Drive After Sandy: Sorry, No Cars
Still car-less after Sandy? Thinking of buying a used one? Or rent one over the Thanksgiving weekend? Good luck.
Car rental lots in the Northeast are wiped clean, despite rental companies trucking in thousands of cars, ABC reports. Mass transit problems, storm loss at rental companies, and a spike in from insurance claims merged with the usual holiday demand and created a perfect storm at rental counters. “The probability of securing a car for travel over Thanksgiving weekend is slim,”a Hertz spokesperson told Transportation Nation. Pretty much the only wheels available are on moving vans.
If you are really desperate, you may be considering buying instead of renting. It will cost you. Already high used car prices could jump by $700 to $1,000 on some models, says the Wall Street Journal, while incentives for new cars are melting away.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Didn't you guys just put out an editorial saying Sandy wouldn't affect used car prices?
My brother flew into Newark this past Friday and had a rental car waiting for him. No problems or anything, but he did have the trip booked before Sandy.
Now before the dealers start getting blamed for gouging... Prices at the auction will most likely increase because of Sandy, as dealers will also struggle and try to outbid each other just to keep their inventory stocked. A car that sold for $10k wholesale before Sandy may now cost up to $12k. Unfortunately, retail prices will have to reflect that price increase. It's a simple case of supply and demand.
Buying a used car would be a great idea :)