I was hoping to buy a car but the prices these days just seem to be out of control. Do y'all think they will just keep going up for a while or are we looking at peak insanity here? When do y'all think they'll come back down if I were to postpone buying a car? Any ideas/insights?
Go take a look at the lots of your local dealers. If they are empty, prices will be high. If they start filling up, prices will go down.
Unless the short supply is all a massive conspiracy to drive prices up.
It's a matter of supply and demand, plus of course overall inflation. Economics 101. Supply chain disruptions and other factors have restricted supply. Additionally, when government spends trillions of dollars that we don't have by creating them out of thin air inflation is inevitable.
It's not only cars. The price of virtually everything have risen significantly. The cost of shipping goods has increased drastically as well. I've even read that the Dollar Tree chain of dollar stores is changing to an up to $5 pricing model since they cannot hold the line to one dollar any more even on the low-end, cheap items they sell.
It's a terrible time to be looking for a car but unless you find a special deal through a friend or relative there's not much choice but to pay the going prices.
I’m with Scotty on this I don’t think prices are going to drop even when chip supply and whatever else catches up. The US is going to inflate like a balloon and there’s going to be a BIG pop eventually.
Maybe not any time soon. A significant portion of the population right now is retirees with a lot of money to spend.
It has gotten even worse. September was an all time high for used car prices
Just buy something that nobody else wants. Low demand equals low price.
Problem is even those are higher in price than normal, but yes that is a good idea.
For new cars i think it depends on the dealer. Before i bought my car i went to a few dealers and the dealers with alot of cars had crazy markups and the ones with a few cars had them at msrp.
