Car shopping experts are advising consumers to spend some time studying and trying to remain receptive to alternative manufacturers and purchasing options while looking for a new vehicle during the Memorial Day weekend, according to Edmunds.
Edmunds' car purchasing experts say that bargains have been almost nonexistent since a global chip shortage has created difficulties for vehicle dealerships in the U.S. and across the world.
"Memorial Day historically has been an opportunity for dealers and automakers to kick off huge summer sell-down sales, but things are looking a lot different this year," Jessica Caldwell, Edmunds' executive director of insights, said on Edmunds' website. "On top of the initial disappointment of fewer free hot dogs and doughnuts at the dealership this holiday weekend, shoppers are going to have to work a lot harder to find the vehicles that they want. They might need to compromise on features to find more affordable vehicles, or even consider more alternative purchasing options than they have in the past."
Edmunds analysts suggest that car buyers seeking to discover cheap alternatives in a new market this holiday weekend may benefit from leasing, rather than financing, their next vehicle.
Additionally, the U.S. Senate plans to spend $52 billion on the semiconductor industry, but the proposal is not without opposition, according to Yahoo! Finance. Sen. Bernie Sanders (D-Vermont) stated in a Tweet: "We should not be handing out $53 billion in corporate welfare to some of the largest and most profitable corporations in the country with no strings attached."
While Sanders said that the U.S. should increase its chip manufacturing capacity, he did not elaborate on how this should be accomplished.
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