Car Brands to Avoid Right Now
Everyman Driver Everyman Driver
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 Published On May 18, 2022

https://quotes.everymandriver.com/ - Get matched in seconds with the right vehicle, at the right price and at the right dealer.

Those looking to buy or lease a new car right now are in a frustrating position when it comes to getting a good deal. Semiconductor shortages have caused most automakers to limit production (particularly GM, Ford, Toyota, Honda, and Volkswagen). When supply is limited, the result is worse deals for car shoppers, reduced incentives, and higher prices for lease deals.

It has become normal for new car shoppers to be paying MSRP and even higher for vehicles these days. It's gotten so bad that GM and Ford have had to specifically ask dealers to stop price gouging or risk punishment. Even with all this however, it doesn't mean good deals aren't available this May - it always depends on the model, which is why you should really consider more than one vehicle when shopping for a deal. By getting bids from multiple dealers, you increase your chance of finding a "desperate" dealer that is willing to negotiate.

Adding uncertainty to all of this is ongoing world conflict. Gas prices have been rising, which causes car shoppers to switch from bigger gas-guzzling pickups and SUVs toward more fuel efficient vehicles, causing downward price pressure on the former and upward pressure on the later. We may also finally start seeing a decrease in demand for new vehicles as consumers are uncertain of the future, although I expect this to be a short-term thing.

Interest rates are on the rise, but several manufacturers are still offering 0% financing - some up to 72 months PLUS cash back in May. Many have also introduced loyalty bonuses, so if you do have a lease return coming up, this could put an extra $1,000 to $2,000 in your pocket.

Used car prices are still near record highs right now. This is great if you have a car you can sell or trade-in right now, but if you need to buy one at the same time, it kind of washes away the extra profit. The best case scenario would be to sell your used car now, and wait a few months to buy a new one.

(Note: incentives can vary greatly by region; these figures may not be accurate in your local area. Always verify with your local dealers)

https://quotes.everymandriver.com/ - Get matched in seconds with the right vehicle, at the right price and at the right dealer.

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