How to Capitalize on Unsold Vehicle Inventory
If you’re looking for a new car, you might wonder if now is the time to buy. After all, auto dealers are facing a glut of unsold vehicles from last year’s inventory and are willing to clear out their stock of last year’s models to make room for the new ones. You can definitely get a good deal on an unsold vehicle; however, there are key things to consider before making your purchase: 1. First determine the market value of the vehicle Even if a vehicle is unsold, that doesn’t mean the dealer is willing to let it go for nothing. To understand what sort of deal you might be able to expect, research the market value of the vehicle in question. You can do this by checking online pricing guides or visiting websites like Kelley Blue Book or Edmunds.com that provide estimates of a car’s worth based on its make, model, and year. Once you know the market value, you’ll have a better idea of how much wiggle room the dealer has when negotiating a price. Remember that dealers are motivated to sell last year’s inventory and may be willing to offer significant discounts. Knowing any hidden expenses associated with the purchase, such as dealer fees or extended warranties, is also important.