Tags: Coronavirus | Financial Markets | car | deals | coronavirus | pandemic

Can You Find Good Car Deals During Coronavirus Pandemic?


By Friday, 10 April 2020 01:00 PM Current | Bio | Archive

While most of us are home as we shelter-in-place, the internet has been where most people are spending their day. Recently, I’ve had quite a few people ask me about buying a vehicle now and a few that needed a vehicle immediately.

While your first thoughts are: no one is buying vehicles I can get a killer deal. Then you may wonder is buying a car still safe right now.

Before you have a knee-jerk reaction. Do your research online and narrow down your options. Watch reviews from multiple outlets and make your own decisions.

Most dealers are closed except the service areas, do don’t try to walk in to any dealer, no one wants to gets sick. Many dealerships are answering calls and emailing. Some dealers are offering at-home test drives, vehicle pick-up and delivery, for service customers too.

Is the Coronavirus Affecting Car Prices?

Some automakers are offering special incentives during the pandemic to try to keep sales up. There are some deals out there but no one is going the cars away at super deep discounts. Several major automakers are offering some form of payment relief to customers who've financed cars through them.

Dealers are looking to clear out there 2019 vehicles that would have typically sold over the last few months. There may be some deals waiting for you there.

What Is the Best Financing Option?

The coronavirus has brought some good financing options and low percentage rates. Make sure to check with a credit union and your bank before making final decision on the purchase and see what the lease rates are being offered too.

As a result, U.S. auto production is essentially shut down through April, though car repair facilities generally remain open, as does some level of sales and leasing operations in most states.

If you have a vehicle coming off a lease soon, they finance company most likely has contacted you. If not, be proactive, most leasing companies are creating coronavirus plans with flexibility on leases — typically up to a six-month extension on expirations.

Will There Be Shortages of Vehicles From Domestic and Foreign Automakers That Are Built in North America?

Not so far, but there could be later in 2020, particularly for popular vehicles. There is a substantial inventory on dealer lots, but production in the U.S. is mostly shut down, with prospects for a restart uncertain.

For vehicles coming in from outside the country, production problems vary by country, and it also remains to be seen how much the pandemic will affect the shipping and delivery to dealers.

Many manufacturers will cut their output to get back on schedule and meet the demand which may or may not be high.

If you do buy a car, all the paper work can be done through email and online. When taking delivery of the vehicle remember that they can drop it at your home and leave the key for you in a specific spot. Although dealers are very aware and cleaning the car before delivery, I’d suggest wiping it down yourself. Check out our videos for the spots where germs are hiding.

Most important is to stay home, watch some cool car movies I suggest last week and be patient. There will be deals coming very soon.

Lauren Fix, The Car Coach® is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. Post your comments on Twitter: @LaurenFix or on her Facebook Page.

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While most of us are home as we shelter-in-place, the internet has been where most people are spending their day.
car, deals, coronavirus, pandemic
Friday, 10 April 2020 01:00 PM
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