I have good news for you if you are in the market for a new or used car! If you have waited to purchase a car for the past year or two, this article is worth the read.
According to consumer researcher, JD Power, new car prices dropped about $600 this fall, to about $45,500 in October 2022. That’s compared to a record high during the summer of about $46,200 in July 2022.
At the same time, used or pre-owned vehicle prices decreased about 2 percent from September to October 2022, and are down 10 percent from one year ago, according to the Manheim Used Vehicle Index. The average price for a used car is steadily hovering in the mid to upper $20,000’s.
If that's not enough reason to finally make your new car purchase, here are a few more:
1. Convenience - Owning a car gives you the convenience of being able to get around easily and quickly. You don't have to rely on public transportation or wait for rides from friends or family.
2. Freedom - Having a car gives you the freedom to go where you want, when you want. You don't have to worry about schedules or routes.
3. Cost savings - Owning a car can be less expensive than relying on public transportation or ridesharing services. With a car, you can save money on gas, parking fees and other costs associated with travel.
4. Safety - By owning a car, you can ensure that your trips are safe. You can choose a reliable vehicle and take advantage of driver-assist features, like lane-keeping assist, blind-spot monitoring and more.
5. Comfort - With a car, you can travel in comfort. You don't have to worry about dealing with uncomfortable seating, crowded spaces, or exposed to the elements.
If you are ready to purchase a new car, give me a call! I would be glad to help you!
Albert Matthews
(901) 692-3496
Homer Skelton Ford
