Used Cars Are Becoming Costlier – What Do You Do?
If you have followed the news regarding the used car market, you have certainly noticed that used cars are becoming costlier. Triggered by the coronavirus pandemic, the average price of used cars touched a record high figure of $21,558 in the summer of 2020, and J.D. Power says that the cost has only gone on increasing since then. This, in fact, is grim news for all of you who are looking to buy a used car now as no one wants to pay the extra cost that the market puts on commodities. But let us tell you that there is still hope. You can still find a quality used car right inside your budget. Here’s what you can do.
Wait a bit more to buy your used car
The rise in prices is triggered by a variety of factors brought about by the pandemic. First, manufacturers had to close down their factories for a solid number of months in 2020. Second, people lost purchasing power due to the collapsing economy. Both compelled people to buy fewer new vehicles and hold on to their old cars which, in turn, created a dearth of supply in buy here pay here car lots in Greenville, SC. Prices rose as a result. But things are back to normal now. People are again selling their old cars and upgrading their vehicles. The return of normal supply can cause used car prices to drop again and you can wait for that phase to buy your used car.
Or, visit a top dealership with a large inventory
Note that the average price of used cars increased in 2020, not the price of each and every vehicle. Even in this inflated market, you can find used cars that fit your budget if you buy a used car of a specific make, model, year of manufacture, and color. For this, you will have to visit a buy here pay here in Greenville, SC whose inventory is large. A dealership that absorbs vehicles from multiple sources, functions in different locations in South Carolina, and can manage a huge fleet that contains all types of used cars. The motive is to target the less popular vehicles. Although you will get similar specs, the cost remains low as people do not come into dealerships asking for such models.
Why wait? Buy a used car now
There is no knowing when used car prices will come down again. The demand has remained constantly high for nearly a year now. Take the smarter route and buy a used car now from Family Auto where the inventory is one of the largest in upstate South Carolina. We are a dealer with buy here pay here no credit check in Greenville, SC. You can finance your used car with us and we will help you to find a used car at the perfect price. Yes, market movements have caused used cars to become costlier but you can always find a budget vehicle at Family Auto as our inventory is big enough to tackle price fluctuations.
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