Are you looking for a discount on a Chevy this Black Friday? That can be a great idea if you keep a 7 things in mind. One of the biggest factors will be the Chevy dealer’s incentives. This guide will also show you how to show up prepared to make a killer deal.
1. Car Shopping In November Can Be Very
The volume of auto sales goes down in November. Less people want to venture into the cold to find a new vehicle. This means they have inventory they are desperate to get rid of. It also helps that the new year is approaching and the dealership will have to get a whole new fleet of vehicles.
Many other people are looking to buy electronics and recliners in November. Fewer people are out looking to buy a car. This forces auto-dealers to compensate with seasonal discounts and special events. It’s always best to buy when you have the upper hand.
They see Black Friday as the perfect chance to unload since they’ll have a flood of much needed leads.
2. Look Into Their Incentives
Certain times of the year means there will be different rebates. The end of the month is a perfect example. If they only have one more Chevrolet sedan to sell, they will be itching for a deal. The car’s manufacturer often has quotas for how many cars their dealerships must sell for rebates.
All sellers want to get this since they can get thousands of dollars off. If you are one of the last car buyers to help them reach their number, they’ll give you a discount since they will be reimbursed.
Other times a specific type of car isn’t in demand. It could be due to gas prices. For example, low gas prices means that trucks and SUVs will sell more quickly. Higher gas prices means that midsize and small cars will be in more demand.
They don’t want to keep paying to park a vehicle in their lot. Leaving an unsold car is burning a hole in a dealership’s pocket. Look for cars that aren’t in high demand from other drivers and you can get a big discount.
Here’s an in-depth guide on rebates.
3. Study The Fine Print
Many dealers offer “big discounts” in their commercials. Sometimes the truth is hidden in the fine details. There can be conditions like having to buy extra features hidden in the fine print. Other times you may have to belong to a group like veterans to get the discount.
Many times these free things are just a way to get people in the door.
4. Prepare Ahead Of Time
The holiday rush can bring tons of people in looking to snag juicy deals. Stand apart from the crowd by already knowing what you want. This will help you walk up to a sales rep and demonstrate you know what you want. They’ll be more likely to help you first since you’ll take less time.
You’ll also be harder to mislead. Some sales reps promise things that aren’t true, doing your research ahead of time can put a stop to that.
5. Get Pre-Approved And Know Your Credit
Another way to speed up your chances is to have you loan pre-approved. This can give a bargaining chip to get an even better financing deal from the dealership. It’ll also show you’re ready for business.
Check your credit score too. It’ll make a huge difference on the rates your loan will be eligible for. Prepare months in advance by clearing your debt payments as much as possible. Aim for a score over 720 for the best rates.
You legally can run a free score once a year with:
Stagger them every four months to know your score for free. For example, you could check Equifax in January, Experian in May, and TransUnion in October. This will give you good snapshots on how your score is doing.
Feel free to click here if you’d like a bit deeper of a look at boosting credit scores.
6. They’re Too Busy To Haggle
Expect them to quickly make a deal if they can profit. They are afraid to miss out on other sales. Stick to your position and make them an offer that is hard to refuse. Don’t go for a complete low-ball offer.
7. Research The Car You Really Want
It is a wise idea to look up the value of cars on Kelley Blue Book. Edmund’s is a great way to compare the prices and perks of many different cars. You can look them up by make and type such as a Chevrolet SUV. Make you offers at the lower end of the price range. Just don’t try to really low ball since they are unlikely to need to stoop that low.
Recapping The Essentials Of Car Shopping On Black Friday
Those who come prepared tend to win the day. Get your credit in line and get pre-approved. Know what you’re looking for and what it tends to go for. The end of the year can be a ripe time for deals.
Understand the psychology of a seller with high overhead expenses. They need to unload this month and next year’s inventory. Otherwise they will lose tens of thousands of dollars in rebates and inventory costs. Be mentally ready and don’t be intimidated to ask for a great deal.