The average price of a new car is now more than $47,000, according to the latest data. kelly blue book. This means you might get sticker shock when you go to the dealer, but you don’t have to pay full price.
“Every car you get should be negotiated,” said private car purchase advocate Tomislav Mikula. tick tock. “If you’re paying MSRP, you’re probably not getting a good deal.”
Here are Mikula’s top tips to save thousands of dollars on your next car purchase.
ask for incentives
Many automakers announce incentive deals on new cars, which often come with big savings.
“When buying a new car, new car incentive pricing is almost always the best option,” Mikula said in a TikTok video.
Never agree to pay for add-ons
Many dealers will try to upsell you during the purchasing process. You can save a lot of money by simply rejecting these add-ons.
“New cars are very negotiable,” Mikula said. “I don’t pay any of those fees or surcharges. Dealers still try to charge fees because they want to maximize their profits, but please understand that negotiations are possible.”
Don’t limit yourself to cars near you
Cast your net as wide as possible to find the best deal. This may mean finding a good deal far from where you live, but if the price is right, it can still be cheap even with shipping costs.
“Car shipping is becoming more of an option than in past years as dealers try to sell more cars,” Mikula said. “In fact, shipping costs are coming down. And if you’re trying to find a really popular car, say a Highlander Hybrid, you can definitely try to buy outside of that area and have the car shipped. . 2024 is probably the best year I’ve ever seen to ship in the last few years.”
start a bidding war
Mikula’s favorite tips for saving thousands on your next car don’t require a trip to the dealership. All can be done by phone, email, or text message.somewhere else TikTok videosHe explains that the best way to save money on a customer’s car purchase is to start a bidding war among dealers.
“I always say negotiation is like chess,” he said. “We’re going to take advantage of the competition between dealers to get the best price possible and pit them against each other. Just contact multiple dealers. Five for a typical car. We recommend dealers, 10 dealers for rare cars, and ask them for the best out-of-home price.”
Some dealers won’t tell you this number, but Mikula said, “80% of them will definitely play the ball.” The first price you are offered will probably not be very competitive, but this is just the beginning of negotiations.
“Find the best quote and send it to all the dealers and ask them where they can beat that price,” he said. “We’ll do this over and over again until we find a winner. If no one else is willing to take the deal, that winner will be the best deal.”
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