In todays economy, buying and selling a car presents a major challenge. As usual, buyers want the price as low as possible and sellers want the price as high as possible.
During our investigation of the current markets, we found that it is indeed still a buyers market. This means that if you are the buyer, you have the leverage right now. You can pick and choose from the available vehicles (and there is an abundant supply of them). With the current low used car pricing, you can strike the deal that you want or simply go down the street and select your vehicle from there. But, read on.
As the seller, the above puts you in the awkward spot of acquising more than when the market is in your favor and that may be changing.
According to The Official Google Blog the trend appears to indicate a recovery for the automotive industry in 2011.
New car manufacturers have retooled and plan to have quality inventories in the new car dealerships. These dealers will give a minimal trade-in allowance and probably unload the used vehicle at auction. This will have an immediate effect on keeping used car pricing low.
This will have a trickle down effect on the used car market, which could be a mixed bag.
With the current high inventory of used cars on the market and the new cars that are heading downstream, there is going to be a
continued stress point for used car dealers and inviduals wanting to sell their older vehicle. This could go on into 2012.
So, as we indicated above, today’s economy is still a mixed bag and is keeping used car pricing down. So as buyers, get out there and get your deal. Sellers reduce your inventories to make room for the upcoming supply of newer used vehicles.
For the buyer an alternative might be to consider modifying your existing car to take advantage of a lesser cost fuel option. While this might seem a bit on the leading edge, some studies have indicated that it might well be a good choice for some.
