Should You Delay Your Purchase?

By

Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

, Senior Pricing Analyst - July 15, 2021

Production delays, limited availability, and high prices have impacted car buyers in an unprecedented way. As a result, consumers be considering whether or not it's worth delaying a purchase. If you're currently a lessee, you may be wondering what to do if your lease is expiring soon. Here are some things worth knowing about.

First, high prices may be unavoidable because of supply & demand but there may be ways to avoid paying a dealer markup. Second, cars with the biggest rebates may offer significant savings, while the best 0% APR deals can make buying a car more affordable. Cheap lease deals can still be found if you know where to look.

It may be hard to believe, but manufacturer incentives are still offering rates as low as 0% APR for 84 months and leases from $159/month. The downside is that fewer models are eligible for these attention-grabbing car deals. Truck incentives are down significantly, with no rebates whatsoever on the Chevy Colorado (below).

If your current lease is ending soon, consider asking your financing company for a lease extension. Doing so could give you the time you need to figure out what car to buy next. For example, Nissan offered customers lease extensions in anticipation of the arrival of the redesigned 2022 Pathfinder SUV just earlier this year.

If you're waiting for rebates to get better, the sad fact is that incentives can be difficult to predict. For example, even though Honda recently released the all-new Civic sedan, deals on the outgoing model aren't particularly good. This type of scenario could give shoppers a good reason to wait if they're in a position to do so.

Waiting for a redesign could get you access to the latest technology. For example, an all-new Toyota Tundra is coming later this year and may involve some form of electrification. Meanwhile, Ford is set to introduce its first-ever EV truck, the F-150 Lightning. We expect 2023 models to go on sale starting sometime in early 2022.

Your dealer may be able to provide you with options like putting down a deposit for the car you want. Due to a chip shortage, some dealers are reportedly even preselling cars before they arrive on the lot. We recommend considering the pros & cons of waiting versus buying now so you can get the best deal possible.

Explore The Latest Car Deals

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

Privacy Policy|Do Not Sell My Personal Information|Terms of Use|Cookie Policy|Disclaimer|
COPYRIGHT 1999-2021 MH Sub I, LLC dba CarsDirect.com