4 Reasons Why You Shouldn’t Be Worried About Rising Used Car Prices

The hottest news surrounding used car sales in Greer, SC, is the rising prices. For the first time in history, used car prices rose in 2021 and the month of June saw the greatest inflation. Used cars costed 10.5% more in June 2021 than they did in May and the average prices soared to nearly $22,500. People are naturally panicking. Consumers have always turned to the used car market for affordable vehicles. But we have listed 4 reasons for you here that clearly state that you need not worry. Used cars are and will be the go-to-market for enthusiast buyers as long as dealerships like Family Auto of Greer operate in the field.

The rise in prices is temporary

The overwhelming demand for used cars in 2020, fueled by the pandemic, started the rise in overall prices. Things normalized towards the end of 2020 when car rental companies sold a host of their fleet which arrived in the used car market. In 2021, the demand normalized across all sectors, and those very rental companies started buying cars, often from used car dealers. Combined with the semiconductor shortage, new car production halted in the country and the prices of used cars shot up. All these anomalies should subside and affordable auto sales in Greer should be back soon.

Used cars are still cheaper than new cars

People who wish to buy used cars now tend to be worried about used car prices. However, despite the moderate rise in prices, used cars are still cheaper than new cars. Compared to the average used car price of $22,500, new cars today cost over $40,000 on average. And this latter figure has risen from $36,000 in just over a year. So, if you really need a vehicle now, the best Greer used car dealers are your answer. You pay almost 50% less when you buy used instead of a new vehicle.

Dealerships with a large inventory are immune

Every statistic that we are now seeing in the news is an average figure. The average price of used cars rose by 10.5% in a month, not the price of every vehicle in the market. If your budget is $13,000, you can still find a quality used car in that range in an auto dealership in Greer with a massive inventory. Take Family Auto for example. We are spread over multiple locations in South Carolina and we maintain a large inventory. No matter which direction the market prices move, you are sure to find a used car of any year, make, or model that ultimately decides the vehicle’s price. Visit Family Auto and stay immune to the rising prices phenomenon

You can take advantage of the rising prices

Used cars are selling for higher prices now and you might have to pay more than, say, a year back. But this also means that you can sell your old car at a greater price now as the market average has risen to record highs. Trade-in your vehicle at the best auto dealership in Greer and claim a high resale value. Use the dollar amount in the down payment for your next used car and offset the effect of inflated prices. This is exactly what you get at Family Auto of Greer with our competitive trade-in rates. Rising prices are not an ominous thing. You can design your way out by buying from Family Auto and using its impressive deals.