If you’ve been holding off on buying a new car, your patience might finally pay off.
Industry experts say this summer’s deals might bring buyers some relief.
Supply chain disruptions during the pandemic led to low inventory and high prices.
Now, dealers have the most new cars on lots since 2020.
Online car dealer Edmunds says it’s seeing better discounts this year with numbers more inline with pre-pandemic sales.
According to Autotrader, buyers can expect prices to drop even more as dealers make room for next year’s models in the fall.
“One of the good news items for consumers is that inventory is abundant,” said Autotrader Senior Editor Brian Moody. “Research the incentives in your area because they can vary from ZIP code to ZIP code and make sure that the car that you’re looking for has the discount that you want. And if not, then go find one that does have a discount.”
He added the best deals are likely to be had on sedans and hatchbacks, which tend to sell slower than SUVs and trucks.
If you’ve been curious about an electric vehicle, Autotrader says overall prices on EVs have come down as well. And depending on the model, you might qualify for a federal tax credit.