725 S Garfield Ave
Traverse City Mi 49686
Garfield Auto Service Center
725 S Garfield Ave
Traverse City Mi 49686
Ph. 231.929.3862
Fax 231.932.7511
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The Hottest Car On The Market? A Used One.

October 13, 2020, 12:00 am

Used cars are a hot item these days. With many families looking to avoid public transportation and ride shares due to the pandemic, buying something second or third hand has become a trend that’s making old cars a must-have for dealers. 

Early in the pandemic, car sales took a hit. For new cars, work stoppages led to inventory shortfalls across the country and, indeed, around the world. The economic uncertainty, embodied in record-breaking unemployment numbers, meant that taking on another monthly payment was simply not possible. 

But as the economy reopened, the new normal offered up a new reality for many families. Those who relied on public transportation like busing and trains were hesitant to return to the tight, close-quarters of mass transit. Many public transportation departments were also forced to reduce service or cut ruts due to demand and a lack of healthy drivers. It has led to several months of new purchasing habits, focused on used vehicles. 

You may have even received emails from dealers begging you to trade-in your vehicle. That’s because the demand for used cars has skyrocketed. In May and June alone, used car sales jumped by 9% as compared to those months in 2019. In June alone, used car dealers sold over 1.2 million vehicles, a record not seen since the Great Recession in 2007. 

For much of the summer, used cars were the only viable options for shoppers. Production of vehicles in 2020 dropped by roughly 3 million in North America, down approximately 30% from estimates. With such short supply, wait times and backorders have stymied those financially secure enough to buy new, encouraging many to opt for used and certified used. 

The last several months have also caused many dealers to quickly adopt more digital sales options. Shoppers have been looking to schedule contactless test drives and to shop dealer inventory online, without having to spend time indoors or with a salesperson. It’s a move that has also resulting in a robust digital effort to recruit trade-ins through emails and even a good ol’ fashioned phone call. 

With such high demand, now is the time to sell your used car. Getting your vehicle in for service may help you get even more than normal trade-in pricing, making it even easier to get into a new vehicle!

 

Posted by Garfield Auto at 12:00 am
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