The Real Deal: Are you in the market for a new car? Now may be the time to start shopping.
Many of us have held out buying a new car because of sticker shock, News 12's consumer reporter Janice Lieberman gives us The Real Deal on what's happening at car showrooms.
Industry experts expect prices to drop slightly in 2023.
"I think we're definitely going to see more cars. I think we're seeing a light at the end of the tunnel. Manufacturers are starting to be able to overcome the chip shortage, produce more cars and turn them. You'll see more cars on the dealer's lots and some great choices for the consumer," says Robert Sabbagh, of Bay Ridge Honda.
Like many dealers across the U.S., inventory has been limited for Honda. "There was a time where we had probably 1,000 Hondas in stock, and now we're lucky we have 10% of that," he says.
But with dealers filling their lots with vehicles, will you be paying more or less for the wheels you want in 2023?
"I think you can see the prices come down. I think you're starting to see some more competitive financing options that we as the dealers can provide. I certainly think that while the consumer might have to make occasional exceptions, I think their choices will be substantially more than they were certainly from 21 and definitely from 22," Sabbagh says.
Like any big purchase, consumers should do their research before making a deal. If you have a hot trade in, some dealers are still paying high prices for certain cars.
If you have a story idea, question or tip, click here to reach out to Janice.