Whether or not this is your first car or your 10th car, all that stuff you know has to go out the window because the dynamics have changed.
What are those dynamics exactly? In a nutshell, the supply of used and new cars has plummeted to extreme lows, while prices have soared to ridiculous highs. The main culprit is a computer chip shortage that’s constrained vehicle production for months, but other factors have contributed too.
It all means that navigating a car purchase has become much more of a headache than before. Faced with dwindling options and eye-watering price tags, a car buyers decision of whether to buy new, lease a car, or buy used has gotten substantially more challenging.
But buying new is still your best bet for getting the latest technology and safety features.
To make the most of a new-car purchase, consider targeting less sought-after models. Pickups and all-wheel-drive SUVs are in high demand, but you may find better availability and prices if you search for sedans, hatchbacks, and small, front-wheel-drive SUVs.
Leasing, as in the past, is good for people looking to manage monthly payments on a larger or more expensive new vehicle they can’t afford to buy outright. Lease payments are typically cheaper than loan payments. But the downside is you’re paying to rent rather than working toward paying off a vehicle you’ll eventually own.
Leasing has another appeal nowadays: as a stopgap measure to avoid the chaotic car market. Those reluctant to hunt frantically for a vehicle or who can’t afford to pay today’s absurd markups may be better off leasing until the market settles back down.
Coming out satisfied in this crazy market boils down to how much you’re willing to budge on factors like price, brand, options, and how you’re obtaining a vehicle.
The person who’s probably going to do the worst in terms of finding what they want is the person who’s very rigid. The person who’s going to do the best is the person who’s going to be the most flexible on pretty much everything.
Call Lease A Car Direct at 954-859-2444 and have an auto broker get you the best deal on your next vehicle.