Car buyers are in the driver's seat!
New data for the automotive industry shows that deals are even better than we thought they were. The overall prices of cars are the same as they were a few years ago even though our incomes are going up. As a result, the car market is way out of kilter and people who took advantage of the incentives of recent years won’t be buying again for a while. That could mean auto plants in Detroit shut down or even close. So, automakers are doing everything they can to stay in the game. New vehicles with much different looks that cost under $15,000 are the new sweet spot in the market. The heart of the market will hover in the $20,000 to $25,000 range. So, there are more brands, more types of models and more price points than ever. As a buyer, you have more power than you’ve ever had. Just remember to do your homework and get pre-approved for your loan. Used cars are also a real deal, but more work is required to buy one of these wisely.
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