Purchasing a vehicle may be risky right now, especially given the economic uncertainty brought by the pandemic. The unemployment rate is increasing, and there is still no clear end to the pandemic.
Despite the risk, more people want to buy a car so that they can avoid public transportation and keep themselves isolated when going out. And with this demand, auto dealers are forced to implement several changes to make car buying a safer and easier experience for everyone. The most significant change is taking the whole buying experience online. For instance, 93% of Ford dealers offer a completely virtual and contactless buying process.
With this new setup, many customer pain points are eliminated. Here are some reasons now is the right time to buy a car:
Almost Everything Is Virtual Now
During the pre-COVID-19 era, if you wanted to buy a car, you would have to go to your nearest dealership to check your options and have everything explained to you by a sales clerk. This entire process would usually take hours and a lot of patience.
Things are easier now with car dealerships in the e-commerce space. You can simply go to a website, check the car listings, and choose from there. And because different dealers have their inventory posted online, you can also easily compare prices. This makes the research stage of your buying process much easier.
Once you find something you like, you can watch virtual car walkthroughs online to check its condition. And if you have questions, you can just call the dealer or send an email.
You also don’t need to leave the house to settle transactions. If you want to test-drive a car, it will be delivered to you, thus reducing the need to go out.
The purchasing process is also contactless. Documents can be submitted online or via email. Financing can also be done completely online. If papers need to be signed, they can be delivered to your door and picked up after.
And once everything is settled, you can have your car shipped to your address. Or if you prefer, you can do a curbside pickup instead. The contactless experience is much more convenient and time-efficient.
Less Hard Selling
One thing that may throw off car buyers is hard selling. They put so much pressure on buyers. Sometimes, no matter how many times you say no to what a salesperson is offering, they’ll still keep bringing it up.
But now, the entire process of choosing and buying a car is online. If you want to know more about the vehicle you want to buy, you can go to your car dealer’s website. You get to avoid high-pressure sales tactics and make your purchase comfortably.
Car sales declined during the second quarter of 2020. At the time, though some people needed to buy a car, they had to postpone or cancel their plan altogether to prioritize other expenses such as shelter, food, and health care.
To entice people to buy cars again, auto companies are offering amazing deals that seem too good to be true. Some notable ones include deferred payments of up to three months, zero-interest loans for 72 months or less, and zero percent APR for up to 60 months. Some car brands offer purchase discounts for medical workers and sanitation services as a bonus.
Demand for Used Cars
The pandemic affected car manufacturing and logistics. This led to a low supply of brand-new cars. As a result, buyers are more interested in getting used cars instead. Some models of used cars are even worth more now than they were before the pandemic.
If your current car is holding you back from purchasing a new one, you can take advantage of the current demand for used cars, especially if your car still functions well. You’ll probably earn more by selling it rather than breaking down its parts and having them recycled in a nearby WESSCO baler for cash. And you can use this money to fund your new car, too.
The auto industry’s move to e-commerce is a very welcome change for most consumers. It makes the car buying experience much faster and more time-efficient.
These changes are also indicative of how the car industry might evolve in the future. In the past, a person must actually go to a store to purchase a car. Despite technological advancements, the car buying experience heavily relied on face-to-face interactions. But now, the pandemic has shown that the auto industry can also be taken online.