Anyone who has visited a car dealership during the coronavirus epidemic has most definitely noted at least two things: there are very few automobiles available, and the ones that are available have extremely high sticker prices.
Purchasing a car in current atmosphere, which is characterized by inflation and the threat of a recession, is not for the faint of heart.
According to Tyson Jominy, vice president of statistics and analytics at J.D. Power, “If you walk by a car dealership these days, you either see a lot of asphalt or a lot of used automobiles in spots that would ordinarily be reserved for new cars.”
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During the first month of 2015, the average price of a new automobile sold in the United States was $30,694. By February 2022, that figure had risen by 44 percent to $44,232, a staggering increase.
“So what we’re seeing in terms of car prices is basically a result of the fact that there’s so little inventory available,” Jominy explained.
Take a look at this video for tips on how to purchase a car when prices are high and inventory is limited.
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