If you time it correctly, a brand new luxury car could be in your near future. That magical moment when new models are hitting showrooms provides an opportunity for buyers to pick up a car from the previous model year at a serious bargain. Dealerships need the space in their showrooms, but they aren’t exactly shouting these specials from the rooftops. You have to know how to look. Don’t worry – we’ve got you covered.
The arrival of new model year vehicles always offers some deals, but it turns out that the automotive industry just had two especially tough years in a row. That means more stock and deeper discounts for you!
Why Vehicles are One Sale?
In 2017, car and truck manufacturers experienced a steep decline in new car sales. Overall numbers were down by about 30% from the previous year. But when 2018 arrived, these makers didn’t slow their roll, so to speak. New vehicles flooded out of manufacturing plants and overwhelmed dealer lots, only to experience another slow sales year.
Coupled with a decline in consumer confidence, this overstock situation has put a lot of pressure on dealerships. As 2019 models start to come in, dealers have become very highly motivated to get rid of some of their older model vehicles, including brand new top-of-the-line cars, trucks, SUVs, and crossovers.
But despite poor sales numbers and a serious overcrowding problem, dealers would still much prefer that their customers stroll in off the street and pay full price for their new car. This is probably no surprise to you. Many Americans put car shopping below root canals in terms of the things they look forward to doing.
How To Find a Great Deal?
So how do you find and take advantage of one of these great deals on a luxury vehicle? Well, like any good or service that’s tricky to locate, the answer is to go online. You probably won’t find a great deal posted on the marquee outside the dealership, nor will your salesperson come right out and offer it to you. But they do need to reduce inventory, and so they offer discounts on particular vehicles online.
If you’re flexible about the make and model of vehicle you buy, you may want to search by dealership. It can be very helpful for service purposes to choose a dealership relatively close to you, but be aware that the best deal might be a bit of a drive away.
On the other hand, if you know exactly what kind of car you’re looking for, search by that make and model. Then you can narrow down your dealership options, depending on how far from home you are willing to travel to make the purchase.
One of the most exciting things about the overstock situation is that it is occurring across most all types of vehicle. That includes both basic models and “fully loaded” vehicles. It is now entirely possible to find amazing deals on the sorts of luxury upgrades you never thought were in your reach. This includes custom finishes, leather seats, heated seats, incredible sound systems, entertainment packages, wifi, all the latest safety features, and more. You might also be able to snag free maintenance from truly motivated sellers.
So if you have been thinking about buying a new car “sometime soon,” that time is now!
Tricky Things You Must Know
The trick is to start your search online and seek out luxury vehicle dealers who are experiencing a high volume of stock. The pressure to sell these cars is especially high when the new model year cars start to come in. Many dealers are highly motivated, even though they won’t come out and tell you so.
Here is where things get tricky. It used to be that all new model year vehicles came out in the fall, making end of summer the ideal time to shop. However, there is no longer one unified model release season. Dealers could see new models from different manufacturers at any point.
Late summer is still the highest volume time, but it pays to keep your eyes on new developments from manufacturers you like. Great deals are also more plentiful on cars that are about to be discontinued or when a new design is soon to be released.
When you find the car, truck, or SUV that you want, call the dealer and ask them to hold it for you. At this point you must be willing to act quickly and get out there for a test drive. It is also wise to be prepared to sign on the dotted line right away. That means that you should have your financing arranged before heading to the dealer.
The dip in auto sales nationwide over the past two years creates a fantastic opportunity for you to both help the economy and treat yourself a little. So go get that luxury dream car you’ve always wanted. You’ve earned it by being such a savvy consumer!