Should I buy a car right now? – Fox 46 Charlotte
(iSeeCars) – Used car prices are at record highs as demand continues to exceed supply amid the ongoing microchip shortage. Used car prices are up 30.4 percent over last year, which amounts to more than $8,000 in average price increases for a used vehicle compared to last year. New car prices have risen too, with the average new car transacting above sticker price. Car companies have also slashed incentives due to the shortage of new cars, which has elevated the average price paid for new cars and caused buyers to pay over MSRP.
The current car market has led many consumers to wonder if they should buy a car right now or wait for prices to come down. Here are some important car buying tips to help shoppers navigate the challenging new and used car market.
- Wait If You Can
The best financial decision is to wait to purchase a new or used car and to keep your current car for as long as possible. New car inventory is expected to improve beginning in the second half of 2022, which will…
Read Full Story: https://www.fox46.com/news/should-i-buy-a-car-right-now/
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