How to Get the Best Car Price in a Seller’s Marketplace – NBC 5 Dallas-Fort Worth


The latest available data shows double-digit increases in vehicle prices in North Texas during the pandemic.

According to the Bureau of Labor Statistics Consumer Price Index for the North Texas region, new car prices rose 11.5% during the 12-month period from March 2020 to March 2021. Used car prices for the same period increased 10.4%.

So how can North Texans come to an agreement? An expert takes a look at how buyers can navigate the market.

Why are prices rising and staying so?

Ivan Drury, senior knowledge manager at Edmunds.com, explains that several factors have combined to impact vehicle prices.

“You see a series of things that no one could ever have tinkered with in the crystal ball. It’s the flea shortage, it’s the demand, it’s the roll-out of vaccination, ”Drury said. “At the same time, the demand for travel has increased. The rental companies also want these cars.

On top of that, the amount of demand for personal transportation is “through the roof,” Drury added.

Drury said automakers don’t expect production challenges to subside until year-end or perhaps early 2022.

“If you have two or three years of life left in your vehicle, don’t worry. This will not apply to you. But if you’re looking for something in one to three months, you should start looking as soon as possible, ”he said.

Where to find leeway

Drury said consumers don’t see as many incentives from dealerships, but it’s not all bad news. Consumers can take advantage of low interest rates and financing discounts.

If you have a vehicle to sell or trade in, you are in a better position to negotiate. Drury recommends that you track the value of your vehicle on a weekly basis.

“Whether you choose to sell peer to peer, sell to a dealership, sell to an online retailer, sell to a CarMax, however you go about it, please check your value, then check what dealers will give you how much ”Drury said. “You’re going to see more variability there than in the price of your next vehicle.”

If you need something short-term and can’t find exactly what you want in your price range, Drury said leasing could be an option.

“Try to get a short-term lease, even for two years. You can even try to negotiate a one-year lease, ”he said. “Play your options and do your research because all is not so good. “

I needed a car immediately

After a car crash earlier this year, Dallas boss David Anthony Temple didn’t have much time to shop.

“Insert a mad pandemic and insert I needed a car immediately,” Temple said.

His wishlist included a lightly used SUV, no older than a 2019 model year. Temple hoped to find one within his budget of $ 20,000.

“I’ve probably wasted about 18 days of my life driving, watching, shopping on my phone at night, every day,” he said.

Temple said he reached out to friends in the auto industry and one of them ultimately drove him to a budget-friendly 2016 Audi Q5.

“It’s a little older than I wanted, but I got a good deal. I got a good price, ”he said.

Temple said if you’re looking for a vehicle, shop around, do your research, and be open to compromise.

“I won’t get what I want. So, I’ll take care of finding a car that will work. And I have a car that I love, ”Temple said.

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