Marc Zaransky on the Benefits of Buying a Car Without Leaving Your Home
More people tend to buy a car during the spring season. As the weather gets nicer, test-driving a new vehicle becomes more desirable. But, what about buying a car amidst a global pandemic? Is purchasing a new vehicle during the coronavirus outbreak a smart idea? Is it something we should consider as consumers to be an advantage?
Marc Zaransky, operator of a successful family owned auto leasing business that has grown to be Illinois’ largest independent leasing company with operations in all 50 states, explains three reasons why buying a car amidst the coronavirus pandemic could benefit you as a consumer.
1. You could save thousands of dollars
If you’re in the market for a new car, it could still be a good time to buy. Many automakers are offering 0% financing for up to seven years and deferred payments to spur sales amidst the coronavirus pandemic.
Although we’ve seen 0% financing in the past, it’s usually something that’s given for less than five years. Right now, we are seeing 0% financing for five, six and even seven years. Depending on the purchase price, 0% financing could save you thousands of dollars over the course of your loan, says Marc Zaransky.
Additionally, the best deals will be found on vehicles that have been sitting on dealer lots. Incentives on leftover 2019 models are currently averaging around $6,600 or 50% more than on 2020 offerings.
2. You can purchase in the comfort of your own home
Although many states have started to re-open businesses, including local dealerships, stay-at-home orders are still evident in others. If your local dealership remains closed due to government guidelines, buying online is an option — and an enticing one at that.
Today, more and more automakers are making the car-buying process more digitally friendly. For example, of the more than 3,000 Ford dealers in the U.S., 93% offer virtual online sales processes, including virtual product walkthroughs, video chats, online credit applications and contract capabilities. Additionally, roughly 9 in 10 have pickup and delivery services and a large majority (92%) offer home delivery for new purchases. During this pandemic, Ford noted that roughly one-third of recent sales have been conducted remotely.
3. Buying a car will be more efficient than ever — for both buyers & sellers
Not only has buying a car online streamlined the buying process, it has also allowed for a less time-consuming experience for both the buyer and seller. Car dealerships will forever be changed, says Marc Zaransky.
Buying a car during the pandemic has allowed dealerships to improve the sales process, and automotive companies and dealerships that transition quickly to electronic communications will receive more customers.
But buyers will see benefit, too. Now that more cars are being purchased online, one employee can oversee the entire purchasing process — from the test drive, to arranging financing and finalizing paperwork, to delivering the vehicle to the owner’s home. This immediately allows for a better sales experience for the buyer.
Marc Zaransky on moving through it all
During these uncertain times, it’s easy to lose focus. However, with technological innovation at the forefront, companies in the automotive industry should take advantage and integrate their business onto a virtual sales platform. This opportunity will not only allow a dealership to thrive in a time of crisis, but it will also benefit its customer by creating a more efficient buying process, says Marc Zaransky.
