When you’re young and looking at a big purchase, someone told you to sleep on the decision to make sure you don’t jump on something too fast. It probably came up when you were looking for a new car, one of the priciest items you can buy. However, experts say that there are some times when you need to strike while the iron’s hot instead of walking out the dealership door.
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Matt Jones of Edmunds says that you might think dealership staff is trying to trick you when they give you an offer that expires quickly. While you should be aware of how much that car you want to buy usually costs so you don’t get misled, you shouldn’t shrug off deals from dealership staff automatically. For instance, if you’re looking for a new car at the end of the month, your salesperson might say that they will offer you a great deal but it expires at the end of the business day so they can meet sales quotas. While it might sound like something too good to be true, it probably is very real pressure the dealer feels from their management or manufacturer.
Usually, dealerships get special deals from the manufacturers to pass on to customers at the beginning of the month, like bonus cash and factory bonuses. They tend to expire at the end of the month with no exceptions. On top of that, manufacturers can push their dealerships to sell a number of a particular model every month. If the store you go to is close to the goal at the end of the month and needs a boost to qualify for goodies or extra money from the manufacturer, they might offer you an extreme discount to make you commit.
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Any time a salesperson makes you an offer, ask them how long it’s good for. If you don’t have time to go home and mull it over, consider signing on the dotted line. It’s instances that make preparation before you walk into a dealership key to helping you spot good deals and ones to leave on the table.
News Source: Edmunds
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