1772 Island Hwy, Victoria, BC, V9B 1H8, Canada
Dealership hours of operation
Mon - Thu 9:00 AM - 7:00 PM
Fri - Sat 9:00 AM - 6:00 PM
Sun 10:00 AM - 4:00 PM
Dealership hours of operation
Mon - Thu 9:00 AM - 7:00 PM
Fri - Sat 9:00 AM - 6:00 PM
Sun 10:00 AM - 4:00 PM

Buying a New or Used Car in 2022: Everything you need to know

Buying a New or Used Car in 2022: Everything you need to know

If you are one of the Canadians that have been trying to buy a car in the past year, you will have come up against the two knock-out punches that have been levelled at the motor industry over the past couple of years; Covid and the knock-on problems of chip manufacturer that has brought new car production processes to its knees.

 

These two blows have resulted in a severe shortage of new cars and a dramatic rise in the price of used vehicles.

 

This complicates the question of buying a new vs used car. The prices are very close together, and in many cases, used vehicles are more expensive than their contemporary counterparts due to the shortage of new vehicles.

 

New Cars

New-Cars

 

Buying a new car in Victoria is the dream of many drivers but is it the best option for you? 

 

New cars have a definite allure, but you may have a limited choice in the current market as the new vehicles produced have to be shared amongst many dealers. Chip producers concentrate their production on the popular types of vehicles such as SUVs and trucks. So, if you are in the market for anything else and are determined to buy a new car, you may have to take a vehicle offered to you instead of choosing precisely what you want.

 

Used Cars

Used-Cars

 

Buying used cars in Victoria, especially if you target the “almost new” market, will always be a good choice. By “almost new,” we mean a car that has a title and is, at the most, a year old. These vehicles represent fantastic value for money and still have most of the dealer’s warranties and maintenance plans in place but have lost the new car price.

 

As with all purchases, it is wise to do your homework and look carefully at the brands and models you intend to target. Some models benefit from the current turmoil in the car market, and used examples exceed the MSRP of new models due to the shortages. Steer clear of these vehicles, as you will never be able to recoup the excess you have paid.

 

Final Thoughts

Final-Thoughts

 

Work with a reputable dealer specializing in the brand you intend to buy. They will be able to plumb the other dealers carrying that brand and locate a vehicle that fits your requirements. 

 

Buying a new vs used car is a personal decision, made more difficult by the current market conditions. Economists predict that the market will begin returning to normality in 2023, so waiting a while may not be the worst decision you make. Used cars will always be a sound investment, so buying used now with a view to reviewing this in 12 to 18 months would also be a good choice.

 

We invite you to come in and discuss the options available to you.

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