For several years, the used car market has been booming. Today’s market is even more focused on buying used vehicles, for various reasons.

We tell you why in this blog.

The New Vehicles Shortage

My neighbour is a commercial vehicle manager at a well-known car dealership. While chatting with him last week, he told me that he was selling cars, but he didn’t have them in stock! 

Since the health crisis, automakers have been struggling to meet the demand for new vehicles. Of course, there has been a shortage of microchips in 2020 and 2021, which has significantly reduced the supply of the vehicle fleet at the manufacturers, but there has also been an increase in the price of new vehicles in stock.

On the one hand, there is a shortage of parts to bring new vehicles to market, on the other hand, it is difficult to meet the demand. Conclusion: we turn to the used car market. 

The Used Car Market

As soon as the health crisis hit us hard, the used car market exploded and people quickly turned to buying used cars.

The North American shortage we experienced in 2020 and 2021 has increased the demand for used cars and trucks.

In addition, despite the increase in prices for used vehicles, it is easier to get a used vehicle than a new one. Therefore, if you decide to change your vehicle, the used car market remains a fast and safe way to go.

In fact, most used car dealerships have good inventories of used cars, SUVs and trucks for sale. Many also provide you with a complete vehicle history:

• The car’s maintenance record

• The RDPRM (Register of Personal and Movable Real Rights)

• The SAAQ file

• The history report

• The dealer’s profile

In short, the used car market continues to grow since the health crisis. In 2021, there were 3.3 used vehicles sold for every new vehicle, a clear upward trend from 2018 (2.6).

Why Buy a Used Vehicle?

Despite rising prices, it will still cost you less to buy a used car than a new vehicle in 2022. There are five reasons:

1. With the purchase of a used vehicle, you will not have to go through the depreciation scenario. You’ll have peace of mind and you’ll have saved money when you bought the vehicle. Also, when you decide to sell the car, you will lose less money. It’s a good deal!

2. As your insurance broker will tell you, insurance plans are much more affordable for used vehicles than for new ones. The reason for this is simple: comprehensive coverage is not mandatory for a used vehicle, whereas it is mandatory for a new vehicle.

3. You want a higher-end model with cutting-edge technology, but your wallet won’t allow it. Buying a used vehicle will allow you to spoil yourself a little more, since there is a good price difference on the used car market. 

4. Peace of mind. For a long time, we were told that a used car would not last very long. In recent years, car manufacturers have improved the quality of their vehicles. They are now more reliable and their longevity has increased. An 8-year-old car with 150,000 km is considered a reliable car that will last for many years. 

5. Replacement parts on a used car are easier to find on the market, which usually translates into more affordable repair costs. It is important to know this, even though it is possible for you to purchase a warranty on the maintenance and repair of a used vehicle.

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Used Cars in Mirabel

On the North Shore of Montreal in Mirabel, a few minutes from Laval, AutoStudio 72 offers you the used vehicle you need. Its vast experience in the field, its diversified selection of used cars, SUVs and trucks and its exemplary service make AutoStudio 72 a sure bet in the market. AutoStudio 72, the good used car deal!