Are you one of the many people who were looking to get into a new or used vehicle this year, before the coronavirus happened?
Now you’re not sure if you should. You have questions.
Firstly, with all the closings, are dealerships even open?
Here at Bryant Motors, the short answer is yes! We’re open and many have instituted changes to make the process safer for our valued customers.
Continue reading for answers to a few more FAQs.
How has Covid-19 impacted car deals?
Many brands in the industry are giving incentives to buyers as well as payment relief during this pandemic. Many of these deals are offering low- to no-interest financing and deferred payments. Some are offering cash-back offers. Remember, these offers only go to customers who qualify for them.
Here are a few of the deals being offered by certain car brands:
- GM is not only offering to defer payments for 3 months for buyers that qualify, but also offering a finance rate of 0 percent for up to 84 months.
- Ford’s “Built to Lend a Hand” program allows qualified new-car buyers to defer up to 3 months of payments while Ford pays for the next 3, providing up to 6 months of payment relief.
- Hyundai is offering to defer up to 4 months of payments on new vehicles as well as offering 0 percent interest on loans.
How can I protect myself when shopping for a car?
First, talk to the dealerships about the safety precautions they’re taking to protect shoppers from the coronavirus, especially for situations like test driving. Some dealerships even offer home delivery options.
Second, do as much of the car buying process as you can online. Here are a few steps you can use to guide your car-buying process using social distancing:
- Shop for financing online. Compare and find your best option and finalize those documents so that your financing is set.
- Do as much research as you can. From vehicle comparisons and safety rankings to reviews, research the features that are most important to you. (Hint: Check out our Car Buying Guide to get started!)
- Contact dealerships. Whether by online chat, email or phone, after checking out online inventories you can now hash out a deal and possibly even finalize the paperwork.
Are cars made in Europe, Korea or China safe to buy?
Per the Centers for Disease Control and Prevention (CDC), this shouldn’t be a concern. The time between a car leaving an Asian or European factory and its arrival at a dealership in America can be several weeks and even months.
The CDC issued the following statement regarding the coronavirus:
“In general, because of poor survivability of these coronaviruses on surfaces, there is likely very low risk of spread from products or packaging that are shipped over a period of days or weeks at ambient temperatures.”
How has this pandemic affected the auto industry overall?
There’s no doubt that the coronavirus outbreak has had a negative impact on automakers and dealers. With there being less venturing out due to stay-home orders, there’s also less need for car purchases at this time. Many people are also putting off the car-buying process as a means of protecting themselves from possible transmission.
With automobile factories shutting down in an effort to curb the spread of the coronavirus, many wonder if this will cause a shortage of some 2020 and 2021 vehicles. Shortages are likely for popular 2020 models. As far as 2021, many automakers have already canceled debuts of these upcoming models.
Many of these auto manufacturers have moved from making cars into making much-needed medical equipment. Face masks and ventilators have been in short supply and the aid of these factories during this time has really made a difference.
We’re living in unprecedented times. Life as we’ve known it is changing. From education to shopping, which includes car shopping, we’re having to adjust to new normals.