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Dealers are facing a massive inventory shortage as a result of the global chip shortage. This has been estimated to last well into 2022/2023. Customers must adjust their car acquisition process, which is detailed below.
High-volume dealers that used to have 200 vehicles in stock are now 8-10. On-ground stock are being heavily marked up, following the basic laws of supply and demand. Luckily, there are ways to get a discount, but this requires for customers to change their purchasing approach.
- Is there a way around these mark-ups? Yes, by placing an order and waiting!
The downside? It can take between 4-12 weeks for a car to arrive. The benefit of ordering a car is not just in the discount but it gives the customers the ability to build a car to their exact specification. Customers no longer have to settle for unwanted or lacking features.
- If you have an expiring lease, and you don’t plan on buying out the vehicle, then be sure to plan ahead and order a vehicle in advance, so you’re not stuck paying thousands of dollars above MSRP. As they say, immediate gratification can be costly.
For cars purchased/leased through LeaseCompanion, we guarantee 100% transparent and upfront pricing providing every detail of your purchase BEFORE you make any commitment — all without leaving your home or visiting one of our network dealerships.