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.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow 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