COVID-19 has changed the daily lives of everyone throughout the world. People wear masks wherever they go, staying six feet away from others, and avoiding gatherings when they can. COVID-19 has also changed how people buy cars and may have changed the future of car buying forever. Here are some of the changes to buying cars during the current pandemic.
The Dealership Experience
The dealership experience itself is well-known. You walk into a showroom, see the beautiful new cars on display, before meeting with a salesperson who tries to help you find the best car for you and your family. But it can be stressful, and you can find lots of cars that may be more expensive than your budget allows. Now, because of the pandemic, showroom traffic has slowed dramatically. Sales are still happening in person, with social distancing measures implemented, but it is likely that smaller car dealerships will be the norm in the future as they are better able to meet their customers’ needs. In the meantime, many dealerships have moved their sales online.
Online Sales
Online car sales have grown in popularity during the pandemic, offering customers the opportunity to look at cars in 3D renderings and even call to have them be driven to their house so they can test drive them. These new opportunities make buying a car simpler. This is good news for consumers, because 87% of people hate going to the car dealership. Instead of a stressful situation where customers are anxious to leave and make hasty decisions, they can take their time looking at many different cars before making their official decision.
Used Car Sales
People have been flocking to used car lots during the pandemic, but now may not be the best time to buy a used car. There has been an increase in the number of cars available to purchase pre-owned as rental car companies have returned most of their fleets to used car lots. Used cars are not being offered for incredible deals currently because of the demand for them, though it is expected to normalize in the future.
Much like anything else during these unprecedented times, car buying has changed. Instead of going to a dealership and looking at the cars in the lot, customers can view cars from the comfort of their home, and test driving them at their convenience.
If you want more advice on how to manage your finances during this difficult time, schedule some time with Mike for some help!
