Over the past couple of years, many challenges have arisen in the car buying market for buyers and sellers alike. With issues like inflation and high fuel prices along with the scarcity of new cars coming onto the market, demand for cars has eased up. So, the result has been buyers placed in the position of paying a good deal over the manufacturer’s suggested retail price (MSRP) when they pull off the lot.
This tends to be the factor with new and used cars alike. It can be a challenge to find a good deal on a car no matter whether you are looking for a brand new model or a quality used one. So, it can take some good searching and working in the market to buy a car under the MSRP in today’s market.
One of the greatest tips offered by experts to car buyers is to increase their flexibility in the car market where you search. With new cars more expensive, used cars also tend to be 22% or so more expensive than last year and even 48% more expensive than before the economic explosion of the pandemic. So, you need to be a smart buyer when you hit the market on the search for a car.
A couple of the greatest factors in your flexibility will be your patience and your ability to search in a much larger range of locations around your hometown than usual. It is comfortable to go directly to the dealer where you usually shop for a car, but their prices may be some of those marked way up from the inflation since the pandemic. You could benefit from hitting the internet to search out dealers within 100 miles or so of your hometown and see if anyone may have a good deal on the model you are looking for. Also, there are many various direct online shopping websites where you can purchase a car and have it delivered to you along with them picking up your trade-in.
As you get started online, you have the ability to research the value of your car along with the actual value of your trade-in before you hit the lots. You can go with some numbers pre-determined as to what you expect to pay and what you expect to receive for the car you are trading in. This way you won’t get duped by a large markup on a car. You can also shop out comparison prices of the model you want on sites like TrueCar, Cars, or Carfax and take some of those numbers along with you so that you walk onto the dealer’s site well-versed in your car and what it’s actually worth.
Another way to go into your purchase prepared is to prearrange your financing. You can do this with your own bank or another financer, and that way you won’t get “taken to the bank” by the dealer’s financing department with overcharging that includes various fees and ridiculous interest rates. This can also help you grab a car that you really want while it’s available, and get it before someone else sweeps it up.
With all of this combined, it’s just a little more work to get a decent deal on a car right now, but it can be worth it in the long run. Take advantage of your resources and put together a good deal for yourself!