Driving Toward a Better Car Buying Experience | Guiding You Forward

The automotive industry has taken a few hits in recent years. From inventory shortages to rising rates, it was difficult to know where you stood when shopping for a vehicle. Fast forward to 2024—inventory has stabilized but rates are still higher than they’ve been in quite a while. What does this mean for car buyers? Fortunately, we have Ji Skeem, the director of direct consumer lending, in the Mountain America Credit Union podcast studio to provide comprehensive insights into the current state of the car market.

In this video, you will learn:

• About the current auto market and how it has changed over the past few years.

• How to assess the true cost of a vehicle and why it’s so important to your purchase decision.

• The pros and cons of leasing vs. buying and new vs. used.

The recent changes in the auto market play a big part in the price of your car, loan rates, fuel costs and the overall cost to own a vehicle. Ji provides insights to guide your decision to make the right choice for your budget.

The sticker price on the car isn't the sole financial consideration when making your selection. Have you considered other factors that contribute to the total cost of owning a car? Ji reviews other expenses, including maintenance and depreciation, that must be examined when assessing what you can afford.

Once you've decided which vehicle will work for your needs and budget, the next step is to craft a purchase plan that aligns with your financial situation. Ji analyzes the pros and cons of buying new or used as well as buying vs. leasing. Additionally, he sheds light on how the market conditions are impacting the prices of each of these alternatives.

Watch the full video to get Ji’s unique perspective!