Buying a Car Now Is Brutal—New or Used. Read This First.
If you are in the market for a Car, buckle up. The latest consumer-price index confirmed that Car prices have continued to climb. With new models selling for above sticker prices, and used-car prices hitting record highs, it can seem impossible to find a good deal.
“All of what you thought you knew about Car Buying from last year, two years ago, six years ago, however long it’s been since you were in the market, has changed,” says Ivan Drury, an automotive analyst for the car-shopping website Edmunds.com.
Angela Hill, a 36-year-old recruiter in the Orlando, Fla., area, has her heart set on a 2021 Honda Civic Hatchback EX—in white. She looked at used 2020 Civic models, and said they not only were similar in price to the new models but also had thousands of miles on them. Despite calling around to multiple dealers, Ms. Hill said she has not yet been able to get anyone to negotiate on price. “They’re just not going to because it’s their market,” she says.
Ms. Hill has been watching YouTube videos for tips, and has also enlisted the help of an Auto consultant to assist as she looks at her options.
Analysts say there are still ways to score a deal, although it requires a considerable amount of research and planning. Here’s what to do if you are in the market for a vehicle.