Car Shoppers Should Take Advantage of Low September Sales
Demand has been falling in the U.S. since 2007, thanks to the recession. In 2008, the sales rate for automobiles was at 13.2 million units - down from the previous year's rate of 16.2 million.
2009 has taken the plunge even further. For most of the year, demand has been hovering in the 10 million range. Even the Cash-for-Clunkers program couldn't save it - it boosted the sales rate up to only 13.7 million in August.
Now that Cash-for-Clunkers is over, fewer buyers are purchasing cars. Demand already plummeted to 8.9 million in the beginning of September, and the trend is only continuing.
While this is bad news for dealers, buyers have a lot to look forward to in the coming months.
Average prices for automobiles have already fallen from $1,494 to $1,303 since Cash-for-Clunkers ended. Car makers have increased production to make up for the depleted inventories due to the government program.
If the trend continues, there's going to be too many vehicles on dealer lots again. Expect incentives to go up as well as deal making starting in October.
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