How to buy a new car with low inventory and high price

Anyone who buys a car during the coronavirus epidemic may have noticed at least two things: there are very few cars and the price of their stickers is very high.

Between inflation and the fear of recession, buying a car in this climate is certainly not for the faint of heart.

“If you go to a car dealership these days, you either see lots of asphalt or you see lots of used cars in places where there will usually be new cars,” said Tyson Jomini, JD Power’s vice president of data and analysis.

More from your investment:
Leisure is expensive – here’s how much you need to save for it
Here’s an easy way to create a monthly budget and start saving money
How this former waitress repaid the 30,000 loan and learned to invest

As of January 2015, the average price of a new car sold in the United States was 30,694. By February 2022, that number had risen 44% to $ 44,232.

“So what we see in terms of car prices really stems from the fact that there is hardly any inventory,” Jomini said.

Watch the video for car buying advice if prices are high and inventory is low.

Register: Money 101 is an 8-week learning course for financial freedom, delivered weekly to your inbox. For the Spanish version Dinero 101, click here.

Check out: I Generate Thousands of Dollars A Month By Teaching Passive Income In Online Classes: Here’s How To Get Started With Acorns + CNBC

Disclosure: NBCU Universal and Comcast Ventures Investors Acorn.

Leave a Reply

Your email address will not be published.