Friday, May 3, 2013

The Recession's Effect on the Used Car Industry



Though the United States is no longer technically in a state of economic crisis, it's safe to say most of the population hasn't returned to their financial comfort zone exactly. This is especially true in New Jersey, which happens to be the 4th most expensive state in which to live. If residents aren't packing up and moving, they're most definitely finding ways to budget, and you can probably see how this would affect the industry for used cars.

Gas prices are a huge concern, but what's an even bigger concern is whether or not we can afford the car or multiple cars per household that we need to live comfortably. Thus, fewer and fewer consumers are buying used just to save a few bucks. A car's rate of fuel consumption is just as important as the price of the car itself.

And, therefore, the demand for used cars has risen. It's getting harder and harder to find high-quality used cars. It was hard enough for inexperienced buyers to know if they were getting a reliable vehicle in the first place, but now, reliable used cars are leaving the lot just as quickly as they were put on there.

You might be tempted to look to classified ads or trading websites to get a good deal on a vehicle, but truth be told, private buying and selling is becoming so popular that it's not your best bet. People are getting more comfortable with the process, so when you couple that with the fact that you're likely to get a vehicle "as-is," and the diminishing number of reliable vehicles available, you're going to have a hard time finding a good car.

You've got a better shot by looking for used cars for sale in South Jersey at a reputable dealership, then forming a relationship with your dealers. That way, you can call them or have them call you when a car you're looking for comes in, and you can trust that you're getting a vehicle (and a warranty) that stands up to the cost.