Auto sales companies across the country are set to see a spike in sales this 2014. According to a report from PR Web, the recovery of the US economy has prompted more people to purchase used cars. Brandon Ruiz of IBISWorld, a company specializing in industry and market research, provides more information:
"The recession greatly reduced consumers' ability to purchase vehicles," says Ruiz. Unemployment and asset price declines, including for homes and stocks, cut into consumers' incomes and savings. Consumers with poor credit (a large portion of industry customers) have been among the worst hit. Consumers with D-grade credit spent $11.0 billion at used car dealerships in 2009, a 51.7% decline from 2008.
Fortunately, relative economic stability is encouraging spending on used cars. For example, used car sales are expected to grow to 41.5 million vehicles in 2014, up 1.5% from 2013. The US economy will begin growing strongly again in 2014, and because car sales typically move with the business cycle, car sales are expected to follow suit.
With a large number of used vehicles switching hands at a faster rate, it is becoming important for people who plan to purchase a used car to act faster. However, Baton Rouge auto sales services advise buyers to avoid thinking that they should immediately purchase a car to avoid letting it slip through their fingers. This impulsive buying can lead to buyer's remorse later on.
Used vehicles should be thoroughly inspected before they are purchased. That in mind, here are a few tips to help you determine whether or not a used car is worth purchasing at that moment:
Sunny Days
Rain can easily hide scratches and dents. Poor weather conditions may also force you to rush your inspection. Try to schedule your visit to a dealership when weather conditions are favorable.
VIN
VIN stands for Vehicle Identification Number. If several cars have caught your attention, jot down their VIN. Upon arriving home, you can use the VIN to quickly pull up the history of a used car: accidents, repairs, etc.
Virtual Test Drive
If you currently do not have the time to visit a dealership in person, search their website for a virtual test drive of the vehicle. These videos allow you to take mental notes on what you should be on the lookout for when you do visit in person.
Whether you are in the market for used vehicles or brand new cars for sale near New Orleans, be sure deal solely with trusted dealerships like Baldwin Subaru. Doing so assures you of great customer service and a quality buy.
(Source: Used Car Dealers in the US Industry Market Research Report from IBISWorld Has Been Updated; PR Web; February 25, 2014)
