Like many of you, I am almost at the end of my vehicle lease and wondering what I should do, so I decided to do some research on how the COVID-19 pandemic is affecting car sales. I have the option to buy or lease another vehicle or buy my current vehicle. My initial goal was to buy my vehicle at the end of the lease term, but now I am not so sure. My lease is up in August and with COVID-19 it is making it difficult to shop for a new vehicle while following shelter in place restrictions. Some financial institutions are allowing for an extension of your current lease, deferred payments, etc. A good place to start is to reach out to your financial institution to find out what options you may have so you can make a more informed decision
In my research I also learned if you do your “looking” online, and find something you like, some dealers will allow you to make an appointment to take a closer look at the vehicle you may be considering. If you don’t feel the need to be that up close and personal to a new vehicle, many dealers are offering to bring the car to you as well as advertising delayed payments and other incentives.
Since most of us have more time to look, it makes sense to check out all of the deals and then make the best personal choice for you. In my situation, I need to see, feel, touch and drive my next new vehicle, so I am going to wait until I have the opportunity to do so safely. At least that is what I am thinking…
I am also thinking (maybe wishfully so) that new vehicle pricing should be better than ever before. Afterall, plants in the US are either shut down or production has been slowed down which means the dealers are sitting with a lot of inventory which may give some of us the advantage of getting more car for the buck.
What does this mean for your getting your vehicle fixed?
COVID-19 and shelter in place orders have placed restrictions on imported parts and products. Here in Ohio automotive repair shops have been designated an essential business and are open. So what can you do to protect yourself from COVID-19 if your vehicle needs service? Service shops are required to follow the same social distancing and disinfecting guidelines as grocery stores and other essential businesses.
Here are some helpful tips:
- Call your dealership or service shop and ask before you go in about what precautions they take to protect its consumers and employees from spreading the virus. They should have a plan in place.
- Check the hours the dealership or service center is open. Many have set special hours and are not opened as long.
- Clean your vehicle using any of the approved virus fighting cleansers that are safe for your vehicle’s interior before and after dropping your vehicle off.
- Looking to buy or lease a new car. Check out the models online that are available at your local dealership. Some are still offering test drives or contactless delivery to your home. Check with your local dealership.
Whether you want to buy, sell, lease, or have repairs made to your vehicle, please follow the CDC’s guidelines and treat the facilities like any public space.
If you have questions to whether or not your vehicle qualifies as a lemon we are here to help answer your questions.
