Car Shopping On Black Friday

June 9th, 2020 by

Black Friday-a day after Thanksgiving-has become a holiday in its own right. Also buying and leasing a new car is a great time, with manufacturers claiming their place in the retail market with competitive deals on new vehicles.

The best thing about it? You don’t have to wait to get these deals in a post-thanksgiving turkey coma. They are now open, and most of them last till the end of the month. Despite interest rates gradually marching upward, now is a good time to lock up a low-interest rate and grab one of the zero percent interest rate deals that are quickly disappearing.

A wide selection of models are available on Black Friday lease deals and car-buying incentives Many new car lease or finance offers are limited to specific models or a percentage of dealer inventory by where you live Most are only available with excellent credit scores to customers.

Usually, dealers are eager to sell to clear current-year models off the lot in November and help close the year with the strongest possible sales And while you might find lower pricing much closer to the end of the year on some 2018 models, the range may be more limited.

Don’t Go Car Shopping On Black Friday

Millions of Americans claim that buying a car on Black Friday is like showing up to Best Buy early and getting a 70% off LCD TV. That’s not how it works. The actual Black Friday process of buying a car is no different or no better than buying a car at any other time of the year. Don’t be misled by Black Friday’s marketing blitz and blogs saying there are “33% more sales.” Not necessarily an advertised “deal” translates into savings.

Like any other store, on Black Friday, car dealerships will be packed. That means chaos and frustration marathon The dealers know the volume is going to be higher and some of them contract outside sellers whose primary purpose is to maximize the dealer’s profit That suggests that these people are particularly skilled in taking more of your money than you really need.

Although the dealership may have extra salesmen on the floor the management and finance staff will generally remain the same. That means longer wait times for the “I have to talk about the cost” issue with my manager and even more time to find out about your approval for financing.

While some of the best dealers want you to get in and out quickly with a smile on your face and a fair deal for your wallet, other retailers are taking advantage of waiting, hoping you will get stressed out and just grab whatever deal they offer you.

Start The Process For Rule 1 Now

So what you’re doing is getting started early to take advantage of Black Friday. As it is now. Your best bet is to avoid dealership negotiations Let’s say you’ve waited to decide to buy a car before Thanksgiving week: don’t worry, you can still hold the ball in your hand. Take a break from preparing your cookies and sweet potatoes to make a few phone calls and contact them.

Ask for a quote on your desired car and ask the dealer to write down everything. If they don’t (and some won’t), just move on to the next dealer. Discuss quotes, focus on the numbers outside the window. Many retailers will only open up with a great discount to compensate for it with high back-end charges and overpriced packages of accessories. Leases are a bit more complicated than a standard purchase so establishing the parameters and shopping this deal from your computer’s comfort is even more critical.

Figure Out What You Want

If you haven’t thought a lot about which car you’re going to buy and lease, do yourself a favor and do the research — even if that means you’re going to buy some more time You won’t be missing out on any deals Chances are whatever amazing price your friend got on Black Friday, with the end of the year sales you can get pretty close in December.

Buying a car is the second most expensive purchase that most people are going to make apart from home. A car is not something you purchase in a snap, unlike the newest electronic gadget or a two-for-one sweeter deal.

Don’t be fooled by cars with wild MSRP discounts; that often means the manufacturer won’t be able to market them any other way. There may be some great values out there, but you’ve got to do your research to see which cars are worth buying and which ones aren’t.

Remember: it doesn’t mean it’s a good deal just because a car is “cheap.” While there are very few objectively terrible new cars on the market these days, many models do not compare with their predecessors.

Don’t be fooled by cars with wild MSRP discounts; that often means the manufacturer won’t be able to market them any other way. There may be some great values out there, but you’ve got to do your research to see which cars are worth buying and which ones aren’t.

Be Prepared on Friday

The website makes it easier to buy a car now than ever before. With a little bit of work, there aren’t too many things you can’t figure out, such as the approximate value of your trade possible factory incentives and discounts, the cost of dealer invoices, and what most people pay for a specific car in your area. Have your homework done and be on top of everything.

Now before you all get fired up on your newfound skills, mind, if you can’t afford it, it’s not a big deal. Most car buyers end up having bad deals, not because the seller is slimy, but because the purchaser ended up having a car and a fee that was not ideal for their plan. Don’t get stuck in the monthly payment game— you’re in control of your own finances. Just a few taps away is a free auto loan calculator app, just what you can afford to spend wisely.

And you’ve been pre-approved for a loan already, right? Because the day after Thanksgiving you don’t want to spend at the mercy of any interest rate the dealer offers you. Pre-approvals give you the ability to be a cash buyer and leverage against the seller to get the highest APR you can.

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