Car Prices Remain High Despite Economic Slowdown: A Salesman's Insight

Car Prices Soar Despite Economic Downturn: A Salesman's Perspective New Jersey - Amidst claims of a struggling economy, car prices remain stubbornly high, leading many to question the affordability of vehicles. A recent video by a New Jersey car salesman, Joseph Rodriguez (@jrodsellscars), sheds light on this perplexing trend. Rodriguez explains that despite high interest rates, consumers continue to purchase cars at record rates. "Regardless of where the economy stands, people are always going to buy cars because they're necessities," he states in the video. He supports this claim by referencing the inflated car prices seen during and after the COVID-19 pandemic, where dealerships were selling new cars for thousands of dollars over sticker price. Even with used cars, he notes that prices remained significantly higher than pre-pandemic levels. However, Rodriguez also points to a potential downside: "Banks are still giving out loans to people who probably shouldn't be getting loans," he observes, suggesting that this practice may lead to a surge in repossessions in the near future. While the high demand for cars persists, Rodriguez's insights highlight a complex interplay of economic factors and consumer behavior. His observations offer a valuable perspective on the current automotive market, prompting further discussion about the long-term sustainability of this trend.