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We at CFR hope you and your family are healthy and taking all necessary precautions to get through these uncertain times.
We want to provide you with some background on how this crisis is likely going to affect our and your world of car buying, selling, and shipping.
Car Shipping Has Not Stopped
- The ports are open, ships are still crossing the oceans, and CFR continues to receive, load, and ship our clients’ cars in all major ports around the United States. Please contact your CFR rep for any questions or submit your questions here.
- Encouragingly, while Chinese car factories are already back in business, most U.S. and European manufacturers have vowed to open back up in April. This keeps us hopeful that a return to normal for the world’s economy is on the horizon. Read more here.
What to Expect
We still vividly remember the economic crisis of 2008. It was a very troubling time with so many people around the world losing their savings, jobs, and homes. The current crisis is even more devastating as so many people are losing their lives, and many more falling sick. With all these scary and often confusing news stories coming at us every day, here’s a look into the future of your world of buying, selling, and collecting cars:
- During the crisis of 2008, new car sales dropped dramatically, but the buying and selling of used cars picked up quickly and prices dropped. We expect the same to happen during this crisis. Many of you will be able to find very good deals for used cars, auction vehicles, and classics. Please contact your CFR rep to help you find good deals, or submit your request here.
Auto Industry Safety and What CFR is Doing to Keep You Safe
- Due to social distancing, most auction events are now being held online only, and private sales are increasing. In fact, collector cars are at their lowest price since November 2019. Read this market assessment from Hagerty.
- You found a car online, but are unable to travel to inspect a car in person? Let your CFR rep know and our dedicated team will get on the job with a comprehensive, 100 photo in-person inspection. Contact us for more information.
And click here for some helpful tips for keeping the inside of your car virus-free.
Stay safe out there,
The CFR Rinkens Team