When you buy a new automobile these days, it may feel a lot like you’re handing over a large gratuity to the dealership.
According to a new study from Edmunds.com, 82 percent of people are willing to pay more than the sticker price for new vehicles up to that point. This compares to 2.8 percent a year ago and 0.3 percent in the first quarter of next year.
According to the most recent data from the U.S. Bureau of Labor Statistics, customers have mostly been forced to deal with higher prices as a result of the auto industry’s continuing issues with limited inventory as a result of an ongoing computer chip shortage.
When you buy a new automobile these days, it may feel a lot like you’re handing over a large gratuity to the dealership.
According to a new study from Edmunds.com, 82 percent of people are willing to pay more than the sticker price for new vehicles up to that point. This compares to 2.8 percent a year ago and 0.3 percent in the first quarter of next year.
According to the most recent data from the U.S. Bureau of Labor Statistics, customers have mostly been forced to deal with higher prices as a result of the auto industry’s continuing issues with limited inventory as a result of an ongoing computer chip shortage.
You may also choose to broaden the scope of your search, which could result in a more diverse set of results. If you’re dealing with markups that are more than MSRP, Drury recommends negotiating an upward adjustment that includes add-ons such as warranties, service contracts, protection packages, and dealer-installed accessories.
If you have a trade-in vehicle, make use of it, he advised.
“The worth of your car is one of your most powerful negotiating tools when it comes to offsetting the purchase price of your future vehicle,” Drury explained.
According to J.D. Power, the average trade-in value hit $9,852 in January, an increase of $4,611 or 88 percent from the same month the previous year.