DENVER (KDVR) — A survey conducted by Cars.com found buyers are willing to drive more than 100 miles across state lines to find the car they want as inventory remains low across the U.S. due to an ongoing car shortage.
Cars.com’s Kelsey Mays said car buyers are willing to go to great lengths to buy a car because the U.S.’s current car shortage has had a big impact inventory at dealerships.
The website surveyed recent car buyers. It found 1 in 3 buyers drove more than 100 miles to purchase their new car and 10 percent said they drove out of state to purchase their vehicle.
“People willing to go to great lengths to find their car. All it takes to a trip to your local auto mall to see why. Both new car and used car supplies are really tight right now,” said Mays.
May’s said there are several factors contributing to the U.S.’s car shortage. Mays said there is a lot of pent up demand because of the COVID-19 pandemic. Also, a microchip shortage is slowing car production and impacting inventory.
While it may be frustrating to buy a car right now, Mays said the silver lining is that car owners are making more money on their trade-ins. Cars.com estimates trade-in value is up 14%.
Mays said people interested in trading in their car should get offers from multiple dealerships to guarantee they are getting the best price for their trade-in. For those who want the most money for their used car, Mays said selling your car on your own is the most lucrative.