Used Car Prices are Soaring

Used Car Prices nationwide are soaring and have caused inventory supply to be scarce. Wholesale auto auctions, where car dealers get their cars have seen used car prices soar this year since we entered 2021.

The average used car price of cars are up and inventory is way down.

With supply being down, prices have been moving up 2% per week according to JD Power Auto Industry reports. That’s about $300 up per week on a $15,000 vehicle.

Why is this happening? The simple answer: Low Supply and High Demand. And it may get worse as the car shortage continues and new car buyers are entering the market to buy.

Used Car Prices
NJStateAuto Used Car Lot in Jersey City, NJ

Ask a Car Dealer today and they will tell you that when they are talking or texting with customers they sense urgency from the buyers.

Car buyers that need a car know they should buy now, because if they see something they like, they may not find it again especially at that used car price. And maybe, getting qualified for auto financing will be harder as prices continue to rise. 

The current inventory shortage is made even worse due to a serious computer chip shortage in the new car industry for past 2 months. Because of the chip shortage, new car production across all brands are down – that means new car dealers have no new cars, which creates even more demand for used cars.

However, it’s a great time to sell a car or get out from under a payment.

Guess What: We Buy Cars too.

RECENT ARTICLES

Bad Credit Car Loans Get Your Life Moving

You need a car, but the last place you checked out said they couldn’t help you with your bad credit. But that is exactly what a bad credit car loan is supposed to do — get you approved even if you have bad credit.

NJ State Auto is here to help you turn your life around. We have the connections needed to get you in a car with a payment plan that fits in with your budget.

Are There Car Dealerships That Work With Bad Credit Near Me?

Bad Credit Car Loans
Bad Credit Car Loans

NJ State Auto does car loans for bad credit, and we are right in your neighborhood, located in Jersey City. We work with banks that specialize in bad credit loans. That means that even if your wages are being garnished, or you have child support payments to make, you can get pre-approved!  It doesn’t take long.  Click onto our site and:

Once you see the car, truck, or SUV that matches your pre-approval, we can complete the deal quickly and easily.

What is Considered Bad Credit?

Not sure if you have good or bad credit? The credit reporting companies like Experian use a credit score numbering from 300 up to 850. If your number is less than 580, you have a poor credit score. That means it can be hard to open a store credit card, get a loan, or even rent an apartment.

Check your credit score for free by clicking here.

Applying for pre-approval on our site will not negatively affect your credit score. Go ahead and find out just how much car you can afford!

Why are Bad Credit Car Loans a Good Choice for Me?

Bad Credit Car Loans in NJ

If you’ve got bad credit, you want to try and improve your score by building a positive credit history. One of the fastest ways to watch your score rise is to pay off an auto loan over a few years, even one based on your poor score. The credit reporting companies consider a car loan in good standing a better indicator of financial responsibility compared to a cell phone plan or credit card.

When you are ready to buy your next car, the banks will look at your old loan history with us and give you positive marks.

Finding the Right Ride Using Bad Credit Car Loans

Bad Credit Car Loans to Start Driving

What kind of car can you find at bad credit car dealerships near me?

At NJ State Auto we carry a huge variety of cars all listed below the Kelly Blue Book Value. Click onto our Used Vehicles page and check out:

Get Your Rating Back on Track at Our Bad Credit Car Dealerships

You work hard to take care of your family! You deserve to get your daily errands done behind the wheel of a great car or SUV. We know that your bad credit does not represent you as a person. Together, we can start to make a positive impact on your life by matching you with a vehicle and bad credit loan.

Now you’ve got the transportation needed to get to work on time, drop the kids off for soccer practice, and take a drive down to the Shore for some fun.

Click, call, or Text NJ State Auto at 201-200-1100 right now and get your loan pre-approval started! We are totally committed to working with you so that you can look forward to a better future.

How Do I Get a Free CARFAX Report?

Free Carfax vehicle history reports
Free Carfax

In the market for a used car? Get a Free Carfax Vehicle History Report on any of our used Cars, Trucks, Vans or SUVs in our car lot in Jersey City, NJ.

If so, then it makes sense to want to know about the vehicle’s history so you can make sure you’re getting what you’re paying for. For instance:

  • How many previous owners did it previously have?
  • Has it been involved in any accidents?
  • Has it been involved in any natural disasters?
  • Did previous owners have any recall repairs performed?
  • Were there any issues with the title?
  • How was the vehicle used?

These are all important questions you’ll want to have answers to before you agree to purchase a used car – and a CARFAX Vehicle History report can provide them. By knowing these details about a prospective used vehicle, you can make a much more educated decision about whether to purchase it and what price to negotiate to. All it takes is running the vehicle’s unique, 17-digit Vehicle Identification Number (VIN) to have this information at your disposal. It’s a free service we’re pleased to offer with every used vehicle on our lot so we can empower you to make smarter buying decisions. Whether you’re looking for a car, truck, SUV, van or even a hybrid/electric, we’re happy to provide you with a CARFAX report. 

What Do CARFAX Reports Include?

Simply put, CARFAX Vehicle History Reports include everything you’ll need to know to make an educated decision about the vehicle that you’re eyeing. Think of it as a resource to help you have peace of mind in your potential purchase. Unlike purchasing a new vehicle, used vehicles have had at least one previous owner. A CARFAX report helps offer a glimpse into how its previous owners operated it, what they used it for, how well they cared for it and if it was involved in any significant accidents. You won’t be able to see any personal details of previous owners due to privacy laws, but you’ll be able to see just about everything else pertaining to the vehicle. Here’s a look at some of the information one of our free CARFAX used cars reports contains:

  • Major accidents
  • Mileage rollbacks
  • Total number of owners and their respective lengths of ownership
  • Structural damage
  • Vehicle use (i.e., lease, personal, taxi, public service, etc.)
  • Repair information and service records
  • An estimate of miles driver per year
  • Safety issues
  • Recall information
  • Warranty information
  • Title and registration information

Peace Of Mind Purchasing

The CARFAX database consists of information on more than 24 billion vehicles. And CARFAX reports are available for any vehicle make, model and year – from Acura to Toyota to Ford. You can rest assured that the VIN number that gets inputted into the system will have all the information you need for your purchasing decision. Normally, a CARFAX report costs $30 per report, but when you work with us, we’ll ensure that you get the report free of charge. It’s part of our value-added service and our commitment to ensuring you’re comfortable with your purchasing decision. We’re happy to provide the necessary resources to enable peace of mind purchasing.

Contact Us For More Information

Whatever the make, model and model year, we make it easy for you to purchase with confidence. It’s because we offer a complimentary CARFAX Vehicle History Report with every vehicle. We also offer CARFAX Safety and Reliability Reports. Contact us today for more information and for your free CARFAX report.

NJStateAuto.com