is impacted by tariffs.
Looking at the used car market, it’s tougher to foresee price trends considering the dynamics at play. If tariffs send new car prices higher, more drivers will shift their focus to used car lots. This higher demand would send used vehicle prices higher. With so many moving parts, it’s difficult to predict where the used car market will be months from now.
CarEdge Co-Founder and 43-year auto industry veteran Ray Shefska has this timely advice for used car shoppers late in 2024: If you find the car you want at the right price with a loan rate you are happy with, now is a ‘fine’ time to buy. Waiting only prolongs the car market uncertainty at this point.
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When Will Used Car Prices Drop? Year-End Sales Could Be Key
As the 2023 holiday season approaches, the automotive market is showing signs of change, particularly in the used car sector. After a period of record-high prices in 2022, there’s a light at the end of the tunnel for those seeking more affordable options. While used car prices have remained flat at retail lots, a steady decline has continued for months at wholesale auctions. Lower prices may soon reach retail consumers, with year-end sales in the new car market being the catalyst. Let’s take a look at how used car deals could play out in December.
Current Trends in Used Car Pricing
The cost of borrowing money is at a 20-year high, and used car sales are feeling the impacts. Demand for used cars has been on a slight downward trend in 2023. As of the most recent data from October, used car sales are down by 4% year-over-year. Unfortunately, used car prices have resisted downward pressure for most of the year.
Finally, that could be starting to change. Retail used car prices have seen a modest reduction of 0.7% over the past month after numerous ups and downs. However, since the start of 2023, prices have not moved much, hovering around an average listing price of $26,500. This is despite wild swings in wholesale prices.
The pace of this price decline has been slow, largely due to the supply of used cars in the retail market. With a current 49-day supply, down only slightly from previous months, a significant increase in inventory would be necessary for a more substantial drop in prices. However, patient buyers may finally get the relief they’ve been hoping for.
Stay updated with the latest trends and data on used car prices by following our weekly price updates at CarEdge.
When Will Used Car Prices Drop? All Eyes On December
For those waiting for a drop in used car prices, December 2023 appears promising. The potential for substantial price reductions is on the horizon, accelerated by Black Friday deals drawing more buyers to new car lots as early as November.
Interestingly, the key to understanding the potential for a used car price drop lies within the new car market, specifically in year-end sales dynamics. The end of the year is traditionally a prime time for new car purchases, as dealers and automakers strive to clear out current year models. This year, an abundance of new car inventory is anticipated, with the overall new car market experiencing an 83-day supply as of November. Some brands, such as Jeep and Ram, have over 100 days of inventory. This surplus exceeds the healthy market-day supply range of 40 to 60 days, indicating a pressing need for sales. How does this play into the used car market?
This surplus in the new car market should benefit used car buyers. Massive new car sales in December are likely to divert consumer attention from used to new vehicles. The appearance of attractive financing offers, like 0% APR could further encourage this shift.
In fact, used car buyers may want to reconsider once they realize the cost of today’s interest rates. A new car at MSRP with 0% APR financing may be a better deal than a used car at 14% APR. Believe it or not, today’s average used car loan rate is 14% APR.
How much will that interest cost you over an entire loan term? A $25,000 used car loan will actually cost you $35,000 over a 60 month term once the average 14% APR is factored in. You could get a decent new car with low APR for about the same price.
Be sure to check the best new car deals this month.
How Much Will Car Prices Drop?
How much might used car prices drop by the end of 2023? Car dealers have been notoriously stubborn with their sticker prices, as evidenced by unchanged average listing prices this year. What will improve most in December is the negotiability of used cars. For car buyers prepared with negotiation know-how, December will present a rare opportunity to save thousands of dollars.
For all but the most in-demand models, buyers should be able to negotiate 10% off of the listing price for used cars. For the average priced used car, that would amount to approximately $2,500 in savings.
Remember, you can always check local market dynamics with CarEdge Data. Perhaps your dream car is more negotiable than you’d think!
Free Car Buying Help Is Here!
Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
Year-End Car Deals Will Be Huge in 2023. Here’s Why.
2023 is shaping up to be an exceptional year for year-end car deals. A perfect storm of high inventory, soaring interest rates, and holiday sales is coming together to bring big discounts. Here’s why savvy car shoppers should take 2023’s year-end car deals seriously.
👉 Just want to see the deals? See December’s best new car incentives here.
1. Rising Interest Rates and Increased Floorplanning Costs
One of the most compelling reasons to expect significant year-end car deals in 2023 is the steady rise in interest rates throughout the year. The average new car loan APR is now 9%, with used car loans averaging around 14%.
As the cost of borrowing money increases, automakers and dealerships will be motivated to lure buyers with more attractive financing options. Simultaneously, rising rates mean higher dealership floorplanning costs, which put additional pressure on dealers to move inventory. With rates on the climb, it’s an opportune moment for buyers to lock in a low-interest loan before they potentially rise even further.
👉 These are the best auto financing offers in December.
2. High New Car Inventory
The auto industry has seen an influx of new car inventory in 2023. Factors like supply chain improvements, slower sales, and high MSRPs have contributed to a surplus of vehicles waiting for buyers. Dealerships are eager to clear out these excess stocks by year-end to make room for the next year’s models. This means potential discounts, rebates, and promotions that can significantly reduce the purchase price.
👉 See the most recent new car inventory update here.
3. Slow Sales Earlier in the Year
Sluggish car sales in the earlier part of the year have left many dealerships with excess inventory. In an effort to meet annual sales targets and improve cash flow, dealerships often resort to offering generous discounts and incentives in the final months of the year. For buyers, this translates into an excellent opportunity to snag a deal on the vehicle they desire.
4. Holiday Season Car Deals
Some things never change. Every year, the holiday season is when car dealerships roll out their best deals. Automakers and dealerships understand that consumers are ready to spend during this time, and they respond with enticing promotions, discounts, and special offers. After decades of holiday sales, consumers have come to expect big discounts in December, and often wait all year for amazing year-end car deals.
5. New Year’s Inventory Clear-Out
As the year comes to a close, automakers and dealerships are eager to clear out remaining inventory to make way for the arrival of new models. This urgency often translates into even more competitive pricing and incentives as they aim to finish the year on a strong note.
👉 December’s big year-end sales are out now! Here’s the best of the best.
December Is THE Time to Buy
In summary, 2023’s year-end car deals are the best sales we’ve seen all year due to a combination of rising interest rates, high new car inventory, holiday promotions, and the need to clear out existing stock. Car buyers who are patient and strategic in their approach can capitalize on these factors to secure a fantastic deal on their next vehicle.
Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
The Best New Car Offers in September: Low APRs and Great Lease Deals
Take one look at this month’s incentives, and one thing becomes clear: zero percent financing is on the rise. Whether you’re buying or leasing, here’s a look at the best new car offers for September 2024. It’s worth pointing out that automakers update their incentives between the second and fifth business day of each month. Check back for updates!
The Best APR Offers This Month
Seeking to finance your new vehicle with a low interest rate? Given that the average APR for new car loans is now over 9%, securing a low rate isn’t easy. However, these brands are stepping up to the plate with rare offers.
👉 Slash Your Car Loan Interest: Expert Tips for New and Used Car Buyers
0% Financing! Ford, Jeep, and Mazda Bring the Deals
What do automakers do when they seriously need to sell some cars? They bring on zero percent financing. In a serious effort to attract buyers, all of the following models are all advertised for 0% APR in September 2024. These are by far the most widespread sales so far this year.
FORD – 2024 Ford F-150 (36 months), 2024 Ford Mustang Mach-E (72 months), 2024 Ford Expedition (36 months)
MAZDA – 2024 Mazda CX-30, CX-5, and Mazda3 (0% APR for 36 months)
JEEP – All Jeep models, from the legendary Wrangler to the Grand Cherokee, have 0% APR for 36 months right now. See Jeep listings near you.
KIA – 2024 Kia EV9, EV6 (0% APR for 48 months). The slower-charging Niro EV is offered with 0% financing for 60 months.
NISSAN – 2024 Nissan Rogue, Pathfinder (0% APR for 36 months); 2024 Nissan Titan (60 months)
VOLKSWAGEN – 2024 Volkswagen ID.4 (0% financing for 72 months), 2024 Volkswagen Tiguan (0% APR for 60 months).
SUBARU – 0% financing for 72 months: 2024 Subaru Solterra
0.9% APR Offers: Mazda, Ford, and GM
The deals don’t end at zero percent financing. Several more models are available at just 0.9% APR this month.
These are the models advertised with 0.9% APR in September:
1.9% APR Offers: Chevrolet and Nissan
In September, Chevrolet is joined by Subaru, Nissan, and Kia with 1.9% APR financing deals. Considering that the average new car APR is now approaching 10%, this is a steal.
Chevrolet: Colorado, Equinox, Blazer, Trailblazer
2024 GMC Acadia, 2024 GMC Canyon
👉 Here’s every automaker’s best financing offers this month.
The Best Lease Deals in September
When it comes to new car incentives, more shoppers are considering a lease as MSRPs soar ever higher. These are the best lease deals this month.
Sedans
Sedans may be out of style, but they’re the most affordable. Check out these sedan lease offers for September 2024:
- Kia Forte: $199/month for 24 months with $3,499 due
- Honda Civic Sedan: $249/month for 36 months with $3,599 due
- Hyundai Elantra: $179 per month with $3,499 due
- Hyundai Sonata: $229 per month with $3,499 due
- Tesla Model 3 RWD: $299 per month for 36 months with $2,999 due
- Nissan Sentra: $289/month for 36 months with $2,529 due
- Toyota Corolla: $249 per month for 36 months with $3,499 due
SUVs & Crossovers
This month, SUV lease deals provide compelling offers for families. Now is a great time to consider leasing, especially if you go for one of the best new car offers listed below.
- Chevrolet Equinox: $299/month for 36 months with $1,369 due
- Chevrolet Trax: $249/month for 24 months with $2,769 due
- Honda CR-V: $299/month for 36 months with $3,399 due
- Honda Prologue: $289/month for 36 months with $2,999 due
- Mazda CX-90: $389/month for 36 months with $3,999 due
- Subaru Forester: $319/month for 36 months with $2,760 due
- VW Taos: $269/month for 36 months with $3,499 due
Trucks
For truck fans, the Ford F-150 is the best truck lease deal in September 2024.
- GMC Sierra 1500 Crew Cab 4WD Elevation: $389 per month for 36 months with $4,109 due
- Chevrolet Silverado 1500: $409/month for 36 months with $4,949 due
See all of this month’s best truck offers here.
👉 See ALL of the best lease deals from every major automaker
Free Car Buying Help Is Here!
Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
The Most Reliable Jeep Models, and the Ones to Avoid
Jeep has some of the worst reliability ratings of any automaker today, but some models are considerably better than others. We had originally planned to identify the five most reliable Jeep models, but we ran into a problem. None of the nine Jeep models earns higher than 3 out of 5 stars for reliability. Therefore, we’ve listed the models from most reliable to least reliable, according to Consumer Reports testing and surveys.
Overall, the Jeep brand ranks #24 out of the 25 car brands that CR tests for reliability. Who scored worse? Believe it or not, it was Mercedes-Benz.
We also included current inventory numbers, and there are A LOT of Jeeps sitting on dealer lots today. The deals are out there, if you learn how to negotiate. More on that below.
Jeep Cherokee (Discontinued in 2023)
Base Price: $37,695
Current Nationwide Inventory: 198 market days of supply
Reliability Rating: 3/5
Satisfaction Rating: 2/5
Overall Score: 64
About the rating: Despite receiving a face-lift, new minor features, and a turbocharged engine option, the refreshed Jeep Cherokee remained a lackluster model in a competitive segment. As a result, the Cherokee was discontinued in 2023. It continues to suffer from transmission issues, a stiff ride, and uninspiring handling. The optional turbo engine fails to provide a noticeable improvement in performance. While Jeep addressed some design concerns, this updated version falls short of expectations, highlighting the gap between its promising specs and on-road performance.
See Jeep Cherokee listings with the power of local market data.
Jeep Wagoneer
Base Price: $61,595
Current Nationwide Inventory: 260 market days of supply
Reliability Rating: 2/5
Satisfaction Rating: 3/5
Overall Score: 51
About the rating: The all-new Wagoneer, built on the Ram 1500 pickup’s body-on-frame construction, offers a comfortable three-row experience with seating for up to 8. However, its pricing, starting at about $10,000 more than competitors before factoring in a high $2,000 destination charge, raises eyebrows. The 5.7-liter V8 engine delivers a robust 392 horsepower, but it’s accompanied by very poor fuel economy, achieving just 15 mpg overall. The independent rear suspension contributes to a smooth ride, but the SUV’s bulk becomes apparent in corners and turns. Inside, the cabin boasts space, leather, and upscale materials, although some controls and displays are less user-friendly. Safety features like forward collision warning and automatic emergency braking come standard, with optional advanced driver assistance features available.
See Jeep Wagoneer listings with the power of local market data.
Jeep Grand Wagoneer
Base Price: $91,140
Current Nationwide Inventory: 264 market days of supply
Reliability Rating: 2/5
Satisfaction Rating: 3/5
Overall Score: Not Tested
About the rating: Consumer Reports says that the Grand Wagoneer’s expected reliability and satisfaction ratings are based on similar models, which in this case, is surely the 2023 Wagoneer that was tested.
See Jeep Grand Wagoneer listings with the power of local market data.
Jeep Grand Cherokee
Base Price: $36,495
Current Nationwide Inventory: 200 market days of supply
Reliability Rating: 2/5
Satisfaction Rating: 3/5
Overall Score: 55
About the rating: The redesigned Grand Cherokee offers a more premium cabin, improved fuel economy, and added refinement compared to its predecessor. It retains the same core powertrain, a 293-horsepower 3.6-liter V6, delivering smooth acceleration and linear power delivery. While it handles relatively well for its size, it falls short of the agility of competitors like the Ford Explorer. The cabin is quiet and well-finished with ample space and comfortable front seats. However, some controls are cluttered and confusing, and the instrument cluster changes can be distracting. The Grand Cherokee comes with a standard suite of safety features, but its historically below-average reliability may deter some buyers.
See Jeep Grand Cherokee listings with the power of local market data.
Jeep Grand Cherokee L
Base Price: $42,130
Current Nationwide Inventory: 175 market days of supply
Reliability Rating: 2/5
Satisfaction Rating: 3/5
Overall Score: 53
About the rating: The Grand Cherokee’s long-awaited three-row “L” version bridges the gap between mainstream and luxury SUVs but has performance limitations. The base 290-horsepower V6 struggles with acceleration and gets 19 mpg overall. It handles reasonably well, but the steering lacks feedback, and tire grip is mediocre. The cabin is spacious but may not comfortably accommodate adults in the third row. The interior has glossy-black trim, wood, and some misaligned panels, and the controls are cluttered. Connectivity is good, and safety features are standard, but it’s not ideal for serious off-roading.
See Jeep Grand Cherokee L listings with the power of local market data.
Jeep Wrangler
Base Price: $32,095
Current Nationwide Inventory: 224 market days of supply
Reliability Rating: 2/5
Satisfaction Rating: 3/5
Overall Score: 25
About the rating: The current Jeep Wrangler maintains its rustic charm, iconic design, and off-road capabilities while enhancing its powertrain, amenities, and connectivity features. However, it comes with drawbacks such as awkward access, excessive wind noise, and a rough ride. The Wrangler’s body-on-frame construction, solid axles, and removable features cater to off-road enthusiasts, especially the Rubicon version. Nevertheless, its on-road performance falls short of modern SUV standards, with stiff handling, pronounced body roll, and a jittery ride, making it less suitable for daily commuting or highway driving. In conclusion, the Wrangler excels in off-road adventures but is not a good choice for any other driving scenarios.
See Jeep Wrangler listings with the power of local market data.
Jeep Gladiator
Base Price: $38,775
Current Nationwide Inventory: 190 market days of inventory
Reliability Rating: 2/5
Satisfaction Rating: 3/5
Overall Score: 36
About the rating: The Jeep Gladiator, essentially a Wrangler-based pickup truck with a 5-foot bed, inherits many of the Wrangler’s pros and cons. It stands out in the small truck class due to its unique character and better ride quality, thanks to a rear suspension borrowed from the Ram 1500. Off-road capabilities are impressive, and it offers a robust 3.6-liter V6 engine with good towing capacity, though fuel economy is average. On the downside, handling is clumsy, and the cabin lacks some comfort features, including power seat adjustments. Wind noise can be bothersome at highway speeds, and while it’s appealing for off-road enthusiasts, its higher price and optional safety features may give potential buyers pause.
See Jeep Gladiator listings with the power of local market data.
Jeep Compass
Base Price: $28,400
Current Nationwide Inventory: 210 market days of inventory
Reliability Rating: 2/5
Satisfaction Rating: 1/5
Overall Score: Not Tested
About the rating: Consumer Reports says that the Jeep Compass’ expected reliability and satisfaction ratings are based on similar models, which in this case, is likely the Cherokee and Renegade, which were tested. Consumer Reports did drive the Compass, however, and didn’t find much to like about it. CR says that when compared to its competitors, the Compass falls short in various aspects. It offers a stiff and jittery ride, and the rear seat is both low and flat, detracting from its overall appeal.
See Jeep Compass listings with the power of local market data.
Jeep Renegade
Base Price: $28,343
Current Nationwide Inventory: 194 market days of inventory
Reliability Rating: 2/5
Satisfaction Rating: 1/5
Overall Score: 40
About the rating: Don’t buy a Jeep just for the brand name. The Jeep Renegade boasts a modern design and a solid build, offering decent rear cargo space. However, its charm wanes quickly due to cumbersome handling, a choppy ride, uncomfortable front seats, and limited visibility. The nine-speed automatic transmission can be hesitant, paired with the 2.4-liter engine, affecting power and performance. While its Trailhawk version shines off-road, the Renegade faces tough competition from more refined and economical compact SUVs like the Honda CR-V and Toyota RAV4. With a score
See Jeep Renegade listings with the power of local market data.
Navigating Reliability Ratings: Final Thoughts
While reliability is a crucial factor in choosing your next vehicle, it’s essential to consider other elements. Factors like fuel efficiency, comfort, safety features, and the car’s total cost of ownership play significant roles in your decision-making process. While we understand that every driver has their own preferences, there’s an undeniable truth car buyers must confront: Jeep does not score well in any of these categories.
From ride comfort to fuel economy, maintenance costs to recalls, Jeep is not a top performer. But we get it: Jeep makes offroad adventures possible at an affordable price point. That’s something special, so we’re sure Jeep will continue to do well in the future. However, we hope that Jeep does improve the common complaints and faults, with the simple goal of having a better product in the future.
You’re not alone in this journey! Our dedicated team of CarEdge Coaches is here to assist you every step of the way. With expert advice and personalized guidance, we ensure you not only choose a reliable vehicle but one that truly fits your lifestyle and brings joy to every drive. Ready to embark on a stress-free and informed car-buying adventure? Contact a CarEdge Coach today, and let’s find your next car at a price you can afford!!
Love the daily Ray and Zach show? Check out our new podcast, AutoInsiders with Ray Shefska!
