If you’re shopping for a new or used car in today’s overheated market, you’ll find that the game has changed. A variety of conditions have seemingly given sellers the upper hand.
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“Skimpy inventories and sky-high prices have caused many buyers to postpone their purchases,” says Michelle Krebs, executive analyst for Cox Automotive, a leading communication, media and automotive service company.
Postponing your purchase until the market stabilizes is the best option. But if you have to buy a car now, make sure you avoid these five common mistakes:
1. Being unprepared
This is a new car-buying environment and you may need to reset expectations. Here are the significant adjustments to be aware of before you can snag a car:
Pricing. Most buyers are paying sticker price or above, and “there is no end in sight for price increases,” says Ivan Drury, senior manager of insights for