A car dealer has unveiled five tactics that dealerships use to persuade customers to pay more for their vehicles. Ray Shefska, a seasoned car dealer with over four decades of experience, has urged drivers to arm themselves with crucial information to secure a more favorable deal. In a YouTube video featuring his son Zach, Ray guides viewers through a straightforward five-step process to reduce the price of their next vehicle. He emphasizes the significance of thorough research before even visiting a dealership. Meticulously researching the specific car you intend to purchase can often be accomplished through numerous free online resources. According to Ray, this approach can even result in a price below the car’s recommended retail price (RRP). The initial step involves delving into the car’s specifications and data. Vehicle insight services, which are frequently very affordable or even free online, can provide invaluable information. They can inform you of important details such as the number of your desired car in stock in your area, the number sold in recent months, and even suggest a fair price. For instance, if you discover that the car you’re considering is not selling well or that supply exceeds demand, you’re more likely to negotiate a discount. Therefore, target cars that dealers are struggling to sell (assuming there are no underlying issues) as they will often be more willing to reduce the price to secure a sale. Similar to the first point, determining how long a particular car has been on sale at your local dealership can significantly save you money. Dealers primarily want vehicles that sell quickly to avoid having them occupy space on their forecourts for extended periods. Vehicle insight websites once again come in handy. You can search for a specific model and find examples at local dealerships that have been on the lot for a considerable period. Ray explains, ‘Dealers aim to move their new cars within 60-75 days at most. They’d be more inclined to sell an older unit at a discount. It benefits both them and me.’ The first two steps should have already secured you a discount, but it’s crucial to understand how it’s structured. Manufacturers frequently offer incentives to dealers, enabling them to lower the car’s price to stimulate sales while maintaining their profit margin. Investigate whether there are any national or regional discounts applicable to the car you’re considering, including customer rebates and promotional offers. If a substantial portion of your discount is covered by one of these incentives, the dealership is not reducing the price as much as they potentially could. In such cases, present the figures to the dealer and attempt to persuade them to further reduce their margin for an additional discount. Forums can be an excellent resource for connecting with other drivers and discovering if anyone has secured a better deal that you can then present to your dealership. You can search by dealership franchise, model, or simply join an online car community to determine the current market value of a particular car. Numerous dedicated websites exist for this purpose, with Reddit also being a valuable option for casual buyers. For instance, if you discover that a customer in a nearby area purchased the same car as you at a lower price, you can request that your dealer match that offer. If they decline, consider taking your business to the other dealership for a better deal. Finally, Ray offers a valuable tip for negotiating a financing arrangement to purchase your car. According to recent statistics, approximately 80% of automobiles in the UK are purchased on finance, indicating that the majority of drivers must negotiate a loan. The automotive expert advises UK residents to secure pre-approval for a specific interest rate and term from a credit union, community bank, or other financial institution independent of the dealership. Similar to local price comparisons, you can present this offer to the dealership and ask them to surpass or match it. Again, if they decline, simply proceed with your independent offer, although it’s likely that the dealership will make an effort to provide a more competitive offer to earn commission from the transaction.
Car Dealer Reveals 5 Secrets to Get You Money Off Your Next Motor
