Top 6 Tips to Find the Lowest Vehicle Prices in Town
Posted Monday, Sep 18, 2023
Since most American households own one or several cars, buying a car is one reality that you will face at some point in time. With new vehicle prices skyrocketing, it makes sense to use strategies that will help you save money rather than break the bank. Keeping that in mind, here are a few tips that should help you find the lowest vehicle prices in town when going through the car-buying process.
6 Tips to Uncover the Lowest Vehicle Price
1. Research the Market
Whether you go for a new vehicle or a used one, knowledge is power. Besides, knowing the various options and price gaps between models and vehicles is far better than walking into an auto dealership without having an idea of the options.
Online resources such as the Kelley Blue Book, Edmunds.com, and other resources are great places to find information on new and used vehicles, ranging from their cost to the different available variations, allowing you to make a more informed decision. For more granular information on vehicle pricing, you can try the National Automotive Dealers Association.
When it comes to the price of the vehicle, the goal is to not focus on the MSRP, but on the invoice price of the vehicle, which is what the dealership paid for the vehicle. While the price between the MSRP and the invoice price is close, it pays to know how much the dealership paid for the vehicle and how much they are willing to drop the price during the negotiation process.
2. Focus on the Condition of the Vehicle
Going with a vehicle from a big-name manufacturer that has many mechanical flaws is not a smart choice. It is best to choose a vehicle that needs a few minor cosmetic touchups and is mechanically sound but from a lesser-known brand. This is one of the main reasons why many folks choose to go with Japanese vehicles because they are far more reliable.
That said, you may want to look out for a "Honda or Toyota Tax" that may be charged by some dealerships because of the high reliability that the vehicles offer. The good news is these aren't the only Japanese manufacturers around, which means you can also choose from vehicle brands like Nissan, Mazda, and Mitsubishi.
3. Shop Around
There's no reason to try and rush the process when trying to find a car. Even if you've done your homework and have a good idea of the type of vehicle you're looking for and its price, it is always best to shop around at several dealerships. This will give you a good idea of their rock-bottom price, which is the price they'll throw at you as you're walking out the door. You can then use that price while negotiating at the next dealership.
While you're at it, don't write off the possibility of buying a new vehicle. This is especially advised for those buyers who plan on holding onto their car for at least a few years. Opting for a new vehicle means lesser chances of breakdowns or malfunctions, and even if they do happen, it will be under warranty.
4. Factor in Insurance
It's smart always to consider the cost of insurance as well when purchasing a new or used car. In fact, car insurance premiums are a major cost that needs to be included in the total price of the car. One of the best ways to ensure your costs are low is to shop around for insurance quotes as well during the car buying process.
You can start your search with the top auto insurance providers, such as Liberty Mutual and Allstate, but you will soon find that there are plenty of other options online. However, it's best to have a good idea of the vehicle you plan on buying when purchasing car insurance since the premiums will vary depending on the car make and model, whether it's new or used, and your driving record. For instance, vehicles by Toyota and Honda are a favorite with car thieves, which is why their insurance premiums are usually higher.
5. Be Patient
You won't always find vehicles at special discounted prices or year-end sales. Often, you'll be faced with a push car salesman. When that happens, it is important to stay firm and not be afraid to walk away if you find that the car and the deal are not worth it. If you want the car at a dealership in Davie, Florida but don't want to deal with a particular salesperson, just ask someone else to assist you with the information you need.
6. Less is More
If you're going for a fully loaded vehicle, you will have to pay what's on the fancy price tag. It doesn't matter if the paint job or the leather is not exactly the hue you prefer, sometimes, even trivial things can easily inflate the price of a vehicle. If all you need is a reliable vehicle for your daily commute, then the seating material, color, or manual transmission really doesn't matter. In short, there's no need to be a diva if you're on a budget!
Ending Note
It doesn't matter if you opt for a traditional auto dealership or a private seller; there are some tips that you can use to ensure that you are able to get the lowest vehicle prices in town. For more information and car-buying tips and to get access to a large inventory of pre-owned vehicles, you can always turn to reputable platforms such as Prime One Auto Sales LLC.
