One Huge Reason To Consider Buying A Car Now
It was reported the other day that the automobile industry experienced the best sales
numbers in more than two years since the infamous cash for clunkers program was implemented by the U.S. government. There is at least one huge reason to consider buying a car now which could save you thousands of dollars.Why Auto Sales Have Been Slow Until Now
As has been reported, consumers have been keeping their vehicles longer during these past few years of economic uncertainty. Rising gas prices over the past few years also kept buyers on the sidelines until prices leveled off. In addition, more people have credit challenges so qualifying for an auto loan is tougher.
Consumers Resume Buying Sport Utility Vehicles
Several car makers enjoyed sales spikes including Ford whose sales rose 13 percent in November. Ford now has three popular models that each get up to 40 mpg. However, now that gas prices have stabilized under $4 (fingers crossed), many car buyers have opted to purchase SUVs and other trucks. Ford's SUV sales climbed 29% and their F Series pickup truck sales rose 24%. These consumers are hoping that gas prices remain stable for the next few years.
How Much Money Will We Save At The Fuel Pump?
Our research has shown that the government is forcing higher fuel efficiency standards onto car makers. The improved standards are projected to save drivers more than $1.7 trillion at the gas pump, or about $8,000 per vehicle, by 2025. In addition, the country's dependence on oil will drop by 12 billion barrels and by 2025 reduce consumption of oil by 2.2 million barrels a day. This alone would offset about 25% of the United States' current level of foreign oil imports.
One Huge Reason To Consider Buying A Car Now
While better fuel economy is good for the environment and for the long-term sustainability of our fuel resources, there is a cost to consider. The technology required to make new vehicles more fuel efficient ain't cheap. Some auto industry experts predict that sticker prices on new cars will jump as much as $10,000 to cover the additional costs of higher fuel efficiency. To save money, now may be the best time for you to purchase a new car that gets 30 to 40 mpg and will last a long time (as long as you take good care of the car).
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