GM Dealers Offering Huge Discounts
There's a perfect storm brewing this month for those interested in buying a GM vehicle (Chevrolet, Buick, Cadillac, or GMC).
GM has an incentives program that pays dealers cash bonuses at the end of each quarter IF they manage to sell at least one extra vehicle compared to the quarter from a year earlier.
The cash bonus is about $175 for each vehicle sold during the quarter. A dealer that sells 100 cars per month would get a bonus of around $50,000 if they qualify.
Think about that for a second. This is a win-or-lose bonus; a dealer either gets the entire bonus or gets nothing. Now imagine if a high-volume dealer only needs to sell a few more vehicles this month to qualify - they would literally be willing to give away the vehicles for free.
Here's where it gets even better. Last year around this time, GM had been offering large incentives, so sales this quarter are down about 2% compared to the same time last year. The majority of GM dealers are at risk of losing out on this bonus.
The quarter ends on March 31st. I urge you to contact as many GM dealers as possible between now and the end of the month and get as many price bids as you can. It's quite possible that you'll run into one or two dealers that need a few extra sales to hit this bonus. If you do, you're sure to land an incredible deal - and I'd love to hear about it.
A quick and easy way to get prices from multiple dealers is to use the free CarWoo Tool.
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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