Given the economic disruption caused by the COVID-19 pandemic, along with stay-at-home orders in place across the country, you may be wondering if now is a good time to purchase a vehicle if you’re in the car-buying market.
Here are a few things you should know if you’re considering buying a car during COVID-19:
- Follow safety guidelines.
Although stay-at-home, social distancing and business closure orders have limited dealer operations for the past few months, some dealerships have begun reopening their locations for business. If you are planning on visiting a dealership to purchase a vehicle, it is important that you follow the safety guidelines regarding person-to-person interactions during the COVID-19 health crisis. Medical authorities advise frequent hand washing, mask wearing and social distancing as preventative measures against the coronavirus.
- See what incentives car dealers and manufacturers are offering.
Due to the rapid decline in auto sales in March, many dealers and car manufacturers have been rolling out special incentive offers to attract car buyers. For example, companies like General Motors, Hyundai, Honda, Ford and Mazda are offering special purchase discount programs and/or cash incentives for first responders and health care workers.
- Stay within your budget.
Purchasing a car is a major financial decision for most car buyers, especially in unprecedented times such as this. Before you jump into the car-buying process, make sure you set a feasible budget and stay within your limits.
If you are in the car-buying market and need auto financing to purchase a reliable vehicle, a dealer enrolled in the Credit Acceptance program can help you start your credit approval today!
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