How to Save Money on a Used Car During the Pandemic

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It feels very challenging to purchase a used car in a pandemic. However, many people do not realize that this is the best time to grab a valuable deal due to the economic turbulence. Online car shopping websites like CarSwitch are best for virtual purchasing. If you want to buy used cars for sale in Dubai, visit the CarSwitch website.

With the economy facing uncertainty and the government facing a crisis, the best automotive purchase would be a Certified Pre-Owned (CPO) or a used car. These are great alternatives to a new car as you can save money. 

Whether you were already shopping for a new car before the global COVID-19 hit, or your situation has changed recently and you suddenly have to buy a car, as a buyer, you need to know all your available options. More importantly, you need to know how to do business with each option. This article will help you with this matter.

Is this a good time to buy a car?

Definitely, it is. As most businesses are shut down and buyers are bound to home, online car shopping websites and dealerships think it’s their time to shine. This can mean huge savings for consumers initially, but the longer these economic disturbances last, the less decent used cars will be available in the market.

Where can I purchase a used car?

Although it is true that some places have demanded the sales departments of the dealerships to close or to lower their working hours, the majority of them have shifted to an online shopping platform. Most dealerships previously boasted an internet sales department which is visible through their official website or phone. If you are purchasing any used car the CarSwitch is the best platform for you to purchase any used car.

Read More: How to Save Money on Used Car Financing in Dubai

Can I negotiate?

Certainly! Just how you used to buy cars in non-pandemic times, all automotive sales undergo negotiations, especially used cars. But fortunately, shoppers have an upper hand due to the pandemic. Consumers can use this fact to their advantage. 

Both sales and customers are coming in slow at the dealerships, similar to the online car shopping websites. The most important thing is to walk away from a deal that does not satisfy you. You should never be forced to make a decision at the last minute. It is advised to take as much time as you need when it comes to huge purchases, even if you are in dire need of a car.

Can I finance a used car at this time?

You bet! This is possible because banks do not have limited lending due to COVID-19 but their rates might be a tad bit higher as compared to normal days. The best advice when it comes to financing an automotive purchase is to arrange the loans prior to negotiating with the seller, especially if you are buying from a dealership. 

This will allow you to understand the amount of money you can afford to splurge. Moreover, it also stops the dealership from gaining the upper hand by lending you money at a higher rate as compared to what you could get on your own. 

To know the interest rate and loan terms of your bank, see it online or communicate with them on the phone or the local credit union. 

After gathering this information, use it to make decisions. However, it’s fine to allow the dealer’s finance manager to run your credit and guide you to find a loan. It is possible that another lender can offer you a better rate than your credit union or bank, by which you can save money. 

There’s a risk factor involved with buying used cars as their history is unknown. It is possible that you might have to pay for hefty repairs after buying a used car. However, the risk is significantly reduced when you buy a Certified Pre-Owned car because it is covered with a warranty from its factory. If you want to maximize your protection, get a Carfax report and search the car’s Vehicle Identification Number (VIN) on the NHTSA’s website. 

But if you’re buying a simple used car, don’t skip the independent inspection, for which you should hire a well-known mechanic. It will make you spend some money but will offer ultimate security. The mechanic will identify any mistreatment of the car. You will know what maintenance and fixings you should carry at what time. 

Read More: The ideal way to make money investing in cars

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