Why Now Is The Best Time To Buy A New Car

We have all seen the news, supply chain disruptions, microchip shortages, rising used car prices, empty car lots – what is happening?

The pandemic has been extremely disruptive to the auto industry with Covid related parts manufacturing shutdowns around the world along with a worldwide microchip shortage have led to a huge decline in new vehicle production while generous Government programs and strong savings rate have stimulated demand for those same vehicles.

So, why is now a good time to buy a new vehicle?

Interest rates are about to rise
Governments around the world have all been signalling of pending increases to prime interest rates to help curb price inflation. Finance rates for car loans are fixed over the term so by buying now rather than later will save your thousands in potential interest charges. Just a 2% difference in interest rate on a finance contract of $40,000 over 84 months represents $2900 in additional interest over the term of the loan. Since auto loans are for fixed rates, you don’t have to worry about your payment going up when interest rates rise. Spokane Hyundai is offering 0% APR for 48 on select New Hyundais. Lock your rate now!

Your trade-in value is at an all time high
According to Kelly Blue Book, the average used vehicle is worth almost 40% more than it was prior to the pandemic. It makes sense to maximize your trade value now, before supply increases and values drop. Click here to see what your car is worth.

Fair New Vehicle Pricing
While used vehicle prices have risen tremendously, there has been much less of an increase in new vehicle pricing. Since Spokane Hyundai hasn’t marked up vehicles, you can still pay a reasonable amount for a new vehicle. We have a great selection of new inventory.

The smart buyer knows that now may be one of the best times ever to buy a new car.