Most Americans, regardless of political ideology or party affiliation, would surely admit that this year’s election cycle has been unconventional. Donald Trump, the Republican candidate for the presidency, has flown in the face of much conventional wisdom, while on the Democratic side, a tight contest between Hillary Clinton and Bernie Sanders caught the party at a crossroads. Now, entering into the final stretch of the campaign season, the race for the White House is in a virtual dead heat, with many leading polls finding Clinton and Trump more or less tied. Things are volatile, and the future uncertain—but what does that mean for used car buyers and sellers?
How the Election Impacts Buyers in Orange County and Beyond
Based on our own research in Orange County, Riverside County, and beyond, we have found quite a bit of hesitation among consumers. Nobody knows what the next Presidential administration will look like, and fear that the unorthodox nature of a Trump presidency could send the economy into a tailspin. All this uncertainty has made consumers want to delay any big purchases for the time being—waiting to see exactly how things shake out before they commit too much of their money to something as big as, say, a new automobile.
This hesitation is not hard to understand, especially not with new vehicle prices being so high. As research has confirmed time and time again, the average price point for a new car or a new truck has been increasing steadily for years. Even in an economically certain era, consumers might have a hard time committing the cash they need to purchase a brand new vehicle.
None of this means that consumers can’t get the car they want this election season, though—nor does it mean that dealerships do not have some opportunities that lie before them.
How the Election Impacts Dealerships in Riverside County and Beyond
The ace in the hole that used car deals have is value, plain and simple. A used car—even one with a decent amount of mileage on it—can still have plenty of life left in it, and many used cars are only two to three years old, often fresh out of the leasing or rental cycle. Meanwhile, these vehicles can be obtained quite affordably, often for less than half the initial sticker price.
It’s an ideal way for consumers to get good vehicles for fair prices, and to hedge against economic uncertainty. The key for dealerships is marketing. In fact, Get My Auto recommends that dealerships in the greater Los Angeles area and beyond ramp up their marketing over the coming weeks, and deliver this simple message: Yes, these elections could be volatile. Yes, we live in uncertain times. But no, that doesn’t have to keep you from getting a great new vehicle. Get maximum bang for your buck by seeking out a used vehicle from an Orange County used car dealership today.