Most research shows that when you buy a car in the winter, you have a better chance to receive discounts or get other “extras” included in your deal. However, if you can’t wait until winter to buy a new car, here are some options to think about:
Consider an older model. If you’re looking to buy a new car, think about buying last year’s model – especially if the new ones are moving onto the dealer’s lot. Usually, salespeople will give you a better deal on an older model because they’re trying to offload their inventory.
Shop when salespeople are more vulnerable. Shop at the end of the day or the end of the month or quarter. These are times when salespeople need to amp up their sales and you can get a better deal.
Shop early in the week. When you shop on Monday or Tuesday, you may get more attention and a better deal than on Friday, Saturday or Sunday.
Shop on holidays. While the rest of the world is grilling in the backyard or popping fireworks with their family, car dealerships are itching to get people in their doors (or parking lots). When business is slow for them, it means a good deal is going to happen for you.
Plan ahead. By getting pre-approved for an auto loan, you know exactly how much you have to spend. This will give you an added benefit when negotiating car prices.
Do your research. Find the car you like first, and then research how much that car usually costs. You can search online at different car sale sites as well as car pricing sites, like nada.com and www.kbb.com.
Shop where you are valued. Here at Gulf Coast Educators FCU, we work with many car dealerships, the good and the bad. So we know who is going to give you the best deal and treat you like we would. Call your personal loan officer and ask which dealerships and sales(wo)men they recommend. The credit union also has this great site where you can search for a car from a list of our preferred dealers – http://gcefcu.memberautocenter.com.
It is important that you do your homework prior to stepping into a dealership. Know what you want, know what the sales price is, and research all the features. Make some calls to dealerships or email them prior to going to make sure your desired vehicle is available at that location. And, make sure you have a pre-approved auto loan before buying so you know what you can afford and have the confidence you’re getting the best deal possible.
To learn more about the auto loans available at Gulf Coast Educators FCU, click here, or give us a call at 281-487-9333.
Information is for informational purposes only and is not intended to provide legal or financial advice.