Wouldn’t it be nice if you had a little insider information before buying a new SUV? What if you could time your purchase perfectly to get the best deal?
When you’re in the market for a new vehicle, you’ll start to see offers everywhere. But how do you know if you’re getting a fair price? Dealers offer incentives throughout the year. By learning a few tips ahead of your search and staying flexible throughout the process, you can get a good deal. Here’s how.
Watch For Signs You Need a New Car
The more in need of a vehicle you are, the more you might potentially pay. Salespeople often get a feel for your needs and desires before you sit down to negotiate.
While you can never predict accidents, you can watch for telltale signs that your old vehicle is reaching the end of the road. When repair bills start rising and your car keeps breaking down, you’ll know it’s time to trade it in for a newer model.
When this begins happening, you should research new SUV models. You can secure financing, research dealerships, and compare warranties. You can also plan your trip to the dealership carefully. Armed with this information, you can go in prepared to make the best deal possible.
Select Your Timing Carefully
Dealerships sell based on supply and demand. The more cars they have, the more flexible they can be in accepting offers. As they approach the end of the month, they may also have a greater desire to meet monthly sales quotas.
The sales team may also have financial incentives for closing out the month. If they receive sales bonuses, they may be willing to negotiate a bit more to close deals.
If you time it right, you can also wait for the end of the quarter. March, June, September, and December are often prime months for dealerships to meet sales goals. If they haven’t met their quotas yet, they may be more open to negotiating on price.
Pick the Best Day of the Week
Need a car quickly and can’t wait for the end of the month? You can find good deals on new SUVs by paying attention to the day you shop. Mondays and Tuesdays tend to be quiet on most car lots. Salespeople have plenty of time to answer questions without worrying about anyone else walking onto the lot. That means you may have more time to negotiate a good deal without feeling rushed or interrupted.
If possible, avoid buying a new SUV on a Saturday or Sunday. Weekend traffic is always high, meaning lots of shoppers visit to score a new car. With so many shoppers vying for the sales team’s attention, you could feel rushed as you move through the process.
Find Out When New Models Come Out
Dealerships may be heavily advertising their latest-and-greatest model, but that might not be the best bargain. Why not look at last year’s model? Dealerships are often willing to cut their margins on the previous year’s stock to make room for newer inventory.
The model year traditionally ends around Labor Day. You’ll often find that dealerships hold back-to-school sales to clear out old inventory and advertise their newest. Of course, the deals don’t necessarily end on Labor Day weekend. They’ll continue pricing well as they move the old stock out the door. You may be pleasantly surprised at your deal if you’re more flexible on colors, features, and even which SUV you drive home.
Check for Good Deals Around Major Holidays
Waiting for a Labor Day sale won’t do you much good if you need a vehicle around the first of the year. Luckily, dealerships often host several other sales throughout the year.
Car dealers typically hold sales around Presidents’ Day, Memorial Day, Fourth of July, Labor Day, and Black Friday. That gives you ample time to research and wait for the right holiday sale. Because they’ve put time and effort into advertising, dealers are looking to meet high quotas. That means they may be more flexible in negotiations, especially as the holiday weekends end.
Go In With a Plan
The more you learn about your desired SUV before you go in, the more informed you’ll be throughout the decision process.
Do your research early. Pinpoint which dealerships offer the SUV you have your eye on, and approach them with specific goals in mind. If you find a slow-moving model with lots of inventory, dealers may be more likely to offer special discounts and sales incentives that might not otherwise be available. Be sure to ask about cash rebates or discounted financing as well.
Stay flexible with your goal, and be willing to move to other models. You might be surprised at just how much you can save in the process, and you’ll still drive away with the new SUV of your dreams.