Quote:
Originally Posted by Chef-j
Im sure it will go more than a year or maybe we will never go back to normal. New car shortage now but after 2 or 3 years, there wont be enough used. Maybe lease now might be better deal than financing.
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As soon as supply catches up to demand, the prices will come back down, it is mostly the chip shortage holding supply back. Once you have at least 6 months of production with no hiccups, things will begin to normalize. Also, there will be a huge shift happening this summer that will affect all businesses. With federal assistance expiring for most this summer, there is going to be a whole lot less cash available to make car payments, repos are going to shoot up and the market will become flooded with used cars again. That should slowly drive vehicle values down so long as new vehicle production continues as it once did prior to the pandemic.