\u201cUntil the manufacturers can create enough inventory to even out the used car inventory, it will just keep getting worse,\u201d Stuart Kramer said. Around October and November of last year he noticed a drastic change in his market and interest rates began climbing. New cars are becoming more available. However, due to chip shortages, it\u2019s mostly only base models. The new cars don\u2019t seem to have the same quality as they did three years ago because manufacturers are having to skip steps. To give an example, he said a truck of new vehicles were delivered to the lot with buttons for heated seats but the heating element in the seats was missing.<\/p>\n\n\n\n
\u201cThe quality of even the raw materials has gone down,\u201d Scott Zaff said. He said customers are seemingly putting more value into used cars with low miles, but banks are responding with high interest rates, making it a tough sell. He said that currently, working hours have increased. \u201cWe don\u2019t have days off anymore. We work open to close, every day. We open at 9 in the morning and don\u2019t get off until we close, but deals are still working then. Customers will come in at 8:45 at night wanting to buy. Monday through Saturday. I can\u2019t remember the last time I didn\u2019t get off before at least 10.\u201d He seemed exhausted. \u201cThe money isn\u2019t what it used to be, the bonuses aren\u2019t achievable, people come and go so fast I don\u2019t know who is who anymore.\u201d He went on to detail accounts of recent employee firings and the anger of those who recently started feel. \u201cThey come in wanting to get paid. We don\u2019t get paid hourly, it\u2019s all commission. You come here off the streets ready to put in some hard hours? You won\u2019t get paid. The structure of the deals has changed, commission has changed, inventory and sales are gone. We had a meeting last week with a higher-up from Ford and got our first shipment of new vehicles in three months. Used cars? The problem with me is new cars. It\u2019s all the same, if one doesn\u2019t work they all don\u2019t work.\u201d<\/p>\n\n\n\n
Stuart Kramer found himself with similar problems. \u201cThe hope is that the manufacturers are going to be able to build enough inventory to where buyers will have new vehicles available in order to level out the market,\u201d he said. \u201cThe way it works is that the interest rates for cars now are only guaranteed for 15 days. If I quote a loan, sometimes the numbers change after 5 days. That\u2019s all some of the banks give us now. Customers come back after talking to their families or whatever and make a decision. And yeah, they\u2019re expecting the same deal we had. That\u2019s gone. Everyone starts over. You know what that\u2019s like? If one of my salesmen doesn\u2019t submit paperwork the day a deal is done, the bank might reject it while the customer is driving around in their new car. I pay for that. We pay for that. That\u2019s out of our pocket. The used car market might not level out until the end of the year or early next year. Dealerships are still depleted of a new car inventory, leading to the problems we have today.\u201d<\/p>\n\n\n\n
While the used car market seems to slowly be on the uptick as new vehicles are beginning to get delivered, this isn\u2019t the good news many have been waiting for. Experts in the field are beginning to see a change but it won\u2019t come to all until the effects of the pandemic are sorted and the economy settles.<\/p>\n\n\n\n Trying to buy a used car in recent memory has been a nightmare. Problems began to arise during the pandemic. A mix between microchip shortages, supply chain mishaps and manufacturing woes, the used car market seemed like a good place to turn. As demand grew, prices soared, however. <\/p>\n","protected":false},"author":154,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[7381],"tags":[],"class_list":["post-7431","post","type-post","status-publish","format-standard","hentry","category-archives","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/posts\/7431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/users\/154"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/comments?post=7431"}],"version-history":[{"count":1,"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/posts\/7431\/revisions"}],"predecessor-version":[{"id":8095,"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/posts\/7431\/revisions\/8095"}],"wp:attachment":[{"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/media?parent=7431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/categories?post=7431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.umpi.edu\/utimes\/wp-json\/wp\/v2\/tags?post=7431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/wp.umpi.edu\/utimes\/wp-content\/uploads\/sites\/27\/2023\/03\/Hope-arises-as-vehicle-inventory-slowly-begins-to-build-2-1024x768.jpg\")
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