The car market has been in a steady downward spiral over the last 10-11 months. The market is crashing and dealers are showing clear signs. Between insane inventory levels across the US, massive discounts to move inventory, 0% incentivized interest rates left and right and the TYPE of vehicles dealerships are choosing to put on their lots.. All signs point toward a car market crash. What say you? I've never seen so many $20-35K vehicles on dealership lots until now. They know people are struggling... Dealers know people can't afford those expensive cars right now, they just can't in this economy. So what are they doing? Selling CHEAP cars to people. The AVERAGE new vehicle sale price in the US in 2024 is $47,455. That's UP from $36,500 back in 2019. MSRPs have spiked across the board 36% since 2019. Car prices are just a SMALL part of the problem too. Mortgages, rents, groceries, insurance, etc... Everything has gotten out of reach for Americans.
I think right now is the best time to buy a new vehicle because YOU are in the DRIVER SEAT. You control the deal entirely, you have loads of vehicles to choose from and can negotiate a stellar deal right now, several thousand dollars off MSRP and great interest rates.
Let me know your thoughts on the current car market. Do you see things getting better near you? Or worse? What types of vehicles are you seeing on your local dealership lots?
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