The Changing Landscape of Car Buying: A Look at Recent Trends

Over the past few years, the car buying experience has been challenging for many consumers. Dealerships have been stocking mainly high trim levels and adding markups, while used car prices have soared and availability has been limited. However, there is some good news on the horizon as the situation seems to be improving.

Rising Costs and Limited Options

For anyone in the market for a new car in the last four years, the challenges have been evident. The average cost of a new car has jumped by $10,000 in just five years, making it difficult for many consumers to find affordable options. Dealerships have been focusing on stocking higher trim levels, which come with a hefty price tag, and adding markups on top of that. This has made it challenging for buyers to find a good deal on a new car.

Used Cars: A Popular Alternative

With new car prices skyrocketing, many consumers have turned to the used car market as a more affordable option. However, even used car prices have been on the rise, making it difficult to find a good deal. Additionally, availability has been limited, with many popular models selling out quickly.

A Light at the End of the Tunnel

Despite the challenges faced by consumers in recent years, there is hope on the horizon. The situation seems to be improving, with used car prices stabilizing and availability starting to increase. This is good news for anyone in the market for a new or used car.

For more information on recent trends in the car buying market, read more here.