For those who don’t know, COVID-19 has widely affected the used car market since March 2020. Since #thevid has hit, the market has skyrocketed. The used car market has been booming with car prices continuing to rise.
People are just not interested in buying new cars right now. Many do not want the extra debt during these unpredictable times. This has caused a giant boom in the used car market.
With the competition of everyone trying to buy good us
ed cars there are hardly any left for sale. This has caused an increase in used car pricing and lower availability of good used cars.
As these vehicles have become harder to find, I have found more and more bad cars throughout my inspections lately.
Here are the real numbers:
On average, 3 out of every 4 car inspections need well over $1000 to make it a reliable vehicle.
That means 1 in 4 cars is a good reliable vehicle.
That takes a lot of searching and vehicle testing to find that 1 in 4 vehicle. It is very important to take your time when finding the right used vehicle. Do your research and hire a pre-purchase inspection company, Better Cars, to evaluate the vehicle.
Due to the difficulties of finding a good used vehicle, many are settling for used vehicles in poor condition. Most used cars that I have done inspections on this year have major issues. With more poor condition vehicles on the market and more demand for vehicles, it is extremely important to get a pre-purchase inspection. In the long run, a pre-purchase inspection will save you thousands and you will know your driving away with a vehicle in good running condition.
Here’s my prediction on what’s gonna happen with the used car market. Right now we are going through winter so the used car market is starting to go down like it does every year during winter. I believe it’s gonna keep going up through the spring and summer and come next winter it was going to crash for good. New cars will be so discounted next year people will just start buying new cars again. This is just purely my prediction based off my data and what I know.
Better car inspections wishes the best for everyone right now and strongly encourages people to get pre-purchase inspection before buying a vehicle. It will most likely save you thousands. You can visit our website at bettercarinspections.com