4 Hacks To Get The Most From Your Car Deals

November 4, 2021
Advice, Automotive

Buying a car is said to be one of the major financial decisions you’re going to make – may it be the first time you do so or each time you make another purchase. Unless you belong to the upper one percent who have tons of money, you’re going to have to make the most of your finances to maximize your car deal. So many people go to dealer showrooms without the slightest idea of what they want or how they can make the most of their money which leads to them losing out.

If you’re looking for tips on how to hack your way with your car dealer and score a great deal, browse around here. There are numerous ways to make your dealer offer you the best discounts and offers that could save you a huge amount of money. It’s not just a simple ‘walk into the dealer showroom and pick the car that you want’ process. Here are a few suggested hacks on how to get the most from your car deals

  • Dangle The ‘Switch’ Option

One of the hacks to get the most from your latest car deal is by dangling that thing that car manufacturers and dealers want the most fiercely – stealing a customer from their competition. Most car manufacturers and dealers would love the prospect of winning over a car owner of a competitor brand to purchase one of their own cars. It’s like a double win for them.

Conquest discounts are devised to entice prospective car buyers to make the switch. The good thing about this is that you can stack this on top of the other discounts. Of course, you still have to know how to choose a car that fits you.

For example, if you own a car of a certain brand, the competitor car manufacturer would offer you somewhere from a couple of hundred to a few thousand dollars of discount to change car models. This is also offered to those who lease their current cars. Oftentimes though you’ll have to own or lease a certain class of cars so you can be eligible for conquest discount offers.

  • Discuss The ‘Stay With Them’ Choice

The flipside of the ‘switch-to-a-new-brand’ move is of course the option to stay with your current manufacturer. You can get huge discounts from your current car company if you hint that you’d be willing to stay with them if they could match or top the offer you’re getting from their competition. Some manufacturers would even be willing to let you out of your current lease package and offer you one from their latest lines.

For instance, some car brands would be willing to waive up to three months of payments on the remainder of your current lease. You can also stack this with the other discounts and offers that you get from them to maximize your savings. Some brands also offer what they call loyalty bonuses to keep you to themselves as their customer.

  • Ask Around For Affinity Discounts

If you’re working for a large company or multinational corporation, your employer usually has affinity discounts with some vehicle manufacturers and brands.

You can leverage your employer’s relationships when you’re shopping around for your next car. Some car companies have forged sales relationships with large organizations. You can also ask for help from your company’s managers to send affinity discount letters to your preferred car dealer. Affinity discounts can save you a lot of money.

An example of the affinity discount is the plan pricing offered by some car manufacturers for employees and suppliers of specified businesses. They’re also sometimes called friends and family discounts. This would give you preset savings that would be on top of all the other discounts you’d get off the invoice price quoted by the dealer.

Some manufacturers even offer supplier pricing to companies that do business with them. This is a kind of reward scheme for their own partners. There are also other discounts targeted to specific groups of people such as the educator discount, college discount, military discount, and others. Check out what discounts you can avail with your affinities by asking around for details.

  • Make Their Financing Leverage Work For You

Another way to hack your car deals is by using your car dealer to get you the best financing or loan package. Most car dealers have existing long-term and special relationships with banks and financing companies. Since they do a lot of business with these financial agencies, your car dealer often enjoys special loan interest rates and discounts. These are rates that you may never see in your life as an individual loan applicant.

If you apply for a car loan on your own from these lenders, you’d most likely be offered what they usually quote to their regular walk-in clients. But you can hack your way around this by using the leverage of your car dealer. Ask them to help you get quotes from as many banks as possible and to negotiate on your behalf for lower interest rates and better loan terms.

Make Dealers Compete For Your Money

There are quite a number of ways to hack the car buying process to get the most from most car dealers. Some of them include hinting to a dealer that you can switch to them for the right offer, using affinity discounts, and the like. It’s highly advised to check all of your options first and how the number play out before deciding on an advantageous purchase deal for your new or next vehicle.