Life is a lot different today than it was before the pandemic began, and that includes car shopping – something many people are doing right now. If you happen to be one of them, you might not even know where to start. Unfortunately, things are rapidly changing, and no one can foresee the extent of the effect this virus will have on our life or on the economy. While some buyers are stable enough to take on a purchase, auto manufacturers are loosening payment terms and loans to encourage them to buy; we suggest considering your current situation carefully before making a deal.
However, suppose you’ve decided that now is the right time to make a purchase. In that case, this small guide will offer you what you need to consider if you are planning on buying a car now, including all the information you need to know about how car-buying is affected by the new lockdown conditions adopted on 5th of November 2024.
Make a List of Priorities
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We believe that everyone should be looking for a car that has an excellent maintenance track record.
Certainly, there are a few exceptions. If you happen to be at a certain point in your life where cars can be considered a tremendous expense, go ahead and purchase the Maserati that requires maintenance every month. If that’s how you enjoy spending your income, embrace it.
However, most of us would rather enjoy a car that will keep us out of the mechanic shop.
After that, your lifestyle is the most decisive factor. Here’s a few things that could be hard requirements for you:
- Kids: This whether you like it or not, will require the extra space from an SUV or a minivan.
- Snowy weather: If you love driving in the snowy mountains of Colorado then an AWD or a 4×4 is a requirement.
- Cargo space for dogs: If your dog happens to be a 200lb Saint Bernand, having easy accessibility and enough space for him is another hard necessity for you.
- Electric: If your neighbourhood is equipped with an electric charging station, then you could make the jump to an electric vehicle.
- Gas mileage: Do you drive often but your budget can’t keep with you? Then get one with gas mileage. You can easily reduce your monthly gas expenses in half by choosing the right vehicle.
- Camping and other activities: If your life is all about adventure then make sure you get enough clearance to handle obstacles and bumpy roads.
We strongly advise you to avoid picking out a showy brand just for the sale of having one. Some buyers may truly want that new BMV. However, if a brand-new BMW truly makes your life delightful and its part of your rich life, find a way to make it work. The thing is that many of us get absorbed into believing that we should avail ourselves of luxury cars when we don’t. Every buck you spend on a new car is one extra buck that could be spent on an area of your life that truly brings you joy.
Act Fast and Be Flexible
Source: 66kia.com
Indeed, you can shop around for a good Kia dealership like bobsightkia.com, but time is of the essence here. Suppose you have a specific idea of what you need or want, and you find a shop offering an apparently fair or competitive price. You’d typically want to shop around and study the local market a bit more before deciding.
What you should probably know is that it’s in your own best interests to get more time when you come across things like this. But that’s not the best solution either. There have been a few instances when shoppers refused a deal only to wait for a better bid. But since cheaper offers don’t come that often, the original car can be sold really fast.
Now that you’re about to spend your hard-earned money on a brand-new car, you will need one that marks all your boxes. If you happen to be more flexible about what you want, there’s a great chance to find a bid that will better fit your tastes.
But it might be worth knowing that if you are willing to consider similar cars across various brands, you could very well end up going home with a better price.
Buying vs Leasing
Source: financechampions.com
Probably you’ve heard it millions of times already, but it’s worth repeating: Leasing is always a terrible idea. The smartest move is to buy a vehicle, keep it for 7-10 years and then buy another since that’s how you get the most value out of a car.
Car leasing can only be necessary for you if:
- You enjoy a new car every couple of years. This is an important aspect of your rich life, and you’d happily reduce costs in other areas of your life to support this.
- Your budget is strong enough to pull this off.
Mostly, you have both a genuine desire and means to drive a new vehicle regularly. And since you will be swapping around cars more often, leasing can be a good option for you. It doesn’t matter that it will be pricier than actually buying and owning for ten years now you have made the deliberate decision that it’s worth it.
Be patient
During an uncertain time, patience is a necessary virtue. Major dealerships pointed out that as factories and assembling factories re-open, production could catch up by late summer or early fall. This surge in inventory means that there will be more for us to choose from – both in terms of deals and cars.
As we know, most auto brands will increase rebates in late summer to help sell out the older models. And, since the timetable may get hindered with current production delays. If buyers aren’t finding what they want at a price that makes sense, often the situation will mean the deal will get better or stay the same. Fortunately, what we understand is that they aren’t likely to get worse.
