It’s true, the price of used sports cars has sky-rocketed recently. Additionally, the process of purchasing a used vehicle has never been more challenging.
The pandemic has created a perfect storm of many damaging factors, which include a shortage in shipment, decreased supply of new vehicles from car manufacturers, low interest rates, and high demand. This is exactly what makes the used car market what it is today, and why you should definitely look into buying one of the best used sports cars that you can afford.
According to Kelley Blue Book, the average new vehicle price increased $2,527 (up 6.4%) from June 2020, while increasing $928 (up 2.2%) from May 2021. The Federal Reserve also estimates it will be between six and nine months before inventories rise and shipment shortages improve.
So, if you’re looking out for one of the best used sports cars for your pleasure, then this blog will help you delve into the multiple factors affecting the used car market in the United States. This
sports car buying guide will also help you know everything you need to know before you buy one of the best used sports cars that you can afford .
Take advantage of the low demand and high supply
The total supply of used vehicles available across the United States stood at 2.45 million vehicles at the beginning of July 2021. This figure is up from 2.38 million vehicles at the start of June. Though looking at the bigger picture, the used vehicle inventory across the United States saw a 6% increase from this day in 2020, but 11% below what it was in 2019.
To make sense of some of these numbers, it means that the used car market is doing better than it was last year during the pandemic, but substantially worse than it was before COVID-19 spread and lockdowns ensued in 2019.
All of this information points to the idea that we might be at a tipping point of some sort, where the average price of the best used sports cars can’t get much higher than it presently is. It is a fact that sports cars will always tend to be in higher demand than SUVs or sedans because they are considered to be luxury vehicles.
Remain flexible with your choice and be ready
The best advice for those who are going to purchase a used sports car right now is to be ready and flexible. Regularly respond to listings and continue to reply promptly when contacted by those who are selling their best used sports cars. Be proactive in contacting people with used sports cars, but do your research before agreeing to seal the deal for a large amount of money.
The availability and supply shortages will mean that you may have to be ready to buy to even stand a chance at purchasing a used sports car right now, but having an open mind is a must. Given the circumstances, purchasing one of the best used sports cars currently could mean more of a take what you can get scenario, than most would be comfortable with. But if you search hard enough, or head over to Car Factory, you could find one that you really love!
With wholesale prices of used vehicles beginning to come down from record highs, the worst of the supply crunch in the used market may be behind us. So head on over to Car Factory, in Miami, Hollywood or West Palm Beach, and find the used sports car of your dreams! You may even call us at 786-406-6234 for any inquiries.