Photo byIldar Garifullin onUnsplash
Pandemic prices are through the roof, especially when it comes to vehicles. On average, used cars have risen 24% from June 2020 to June 2021, and things are set to go even higher! New cars faced a 12%+ increase as well, setting vehicle sales prices at an all-time high. All of this leaves us with a question – do we buy new…or do we buy used? The answer might seem obvious if we look at the percentages alone, but there is more to factor in!
Microchip shortages and supply chain logistics issues are two of the main reasons we see these price increases. As factories in China fell behind with microchip productions, the price of newer vehicles rose, and supply fell behind. Consumers turned to the used vehicle market, cars that already had their microchips and were ready for the road; this led to the big price increases across the used market. We figured we would include some pros and cons of buying new or used, with all of that in mind. Here's why you might want to buy new vs. why you might want to buy used.
Why Buy New?
You can't put a price on the peace of mind that a solid warranty provides. Buying new has the benefit of taking some of the liability off of your shoulders. The vehicle is usually covered for a set number of miles or a given period of time; a used vehicle usually isn't. Beyond that, you have the luxury of choosing exactly what you want and tailoring the vehicle to your exact specifications. The new vehicle option will cost you more, but the added price does come with its benefits.
Why Buy Used?
First of all, even with the 24% increase over the past year, used vehicles come at a lower price than a new vehicle, especially when considering that the average price of a new vehicle topped out at $45,000 this year; yikes. You don't have to deal with the pesky sales pressure and price tactics that come with a dealership, and there are actually great deals out there. A used vehicle might come with some imperfections, but that isn't a problem for a skilled detailing and collision center to sort out.
We suggest that you weigh your options and find the best solution for your family's needs. A used vehicle might be the perfect choice for you. If you go with a used vehicle and it comes with some imperfections, you can have it looking brand-new in no time. Find a trustworthy collision and detailing center, like our shop, and they can have your vehicle show-ready in no time.
Come to CARSTAR Robert's Collision in Monterey, CA, if you need help getting your used vehicle ready for the unveiling. Treat your new family member (vehicle) with all the love and affection you treated your last vehicle, and we will do the same. We employ a fully-staffed team of collision repair and detailing specialists that make it their mission to have Monterey County looking as best as they can. Please, don't hesitate to schedule an appointment on our website, and we can start a conversation!