Do I buy out my lease, or perhaps extend my lease?
Summer has always been a slow time for the automotive industry. This summer
was no different. Consumers have become very “wary” and hesitant about the
next car buying decision. Do I buy out my lease, or perhaps extend my lease? I
want to wait until the end of the year, there will surely be sales, right? Maybe I
should look at a used car? What is your opinion of the electric car market? These
are just some of the many questions presented to me at Automotive Solutions.
I always answer these questions by asking a few probing questions of my own,
because it’s not a 1-word answer or 3-minute conversation. There are too many
variables to consider when looking at your next car. Why? Because for years
consumers would simply rollover into a new lease, or new car, without regard to
price. Car prices did not change much, interest rates were consistent and low, and
it became habitual to land that new car. Not anymore.
Pricing is now close to list price or greater, interest rates are higher than they
have ever been, inventory is still a major problem, especially with the current
strike announced against the 3 major US auto makers, dealerships are under
immense pressure to make money, and the selection of most electric vehicles has
become complicated with possible pullback of Federal tax credits, depending on
the brand of choice.
Your advantage in speaking with me is that I have experience answering most, if
not all, of your questions. In the event I am unable to answer a question, I know
where to go to find the answer. My opinion is that, for the foreseeable future, the
consumer will need a trusted ally on their side to help navigate the very bumpy
road ahead when buying their next car. Which is why I am here - not to only save
you money but also to assist in you time management for what used to be a fun
experience, car shopping.