Is Now a Good Time to Buy a Car?

Man Giving Thumbs Up Holding Keys In Car


It’s no secret that currently the automotive industry is suffering a chip shortage, and it’s got a lot of people wondering if it’s a good time to buy a car. From the limited creation of new models to the sky high demand for used cars, it’s got people everywhere looking at the market and wondering if now is the right time to upgrade. The team at Lum's GMC is here to help make it easier and take some of the pressure off if you’re questioning “Is now a good time to buy a new car” or “Is now even a good time to buy a used car in Salem?” Learn more below and feel free to ask us more questions.



Should You Buy a Car Now or Wait Until Later?

Is now a good time to buy a new car, considering the higher sticker prices? Yes! Why? Because while car prices have gone up, so have trade-in values. That means you can expect to get much more for your trade-in. According to Kelley Blue Book, “there has never been a much better time to sell or trade-in your car than right now during this strong seller’s market.” When you combine a high trade-in offer with our new vehicle specials, it can be smart to buy a car now for your Newberg commute.

Is Now a Good Time to Buy a Used Car?

Is the situation any different for pre-owned cars? Is now a good time to buy a car if it’s used? Since new car supply is short of demand, many drivers have chosen to buy used, increasing demand and, therefore, prices to go up on used cars as well. But now can still be a good time to buy a used car, for the reasons we listed above for buying a new car. Trade-in offers are the same whether the car is being traded for a new or used vehicle. You can also take advantage of our used car specials.

Find Your New or Used Model Today at Lum's GMC

No one has a crystal ball that can predict when it is now a good time to buy a new car, as we have no idea when prices will go up or down. But what we can do is help Hillsboro drivers to find the right model for them. Our finance department will work with you to get you on the road in the car that works for your budget.


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Lum's GMC 45.22397, -123.19023.