Buying a Used Car? Join the Crowd!
Buying used cars seems to be the “thing to do” these days. The number of consumers deciding to invest their money in used cars has caused an inventory shortage for many used cars dealers recently. Dealers have seen an increase in customers and it does not look like that is going to change any time soon. In October alone, sales of used cars increased by 16 percent compared to last year. And some consumers are not even trying to talk dealers down on prices in some cases.
One reason that dealers are running short on used cars is because some manufacturers stopped their leasing programs years ago. That means fewer vehicles are coming back from leases and going into the used car market like they used to do. The “Cash for Clunkers” program also cleared out many dealers and about 700,000 of the trade ins were destroyed rather than resold on the lots.
Another major reason for the shortage is that consumers are looking to the used car market for better deals. Some consumers want to pay cash for their vehicle rather than be stuck with a monthly payment. When they buy a used car, they can do that.
If you’ve been considering a used car, get to your dealer today while there are still some available!
