The Current New and Used Car Market
According to the host of The Car Care Nut You Tube channel, the current state of both the new and used car market is in a dismal state for the car buyer needing to buy a car right now due to that there is a shortage of both new and used cars.
Because of the pandemic and the chip shortage, production of many makes and models of new cars are significantly decreased; while at the same time, fewer car owners are selling their used cars due to an uncertain future as we wait to see how the pandemic and the economy plays out.
Related article: Consumer Reports Shows How to Be a Winner and Not a Loser When Selling Your Used Car
But worse yet, is the fact that many car dealers are taking advantage of the vehicle shortage by resorting to “…shameful tactics that some dealerships are using to seize the moment and make extra profits from your hard earned money,” states the host of The Car Care Nut.
“With the current climate of the car market some dealerships are becoming very crafty in finding ways to take advantage of the shortages of cars. Honest dealerships will do what’s right and continue doing what’s right. But those who take advantage of the situation are to be avoided.”
Never Do THIS!
So, how are some dealerships taking advantage of their customers? According to the video, dealerships are encouraging the misperception that the value of new—and especially used—cars is quite a bit higher than what their true values really are. And, that if you don’t buy right now at the inflated prices you are asked to pay, that you could very well be left without a vehicle should your current car be on its last legs and in need of replacement.
The worst part of this is that is his prediction of how paying today’s prices will lead to disaster for many car owners tomorrow—debt that will be difficult to get out of.
Related article: Consumer Reports Rates The Worst SUV Deals
Related article: Consumer Reports on How to Assess a Used Vehicle’s True Value
To help the public navigate the new and used car market, The Car Care Nut as an insider to the car market and dealerships offers his “Never do THIS!” advice in the video below on things you should never do if you want to avoid being taken advantage of and ensure that eventually you will wind up with the car you really want and need right now—rather than wind up with buyers’ regret later.
NEVER Do This When Buying a Car New or Used in 20212022
For additional articles about good values in cars today, be sure to take a look at “Consumer Reports Most Discounted New Cars to Buy Right Now” and the “Best Low Cost Used Cars and SUVs That Consumer Reports Analysts Recommend.”
COMING UP NEXT: Car Mechanic Warning About The 6 Worst Used SUVs to Buy on Facebook Marketplace
Timothy Boyer is Torque News automotive reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter at @TimBoyerWrites for daily automotive-related news.