{"id":202603,"date":"2021-05-21T17:05:56","date_gmt":"2021-05-21T21:05:56","guid":{"rendered":"https:\/\/www.thedetroitbureau.com\/?p=202603"},"modified":"2021-05-28T03:37:08","modified_gmt":"2021-05-28T07:37:08","slug":"its-a-tough-time-to-buy-a-car-heres-some-help","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2021\/05\/its-a-tough-time-to-buy-a-car-heres-some-help\/","title":{"rendered":"It\u2019s a Tough Time to Buy a Car \u2014 Here\u2019s Some Help"},"content":{"rendered":"\n<p>Now that the world is opening again after the COVID pandemic a lot of people are interested in getting a new car.<\/p>\n\n\n\n<p>But things have changed in the past year, so the question becomes how consumers can get the best deal in this brave new world. According to new report from&nbsp;Autotrader.com describing the current retail car sales situation, it\u2019s plainly clear now is a \u201ctough time\u201d to be looking to buy a vehicle.<\/p>\n\n\n<div>\n    <figure data-block_60b094cffab6a class=\"tdb-image alignright w-full md:w-1\/3\">\n\n        <img decoding=\"async\"\n                data-full-image=\"https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/02\/Woman-buys-car.jpg\"\n                data-imgid=\"123436\"\n                data-full-image-id=\"block_60b094cffab6a\"\n                                 data-image-description=\"While inventory levels are improving, new vehicle sales prices are expected to set a new record for January.\"                 src=\"https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/02\/Woman-buys-car-398x273.jpg\"\n                alt=\"New car sales are on fire, despite prices being higher than ever.\"\n                class=\"with-modal-slider\">\n                    <figcaption class=\"\">\n                                                    <div class=\"fc-description\">While inventory levels are improving, new vehicle sales prices are expected to set a new record for January.<\/div>\n                \n                \n                <div class=\"flex justify-between pt-3\">\n                    <button onclick=\"showModal(123436)\" class=\"hidden sm:block\">\n                        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 14.19 14.19\" class=\"fill-current text-white\" style=\"height: 16px\">\n    <path 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d=\"M15.85,5.24,11,.17a.57.57,0,0,0-.8,0,.59.59,0,0,0-.17.4V3H9.82A7.32,7.32,0,0,0,2.5,10.31v1.13a.55.55,0,0,0,.44.54h.12a.55.55,0,0,0,.51-.32A6.17,6.17,0,0,1,9.11,8.25H10v2.44a.56.56,0,0,0,.56.56.57.57,0,0,0,.41-.17L15.84,6a.56.56,0,0,0,0-.78Z\"\/>\n            <path d=\"M14,16H2a2,2,0,0,1-2-1.95V5A2,2,0,0,1,2,3H4A.65.65,0,0,1,4,4.3H2A.67.67,0,0,0,1.33,5v9.1A.67.67,0,0,0,2,14.7H14a.67.67,0,0,0,.67-.65V8.85a.67.67,0,0,1,1.33,0v5.2A2,2,0,0,1,14,16Z\"\/>\n<\/svg>                        <\/button>\n                        <div id=\"share_img_block_60b094cffab6a\" class=\"flex hidden pl-3\">\n\n                            <a\n                                    onclick=\"share_url('https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/thedetroitbureau.com\/2021\/05\/its-a-tough-time-to-buy-a-car-heres-some-help\/?share_image=123436');\"\n                                    href=\"javascript: void(0)\"\n                            >\n                                <svg 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viewBox=\"0 0 26.27 26.27\" class=\"h-4\">\n                                    <path d=\"M13.14,26.27A13.13,13.13,0,0,1,3.85,3.85a13.12,13.12,0,0,1,18.57,0,13.12,13.12,0,0,1,0,18.57A13,13,0,0,1,13.14,26.27ZM5.88,19h0a8.94,8.94,0,0,0,4.81,1.41,8.53,8.53,0,0,0,6.63-2.91,9.15,9.15,0,0,0,2.3-6c0-.13,0-.26,0-.4a6.4,6.4,0,0,0,1.57-1.63,6.24,6.24,0,0,1-1.8.49A3.08,3.08,0,0,0,20.76,8.2a6.41,6.41,0,0,1-2,.76,3.17,3.17,0,0,0-2.29-1,3.13,3.13,0,0,0-3.14,3.14,2.81,2.81,0,0,0,.08.71A9,9,0,0,1,6.94,8.54a3.25,3.25,0,0,0-.42,1.58,3.14,3.14,0,0,0,1.4,2.61,3.05,3.05,0,0,1-1.42-.39v0A3.15,3.15,0,0,0,9,15.46a3.32,3.32,0,0,1-.83.11,2.88,2.88,0,0,1-.59-.06,3.13,3.13,0,0,0,2.93,2.18A6.2,6.2,0,0,1,5.88,19Z\"\n                                          fill=\"#fff\"\/>\n                                <\/svg>\n                            <\/a>\n\n\n\n\n\n\n\n\n                        <\/div>\n                    <\/div>\n                <\/div>\n                \n\n            <\/figcaption>\n            <\/figure>\n    <style type=\"text\/css\">\n        [data-block_60b094cffab6a] {\n\n        }\n    <\/style>\n<\/div>\n\n\n\n<p>There are a couple of reasons. First, inventory is tight. Thanks to a worldwide computer chip shortage, automakers haven\u2019t been able to build new cars to meet demand. This shortage has driven many consumers to the used-car side of the market.<\/p>\n\n\n\n<p>And the availability of inventory on the used side isn\u2019t much better than on the new. All of which presents problems for consumers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What\u2019s a buyer to do?<\/h2>\n\n\n\n<p>\u201cThere\u2019s really no way around it right now, the laws of supply and demand are at play and shoppers should be prepared to pay more when buying a car \u2013 especially if it\u2019s a popular type of vehicle like an SUV or truck,\u201d said Brian Moody, executive editor for Autotrader.&nbsp;<\/p>\n\n\n\n<p>\u201cMuch like the housing market, the new-vehicle market is extremely competitive, making the impacts of the vehicle inventory shortage that much more challenging. Heading into Memorial Day and the start of summer, we expect it will only get more competitive in the near-term.\u201d&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image is-style-image-1-3\"><figure class=\"alignleft size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"488\" src=\"https:\/\/www.thedetroitbureau.com\/wp-content\/uploads\/2011\/08\/Sale-v3.jpg\" alt=\"\" class=\"wp-image-41097\" srcset=\"https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2011\/08\/Sale-v3.jpg 650w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2011\/08\/Sale-v3-400x300.jpg 400w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2011\/08\/Sale-v3-300x225.jpg 300w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2011\/08\/Sale-v3-398x299.jpg 398w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><figcaption>Even used car prices are on the rise, meaning it can make it tough for buyers.<\/figcaption><\/figure><\/div>\n\n\n\n<p>But, as the saying goes, to be forewarned is to be forearmed. Cox Automotive studies show consumers are aware of the computer chip shortage and its effect on new-vehicle production, and thus aware that they will face fewer choices on the showroom floor. Because&nbsp;<strong><u><a href=\"https:\/\/www.thedetroitbureau.com\/2021\/05\/despite-high-prices-limited-selection-new-vehicle-buyers-happier\/\">they expect less, they will be satisfied<\/a><\/u><\/strong>&nbsp;with less.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">People want their cars<\/h2>\n\n\n\n<p>Forty-two percent of in-market car shoppers say they expect to pay over sticker price for a new vehicle, and those willing to pay more than MSRP say they are prepared to accept up to a 12% premium.&nbsp;<\/p>\n\n\n\n<p>Given the average price of a new vehicle is $41,950, that equates to paying about $5,000 above sticker. Yet more than 60% of potential buyers say they are not planning to delay their vehicle purchase, and the sales numbers are there to prove it. Even with low inventory and high prices, U.S. new-vehicle sales hit a&nbsp;<strong><u><a href=\"https:\/\/www.thedetroitbureau.com\/2021\/05\/ford-reports-big-suv-ev-sales-in-april\/\">new record in April<\/a><\/u><\/strong>.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image is-style-image-1-3\"><figure class=\"alignright size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"977\" height=\"750\" src=\"https:\/\/www.thedetroitbureau.com\/wp-content\/uploads\/2015\/06\/Buying-a-car.jpg\" alt=\"\" class=\"wp-image-95969\" srcset=\"https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2015\/06\/Buying-a-car.jpg 977w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2015\/06\/Buying-a-car-400x307.jpg 400w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2015\/06\/Buying-a-car-768x590.jpg 768w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2015\/06\/Buying-a-car-398x306.jpg 398w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2015\/06\/Buying-a-car-812x623.jpg 812w\" sizes=\"(max-width: 977px) 100vw, 977px\" \/><figcaption>Despite lower inventory levels and higher prices, buyers are more satisfied with the car-buying experience these days.<\/figcaption><\/figure><\/div>\n\n\n\n<p>In addition, limited inventory has prompted some consumers to&nbsp;<strong><u><a href=\"https:\/\/www.thedetroitbureau.com\/2021\/04\/used-car-prices-hitting-all-time-high-in-wake-of-chip-shortage\/\">shift toward shopping for used cars<\/a><\/u><\/strong>, which also have gotten more expensive. So many new-car intenders say they will shop for a used car instead.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Forewarned is forearmed<\/h2>\n\n\n\n<p>\u201cTo feel confident as they face these atypical market conditions, car shoppers need to be prepared and have realistic expectations,\u201d said Moody. \u201cLikely this will not be anything like the typical car-shopping experience that most people are used to.&nbsp;<\/p>\n\n\n\n<p>\u201cIf you\u2019re even able to find the exact vehicle you want to buy right now, you probably aren\u2019t going to see major incentives or deals abounding at your local dealership. But doing a little research can go a long way to help you make the most of your car-shopping adventures during these difficult times.\u201d<\/p>\n\n\n\n<p>If you\u2019re a used-car shopper, look at prices for both new and used versions of the vehicle you\u2019re considering. If the new car is only a few thousand dollars more than the same make and model of a used car, it may actually be better to get the new car. The same is true for used cars versus Certified Pre-Owned (CPO), which usually are a little more expensive than standard used cars, but that price gap is lessening in the current market and CPO vehicles offer many worthwhile benefits.<\/p>\n\n\n\n<p>If a consumer is set on getting a new car, consider getting a sedan. The demand for sedans isn\u2019t as high as for trucks and SUVs, so there is a better chance of getting a more favorable price.<\/p>\n\n\n\n<div class=\"wp-block-image is-style-image-1-3\"><figure class=\"alignleft size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/www.thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot-1024x640.jpg\" alt=\"\" class=\"wp-image-129280\" srcset=\"https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot-1024x640.jpg 1024w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot-400x250.jpg 400w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot-768x480.jpg 768w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot-398x249.jpg 398w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot-812x508.jpg 812w, https:\/\/thedetroitbureau.com\/wp-content\/uploads\/2018\/08\/Car-shoppers-on-lot.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>New vehicle buyers who can&#8217;t find what they want may have to shift to a used vehicle \u2014 and may still be out of luck.<\/figcaption><\/figure><\/div>\n\n\n\n<p>People leasing cars might want to buy their leased vehicles, especially if the lease term is nearing its end. Experts do not expect the current market conditions to change anytime soon, so buying out your lease may be a good option amid the inventory shortages.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Know what you&#8217;re buying when buying used<\/h2>\n\n\n\n<p>Carfax\u2019s most recent research on the used-car market supports Autotrader\u2019s position that used inventory is tight and prices are high.<\/p>\n\n\n\n<p>So people in the used market have to be careful that they don\u2019t put down a lot of money on a car that\u2019s had a problematic history.<\/p>\n\n\n\n<p>\u201cWe know vehicle history is critical when determining value,\u201d said Joel Bassam, director of Marketing at Easterns Automotive Group. \u201cThe Carfax History-Based Value tool helps us determine value at a VIN-specific level.&nbsp;<\/p>\n\n\n\n<p>\u201cA vehicle\u2019s history is critical to know and be confident in, it\u2019s something we consider at every step of the vehicles journey, from auction to the customer driving home. Listing our vehicles on&nbsp;Carfax.com&nbsp;has been hugely successful for us, and we attribute that to the work we put in to consider a vehicles history before we purchase and recondition it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since the automotive world reopened, sales have exploded \u2014 and so have prices. So the question becomes how consumers can get the best deal in this brave new world? TheDetroitBureau has some answers.<\/p>\n","protected":false},"author":15522,"featured_media":40337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[7,8,5],"tags":[414,702,703,344,701],"make":[],"post-state":[],"category_old":[],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/202603"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/15522"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=202603"}],"version-history":[{"count":12,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/202603\/revisions"}],"predecessor-version":[{"id":202892,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/202603\/revisions\/202892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/40337"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=202603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=202603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=202603"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=202603"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=202603"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=202603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}