Strategies for Finding Deals on New Vehicles

As year end sneaks up on us, 2012 cars will begin to fill the lots. This can mean good prices on new and used cars, as dealers make room for the latest and greatest.

We recently purchased a Chevrolet Traverse, as the result of much research and consideration. My husband and I are both analytical people by nature, so we approached this as a fact finding mission and were able to negotiate a good deal on our 2011 model, by careful research and planning.

It’s our first new car purchase as a couple, since we previously were buying used SUVs, which had lower mileage (under 15,000 miles), with warranties remaining, in order to take advantage of the cost benefits that go along with someone else taking the hit on the instant depreciation that occurs when you drive most cars off the lot. Edmunds offers a calculator that estimates individual deprecation here.

Here are some considerations when researching cars:

• How many passengers do you need to seat? In our case, we have a family of 4, which includes a bulky infant car seat and a booster seat, as well as a large Siberian Husky, who often accompanies us. We decided we needed a third row vehicle and this site offers some great research on available vehicles.
• Many people have likes and dislikes regarding manufacturers, but it’s a good idea to try to look past that and research individual vehicles, since quality can be markedly different over time and among different vehicles.
• Once you determine the vehicle, check sites like Craig’s List to see what private party sales of the used version of your vehicle are going for. Then, compare that to the dealer prices online. In our case, the used prices were nearly as high as the new prices.
• What is the maximum you are willing to spend? Within that, figure out your up-front cash outlay and any residual amount you intend to finance.

Find dealer incentives and financing:

You can use a site like cars.com to find deals near you. Here are some of the highest cashback incentives available by manufacturer, which are available in the Warren area (note that you must check with the dealer to verify these apply to your specific situation):

• Acura: $3,000 cashback on the ZD
• Buick: $5,600 cashback on the 2011 Regal or $4,250 cashback on the 2011 Enclave 
• Cadillac: $7,000 cashback on the 2011 STS
• Chevrolet: $6,625 cashback on th e 2011 Silverado 1500, $5,375 on select 2011 Tahoes
• Chrysler: $2,500 cashback on the 2011 200
• Dodge: $3,000 cashback on the 2011 Nitro
• Ford: $2,250 cashback on the 2011 Escape
• GMC: $6,726 cashback on the 2011 Sierra
• Honda: $1,250 cashback on the 2011 Pilot
• Hyundai: $3,500 cashback on the 2011 Equus
• Jeep: $3,000 cashback on the 2011 Liberty
• Kia: $3,500 cashback on the 2011 Sedona
• Nissan: $4,000 cashback on the Altima Hybrid

Estimate your trade-in value here.

Do your homework:
Look online and find the manufacturer suggested price. Know the used prices of your vehicle by searching dealers and private party listings. Make a worksheet and show what you expect to pay (the total amount of the car, the incentives you may be eligible for, the amount of cash you intend to put down and the amount you intend to finance).

Find and Compare Dealers:
Dealers in and around Warren can be found on this map.