In recent years, auto manufacturers have stumbled over themselves attempting to give customers reasons not to wait to buy cars. But due to a seller-favoring market, low or zero-interest financing, rebates and discounts may be fading away in the short-term, making it wise to wait if you’re considering a car purchase.
The Los Angeles Times quotes car-buying experts from Edmunds and TrueCar.com who say shortages caused by March’s disaster in Japan may lead to high prices and less leverage for customers. Analysts quoted in the story say there may be 700,000 fewer new cars on the market this year due to stifled production.
Used cars are also rising in value, with a three-year-old Ford Explorer now worth more than double what a three-year-old Explorer was worth in 2007. Rental car companies, which haven’t been purchasing as many cars and unleashing as many used models onto the marketplace, are partially responsible for the rising used car values.
If you are thinking about buying a car, when do you plan on doing so, and how long are you willing to wait?
Best option for car shoppers: Postpone buying [Los Angeles Times]