Should You Buy Your Dream Car During Covid-19?

With Covid-19 raging across the nation, businesses are facing the worst economic predictions since the Great Depression. The term ‘Now or Never’ has never been more relevant, and, in some ways, more fearfully ambiguous.

So, what is the smart choice when it comes to consumer purchasing today?

And how do you level that with an individualized set of needs and wants?

The automobile industry is in a particularly precarious position, with prominent firm Boston Consulting Group concluding that sales will drop between 14 to 22 percent this year alone. While such numbers will affect countless jobs in the automotive sectors across a wide margin, there may well be a flip side to the statistics, particularly when it comes to car pricing. Ironically, used car prices have soared through the roof during some of the pandemic’s worst months.

Depending on a consumer’s socioeconomic standing, hand-in-hand with their concept of a dream car, they might be in for a terrifically good week as long as they follow specific data and make calculated decisions based on said data. If anything, volatile and shifting numbers challenge consumers to think critically about previous items that may have seemed either unattainable or a routine buy.

The term ‘settle for more’ is dead, and ‘settle for enough’ might be just beyond arm’s reach. It’s all very personal — what the facts on the ground are regarding your living situation, as well as your knowledge and savviness negotiating the car markets.