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When we visited this California Toyota dealership a year ago, this van was the only new car they had, and someone had just bought it.
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Today Keith Hernandez has a few more cars on the lot, and the good news for anyone in the market for a new ride is that price is nationwide while up from a year ago are cooling.
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Down an average 574 dollars from their peak in July. But at Hernandez's dealership, the best buys are across the street.
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Why do you have so many used cars right now? - So great question, mainly for those that don't want to wait the 6 to 10 12 months.
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New cars are still so scarce, there's a waiting list, and dealership profits off each vehicle have soared since before the pandemic.
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What we're finding is we can sell few cars less per month, but make twice, three times as much.
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But these used cars cost the dealers money, and they are eager to get that money back, the increase in inventory is giving buyers some opportunity.
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But we're not talking about you know 2017 2018 conditions in which cars are plentiful and discounts are everywhere.
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So how do you get ahead of the pack⁽¹⁾? find out what your current car is worth, some used cars are actually increasing in value.
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Lock in your loan rate before the FED drives it higher, and make a realistic budget that includes repairs, fuel costs, and inflation.
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And remember, because used cars are so hard to come by, the one you own makes you irresistible.
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"It's a dealership, that kind of customer that comes in with the trade-in today is twice as valuable." - Jake Ward, NBC News, Walnut Creek California.