With car inventory shortages, many drivers from Troy and nearby areas have asked us this question. While you may have heard about how it is currently the worst time to shop for a vehicle– such as this Money article, it isn’t exactly true. Despite these shortages, you’ll find now to be a good time to buy a car whether you need one to get around the area or you don’t really want to opt to lease one. Plus, plenty of dealerships, including Ford of Latham, have an increased interest in your old car, so you can earn a decent amount of money back by easily trading in or selling your car (generally even easier than selling it privately in New York). See the details for shopping for a new vs. used vehicle below!
Because of the automotive chip shortage issues the industry has been experiencing, new cars are harder to come by than previously and so, they are more expensive. But before you take this option out of consideration, think about what you’re really looking for. Do you need a new model at the moment or can you wait for a while? What budget are you working with? What is your situation?
Depending on what your situation is, you might find that now is actually a good time to buy a new car despite not being able to get the best deal possible. For example, if your current ride is old and you’re spending more money out of pocket to constantly repair it, you’re probably better off investing in a new model. At Ford of Latham, we still have new vehicle specials and our finance team will help you find a model that’s right for your lifestyle and that’s within your budget in Albany!
Since more and more drivers are selling or trading in their cars due to the high demand, used cars may be more expensive on average now than in the past. However, used inventory has a lot of variety, so it really depends on what you’re looking for and if you’re able to find a model that’s the right fit for you. Some models have only been leased once prior, so they are still relatively new and can last for many years to come. You have to consider how many years you’re trying to get out of the used car, so you have to look closely at the mileage in addition to considering the price.
Like we’ve said about how dealerships are more interested in used cars now, it is definitely a good time to trade in your car in the Schenectady area! Not only can you easily get rid of your current car, but you can also get an additional amount to be put towards your next vehicle. Not to mention, there’s a good chance that you can even get more than the market value due to the demand, so you can even pay off more of what your next car will cost! Figure out how much you’ll have to end up paying after the trade-in with our payment calculator.
Even if you’re still unsure about purchasing a new or used car in Latham, you can also consider leasing a model and then opting for a lease buyout when you’ve decided to own the model for good. Come to Ford of Latham and we will figure out a situation that works for you! Contact us to get in touch with us today.
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