The week between Christmas and New Year’s is arguably the busiest month of the year for new car sales and amounts to as much as 70% of December’s sales. Sure there are huge rebates and low finance rates for the consumer but the profit driven auto dealer compensates for these consumer savings by jacking up the sale price and offering an unfair amount for your trade-in so he can still make a profit from you.
Car dealers prey on consumers during this period because they have time-off to shop, end-of-year bonuses to spend, and are generally in an uplifted buying mood due to the holidays. If you are purchasing a new car, avoid scams by following these simple tips from CARCHEX:
New Car Buyer Tip #1:
Do your homework and determine the best make and model for your needs.
New Car Buyer Tip #2:
Research rebates and incentives on the vehicle of your choice.
New Car Buyer Tip #3:
If you are trading in your old vehicle, make sure you know your car’s wholesale price, not retail. Check on Kelley Blue Book to find an estimated value.
New Car Buyer Tip #4:
Shop on a Tuesday or Wednesday because they are typically the slowest days for the dealer.
New Car Buyer Tip #5:
Get pre-approved with a loan from your bank or credit union.
New Car Buyer Tip #6:
Don’t be afraid to walk away! Remember, you have the upper hand because there are tons of car dealerships waiting for you to walk through their doors and buy a car.
At CARCHEX, our best advice is to purchase a preowned vehicle and an extended auto warranty to save yourself money and prevent dealership scams. If you insist on buying a new car, eliminate as much impulsiveness and emotion by doing your homework and following our tips from to prevent scams.
