Car Buyers are still Winners
The price is better today than tomorrow
BUYERS ARE WINNWRS!! Sales teams remind consumers they are still winners in the current used market. Yes they have had to pay a higher price and that price has steadily increased month over month (with a small dip in Aug/early Sep), but they can still win! Case in point, if you bought a car in May, you paid a lot less than you would’ve paid for the same car in July or even now in October. The price of used cars is going to steadily increase as long as the supplies stay constrained. The data indicates it will for the next 12 to 24 months. The messaging of what feels like overpaying today is actually under paying tomorrow; that is, at least until the market starts turning again. If you bought in June, you didn’t lose. You win as compared to the car buyer who could’ve bought in June but waited until October hoping the price goes down. The deal on the desk now is most likely their best deal.
Also the same car bought in June can trade for more money in October and the buyer can upgrade to a new vehicle if available and make out even better than under normal market conditions.
Yes, looking back at historic values, it seems these cars are way over priced, but that’s a relative consideration. We have no idea what the future market valuation will be in 12/24 months.