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Some experts say now is the time to go car shopping

A few salesmen in Lafayette say the price for a new or used car has decreased, despite rising interest rates.
Posted at 10:15 PM, Mar 08, 2023

Finding an affordable car has been a challenge for some people in the pandemic.

However, some car experts in Acadiana said the prices are changing and they are trying to attract more consumers with incentives.

Bryce Godwin has been working as a Sales Associate for Acadiana Dodge Chrystler Jeep Ram in Lafayette for more than 24 years.

He said while prices are going down, incentives are going up.

"Ideally, as long as you pay your bills on time and everything, you should be able to get a pretty descent rate," Godwin said. "Rates have dropped a smidgit...right now, we have some quad cab, big horn trucks that have a zero percent option on them."

Thomas Broussard is the Sales Manager for Hampton Toyota in Lafayette.

Broussard said there's a difference between the price for a new or used vehicle now, in comparison to this time, last year.

Now, vehicles at Hampton Toyota range between 15-thousand and 60-thousand dollars and dealers are not as overwhelmed by supply chain issues.

"They are somewhat lower," Broussard said. "Mainly due to a slight increase in supply, mainly of new cars into the market...It's a great time to buy cars right now because of the new models coming out and all of the increases in safety and technology that are standard in vehicles now."

While it is unclear how long the vehicle prices will remain the way they are, experts say they are subject to change, as interest rates climb.