Why Hurricane Harvey will cost 2017 Labor Day car sales
The devastation of winds and flooding will wreck not only the Texas dealerships trying to get ready for the last big holiday car sales event for remaining 2017 inventory but could effect used car, truck and suv prices into 2019. Automobile manufacturers will be busy ramping up 2018 production, (as best they can) to replace the vehicles lost on dealer lots.
Dealers in surrounding states may see a bump in business this holiday weekend, as smart shoppers make their decisions now, rather than waiting til year end.
Haggling, rebates and incentives, along with the art of negotiation, may come to a screeching halt.
Shopping for a 4wd truck or SUV this weekend, BUY IT NOW.
Regardless of where you live in the USA, get your used 4wd vehicle NOW. Grab the remaining rebates, incentives and *FREE DMV registration while you can.
Once the waters recede in Texas, thousands of vehicles will be lost to the flood of the century.
The cause and effect will be an immediate jump in prices on all USED four wheel drive (4×4) truck and SUV market across the country.
The demand for 4WD in Texas is almost as big a religion as high school football. Used AWD suv’s and cars will also be in high demand.
Expect USED CAR PRICES to RISE 15% to 20% in the next 6 mos.
Wholesalers and buyers will be raising their hands high at auctions on the west coast, where dry, desert vehicles are already in high demand.
Cheaper sedans, those with high miles and under $10,000.00 price tags will also take a spike of 10% to 20%, as many home owners hit hard by Harvey, have no flood insurance, creating a strain on cash flow and auto loan borrowing.
However, the biggest impact will be on the used 4wd truck market, already at top price this summer.
With hunting and snow season just a few months away, supply will not keep up with demand for 4wd vehicles of all types and prices are sure to increase.
Add a minimum $500.00 to every car and truck shipped into TEXAS, just to fill empty lots.
BEWARE of SALVAGED FLOOD CARS flooding the market.
The next issue to have a direct cause and effect of Hurricane Harvey will be flood vehicles totaled as a loss, being resold with “washed” titles, to unknowing car buyers in other parts of the country.
Anyone with a blow-dryer will be trying to make a buck, reselling these JUNKED cars for pennies on the dollar.
In 60-90 days, these salvaged, totaled loss vehicles will start showing up, priced cheap and with fake titles.
Craig’s List shoppers beware, if the price is too good to be true or lower than average market value, get an inspection for electrical damage and water marks.
Add these crisis issues to the latest recalls on Ford, Honda and now Volkswagen vehicles, the adage “BUYER BEWARE” has never been more true.
Sarah Lee Marks is MyCarlady. She has over 27+ years of experience.
She writes about cars, and is a staunch consumer advocate on car related subjects.
MyCarlady offers free car buying advice, and private, auto-related services to help you maintain your personal or commercial vehicles.
Contact Sarah Lee for more information: sarahlee at mycarlady.com Join the MyCarlady newsletter to be kept up-to-date on this and other important car information.
For information on FREE DMV Registration contact Sarahlee at Mycarlady dot com.