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As we enter the heart of summer, car shoppers have every reason to mark their calendars for July 4th. For those who can’t wait until year-end car sales, the summer holiday is an excellent time to negotiate a deal, or simply to take advantage of manufacturer incentives. 2024’s Fourth of July car sales are poised to be especially big. This year, the combination of abundant new car inventory and incoming 2025 models is creating an ideal environment for jaw-dropping discounts.
This new car oversupply is particularly pronounced in the truck, SUV, and luxury vehicle sectors. But not all car brands are approaching the summer holiday on the same footing. Domestic brands from Stellantis, Ford, and GM are more negotiable in 2024 due to higher inventory. However, shoppers with eyes set on a new Toyota or Honda will have a harder time securing a deal. But even for these brands, great APR and lease offers exist.
Brands On Track For Big Fourth of July Car Sales
Despite the modest gains in sales, certain brands like Ram, Jeep, Mazda, Ford, and Nissan are facing significant inventory excesses compared to their competitors. These brands are likely to offer bigger discounts for July 4th as they strive to sell cars. In fact, we’re already seeing them bring out the deals.
This is especially true for Ram, who has already started shipping 2025 truck models to dealerships. With 114,000 model year 2023-2024 Ram trucks left to sell, dealers are ready to ‘move the metal’ as they like to say. Truck lots are getting more crowded by the day.
Car brands with less inventory include Toyota, Subaru, and Honda. These brands are less likely to offer big APR and cash discounts in July as a buyer’s market remains elusive for the hot-selling Japanese brands.
Low APR deals are a win-win for both dealers and buyers. For dealers, it’s about liquidating stock without slashing sticker prices dramatically, which can devalue the brand. For buyers, these subsidized rates lower the monthly payment, making an upgrade more feasible. Expect to see APR offers as low as 0% for qualified buyers on select models, alongside generous cash-back offers and lease deals.
In fact, there are already several 0% APR offers on the market today…
As we inch closer to Fourth of July car sales, certain vehicles stand out for their negotiability. While the specific models and deals will be confirmed as the holiday approaches, here are some categories to watch:
Truck Deals: Automakers have simply priced new trucks too high, and buyers are pushing back. This has led to an oversupply of new trucks on dealer lots. Expect big deals on the Chevrolet Silverado 1500, Ram 1500, and Ford F-150. In fact, there are already some great low APR offers out there. Check out the truck deals here.
Electric Vehicles: Despite their steadily growing popularity, certain EV models are still struggling to find their market footing, leading to potentially larger discounts. Electric offerings from Kia, Hyundai, Chevrolet and Nissan are all advertised with big discounts. See the best EV offers this month.
Even if you’re looking elsewhere in the market, great deals far below MSRP can be won, especially with negotiation know-how. Be sure to take these free negotiation tools with you. Or, you can skip the dealership altogether!
Most folks dread buying a car. The salespeople, the misleading pricing, and pressure tactics make for one unpleasant experience. That’s a shame, because buying a car is the second largest purchase that most consumers will ever make.
Finally, there’s a better way to buy a car. Let a pro negotiate the perfect car on your behalf with CarEdge Concierge. Never step foot in a dealership again with home delivery and personalized service. Learn more about CarEdge Concierge, the most-trusted car buying service out there!
When it comes to purchasing a new or used vehicle, car buying services can simplify the process and get you a better deal. In this comparison, we’ll look at two popular services: Navy Federal Credit Union Car Buying Service and CarEdge Concierge’s car buying service, highlighting their key features, customer experiences, and overall value. Which is best for you? Stay tuned to find out.
Service Overview
Navy Federal Car Buying Service
Navy Federal Credit Union (NFCU) offers a car buying service powered by TrueCar, designed to provide a straightforward, member-friendly car purchasing experience.
Main Selling Points: Benefits for veterans and servicemembers, TrueCar affiliation, upfront price offers, trade-in assistance, exclusive member discounts, and competitive financing options.
Target Audience: Navy Federal Credit Union members seeking a convenient and budget-friendly car buying experience with the added benefits of membership.
Price: Free with Navy Federal Credit Union membership
CarEdge Concierge
CarEdge provides a comprehensive, hands-off car buying service, handling everything from vehicle sourcing to negotiation and delivery, all from the comfort of your home.
Main Selling Points: Complete management of the buying process, expert negotiation, no hidden fees, transparency, and customer-centric approach. CarEdge is not paid by car dealerships, and emphasizes their independence from auto industry influence.
Target Audience: Consumers seeking a personalized, stress-free car buying experience with expert support.
Common Praises: Convenience, competitive pricing, exclusive member benefits.
Common Complaints: Limited to TrueCar Certified Dealers, less personalized service compared to concierge services. Car buyers still deal with car dealership salespeople.
Customer Service: Not personalized, but general help is available through Navy Federal for questions and support.
Common Praises: Buyers skip the dealership, effective negotiation, no hidden fees, stress-free process, home delivery.
Common Complaints: Higher upfront cost compared to other services.
Customer Service: Comprehensive support throughout the entire process from a personal CarEdge Concierge.
Pros and Cons
There are some key differences between Navy Federal Credit Union and CarEdge car buying services, so we’ve gathered the key takeaways that differentiate each.
Navy Federal Car Buying Service Pros and Cons
Navy Federal Car Buying Service
Pros
Cons
Free with Navy Federal membership
Membership is restricted to those with ties to the armed forces
Convenient online car search and upfront pricing
Limited to TrueCar Certified Dealers
No personal Concierge or customer advocate
Dealership visits required in most cases
Less personalized service
CarEdge Pros and Cons
CarEdge Car Buying Service
Pros
Cons
Skip the dealership and buy from home
Higher upfront cost
Personalized Concierge included
Shipping costs vary by distance
Home delivery available
Some specialty models not serviced
Negotiates on your behalf
Independent from car dealers
Trade-in assistance
CarEdge does the work for you
In Conclusion: Which Is Better?
Navy Federal’s Car Buying Service and CarEdge Concierge both offer unique benefits, catering to different needs and preferences. Navy Federal is ideal for current credit union members or qualifying applicants looking for an affordable car buying experience with member perks. CarEdge, on the other hand, is perfect for those who desire a personalized service, want to avoid the dealership hassle, and appreciate expert negotiation done on your behalf. Simply put, CarEdge Concierge is the most hands-off car buying experience out there.
Ultimately, if you seek a budget-friendly option with member perks during vehicle ownership, Navy Federal Credit Union’s Car Buying Service is a solid choice. However, if you want the most streamlined and potentially cost-saving car buying experience with minimal effort on your part, CarEdge Car Buying Service stands out as the superior option.
Check out these helpful links below to learn more about each car buying service:
Used car prices are falling in 2024, and in all likelihood, we’re just getting started. According to the most recent used car market updates from Black Book, prices and trade-in values are softening as buyers turn their backs to high APRs and high prices. The summer brought the largest wholesale used car price decline since the pandemic. Here’s a look at the latest used car market update for 2024.
Following an unremarkable spring buying season, used car sales are weakening and inventory is piling up. Over the past month, we see that used car prices at wholesale markets are down one percent. That’s not much, but it’s the trend that matters. With each passing week, used car prices have been softening further. If this trend continues, used car buyers may finally be in for some real price relief. However, the selling price is just one piece of the puzzle.
Unfortunately, high interest rates continue to keep buyers away, with the average used car loan rate remaining north of 14% APR. Furthermore, compelling new car manufacturer incentives, such as zero percent APR offers available today, are leading would-be used car buyers to shift over to the new car market. The latest data from Cox Automotive shows that new car transaction prices continue to fall, and with more affordable new cars, the used car market is under downward pressure.
All signs point towards more price drops to come in 2024 (see our market forecast here). But it’s not all good news. Driver’s considering selling their vehicle should pay attention to used car price updates in the weeks ahead.
Trade-In Values Are Falling in 2024
As used car prices fall, trade-in values are taking a hit. Although today’s price trends are great for buyers, it’s bad news for those looking to sell or trade-in a vehicle in 2024.
Here are some tips to navigate this challenging landscape:
1. Research Your Car’s Value Frequently
Use online tools like CarEdge Sell, Kelley Blue Book or Edmunds to get an accurate estimate of your car’s current trade-in value. Used car values are changing by the week, so it’s important to stay on top of recent trends. Plus, this will give you a baseline to work with when negotiating with dealers or private buyers.
2. Consider Private Sale
Selling your car privately can often yield a higher price than trading it in at a dealership. Be prepared for the additional effort involved in listing, showing, and negotiating with potential buyers.
3. Prepare Your Car For Sale
Ensure your vehicle is in its best condition. A clean, well-maintained car with up-to-date service records will attract higher offers. Consider minor repairs or detailing to increase your car’s appeal.
4. Master Negotiation Beforehand
When trading in your car, get quotes from multiple dealerships to ensure you’re getting the best deal. Don’t be afraid to negotiate based on the research you’ve done about your car’s value. Use CarEdge’s FREE car buying cheat sheets and Deal School 2024 [FREE] to become a negotiation pro.
5. Consider a Car Buying Service
Professional Concierges who work for a car buying service are not just great at getting you deals, they can also negotiate your car’s trade-in value. Learn more about how car buying services work.
By following these steps, you can give your car the best shot at bringing in a higher sale or trade-in value. If you choose to work with CarEdge’s Car Buying Service, our professional Concierges can assist with your trade-in or sale. Learn more.
A Bit of Perspective
Notably, used car values remain above historical norms. It would take months of similar week-over-week declines to return the market to pre-2021 norms. In 2019, the average used car selling price was $20,618. Today, in 2024, the average used car price is $25,328. However, that’s down from 2022’s peak north of $30,000 for a used car.
And then there are today’s used car loan rates. For much of the past year, rates have averaged around 14% APR. This high-interest environment continues to impact buyers, making used car financing less attractive compared to the more favorable new car loan rates available with manufacturer incentives. Are you sure you want that $25,000 used car at 13% APR if you can get a brand new car for $30,000 at zero percent APR? It’s something every used car shopper should consider today.
Understanding these trends provides valuable context for today’s used car market. While current prices are higher than historical norms, they are gradually decreasing. However, the elevated used car loan rates are a critical factor to consider when making purchasing decisions.
The Takeaway
Used car prices are falling sharply at wholesale markets and more slowly at retail car lots. Expect used car prices to continue falling in the months ahead, creating a buyer’s market for deal-savvy shoppers. However, used car loan rates make financing expensive, so if you’re planning to finance a large amount, consider 0% APR offers for affordable new cars instead.
Have You Considered Car Buying Services?
No dealers, no hassle, no stress. Is it possible to buy a car without hating it? Yes! Learn more about CarEdge Concierge, the most-trusted car buying service out there!
When it comes to purchasing a new or used vehicle, car buying services can simplify the process and potentially save you money. In this comparison, we’ll look at two popular services: the Costco Auto Program and CarEdge Concierge, highlighting their key features, customer experiences, and overall value. Which is best car buying service for you? Stay tuned to find out.
Service Overview
Costco Auto Program
Costco Auto Program offers prearranged pricing from Approved Dealers, with the goal of providing a transparent car buying experience for Costco members.
Main Selling Points: Prearranged pricing, approved dealer network, member support, discounts on parts and services.
Target Audience: Costco members looking for a no-haggle car buying experience.
Price: Costco membership: $60 – $120/year
CarEdge Concierge
CarEdge provides a white-glove car buying service, handling everything from vehicle sourcing to negotiation and delivery. For car buyers, this is hands-off and stress-free.
Main Selling Points: Complete management of the buying process, expert negotiation, no hidden fees, transparency, and customer-centric approach. CarEdge is not paid by car dealerships, and emphasizes independence from auto industry influence.
Target Audience: Consumers seeking a personalized, stress-free car buying experience with expert support, without having to visit dealerships.
Price: $999 plus shipping where applicable
Here’s the breakdown of key features of Costco vs. CarEdge.
Common Praises: Transparent pricing, ease of use, member benefits.
Common Complaints: Buyers still go through the dealership experience. Some complaints mention that dealers are not always adhering to program rules, or pushing additional fees. A participation fee is paid by the dealers participating in Costco Auto Program.
Customer Service: Available through Member Advocates for questions and support.
Common Praises: Buyers skip the dealership, effective negotiation, no hidden fees, stress-free process, home delivery.
Common Complaints: Higher upfront cost compared to other services.
Customer Service: Comprehensive support throughout the entire process from a personal CarEdge Concierge.
Pros and Cons
There are some key differences between Costco and CarEdge, so we’ve gathered the key takeaways that differentiate each car buying service.
Costco Pros and Cons
Costco Auto Program
Pros
Cons
Lower program cost
Buyers still negotiate at the dealership
Included with Costco membership
Poor Google Review ratings
Pre-approved dealer network
No personal Concierge or customer advocate
Trade-in assistance
Costco is paid by participating dealers
CarEdge Pros and Cons
CarEdge Concierge
Pros
Cons
Skip the dealership and buy from home
Higher upfront cost
Personalized Concierge included
Shipping costs vary, but free pick-up is an option
Home delivery available
Some specialty models not serviced
Negotiates on your behalf
Independent from car dealers
Trade-in assistance
CarEdge does the work for you
In Conclusion: Which Is Better?
Costco’s Auto Program and CarEdge Concierge are both good options, but their key differences mean that the best car buying service depends on your needs and priorities. For buyers looking to avoid the car dealership hassle altogether, CarEdge is the way to go. CarEdge is also the clear choice for car buyers wanting a personalized customer service experience. Costco on the other hand is a great option for those on a very tight budget, since the program is available to those with a Costco membership.
Ultimately, if budget constraints are your primary concern and you are comfortable with dealership interactions, Costco Auto Program is a solid choice. However, if you seek the most streamlined and potentially cost-saving car buying experience with minimal effort on your part, CarEdge Concierge stands out as the superior car buying service.
Check out these helpful links below to learn more about each car buying service:
You’d think that ‘you get what you pay for’ would ring true for all luxury vehicles, but time and time again, the data shows otherwise. Luxury models can have some of the highest maintenance costs, despite their lavish designs and fine-tuned ride. Before you fall in love with any new car, see the most reliable luxury cars and SUVs in 2024. Your wallet will thank you!
The Most Reliable Luxury Sedans
2024 Lexus IS Hybrid
CR Reliability Score: 79/100
Overall CR Score: 72
2024 Recalls: 0 (as of May 2024)
The 2024 Lexus IS Hybrid is a winner for those who desire fuel efficient luxury with 41 MPG combined. It earned top reliability scores from Consumer Reports in the luxury sedan category.
The 2024 Acura TLX impresses with sporty demeanor and dynamic driving capabilities, powered by 272 horsepower. Tell that to anyone who says ‘it’s just a Honda Accord’. But one Honda attribute that does carry over is reliability.
The Lexus GX continues to be a reliable, luxurious workhorse with its rugged off-road capabilities and plush interior. With the latest refreshed design for 2024, it looks better than ever too. Consumer Reports is currently testing the reliability of the 2024 model.
The 2024 Lexus UX captivates with its bold design and efficient hybrid powertrain, achieving an excellent 42 MPG combined. Its compact size and great fuel economy make it ideal for urban driving.
The 2024 BMW X5 is both luxurious and sporty, for an SUV at least. With 335 horsepower under the hood, merging onto the highway is no challenge. If you’re looking for a reliable luxury SUV, the BMW X5 is up there with the best.
The 2024 Acura RDX delivers a compelling mix of sporty performance and luxury, powered by a 272 horsepower engine that wins over drivers with its engaging handling and high-quality cabin.
The 2024 BMW X3 offers what you’d expect from the German luxury brand: balanced performance and a sophisticated interior. With a starting price of $47,895, this is a surprisingly affordable BMW SUV.
The 2024 Lexus RZ starts at around $55,000 and offers a driving range of approximately 220-250 miles on a full charge. It includes the luxury features you’d expect from Lexus, including the new and improved Lexus Safety System+ 3.0 with adaptive cruise control and lane-keeping assist. The RZ supports DC fast charging, enabling an 10 – 80% charge in about 30 minutes.
The 2024 BMW i4 offers up to 300 miles of range, with the rapid acceleration you’d expect from a BMW EV. How quick are we talking? The M50 variant zips from 0-60 mph in about 3.7 seconds. The 2024 i4’s MSRP starts at $53,195 with destination fees.
The 2024 BMW iX offers a driving range of up to 324 miles. At a DC fast charger, the iX can charge from 10-80% in about 35 minutes. Combining luxury, high performance, and solid reliability, the iX is one of the best premium electric SUVs.
Tired of talking to salespeople, haggling, and feeling ripped off? Our CarEdge team of experts can do it all for you, from getting you the best price to home delivery. Learn more about CarEdge Concierge, the most-trusted car buying service out there!
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