Is Now a Good Time to Buy a New Car?

You’ve seen the news – rising inflation, increased interest rates, computer chip shortages, and a demand for vehicles that is greater than supply. Is now a good time to buy a new car? What about pre-owned vehicles? Is now a good time to buy a used car? The microchip shortage may finally be starting to stabilize, and you’ll likely be glad to know that the situation is not as bleak as it may seem.

Is Now a Good Time to Buy a New Car?

According to Kelley Blue Book, “New-vehicle prices remain high while used retail prices are now in decline. New inventory is slowly stabilizing while used supply is falling.” However, it’s expected that new vehicle prices will slowly start to drop, and used vehicles may even rise in price with the recent boom of used vehicle purchases. This situation makes buying a new car with recent inflation and raised interest rates a more iffy situation, but this also means that you’re going to get much more for your trade-in.

When you combine a high trade-in offer with our new vehicle specials, it can be smart to buy a car now for your Revere commute. We can work with you to see if a trade-in on your current vehicle is a good idea for your needs.

Is Now a Good Time to Buy a Used Car?

We hinted at this above. You might be thinking since there is such a high demand for new cars, it might be smarter to buy used. Is now a good time to buy a used car? It has been, but since inflation and interest rates have risen, many customers have been turning to used automobiles. That means demand, and therefore prices, have gone up for used cars as well.

But, it can still be a good time for many East Boston drivers to buy a used car for the reasons we listed above for buying a new car. For most drivers, a quality used option is still overall cheaper than outright buying an all-new vehicle. And depending on the make and model, you may be faced with a waiting list.

Trade-in offers are the same whether the car is being traded for a new or used vehicle. You can also take advantage of our used car specials. We often have used vehicles with low mileage too!

Check Out the Great Deals at Pride Kia of Lynn

Come see what we have to offer, even if you don’t have a trade-in. Our prices just may surprise you by how affordable they are. Why not get started now by applying for financing online? We’re just a short trip away from Winthrop, so drop by or contact us today!