Thinking of buying a new car this summer? Whether you’re looking at exotic cars or full-size trucks, there are some strategies that will help you save.
Believe it or not, summer is a great time to buy a new vehicle.
When the auto industry tanked in 2008, carmakers slashed production to save money. However, sales have started to pick up, and that may mean the buyer’s market is ending.
In a recent Yahoo Autos and US News and World Report article, Truecar.com Industry Trends and Insight vice president Jesse Toprak explained that prices may begin to increase at the end of the summer.
“Discounts will be less attractive [this fall],” Toprak says. “Summer is a great time to buy because discounts will be attractive and inventory will be decent.”
Whether you are planning to buy a Ferrari or a Ford, keep the following tips in mind:
- Don’t bother trying to get the Fourth of July weekend deals. According to Toprak, the Fourth of July weekend isn’t really one of the best times to buy a car. Instead, try stopping on the days surrounding the holiday weekend.
- Buy an SUV or truck. With gas prices still high, many consumers are looking for fuel-efficient smaller cars, which means truck or SUV discounts.
- Before buying, ask about cost to insure the makes and models you are considering. Some cars are more expensive to insure, so compare auto insurance rates.
- Don’t shop for a convertible in the summer, since that’s when prices are highest.
- Separate the new car purchase transaction from the trade in. Negotiate your best deal by telling the dealer you have nothing to trade. When you get a rock bottom out the door number. Then offer a trade so that you can see exactly what you are getting for your trade.
- Investigate financing from credit unions and banks before you start car shopping.
- Comparison shop. Just like you compare rates for auto insurance, be sure to shop your local dealerships and make them work to beat the best price you find. Don’t be shy about offering a lower price for a vehicle or asking for extra options.
- Do you homework using to determine the dealers true cost and current incentives on the vehicles that you are interested in.
Still can’t afford your dream car? You can drive it for far less money if you participate in an automotive dream tour. Nothing says summer like driving a Porsche Cabriolet!
Kate Miller-Wilson is a professional freelance SEO Web content writer, who specializes in web content, editing, and technical writing. Among her recent projects are content for a Dallas Commercial Real Estate company and for a Saginaw TX insurance agent.