Desperate New Yorkers are Travelling HOW FAR For Used Cars?

If you've listened to 104.5 The Team for any period of time, odds are, you've heard a car commercial that has mentioned "supply chain shortages" and how much havoc it's wreaked on the used car market.

It's not just New York that's suffering from this shortage, but the Capital Region has seemed to have exceptionally bad fortune when it comes to buying and selling used cars.

Still, the need for motor vehicles exists, and desperate residents of the Empire State are going to new lengths in order to try to find "the one" for the transportation of themselves and their family.

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Survey Data Says New Yorkers are Travelling Far and Wide for Cars

The communications company White Hot PR published findings from a survey conducted by a Lexington, Kentucky-based car dealer, Quantrell Subaru. Quantrell surveyed 2,690 buyers from across the country, and gauged how far they'd be willing to drive in order to find a good deal on a used car.

The responses are eye-popping, and New York is no different from the rest. The average respondent to this survey from New York state claimed they would drive 470 miles to purchase a used car, the equivalent of a road trip to Roanoke, Virginia.

The number is on the lower side of the survey, too, as respondents from Alaska and New Mexico said they would drive 700+ miles to buy their "new" used car. The used car market is all out-of-whack, as Brentley Jones of Quantrell Subaru told White Hot PR that an estimated 40% of their used car stock is being shipped out-of-state.

How Bad Has the Used Car Shortage Been in New York State?

Simply put, used car prices are through the roof, when compared to what was happening in 2021. CarGurus Index lists the average price of a used car as up +29.79% year-over-year, which would mean that a car worth $15,000 in 2021 would be selling for $19,468.50 this year.

Certain cars are trending even higher than others, too. Minivans are pricing at +39.09% more than last year, and SUVs are at a cool +27.70%. Among popular car brands in the region, Chevrolet is at +30.90%, Ford comes in at +26.73%, and Honda tops them both at +37.67%.

While driving close to 500 miles for a new car seems crazy as a concept, prices for used cars across the country are off the rails in 2022. So, maybe one road trip for years of road trips, isn't such a bad idea.