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How Monkeypox will impact car buying in Dunnville

How Monkeypox will impact car buying in Dunnville

This may sound like a joke, but it isn’t. Viruses like Monkey Pox can impact your car-buying options and almost everything else you will buy.

The global economy has become very sensitive to the risk of another virus outbreak, and even viruses that seem insignificant, like Monkey Pox, can throw the economy upside.

While we are waiting to see how this virus plays out, you should be thinking about getting a new car.

Gas prices, carbon taxes, and you

We are not asking you to buy a new car for vanity; if your car is more than two years old, it is not as fuel-efficient as the newest models currently being produced in Oshawa and Detroit.

Gas prices are high, but they will never come down to their pre-pandemic levels.

The reason that gas prices will remain high is due to carbon taxes that the federal government put in place to try and force people to switch to an EV or alter their driving patterns to use less gasoline.

While the official inflation rate is over 6%, most Canadians feel it is a lot higher, especially with the Bank of Canada on the warpath with inflation.

We are seeing massive prime interest rate increases with the single goal of putting the brakes on the economy.

The challenge is when interest rates go up rapidly, and in a short amount of time, the average consumer is not able to adjust to these changes. Anyone with a variable rate credit product that is tied to the prime rate is going to feel the pain.

Even if you don’t use credit at all, you will be paying for these policies at the checkout of your local store; everything in Canada must be shipped and trucked in, which requires fuel which you, the ultimate end user, must pay for in the final price.

Consider making the switch to an EV

You should give some serious thought to making the switch to an EV and getting rid of gasoline completely.

This may seem like a radical idea, but we are living in radical times; this could be compared to a little over 100 years ago when people were asked to give up their horses and get behind the wheel of a Model T Ford.

With an EV, you never have to buy gas again, and with electricity rates, for the most part, predictable, you have a measure of comfort knowing your “fuel” costs are going to be kept in check.

How to save money on your new car purchase

We have established why you need to get a new car, but we still need to show you where you can save money on your next car purchase.

While it may sound counterintuitive when living in the age where people are buying houses online sight unseen but you should visit your local car dealership.

The dealership will have an extensive inventory of EVs you could test drive, and the dealership will get you approved for a car loan no matter how spotty your credit profile is, so give your dealership a call now.

If you need help or advice on anything to do with auto loans in Dunnville, contact Car Nation Canada today, we can help!

Categories: Car News