Many people know that car shopping at the end of the month may be when you can score a good deal since dealerships and salespeople want to hit their quota for that month, but year-end savings can be even better yet! Let’s take a look at how to spot them!
Step One – Figure out what you want. Get online, do your homework, decide what type of vehicle, or even better yet, what exact vehicle you are in the market for. Be sure to check out the comparable models from different manufacturers, as you may find a better deal, warranty, or features in a brand you didn’t think of looking at before. Be sure you are weighing your needs vs. wants as well.
Step Two – Know the lease deals and loan types before heading out. What type of financing will you be doing? Lease? Buy? Cash? 72 month? 60 month? These are all details you will want to be hammered out before sitting at the dealership. For example; 72 months could lower your total monthly payment but could drag out long enough that you owe more than your vehicle is worth. Be aware of all the factors. Do you drive a lot of miles? Leasing may not be in your cards then. Hardly drive at all? Be sure to check out lease deals then! While in this step be sure to know your credit score so there are no surprises and you know roughly what you should be getting for an interest rate.
Step Three – Be sure to check out new and current year models. Weigh out both options and what your selected dealership is doing for deals. They may be pushing the current year models out harder with better deals than the new year models.
Step Four – If you find your chosen vehicle at a couple different dealerships, get on the phone, or online and discuss with them about getting the better deal. They want your sale so one dealership may offer a better deal than the other.