In recent months, various economic factors means that the price of used cars has been rising steadily, and as a result, dealers up and down the country have been struggling to meet rising demand. However, if you’re planning on buying a used car for yourself – whether as a trader or a private driver – don’t give up just yet!
Prices may be rising in general, but you can still get some great deals in online car auctions. In fact, here are just a couple of specific reasons why now is a great time to buy a used car
1. Long waiting times on new cars
Although new cars have a certain allure, they’re proving harder to purchase than ever before. This is because a global shortage of computer chips used in car production has led to fewer new vehicles being produced. Recently, these problems have also been compounded by shortages of copper, aluminium and cobalt.
As a result, waiting times are long, and many customers are being forced to wait up to six months for their new car to arrive. If you can’t wait that long for a new vehicle, then a nearly-new car almost certainly a better option.
2. Now’s a great time to sell or trade-in
Prices for used cars may be increasing, but this also means that the price you can get for auctioning your car, selling it or trading it in has also never been higher. If you auction your existing car and purchase your new one with cash, then you’re in a strong financial position and can use your leverage to get a great deal.
Plus, if you only recently bought your current vehicle, then you may find that you’re actually able to get more than you paid for it.
3. There’s still plenty of supply… for now
Experts predict that microchip shortages could continue until mid-2022. As a result, the price of used cars is likely to continue to rise further and new cars will remain hard to come by.
This will likely lead to more and more people who would traditionally buy new cars buying used and nearly-new cars instead. By acting now, you can secure a used car while there are still plenty of options available. By early 2022, it may be the case that popular makes and models are completely unavailable, or that prices for these vehicles have risen by astronomic amounts.
So, if you’ve got your sights set on a specific type of vehicle (SUVs are proving particularly popular) or you’d like a vehicle from a certain manufacturer, then now may be the time to act before supply dries up.
If you’re looking to buy a used car or a salvaged car, then you’ve come to the right place. Here at RAW2K, we’ve got a huge number of used cars for sale, including models from leading brands like Mercedes and Volkswagen. Our online car auctions are refreshed on a daily and weekly basis, so great deals are always available. Take a look around the site and see what you can find today!
