If you have been looking for a car and have a strict budget, you’ve probably had a hard time finding a good selection of vehicles. This is because, at the moment, cheap cars for sale aren’t easy to locate. Let’s take a moment to examine why the prices of used vehicles — like many other things in life these days — remain high.
It’s All About Supply and Demand
The most basic lesson about economics – supply and demand – can be applied to the auto industry right now. Thanks to the continuing shortage of vital computer chips, not as many new vehicles have been able to be made. This means that the people planning to buy a new car now had to buy a pre-owned one, which depleted inventories. And because demand is high and supply is low, the cost of those older cars has risen sharply.
No More Junkers
Another reason why it’s difficult finding cheaper cars is that vehicles are better made these days. They are built to be durable and longer-lasting.
As a result, owners keep their cars longer, which leaves dealerships with fewer models to sell. Furthermore, those vehicles retain their value for much longer, keeping prices higher. And because dealerships generally try to keep the best cars on hand, finding a beat-up old car for a couple of thousand dollars isn’t realistic.
Less-Expensive Cars are Available!
However, it’s not all gloom and doom if you’re looking for an affordable vehicle. At Keyes Hyundai in Van Nuys, we have a bargain inventory of quality used and Hyundai Certified Pre-Owned vehicles at great prices. Visit us to check out all of the cars in stock.
