Lifestyle

Used Car Prices on the Rise: What You Need to Know

Published

5 years ago

June 21, 2021

The impacts of the Covid-19 pandemic are wide-ranging. Some are also easy to overlook. Not every effect of the pandemic is as obvious as others.

For example, rental car companies often sell their vehicles after a year or so. This practice plays a critical role in determining the average cost of pre-owned vehicles. Many used cars are actually formerly rental cars.

However, because travel was extremely limited during the pandemic, when rental car companies sold off their vehicles early, they didn’t buy replacements. The low demand for rental cars made buying new vehicles unnecessary at the time.

This has resulted in a shortage of used cars available to buyers. Because rental companies didn’t buy as many replacements as they typically would, they now don’t have as many vehicles to sell to used car dealers and buyers.

This is one of several reasons used car prices are remarkably high right now. The implications of this for car buyers, owners, and sellers are numerous.

For example, if a car owner was considering eventually selling their vehicle and upgrading to a new model, now may be the best time to do so. Used cars are currently scarce, but that won’t always be the case. As their availability returns to normal levels, so will their prices. If a seller waits to sell their vehicle, by the time they do, they may not get nearly as much money for it as they would if they sold sooner rather than later.

It’s also worth noting that the pandemic made manufacturing and designing new vehicles very challenging for several months. This also contributed to the rise in used car prices. With fewer new vehicles available, buyers had to purchase used cars. Increased demand yielded increased cost.

However, new vehicles are beginning to hit the road again as the pandemic winds down. A buyer might thus sell their used car for a good price now in order to upgrade to a new model.

Even someone who doesn’t currently own a vehicle might want to consider these factors if they were planning on buying one in the near future. This is the case if they initially planned on buying a used car to save money.

Typically, buying a pre-owned vehicle instead of a new one is an effective way to limit spending when a buyer is on a tight budget. However, given that used car prices are currently much higher than ordinary, the amount of money a buyer could save is currently somewhat limited. They may simply be better off buying a new car that’s in better condition and boasts more innovative features.

Additionally, while demand for used vehicles may eventually wane, reducing their cost as a result, experts believe that might not necessarily happen soon. Now that vaccines are available and restrictions are being lifted, many people are buying used cars out of a desire to travel. This trend may continue for at least a year. As such, the high demand for used cars is probably going to remain consistent for some time.

Whether someone plans on buying a car, selling a car, or both, they should remember these points when deciding how to proceed. The rise in used car prices may be one of the more overlooked ripple effects of the pandemic. However, for drivers, it could also be one of the more significant.

Lifestyle

Kelli Lewis and Her Inspiration Behind KelliWorks

Published

4 hours ago

March 29, 2026

Michelle Langton

Kelli Lewis has made a name for herself through her virtual accounting firm KelliWorks which specializes in dealing with the finances of small and mid-sized businesses. The firm was established, keeping in mind the need for expert and technology-driven accounting services to cater mainly to small and mid-sized businesses. At a time when these small and mid-sized business owners were struggling with the inconsistencies in their accounting work, bookkeeping, and payroll management, Kelli came up with her firm that provided bookkeeping, financial strategy consulting, helping businesses to deal with their finances and giving solutions using technology, and payroll management.

Kelli uses her experience as a small business expert to help businesses still stuck with the conventional methods of accounting. Her firm, KelliWorks is remote and leverages the latest accounting technology and helps these small and mid-sized businesses find accurate and scalable solutions.

Kelli Lewis’ Inspirational Story in Being a Successful Small Business Expert

Born on April 5, 1985, in Orange, New Jersey, Kelli Lewis does not have any formal education, nor has she graduated from an educational institution. Kelli’s early years were spent on her mother’s recovery from a coma after a car accident. It was during that time while spending time with her mother at her rehabilitation, Kelli understood what it meant to be adaptable and perseverant. That, later on, went on to become the qualities she used in her business approach towards entrepreneurs. She built her career through hands-on experiences, an understanding of business operations and financial management, and mentorship.

Kelli’s story is inspiring because despite not having a formal degree, her business KelliWorks was created to encourage entrepreneurs to find their strength and build a team that compliments their workforce. Kelli’s understanding of how to sustain a business, future-proof business models, and implement financial safeguards have helped her guide businesses to navigate their obstacles.

She attributes her success at her business to the values she learned while growing up. She uses the experience gained through back-office management, business consulting, and accounting. That enabled her to understand the need to get rid of outdated accounting systems and come up with a modern one that was technology-based.

Her virtual accounting firm, KelliWorks offers a range of business and accounting consultations, and goes with the catchphrase, “KelliWorks, so you don’t have to”. They include:

● Bookkeeping and Payroll Management – This ensures accurate financial records and smooth payroll operations.

● Business Process Optimization – Helps to implement automated systems that will improve forecasting and financial decision making.

● Financial Strategy and Planning – Assists businesses with budgeting and cash flow efficiency. It reduces reliance on manual processes.

● Technology Integration – It utilizes cloud-based accounting software and financial tools to streamline business operations.

KelliWorks is dedicated to lessening the financial stress of small and mid-sized businesses by giving them support and proper financial guidance. The entrepreneurs are informed about the best practices they can adopt, the long-term successful financial strategies, and technology solutions. Their commitment to stay at the forefront of small business financial consulting is commendable. The firm deals with the financial aspects of the businesses and thereby helps the entrepreneurs concentrate on their business growth.

Running a successful business and managing a family can be a challenge. Kelli Lewis balances her family life with her work life by incorporating the systems that allow her business to function efficiently and effectively. Her boundaries between work and family are well-defined. Kelli sets a good example to those who are business-minded on how to cope with the pressures of being competitive and flexible when it comes to combining her personal and work lives together.