To buy a car or… Not to buy?
During this time of uncertainty surrounding COVID-19, at MATS.org we remain certain of our hope in Christ. We’d like to address some likely concerns surrounding the COVID-19 outbreak, and hope to provide helpful answers to questions that are being asked like:
- Is it a good time to buy a car during the Coronavirus outbreak?
- Is it safe to buy a car right now?
- How will Coronavirus affect car sales/prices now and later this year?
1 – Is It a good time to buy a car?
Many people are wondering if it is a good time to buy a car during Coronavirus. The federal Department of Homeland Security this week included vehicle service businesses on its list of essential infrastructure to support needed services and mobility in their communities. This means that most dealerships and service shops will remain open. Research done by U.S. News suggests “The fear of the coronavirus should not stop you from buying a car”. We agree as long as you do not have long term concerns about your employment or contribute to the spread of Coronavirus.
It’s important to start by acknowledging that this pandemic has affected most U.S. businesses and nonprofits. The loss of jobs and layoffs is real. If your employment is at risk, you should consider avoiding putting yourself in a cash crunch, and it might make sense to wait before deciding to make a purchase.
If you decide to buy a car, it’s important that you protect yourself and prevent the disease spread.
2 – Is it safe to buy a car?
Unlike the standard dealer, MATS.org is poised to help with a car purchase like no dealer can. Our over-the-phone model keeps you safe at home so you can avoid commuting. In addition to our over-the-phone model, we deliver right to your driveway, keeping you safely at home.
We’re also taking many precautions to prevent the spread of the Coronavirus among customers and employees. Some of these precautions include:
- Sanitizing all vehicles inside and out
- Sanitizing common spaces like car/office doors and handles, steering wheels, etc.
- Sanitizing our entire sales, marketing, and reconditioning facilities
- Adding hand sanitizers in multiple office areas
- Instructing our in-the-field team members on social distance and sanitation practices
3 – What about car prices and shortages today and later this year?
There are experts on both sides of this; some think now is the time to buy while some say wait.
Here is our take at MATS.org:
Currently the wholesale car market is stable with an almost unnoticeable decrease in cost. With the retail market stagnant, there is not enough information to know if this slight decrease on the wholesale side has had any impact on retail sales prices. Experts agree that it is too early to judge. Many car and part manufacturers have stopped production which may mean a shortage later this year. There are also signs that interest rates are decreasing across the market. The combination of potential shortages later this year, stable market prices today, and lower interest rates causes us to believe it is a good time to buy as long as your employment situation is stable. This is not necessarily because there are killer deals (although there might be), but because of the possibility of increased prices later this year and current excellent rates on borrowed money.
At MATS.org, we are taking the spread of COVID-19 very seriously. We are taking extra measures to protect our customers as well as our employees during this time. Our model is ideal and now the safest way to buy the right car during this unprecedented time. We’re here to offer no-pressure answers to all your question. Call now or fill out this form and one of our car buying specialists will be in touch.