Looking for the best new car deals?
The most prepared car leaser or purchaser can attribute finding the best new car deals down to two critical negotiating tricks: understanding dealer psychology and leveraging data. One could argue it is a fine art.
To find the best new car deals and avoid getting ripped off, here are three of Wide Open Roads’ top negotiation tools and recommendations.
Hunt during end of month
Dealers are most desperate to hit quotas and bonuses towards the end of each month when the pressure to hit monthly sales targets adds up.
Use this for pure negotiating strategy in pitching offer well below MSRP price. Take note that dealerships store vehicles in showrooms and garage yards purchased on credit, which accrues a lot of interest, incentivizing them to pursue a deal.
Truecar.com shows users what others paid for the exact car you are looking for. Connecting with certified dealers through the platform matches you with local inventory.
Its trove of data provides an average purchase price for your chosen model, based on actual sales in your area, which often run thousands below MSRP.
All leases and purchases should start by negotiating well below the sticker price.
The basic, 90s era looking Leaseguide.com website offers a comprehensive suite of tools to assist car buyers in better understanding contractual terms to negotiate with confidence.
In particular, the 2017 edition of its patented Lease Deal Calculator is my preferred tool for all lease negotiations. The calculator allows users to input a vehicle make and model plus all lease terms (MSRP, down payment, rebate numbers, and monthly fee) and it spits out an instant ‘real lease value score’ that grades the deal.
Anything above a 75 is rated as “Excellent.”
Do not hesitate to use this while in the showroom to scare your dealers a bit with plenty of handwritten ‘notes’ for dramatic effect.