Is Black Friday an ideal day to go shopping for cars? It truly depends on the approach you decide to take. These days, we’re looking for the best bargains. That’s the reason Black Friday has grown so large. Both in-person and online roughly 154 million of us went to the stores last year. We spent an average of nearly $300 per person according to CNN.
This might be the best time to purchase that vehicle you’ve always wanted. The following includes background on those Black Friday car deals and ways to secure your best savings.
November: An Unfortunate Month For Many Car Dealers
The weather’s getting cooler, the days shorter and people have turkey and the Holidays on their mind. They’re certainly not thinking about purchasing a new car. That’s the reason November is typically a lean period for car sales.
During this time, people begin thinking about finding bargains for the larger buys they’ve been holding off for the last couple of months. It’s why dealerships put out the banners and balloons at this time; activity is sparse and they’re looking for your business.
Recognize Why Sometimes There are Exceptional Incentives
Sales are how the retailer shifts inventory that’s struggling to move. Car sales aren’t any different. When you see a vehicle being advertised for thousands less than the listing price, look for the reason. Incentives and “rebates” are the same words used at different times: savings on the manufacturer’s suggested retail price (MSRP).
The main reason cars get discounted highly is because it’s the year’s previous model. Since midsummer, factories have been producing 2018’s, meaning 2017 model year cars are going to be difficult to move. That’s particularly apparent when a significant model change has happened like new engines or facelifts.
The best way to persuade the buyers to choose an earlier model GMC or Buick would be with an ample discount.
Always Review Fine Print on Dealer Advertisements
The wonderful deals you find advertised running up to Black Friday’s usually has some catches included. They may only apply to specific engines, trims or the cars they have on the lot. Other times the deals just apply to select groups like auto employees or veterans or just to specific financing factors like minimum credit scores.
The same things pertain to bonuses offered by dealers. They may be adding in a “free” TV or iPad with any purchased truck, but ensure you’ve looked over the qualifying criteria. You wouldn’t want to be asking for an advertised “freebie” to then be told you aren’t qualified.
Brace for the Hoards at the Dealerships
Understand that each showroom is going to be packed with people hunting for a deal. Most people don’t work and they’ve got plenty of free time and after seeing endless GMC and Buick commercials during TV football games, they are looking to make a purchase. Put simply, don’t expect to receive the salesman’s full attention or the chance to test a few vehicles around the block.
Do Your Homework
Identify what you want and the price you’re willing to pay. It’s best to let Google do the grunt work for you. Emailing dealers to get a quote ahead of time is a good idea as well. This way you’ll know if that deal you’re offered is really special or not. If you’re planning to test drive a few candidate cars, (it’s a good idea) see if you can finish this before the day comes.
It’ll mean you won’t have to wait and waste time for the car to become accessible. If you’ve just got free time on the day of the purchase, arrive ready with insurance and license information with you.
Another great suggestion is to go on the website of the dealerships you plan on visiting to verify the inventory. This way you can find the exact mix of color and trim that is going to satisfy your desires.
Determine Your Financing (Before Arrival!)
It speeds up the process if you’re able to get pre-approved for the loan. As another option, if you’d rather lease you can also do a bit of research into the deals out there. Keep in mind that some dealerships might be able to finance an offer better than you could receive from your bank.
It’s always good to check your credit score if you want to before entering the dealer’s lot because it will affect the terms offered. November’s somewhat late to start trying to lift your number up for your car shopping though. Still, there’s never a wrong time to boost your credit.
Don’t Assume You’ll Have Hours to Haggle Over Price
The car dealers will be occupied, so the best deal they have will be provided right away. Sitting on the sale for another hour is probably unlikely to lower the price as the limit will be already set in place.