Is This The Best Time to Buy a Car? Experts Say Yes.
Buying a car during the worst pandemic in 100 years might seem a little crazy but it's actually a good time to do it. Unlike cleaning product companies, hand sanitizer bottles, toilet paper distributors, and home swimming pool manufacturers, many businesses are hurting right now, including the auto industry. According to Yahoo Finance guru Rick Newman, April sales were down 46 percent. That equates to a 50 year low.
This can be a boon for people looking for a new set of wheels, with some experts claiming it the bast time in years. Dealers are willing to go the extra mile and beyond to make a sale. You may have noticed that companies like Carvana have ramped up their advertising illustrating a "safer and better" way to buy a car bringing it to your driveway after the online purchase. So much for kicking the tires.
Many local dealers offer delivery too and have increased their digital presence.
"I think it’s going to change the car business forever. We’re doing Internet, email, texting, Zoom meetings, bringing cars to people's homes. We always want to make an appointment in person, but now we’re changing our mindset." ~ Alex Flores, general manager of Capitol Chevrolet in Austin, Texas
It never hurts to shop around. So if you've been hanging on to that stimulus check, it might make good financial sense to use it for a down payment if you can get a steal.