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Advice from Intellichoice: Understanding Dealerships - Tips from the Showroom Floor
Visit an auto show. Most of the new-model-year vehicles will be on display in a non-sales environment, offering a fun, time-efficient opportunity to comparison shop.
When a vehicle is about to have a significant redesign, dealerships will be eager to get rid of the old bodystyle, which can mean significantly lower prices. Be sure to monitor Motor Trend’s auto show coverage and our Future Vehicle Forecast at Intellichoice.com to keep abreast of upcoming model changes. Our overview comments also reveal when the next major or minor change is expected to happen for each vehicle, and when the last change occurred.
Shopping toward the end of the model year can reveal many clearance sales. Be aware, however, that these vehicles technically will become a year old the minute the new models arrive.
The end of the month is the best time to buy, as salespeople are trying to meet quotas.
Keep in mind that the dealership doesn't expect you to pay the sticker price (MSRP) - unless you haven't done your homework. Avoid dealer packs or “added markup” as well as the impulse to buy a brand-new car while its supply is low and demand is high.
Because a test drive with a salesperson usually lasts only 15 to 30 minutes and is anything but relaxing, try renting the model you're considering owning. It's an inexpensive way to ensure that it has your and the whole family's approval.
Dealers tend to order certain options or packages repeatedly due to their popularity, so the lot is often filled with similarly outfitted vehicles. This means dealers may be willing to negotiate on these vehicles, but unless the compromise is one you can happily live with, don't feel pressured into buying a vehicle that isn't equipped precisely as want it. You may have to special-order to get exactly what you desire, which may mean less room for negotiating. But you're spending a lot of money here, so why not drive home in the car or truck that makes you the happiest?
Nowadays you can use the internet for researching everything about the vehicles you're interested in, including insurance premiums, financing options and dealer inventory - plus the invoice price. Bring concise research notes with you to the dealership to aid negotiation.
Be open-minded when you're researching. You may have your heart set on a Lexus sedan only to find that a Hyundai sedan has the same luxury options you seek at half the price. Also, be sure to check IntelliChoice's Cost of Ownership ratings on any "bargains" you find, as oftentimes the long-term cost scenario isn't as rosy as the sticker price. Heaping a big rebate on an already poor value won’t necessarily turn it into a great one.
Don't be a payment buyer. In other words, never announce to the salesperson that you're only interested in a particular vehicle if you can get the monthly payments at a certain figure. Be aware of your target as you negotiate through purchase price, trade-in, and financing, but don't use it as your sole purchasing factor.
