To date, Kia has a 0% financing for 75 months on early models, while Hyundai is giving a no-interest 7-year offer that lets buyers defer payments for 4 months, according to Market Watch. Maybe you have been wondering if the zero percent car financing and deferred payments advertisements on tv and social media are real. Well, as thrilling as it may sound, they actually are. Auto sales have been plummeting since the global pandemic outbreak, and sellers are doing everything possible to make a sale.
So, if you have been thinking, is now the right time to buy a new vehicle? Purchasing a vehicle during lockdown is easier than you can imagine if you follow the right steps. Check out these tips for buying a car during the coronavirus lockdown.
Create a Budget
If you intend to buy a new or used vehicle, you want to be realistic about your travel needs and budget. First, factor in how much you can afford to put on your down payment and monthly installments. Then figure out the car features you want. Also, determine if the fuel economy is essential and how long your daily commute is. When setting up a budget, remember the cost of vehicle ownership entails more than the buying price. Calculate other expenses like car maintenance and repair, insurance, and gas.
Compare Car Models and Prices Online
Amid the coronavirus crisis, shopping for cars online is not a matter of convenience only, but also safeguarding your health. Once you have identified your automobile needs, begin your search online. The internet is overflowing with vehicle reviews from credible car owners and dealerships.
Ideally, you can get more valuable information about cars on websites than in an auto shop. Most dealers have upgraded their websites to enhance the car-buying process. Now you can compare vehicles based on performance, reliability, features, and costs. As a result, selecting the right vehicle will become more manageable and affordable.
Request for a Test Drive
It’s easy to forget the importance of test driving a new vehicle when buying online. Since many auto sellers offer virtual tours, you can get a clear picture of the car interiors and exteriors. However, you won’t get a feel of seat comfort and design. For this reason, ask your dealership to arrange for a test drive.
With movement restrictions, most dealers are willing to bring a car to your home. They will not only adhere to social distancing rules but also disinfect the vehicle before you can use it to eliminate any virus or bacteria. You will test drive the car within a specified timeframe and then leave it outside your house for the dealer to pick up.
After evaluating the car’s performance, determine whether it is a perfect fit. If it meets your needs, do a thorough search on vehicle pricing one more time. That way, you will be confident when negotiating for a better deal with dealerships via email, call, or text. While you may have to sign paperwork online, some states require car buyers to sign physically.