Lifestyle

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

Published

3 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

Gutiérrez F Studio Masters the Art of Unforgettable Events

Published

1 week ago

September 24, 2024

Michelle Langton

Photo Credit: Gutiérrez F Studio

Byline: Katreen David

Every great love story deserves a walk down the aisle straight out of a fairytale. From the conceptualization to the perfect centerpiece, boutique event planning companies like Gutiérrez F Studio can puzzle the details together to craft an event that tells the bride and groom’s story.

Today, where wedding ideas are beautiful yet veer toward feeling recycled, Gutiérrez F Studio imparts a sense of uniqueness, identity, and human connection to every event it brings to life.

“Everyone has access to the same Pinterest boards, but our mission is to create events that are truly unique. We aim to make every detail tell a part of our clients’ stories,” shares Fernando Gutiérrez, the founder and lead creative of Gutiérrez F Studio.

Knot Your Average I Do: Crafting Experiences

From the very first consultation, it is clear that the Mexico-based event studio is anything but run-of-the-mill. Each project is a culmination of a deeply personal journey, guided by a commitment to crafting experiences that are both visually elegant and emotionally reverberant.

At Gutiérrez F Studio, the magic of a well-crafted event is not just about grand visuals; it is about creating experiences that age gracefully into core memories over time.

The nuptials designed by Gutiérrez F Studio are out to resonate deeply with the people they celebrate. As a full-service event design and production studio, Gutiérrez F Studio specializes in transforming visions into reality through custom architectural design and art. It comprises a team of warm, reliable, and innovative creatives.

What truly speaks volumes about its signature brand is the dedication to delivering seamless, end-to-end service that covers every aspect of the event. The team meticulously plans and manages every detail, collaborating exclusively with top-tier suppliers for quality that is second to none. This encompasses aspects that engage all the senses, such as top-tier audiovisual elements and menus curated by world-renowned chefs.

The studio has put its name on the map as a master of storytelling, a notion that is evident in even the minutest of details. “We don’t just follow trends. Instead, we create atmospheres that blend romance, elegance, and innovation, tailored to reflect each couple’s unique love story,” notes Fernando Gutiérrez. “Our aesthetic is concept-driven, meaning every event we design is a one-of-a-kind narrative brought to life in creatively curated spaces.”

From 2017 to Forever

Over the next 12 months, Gutiérrez and his team will actively explore opportunities to expand their target locations, aiming to bring their bespoke event design and production services to new international markets. So far, they have been the go-to brand across Mexico and Europe.

Since its founding in 2017, Fernando Gutiérrez’s company has completed over 320 projects, earning clients’ trust locally and globally. From the beaches of Mexico to its rapid expansion into the scapes of Spain and Italy, Gutiérrez F Studio has been rendering exceptional events worldwide, proving that the celebration of love is a universal language.

“Whether we’re planning events in Mexico or across the ocean, we hope to create moments that our clients will look back on fondly,” shares Fernando Gutiérrez.

For every bride and groom that the team works with, Gutiérrez F Studio promises that each walk down the aisle is the start of a new fairytale that is entirely their own.