Even with the weirdness that is the auto industry right now, every dealer and every automaker has numbers they need to hit. This month is no different and for some people, there is a compelling case to make a trade now.
Inventory levels
New vehicle inventory is tight. For some brands, it’s a critical situation. You know this immediately when you drive onto a car lot. Dealers have gotten really good at pre-selling vehicles that are already on the way to the dealership. Remember, your dream vehicle could be on a convoy truck that arrives tomorrow.
The sky-high used car market
I’ve talked about it for over months. Your used car will never be worth again what it is right now. This is a bubble that will burst and most cars less than five years old will soon drop thousands of dollars or more. I believe this bubble will burst very quickly and when it does, prices will flip and trade values will plummet. Right now, it is not uncommon to see someone have a current used car value higher than it was a year ago. I’ve even seen people turn a profit after owning a car for two years.
Do you have a lease ending in the next six months?
If so, do something now. There is a 99% chance you have equity due to the used car market. Waiting might mean just walking away from your lease versus having a hefty down payment for your next purchase or lease.
What do you have to lose?
If you’ve had any thoughts of making a move in the future with your transportation, why not at least look at numbers with one of our dealers? It is easy to go straight to the dealer’s bottom line when you use my process.
One of the most rewarding things I have seen lately is the people who have been shocked at the deal they got. Many of them went in with an expectation of buying a base model vehicle, or even a mid-level trim package and due to incentives and trade values, they were able to drive out with something much nicer than imagined.
Also, if you’ve been told in the last year that you were too far upside down to do anything, TRY AGAIN. You will likely have a very pleasant surprise.
Don’t have regrets
If you don’t look at numbers now, will you always wonder? If so, time is short, you only have until Tuesday. I’ll ask again: What do you have to lose?
Photo Credit: goodluz/Shutterstock.com
