I have always preached do your home work since the web arrived.
#1 know what you want. Don’t go to buy till you know just what you want vehicle wise and option wise.
#2 drive it enough to to know if you like it or it fits your needs. Too many never test drive or just go around the block. Many dealers will let you take a vehicle home over night.
#3 know what to pay. Many web sites are available today with the price range in specific zip codes being paid.
#4 use the web yo find what you want.
#5 utilize dealer trades. Now is not a good time but with inventories up it is a good tool.
#6 go with your financing.
#7 know the fees you should or should not pay.
#8 know your trade value and do not say you have a trade or special offers like money back card money on new cars.
#9 expect that if the air bag ever has gone off the dealer will refuse the trade no matter the car condition.
#10 the most important thing do not get emotional on any car. The sales staff can use that against you. They build new vehicles every day. If they do not come to a reasonable price wait. You can get another car found or built.
#11 if things stall walk.
#12 take advantage of cash back cards. My GM cards average $1500 to $3000 off a new purchase. Use them to buy gas and pay them off monthly and it is free money.
I have averaged $6k to 8k off each of my new vehicles but one right up till last July. My father taught me well on how to deal.
I hate to deal but I do love the feel of when you know you did get the goal price you set when you go in.
I cringe at sone of the deals I see people make or see them complain on the web about how a vehicle drives after they buy. It drove like that before you bought it.
Most people fail as they do not keep their emotions in check and or fail to do the home work.
#6 is great, although I must say that in my experience a dealer's F&I manager has always beat the rate given to my referrals by their bank/credit unions. It's likely worth letting them try to beat it.
#12 is a fantastic point, something I shoulda added to the article...but it assumes the buyer is loyal to a specific brand.
Invoice pricing in this case is a statement of fact (not an inference) as verified by both the buyer and seller. And it isn't an isolated instance. Not only did my friend Joe get a new Durango at invoice, the dealership's General Manager insists he isn't the only person getting that deal.
DC must be a tough region for buyers these days, I'd recommend doing a multi-state search and budgeting for some shipping costs.
I am inclined to agree with you! Its not just in your area either. The only exceptions for buying a vehicle with some kind of a price reduction are. Certain models (witch is very few), some areas, and the timing. Timing may be the biggest factor. It is in my area where almost everything has a dealer mark up above sticker.
My son wanted a new Rav-4, and I helped him shop here in Jacksonville Florida. The local Toyota dealers weren't any help and prices were way over MSRP. Inventory was limited. He wasn't in a hurry, as this was going to be a 2nd car for him. I suggested he start shopping out of state, even with the travel or shipping costs, it might still be cheaper than locally. He did, and found a great dealer, and deal in North Carolina. He flew up in the morning and drove back down the same day, with his new vehicle. He paid well below the local Toyota dealers, in fact, he paid below sticker. I told him to focus on the bottom line, but still review the deal. No surprises, no funny business. The catch was he told them what he wanted and what he wanted to pay, and he would wait as long as needed for the car. In about 90 days, he took delivery. The dealer treated him so well, the whole extended family is considering buying from that same out of state Toyota dealer in the future. The local dealer will most likely loose out on many future sales. Makes you think...
He didn't test drive one, but it shouldn't be too hard to get behind the wheel of a Durango like the good old days. Good luck test driving something like a Ford Maverick, though.
That's a big no to #2...all they do is take their cut/commission out of the money you could be saving if you do all the steps yourself. Go straight to the source (well not in person, just online).
The Costco program gave my Dad cash on his Hyundai towards the vehicle at the time. Things may be different but it really depends on the program. I used a program which discounted a Subaru I had about $3500 under sticker. I realize in 2022 things may be different but it is worth checking the overall price out the door you get. It could be worth it.
The best thing I have found is an honest salesman at an honest dealer who wants your business and knows that if you treat the customer well a customer will return.
Programs make life easier, and when you factor in time-value of money, maybe its the right move. I am very confident you would have gotten the same Subaru for hundreds less if you removed middleman from your transaction.
Nobody works for free in the car business, unless its someone like me.