To literally no one’s surprise, car dealerships still know exactly how to make big profit on the cars that they sell. These dealerships are not run by a bunch of dummies. Especially since COVID hit our shores. They have had to adapt and overcome just about every new problem that you can think of (other than a lack of demand). Most of their little tricks are old school, tried and true. They have definitely added a few more to the repertoire recently.
For the first time now in a long time, slowing demand and increasing interest rates has begun to finally create lower prices. In August alone, used car prices dropped by 4%. Let’s see how long these tricks and market adjustments last once the supply comes back and consumers slow down their buying habits.
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