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Cars and Transportation
Reply to "Will car prices go back down soon? "
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[quote=Anonymous][quote=Anonymous]It’s not just the chip shortage; but auto makers have slowed production because of the shutdown and outbreaks, and labor needs. They are trying to ramp back up now, but even when shortage is over the demand for chips has driven the price if the chips up. The labor costs, increases production costs, and inflated price of chips will be evident in the final price. This is for new cars, but used are a function of new prices. I won’t say they will never go down, but prices increase all the time; this may be the time for cars.,if you need a car now your best bet is to buy and hope that they don’t so you can reap your return when you sell.[/quote] long term, if there is inflation, eventually interest rates will go up. With new car loans averaging 6 years, that will absolutely effect what people can afford which will put downward pressure on prices [/quote]
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