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Fourth of July Car Sales Present a Rare Opportunity For Deals
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.
Here’s why 2024’s July 4th sales will be special.
It’s a Buyer’s Market (For Most)
Most automakers are grappling with unusually high levels of new car inventory. According to CarEdge Pro, July opened with 91 days of new-vehicle supply industry-wide, which translates to 3.17 million units. In a normal car market, we’d be closer to 60 days of supply. New car inventory is rising. The result is manufacturer incentives that offer low or zero percent APR, huge cash discounts, and great lease deals.
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.
👉 See the fastest and slowest-selling new cars right now
Low APR Incentives: A Closer Look
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…
👉 See the best APR and cash offers right now (updated monthly)
The Most Negotiable New Cars and Trucks
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!
👉 Browse car listings with the power of local market data
Skip the Dealership this Fourth of July
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!
Navy Federal Car Buying versus CarEdge Concierge: The Differences Explained
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.
- Price: $999 plus shipping where applicable
| Feature | Navy Federal Car Buying Service | CarEdge Concierge |
| Price | Free with Navy Federal Credit Union membership | $999 + shipping if applicable |
| Shop deals from home | Yes | Yes |
| Buy at the dealership | Yes | No |
| Home delivery | No | Yes |
| Personalized service | No | Yes |
| Negotiates on your behalf | No | Yes |
| Vetted dealers | Yes | Yes |
| Trade-in assistance | No | Yes |
| Extended Warranties Offered | No | Yes |
Customer Experience
Navy Federal Credit Union Car Buying Service
- Google Rating: 4.0 stars (73 reviews)
- 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.
CarEdge Concierge
- Google Rating: 5.0 stars (1,728 reviews)
- 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.
Pro 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 Pro and Cons
| Navy Federal Car Buying Service | |
| Pro | 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 Pro and Cons
| CarEdge Car Buying Service | |
| Pro | 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:
The Used Car Market Is Collapsing in 2024 – What Buyers and Sellers Need to Know
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.
👉 See the latest used car price report (updated weekly)
Used Car Loan Rates Complicate a Buyer’s Market
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!
Understanding Car Buying Services: What Is a Car Concierge?
Car buying services, also known as car buying concierges, have emerged as a turnkey solution for those seeking a hassle-free car buying experience. These services handle everything from vehicle sourcing to negotiation, ensuring you get the best deal without the stress. Want to buy a car without going to the dealership? This is the solution for you. In this guide, we’ll explore what car buying services are, how they work, and the benefits of using them.
What is a Car Buying Service?
A car buying service, or car buying concierge, is a professional service that assists consumers in purchasing a vehicle by handling everything from vehicle sourcing and price negotiation to trade-in assistance, and delivery logistics.The primary goal of car buying services is to simplify the car buying process by leveraging their expertise, industry connections, and negotiation skills.
Whether you’re looking for a new or used car, a car buying concierge can help you find the perfect vehicle while saving you time, money, and eliminating the inconvenience of haggling with salespeople.
Services Offered by Car Buying Concierges
- Vehicle Sourcing
- Detailed Search: Car buying concierges conduct a comprehensive search based on your needs and wants, including make, model, year, color, and features. They use their industry knowledge and connections to find the best options that match your criteria.
- Network Access: These services have access to a wide network of dealerships and private sellers, often finding vehicles that are not yet listed publicly. If you’re looking for a good deal on a rare or in-demand car model, a car buying service could be especially useful.
- Price Negotiation
- Expert Negotiation: Car buying concierges are skilled negotiators who know how to secure the best possible price. They understand dealer tactics and can navigate the complexities of pricing to ensure you avoid hidden fees and unnecessary add-ons. If you dread negotiating with salespeople, the benefits of a car buying service are compelling.
- Savings: By leveraging their real-time market expertise, they can often secure deals that you might not be able to achieve on your own. Car buying concierges typically have behind-the-scenes market tools like CarEdge Pro to gain the upper hand in negotiating on your behalf.
- Trade-In Assistance
- Evaluation: If you have a vehicle to trade in, car buying concierges can help evaluate its worth and negotiate a fair trade-in value. This ensures you get the best possible price for your old car.
- Seamless process: They handle the trade-in process, making it seamless and convenient.
👉 See how much your car is worth with CarEdge Pro, powered by Black Book
- Delivery and Paperwork
- Coordination: Car buying services manage the logistics of paperwork and vehicle delivery, ensuring your new car is delivered to your doorstep or a convenient location. You can also pick it up at the dealership if you prefer.
How Car Buying Services Work
If your car buying service seems too complicated, they’re doing something wrong. The best in the business are easy to understand and navigate. Here’s what you should expect.
Step 1: Initial Consultation
The process begins with an initial consultation where the concierge understands your needs, preferences, and budget. This is typically done over the phone, via email, or online chat. At this point, you’ll pay for the services rendered. Most car buying services or concierges cost between $1,000 and $3,000, plus shipping if applicable.
Step 2: Search and Shortlisting
Based on your criteria, the concierge conducts a detailed search and shortlists potential vehicles. They provide you with a curated list of options, along with detailed information about each vehicle. Your Concierge should provide current price information, along with their insights on how negotiable the pricing should be.
Step 3: Negotiation and Finalization
Once you’ve selected a vehicle, the concierge negotiates the price on your behalf. They handle all communication with the seller to ensure you get the best deal. No worries – your approval is sought for each and every step. The deal won’t be finalized until you give it the green light.
Step 4: Delivery and Completion
After finalizing the purchase, the concierge coordinates the delivery of the vehicle and handles all paperwork, ensuring a smooth and hassle-free experience. Delivery costs vary by distance from the dealership to your home. Shipping costs are typically between $1.00/mile and $1.50/mile.
Benefits of Using a Car Buying Service
Time Savings and Convenience: Car buying services save you the time and effort involved in searching for a vehicle, negotiating prices, and dealing with salespeople. Your concierge handles everything while you sit back and relax.
Expertise in Securing Better Deals: With their industry knowledge and negotiation skills, car buying concierges can secure deals that you might not be able to achieve on your own. This often results in significant savings.
Stress-Free Car Buying Experience: The car buying process can be stressful, especially for those unfamiliar with the market. A concierge service provides peace of mind by handling all aspects of the purchase, ensuring a smooth and enjoyable experience.
Get Started Today with CarEdge Car Buying Service
Car buying services offer a convenient, efficient, and stress-free way to purchase a vehicle. By leveraging their expertise and industry connections, these services can help you find the perfect car at the best price. If you’re in the market for a new or used vehicle, consider using a car buying concierge to make the process seamless and enjoyable.
Want to learn more about a leader in the industry? Get started with CarEdge Concierge today to save more and stress less. Never step foot in a dealership again!
Costco versus CarEdge Car Buying Services: The Differences Explained
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 Pro 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 Pro
- Costco Auto Pro 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.
| Feature | Costco Auto Pro | CarEdge Concierge |
| Price | $60 – $120/year | $999 + shipping if applicable |
| Buy at the dealership | Yes | No |
| Buy from home | No | Yes |
| Home delivery | No | Yes |
| Personalized service | No | Yes |
| Negotiates pricing | No | Yes |
| Vetted dealers | Yes | Yes |
| Trade-in assistance | Yes | Yes |
| Extended Warranties offered | Yes | Yes |
Customer Experience
Costco Auto Pro
- Google Rating: 2.3 stars (38 reviews)
- 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 Pro.
- Customer Service: Available through Member Advocates for questions and support.
CarEdge Concierge
- Google Rating: 5.0 stars (1,728 reviews)
- 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.
Pro 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 Pro and Cons
| Costco Auto Pro | |
| Pro | 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 Pro and Cons
| CarEdge Concierge | |
| Pro | 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 Pro 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 Pro 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:
Learn more about CarEdge’s car buying service
The Most Reliable Luxury Cars and SUVS – Consumer Reports, Recalls, and More
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.
See complete reliability ratings at Consumer Reports
Browse Lexus IS listings with the power of local market data
2024 Lexus ES Hybrid
CR Reliability Score: 73/100
Overall CR Score: 88
2024 Recalls: 0 (as of May 2024)
See complete reliability ratings at Consumer Reports
Browse Lexus ES listings with the power of local market data
2024 Acura TLX
CR Reliability Score: 70/100
Overall CR Score: 69
2024 Recalls: 0
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.
See complete reliability ratings at Consumer Reports
Browse Acura TLX listings with the power of local market data
2024 BMW 2 Series
CR Reliability Score: 64/100
Overall CR Score: 74
2024 Recalls:
Starting price under $40,000, this entry-level BMW scores above average in reliability. Plus, the BMW 2 Series scored well in IIHS crash testing.
See complete reliability ratings at Consumer Reports
Browse BMW listings with the power of local market data
The Most Reliable Luxury SUVs
2023 Lexus GX (2024 not yet tested)
CR Reliability Score: 86/100
Overall CR Score: 74
2024 Recalls: 0 (as of May 2024)
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.
See complete reliability ratings at Consumer Reports
Browse Lexus GX listings with the power of local market data
2024 Lexus UX
CR Reliability Score: 83/100
Overall CR Score: 78
2024 Recalls: 0 (as of May 2024)
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.
See complete reliability ratings at Consumer Reports
Browse Lexus UX listings with the power of local market data
2024 BMW X5
CR Reliability Score: 82/100
Overall CR Score: 92
2024 Recalls: 0
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.
See complete reliability ratings at Consumer Reports
Browse BMW X5 listings with the power of local market data
2024 Acura RDX
CR Reliability Score: 80/100
Overall CR Score: 81
2024 Recalls: 0
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.
See complete reliability ratings at Consumer Reports
Browse Acura RDX listings with the power of local market data
2024 BMW X3
CR Reliability Score: 73/100
Overall CR Score: 86
2024 Recalls: 0
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.
See complete reliability ratings at Consumer Reports
Browse BMW X3 listings with the power of local market data
The Most Reliable Luxury EVs
2024 Lexus RZ
CR Reliability Score: 79/100
Overall CR Score: 74
2024 Recalls: 0
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.
See complete reliability ratings at Consumer Reports
Browse Lexus RZ listings with the power of local market data
2024 BMW i4
CR Reliability Score: 60/100
Overall CR Score: 83
2024 Recalls: 0
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.
See complete reliability ratings at Consumer Reports
Browse BMW i4 listings with the power of local market data
2024 BMW iX
CR Reliability Score: 59/100
Overall CR Score: 84
2024 Recalls: 2 (Learn more)
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.
See complete reliability ratings at Consumer Reports
Browse BMW iX listings with the power of local market data
A Better Way to Buy a Car
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!
Cars with AI in 2024: Volkswagen and Mercedes-Benz Join Tesla at the Forefront
There’s a massive transition happening before our eyes, but it’s one that is getting harder to detect by the day: the rise of artificial intelligence (AI). We’re taking a close look at a rapid change that’s already transforming the auto industry: cars with AI. In 2024, three leaders are taking bold steps to put AI in cars: Tesla, Mercedes-Benz, and Volkswagen. Here’s how the big three are putting machine learning into the driver’s seat.
Tesla: Pioneering Autonomous Driving
Tesla has been a household name in the world of electric vehicles and autonomous driving since first launching Full Self-Driving (FSD) in 2020. The company’s Autopilot system is one of the most advanced driver assistance systems available today. Utilizing NVIDIA-powered AI, Tesla’s FSD technology aims to enable fully autonomous driving, allowing cars to navigate complex environments with minimal human intervention.
In 2024, all Tesla models include Autopilot, which features limited AI-powered autonomous driving, such as interstate cruising and lane changes. Tesla’s Full-Self Driving package is an $8,000 add-on, and includes the following capabilities:
- Navigate on Autopilot
- Auto Lane Change
- Autopark
- Summon
- Smart Summon
- Autosteer on city streets
- Traffic Light and Stop Sign Control
Tesla continues to lead the pack by constantly updating its AI capabilities through over-the-air software updates, enhancing everything from traffic sign recognition to full autonomous navigation. But something has changed in recent years: Tesla is no longer alone in the automotive AI space.
Here’s a look at the most serious competition today.
Mercedes-Benz: A Leader in Automotive AI
Mercedes-Benz is making significant strides in integrating AI into its vehicles. In fact, in 2023, Mercedes-Benz became the first automaker to gain U.S. approval for Level 3 autonomous driving. Yes, they even beat Tesla to the historic milestone.
The Mercedes-Benz Drive Pilot system represents the world’s first Level 3 system certified by the Society of Automotive Engineers, or SAE. Level 3 autonomous driving systems can manage most aspects of driving, including monitoring the environment, without human intervention. These are hands-off driving systems on certain roads.
Drive Pilot is powered by a spectrum of sensors, from LiDAR to rear window cameras and microphones. Who’s a major partner in Mercedes’ AI development? You guessed it: NVIDIA.
AI-Powered Multimedia
It’s not just autonomous driving that Mercedes is after. Now, Mercedes is bringing AI into infotainment and multimedia in the cabin. At the heart of the automaker’s AI innovation is the MBUX (Mercedes-Benz User Experience) Virtual Assistant. Debuting at CES 2024, this assistant leverages generative AI to deliver a highly personalized driving experience. The new system, integrated with the Mercedes-Benz Operating System (MB.OS), uses advanced 3D graphics powered by the Unity game engine, making the interactions more natural and visually engaging.
Mercedes-Benz has also integrated ChatGPT into its vehicles, enhancing the capabilities of the “Hey Mercedes” voice assistant. This integration allows for more natural and expansive conversations, handling a broader range of topics and providing more natural language interactions. In other words, Mercedes doesn’t want your voice assistant to sound like a GPS giving navigation instructions.
But it’s not just luxury cars getting into artificial intelligence. Another German automaker is now producing new cars with AI at a much lower price point.
Volkswagen Brings ChatGPT to Cars
Volkswagen is set to integrate OpenAI’s ChatGPT into its vehicles, starting from the second quarter of 2024. This integration, announced at the 2024 Consumer Electronics Show (CES) in Las Vegas, marks Volkswagen as the first mainstream traditional automaker to standardize ChatGPT across a broad range of models.
ChatGPT is an advanced AI language model developed by OpenAI that generates human-like text based on the input it receives. Powered by NVIDIA hardware, it utilizes deep learning techniques to understand and respond to a wide range of queries, providing accurate and contextually relevant information. Anyone can try ChatGPT for free at chat.openai.com.
The AI-based chatbot will be embedded within Volkswagen’s IDA voice assistant, which is activated by saying “Hello IDA” at any time. The ChatGPT integration will be available in various models, including the electric ID.3, ID.4, ID.5, ID.7, as well as the upcoming Tiguan, Passat, and Golf. The Volkswagen ID.4 is on sale today.
Volkswagen says that ChatGPT will enhance the functionality of the IDA voice assistant by enabling more natural conversations. Users will be able to ask a wide range of questions, from navigation assistance and climate control to general questions. Want to know about the history of the town you happen to be driving through? Soon, you’ll be able to ask your Volkswagen.
ChatGPT does not access vehicle data, and all interactions are securely deleted after processing. AI and personal privacy are growing concerns for more drivers as cameras and microphones become more commonplace inside the cabin.
Cars with AI Are Already Here
Like it or not, more automakers are bringing AI to new cars in 2024 and beyond. Privacy concerns are not to be overlooked, but drivers have much to gain from newfound AI superpowers. From improving vehicle safety through predictive analytics to offering seamless and intuitive in-car experiences, the potential is limitless. Companies like Tesla, Mercedes-Benz, and Volkswagen are at the forefront of this revolution, setting new standards for what we can expect from our vehicles.
In a time of strange AI art, artificial song generators, and unsettling deep fakes, it’s comforting to see the positive side of artificial intelligence in our lives. AI is making our cars smarter, our drives safer, and our journeys more enjoyable.
One thing is certain: the future is getting weird!
The Most Negotiable New Cars in 2024
The best new car deals are changing in 2024. We spoke to CarEdge’s Ray Shefska about which new cars and trucks are most negotiable today. With over 40 years of experience in the business and a constant pulse on the market, Ray knows the ins and outs of car buying. That includes where the best deals can be had. These are the most negotiable new cars for summer 2024, based on the latest market data from CarEdge Pro.
The Most Negotiable New Cars
#1: Electric Vehicles
You’ve probably heard by now that automakers are struggling to sell EVs. While EV sales continue to climb, it’s true that the rate of adoption has slowed. Gone is the rapid rise in popularity that early adopters brought to the market. Now, we’re well into the slow and steady process of convincing the other 90% of the car market that EVs are worth trying out.
Here’s how EV inventory plays out as we head into summer 2024. Keep in mind that the market average is 72 days of supply. You can learn more about this valuable car market measure here.
| Make | Model | Current Day Supply | Total For Sale | Negotiability |
|---|---|---|---|---|
| Ford | F-150 Lightning | 128 days | 7,314 | Highly Negotiable |
| Ford | Mustang Mach-E | 166 days | 18,896 | Highly Negotiable |
| Kia | EV6 | 96 days | 4,737 | Above Average |
| Kia | EV9 | 106 days | 4,940 | Above Average |
| Hyundai | IONIQ 5 | 140 days | 15,147 | Highly Negotiable |
| Volkswagen | ID.4 | 132 days | 6,940 | Highly Negotiable |
| Nissan | Ariya | 108 days | 4,821 | Above Average |
| Subaru | Solterra | 105 days | 4,415 | Above Average |
| Cadillac | Lyriq | 184 days | 13,119 | Highly Negotiable |
| Chevrolet | Blazer EV | 507 days | 16,014 | Highly Negotiable |
| Mercedes-Benz | EQS | 180 days | 3,460 | Highly Negotiable |
| Mercedes-Benz | EQE SUV | 148 days | 3,712 | Highly Negotiable |
| Mercedes-Benz | EQB | 241 days | 2,680 | Highly Negotiable |
| Volvo | C40 | 383 days | 1,420 | Highly Negotiable |
See local market supply, price data, and buying advice with CarEdge Pro
If you’re EV-curious, this oversupply is GREAT news. Manufacturers and dealers alike have tens of thousands of electric vehicles to sell, and are offering big incentives to entice buyers.
Here are just a few of the standout deals this summer:
Finance with 0% APR (all trims) for 60 months + $7,500 customer cash until June 3, 2024. Lease the IONIQ 5 SE for $299/month for 24 months with $3,499 due.
Base Price: $41,400 – $53,500
Range: 220 – 303 miles
Finance with 0% APR for 60 months + $9,000 cash. Lease the EV6 RWD Wind for $249/month for 24 months with $3,999 due.
Base Price: $42,600 – $61,600
Range: 252 – 310 miles
Why no Tesla models on this list? Simply put, Tesla models are not negotiable. With direct-to-consumer sales, the price is the price. However, there’s great news for Tesla fans. Tesla is offering their best offer ever for the Model Y. Right now, Tesla is offering 0.99% APR for up to 72 months.
This comes as Model Y prices have fallen to their lowest point ever. In 2024, the popular Model Y Long Range AWD starts at $47,990. The Rear-Wheel Drive Model Y starts at $44,990. Learn more about these Tesla offers.
#2 Sedans
Sedans have officially fallen out of favor in America. This is not news to you if you’ve driven anywhere in the States in the past decade. However, manufacturers are still producing several great sedans that promise great fuel economy and low prices.
Last year, these were the 5 best-selling sedans in America:
- Toyota Camry
- Toyota Corolla
- Honda Accord
- Honda Civic
- Hyundai Elantra
Although the Camry and Corolla remain hot sellers with below-average negotiability, several popular and well-reviewed sedans have a glut of dealership inventory in 2024. This makes these models especially negotiable today:
| Make | Model | Current Day Supply | Total For Sale | Negotiability |
|---|---|---|---|---|
| Honda | Accord | 73 days | 27,374 | Above Average |
| Kia | K5 | 150 days | 2,034 | Highly Negotiable |
| Hyundai | Elantra | 115 days | 32,420 | Above Average |
| Hyundai | Sonata | 154 days | 15,653 | Highly Negotiable |
| Subaru | Legacy | 99 days | 3,815 | Above Average |
| Nissan | Altima | 144 days | 24,618 | Highly Negotiable |
| Nissan | Versa | 115 days | 8.987 | Above Average |
| Nissan | Sentra | 120 days | 36,296 | Above Average |
| Mazda | Mazda3 | 147 days | 9,533 | Highly Negotiable |
See local market supply, price data, and buying advice with CarEdge Pro
Don’t negotiate without this!!! 👉 Free Car Buying Cheat Sheet
#3 Trucks
CarEdge co-founder Ray Shefska highlighted full-sized trucks as some of the most negotiable new cars in 2024. It’s now common to see advertised discounts below MSRP for these models. Truck inventory has fallen as dealers have finally sold off most of their 2023 inventory, but trucks are still in oversupply. Here are the best truck deals this month:
Ram 1500: 92 days of supply (highly negotiable)
- $2,500 cash allowance
Ford F-150: 98 days of supply (highly negotiable)
- 3.9% APR for 60 months + $2,500 cash incentive
Chevrolet Silverado 1500: 105 days of supply (highly negotiable)
- 1.9% APR + $5,750 cash offer with a trade-in
GMC Sierra 1500: 99 days of supply (highly negotiable)
- 1.9% APR + $3,250 cash allowance + NO payments for 90 days.
You can negotiate the best deal on the leftovers from last year, however, In fact, there are still 18,000 brand-new 2023 F-150s on dealer lots, and 2,900 new 2023 Ram 1500s. If you’re equipped with expert market insights, these are the most negotiable new trucks today. But hurry, they won’t be there for long! No truck goes unsold, and we’re already halfway through 2024.
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- CarEdge Recommendation: Get personalized advice and recommendations for your car search, all based on market conditions in your area.
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- Black Book Valuation: Get accurate vehicle values for smarter buying, selling, or trading decisions.
The 7 Best Memorial Day SUV Deals: Family Haulers at a Discount
As we approach Memorial Day weekend (May 25 – May 27), car shoppers have a golden opportunity to take advantage of significant discounts on SUVs and crossovers. Traditionally a hotbed for great car deals, 2024’s Memorial Day sales are shaping up to be especially big. This year, elevated levels of new car inventory and hefty floorplanning costs faced by dealers are creating the perfect storm for big bargains. It’s a buyer’s market! Here are the best Memorial Day SUV deals for May 2024.
2024 Hyundai Palisade
Financing offer: 3.99% APR for 60 months
Cash offer: $1,250 cash savings
Lease offer: Lease the Palisade SEL from $379/month for 36 months with $3,999 due. See offer details.
The Hyundai Palisade is a favorite among families, offering a blend of comfort, space, and technology. Plus, it earns the ‘Top Safety Pick’ crash test rating from the IIHS. This Memorial Day, Hyundai is sweetening the deal with a competitive financing offer and a decent cash discount.
👉See Hyundai Palisade listings with the power of local market data
2024 Jeep Grand Cherokee
Financing offer: 6.9% APR for 72 months
Cash offer: $5,500 cash (conquest cash offer for owners of competitive brand vehicles)
Lease offer: Lease from $399/month for 36 months with $4,509 due. See offer details.
Jeep’s Grand Cherokee remains a top choice for those wanting rugged capability combined with luxury. This Memorial Day, Jeep is offering a conquest cash offer, making it an attractive option for owners of competitive brand vehicles. Despite the higher APR, the big cash discount can make this deal work. Check out the latest on Jeep reliability before you decide.
👉See Jeep listings with the power of local market data
2024 Kia EV6
Financing offer: 0% APR for 60 months.
Cash offer: $9,000 cash discount
Lease offer: Lease for $209/month for 24 months with $3,870 due. See offer details.
The Kia EV6 is one of the best electric vehicles on the market, combining fast charging with sporty looks, despite the family-sized interior. This Memorial Day, Kia is offering one of the best deals with 0% APR financing and a massive $9,000 cash discount. If you’re considering going electric, the EV6 is a compelling option with these generous incentives.
Not sure you want an EV for the long-term, or simply want to avoid depreciation? This EV6 lease offer is as good as it gets. Need a 3-row electric SUV? The all-new Kia EV9 qualifies for similarly great Memorial Day deals.
👉See Kia EV6 listings with the power of local market data
Mazda SUVs
Financing offer: 0% APR for 36 months for the 2024 Mazda CX-50, CX-30, CX-5, CX-90
Lease offer: Lease a 2024 Mazda CX-30 for 36 months for $199/month with $4,309 due at signing. See offer details.
Mazda’s lineup of SUVs is known for modern design and peppy driving dynamics. This Memorial Day, Mazda is offering 0% APR for 36 months across several models, including the CX-50, CX-30, CX-5, and CX-90. With attractive lease offers, particularly on the CX-30, Mazda provides excellent value for those seeking a fun-to-drive family SUV.
By the way, Mazda’s all-new CX-70 just arrived on dealer lots. Check them out here.
👉See Mazda listings with the power of local market data
Subaru SUVs
Financing offer: 2.9% APR for 72 months for the 2024 Outback, Forester, and 2.9% APR for 48 months for the 2024 Ascent. See offer details.
Subaru is a brand synonymous with reliability and all-wheel drive capability. This Memorial Day, Subaru is offering competitive financing rates on its popular SUV models, including the Outback, Forester, and Ascent. With 2.9% APR available for extended terms, Subaru provides a solid deal for those seeking a durable and capable SUV.
👉See Subaru listings with the power of local market data
2024 Volkswagen Taos
Financing offer: 0% APR for 60 months
Lease offer: Lease a 2024 Taos S for $229/month for 36 months with $3,999 due at signing. See offer details.
The Volkswagen Taos is a compact SUV that offers a premium feel at an affordable price. This Memorial Day, Volkswagen is offering 0% APR financing for 60 months, a rarity in today’s market. There’s also a stellar lease offer at just $229/month.
👉See VW Taos listings with the power of local market data
Tesla Model Y
Financing offer: 0.99% APR for up to 72 months
Lease offer: Lease from $399/month with $2,999 due at signing. See offer details.
The Tesla Model Y is the best-selling EV in America, and one of the top-selling luxury vehicles, period. Rarely does the EV behemoth offer huge incentives like this. For Tesla’s Memorial Day sale, Tesla is offering an impressive 0.99% APR financing rate for up to 72 months, along with attractive lease terms. The Model Y’s long range, over-the-air updates, and extensive Supercharger network make it a top contender for EV fans and newbies alike.
👉See used Tesla listings with the power of local market data
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Summer 2024 Car Market Update: New and Used Car Forecast
As the summer car buying season heats up, some are finding it to be a great time to buy, others not so much. Here, CarEdge Co-Founders Ray Shefska and Zach Shefska provide their summer 2024 car market update, offering the latest insights for the new and used car markets. Is it a good time to buy a car? We’ll answer that question for each kind of buyer. Let’s dive into the latest data and trends to help you make informed decisions, no matter what your preferred set of wheels may be.
New Car Market Summer Update
Have you seen the deals lately? The summer of 2024 is becoming packed full of low-APR deals for new car buyers. With inventory remaining high for some (but not all) car brands, incentives are here to stay this summer. That’s great news for buyers. Check out the fastest and slowest-selling cars today.
We expect new car supply to continue rising slowly and steadily from where it stands today, with an industry average of 72 days of supply. That’s already slightly above normal, meaning that it’s officially a buyer’s market for most, but not all, new car brands.
Unfortunately, inventory is below average for more affordable vehicles, those under $40,000. Who’s to blame for that sad statistic? Unsurprisingly, the automakers. As CarEdge co-founder Ray Shefska notes, “the manufacturers continue to commit more of their production to higher margin vehicles, and those are the expensive models. This naturally creates a lasting shortage of affordable new cars.”
On the flip side, new car buyers interested in luxury models have better leverage due to very high lot inventory as we head into summer 2024. It’s not uncommon for our CarEdge Concierge to negotiate 10% off a luxury car on behalf of a customer.
Here are the brands with the most inventory and most negotiable prices for summer 2024::
- Alfa Romeo
- Audi
- Buick
- Chrysler
- Dodge
- Ford
- Infiniti
- Jeep
- Lincoln
- Ram
- Volvo
Conversely, the brands with the least inventory and toughest prices to negotiate are:
- Honda
- Kia
- Lexus
- Subaru
- Toyota
New Car Brands That Represent Value
The new car brands that we think offer fair value in 2024 are Subaru, Mazda, Kia, Nissan, and Chevrolet. These brands have attainable prices and well-built cars that represent, in our view, good value for the price point.
Subaru is known for straightforward pricing, which can be tough to find these days. Although Kia prices have risen over 40% over the past five years, the quality of their vehicles has increased greatly, and therefore we feel that Kia still represents a good value in 2024. This is especially true if you’re interested in a great deal on one of the fastest-charging EVs out there. Chevrolet’s popular Trax is one of the best budget SUVs out there today. That model alone earns the brand a spot on this short list.
Incentives On the Rise
The good news is that incentives are increasing. Month after month, we’re seeing OEMs offering more and better financing incentives near or at zero percent APR, and generous cash incentives. Lease offers are the best we’ve seen in three years. If you find yourself in need (not just want) of a new car, it’s a good time to buy.
👉 See this month’s best new car offers, selected by the CarEdge Team
New Car Market Rating for Summer 2024: It’s a good time to buy a new car.
You have greater buying power with your money today than you did just six months ago. Say NO to market adjustments. No one should be paying over MSRP for a new car today. The new car shortages are long behind us, no matter what the salesperson might say.
Used Car Market Summer Update
The used car market tells a different story. Used car prices are down about 5% in 2024 but remain high. The average used car listing price is $25,540, which is still $4,000 higher than just five years ago.
Used car inventory remains tighter than the new car market. There’s stagnation in the used market, and that’s not good with prices remaining this high. Prices have fallen fastest for used EVs and luxury cars.
One important factor single handedly makes it a poor time to buy for many drivers: interest rates. The average used car loan rate remains north of 13% APR. This means that even for a $30,000 used car financed for 60 months, you’ll be paying over $10,000 in interest over the life of your loan. Of course, you could try to pay off your loan early to avoid some of that. It’s smart to see how much your loan rate will cost you before you sign any papers. This free calculator is a great tool for that.
Used Car Market Rating for Summer 2024: It’s a difficult time to buy a used car.
The caveat is that if you’re in the used EV market, prices have fallen rapidly in 2024, and you can now get a surprisingly good deal on a 1-3 year old electric car, including Teslas.
👉 Stay on top of the used car market with our weekly updates, powered by Black Book
Empowered Buyers Get the Best Deals!
This summer 2024 car market update offers both good and bad news for shoppers. For new car buyers, the time is ripe to leverage high inventory levels and low APR financing deals. On the flip side, used car shoppers will need to navigate a more complex market with caution. Interest rates remain very high, and that’s keeping many would-be buyers away from used car lots.
As always, being informed and prepared is key to making the best decision for your situation. We want you to have the best tools for the job, so check out what we have for you below (100% free)…
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