Looking for a used car? Get ready to pay more.

Everyone knows when you drive a new car off the lot, its value depreciates immediately.

According to Ahmad Issa, owner of Legend Motors car dealership in Windsor, that’s not true anymore. 

“The market has been a little different in the past couple of years, we’ve seen a dramatic change in the used car business,” Issa said. “There’s a shortage for inventory and what’s causing this is the demand for used vehicles.”

There has been a shortage on new vehicles, so people are looking for other ways to get into cars and that’s to go for something used instead of new, Issa said. “The market in the U.S., a lot of the used car dealers have been shipping cars to the U.S because there’s a demand there as well. So, it’s harder for us to get inventory to put our on our lots.” 

There has been a shortage on new vehicles, so people are looking for other ways to get into cars and that’s to go for something used instead of new, he continued.

“So as you guys can see on my lot, I used to have about 50 used vehicles at all times and the past couple of years, I want to say we’ve dropped to maybe 20,25 vehicles,” Issa said. “We’re hoping for things to become better yes, the prices have gone up as well.” 

Anthony Harb is one of the people having no luck looking for a car. 

“For me, I have two little daughters, every day I have to drop down to school and back, so I tried to get a car, a new car,” Harb said. “I couldn’t afford it because the prices are going so high. Also, the used car we’re not afford to anymore to get used car. So, I don’t know what’s going to happen.” 

 Henry Pedler has a flooring business and needs cargo vans, but can’t even buy used ones. 

“I need to buy new ones or used one, the prices is almost 30 to 40% higher than usual the parts everything we’re facing these days is hard,” Pedler said. “So, I wish everything changed. So, the business keeps running good and everybody can afford them.” 

According to statista.com, used cars in Canada outsell new cars three to one.