MICHIGAN: The price of used sports cars is at an all-time high and the process of purchasing a used vehicle has never been more difficult. According to Cox Automotive, in June 2021 the average listing price of a used car was up 26% from what it was this time last year. The rise in prices is due to a chip shortage, diminished supply of new vehicles from car manufacturers which puts used cars are in demand, low-interest rates, and high demand.
I’ll explain…
I have been seeking a specific used supercar for about 6 months
And was not willing to settle until I found what I wanted.
If at all possible, wait to buy that used sports car. Dealer lots won’t be empty forever. Car manufacturers will continue to catch up on demand and supply issues. The total supply of used vehicles available across the United States stood at 2.45 million vehicles at the beginning of July 2021. This figure is up from 2.38 million vehicles at the start of June. Though looking at the bigger picture, the used vehicle inventory across the United States was 6% increased from this day in 2020 but 11% below what it was in 2019. For reference last year, 41 million used cars changed hands. That a lot of vehicles
History shows that sports cars will always tend to be in higher demand than SUVs or sedans
Sports cars are deemed as more of a luxury vehicle. To find current values of sports cars, supercars, exotics, and hypercars look at websites like Hagerty.com
The best advice for those who are going to purchase a used sports car right now is to be patient and continue to research multiple outlets like AutoTempist, Bring A Trailer, eBay motors, and other websites.
The used car market is a mix of those looking to make a quick buck and those who want to take advantage of the market. Be proactive in contacting people with used sports cars owners and dealers, do your research before forking over a large amount of money, check sites like vehiclehistory.com, Carfax, and forums for more details.
Using these resources is important. The vehicle might have received serious damage in the past which the seller hid from you. There’s a chance some significant changes have been made to the car.
I highly recommend a pre-purchase inspection even if it’s a certified preowned car.
Employ the services of a certified car inspector or trained mechanic. The mechanic will run internal checks to make sure all systems are sound. A certified appraisal will give you more details, photos, and copies of any documentation. Once this is confirmed, you can go ahead and make the deal.
Ask to see the title, lien release, and any documentation or paperwork, this includes a window sticker and receipts. A signed title and receipt transfer the ownership of the supercar to you. If the seller is reluctant to disclose paperwork, something may be wrong.
Consider these factors thoroughly before completing the purchase of a used car. This can determine if you will enjoy your new car or keep fixing problems regularly.
If you are buying the car from far away, spend the money on a reliable shipping company, and then when the car’s unloaded at home, you can check it out in detail.
I just had this car delivered by Dynamic Auto Movers. I’ve used them multiple times, they are highly recommended.
Here’s the Bottom line:
Because the demand is high, many sports cars sell in just hours, there is limited availability and demand is strong. You must be on the ball to even stand a chance at purchasing a used sports car right now. Patience will get you your dream ride, I just got mine.
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