As the global economy grapples with rising inflation and a cost-of-living crisis, consumers are feeling the pinch in various sectors, including the automotive industry. While new-car buyers may be able to find some respite in the form of attractive incentives from automakers, offering lower interest rates and more manageable monthly payments, those in the market for a used vehicle are facing a harsher reality. Unlike their new-car counterparts, used-car buyers are largely left to fend for themselves, with no similar options available to ease the financial burden. This disparity has raised questions about the fairness of the current market and the need for more inclusive solutions to support all car buyers, not just those purchasing brand-new vehicles.
In the midst of this affordability crisis, new-car buyers can get a bit of a break on rates and monthly payments from automaker incentives. Used-car buyers, however, do not have that option.
