FAYETTEVILLE, Ark. (KNWA/KFTA) — Quantrell Subaru, a Lexington-based vendor, commissioned a survey of two,690 consumers throughout the nation to search out out simply how far they’d be ready to journey to purchase a used automobile.
The survey found that many Arkansans are prepared to drive the gap for deal: the typical particular person right here mentioned they’d journey as much as 500 miles to buy a used automobile, across the equal of a highway journey to Indianapolis.
When damaged down throughout state strains, these in Alaska have been ready to journey the furthest to select up their excellent used automobile, 722 miles. Comparatively and extra tentatively, Vermonters have been solely ready to journey 286 miles.
The worth of used autos has skyrocketed by 37% from December 2020 to December 2021, marking the biggest 12-month improve for vehicles within the historical past of the buyer value index. Whereas the market surge has yielded some benefit to the revenue margins of many native sellers, potential consumers are discovering themselves struggling to search out vehicles inside their finances, and even inside their state boundaries.
The hovering costs of the used-car market is largely the results of an issue that has affected the financial system because the pandemic started—a extreme scarcity of laptop chips, fueled by a ramped-up demand for computer systems and family merchandise that additionally use these semiconductors.
An infographic that includes the outcomes of the research is available here.
