The last two years have made an impact on the way we live. Masks are a normal part of grocery shopping, “social distancing” is part of our everyday vocabulary, and exploring used cars isn’t as easy as it used to be. Shoppers have to unlearn pretty much everything they know about car shopping. Buying new or buying used? Which one should you choose?

The supply of both new and used cars has dipped to unprecedented lows. At the same time, the high demand for those vehicles has caused prices to soar. We can mostly point the finger at the semiconductor computer chip shortage that practically put a stop to vehicle production.

With the entire automotive industry being almost upside down, drivers are no longer sure if they should be shopping for new or used cars to get the best value for their money.

Buying New

While automotive production lines hit some major delays, there are new models being delivered to showrooms across the country. You should absolutely expect to pay the sticker price or slightly higher. If you won’t, someone else will, and you’ll lose the sale.

Buying new does have some drawbacks. For example, you’ll have a hard time finding exact options, trims, and colors that are used to fill dealerships. The more rigid you are in what you’ll drive, the harder time you’ll have finding your model of choice. If you do find it, expect to pay top dollar.

Shopping for new cars is still your best bet for getting the most up-to-date technology, safety systems, manufacturer warranties, and more. If you’re willing to go with less popular brands and models, you have more success on your shopping trip.

Leasing Your Next Car

Leasing is still an option, but you’ll have some of the same issues finding a specific build that you’ll have with a new car purchase. Leasing has always been a great option for drivers who are good at managing their monthly bills and aren’t interested in owning a vehicle outright. You can often get lower monthly payments.

Leasing is also a great way to take a step away from the crazy vehicle market we’re seeing today. If you don’t want to deal with insane markups and high competition for different cars, a lease might be a good way to get some breathing room.

Of course, leasing means that you’re essentially renting a car instead of paying it off. That may not be the most efficient use of your money. For some, however, leasing is still a great way to keep up with new technology without breaking the bank.

Shopping For Pre-Owned Cars

It used to be that exploring used cars was the single best way to get a great deal. Those days are over as used car prices have gone up an average of 30% since the pandemic began. In some cases, lightly used or certified pre-owned cars have prices similar to their brand-new counterparts.

Getting a good deal on a used car means considering older models. Even cars built close to a decade ago have some pretty modern tech like touchscreen infotainment centers, driver-assist features, and more. It’s critical that you do your homework to ensure that you are getting a decent used car and not driving away in a lemon.

Finding Your Best Deal Whether Buying New or Used

Determining if it’s better to buy a new or used car is a tough call. It ultimately comes down to what you’re looking for, what’s available, and how flexible you are. It’s worth looking at all of your options before you make a decision. It’s also prudent to be flexible with your next purchase. The more specific your needs, the harder it is going to be to fulfill your wish list. If you’re flexible, however, navigating this crazy market doesn’t have to be a complete headache.