Toyota Sales Slump is Good News For Buyers
Even with huge incentives, Toyota sales have dropped in early May. Though effective at first, the impact of these incentives has been short-lived, surprising analysts who expected strong sales into June, when the incentives are slated to end.
Edmunds reports that Toyota's incentives seem to be less effective than before, as "Toyota's sales have dropped 17 percent compared to April, 2010".
More good news for buyers: Toyota and Ford are locked in a contest for the #1 sales brand in the US. Which means that for Toyota to keep pace, they'll most likely be offering even larger incentives in the coming months.
However, good deals are here now. Toyota's slow sales in May puts buyers in a strong bargaining position -- on top of the deals and incentives already available.
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