COVID + Credit: Buying a Car During the COVID-19 Pandemic

Even so, it’s possible to find a reliable used car for a great deal. While it might be an exaggeration to say a new car loses one-third of its value the moment you drive it off the dealer’s lot, it’s true that the steepest decline occurs during the first few years of ownership. Regardless of whether you choose new or used, you’re going to want to get the best possible deal. For example, masks may be required, and you might be unable to take your car of choice for a test drive.

If you buy a used car, at least you’re not paying for that big depreciation. If you buy a car that was previously leased, you’ll probably find it’s Mercedes-benz a-class in kenya in great shape. Not only do you have to choose from a huge range of brands and models, but you also have to decide if you’re going to buy a new or used car and whether you want to buy or lease.

With a little advance preparation, you may be able to make the most of a tough situation and save money on your new purchase. This already challenging process may seem all the more daunting during the Coronavirus/Covid-19 pandemic, as many states have instituted strict social distancing and shelter-in-place procedures to keep residents safe. If you have been affected by a Covid-19-related job loss, furlough or income reduction, you should generally hold off on buying a car — or any large purchase — unless absolutely necessary. Many dealerships currently offer low (even zero percent) interest rates that can save you substantial money over the life of your loan. In most states, mechanics have been deemed essential workers and will still be available to you, even if a stay-at-home order remains in place.

Do as much research as possible online from home, and call your dealership of choice to confirm their procedures so that you’re prepared to follow them. Because the vehicle is older, it could have mechanical issues a new car doesn’t. When buying a used car during the Covid-19 pandemic, it’s generally a good idea to work with a dealership rather than an individual seller, as dealerships are more likely to have procedures in place to keep their vehicles sanitary and safe for customers to purchase. Here’s how: However, if you need a car for essential transportation, or if you’ve simply been lucky enough to avoid an income loss, you may be able to take advantage of financing discounts.

It’s also a good idea to schedule an independent inspection by a mechanic, who can often identify problems that you may have missed. Drivers tend to take good care of their leased vehicles to minimize end-of-lease costs for excess wear and mileage. Buying a used car can be a smart move.

Although Covid-19 may complicate the buying process, it won’t necessarily stop you from obtaining the car you need. Those that do remain open may be operating at a reduced capacity, on a by-appointment-only basis or with rules in place to limit the amount of contact between customer and salesperson. Research the options ahead of time and be considerate of any safety guidelines outlined by your dealership of choice.

While some dealerships remain open, many have moved to online purchasing and touchless delivery in an effort to maintain sales without sacrificing social distancing standards. Buying a used car does come with risks.

COVID + Credit: Buying a Car During the COVID-19 Pandemic


p>After a home, a car is generally the largest purchase most people will make in their lifetime. That makes it an especially important (and sometimes difficult) process. However, in many areas, car dealerships not only remain open but also offer consumers significantly lower-than-normal interest rates in an effort to encourage sales.

A two-year-old car is typically still covered by the manufacturer’s warranty. If you were already shopping for a car before the pandemic hit, or if you just want to take advantage of the significant deals available, here are some things to know.

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