Many dealers are offering 0% financing or payment relief.
Some are also providing significant cash allowances to lower prices.
Social distancing has also changed the car buying process.
These deals may have you asking yourself, Is it a good time to buy a car?
The main thing to ask yourself is, Was I going to do this anyway?
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While having adequate savings is always a good financial move, its especially important in these uncertain times.
You should ensure your car purchase wont drain the money youve set aside for your emergency fund.
You dont want to fall in love with a car thats out of your price range, Capalad said.
Another thing youll want to decide about your purchase is if you want to buy or lease the vehicle.
Asking for discounts is another tactic.
And if youre replacing your current vehicle, dont forget about the trade-in value, James said.
Your credit score will influence how much youll pay in interest over the life of the loan.
Dont go to the dealership and wait until they run your credit, James said.
She also said not to rely on the dealer as your only option for financing.
Just dont make decisions based off of your emotions, James said.
Emotions flee, and those car payments can last anywhere from three to seven years, she said.
Nicole Dow is a senior writer at The Penny Hoarder.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
