Anonymous wrote:Don't buy a used SUV, problem solved.

This. If you don't mind a mid-range sedan, there are still normal deals to be had. My buddy got a used Kia sedan for a great price earlier this year at Fitzgerald.

Ironically, I've seen a lot of dealer incentives to move the newest Corvettes. They are just not moving off the lot. I wish I had a garage, I would buy one!

Supply and demand

Don't buy a used SUV, problem solved.

DH sold his older car just before the pandemic and was in the market for a new car. Unfortunately, he is facing the same issue. We need 3 cars in our household. We now have 2 cars. Our solution is to wait it out and come with creative solutions. No way are we paying thousand of dollars extra for a car. Carpool, flex schedule etc are our creative solutions for the time being.

OP, I'm looking for the same vehicle as you (3rd row under 40), what have you looked at?

People are spending money they saved during Covid and the chip issue was a real problem. I’d wait until early next year. Car rental prices are insane right now as well but they will come down.

Major news story since about May/April: overall, used car prices are up about 30% since last year (not sure about new car prices). We've been shopping since then and haven't pulled the trigger yet. Will wait a few more months, but at some point we'll need to buy something.

I'm hearing prices are thinking about maybe starting to calm down (i.e., prices are leveling), but the lots around us are still looking pretty empty. And if they level off at "high" that's still not great.

Even Montgomery County schools can't get chips to run the A/C in school buses. The problem is everywhere.

Anonymous wrote:

Anonymous wrote:Because they need/want a new vehicle.

Same as you.

Nope - I’m waiting. I’m not getting screwed with my pants on.

+1. If you can, wait. A little bit of patience will save you thousands of dollars. Same was true of housing. Prices are dropping and market is leveling. Anyone who panicked and bought last year is probably regretting that now.

Anonymous wrote:New car supply chains disrupted by chip shortages, driving up used.

+1

The chip shortage is disrupting supply, but demand hasn't changed all that much.

Anonymous wrote:

Anonymous wrote:Because they need/want a new vehicle.

Same as you.

Nope - I’m waiting. I’m not getting screwed with my pants on.

Some people can’t/won’t wait.

Gross phrase btw.

Anonymous wrote:Because they need/want a new vehicle.

Same as you.

Nope - I’m waiting. I’m not getting screwed with my pants on.

Because they need/want a new vehicle.

Same as you.

New car supply chains disrupted by chip shortages, driving up used.

We were actively shopping right before Covid for a new 3 row SUV. Our approx budget was $40k. We tabled the purchase because we figured we weren’t driving anywhere and the car would just sit. Now everything we looked at is now almost $50k or more. Our salaries certainly didn’t go up 20% and in fact we’re temporarily lowered during Covid.

Why are people willing to pay so much more for cars. If everyone would just stop, prices would come back down.