Car buying can be a tough decision to make, especially with all the uncertainty in the market right now. But according to industry experts, the best move is to buy your vehicle now. Although concerns about interest rates and inventory are valid, there are many reasons why purchasing a vehicle right now could be a good idea.
Scott Kunes, our Chief of Operations at Kunes Auto Group, explained in an interview with Business Insider, “Often, people are asking me, is this a good time to buy a car or should I wait? Most times I say, don't wait, because we don't know what tomorrow's going to bring. I do think that even though right now may not feel like the best time to buy a vehicle, it probably still is.”
If a car shopper waits for the perfect time with ideal interest rates, bountiful inventory, and great incentives, it's not likely that all three will align anytime soon. While incentives will fluctuate, interest rates may keep climbing, and new inventory will never fully revert to what it used to be before the pandemic.
The good news is that consumers can do their research and identify deals that suit their needs. By using online tools, buyers can find good deals and buy with as much cash as they can safely afford to avoid today's higher rates.
The decision to buy a car ultimately depends on the buyer's priorities. If they prioritize choice and availability, now is a great time to buy. If they prioritize the cost of interest, they may want to wait. However, it's important to remember that car buying is probably never going back to "normal." Therefore, it's crucial to make an informed decision and take advantage of the opportunities available now.
Read the full article from Business Insider here.