Patch Poll: Is It Time to Buy a New Car?

Do you remember the price of your first new car? It was most likely way below the record average price of $30,748 new cars are fetching, according to a recent report in the Detroit News Press.

The news story says the price is up 6.9 percent from a year ago.

Why?

• Consumers are choosing more expensive trim levels and options for their new vehicles.
• There are fewer dealers; the recession forced many to close.
• Inventories are not as high as in the past. Detroit is halting production instead of being stuck with high volume and forced to offer discounts and rebates to move stock.
• More credit is available for consumers who want to replace their aging vehicles with more fuel-efficient ones.
• Incentives have dipped significantly, from a high of 15 percent to 20 percent off sticker prices in 2005-06, to 5 percent now.

U.S. auto sales in March ran at a 14.4 million annual sales rate, up from 13.1 million in March 2011, according to the Detroit News Press.

For Patch readers who are thinking about buying a new car soon, we ask: Why are you in the market for a new car?

Last week's asked: Do you think the economy is headed in the right direction? Employers added 120,000 jobs to their payrolls last month, unemployment rate is down and gas prices may have leveled off. But that is not good enough for Patch readers who responded to the poll; 64 percent answered that the economy is still going downhill. Twenty-four percent say things are getting better, and 11 percent said they aren't sure.