lenders

Why you shouldn’t buy a used car right now By Josh Dowling April 10, 2021  A chronic shortage of new cars – caused by production interruptions due to parts delays during the coronavirus crisis – has prompted an unprecedented surge in used car values across Australia. Used car buyers are either treating themselves to a new set of wheels amid international travel restrictions, or planning to embark on an epic road trip. However, experts warn people should not buy a used car now unless it’s a necessity because they forecast values will hit the brakes in about six months once production of new cars ramps up again. The used car market has had an unprecedented boom since the pandemic began. CREDIT:ROB HOMER Data compiled by Moody Analytics - and sourced from auction houses that handle thousands of wholesale deals each month - estimate used car values have surged between 30 and 48 per cent since the pandemic struck early last year…