Haggling Over the Price of Rust - Page 2
"If you have the habit of trading your vehicles in every 2 to 3 years, then leasing is a good option for you," Mr. Russell said.
In Mr. Russell's opinion, leasing has not been that big of an issue. "It's never been really popular and is only a good option if a person buys new cars every two to three years."
Although he has spent three hours and traveled to three different dealerships to help find a customer the car he wants, he considers that par for the course, not necessarily a shortage of cars. "If you see the car you want, buy it. I can't tell you how many times a person has looked at car and told me they need to think about it, then call me the next day or two and I have to tell them the car is gone."
Is there really a shortage of cars? Bloomberg and Reuters reported a 16% increase in car sales this April from April 2010. However, April was the last non-quake affected month. The full impact of the natural disaster in Japan has yet to hit the U.S. Some of those shortages, for fuel-efficient cars, started to show up in the U.S. in May.
A.T. Kearney, a consulting firm in VA, blames the pace of the economic recovery and is slightly less optimistic than it's predicted sales of 14.4 million units for 2011. The average age of the American vehicle is at an all-time high - 10.4 years. With any luck, by the end of the summer, over 500,000 people may be looking for a new or used car.
Hopefully, the car lots will be ripe for the picking.