Hold Off Buying These Cars Until Year End
This year, an unexpected increase in car sales has created an inventory shortage for some models. Car shoppers are having a more difficult time finding the ones they want in stock.
When demand is higher than supply, prices will rise - and that's exactly what's been happening in recent months. For example, many consumers are paying full MSRP or more for the Hyundai Elantra.
To increase production, several manufacturers are now planning to add 3rd shifts at their assembly plants. This will help ease the inventory shortage and make it easier to negotiate better deals, but you'll have to wait until year end to take advantage of the situation.
End of year happens to be the best time to buy a new car anyway, so this added bonus will just make it even better.
To give you an example, Hyundai's 3rd shift will begin in September and will produce an additional 20,000 vehicles by year end. There's no guarantee that prices will drop dramatically, but your best bet is to wait until then before purchasing.
Here is the full list of models that will become more plentiful by year end:
|Brand||Model||Production Increase Begins|
|Ford||Escape||Second half of 2012|
|Chrysler||Grand Cherokee||November 2012|
|Volkswagen||Passat||End of 2012|
If you can't wait until year-end to purchase, then at least use the CarWoo Deal Finder to get the best prices right now.
My Recommendation for Car ShoppersTrueCar No-Haggle, Edmunds Price Promise, 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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