As if high gas prices weren’t enough to deal with, car prices (both new and used) are on the rise, too. Apparently we can’t go anywhere on four wheels without being ripped off.
Here’s Five Fast Facts On Rising Car Prices
- 🔗🔗Chain Reaction - The friggin’ supply chain is mostly at fault, but there’s also a very strong demand for new vehicles all around. People want to hit the road after being cooped up for two years and forced to look at one another.
- 🤯🤯Sticker Shock - An estimated 89% of car buyers are paying up to 5% over sticker price. That might not sound like much, but it adds up faster than an NBA player hearing pregnancy test results.
- 🚘🚗Used, Too - Many dealers are paying ridiculous prices for used cars because they need to fill their lots. It’s probably the first time anyone can offer Crazy Dave a deal so nuts he’ll think YOU are crazy!
- 🚧🚦Slow Down - It does look like prices are starting to level off, but that doesn’t mean they’re going to come back to normal anytime soon. In fact, they might never come back to pre-pandemic levels. The new normal sucks.
- 🚨🚨The Waiting Game - If you’re set on buying new, experts say it’s best to wait until 2024. It’s also been suggested you order your car from the dealer and wait for it to finally arrive.
🔥Bottom line: The automotive industry is another case of the pandemic putting the hurt on everything. If you absolutely need a car, go in assuming you’re going to pay more than what’s on the sticker.
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