It’s hard not to notice when car dealers are pushing their
holiday specials. They’re on every radio station, on the television, and there
are balloons on every dealers’ lot with big signs that say, “SALE,”
and “This offer ends soon!”
But are these holiday specials actually worth it?
The easy answer is no, these deals usually aren’t worth the hassle. Though
every situation is different, by far and large, these deals are more often a
gimmick to create a sense of urgency rather than offering anything of value
beyond what a customer would get during other times of the year.
Although dealerships are, for the most part, stand up businesses, there is
still a lot of smoke and mirrors in the auto industry. The internet is helping
even the playing field but, until recently, it has been the dealerships and
manufacturers who’ve been holding the upper hand. A prospective customer’s best
chance has always been the ability to tell a dealership they were NOT buying
today and, to some degree, that is still true today.
A customer has more information at their fingertips than ever before, and
whether it’s the holiday specials, the improved interest rates on auto loans,
or a specific combination of features that a customer desires, the internet is
the customer’s best friend.
The most important thing a customer can do is their research. Finding out
everything they can about the cars they’re interested in, what auto loans
manufacturers are offering, and whether or not there are competitive deals
nearby, all give a customer an advantage when shopping for cars.
As for those holiday deals? Unless you know the market inside and out, there’s
a chance that the dealer is placing a lot of hype on something in order to
convince you that buying today is in your best interest.
The best time to do business with any auto dealer is at the end of the month.
If this happens to coincide with a holiday, all the better. When you take into
account most dealers get bonuses for selling volume, this concept makes a lot
of sense. If you can look at the dealership’s sales board, (e.g., usually a
whiteboard showing how many cars they’ve sold that month) you’ll have a better
understanding of where the dealership is in relation to its goals, and then you
can leverage them for a better deal.
Pitting dealerships against one another is also another way to leverage your
best deal; when the competition is stiff, you know you’re the one walking away
having paid the least money possible.
So, whether it’s the best possible time to buy or not, a holiday special is one
tool dealerships use to convince customers that “now” is the best
time to buy, and the sensible shopper uses every resource available to leverage
a better deal.
Whether it’s the special auto loans a dealer is offering or an incentivized
sale price, you can bet that you’ll get your best deal by keeping a level head
and remembering that you always have the ability to walk away from any deal
offered.
