The cost difference between new and used cars at all-time high

The video discusses the current state of the car market, highlighting the significant price gap between new and used cars. It advises that buying used cars is a financially sound option due to the end of discounts on new cars. The impact of hurricanes has reduced the supply of used cars, leading to higher prices. Buyers are encouraged to act quickly before prices rise again. A survey shows that many buyers expect low monthly payments, but the average payment is higher.

What is the average cost difference between new and used cars as mentioned in the video?

• $40,000

• $20,000

• $10,000

• $30,000

Why might buying a used car be a good financial decision according to the video?

• Used cars are more stylish.

• Used cars have better build quality and manageable maintenance costs.

• Used cars come with free maintenance packages.

• Used cars have lower insurance costs.

How many cars were estimated to be affected by water damage this hurricane season?

• 400,000

• 100,000

• 200,000

• 300,000

What is the expected trend for used car prices in the near future?

• They will decrease permanently.

• They will remain stable.

• They will decrease significantly.

• They will increase after a temporary decrease.

What percentage of people expect to make monthly payments of $300 or less for a used car?

• 46%

• 76%

• 66%

• 56%