The fall season brings cold weather, football and car sales. Dealerships tend to offer lots of incentives during this season in order to clear out their inventories for the next crop of new vehicles. Even in light of all of the deals being offered to car buyers, drivers are still willing to spend more on new and used cars than they are actually paying, according to a new survey by Kelley Blue Book.
Those looking for new cars reported that they were willing to spend, on average, about $28,300, and they wound up paying an average of $1,800 less than they intended. Used car owners expected to pay almost $3,100 more than they actually wound up spending. One of the biggest hurdles that shoppers faced was finding the cars they wanted, as 42 percent reported difficulty in this area.
“Consumers seem to know what they want…it is just a matter of finding it in the current marketplace,” said Camryn Craig, a research analyst for Kelley Blue Book’s webiste. “Inventory levels improved in September and are expected to continue improving through the end of the year.”
Fall is an ideal time to shop for a new or used vehicle with a car loan, as drivers may be able to find the car they’ve been eyeing all year for less. This can be especially useful for people who are using car financing, as spending less will mean the monthly car loan payments will be lower.