Is Now a Good Time to Buy a Car?

You’ve probably heard talk over the course of 2021 and leading into 2022 — like this Money article — that now is by far the worst time to buy a car. But that’s really not true. In fact, some would say it’s a faulty generalization. Why is that? While there are undoubtedly industry-wide inventory shortages, that doesn’t mean that it’s a bad time to buy a car — especially if you need one, and if leasing isn’t the right long-term choice. What’s more, it doesn’t take into account that now is a fantastic time to trade-in your vehicle. In fact, if you’re looking to buy a car in Calumet City and trade-in your old car, the extra boost in value could very well more than offset the higher prices new and used vehicles are currently fetching.

Is Now a Good Time to Buy a New Car?

New cars are, undoubtedly, more expensive now than they’ve been in a while. There’s no getting around that. You may not necessarily get the best overall purchase price or discount. But ask yourself this: what is your situation? How important is a deal? Do you really need a new car now, or can you wait? 

Say for instance, you are driving an old clunker that is constantly requiring more money to repair and you don’t want to sink more into it. Buying a new vehicle — even for less of a discount — can be a smart financial decision. We recommend talking to our finance team about your options. If you’re looking to upgrade from a leased vehicle, you could also stand to benefit from our new vehicle specials.

Is Now a Good Time to Buy a Used Car?

While used cars may be more expensive on average now than in the past, there’s good news for South Holland and Dolton used car shoppers. Used cars that are available near Chicago are being swiped up faster than ever, meaning that many of the ones that show up are coming off prior leases. This also means that these vehicles are, by and large, more reliable than your average used car that you may find in-stock during more “normal” times.

Is Now a Good Time to Trade In a Car?

Yes! Now is the ideal time to buy a car and trade-in your old one. Let’s do some hypothetical math.

Say you use our payment calculator to see if buying a $44,000 INFINITI QX50 is a good idea. Let’s say for argument’s sake that this vehicle would normally sell for $42,000. If you’re trading in a vehicle that would normally fetch $20,000, but now you can get $23,000 for it, you’re already ahead-of-the-game! 

Want to see what the math for your particular situation could be? Use our online payment calculator to find out!