The prices of new cars pre-pandemic and during the pandemic were completely different from the current ones, and that is, just a few months ago the possibility of buy a car in the usa. And it is that, in the context of the crisis in the midst of a pandemic, the high prices in the market made Americans move away from the idea.
Chip shortages and supply chain issues resulted in low inventory. For this reason, the cars available on the market, had outrageous costs.
But now, after the adversities, come down from price new cars in USAas more vehicles become available. Although not everything is rosy, since the current limitation to acquire them is the interest rates of the loans, which represent the highest level in three years.
New cars fall in price in the United States
According to a report by JD Power, a consumer research firm, the percentage for purchase of new vehicles remains high, in the last two years it has represented more than 24%.
Given this trend, the average price per car for the month of October is expected to be a few hundred dollars cheaper than the record level reached in the third quarter of the year. Given this, the cost of $46,173 per unit, average, for the month of July, is believed to have lowered to $45,599 for October.
According to Thomas King, president of JD Power’s data and analytics division, for a large percentage of customers, buying a new car is still difficult. Especially given the interest rates for car loans, which were over 6% in October.
In light of this situation, according to the expert, it is expected that the average monthly payment for the acquisition of a New car is greater than the previous year, when it represented $664 dollars. Now, that sum would be $711. An amount that not everyone will be able to cover.
Despite this trend, the JD Power representative pointed out that the pace of sales of new cars in USA increased in October as inventory improved, making for a strong month for automakers.
“Although rising interest rates continue to put pressure on affordability, buyers spent more money on new vehicles this month than they did the previous October,” added Thomas King.
Recommendations for buying a car in the US
If you want to take this moment to buy a car in the usaAccording to Noticias Telemundo, experts recommend that you know the value of your used car. Since he could manage to sell it at a very good price, and help himself with that.
And it is that, until recently, the used car sales in usa it was on the rise, of course, again due to lack of available units, and since the market is still a bit shaky on that front right now, it would be a good time to sell your car. Because a good part of the population has had to opt for this option given the high prices of new vehicles.
In addition, you must make a realistic budget, one that includes the repairs and the gasoline price. The inventory is growing, and there are more possibilities to negotiate when buying a vehicle, but according to experts, you should take your time to evaluate which options are best for you.
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