Quick bonus tips when buying a vehicle (car/truck/ATV/etc.)
You probably already know the basics when purchasing a new vehicle, so here are a few bonus things to remember that could otherwise slip your mind when you’re closing the deal…
#1 realize that a dealer sometimes gets extra incentives/bonuses for selling a vehicle
Some vehicle manufacturers offer dealers incentives for selling a certain number of vehicles, or a certain dollar amount of product. Therefore, if a dealer is one car away from meeting his incentive goal and this is the last day for meeting the goal, then he may be willing to sell a vehicle for below cost because that sale will put him over his quota and allow him to make plenty of money overall due to the additional incentives that he now qualifies for.
Likewise, manufacturers may provide bonuses for the dealer if the car is sold with financing, the dealer gets a bonus and the the manufacturer’s financing division gets a new customer.
Real-world application: don’t be too concerned for the dealer’s well-being if the dealer is selling the car “at cost” or “below cost”, he most likely has an incentive that will make up for it.
#2 it doesn’t hurt to ask for extras, add-ins or throw-ins
Examples: all-weather mats, full service manual for your vehicle, towing-package, etc.
Rationale: Most dealers seem willing to throw-in a little bit extra to seal the deal.
#3 see if they can do a parts discount or even a service discount
Especially if you are purchasing an ATV, motorcycle, or other similar vehicle where you anticipate needing parts or upgrades. Some dealers will do 5%-15% on future parts purchases. It may be also possible to get a discount on future vehicle service.
Rationale: These days, the markup on vehicles seems to be less than in the past so that can limit the dealers ability to bargain there… however, they generally still have a VERY healthy markup on parts. Therefore they may be willing to work with you on that. Just make sure to get it in writing!
NOTE: auto dealers selling Ford, GMC, Chevy, etc may be a bit limited in what they do with these types of discounts, however, you may have great luck for other types of non-car vehicles like Polaris, Honda, and even farm dealerships like John Deere, Kubota, etc. Some of those utility vehicle or tractor parts can get expensive down the road and a discount can be a big help!
#4 see if you can get the vehicle you want WITHOUT the dealer emblems/logos, or if they will remove them for you for free
This is a minor thing, and falls under the “throw in” category, but it’s something I’ve forgotten more than once. And I am not a fan of giving companies free advertising on my vehicles.
I hope these tips are helpful to you, if you have some tips of your own then please share them in the comments below! Thanks and happy car shopping. 🙂