Purchasing a vehicle may be one of the largest financial decisions that could be made this year. Therefore, it is important that you take the right steps to ensure that you are getting the best possible deal. Here are six proven steps that can help you save money when you buy your next car.
1). Compare prices at multiple dealerships
Be sure to consider at least three different dealerships when shopping for your next vehicle. You may be surprised at the variations in prices. Also, consider the level of service at the dealership as well as the dealership’s reputation for customer satisfaction. The more dealerships that you research, the better your chance at finding the right price for your vehicle.
2). Be ready to negotiate everything
Vehicle purchases are more complex that one would think. With just about every vehicle purchase, there are line item fees that can be negotiated. For instance, you will want to avoid paying the following fees:
- Extended warranties
- Fabric protection
- Administration fee
- Dealer prep fee
- Freight fee
If the dealership won’t budge on eliminating these fees, then walk away. They will likely chase you back into the dealership and wave the fees.
3). Research car prices ahead of time
Before you contact any dealership, you should be well aware of the value of the vehicle. If you are shopping new, you can use Kelly Blue Book to research the dealer price. If you are shopping used, then you can use resources such as Hagerty or Bring a Trailer to compare comparable sales prices.
4). Shop for used cars in the “sweet spot of depreciation”
If you are shopping for a used vehicle, then you will want to find a model that’s currently in its sweet spot of depreciation. The sweet spot is the age of the vehicle where it is still reliable and when the depreciation curve begins to steepen. The sweet spot of depreciation is usually about three to four years old.
5). Shop at the end of the month
Dealerships and sales associates have quotes that they have to meet by the end of the month. Therefore, if you shop during the last week of any month, then you are more likely to have negotiating edge from a sales associate or dealership that has to hit their quota numbers.
6). Look for vehicles that have been sitting at the dealership for a long time
Take a look at vehicles that have been sitting in a dealership inventory for longer than 60 days. Also, you should also consider new vehicles that went unsold last year. Dealerships will tend to be more flexible on the pricing on vehicles that have been sitting in their inventory for longer periods of time.
Let WyzeDryver help you save big on your next vehicle purchase
Walk into any dealership with an edge. WyzeDryver provides expert car buying consultation by phone, by video or in person. Save on everything from the purchase price of your vehicle to financing and more. Our team has years of experience and understands how to negotiate with dealerships the right way. Contact us today to learn more about our affordable car buying services.
Purchasing a vehicle may be one of the largest financial decisions that could be made this year. Therefore, it is important that you take the right steps to ensure that...
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