Car sales have plummeted due to the COVID-19 pandemic. With many auto retailers closed due to self-isolation practices, many potential car buyers have moved to online shopping.

Stimulus Checks Help Increase Car Sales

While the majority of Americans are facing “stay-in-place” procedures, others are thinking to the future. The speculation is that, when the pandemic all over, millions will need to look for jobs. In many instances, in order to have a job, one needs a car. This is where a lot of consumers have decided to place their stimulus checks. Either as a down payment, or to simply ad it to their existing vehicle savings.

For those who cannot drive to the auto dealer, or for those who do not have a local dealer that is open to the public, online shopping is the way for them.

Used Car Sales Bounce Back

The opportunity for many to be able to drive a car has been halted by current events. For those who had been saving money to purchase an auto, they have had to focus their funds for other more pressing matters. Meanwhile, the stimulus checks that have been sent out are suggested to re stimulate the economy.

For out of work citizens, this is a break on rent. For other’s this is an opportune time to invest in other endeavors. Many have decided to take the used car route in order to have a substantial chance at landing a new job once the quarantine is lifted. This is why the used car industry has made a slight bounce back.

Used Cars Help Those In Need

For many who are looking at potential opportunities once the stay-in-place protocol is lifted, they need a car. This $1200 isn’t much, but it will certainly help them get to where they need to go in order to progress their lives.

Auto Prices Plummet

Supply and demand are what drive the economy. In this case, the low demand for automobiles due to many not needing to drive anywhere has hit the economy hard. So hard, that as of right now, prices and interest rates are at their lowest. This has helped to work hand-in-hand with the federal stimulus check and has given many the opportunity to independently drive to grocery stores without the need of public transportation.