Should I Buy a Car During the Coronavirus Pandemic? | Episode 7

What vehicle are you interested in?

Last updated Apr 25, 2023

Negotiating tips, money-saving tricks, and car buying advice from CarEdge team of experts: https://caredge.com/guides/

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Today on Auto Insider, Ray and Zach discuss what you need to know about buying a car during the Covid-19 pandemic. Ray explains what manufacturer incentives are in place to help dealerships sell more cars, and why prices are so high right now (supply is low).

If you’re looking to buy a car right now you may want to think twice. There are a lot of car buyers in the market right now, and with a shortage of new cars, prices have gone up considerably.

Ray also discusses his take on private party purchase versus going to the dealership. 

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1 Comment

  1. Benjamin Joseph Freeman

    Well actually I’m considering selling my current car and buying another car. But is it really a good time to be doing that?

    Part of my personal “ledge” is I’m a 1099 employee have been for a year this latest stint. This isn’t the first time over the past 7 years I’ve been a contractor 3 times.

    That’s always a risk going into the purchase. Now back in May I saw a great year end model car that I really loved. But I knew I was upside down on my current car though I didn’t think the dealer would lowball my by $7k maybe $4k. That killed it for me even before I even looked at any of the typical piece of paper you know the one with the cross in the middle where they put a piece of info about the “deal” in each of the 4 parts and tell you this is what we can do. When in reality it’s what they need you to pay. I of course walked out. Because if they run a ad for a payment at $499/mo I’m not doing their deal of $845/mo just so they can double dip their profit. Once on the trade in because there either taking it to auction at $12k profitability of $2k and the built in profit on the new one.

    Especially when KBB on mine on trade in is $12,500.

    Now today my KBB trade in number on mine is $13,250. Sure I need to polish it up and sell it privately which i have an add out. But the question you posted is. Is it a good time to sell and/buy? Because COVID seems to be a rough time?

    Reply

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