According to Carfax, listing prices for used cars in January were up 40% from the same time last year.
According to Carfax, listing prices for used cars in January were up 40% from the same time last year.
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According to Carfax, listing prices for used cars in January were up 40% from the same time last year.
Used car prices are soaring and that’s why a lot of people are looking for new cars at The Pittsburgh Auto Show at the David L. Lawrence Convention Center. They said they would rather invest in a brand new vehicle.
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According to Carfax, listing prices for used cars in January were up 40% from the same time last year. Carfax said the average price of a used car is $28,000, which is a record high.
Dan Snyder is looking for a car and said, “Now’s not the time, in my opinion, not to find a used car because you’re going to buy a new car at the same price.”
Snyder said he may lease a vehicle because of used car prices.
Some consumers are keeping the vehicle they have and pay for maintenance so it stays in good shape, until prices go down.
Martin Cumba is a dealer at Sun Chevrolet in McMurray. He said there are many reasons for the price hikes, including the global microchip shortage.
“The prices have gone up. It’s kind of going across the board. A lot of things are more expensive than they used to be. It’s a balancing act, really. We try to make sure that we certify our vehicles, going through a reconditioning process, that way if the customer is going to pay a little bit more that the vehicle they are getting is of a good quality,” Cumba said.
Cumba said supply chain issues have affected inventory, leaving fewer vehicles for shoppers to chose from at dealerships.
Amber Mantia said, “It’s kind of hard because there’s not much out there and everywhere you go there is limited supply.”
“It’s crazy. Looking at new cars you think okay, it’s nice brand new, no one has had it before and at the same time you’re getting a used car and can’t even find them. They are not even on the lots,” Snyder said.
Some consumers are looking for hybrid cars at the auto show to save on rising gas prices.
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