May 4, 2020
Is Now A Good Time To Buy A Car? The short answer. Yes.
Right now, auto manufacturers and car dealerships are offering very large incentives on new vehicles. This is to spur sales in response to much lower consumer demand as a result of Covid-19. Many auto manufacture lenders are offering interest rates at 0% interest APR for up to to 84 months. In addition, consumers also have programs available that feature no car payments for up to 6 months. Auto dealerships are also discounting the sale prices of virtually all their in-stock inventory. Consumers are realizing a substantial reduction in both the monthly payments as well as the overall price of the vehicle.
Used car prices are relative to market demand. These prices can be seen by several Used Vehicle pricing tools available on the internet. Kelly Blue Book is considered by many to be the most reliable source of Used Vehicles values. As a result of the current economic situation, used vehicle values on Kelly Blue Book have been lowered by an average of 12%. So, if you’re considering purchasing a used vehicle, now is the time to do it. You’ll get a nicer used car for less money than at the beginning of 2020.
The car buying process is changing. Dealers are moving to a buy online process which helps car buyers do more of the transaction away from the dealership. This process shortens the time needed to be onsite at the dealer. Plus, in the age of Amazon people have grown accustomed to buying online. Many car dealerships now have in place all-new processes in place to maintain social distancing standards and touch-free transactions.