For the first time in several years, new car purchases may be on the rise. With the economy still in a stagnant state, and many family finances struggling to make ends meet, finding a vehicle that is worth the financial investment may no longer lead you to the used car. If you are considering a used car purchase in the next few months, consider the reasons why the new car purchase, or lease, may be the better option.
Rise in Used Car Demand
When demand for an item rises, so do prices. Because more and more families are turning to the purchase of used cars, the used car sellers have raised prices as well. No longer is the used car considered to be a wayward purchase for the financially unstable. In today’s economic climate, the used car is in high demand and, as a result, car dealers and individual owners are filling demand with accompanying higher prices. The price gap, between a new and used car, may be significantly smaller in the coming months.
Used Car Shortage
If you have your eye on a particular model of used car, you may be hard-pressed to find it. With the rise in demand in used cars, many “smart purchases” in fleet rental cars may no longer be available. What was once a great way to pick up a good financial deal on a used car, fleet rental cars are scarcer which leaves many used car shoppers with no option other than to purchase a new car in that same make and model.
Natural Disaster Impacts New Car Prices
With many vehicles and vehicle parts made overseas, the impact of financial disasters is nothing to be ignored. Struggling to boost sales, many new car auto manufacturers are willing to drop prices in an effort to boost sales for growth and earnings reports. So, capitalize on the unfortunate natural disasters – such as those in Japan – and look for new car deals that can’t be beat when sale prices decline in an effort to boost vehicle parts purchases.
Whenever you are searching for a large ticket item, such as a vehicle, it is important to consider leases as well as purchases and, when purchasing, to consider used cars as well as new. Depending on the make and model of car you wish to buy, you may find the price gap is lower while the demand is higher, ultimately leading you to the decision that a new car is the best route to take.