Car dealerships are usually necessary players in the car-buying process. As automotive suppliers, sales experts do their best to provide you with the best vehicle that meets a driver’s needs. But beneath the shiny paint and new car smell may lie frustration, as some dealerships struggle with maintaining transparency during a sale.
With many essential details flying under the radar, ensuring you get the most value out of your purchase can be a challenge. To help you make the best decision, here are four secrets car dealerships won’t tell consumers.
The Best Price Is up to the Dealer
Believe it or not, not all car dealerships are inclined to provide a customer with the best price! Because of this, salespeople often perfect the art of negotiating. While they may have some room to decrease the final selling price, their goal is to reach sales numbers for the year.
With many auto dealers seeking an average of 2–4% profit margins, salespeople will try to make the most money for their business.
End-of-Year Sales May Provide Best Prices
Speaking of pricing, what some dealers don’t confess is the benefit of purchasing a vehicle during an end-of-year sale. During the final months of the year, many dealers attempt to reach sales goals, meaning they may be more willing to negotiate final prices.
It’s a win-win situation for all parties! The consumer can acquire a vehicle at a lower cost, and the salesperson can get one more vehicle off their lot and into their sales numbers.
Hidden Fees Can Accumulate
Some car dealerships are notorious for adding additional fees to the final cost, and they may not tell a consumer unless asked for clarification. Some of these hidden fees may include key protection, documentation fees, and other charges. Fortunately, you can negotiate several expenses if you find them in the final paperwork, so you’ll want to carefully review your contract before signing on the dotted line.
You Don’t Need Add-Ons
It isn’t uncommon for salespeople to persuade customers to buy seemingly useful add-ons for their new vehicle. However, as a crucial tip to keep in mind when purchasing a new car, avoid including add-ons to your vehicle until after driving it for a couple of months. Unless you realize after driving that you need one, these add-ons are often unnecessary and just increase your monthly payment.
While consulting an expert during the car-buying process is helpful, remember there are secrets car dealerships won’t tell consumers. Preparing yourself beforehand will make you aware and help you become a savvy shopper.