Part 4/8:
Zach prompts Ben and Jim to delve deeper into the used car market, revealing interesting trends. Despite wholesale used car prices recently seeing a peak, consumer demand is shifting towards newer models, especially as interest rates ease. Jim notes that buyers are leaning towards new cars rather than two- to three-year-old pre-owned vehicles—indicating a shift in consumer preferences driven by recent economic climate complexities.
With a keen interest in budget-conscious buyers, both Ben and Jim acknowledge that vehicles priced under $30,000 are the prime focus for many. As new car prices remain steep, low payments through financing options like leasing are becoming increasingly appealing, resulting in a rise in interest for electric vehicles (EVs), such as those from Chevy and GMC.