To get a smart deal on a new or used vehicle this summer, you need to do some homework. Car prices are bumping up against record levels. But, dealers are getting anxious. Next year’s models are beginning to appear in some showrooms, and many more of them will arrive in the fall. So many dealers are offering best-of-the-year pricing NOW.
Here are some tips to help you get the lowest price on your next car:
- Buy an Outgoing Model – If you have your eye on a new car, consider a 2014 model instead of a 2015. Dealers will need to clean out their existing inventory quickly. Unless there is a specific feature or update that you desperately need, you’ll have a much better chance at a great deal if you stick with the older version.
- Think Winter in Summer – Summer may not be the best time to buy a convertible. But, demand isn’t strongest for vehicles with all-wheel drive at this time of year. If you need a better vehicle for winter driving, now may be the time.
- Wait Until the End of Summer – Many parents choose to buy a new car before the start of the school year. Waiting until August or September gives you more time to shop and gets you to the dealer when they’re hungriest to sell. It makes for a great combination.
- Get Educated – Know exactly what you want, what you’re willing to pay, and what the dealer has in stock BEFORE you walk in the door. The more information you have at your disposal, the less haggling you’ll need to do. Working with a trusted salesperson you have used in the past is also a great way to make sure you get a great deal.
- Know When to Buy – Here are some pointers that you may not know.
- Negotiate at the End of the Month or Quarter – Salespeople want to meet their goals to qualify for special incentives. They are more eager to deal as the month or quarter comes to a close.
- Shop Early in the Week – Car dealerships are busiest on the weekends. Avoid the crowd and get the attention of a salesperson itching to sell a car by visiting early in the week.
And don’t forget to save on your payments as well with a low auto loan rate from R.I.A. Federal Credit Union. Check current rates and apply online.