As many consumers look to purchase cars around the holiday season, Ivan Drury, Edmunds director of insights, joins Wealth! to break down how you can get the best deal. Drury explains that you can price-compare vehicles to determine what other consumers paid. In addition, you can also research the interest rates other people got, allowing you to better understand what a fair price looks like for the purchase. While the demand for electric vehicles (EVs) has decreased, Drury explains that you can get "get a deal on those almost universally." Meanwhile, hybrid vehicles are back in focus for many consumers, and there may be waiting lists for some models. "We’re seeing kind of a shakeup over the last two years as to what the consumer’s priorities are. And I think when you look at interest rates being as high as they are — even if they’re coming down a little bit and you’re starting to see more promotions from automakers — it’s something in which that basic transportation that’s top of mind again. A lot of flashy stuff not selling as quickly, people can just go to point A to point B in a reasonable manner," Drury tells Yahoo Finance. When searching for the right car, he recommends buying a vehicle that you love: "You got to drive roads that you drive on a regular basis and think about all the different use cases for it. You know, it’s one of those things where, yes, you might like the color, or you like certain features within that vehicle, but if there’s something, that one thing that nags at you while you’re test driving, that could cause you to come back to the market too soon." Watch the video above to hear Drury’s tips for buying EVs.
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