The Car Pro Show’s, Jerry Reynolds, says the prices will never go down due to year over year rising manufacturing costs. “They’ve been going up my entire life, and they’re never going back down. So, the prices- we’re going to have to live with. The incentives- that’s where the difference comes.” Reynolds said.
He says it doesn’t matter where the vehicle is built- in any part of the world- the costs will continue to rise.
Reynolds says used prices are high now too. He says usually when new car sales are down, used car prices are up.
“We’ve had an extended period of robust new car and used car business- that’s great for people with trade-ins- they’re trade values are sky high, but that’s not good news for people in the market for a used car.” Reynolds said.
He says the deals are there, consumers just have to look a little harder.
Reynolds noted finding the right month to buy the vehicle you want is key to finding added value. He says for example, March is the best month to purchase a truck. “If you are in truck market- it’s a fantastic time to buy. If you’re looking for an SUV or a sedan- you have to shop a little harder to find that deal out there.” He said.
He also points to the uncertainty in the economy- as Americans typically freeze, as they did during Co-vid. Reynolds urges consumers not to hesitate and miss the right time of year.