10:10 Economy Rockford: Changes Coming to Spring Auto Market

By: Kristin Burke
By: Kristin Burke

In tonight's Economy Rockford report.. a local expert details what's ahead for the car market and how some big changes will affect our buying habits and our wallets.

23 news auto expert George Schaffner thinks buyers will get a big lesson in supply and demand when it comes to buying a car .

Manufacturers have finally learned how to control their inventory.

Most dealers have a new car supply that will last them 53 days... compared to over 100 days last year.

This could make it harder for us to find a car because dealers won't replenish their supply as quickly as before.

Schaffner says if we see a car we want our best bet is not to wait because incentives we have gotten used to will be a thing of the past .

"Probably the transaction price is going to increase because there is no sitting inventory.. rebates may be a thing of the past or very small if any but your also going to see your re-sale value go up because if your average transaction price increases, the re-sale value increases as well, so even though you might be spending more this Spring your car is going to be worth more in the long run and your cost of usage may be the same if not even less."

And speaking of auto highlights this year...The annual Spring Auto show begins tomorrow at 10-am at Cherryvale Mall. The show features one hundred cars.. trucks and vans in all the latest styles and colors. The show continues through Sunday


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