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blog large image - Buying a car in the COVID market

Buying a car in the COVID market

If you’re looking to purchase a car at this current time, you may have seen the increase in value of older models of vehicles which is related to the shortage of new vehicles entering the market during the impacts of the COVID-19 global pandemic.

Temporary automotive industry factory closures, global supply chain interruptions, border closures and restrictions on imports and exports have led to delays in the delivery of some new vehicles. 

Knowledge is power and the more you know the better you go. So, we’ve put together a list of things to think about before making a purchase in this current market. 

 

Research: 

Vehicle salespeople are experts when it comes to cars and can provide specialist advice as to which vehicle best suits your needs and your budget. High-pressure selling is largely a thing of the past – sales staff are now charged with building a relationship with buyers for the long term because want you to get the right car for them and have a good experience so you return to their business. 

As a family run business, Armstrong’s understand the stress and strain that is put on families when making a big purchase decision. Hence why they have a knowledgeable staff that provides you with all the information needed to make a decision. 

 

Go to a trustworthy dealership: 

If you do decide to purchase a car privately through an online marketplace or something similar, there is a risk of being lied to or taken advantage of. You don’t know if the vehicle’s condition or maintenance history is as accurate as the seller would have you believe.

The benefit of buying through a dealership instead of buying directly from the seller means that you have a piece of mind that the business you are buying from has done their due diligence and has fairly evaluated the vehicle and not putting a ridiculous price tag on the vehicle. 

 

Vehicle Trade-In and Financing: 

Almost all dealers will take trade-ins, allowing you to drive in and out on the same day you pick up your new car. If you have money owing on your current vehicle they make the changeover process simple, without expensive bridging loans. Contrary to popular belief, many dealers will pay top dollar for your trade vehicle, particularly if the model is sought after and in good condition.

If you are currently driving a car that has no major issues or is unsafe. Perhaps you would really like a new car that is on a waitlist, do you have the option of continuing to drive your current vehicle and putting in an order for the new vehicle with a little as 10% deposit and then pay the remainder when you collect the vehicle. 


 Warranty:

A massive benefit of purchasing from a dealer is the warranty that usually comes with a new car purchase. A warranty ensures that if there are any defective parts within the limits of the warranty it won’t be at your cost. 

For used vechicles, most non-commercial vehicles purchased from a licensed motor dealer less than 10 years of age and with less than 160,000km on the clock are provided with a statutory warranty. The terms and conditions of this warranty vary from state to state. In addition, many licensed motor dealers can assist with extended warranties for your vehicle purchase for up to five years from the date of delivery. 


Test Drive:

Take advantage of the that many dealerships keep a demo model in stock at all times. So even if there is a wait time until delivery, you know how it feels to drive the car. 

If you are planning on purchasing a specific vehicle and want to take the car for an extended period of time, talk to the dealership salesperson about the option of taking the vehicle overnight or over a weekend. 

If/when the market comes back after COVID you do not want to be stuck with a car you aren’t happy with. Make sure you are getting a vehicle that ticks all your boxes.