3 Tips for Getting a Great Deal on a Vehicle

Whether you’re looking for a car, a truck or an SUV, if you do a bit of research you can almost steal a new car from a dealer. There are several steps involved in finding just the auto deals you want, but they can be summed up as: research to find the cars that are not selling, buying some discounts and wait until the end of the month because dealers will be in a frenzy to sell vehicles.

Of course, there are other things you have to consider as well. For example, you can look at finding car deals as being similar to buying day-old bakery items. When you go into a bakery, you’ll find the cheaper, day-old stuff is in a different place in the store. So you’re going to have to look around.

Also, beware of any deals that seem too good to possibly be true, such as a $59 a month payment truck deals. Plenty of dealers use somewhat questionable sales tactics to draw in potential buyers. Much of what you see in their advertisements is misleading. Any low-price deals you encounter are often for stripped-down models that your dealer may not actually have in stock. Plus, you will often run into massive down payments with these kinds of deals. In any case, keep the following three points in mind.

Choose Your Targeted Slow Sellers

Look for a type of car that just isn’t selling well at this time, whether it’s a compact, a lower level luxury car or a gas-electric hybrid. Dealers will have lots of these cars to sell and will want to clear them out. Remember, they’re paying interest for these vehicles, so they need to sell them.

Next, be on the lookout for automaker press releases regarding monthly sales. Try to find models that have large over the year decreases in sales. These are usually released early on in the month. Keep in mind, you don’t want to be too picky. For instance, you might be able to get awesome SUV deals as long as you are too demanding when it comes to equipment or color – since you can buy what currently on the dealer lot.

Visit the Dealers

During the first half of the month, you should visit some dealers. Check to see that they have the deals and incentives you saw online – and then see if they have even more than that. You can often come across local or regional deals being offered by dealers that aren’t found online. You can also get discounts for other things, such as being a member of the military, and AAA member or a member of certain college honorary societies.

Make sure you’ve done your research well ahead of these visits, since salespeople are more likely to be straightforward and honest with you if they know you’re up to speed. Don’t agree to any purchase at this point in the conversation and don’t talk about a trade-in yet. Do that later in the process.

Choose Your Dealer and Then Come Back Later

Remember, you’ll likely get an even better deal by waiting until the end of the month – or even the end of the quarter. To begin with, this is because salespeople get bonuses when they meet their monthly sales goal. When these salespeople are close to – but not quite at – getting this bonus, you’re more likely to get a good deal.

The dealers themselves also get incentives from the automakers when they hit their sales goals, which can also make them more likely to offer bargains. For some of the larger dealers, getting their sales goals can mean as much as a quarter of $1 million – which is often the difference between a monthly loss and a monthly profit. Note that the larger dealers are more likely to get bigger incentive payments from the automakers, which might make them your best target.

In the end, by using these steps and being a tough negotiator you can often get a good family car with lots of options for much less than the cost of a stripped-down SUV. And even the SUVs themselves can be had bargain-basement prices if you do your research, choose the right dealer and make the deal at the right time of the month. There’s no reason to pay more than you have to for what you want when all it takes is a little extra effort for you make the deal.