Buying a car is a challenge, especially with today’s interest rates and uncertain supply.
Buyers should always do their research and ask questions.
Car dealers gave Business Insider some tips for getting the best deal.
We’re currently testing machine translations of articles by our US colleagues at Insider. This article has been automatically translated and checked by a real editor. We welcome feedback at the end of the article.
A car purchase is a difficult matter, especially in the face of high interest ratesuncertain inventories and the economic situation.
There are many things consumers can consider to make the right choice and get the best deal. First there are nine Questions you should always ask yourself when buying a car. You should also keep an eye on current prices, available inventory, supply chain, perks, and more.
Dealers who know the car buying market inside out have a few more tips on how best to close a deal and walk through the process.
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Customers have more opportunities to ask dealers questions
Car buyers haven’t had it easy in recent years, but the situation has improved in terms of inventory and buying incentives, said Patrick Beck, dealer chief at Bakersfield Hyundai in California. This means traders are more willing than ever to make a deal. Customers also have more leeway to ask about price than they did during the pandemic supply crisis.
“The best advice is, when it’s time, come and see what we’ve got together,” Beck said. “We want to build a relationship with you because we can sell to anyone in our market Auto sell and still go broke. We always have to sell you something.”
“We want to amaze you. We want to show you what we have to offer,” added Beck. “Just ask. We’re in the same shape as ever.”
Find out in advance, especially about credit options
Buyers need to be well informed, said Matthew Eldridge, product specialist at BMW in Tuscaloosa, Alabama. “What options do you really want? What options do you think you need? What options can you do without?” said Eldridge. It is important to think about all of these things before visiting a dealership to make a purchase.
Research is always important, but especially so with the lending. Customers should try reaching out to other lending institutions to see if they can get away from the higher interest rates that in-house financing could offer. “The dealership may not be able to give you what your credit union can give you,” he said.
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Don’t wait if you need a car now
Even if the market normalizes a bit, there are still hard-to-predict factors to keep in mind, according to Scott Kunes, COO of Kunes Auto and RV Group in the Midwest.
“Most manufacturers say that there are still bottlenecks in the supply chain. So I’m not expecting a day delivery like we used to see when there was really massive incentives to move those vehicles,” he said. “I think there’s still pent-up demand that could push supply back down.”
“In most cases, my advice is not to wait because of potential inventory shortages,” he added.
But if you can wait to buy, you should consider it
It depends on what a buyer values more. If he wants options, Kunes says now is the time. But if you can wait to buy, you might get better interest rates, perks and prices, said Adam Lee, chief executive officer of Lee Auto Malls in Maine.
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According to Kelley Blue Book, the average new car sold for $48,763 in February, down from $49,468 in January and $49,507 in December. This downtrend could continue as the economy becomes more uncertain.
“Wait if you can,” Lee said. “If you don’t absolutely now Auto buy it later because cars are very expensive at the moment.”
This article has been translated from English. You can find the original here.