DETROIT – If you’re in the market for a new car, right now might be the perfect time.
During the coronavirus (COVID-19) pandemic, dealerships have shifted the way cars are sold to online.
Meanwhile, auto plants have been closed, but when they reopen, dealerships will still need to move the 2020 vehicles they haven’t sold as new fleet arrives.
“We’ve got more cars than we’ve ever had, and for us to buy more cars obviously we have to sell them,” said Matt Garchow, with Bill Brown Ford. “It’s a perfect time to buy for sure.”
Some dealerships are currently offering 0 percent financing, while others have rebates available.
However, Michelle Krebs, with AutoTrader.com, warns that the deals may be perceived as greater than they actually are.
“I think the perception in car sales are terrible,” she said. “Are you going to get great deals because they’re desperate? No. They know they have asset and they’ll open up and sell so they’re not desperate. I think people need realistic expectations.”
While the deals might not be the greatest deals you’ll ever find, Garchow noted that leasing during the pandemic may be a smart idea because the payments are low.
If you’re looking to trade in your current ride, though, you might be out of luck. Auctions have halted and dealerships don’t want more vehicles that they need to move.