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.
A car-buying expert gives a few tips and tricks for consumers looking to buy a car.
Drury acknowledged that sometimes people can’t plan for when their car decides to unexpectedly die on them, but the farther you plan, the better your car-buying experience will be. "Those prior-model year vehicles, they don’t suddenly sell out at the end of the year. I think it’s a common misconception that suddenly inventory disappears; January 21, there’s not more of the prior-model year. That’s not the case. In a typical year, you’ll see 20% or 30% of cars sold in January still from last year. In February, you’ll still see it at around 10 or 15%," Drury continued.
A quick Google search will give you the answer to when the next redesign of your dream car will come out and you can plan your car-buying options accordingly, Drury advised. The price of used cars nowadays have gone up around 30%-40%, according to Drury, and they are ranging in the low $20,000s. "When you look at the new market, they’re finding out cars are selling at MSRP or above — which is unheard of," Drury offered. "Usually, that’s like sports cars, exotic vehicles."
"They might be able to give you a 0% APR, 1.9% APR, or something like that. So, that’s the other good thing is if you do finance with them and you have credit that’s applicable to some of their incentives, you will absolutely get the best rates. No bank is going to give you free money. They’re not going to give you 0%, but an automaker will," Drury added. FILE - Chair Maria Cantwell , D-Wash.
"With these new EVs that are being launched, there were so many consumers that rose their hand and put down reservations nearly a year ago that, if you just hear about one of these new EVs, and you think you’re going to go to the dealer’s lot and get one - impossible. Unless you’re wanting to pay absurd markups, then it’s just not going to happen," Drury said.and GMC’s Hummer have already been spoken for, according to Drury.
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