Coronavirus and Car Buying: What You Need to Know
It’s safe to say that, over the last several months, a lot of things have changed as a result of the rapid spread of the Coronavirus. There are plenty of things that we can’t do (at least not in the way we used to), from going to concerts to grocery shopping without a mask.
One thing you can still do, though, is shop for a new car. Car dealerships have reopened and shifted the way they do business to comply with state and federal guidelines. Read on to learn everything you need to know about car buying during the COVID-19 pandemic to help the process go as smoothly as possible.
Car Dealerships’ Response to COVID-19
In response to the pandemic, sales numbers plummeted after stay at home orders went into effect. As a result, automakers and dealerships have had to take steps to attract buyers. This includes incentive offers, price reductions, and even deferred finance options for those who are concerned about the expenses associated with purchasing a new vehicle.
Some automakers have also created programs specifically for first responders like healthcare workers. They’ve offered discounted programs and cash incentives as a way to say thank you and get people in the door. Many dealerships are offering discounts on services like oil changes, too.
Throughout the country, car sales are allowed to take place. The way dealerships are doing business differs, though. Some have kept their showrooms closed because of state guidelines, for example. In these places, showings and transactions can take place online or over the phone.
Should You Buy a Car Right Now?
With this information in mind, now might be a good time for you to purchase a new car. If you have the funds to do so, you can likely find a great deal on a car that might have been out of your price range otherwise.
Due to steep discounts and incentive offers, though, it’s important to act quickly. This is especially true if you’re looking for a popular car model. Inventory is limited as a result of these deals, as well as auto plant closures that are reducing production numbers.
Tips for Buying a Car During COVID-19
If you decide to purchase a new car now, there are some specific steps you’ll need to take to ensure you’re getting a good deal and also keeping yourself safe. Remember these tips as you move forward with your car shopping journey:
Get Pre-Approved
Getting pre-approved for an auto loan is always a smart move. This is especially true during these times, though.
If you get pre-approved before you start shopping, you’ll have a clear idea of how much you can afford to spend on a new car. It’ll make the process a bit smoother and more efficient. It’ll save you from falling in love with something that’s way outside of your price range, too.
Shop Online First
During pre-COVID times, it was already common to shop online before heading to the dealership to purchase a vehicle. Now that you’re staying home as much as possible, though, it’s even more important to do some looking around online first.
Shopping online will help you to get a clear idea of what kind of car you want and what’s available in your area. It makes comparison easier, too, and allows you to look at offerings some several dealerships at the same time.
When you start looking online, include as many details as possible in your search. This includes things like your desired car’s year, make, model, and color, as well as any unique features that are important to you (back up camera, leather or fabric seats, etc.).
Research Auto Loan Rates
In addition to research the availability of different cars, research different auto loan rates, too. This will help you save more money and feel confident that you’re getting the best deal possible.
Keep in mind that the best auto loan interest rates will be for those with higher credit scores. At the same time, though, some dealers are loosening their requirements a bit to help more people purchase vehicles. Talk to the finance department at the dealership you’re considering to see what they can do for you.
Ask About Remote Test Drives
Some dealerships are offering virtual test drives so shoppers can get an idea of how a car runs and what it’s like to be behind the wheel. It’s better than nothing, but it can’t beat actually driving the car yourself.
When you’re communicating with dealerships in your area, ask if they offer remote test drives (a salesperson meets with and brings the car to you so you can test it in a safer way). This helps you to get a better feel for the car without exposing yourself to tons of people at a dealership.
Call Ahead Before Going to the Dealership
If you’re located in an area where dealership showrooms are open, you might be thinking about going to check out a car in-person.
Before you do this, call ahead and find out what rules the dealership has in place (Are masks required? Can only one person visit at a time?). This will ensure you have a smooth experience once you arrive and don’t have to jump through any additional hoops.
Be Patient
Finally, remember to be patient. Car shopping requires some additional steps right now, but it can be done easily and efficiently. Take your time, follow the rules, and you’ll eventually be able to get into your ideal car.
Are You Ready to Buy a Car?
The car buying experience may have changed in the wake of COVID-19. It’s not impossible to purchase a new car at this time, though. Keep the information outlined above in mind and you’ll have no trouble finding the right car at the right price.
Do you want to learn more about getting an auto loan or preparing to buy a car? Check out some of the other resources on our site today for more information. www.draganjakovljevic.com
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