{"id":38994,"date":"2022-04-19T09:15:45","date_gmt":"2022-04-19T09:15:45","guid":{"rendered":" https:\/\/dev.way.com\/blog\/?p=38994"},"modified":"2022-06-24T09:06:58","modified_gmt":"2022-06-24T09:06:58","slug":"car-prices-2022","status":"publish","type":"post","link":"https:\/\/dev.way.com\/journal\/car-prices-2022\/","title":{"rendered":"Will the Prices of New Cars Come Down in 2022?"},"content":{"rendered":"<p style=\"text-align: center;\"><em>If you&#8217;re in the market for a new car, you&#8217;re in for an unpleasant surprise. The car prices in 2022 have gone through the roof. Will car prices ever come down in 2022?<\/em><\/p>\n<p><span data-preserver-spaces=\"true\">Since the COVID-19 pandemic began, prices for new cars have hit an all-time high. The average car cost 41% more in November 2021 than before the pandemic. Fortunately, car prices are expected to return to normal this year, and throughout 2022, the situation will progressively improve.<\/span><\/p>\n<p><a href=\"https:\/\/www.way.com\/way-plus\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37765 size-full\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/03\/WAY-PLUS.png\" alt=\"WAY PLUS\" width=\"794\" height=\"294\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/WAY-PLUS.png 794w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/WAY-PLUS-300x111.png 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/WAY-PLUS-768x284.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><\/a><\/p>\n<p><span data-preserver-spaces=\"true\">The impacts of the COVID-19 pandemic, which included manufacturing issues, supply chain interruptions, and labor shortages, have altered the car-buying experience, as they have most everything else today. And it is unquestionably for the worse. <\/span><span data-preserver-spaces=\"true\">Price haggling, for example, was always an option for the astute shopper before the pandemic. Buyers are now fortunate if they can discover the vehicle they desire without having to place an order with a dealer or factory and wait months for it to arrive.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The vast majority of new cars arriving at dealers have already been sold, to make matters worse. It&#8217;s about as tough to find an unsold one as it is to find a four-leaf clover in a field of daisies.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/media4.giphy.com\/media\/QWd0DkjWZrH3bxW1c9\/giphy.gif?cid=ecf05e47zhf0z8sd1espzo4laie5e49d92iqejmnc64qbdn5&amp;rid=giphy.gif&amp;ct=g\" alt=\"The Simpsons Animation GIF by FOX TV\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/giphy.com\/gifs\/foxtv-the-simpsons-fox-tv-QWd0DkjWZrH3bxW1c9\">via GIPHY<\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #e71346;color:#e71346\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #e71346;color:#e71346\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/dev.way.com\/journal\/car-prices-2022\/#Why_are_the_Prices_of_New_Cars_High_in_2022\" >Why are the Prices of New Cars High in 2022?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/dev.way.com\/journal\/car-prices-2022\/#Timeline_of_Prices_going_down_for_New_Cars\" >Timeline of Prices going down for New Cars<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/dev.way.com\/journal\/car-prices-2022\/#Tips_on_Buying_a_New_Car_in_2022\" >Tips on Buying a New Car in 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/dev.way.com\/journal\/car-prices-2022\/#Bottomline\" >Bottomline<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why_are_the_Prices_of_New_Cars_High_in_2022\"><\/span><span data-preserver-spaces=\"true\">Why are the Prices of New Cars High in 2022?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Prices of new cars have continued to rise since the pandemic hit the United States about two years ago. The current car market is the result of several factors. Early in the epidemic, factory closures were expected, as was the continuous development of COVID, which impacted workers and hindered assembly lines.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Then there&#8217;s the persistent shortage of computer chips. As a result, new car prices have reached new highs. <\/span><span data-preserver-spaces=\"true\">When you go to a new car lot, the prices are astounding. Since 1946, this has been the worst time to buy a car. Fortunately, the chip scarcity is gradually improving, and car costs are likely to return to normalcy shortly, ideally by the end of 2022 or early in 2023.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-39000 size-large\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-1024x683.jpg\" alt=\"Prices of New Cars High in 2022\" width=\"640\" height=\"427\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-1024x683.jpg 1024w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-300x200.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-768x512.jpg 768w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-1536x1024.jpg 1536w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-2048x1365.jpg 2048w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_21199863_XL-min-600x400.jpg 600w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Timeline_of_Prices_going_down_for_New_Cars\"><\/span><span data-preserver-spaces=\"true\">Timeline of Prices going down for New Cars<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">New car manufacturing has slowed dramatically due to the semiconductor scarcity and other issues. As fewer new cars became available, prices rose, and demand remained unchanged.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By July 2021, U.S. dealer inventories had dropped to historic lows, and car prices had skyrocketed past MSRPs. When automakers can create a regular supply of new cars, the market is expected to level out, and prices will fall.\u00a0<\/span><span data-preserver-spaces=\"true\">You&#8217;ll notice that there are no new cars on the lots of new car dealerships if you drive past them.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/media0.giphy.com\/media\/oCnqvqgc1H1Ac\/giphy.gif?cid=ecf05e47zhf0z8sd1espzo4laie5e49d92iqejmnc64qbdn5&amp;rid=giphy.gif&amp;ct=g\" alt=\"Pay Day Money GIF\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/giphy.com\/gifs\/money-dollars-gif-oCnqvqgc1H1Ac\">via GIPHY<\/a><\/p>\n<p><span data-preserver-spaces=\"true\">Fortunately, the shortage of semiconductor chips is starting to ease.\u00a0<\/span><span data-preserver-spaces=\"true\">When new car production resumes, prices for new cars should fall. According to recent industry data, this might happen as early as 2022, with the market returning to normal by the end of this year or early next year.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tips_on_Buying_a_New_Car_in_2022\"><\/span><span data-preserver-spaces=\"true\">Tips on Buying a New Car in 2022<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">If you&#8217;re in the market for a new or used car, make sure you comparison shop to avoid overpaying. While shopping for a car may take a little longer, the payoff maybe thousands of dollars.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-39001 size-large\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-1024x683.jpg\" alt=\"Tips on Buying a New Car in 2022\" width=\"640\" height=\"427\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-1024x683.jpg 1024w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-300x200.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-768x512.jpg 768w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-1536x1024.jpg 1536w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-2048x1365.jpg 2048w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/04\/Depositphotos_39412623_XL-min-600x400.jpg 600w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><span data-preserver-spaces=\"true\">Way.com offers five suggestions for buying a car in today&#8217;s market:<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Shop in a larger area than you would typically:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Different dealers address the shortage of new cars differently. Many consumers buying new cars are increasingly traveling hundreds \u2014 or even thousands \u2014 of miles to get one. If you&#8217;re seeking a specific car, we recommend searching for all dealers within 500 miles and visiting their websites to see their current inventory. Then you can send emails to other dealers to see which ones don&#8217;t mark up prices above MSRP.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Don&#8217;t overpay for a secondhand car compared to a new one:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0You might be able to get a new car for less money than you can get a used car. You won&#8217;t have to worry about the car having issues or a terrible background.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Paying for extra features for convenience is not a good idea:<\/span><\/strong><span data-preserver-spaces=\"true\"> Dealerships are currently receiving cars in stock that are typically loaded with extra options that you may not desire.\u00a0<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Patience is a virtue:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0You may have to order your car and wait for it to arrive. You&#8217;ll get the car you want without the extras if you order precisely what you want from a dealer who isn&#8217;t pushing costs up over MSRP, and you&#8217;ll save a lot of money by being patient and waiting.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">If you can, don&#8217;t buy right now:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">If you can, wait until the price of a new car drops before purchasing one. Now is the time to be patient and wait for the market to calm down.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bottomline\"><\/span><span data-preserver-spaces=\"true\">Bottomline<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">It&#8217;s still the wrong time to buy a car right now. However, as the year progresses, the situation should improve. <\/span><span data-preserver-spaces=\"true\">The car market will not become robust overnight, but it will progressively improve until 2022. Before the market returns to balance, the significant distortions in the car market will subside.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The longer you can put off buying a car this year, the better.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/media4.giphy.com\/media\/YrUBcQMKUP5MBo6bAH\/giphy.gif?cid=ecf05e47eud8oltqtuiw8e7g7ewiq7iu174cyop57ybafu6j&amp;rid=giphy.gif&amp;ct=g\" alt=\"Monday Night Raw Sport GIF by WWE\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/giphy.com\/gifs\/wwe-wrestling-YrUBcQMKUP5MBo6bAH\">via GIPHY<\/a><\/p>\n<p><em><span data-preserver-spaces=\"true\">Here&#8217;s more info on\u00a0<\/span><\/em><a class=\"editor-rtfLink\" href=\"https:\/\/www.way.com\/airport-parking\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">top-rated airport parking<\/span><\/em><\/a><em><span data-preserver-spaces=\"true\">,\u00a0<\/span><\/em><a class=\"editor-rtfLink\" href=\"https:\/\/www.way.com\/cities\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">the best parking spots in your city<\/span><\/em><\/a><em><span data-preserver-spaces=\"true\">, the most\u00a0<\/span><\/em><a class=\"editor-rtfLink\" href=\"https:\/\/www.way.com\/insurance\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">affordable insurance<\/span><\/em><\/a><em><span data-preserver-spaces=\"true\">\u00a0for your car, and\u00a0<\/span><\/em><a class=\"editor-rtfLink\" href=\"https:\/\/www.way.com\/car-wash-near-me\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">top-rated car washes near you<\/span><\/em><\/a><em><span data-preserver-spaces=\"true\">.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re in the market for a new car, you&#8217;re in for an unpleasant surprise. The car prices in 2022 have gone through the roof. Will car prices ever come down in 2022? Since the COVID-19 pandemic began, prices for new cars have hit an all-time high. The average car cost 41% more in November&hellip; <a class=\"more-link\" href=\"https:\/\/dev.way.com\/journal\/car-prices-2022\/\">Continue reading <span class=\"screen-reader-text\">Will the Prices of New Cars Come Down in 2022?<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":38999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1079,2863],"tags":[],"class_list":["post-38994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-car-services","category-car-talk","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.3 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Prices of New Cars in 2022: Will it come down? Don&#039;t hold your breath!<\/title>\n<meta name=\"description\" content=\"If you&#039;re in the market for a new car, you&#039;re in for an unpleasant surprise. Will car prices ever come down in 2022? Read on to know more.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will the Prices of New Cars Come Down in 2022?\" \/>\n<meta property=\"og:description\" content=\"If you&#039;re in the market for a new car, you&#039;re in for an unpleasant surprise. Will car prices ever come down in 2022? 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