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High prices, few discounts and low inventory await car shoppers

Daniel Acker | Bloomberg | Getty Images

Car shoppers hoping to cash in on Memorial Day weekend sales events may want to rein in their expectations.

On top of reduced inventory due to a shortage of microchips — key parts needed for today’s autos to operate — and unrelenting consumer demand pushing prices higher, there are fewer incentives being offered by manufacturers and dealers.

The average incentive is $2,957, down from $4,825 in May 2020 and $3,878 in May 2019, according to a new forecast from J.D. Power and LMC Automotive.

“People will be in for a bit of a surprise,” said Ivan Drury, senior manager of insights at Edmunds.com. “There will be little to no negotiation on price.

“We’re seeing more people pay sticker price or above.”

At the start of the pandemic more than a year ago, when dealerships and manufacturing plants were shut down, chipmakers pivoted to

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High Prices, Limited Inventory Expected This Spring

High demand and a manufacturing shortage of semiconductors — microchip technology used for power steering, brakes and other important vehicle operations — have caused new car inventory at dealerships to dwindle, CNBC reports. Buyers turning to used-car lots to find a more affordable option haven’t had much luck, either.



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20 Items You Will Regret Buying This Summer, Adult, Business, Business Finance and Industry, Buying, Car, Car Interior, Car Ownership, Car Salesperson, Charming, Consumerism, Couple – Relationship, Customer, Dashboard, Explaining, Finance and Economy, Gesturing, Global Business, Holiday – Event, Land Vehicle, Married, Mode of Transport, New, Passenger, Passenger Cabin, Persuasion, Professional Occupation, Retail, Sales Clerk, Sales Occupation, Saleswoman, Shopping, Skill, Steering Wheel, Trading, Transportation, Uncertainty, Vehicle Interior, Wealth, car dealership, family, finance, heterosexual couple, horizontal, men, photography, side view, women

See: 25 Ways the Coronavirus Has Upended the Auto Industry Across the Globe

Find: 25 Tips and

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Buy the Car You Loved in High School (Without Losing Your Shirt)

A few decades late, you’ve finally got the cash to buy the car you coveted in high school. You can picture yourself behind the wheel, finally looking really cool. But do you have any idea what you’re getting yourself into?



a man sitting in a car: Here’s how the experts say to make your classic dream car a reality.


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Here’s how the experts say to make your classic dream car a reality.

“I tell people, ‘Cool your heels, you’ve waited this long, find the best one you can,” says John DiPietro, editor for classic car dealer Carroll Street Auto in Manchester, New Hampshire, and former automotive editor at Edmunds.com.

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Nothing about buying your dream car will be easier than buying a new car. For example, most banks usually don’t finance expensive 20-year-old collector cars. You’ll need cash or a really low-interest personal loan. And without special classic car insurance, it’s valued as just another old beater if it gets totaled.

And keep

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US Car Sales Shift Into High Gear In Q1

The car buying craze is on. According to recent reports, consumers are snapping up new vehicles at pre-pandemic levels, as a  massive case of FOMO (fear of missing out) seems to be sweeping the entire commerce landscape.

Auto sales were up 8 percent in Q1, as vaccines continued to circulate and consumer confidence in an eventual return to normal began to tick up, leading to vehicle shortages that have only accelerated the buying binge, according to Bloomberg reports. According to researcher J.D. Power, retail deliveries are forecast to have reached 3.16 million vehicles during Q1, the second-highest total on record.

“There’s a little FOMO going on here, fear of missing out,” said Jeff Schuster, president of the Americas and global vehicle forecasting at researcher LMC Automotive. “Consumers have sacrificed on choice because the color combination or option combination they wanted wasn’t available,

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