The publication's experts outlined some practical tips for buying a new car in this challenging market
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It’s not a great time to buy a car. Prices are high — with the average new car costing close to $50,000 — and it’s hard to purchase a budget model without scores of bells and whistles.
"The buying experience keeps getting worse," said Consumer Reports’ Mike Quincy. "These days, dealerships are less likely to budge on pricing unless they have too many of a particular model in stock, or if they can make money off financing a vehicle," he said.
"Buying a new car should be exciting, but many dealers are still making it needlessly unpleasant,” he added.
That’s why Quincy and other experts at Consumer Reports created a guide full of tips for buying a car in today’s bleak landscape. Continue reading to see what they recommend.
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Flexibility will benefit you in all aspects of your search. The car you want might not be available, or you might need to wait months for it to be shipped to you, CR said. “Decide which options are important and whether a vehicle that lacks some of them means you should consider a different model,” CR wrote. Also, think broadly about where to buy it. Sellers a few hours away might have what you’re looking for if the dealership closer doesn't.
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If you’re looking to save money, an American-made car might be a good pick. New tax credits allow you to deduct $10,000 in loan interest if you buy a vehicle assembled in the U.S. That doesn’t limit you to American brands, either, as companies like BMW and Hyundai have plants in the U.S. that make qualifying cars.
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CR says the days of significantly negotiating down the price are gone. Be more realistic in your expectations. "Today, a good deal is one where you pay less than your neighbors did for the same car with the same equipment," Quincy said.
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Many dealerships won’t provide discounts unless you finance the car through them, CR said, meaning cash is no longer king. If you are financing, prearrange it before shopping. And don’t forget about the added destination fees.
