Why Used Cars Are Selling at Record-High Prices
You Can Still Get Great Deals at Zeck Ford, Your Kansas City Used Car Dealership
According to the U.S. Bureau of Labor Statistics, used car prices jumped about 30 percent between May 2020 and May 2021. People are searching for used cars at twice the usual rate this year over previous years.
This could be for a variety of reasons: a slower economy means new cars are less affordable for people, and the national chip shortage has slowed production of new cars. These factors also have pushed used car prices to record highs.
If you’re shopping for a used car, the higher prices and low inventories can really throw a wrench in your plans. Zeck Ford in Leavenworth, Kansas, can help you navigate expensive used cars and shortages to find a vehicle that you’ll love – and won’t overpay for.
Semiconductor Chip Shortage
Automakers need microchips for producing new cars. These chips control major systems, including infotainment systems and even automatic windows. Without these chips, manufacturers simply cannot build new cars, trucks, and SUVs.
And because the chip shortage began at the height of the pandemic, a year’s worth of demand has culminated in the situation car shoppers are in today.
We simply don’t know what the status of semiconductor chips will be, so the future of car manufacturing is up in the air. As people return to work and find uses for their stimulus checks, it’s likely even more people will be interested in purchasing a vehicle, making even more competition for car shoppers. And with fewer new cars on the market, people will be looking at used cars as an alternative.
High Demand, Low Inventory
Because so many people are shopping for used cars, if you want to get one you’ll love, then you’ll need to move quickly. The myriad shoppers are scooping up the best deals almost as quickly as they’re listed.
If you see a car you like, you’ll want to purchase it quickly. And if you’re trading in yours, then it’s likely you’ll get a better deal on your trade, too, essentially lowering the purchase price.
To put yourself in a better position to snag a great deal at a used car dealership, be prepared ahead of time.
- Regularly check used car listings by browsing the inventory at Zeck Ford.
- Work toward raising your credit score so that securing used car financing goes smoothly. You can get financing when you visit Zeck Ford, where our financial advisers will get you the best possible loan terms.
- If you’re trading in your current vehicle, clean it up before visiting our Ford dealership so it’s ready to be inspected and valued. You don’t have to go crazy. Just empty out your possessions and give it a quick once-over so we can value your trade quickly and easily.
Buy Low-Demand Vehicles, Not a Used F-150
If you need a new vehicle and aren’t picky about what you drive, then it could behoove you to buy a used car type that’s in less demand.
Currently, trucks and SUVs are most popular. However, used sedans are less in-demand, so you may find that you get a bit of a better deal on one of these. As a bonus, sedans tend to be more fuel efficient and less costly to maintain; for example, tire prices for most sedans are less expensive than large truck tires.
Get the Best Deal at a Used Car Dealership with Integrity
Sometimes, there’s no way to avoid having to buy a used vehicle. If that’s the case for you, then you’ll want to be careful about the used car dealership you shop at when it’s time to buy.
To make sure you get the best deal, you’ll want to look for Kansas City used car dealerships with policies in place that benefit you.
- High-quality used cars. Look for a car dealership that carefully inspects used cars before they list them for sale, so you know they only sell reliable vehicles.
- Transparent, no-haggle pricing. Find a car dealership that will show you the price of the vehicle upfront, and that will provide comparison to the Kelley Blue Book value.
- No commissioned salespeople. Pushy salespeople want you to spend as much money as possible, so they earn more. Personal shoppers who don’t work on commission will focus on what’s best for you, not what’s best for them.
- Huge inventory to choose from. Low inventory plagues some used car dealerships in Kansas City. Find a dealer with a large selection, so you can pick from a variety of vehicles. This helps you end up with a vehicle you love.
If these required qualities make you feel as though you’re looking for a unicorn, don’t worry. Zeck Ford in Leavenworth meets every part of this checklist, with our 120-point inspection, no-haggle price guarantee, and personal shoppers who work for you.