New Vehicle Prices are Climbing. That’s Good News for Used Car Dealers.

The cost of a new vehicle is climbing—and in fact, it’s shattering previous records. For those in the market for a brand new, straight-from-the-factory car or truck, that’s really not the best news. For those who are looking for great value at a used car dealership, though, it’s not so bad—and for used car dealers, it’s downright great.

We’ve got the full scoop for you right here, along with some thoughts on what it all means for dealers.

New Vehicle Prices are Climbing

According to a new Dealer Marketing report, new vehicle prices hit a historic high point in December; in other words, it’s never cost more money to buy a brand new vehicle.

Dealer Marketing “estimates that the average transaction price of a new vehicle was $36,495 in December, which is a 3 percent increase compared to December of 2016 and a 13 percent increase compared to December of 2012.”

The article goes on to say: “The average down payment on a new car is also estimated to reach all-time high in December of $4,056. This is up $227 compared to December of 2016 and $105 from five years ago.”

Of course, new vehicle prices have been rising steadily over the past year or so—and there’s no reason to think they won’t continue to climb. For this reason, there are actually fewer buyers in the market, though those who are willing to buy new are happy to shell out quite a bit of money to do so.

For many consumers, though, these price points have become prohibitive—and therein lies the real opening for used car dealers.

An Opportunity for Used Car Dealers

As new vehicle prices rise, and buyers become increasingly sticker-shocked, used car dealers have a great opportunity to emphasize the value they offer. After all, used vehicles are typically a fraction of the original price, yet they offer the same reliability and the same bells and whistles.

The bottom line for the buyers is that, by buying from a reputable used car dealership, they can really maximize their bang for buck—either stretching their auto loan further or even avoiding loans altogether in favor of a cash transaction.

This doesn’t mean that used cars are going to sell themselves, though. Dealers must seize this chance to highlight their value over the new vehicle market—something that requires a comprehensive marketing plan.

Marketing Your Dealership

That’s where Get My Auto comes in.

We’re a marketing company that works exclusively with independent auto dealers—and we’re happy to help you market your inventory effectively.

Take hold of this opportunity to speak to buyers who are looking for great value. Promote your independent auto dealership effectively. Get help from the team at Get My Auto.