Demand, price for cars on the rise

TETERBORO - Automotive industry experts say that as the demand for replacement cars in New Jersey goes up, so could the price for a set of wheels.

Thousands across the Garden State are in the market for cars to replace vehicles damaged or destroyed by Superstorm Sandy.

According to the National Auto Dealers Association, this could cause prices on used vehicles eight years or older to jump 1.5 percent in December.

Thankfully, many dealerships and banks are offering incentives to help out buyers who were victims of the disaster.

Teterboro Chrysler is offering free towing for customers' damaged vehicles, and they've offered to pick up as much as $1,500 on the deductible of the car sale.

Ally Bank, meanwhile, is giving customers up to 90 days before requiring payment on car purchases.

In order to qualify for "Sandy" discounts, drivers must show proof from their insurance company that their vehicle was damaged or totaled in the storm.

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