Incentives Rising on Luxury Vehicles
During an analyst webcast last week, the CFO of BMW said "... the pressure on the pricing front has increased. When it will end is, at the moment, not clear".
BMW won the sales race last year to become the best-selling luxury brand in the U.S. Lexus had held the crown for at least the past decade, and now that their production is back to normal, they're wanting the title back this year.
Lexus is currently offering $1,500 to any buyer that switches from a competing brand. The offer is good for nearly all of their models.
Audi is offering a $3,000 loyalty bonus to current Audi owners when they purchase a new A8. They're offering $2,000 on the A6, A7, and Q7 models.
The Mercedes-Benz E-Class currently comes with a $2,000 loyalty bonus and the Range Rover comes with a $1,500 bonus.
Now seems to be a good time to be shopping for a luxury vehicle. Make sure to use the CarWoo Negotiation Tool to get the best price.
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