Helpful tips for buying a car during the Pandemic

Automobile sales are now allowed across the country, as the stay-at-home orders have been lifted. Here are some helpful tips to consider while you navigate the"new normal".

Financing Offers

Several automakers, including Ford, Fiat, Chrysler, and General Motors, have already rolled out long-term zero percent financing offers. Many automakers are offering payment deferral programs, so you won’t have to start paying for your car until several months after you’ve taken delivery. You can already take advantage of several generous financing deals, and there will likely be many more in the coming months. Some automakers, including Chevrolet and Buick, are offering zero percent financing deals for as long as seven years. Taking advantage of a car deal can save you thousands of dollars off the cost of the vehicle, or dramatically reduce the amount of interest you have to pay on your car loan. Ford is offering a deal where they pay three months of car payments for buyers, and defer three more months of payments.

Deferred Payments offered

Many carmakers are offering to defer payments for as many as 180 days, depending on the manufacturer. A loan payment deferral program allows buyers to put off making the first payments on their loans, with no late fees and no negative impact on their credit. 

Hyundai is going a step further than just offering deferrals. They have brought back their job-loss protection program, which will pay for as many as six payments for buyers who lose their job due to the coronavirus pandemic. Volkswagen has announced a similar program for new car buyers.

Deals for first responders and Medical Professionals

General Motors, Hyundai, Honda, and others have expanded their first responder lease and purchase discount programs to include health care workers. Ford just introduced a $500 bonus cash incentive for first responders and medical professionals. Through the beginning of June, Mazda dealers are offering hospital workers a free oil change, whether they’re driving a Mazda vehicle or not. Many Mazda dealers are offering healthcare workers $500 off the price of a new car. 

The used car market

Many automakers are offering attractive low-interest financing deals available on the purchase of certified pre-owned cars. A certified used car is typically a gently used model that’s relatively young, with few miles on the odometer. There are even zero percent financing deals available, which are very rare in the used car market.

It's been predicted that later in the summer, as the economy begins to pick up, there will likely be greater-than-normal demand for cheap used cars with prices under $10,000. Surveys are showing that many commuters will be skipping mass transit and will require cars for their daily commutes.

The fundamentals of smart car buying remain the same

You want to cast a wide net by seeking prices from multiple dealerships, negotiate the car’s price, and take advantage of purchase and lease incentives offered by automakers. Once you have an idea about the car you want, you can start contacting the internet sales department of dealerships. You can see their inventory online and negotiate the price of a vehicle by email or phone. If you agree on a deal, most of the the dealership can send you the paperwork for electronic signing or have it ready so you can minimize or even eliminate your time in the showroom. Most are finding that the process was very easy as well as convenient.

Explore Home Delivery Options

One way to avoid going out is to take advantage of a dealership’s home delivery option. Not all dealerships will deliver directly to your home, but it’s a good idea to ask if it’s possible. Though not all locations participate, many Chevrolet, Buick, GMC, and Cadillac dealers will deliver cars to your home or office through GM’s “Shop. Click. Drive.” program. Ford has announced that more than 75% of their dealers are now able to deliver vehicles to your door.

What to Do if Your Car Lease Is Expiring During the Coronavirus Pandemic?

If your lease is nearing its end, you will want to contact your leasing company to discuss your options. Different automakers are offering varying strategies to deal with lease returns during this time. Some will come to your house to pick up the car. Consumer Reports has some advice. “Not everyone is going to be comfortable starting a new lease right now, so we suggest reaching out to the dealer; many are waiving fees on lease extensions, so you can stay in the car you’re familiar with for the next few months.” If you’re stuck at home during the pandemic, you can use the time to research your next car, look for lease deals and start contacting dealers to find the best offer. A growing number of dealerships can deliver cars right to your home. 

Can You Extend Your Car Lease as a Result of the Coronavirus?

Many automakers are offering lease extensions to get customers through the worst of the pandemic. Jaguar and Land Rover, for example, will extend leases for as long as six months. If you opt for an extension, it’s critical you discuss whether your mileage cap will be increased or whether you’ll be subject to the original limit. Through this due diligence, you can manage your driving and avoid excess mileage fees.

General Motors will automatically extend your lease for one month if you do not return your vehicle within 10 days of your original termination date. The extension does not add any miles to your mileage allowance.

Many Leasing Companies Are Deferring Payments 

If you’re one of the millions of employees who’ve suddenly found themselves with no job or drastically cut hours, the thought of making a lease payment is probably stressing you out. Fortunately, the majority of automakers, and their leasing arms, are deferring payments on current leases. It’s essential that you reach out to your leasing company before you miss a payment. Doing so will help protect your credit score, save you from a late fee, and give your leasing company an opportunity to help. It’s more difficult for them to help you when you’re already behind on your payments. Different carmakers and leasing companies are offering varying amounts of payment relief.

Want Leather, On A Budget? Consider Adding It At The Dealership

A lot of people want leather seats in their new car. For those who want leather without having to pay for the premium or upgraded trim level, there is a solution. You can add aftermarket leather seats to any car at the dealership. 97% of consumers don't know a leather interior option exists for cars with cloth seats. You can even finance this into your loan at the time of purchase. You can also add heating and cooled seats when you have your leather installed, which is an added bonus. Make sure to discuss this with your sales rep when you are looking at purchasing your vehicle.

Aftermarket leather seats are often identical to or better than factory-installed leather seats in terms of look, fit, and durability. Many factory leather seats use vinyl backers or low-grade leather, while most aftermarket kits are 100% leather and are good quality. It also comes backed with a national 3 year/36,000-mile warranty and a guarantee that your leather seats will meet or exceed the fit and finish of a factory leather interior!

Want to see what your new car would look like with leather? Katzkin has a really cool app you can download to your phone. It allows you to select the leather options that would look good in your vehicle by simply putting in the year, make and model. If you’re looking for a more unique look than standard leather seats, you can opt for custom leather seats with particular color schemes and custom stitched logos. It’s inexpensive to add customization to aftermarket leather seats. If you need assistance on how to download or maneuver through the app, please feel free to drop me a line and I would be more than happy to help you! It's a great tool.

Buy in confidence and buy where the dealers buy!

Last But Not Least, Protect Your Investment

XPEL Ultimate Plus / Clear Bra Self Healing Paint Protection has a high gloss mirror smooth finish and protects your paint against rock chips, scratches, and more. This film is completely transparent and is safe on your paint. It will never yellow or peel! Built to last, has impact protection and backed by a 10 year warranty. Give us a call to add paint chip protection to keep your car looking brand new.

Check out this cool video of the GT350 we did PPF on.

I hope the car buying process goes well, stay safe, and if you've bought a car during this unprecedented shutdown, message me on how it went. I would love to hear!