Asbury Park, NJ, May 15, 2020 (GLOBE NEWSWIRE) -- The auto industry suffered heavy losses in the last few months. Car sales plunged after the issuance of stay-at-home orders. Car sales were at their lowest in March as people were discouraged from going out except for essential tasks. Consumers refrained from buying given the limited use of their vehicles and the general uncertainty about the economy. However, signs of recovery are breathing new life into dealerships and related businesses. JD Power released new data which suggests that the worst may be over and that buyers are getting excited again to get their new rides.
The best figures come from the southern United States. Sales in this region are getting close to the levels seen before the virus hits. There is still much ground to cover but at least the numbers are no longer as grim. In Arizona, data shows that dealers are selling just 14% lower than the pre-virus levels. Even the worst-hit areas are slowly inching their way out of the pits. In the week ending April 12, sales dived 98% in Detroit and 80% in New York. Last week saw the figures get a bit better at 85% and 77%, respectively. As long as they can prevent another wave, the upward trajectory is likely to continue.
Indeed, the industry needs all of the positive news that it can get right now. The major players are trying to help themselves as well by offering incredible deals. People who have been thinking about getting a new car have every reason to make that purchase with the possibility of 0% interest and terms lasting 84 months or longer. This type of loan length used to be frown upon but now their numbers grew by 19%. Even the average cost has increased by $3,000 from March to April. Many of the buyers come from the younger age groups as the 55 and older are mostly staying at home.
Despite these encouraging news, buyers have to remember that there is still much uncertainty in terms of the job market and the larger economy. The pandemic could linger for years. Being prudent with money should be top of mind. This includes getting vehicle protection for common mechanical issues and other problems. After all, no one wants to shell out for emergency car repairs at a time when getting food on the table can sometimes be difficult. Liberty Auto Protection understands just how important it is for car buyers to safeguard their assets.
Liberty offers a wide range of auto protection plans to suit every need during this crisis and beyond. There's the Basic Plan for those who are focused on the essentials. This will take care of repairs revolving around the engine. It is especially practical for individuals who bought used cars. There's also the Royal Select Plan which covers all major components and more. This is geared towards newer vehicles. Other plans are available for those who may want a degree of coverage that is something in between these two extremes.
Whichever plan you choose, Liberty will help you avoid financial shocks during the pandemic. The coverage includes both parts and labor. In case your car breaks down at the side of a road, you can call the emergency roadside assistance number and have it towed free of charge. Tire change and fuel delivery are also possible. You can pick any repair facility you trust within the US or Canada. Liberty will even cover the cost of a rental car while repairs are ongoing. This means essential workers and other employees will never have to worry about going to work.
If you would like to learn more about these plans, then do not hesitate to call the Liberty Auto Protection phone number at 800-599-9557. The company can also be reached through email using info@palmeradministration.com so go ahead and send one now. The office is open from 9 am to 7 pm EST every weekday. You can use the same number when filing a claim. Dealing with the effects of the pandemic can be hard but you can make smart financial decisions such as securing extended auto protection for peace of mind.