Allison Pohle

speaker

908 appearances 18 recordings 1 series first heard Apr 2021 last heard Dec 2024

Allison Pohle’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Buying a Car? These Tips Will Help You Be a Smart Shopper. · 19 Jul 2021 podcast

I spoke to an expert who said everything you thought you knew about car buying from last year or whenever you last were in the market has changed. voice-verified

When people walk onto a car dealership, they'll see lower inventories and higher prices. voice-verified

That's because some of the components for cars, most notably the chips, are in a shortage at the moment. voice-verified

That means manufacturers can't produce as many new cars and that's driven consumers to the secondhand market where they're looking for used cars. voice-verified

Prices have increased for both new and used cars. voice-verified

Last month, for example, the average transaction price for a new car was about $40,000, which is an increase of 14% from a year ago. voice-verified

And that's according to the research firm JD Power. voice-verified

Now for used cars, the average price was about $28,000, which is up 24% from June 2020. voice-verified

So in this current environment, you won't find the same types of deals that you might have found in the past. voice-verified

I spoke to one consumer who lives in Huntsville, Alabama, and he was searching for a pickup truck. voice-verified

This is someone who had never bought a new vehicle before. voice-verified

So he went out looking for used vehicles and found that his selection was pretty limited. voice-verified

A lot of the vehicles that were available were expensive. voice-verified

and had many miles on them. voice-verified

So he called around to seven dealerships in his area and ended up ordering a truck directly from the dealer and he was able to pay less than $50,000 for that purchase where some of the used trucks that he was looking for cost $80,000. voice-verified

I also spoke to a consumer in Orlando, Florida, and she has her heart set on a very specific type of vehicle. voice-verified

She is looking for a Honda Civic Hatchback EX in white. voice-verified

And she has looked at used Civic models, but they're similar in price to the vehicle that she's looking for and also have thousands of miles on them. voice-verified

her problem is that she's called around to multiple dealers and has not yet been able to get anyone to negotiate on the price and she said that is because it's the dealer's market at this point so she's been watching youtube videos for tips and has also hired an auto consultant to help her as she looks at all of her options so are buyers going to have to be flexible when it comes to what they're looking for either in terms of the age of the car or the size of the vehicle voice-verified

Yeah, a lot of people do want those larger cars, but if you only need to use it once or twice a year, you might consider a sedan instead. voice-verified

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