Due to basic factors of supply and demand, and the current economy, demand for new cars is down while more buyers are shopping at used car dealers and other pre-owned dealerships. While it seems logical that a used car is universally cheaper, reduced prices, attractive rebates, and enticing financing incentives are also contributing to lower new car prices. Many automakers are also providing low- or zero-percent loans, which can make financing a new car cost less than pre-owned vehicles.
All automakers are hoping that incentives will boost demand for new cars yet again. With consumers steering clear of showrooms, many dealers are eager to maintain momentum and move new inventory off their lots. These incentives are designed to aid dealers in achieving this.
With the credit crunch in full swing, buying a new car can still be problematic for many potential buyers. Leasing has always been a solution for buyers who still can’t afford payments of a new car. Unfortunately, finance companies are increasingly reluctant towards leasing since they’ve become incredibly unprofitable. Additionally, dealers warns that the attractive zero-percent financing offers are only available to those who have excellent credit.
While challenges remain for many car buyers, there are still amazing opportunities available. Used cars residuals are increasingly more economic due to the fact that the primary decrease in value has already been accounted for from the initial purchase. Today’s market customers tend to place value at the top of their list when considering the purchase of a vehicle, whether it be new or used. With today’s current automotive economic trends, the used car market demand is high. If you’re looking to trade-in your vehicle, allow us to help.
At Fallon Automotive, we can provide you with a straight forward evaluation of your vehicles value. Our trade-in estimates are just as transparent as our service pricing, allowing you to be confident in knowing that you’re getting a fair price for your vehicle. If you have any questions regarding our trade-in service please give us a call.