The pandemic dramatically altered our lives and continues to do so in a multitude of ways, including the cars we drive and whether we should replace them for a higher price, or repair and maintain the ones we have.
Many people are opting to keep and repair their vehicles, causing a surge in business for local auto repair shops.
A shortage of microchips has caused auto manufacturers to halt production, making new vehicles more expensive and harder to find. Supply issues are shrinking the number of available cars on the lot, with many of them arriving pre-sold. This eliminates negotiating ability.
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hop-Story-3-1024×683.jpg” alt=”” class=”wp-image-4731″/>“We can’t negotiate offers on cars because there (are) no cars,” said Marcelino Santos, sales advisor at Subaru of North Tampa. “There is going to be somebody that pays me over $1,000 for the same car because they need (it).”
The lack of new cars has also driven the price of used vehicles up 16.1% from a year ago, according to the U.S. Bureau of Labor Statistics.
The combination of new and used vehicles being in short supply and owners choosing to maintain their vehicles has created a phenomenon. According to S&P Mobility, the average age of cars on the roads is now over 12 years old, the oldest of all time and climbing.
Marcelino’s advice? If you can, it’s worth the wait to buy new. “The new one is going to have the price from the factory. A used one from the same year is going to cost you more money than the new one. The reason why? Because you can have that one now.”
If you choose to shape up the ride you already have, do the research and read reviews from your local auto repair shops. Reputable locations will examine your vehicle for free. Fix To Go in Tampa checks vehicles before charging and offers repairs at a competitive rate.
