2020 Memorial Day Car Deals during COVid

Sarah Marks

4 years ago

2020 Memorial Day Car Sales amidst COVid-19

MEMORIAL DAY CAR DEALS and COVid

The reality of the ads and announcements proclaiming this to be the BEST TIME to buy a NEW CAR, is part-hype and part-panic. Allow me to prepare you for the reality of shopping for a new car this Memorial Day-Holiday CAR DEAL weekend.

Factories have been shuttered for 2 months, so no new inventory has arrived to replace diminished stock. Be prepared to select a second or third color choice.
Incentives are necessarily stackable. If you take the 0% no interest rate, you may not have the entire/any cash rebate.
If you are UPSIDE DOWN, (You own more than your trade-in is worth)*, take the cash rebate to dilute the negative equity.
Have cash down ready, as many banks are tightening their credit lines. You may have an 800 FICO but the bank wants only to loan on the value of the car, not the taxes, fees or added upgrades. Lift-kits and custom wrap jobs are generally NOT financeable.
Your trade IS NOT WORTH what Kelly BLUE BOOK says. Take $3000.00 to $5,000 off their best trade-in number and see how right I am. Used car values are dropping like anchors in the ocean as 0% is back in play on new cars.

BEST DEALS for MEMORIAL DAY 2020

BEST NEW CAR DEALS for this 2020 Memorial Day-Holiday CAR DEAL weekend.

Hyundai Sonata, Tucson. 0%, loyalty and lots of safety features standard. Colors in the Limited could be *limited* so call first. Click here for more info. Ask for Giovanni and tell him I sent you for special MyCarlady pricing.
MAZDA CX-5, 6 and 3. Great lease deals on all three and special financing available too! Inventory seems to be good now, but after this weekend expect picking to be slim until July 4th. CLICK HERE FOR DETAILS – tell them I sent you for special MyCarlady offers.

LUXURY CARS and HYBRIDS
JAGUAR: If you can overcome the reliability stigma you can virtually steal a Jaguar right now.
HYBRID models are taking it on the chin as gas prices are the lowest in years. What goes up must come down and then the pendulum swings. Grab a deal on a Toyota Prius, Honda Clarity, BMW i3 (NOOO, not the i8) Nissan Leaf or Mini Cooper, if you can find one. However, TESLA is not in this group.

SUVS and Crossovers
ACURA MDX: This awesome SUV was due for a remake in 2020 which go pushed back not one but 2 years. SO grab the 2020 while you can, as a lease or buy, you won’t get hurt. Acura makes a great car.
Hyundai VENUE vs. NIRO: The NIRO has a plug-in, hybrid and gas version, all have deals. The Hyundai Venue not so much. This is becasue the Venue is BRAND new this fall and supplies are limited.
AGAIN: it’s worth saying again: Your trade IS NOT WORTH what Kelly BLUE BOOK says. Take $3000.00 to $5,000 off their best trade-in number and see how right I am. Used car values are dropping like anchors in the ocean as 0% is back in play on new cars.

CAR CREDIT, 0% and YOU

CAR CREDIT is shrinking as interest rates drop.

If you are expecting the 0% and 84 mos. deal with a FICO auto credit score of less than 799, think again. Banks will give you a second look and ask for a considerable down-payment, if they offer your the 0% at all. 84 months is 7 years folks. You can’t have 84 months on a $20,000.00 Elantra. Have your credit ducks and down-payment in order before your make an appointment to test-drive your dream car.

HOLIDAY SALE SHOWROOM ETIQUETTE

WEAR YOUR MASK and GLOVES.
MAKE AN APPOINTMENT is BEST. As dealers are only allowed a reduced staff on property.
NEVADA DEALERS are allowing clients into the showrooms, but the cars are all OUTSIDE! Have your water, sunscreen and hat ready. I recommend carrying your own sanitizer as the sun may kill the virus on the exterior, but who knows about the interiors.
TEST-DRIVING is on your own. You will provide a drivers license and phone number and be sent on a timed test-drive. If you are taking the car home to see if it fits in the garage, let the dealer know so he doesn’t send out a BOLO (be on the lookout) on you.
PAPERWORK. If you want the car- BUY IT NOW. but tell them you want to have the car and paperwork delivered to your house. No waiting in your car or the showroom with everyone else.
PERSONAL CHECKS will require a back-up contract, until your check clears the bank (usually 10 days). As banks are on half-staff, dealers will want to be able to cash your contract if the money isn’t there in time.

LET MYCARLADY REGISTER-TITLE YOUR CAR TODAY!