‘LANSING, Mich. (WLNS) – “Supply and demand. Supply and demand,” said Terry Hanks. He’s the president of Sundance Chevrolet and GMC.
You might recognize him from his commercials.
“When you’re looking for something different, boy you better come to Sundance Chevrolet,” his commercials say.
Over the last year, demand for used cars has soared around the United States for a variety of reasons – mainly pandemic related.
Hanks said it’s been absolutely crazy.
“There’s less of them (used cars) around so they’re coming from helter-skelter. We’re getting customers from all over the United States,” he said.
Used cars are so popular right now that for every six customers who come on property at Sundance Chevrolet, they said roughly five of them are looking for a used car.
“There’s a truck going to Wyoming right now.” said John Viselli, a general manager at Sundance.
He said customers are literally taking the cars off their hands.
“We get calls all the time coming in that say I see that you’ve got this stock number of this car of this color, is that still there?”
The old saying is that the second you drive your new car off the lot, it loses a quarter of its value.
If you played your cards right last year, Hanks said that might not be the case.
“In some cases, if you bought a car inexpensively last year and it’s a nice looking car in high demand, it could be worth more this year than last that’s for sure,” Hanks said.