It’s New Year’s Eve: Let’s Make a Deal!
As 2017 draws to a close, car dealerships are anxious to empty their inventory, make those year-end sales goals and gear up for 2018. Dealerships are also anticipating the slower sales months of January and February. What does all of this mean for you? DEALS! We’ve said it before and we’ll say it again, the best days to shop for a new car are New Year’s Eve and New Year’s Day. And we’re not alone. US News and World Report and Consumer Reports agree.
Cash back? Yes, please.
The best deals on new cars this month run the full spectrum from economy to luxury cars. Close-out deals on 2017 models are offering cash back incentives. Here are a few you’ll find in the US News and World Report list, but note, many of these offers expire on January 2nd:
- 2017 Buick Enclave – cash back deals ranging from $3,000 to $5,000
- 2017 Chrysler Pacifica – 0% financing for 72 months plus $1,000 cash back
- 2017 GMC Acadia – cash back deals ranging from $4,000 to $5,000
And for 2018 models there are plenty of financing and cash back incentives too, here’s a sample:
- 2018 Kia Optima – 0% financing for 60 months plus $1,500 cash back
- 2018 Lexus LC – 1.9% financing for 72 months (Midwest, Southeast, Northeast, Gulf States, West) and cash back incentive of $5,000 (Northeast)
- 2018 Subaru Outback – 0% financing for 63 months
- 2018 Volvo XC90 – $5,000 cash back
You can review the full list of deals in the report here.
Consumer Reports agrees that the New Year is a great time to buy a car and its best-deals list includes the BMW i3, the Toyota Highlander Hybrid an
d Prius Prime, each with potential savings of $6,800 or more. Also, keep in mind, plug-ins can carry the additional benefit of a federal tax credit, for qualified buyers, that could be claimed on the upcoming tax filing season if bought before January 1st. You can review the full Consumer Report deal list here.
Our tips on how to get the best deal
So how do you know these are good deals? Of course, research and good advice are key, and being prepared when you start to talk to a car dealer is critical to not walking away with the wrong car or a bad deal.
Before going to the dealership you need to know how to prepare, how to negotiate, what the dealer is thinking, how to get the best deal, how to get an even deeper discount, and how not to regret your purchase. Automotive deal expert, Nicole Markson, offers these tips:
- Make a car purchase plan
- Know your credit score and finance options before you start shopping
- Don’t fall for the advertised price
- Don’t be a dealership “drop-in”
- Lease or Buy? Look closely at all deals
- Ask three times “Is this the best rate you have? “Are you sure you can’t do better than this?” “Is this the best you can do?”
- Get to the top fast—ask to speak with the manager when you start negotiations
- Keep your budget to yourself
- Don’t get emotional
- Get the deal in writing and understand your paperwork and contracts
A few more tips before you drive away
When my husband buys a car, he researches EVERYTHING. I don’t have the patience, but I do appreciate that he does, which means we get the right car for us at the right price. Be sure you do your research before you shop—or find someone you trust to do it for you.
Taking the car out for a test drive is an important step in the purchasing process. Be sure you get the full experience; don’t just drive around the block—take it through your daily grind.
And finally, if you’re not feeling the love, don’t succumb to the pressure, step away. A deal isn’t a deal if you end up with a car you don’t want.
Happy shopping and a very Happy New Year from AGirlsGuidetoCars!