Buying a Car 2021 Edition
Buying a car is a big decision that can feel overwhelming at times. Should you buy new or used? Should I purchase or lease? How big of a car payment can you actually afford? Throw in a pandemic and a global microchip shortage that has caused the supply of cars to dwindle and you’re left with a new set of complications that is unique to 2021.
Understanding how to buy a car in 2021 means that you may need to adjust your game plan as supply constraints and uncertain market conditions may make finding the right car for you a bit more challenging. A great car deal in this unusual market is typically the result of planning ahead, teaming up with a dealership that puts you first, and acting quickly.
It’s always a good idea to consider your financials first. Figuring out financially what the best option is for your budget will help you stay ahead of the game. Checking your credit report ahead of time will also give you insight into what your options are if you are considering financing or leasing.
Identify your ideal car by considering the type of vehicle you currently drive and your needs. Things to keep in mind can include:
- Model style
- Fuel Efficiency
Next, decide whether you want to lease or buy and consider your trade-in value. Know that you’ll have fewer options to choose from because of decreased inventory, but that the same amount of demand is still in place. This means that if you see something you like – it’s better to act sooner than later.
From an industry standpoint you’ll quickly find that because of current vehicle supply constraints, used car values are near record highs which is good news if you’re planning to trade in your current vehicle. However, this also means that because of the lack of inventory, prices may also be up and you’ll need to remain flexible and alert in order to navigate the under-supplied market.
The good news is if you don’t see what you’re looking for, you don’t have to let empty lots stand in your way. Shopping with Holman means you’ll have tools to help broaden your search beyond what meets the eye. You can learn how here.
A silver lining of living in a pandemic affected world has been streamlined online car buying processes, which means you have the option of researching and beginning the purchasing process right from the comfort of home.
Once you’ve weighed things like buying new versus pre-owned, models that fit your needs, and budget you can view inventory conveniently online. Whether you’re buying new or looking to trade-in, you can utilize tools such as the Kelley Blue Book Instant Cash Offer tool to lock in the value of your current vehicle, or Holman GO, our digital retailing tool, for an easy, fast, and transparent buying experience.
Using Holman GO’s Design Your Deal tool will help you browse thousands of new and pre-owned vehicles of every make, model, and color to find the one that fits your lifestyle, budget and needs.
You can complete as much or as little of the car buying process online as you’d like to save you time when you get to the store. Regardless of how far along you are in the process: research stage, setting your preferences, customizing your payment, adding protection plans, or applying for financing, you can visit the dealership at any point and pick up right where you left off.
During any point you can visit in store to see the inventory for yourself, take a test drive, ask questions or receive assistance in any area.
While the auto industry may look different for some time to come, the good news is that if you’re prepared, getting behind the wheel of your dream car can still become a reality.