With Titles like 11 Fake Fees, to Don't Say I'm Paying Cash at Car dealerships, and Car Shortage Crisis, and Car Dealer Says Bring the Car Back!... The Homework Guy Team publishes videos to help Car Buyers. Then we added Cash Buyer Negotiations, and Held Hostage at a Car Dealership, No Haggle One Price Car Dealerships, How Much do Used Car Dealers Pay for Cars?

The Homework Guy Team provides car buying consumers with information, automotive news and updates, industry outlook, buying and selling advice, and other help to level the tables. The public face of THG is Kevin Hunter and the master negotiator, Amazing Elizabeth. Tons of time and research goes into every show, with several projects always on the table, all with the goal of getting it exactly right. From Automotive News Updates to vehicle shopping advice and assistance, The Homework Guy Team is the best there is.

New Car Inventory rises to 3-year high
Cox said the nation's inventory stood at more than 2.7 million vehicles to close out the year. Here’s a breakdown of the key information, followed up with 2023 US Sales Totals: who’s up and who’s down? I’m Kevin Hunter The Homework Guy and right across the way from me is the Amazing Elizabeth, the Homework Gal. Listen, even if you are in the market for a USED CAR, new car inventory has a big impact on used car buyers. Liz, you’ve done a ton of Black book valuations, what have you seen lately with our channel members looking for used cars?
Great question, Kevin. Going back about 6 months ago, used cars were consistently selling at Black Books' clean retail level, but all of that changed with the arrival of a falling used car market. The cars people are asking me to book out right now are regularly falling on the low end of the retail spectrum, and I’m talking about prices at the average retail numbers or even at the rough retail numbers. Now, I must caution people not to get confused that I’m talking about the cars actual condition, because I’m not. I’m actually talking about the condition of the car market. To explain further, What I’m talking about is a retail range of prices that go all the way from a low retail range which is the rough retail numbers on up to a high retail range of x-clean retail. When you drop down from the high retail range in a sellers market to the low retail range of a buyers market, that is often a price adjustment of thousands of dollars. That’s a huge savings.

Yes, thousands of dollars saved in just a few months time! It’s not too hard to figure out why- if there are new cars available, at attractive prices, more people decide to BUY a new car and then trade-in their old one, thus putting more used vehicles into dealers’ hands. And to move these used cars, dealers have to sell at reduced prices!
Right now, as Liz said, that’s the low range of the retail price spectrum. Literally every channel member we are working with right now, especially if the vehicle is used, we are coaching them on what a good retail price is right now, based on Black Book of course! And that number is a reasonable number, that any reasonable and market savvy dealer ought to take it or you as a car buyer ought to just leave it. Walk away!

LIZ: So, just like you’ve come to expect from us, let’s dive into the newest inventory report from COX Automotive. And this is great news for both new and used car buyers!

Inventory Rises to 3-Year High: Here’s an analysis of the Impact on the Auto Industry