Should You Buy During the Pandemic?

[Dadhawk]

if the question is should you buy in general, yes this is a good time to buy, I just don't know about the 86 specifically.

I ran to Lowe's (home improvement store for those not familiar) on Saturday and out of the 30 vehicles in the 5 of them were new Silverados with temporary tags on them. People are jumping on the 0% for 80+ months and the current discount offers. I've seen as much as $15,000 below sticker.

[Tcoat]

Originally Posted by Dadhawk

if the question is should you buy in general, yes this is a good time to buy, I just don't know about the 86 specifically.

I ran to Lowe's (home improvement store for those not familiar) on Saturday and out of the 30 vehicles in the 5 of them were new Silverados with temporary tags on them. People are jumping on the 0% for 80+ months and the current discount offers. I've seen as much as $15,000 below sticker.

Ford Canada is offering 3 months they pay and 3 months deferred payments right now. You can buy a truck today and not pay a cent until September. The loan rates are dropping a couple of points a week as well. FCA has started Ram ads countering the Ford ones but they haven't really said what the deal is beyond "contact us online". Haven't heard from GM yet.

[Impureclient]

Business is still booming for me. If I was in the market, I'd wait a little more until they get real desperate and take advantage of them like they usually do to us.

[Dadhawk]

Originally Posted by Tcoat

Ford Canada is offering 3 months they pay and 3 months deferred payments right now. You can buy a truck today and not pay a cent until September. The loan rates are dropping a couple of points a week as well. FCA has started Ram ads countering the Ford ones but they haven't really said what the deal is beyond "contact us online". Haven't heard from GM yet.

Yea GM/US has the 3 month delayed payment on top of the 0% on trucks as well.

Looking at chevrolet.ca it looks like they have lease deals on most things, 1.9% for 24 months on Silverado and 0% for 60 Months on the Colorado.

[new2subaru]

I'm talking to a Dealership about a new Supra. They say no test drives. I have a feeling that will change very soon...

[soundman98]

Originally Posted by new2subaru

I'm talking to a Dealership about a new Supra. They say no test drives. I have a feeling that will change very soon...

it's taken a global disaster for dealerships to finally start to acknowledge the internet, and that's been around for a long time now...

don't get your hopes up.

[new2subaru]

Originally Posted by soundman98

it's taken a global disaster for dealerships to finally start to acknowledge the internet, and that's been around for a long time now...

don't get your hopes up.

Now I'm starting to wonder if that's for ALL cars during this Pandemic...I'll take another look

[Atmo]

Originally Posted by conehead

It will probably be in a month or two. Right now already built cars are still being delivered and piling up while most people are taking financially defensive measures and not taking on new debt. There could actually be a supply pinch later on though, since many factories have actually shut down and take time to come back on line.


If you have a comfortable amount of cash on hand, this summer will be a good time to exchange it for something else before the inflation caused by printing $2TRILLION in extra money starts to show up.

Nailed it. Check manufacturer's sites for the latest incentives on the 1st-3rd of the month. I expect deep discounts on Toyota/Lexus starting this Wednesday through at least August before inflated 2021 MY pricing might appear. We'll know on the Toyota side when Supra 4 and RAV4 Prime pricing is announced in June.

[NWFRS]

I'd be hesitant to make big purchases until we see the peak of this outbreak. But that's just me. Having liquid assets gives us options. No one really knows how bad it's going to get yet. Just my two cents.

[Sasquachulator]

Originally Posted by soundman98

normal is going to take a very, very long time. like 1-2 years in the best case scenario.

yeah true, im more thinking it'll be normal as in i can actually go out and wander showrooms and test drive cars and stuff instead of being stuck indoors during quarantine/lockdown.

[alan.chalkley]

With so many people losing their jobs , demand has to go down , people will have trouble paying off loans , there might be more used cars for sale and prices might be lower.

[Tcoat]

Originally Posted by alan.chalkley

With so many people losing their jobs , demand has to go down , people will have trouble paying off loans , there might be more used cars for sale and prices might be lower.

Or the reverse will happen and people will hold onto their used cars much longer and this will drive prices on them up. That is what happened during the early 80s and 2008 recessions.

[Atmo]

Originally Posted by alan.chalkley

With so many people losing their jobs , demand has to go down , people will have trouble paying off loans , there might be more used cars for sale and prices might be lower.

I can see that happening initially as those who choose or are forced to cut back expenses ditch their newer vehicles.

Originally Posted by Tcoat

Or the reverse will happen and people will hold onto their used cars much longer and this will drive prices on them up. That is what happened during the early 80s and 2008 recessions.

Also likely once the temporary oversupply of new vehicles ends. The average age of the US fleet has increased steadily for years. Shows just how good, safe, efficient and clean the new stuff is. Affordability? That's another question.

https://www.bts.gov/content/average-...-united-states

[Tcoat]

Originally Posted by Atmo

I can see that happening initially as those who choose or are forced to cut back expenses ditch their newer vehicles.



Also likely once the temporary oversupply of new vehicles ends. The average age of the US fleet has increased steadily for years. Shows just how good, safe, efficient and clean the new stuff is. Affordability? That's another question.

https://www.bts.gov/content/average-...-united-states

It will be interesting to see how the banks, finance companies and automotive in house financing divisions deal with the number of people that can't pay. They are not going to want to suddenly own a whole pile of used vehicles any more than people are going to want to give them up. Much more likely that they will make concessions and deferments to keep people in them. It hasn't come to that yet but like so many other "normal" rules I bet they make some sort of new plan up.