Throughout the pandemic, perhaps you noticed that new car lots looked a little emptier than normal. Thanks to a variety of factors including manufacturer shutdowns and chip shortages, fewer cars were actually produced. What did people do if they needed a different vehicle but a new one wasn’t available? They turned to buying used cars, leading to both high prices and shortages in the used car market.
As our society returns to a new normal after the pandemic, new car production is still catching up and prices remain high. In some cases, new car prices have increased so much over a short period of time that a new trend has emerged – car flipping. Rather than buying a new car and driving it for several years before trading in, some people are buying new cars and then selling them a few months later at a higher price.
Used cars also continue to fetch record high prices. According to the Bureau of Labor Statistics, used vehicles currently cost 53% more than they did at the beginning of the COVID-19 pandemic. That means you may still pay less than the price tag for a new car but you’ll likely pay more and get less compared to pre-pandemic days.
Auto repairs and maintenance in Tempe, AZ
When looking at the car market today, the reality is this … Whether you buy a new or used vehicle, it’s going to cost you significantly more money than it did just a few years ago. That’s why we recommend maintaining your car now instead of purchasing a different one. Even if your current vehicle is in need of repairs or maintenance, having these items completed could still be much cheaper than buying a new car or a new-to-you used vehicle.
At Good Works Auto Repair, we make getting the best auto repair and maintenance services in Tempe easy. Our ASE-certified automotive technicians know exactly what your car needs and when. In fact, we even provide you with a digital inspection report that shows what’s right with your vehicle, what’s in urgent need of repair, and what needs attention soon but can wait until a later date. Armed with this valuable information, you can then make important decisions about your vehicle’s care in a way that fits your budget and your schedule.