READ THIS IF YOU NEED TO BUY A CAR AFTER THE POST HAIL-STORM. THE MARKET MIGHT BE CHANGING AND HEre IS WHAT TO EXPECT: For the past 10 years, its been a buyers market in Berks County. That meant that the supply of new and used cars exceeded the demand, meaning that you could practically steal cars and get excellent deals. Things could change since Mother Nature sent her hail balls to damage over 20,000 of our motor vehicles, creating a demand unseen in this area for quite some time. Not only are consumerss cars totaled, but many dealerships lost their entire inventories. Heres some advice, for what its worth, if you are shopping. 1) The insurance checks are starting to be written next week! Once people see what their amounts will be, they will undoubtedly hit the dealerships. Right now is the Im still looking and waiting for my insurance check. Next week they buy somewhere. Perhaps that same car you had your eyes on will be bought by someone else. 2) He who hesitates is lost- Ben Franklin IF you NEED a car, you will be fighting with over 15,000 other hail victims forced to hunt for cars. If you see something you like, at a place you can trust, it might be in your best self interest to grab it while its available. Weve had 3 people look at the same car yesterday, and 4 more people last week looking at that price range for similar vehicles. We wish we had more cars, but.... 3) Quality cars have been had to find at dealer auctions. For the past few years (since Cash for Clunkers in 2009) the cheaper cars were crushed and taken out of the market. Dealers have been struggling to find good used cars. As a result, what was once a $10,000 car is now a $15,000 car, a result of reduced supply in the market. 4)Those searching for the $10,000 car with less than 50,000 miles will have to fight like they are in a super store during Black Friday. 10,000 will give you a payment of low to mid-$200s, and is what everyone is budgeting. Most cars you will see will have higher miles, especially SUVs with the third row seat. Grab them while you can and get extended warranties and gap insurance to protect you from the car losing value once the price bubble pops. Also look at your budget and see if you can afford a higher payment, so you can get in a lower mileage vehicle at a higher price point. 5) Buy at a dealership you can trust and cares about their customers AFTER the sale. In a few years, will they remember you when you are trading it back in? Will they feel sorry for you if the car turns out to be a lemon? Take this into consideration as well as the type of car, price, and mileage. Because if this event changes the buyers market into a sellers market, you better go shop at a place where they respect their customers, and want to build a relationship with their customers. And they can only do that by taking good care of them before, during, and after the sale.
Posted on: Sat, 31 May 2014 13:14:58 +0000
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