Car buying and leasing in the age of Coronavirus

With the advent of COVID-19, and the resulting social distancing and shelter-in-place recommendations, the automotive landscape has been shifting dramatically in the past weeks, days and even hours.

At Cartelligent, we help Californians have a great experience buying or leasing any new car. As we help our clients navigate their personal car situation during this difficult time, we wanted to share some of the questions we’re hearing and the answers that we’ve been giving.

We will be updating this article on a regular basis during the shelter-in-place, because many of the answers will be changing with time.

My lease is ending soon—what are my options?

If your lease is ending soon and you want to replace the car, you have two options available to you:

  • Extend your lease: Most banks will offer you the option to extend your lease month to month at no additional charge; some are also offering payment waivers. (You may need to pay your DMV registration if you choose either option.) Your Cartelligent advisor can help get the car you want (or place a special order) to arrive at the end of your lease extension.
  • Have your new car delivered to your home: We are working with a number of dealerships who have instituted no-contact, touch-free delivery. Please note that options will vary based on where you live.

I want a new car, but I’m worried that inventory may be affected by plant closures.

Many manufacturers are temporarily closing plants or retooling them to make medical supplies at this time. This could result in some inventory shortages when the shelter-in-place is over. Your Cartelligent advisor can help you secure existing inventory.

Cartelligent can also help you special order the exact car you want to ensure you get a great deal without making compromises on colors and options.

I want a new car, but I think deals may improve in the weeks to come.

We’re already seeing better deals on a number of cars that are in good supply now. However, the limited supply from factory closures may drive up pricing on high-demand models in the weeks to come. Talk to your Cartelligent advisor about the specific model you’re looking for and what we’re seeing in the market.

I want a new car, but I’m concerned about the economy.

Many brands are offering low interest loans and leases right now; a number are also offering deferred payments for new and current owners and lessees to help during this unprecedented time. Your Cartelligent agent can help you understand what we’re seeing the market, and which manufacturers are offering payment waivers and additional incentives.

I’d like to sell my current car, but I want to minimize my exposure.

We offer a stand-alone service that allows you to fill out a few questions about your car online. We’ll make you an offer based on its current value that’s typically more than you would get at a dealership.

I’m not ready to get a new car at this time.

We can understand and respect that decision. If you’re in California we hope you’ll consider our service the next time you’re thinking about buying or leasing a new car.

Remember best safety practices:

If you interact with a new car or a delivery person in any way, please remember to follow best safety procedures—wipe down any surfaces that the other person has touched before you touch them, use your own pen for signings, and always wash your hands after contact with anyone or anything that has been outside.

 

No matter what car decisions you’re considering, the Cartelligent team is here to help. Call our team of car-buying experts at 888-427-4270 or get started today.