With gas prices soaring, almost everyone feels the pinch in their wallets these days. If you decide that now is the time to buy a new car, however, you’re going to feel it even more. That’s because the average new car price is currently around $45,000 and some people are even paying ABOVE sticker price for a new vehicle.
Why Some People Are Paying Above Sticker Price For a New Car
Your first thought might be that these people are crazy. After all, don’t dealerships give discounts and sales incentives just to seal the deal? Can’t you wield your wild bargaining skills to knock a few thousand dollars off and pay below sticker price?
In the past, these were definitely all possible. Car dealerships were loaded with new cars of every make, model, size, and color and you could pick and choose what features you wanted. Now, however, the pickings are a bit slim on most new car lots. That’s primarily because the demand for new vehicles has been high but, thanks to a global chip shortage, supply has been low.
With a low supply but plenty of customers wanting new cars, dealerships no longer have to wheel and deal with customers to get them to buy. Instead, new cars are being sold within 19 days of their arrival on the lot (on average). And, to ensure they get the vehicle and features they want, many consumers are willing to pay above sticker price.
How Can YOU Avoid Paying Above Sticker Price?
No one really wants to spend more money on a vehicle than they absolutely have to. But, what do you do if you really need to change vehicles?
- Evaluate new vs. used – Maybe you don’t really need a brand new vehicle after all. Instead, perhaps a new-to-you vehicle, aka a used car, will do the trick instead. If you can find a great deal on a used vehicle, you may be able to save thousands of dollars and buy yourself some time until the new car market evens out.
A pre-purchase inspection by a reputable auto repair shop can help identify any potential problems with a used vehicle before you commit to buying it. While the inspection itself will cost something up front, you could be saving yourself a lot of money and headaches down the road by knowing if the used car you want to buy is a lemon or a great deal.
- Keep the car you already have – If you already own a vehicle and it still runs relatively well, consider whether or not you can make it last just a little longer. Oftentimes, simple repairs and preventative maintenance are significantly cheaper than a new car payment. You can still enjoy the convenience of a safe and reliable vehicle but not have to pay above sticker price for a new car.
- Brush up on your bargaining power – While new car dealers aren’t quite as likely to give you the great deals you may have enjoyed in the past, that doesn’t mean you can’t still get a relatively good deal. You may still have to pay above sticker price for a new car, but you may be able to get them to include extras like accessories and warranties in the price.
Also, check the value of your trade-in with Kelley Blue Book. Then, make sure the dealership gives you a fair price for your trade to help offset the higher price you’re paying on the new car of your choice.
Auto Repairs, Maintenance, and Sales in Tempe, AZ
For professional and reliable pre-purchase inspections, auto repairs, used car sales, and vehicle maintenance in Tempe, AZ, contact us at Good Works Auto Repair. We’re a top rated Tempe auto repair shop and we’re committed to helping you get the most out of your vehicle.
Schedule an appointment with us today for award-winning service!
Schedule My Appointment Now!
