Until very recently, purchasing a pre-owned vehicle made a lot more financial sense than purchasing brand new. Just like most things in the world today, the car market is upside down. Over the past few months, the prices of new vehicles have come down. Most vehicles are still selling for sticker price, but we are seeing dealer incentives that show the market is softening.
Recently, we helped Susan B, a senior lady from Scottsdale, who wasn’t purchased a vehicle since 2000. She was referred by a long-time friend and client. She asked for assistance in finding a 2022 or newer Honda Civic with less than 20K miles. Everything we found was priced in the range of $25-30K. A 2024 Civic EX was available in the color of Susan’s choice was available for $28,000. Susan stayed under her budget of $30K, and got more than she ever expected.
This seems to be the way of the world in the auto industry at the moment. With wild fluctuations and misinformation rampant, it’s important to have the most up-to-date facts available. Newman Auto Network analyzes the market each day, spotting trends that help their clients know whether to hold off purchasing a new or pre-owned vehicle, or whether it’s best to hold off if possible.
