Industry watchers say that the market for used cars in New York could see an upswing again, as buyers who chose to wait out the Cash for Clunkers program may now be looking to affordable pre-owned models.
Those who did will benefit from better pricing, since “oftentimes people buy cars and don’t know the difference between a good deal and a bad deal,” Jeremy Anwyl, Edmunds.com CEO, told the Chiacgo Tribune.
Buyers who didn’t wait to trade-in used cars in New York may have lost the chance to pick up less expensive vehicles because demand drove prices up during the Cash for Clunkers program, analysts told the newspaper.
The decrease in the number of new car purchases has been seen in some little-used metrics, including the revenues towns have generated from vehicle registrations.
In New Hampshire, some towns are facing shortfalls of hundreds of thousands of dollars because buyers are choosing not to purchase new vehicles, either waiting to trade-in or purchasing pre-owned cars instead, reports the Eagle-Tribune.