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Dealership hours of operation
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Dealership hours of operation
Mon - Thu 8:30 AM - 8:00 PM
Fri - Sat 8:30 AM - 6:00 PM
Sun 10:00 AM - 4:00 PM
Dealership hours of operation
Mon - Sat 8:00 AM - 5:00 PM
Sun Closed

Buying a New or Used Car in 2022: Everything you need to know

Buying a New or Used Car in 2022: Everything you need to know

The shortage in microchips has had a significant impact on new and used vehicle sales. Manufacturers of new vehicles have been forced to limit (or completely stop) their production lines. Experts foresee that the vehicle chip supply chain shortages will only begin to change for the better in 2023. As a result, the sales of pre-owned vehicles have increased significantly in 2022. We look at how buyers are affected and why you should purchase a used vehicle.

 

What Does This Mean for Buyers

What Does This Mean for Buyers

 

Due to the microchip supply chain shortage, the demand versus supply is much greater. New vehicle prices remain high, and buyers have less negotiation power due to new car shortages. Vehicle dealerships are making record profits with higher retail prices, despite fewer new vehicles. 

 

Some new car Nanaimo manufacturers have started selling incomplete products advising buyers that they’ll receive the chip upgrades at a later stage. The result is that buyers are now looking at purchasing pre-owned vehicles which are readily available, of high quality, and complete with chips.

 

Why You Should Purchase a Pre-owned Vehicle?

Why You Should Purchase a Pre-owned Vehicle

 

The million dollar question: Should you purchase a new vs. used car? Considering the Kelley Blue Book data, new vehicle buyers can expect to pay (and are paying) well over the recommended MSRP until the microchip crisis improves. There are two alternatives today when buying a new vehicle: an incomplete product or a cheap used car. In both cases, the choices are limited, and you’ll more than likely end up with a vehicle that you’re not 100% happy with. 

 

More Choices and Value for Money

 

The best thing about buying a used car, SUV, or truck is that you’ll have a massive selection of choices to suit your budget. Used vehicles have gone through considerable depreciation. So you’ll get more for your money, and you won’t have to sell the farm to get the wheels of your choice. You can get the best safety features and technology as well. Your pre-owned car or SUV will also hold its value for longer since it’s already undergone a significant depreciation.

 

History, Quality, Certified, and Negotiation

History, Quality, Certified, and Negotiation

 

When you buy a used vehicle in Nanaimo, you get a 100% no-nonsense warranty from the dealership. The dealership is bound by law (and its reputation) to sell you the best quality vehicle. 

 

Dealerships must put all their used vehicles through in-depth mechanical checks, and all defective parts need to be refurbished or replaced with manufacturer-certified parts. The dealership must also disclose the vehicle’s complete history. 

 

Lastly, once you’ve found your perfect second-hand vehicle, there’s always room for negotiation with the dealership. Contact a used cars Nanaimo dealership to view their pre-owned vehicle inventory and arrange a test drive today!

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