Sales:
(651) 347-4666
Service:
(651) 376-2236
Parts:
(651) 267-4513
Open Today Sales: 8:30 AM-7 PM
Over the last few years, the search for a new or used car was more challenging than normal. The chip shortage caused industry-wide inventory shortages, so many Prescott and Zumbrota drivers turned to used cars, making pre-owned models more scarce. This, in turn, led to higher prices and fewer choices.
If you are in the market for a vehicle, you may be wondering, “Is now a good time to buy a car?” The answer to this question is yes! The market has begun to recover, so it’s easier to find a vehicle that checks all of the boxes on your wishlist for a great price. Red Wing Chevrolet has the details.
Is now a good time to buy a new car? In March of 2023, the average price paid for a new car fell below sticker price for the first time in nearly two years. Dealerships have started to run sales again, and Cannon Falls shoppers have an opportunity to negotiate on price. New car prices are on the decline, and this trend looks like it will continue.
Is now a good time to buy a used car? While used cars may be more expensive on average now than in the past, there’s still good news if you’re in the pre-owned vehicle market. Supplies may still be low, but the market is improving. When comparing data to the spring of 2021, used vehicle prices are relatively stable and are actually beginning to trend downward.
If you are planning to trade in a car and buy new, now is a great time to do so. You’ll get more for your trade-in because there is still a bit of a used car shortage, but you’ll also be able to enjoy falling new car prices. See how much your car is currently worth with our online tool.
If you are ready to begin your car shopping journey, we invite you to the Red Wing Chevrolet showroom to see what we have in store for you. Our team will guide you through the process every step of the way and answer any questions you may have. Contact us for more information.
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