Before You Purchase a New Car
Now could be the ideal time to purchase your next ride! Since the UAW strike ended, used car prices are steadily decreasing while interest rates remain at historically low levels, making it easier for some shoppers to afford their dream vehicle. Unfortunately, rejection rates for auto loans remain high among those with lower credit scores – putting some buyers off.
But that may be changing, according to Zach Shefska, co-founder and CEO of Young Americans for Auto Advocacy (YAA). As car inventory stabilizes and manufacturers offer more incentives, now may be an opportune time to purchase a new vehicle.
Of course, your decision depends on which model you want, but waiting until September or October when new cars arrive can be an excellent opportunity to find an older version at a great deal. Dealers have access to variable invoice prices from automakers which could result in discounts off MSRP prices.
