Labor Day Car Shopping

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Written by Dennis LeMire

Friday, 03 September 2010 15:26

Labor Day "Sales" or "Sales?"

Labor day weekend is here and we all know what that means, the HUGE SALE begins!  Is it really a huge sale though?  What do people need to know when setting out this weekend to find that amazing deal?

Let me start off with a disclaimer:  We are professional car buyers and negotiators.  We negotiate car deals and pricing every single day, and we have years of experience selling cars at major dealerships, so we understand how the process works.  The tips I am sharing here will not make you an expert, please do not get angry at LC if you take the things I am saying and have a bad experience at a dealership this weekend.

Now that we have that out of the way let's talk about Labor Day weekend.  This time of year buyers of certain vehicles gain a distinct advantage over the dealers.  New model year vehicles are coming onto the lots and the older ones have to go.  Not all models will be overstocked, so rushing out to get a great deal on that very hard to get new car may not go perfectly for you.  Manufacturers will also be rolling out new incentives and finance offers to encourage buying on outgoing models.  All of this typically spurs one final push to purchase before winter sets in and we all go into spending hibernation.  If you decide to go at it alone this Labor Day weekend, here are some things to think about:

1.  The Sleepers

You are on the prowl for a sweet deal on a Toyota Camry and just can't seem to find a "huge sale" for the one you want.  Many people will throw more money at the problem and pay more for the car they really, really want.  We recommend stopping and calling us, of course.  If you still don't want our help, stop and look around.  There are a lot of vehicles on the market right now that compete very well against the class leaders.  Some of them are going to offer more features and benefits for less money.  The Toyota Camry doesn't need more features and special pricing to sell.  It has sold well for the last two decades all by itself.  That doesn't mean a good deal on a Camry can not be found, but it may be worth your time to look at some other options before going that route.  Many shoppers actually find a model they hadn't considered fits their budget and taste better.

2.  Rich People Buy New

There are some great used car deals in the market right now.  At the same time, a lot of people are shopping for a 2-3 year old used mini-van with low miles in great condition.  As all of us know from junior year economics, high demand and low supply equals higher pricing.  We have successfully negotiated quite a few customers into new cars that ended up being cheaper than the used ones they were looking at.  Make sure you examine pricing on a new car before you buy that two year old cream puff you are looking at.  It's possible you could be missing a great opportunity.

3.  The "GREAT DEAL"

"It was too good of a deal to pass up."

"I've never seen them priced this low."
"We have been looking for months and this one is a steal!"

"It was just perfect and I beat them up for hours on the price."

However you want to word it, you understand the intent.  Remember something when you find yourself thinking one of the above thoughts:  The car dealers job is to make you "feel" like you got a good deal.  You may have gotten a good deal, and you may not have.  Either way it is their job to make sure you feel like you did.  Is it really a good deal though?  No matter how many car deals you have negotiated in your life, you do not do it as well as the people across the table from you when you sit down at a dealership.  Believing you do is the first step to paying to much.  So how can you be sure?  One way would be using our "Beat My Deal" service.  Bring us the written price and let us shop it for you.  If we can't beat the deal, it is a great one and you can sleep well at night.  The other way is research.  Spend the time to research everything about the vehicle and the price before buying.  If you walk onto a lot, look at a vehicle for the first time and drive off the lot that same day, you probably paid too much.  Many people think negotiating money off of the dealers asking price means you have yourself a good deal.  How do you know the asking price is reasonable?   If the price is $2000 over market value and you negotiate $1500 off, you feel pretty good.  Reality sets in later and you realize you spent $500 more than even the average buyer pays.  On the other foot you may walk away from a deal just because the dealer will not move off of their asking price, only to find out that price was very aggressive in the first place and you missed a great deal.  Time spent on research will lesson the chances you make a costly mistake.

Those are three things to keep in mind when shopping this Labor Day and in the next few weeks.  The deals will be out there, and there will be some great purchases made.  There will also be some really bad decisions made.  I field four or five calls a day from people that need advice on how to get out of a bad car buying situation.  Some of them we can help and others are stuck paying for a mistake that could have been avoided.  As always I am available for a free consultation or even just some friendly advice if you find you need it.  

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