Used Car vs. New Car Prices In 2021: Which Is Better?

At one time, it was common to save money by buying a used car instead of new. Well, that was before and now we are living in 2021, a year where everything seems upside down and backwards. It can actually be cheaper to buy a new car now vs. a secondhand one! Why is this?

New Car Shortage

The jump in used car pricing can be blamed in part by the shortage of new cars. The number of new vehicles available has dropped significantly and production still hasn’t caught up.

Production of vehicles in the past year was hit hard by the pandemic and a global chip shortage. Semiconductor chips are used in many electrical devices, including cars. During the COVID-19 pandemic, many people had to stay home and they upgraded their electrical devices, causing a need that the supply could not keep up with. The shortage has forced several automakers to cut vehicle production.

Used Car Demand

Buyers unable to find what they want at new car showrooms are turning to used car lots.  But, with the high demand and the shortage of used cars available, car values are not depreciating like they once did. In fact, some of them are rising in value!

Taking Care of Your Current Vehicle

The best solution for the moment is to preserve the vehicle you currently own. We cannot stress enough the importance of preventative maintenance. This includes…

• Oil Change– When and how depends on your vehicle’s requirements. Check out what your owner’s manual recommends or ask your mechanic for suggestions.
• Tires– During a routine oil change, your service provider will inspect your tire pressure and tread. It may be time for an alignment or new tires.
• Fluids– Brake fluid, transmission fluid, and coolant are all essential to the function of your vehicle. They need to be checked and replaced on a regular basis.
• Brakes– Your brakes are really important and should be checked if they are making any noises.
• Hoses and Belts– The hoses and belts should be checked frequently for any cracks or other damage.
• Battery– Outside temperature, battery age, and long periods of non-use can all affect battery life. A well-maintained battery can keep you from being stranded on the side of the road.

Preventative maintenance is the best way to keep your car in great working condition and help prevent major repairs. Your car is guaranteed to last longer and perform better with regular service. It is worth the investment of quality preventative maintenance service to protect the investment of your vehicle.

Any NARPRO shop can help you with preventative maintenance. We only recommend independent, family-owned, full-service auto repair shops that have passed 26 rigorous tests. Check out our recommended auto repair shops near you.  It’s the easiest way to find an honest mechanic in the Valley!