GM and Chrysler to Dump 3,400 Dealerships: Prices Will Drop
Chrysler will terminate 789 dealerships by June 9th (roughly 25% of their total) while GM wants to shut down a whopping 42% of their dealerships by the end of 2010.
In the long run, this will allow surviving dealerships to raise prices since there will be less competition, but in the short term, there are some screaming deals to be had, especially for Chrysler vehicles. Chrysler dealers have to get rid of their inventory by June 9th, and you can be sure they'll be offering some incredible deals.
Chrysler has released a list of dealerships that will be shutting. Here's a couple of great Google Maps showing which dealers are going to be shut down in your area. Make sure to contact these dealers to see what kind of prices they're willing to offer.
If you're looking to buy a Chrysler or GM, now is a screaming opportunity to get a great deal.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and Ryde Shopper 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.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid