If you're planning to buy a car — new, used, electric, or hybrid — here are some things to consider before making your purchase, according to a car-buying expert.
Buying a car can be overwhelming and stressful under normal circumstances, but with the ongoing supply chain backlog, experts say consumers might have to lower their expectations when it comes to finding the perfect vehicle.
"And that is the case for not just somebody who has a lease, but for anybody who is even flirting with the idea of buying a car new, used, if you’re changing segments. If you used to drive a sedan and you’re thinking about an SUV, think about it as soon as possible," Drury said. "That depends on how you want to look at ‘best,’" Drury offered. "It’s an interesting situation. If you wait till the end of the year, selection is slim, discounts begin.
"There’s always incentive programs that come out at the beginning of the month. You can find out if those incentives appeal to you. And then, when is it typically best to buy and actually transact based upon those incentives would be the end of the month. That is when dealerships try to meet their quota, salesmen are trying to meet their quota. Sometimes, they’ll be a little more flexible on price," Drury said.
Discontinued models mean more discounts because automakers don’t want those cars sitting in their lots and will try to get rid of them to make room for the newer designs. But if you’re looking to go lower than $20,000, you will probably have to start looking at cars that are about 10 years old or older, and while this isn’t exactly a terrible investment, you’re probably going to have issues with the car sooner rather than later.
"It sounds kind of silly and some people don’t trust it nearly as much as they should but at the same time, that is where a lot of great information does live. They keep things as up-to-date as possible. That’s where you’ll find those incentives. If you’re really looking into saving some money, go to the automaker’s website, it’ll be under ‘specials,’ it’ll be under ‘incentives,’ it’ll be under ‘finance,’ it’ll be on their websites somewhere.
But quickly, supply for bigger appliances such as washing machines, refrigerators and even cars were hit, vastly altering car-buying methods, Drury said.
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