Hi brandon hardison, spokesperson for shop, smart autos and president of champion strategies with our ongoing series of giving you the consumers, some ideas and tips when it comes to your next automotive purchase.
Sometimes we just give you generals of what’s happening in the retail world as this new normal with this corona virus is attacking, delaying and eliminating a whole lot of your favorite retail stores.
So, let’s get to it we’re going to go back into automobiles per se and for today a question that came up is now a good time to lease a vehicle.
Well, there’s no simple answer: whether now is a good time to lease a car.
Yes, there are many, that’s have some great lease deals that are announced and you’ll be hearing more over the coming months.
Uh automakers and their dealers do whatever they can to bolster sales and retain current lease customers.
Some manufacturers, including honda chevrolet, have rolled out zero down lease deals on select models, but do you know what a lease really is? Maybe you need to research it more, but basically, at least is a contract between you and the leasing company that is difficult to serve.
If you lose your job and can’t make your payments unless your job is on a rock solid footing, you should not lease a car until the economy is back on track with the car purchase, you can sell the vehicle if you need to satisfy the loan.
The same is not true in leasing defaulting on a lease can destroy your credit for years, making it impossible to lease another car and more expensive to buy that next.
One many automakers offer current lease extensions for many customers to get them through the worst of this pandemic.
When those extensions end, however, auto automakers, who likely roll out aggressive deals to retain the least customers and attract those from other brands, may have expiring leases.
Those deals may be short-lived, however, so, with that said, you may be thinking.
Well is now a good time to buy a used car, i’m still in the market, even though i have this pandemic to get a vehicle.
Now, with that, it’s okay, it’s a great time to buy a used car, but not as good as it was earlier in the pandemic, crisis used car prices are starting to rebound strongly from their extreme lows and are now at or above pre-virus levels.
Now this is according to many sources like jd power, with many households being bringing in less money than before, and consumers skipping mass transit for their virus protected safety of private automobiles.
The demand for used cars is just going up now.
Fortunately, the flow of used cars into dealers has largely returned to normal, and pinned up demand is slacking if there continues on their current trends that we see, prices should be near the same level as it was last year now.
They do, however, expect continue.
Growth and outbreaks of all kinds of enjoyment in your favor, meaning that the market for used cars are going to be there in short, layman’s terms.
Now, since many leases could not return their cars in march and early april as planned, those cars are entering the used car market as planned and they put an additional downward pressure on used car prices.
There are many good reasons to buy used cars now now topping the list naturally is going to be priced used.
Cars are much cheaper than news cars and their lower prices lead to smaller, more affordable loan and less chance for you to be underwater on your financing.
Many automakers are offering attractive low interest financing deals available on the purchases of certified pre-owned.
We’ve talked about certified pre-owned before all the value that it brings a certified used.
Car is typically getting used models that are relatively young age-wise with very few miles on the o’donomo and zero percent.
Financing deals are available plus a certified pre-owned has what i call that piece of mind.
You can’t get it on a new.
You can’t get it on.
Just to use – and what do i mean by that, if something happens to your certified pre-owned vehicle and you and your family are out on a trip going from one state to another.
Just take it to that manufacturer that you represent, whether it’s a honda or kia and if they need to keep the vehicle a little longer to fix it.
You qualify for a lease.
They put you up in a hotel, they’ll feed your family and it’s not a one-shot deal.
It’s for the duration of that certification.
As long as that vehicle is certified, you can continue to use that piece time and time and time again you can’t do that on any other used car, so certified pre-owned.
I am a big proponent of it now later in the summer.
We know that august is here and winding down.
The economy should pick up a little bit more greater than normal demand is expected for cheaper cars with prices under ten thousand dollars, and surveys are showing that they’re gearing up for that now.
Young consumers who have relied on ride companies like lyft and uber may be bypassing shared vehicles and looking for what they consider to be a safer opportunity option so use cars.
Yes, if you need to buy a vehicle now, let’s look at a used car if you’re.
Looking at new cars – and you were considering a lease – maybe let’s make sure that our job is pretty solid before we look at police now.
If some of this makes sense – and i hope it does always come back again and we’ll be glad to give you some more information once again – brad and hardison, spokesperson for shop, smart, autos and president of champion strategies, as always in parting – you go out and make It a champion .