Thursday, 06 May 2021 19:14

Edmunds Experts Offer Tips on Car Shopping During Chip Shortage


...the value of your vehicle so you know how much extra cash you'll be working with toward your next purchase.


Consider other vehicle categories.


Trucks and SUVs are selling like hotcakes. If you're comfortable with the idea of buying a passenger vehicle like a sedan instead, you might have better luck in finding more options.


Determine if you really need to make a car purchase right now.


If you're working from home for the rest of the year or don't require a vehicle to get around, you could take advantage of the hot market for used cars and sell your vehicle, but then hold off on making a new purchase until supply levels start returning to normal.


"At the rate we're going, it's going to be a lot tougher for car shoppers to find exactly what they want this summer, so doing extra research online before you even set foot in the dealership is highly recommended," said Ivan Drury, Edmunds' senior manager of insights. "You might pay above list price and drive a bit farther to get the car that you want, but if you know you're going to need a new vehicle in the next few months, definitely pull the trigger now before this situation gets any worse."


Source: Edmunds


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