Anyone who has driven past a car lot knows that dealers have virtually no inventory. So what do you do if you need a car?

IBJ personal finance column Peter "Pete the Planner" Dunn found himself in just that predicament recently. And he tells host Mason King that shopping for a car was like nothing he's experienced before.

Buyers have no negotiating power. Zilch, he says. And that's because there are as many buyers on a lot looking for a vehicle as there are cars. In fact, dealers are pre-selling the cars they're expecting to receive.

The upshot, Dunn says, is to try to avoid buying or leasing a car right now. But if you have little choice, you might want to listen to this conversation before you head out to the lot.

For more, read Dunn's latest IBJ column:

Pete the Planner: Time bigger purchases (if and when you can)

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