Sellers have the upper hand. Postponing your purchase may be the best option, but if you must buy a car now, remember these tips.
If you’re shopping for a new or used car in today’s overheated market, you’ll find that the game has changed. A variety of conditions have seemingly given sellers the upper hand.
1. Being unprepared This is a new car-buying environment and you may need to reset expectations. Here are the significant adjustments to be aware of before you can snag a car: Timing. With inventories so low, make sure you’re ready to buy when you find a car that’s available at a competitive price. “You snooze, you lose,” Drury says. “The days on the lot are getting to the lowest levels we’ve ever seen.” With today’s high demand and low supply, cars don’t sit on the lot and often sell before arrival.If you can’t find the car you want on the lot, ask what cars are being shipped to the dealership and reserve one.
4. Buying unnecessary extras With low inventories and high buyer demand, dealers are loading up their cars with profit-boosters, according to Oren Weintraub, president of Authority Auto, a concierge car-buying service in the Los Angeles area. Such upsells include additional warranties, antitheft devices and dealer add-ons such as mudguards and wheel locks.
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