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Why? There are a few reasons, including COVID-caused factory shutdowns, supply chain issues, and the highly publicized microchip shortage. This has led to new car production being drastically reduced. This has had a ripple effect on used cars as well: fewer new car means fewer trade-ins and former rental cars hitting the used market. The result: both new and used car prices have hit an all-time high, with the average selling price of a new car totaling about $45,000.
It's not impossible to get the car you need at a price you can afford! Here are 4 tips to get you through this current car-buying market and into the car you need:
Yes, the shortage of new and used vehicles in the marketplace is being felt by all. However, there ARE vehicles being produced and delivered, and trade-ins being taken every single day. And, AS ALWAYS, our Auto Advisors are here to help our members save time and money on the purchase of new and used cars, while taking advantage of competitive credit union rates and products. All in a safe, efficient, and hassle-free manner.
Category: Car Ownership
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