Dealership incentives are usually available when buying a new car, and they can really lower the overall cost of a vehicle when used properly. The trick is to know about them before you go in to make a deal. It takes a little doing but, the savings can be worth it.
Dealerships aren’t out to give you the best deal that they can because, after all, their goal is to make every deal as profitable as possible. That’s why research is so important. Take the time to investigate incentives offered by the manufacturer of the car that has piqued your interested. See what’s available for specific models and for that dealership as well.
Maximize Customer Incentives
Manufacturer’s offer incentives specifically for customers whether or not the dealerships makes mention of them. Incentives may include reduced interest rates, lower the down-payment requirements or even give buyers a month off of car payments.
Familiarize yourself with these offers, and always bring them up if the sales associate fails to do so.
Shop at the Right Time
By shopping at the end or beginning of the month it’s possible to make the most of incentives. Dealerships, anxious to get new months kicked off well or to make quotas at month's end, are much more likely to bring the subject of incentives into the conversation. Manufacturers often give dealerships bonuses for meeting specific sales targets. These target figures are calculated at the end and beginning of each month.
Shop at this time and you may be able to take advantage of better discounts on vehicles. It’s easier to negotiate lower prices, but it doesn't mean your work is cut out for you. Don’t be afraid to haggle. It’s amazing how much money dealerships will take off of the last few vehicles they need to meet target sales numbers.
Shop at New Dealerships
New dealerships are interested in building up a base of clients and making a name for themselves. Manufacturers often give these new dealerships special incentives or deals to assist them in moving that first inventory.
Shopping at a brand-new dealership is a good way to get the best deal on a car. Not only do they have more incentives to offer, but they may also be more willing to lower prices. Often, at new dealerships, buyers can find much better rates on financing. Be on the lookout for dealership openings and special promotions.
Sometimes dealerships are in search of specific popular used vehicles and are willing to inflate trade-in value for such models. If your deal involves a trade in, ask the dealership if your particular model qualifies for any incentives and take advantage of the extra leverage.
Customers that are retired military veterans, school teachers, first-time buyers or recent college graduates can often obtain special deals and purchase agreements. Dealerships often offer discounts to these groups to make them appear community friendly. If you fall into one of the above groups, don’t be afraid to ask about any special incentives available.
Dealership incentives are always available. Take the time to shop around for the best offers; it's a great way to save as much as possible on your new vehicle purchase.