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Kerry Lutz's--Financial Survival Network

Oct 29, 2021

We’ve been seeing car/chip shortages, and prices that are through the roof…what exactly is happening in the automobile industry? I sit down and chat with Heath, who is with Ultimate Car Negotiators and has an acute awareness of the trends with vehicle production and sales. The shortage right now is as real as it gets, and it’s something that we’ll need to get used to for a while. Tune in to get advice on some of the things you can do to adjust, as well as changes to be aware of in the realm of buying, selling, and repairing cars.

-We’ve discussed cars, car shortages, prices that are through the roof…what is happening?
-Heath is the ultimate car negotiator
-The shortage is as real as it gets—dealerships are emptying as a result of the lack of car production
-Used cars have gone up about 28% in the past year
-Used cars are becoming the only option
-There is a substantial chip shortage going on—perhaps purposely to maximize profits
-It will probably be fifteen months before things return to a more normal circumstance
-Car dealers are antsy to get more vehicles produced
-There is also a shortage of mechanics to work on cars
-A lot of people now are waiting to get what they want
-People are also becoming more flexible in regard to what car they’re willing to buy
-It will become necessary to order what you want, and wait for it to arrive
-Prices of parts have gotten so high that it is a lot harder to extend the lives of older cars
-Every car now is a “hard-to-get” car

Useful Links:
Financial Survival Network
Ultimate Car Negotiators