zzdcar
Home
/
Reviews
/
Buying
/
Is It Worth Trying To Buy A Car Right Now When All Of The Deals Stink?
Is It Worth Trying To Buy A Car Right Now When All Of The Deals Stink?-May 2024
2024-02-19 EST 22:09:32

Image for article titled Is It Worth Trying To Buy A Car Right Now When All Of The Deals Stink?

As Jalopnik’s resident car-buying expert and a professional car shopper, I get emails. Lots of emails. I’ve picked a few of your questions and will try to help out. This week we are discussing two conundrums regarding the current seller’s market for both new and used cars.

“I’m in the market for a new Chevy Suburban and almost every dealer I call tells me that either they don’t have what I want or that the price is going to be full MSRP, plus whatever rebates are being offered. I can probably afford to wait another month or so but if the prices aren’t going to get any better maybe I should just act now? It just sucks to pay full sticker for a “normal” car.”

The inventory issues that mostly due to the semiconductor shortage seem to be affecting domestic brands the worst, and large SUVs like Tahoes, Suburbans and Expeditions are feeling an even tighter squeeze. I’ve handled a few transactions recently on these cars, and just finding the right unit is a challenge, let alone getting the bottom-dollar price.

Our friends at CarGurus recently sent me some tips for navigating this difficult market. This is via Matt Smith, deputy editor of CarGurus:

“ One tactic shoppers can consider when shopping for a vehicle is to increase their search radius. Expanding the hunt from 25 or 50 miles to 75 or even 100 miles will help cast a wider net, snaring more options. If shoppers are comfortable handling negotiations remotely, many dealerships now offer delivery through the CarGurus platform — including a seven-day return period if the vehicle doesn’t meet the expectations laid out in the advertisement.

Motivated shoppers may consider loosening their search criteria. Determining needs versus wants will help increase the number of applicable vehicles within a search radius. Prioritizing those wants will help shoppers determine which ones are worth holding out for or which ones are worth bumping up the budget to accommodate. Criteria that shoppers may be willing to flex on include vehicle color, mileage, various features and even the type of dealership.

When a vehicle that fits the shopper’s criteria does appear, it’s in the shopper’s best interest to act quickly. Lining up financing ahead of time can give them a head start. Shoppers should also be ready to send an inquiry on an interesting vehicle when they know they’ll have plenty of time to respond to email, answer phone calls and take time to negotiate.

Finally, shoppers shouldn’t view a low-supply situation as a reason not to negotiate. Whenever possible, they should still request a test drive. Remember that all parts of the deal — from sale price to finance rates to extended warranties — are negotiable. And, of course, shoppers with a vehicle to trade are in a fortuitous position: Dealerships with low supply will be eager to bring in inventory off of trades, and will often pay top dollar.”

While all of that is helpful, I am finding on certain vehicles like these large SUVs that even casting your net nationwide doesn’t necessarily result in a better deal. But it may result in finding a better match for your specifications.

I don’t think we are going to see a market correction within the next month or so, but it’s possible that things will stabilize in the fall. So the question really becomes, is it more important for you to get what you want now or to feel like you got a great deal? Because a good price is relative to the market conditions at the time, sometimes sticker price might be the best price.

Next up, what should you do if your lease is up and you don’t want to overpay for the replacement?”

“My lease will be up in a month, and I’ve already gotten some preliminary quotes on replacement cars. They are way more than I am paying right now for a vehicle with almost the same MSRP! Should I turn it in and suck it up, or maybe I should buy out my lease.”

A lot of folks are in a similar situation and it relates to the case above. The deal you got a few years ago is likely not going to be replicated in the current market. What I would suggest for you is to extend your lease. Most brands will give you up to six months on a lease extension, and you maintain the same payments. The nice part is that you don’t need to take the entire time and it’s really a month-to-month type of agreement. So if you find a better deal three months from now, you can turn in your car and move on. As I mentioned above, there will possibly be a market correction in the fall, so the extension would buy you that time to revisit the deals later.

Got a car buying conundrum that you need some assistance with? Email me at [email protected]!

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
Is It Possible to Buy a Good Car From a Bad Dealer?
Is It Possible to Buy a Good Car From a Bad Dealer?
As Jalopnik’s resident car buying expert and professional car shopper, I get emails. Lots of emails. I’ve decided to pick a few questions and try to help out. This week we are talking about good cars from bad dealers, aftermarket warranties, and price increases for used Lexus GS sedans. First...
May 16, 2026
Show Us The Coolest Car on Your Local Craigslist for $500
Show Us The Coolest Car on Your Local Craigslist for $500
I’ve been But this morning I had a relapse, and in an attempt to justify making another poor decision, I wondered to myself “If it’s only $500, does that really count as a full car purchase?” There’s some OK cheap stuff on Detroit’s Craigslist, but it’s rusty. So I want...
May 16, 2026
Get a New Perspective on Used Car Prices by Considering Inflation
Get a New Perspective on Used Car Prices by Considering Inflation
As ’80s and ’90s cars become more commonly accepted as “classics” and the prices of desirable vehicles appear to rise, a lot of us might be thinking about cars we had back the day and if we should have held on to them. Well, plug some of your old car...
May 16, 2026
This Ford Mustang Is a Lamborghini Gallardo
This Ford Mustang Is a Lamborghini Gallardo
s and I like s. Both, and separately. But if they are smashed together to make some kind of ungodly automotive mash-up? I’m not sure about that one. And yes, it is the same one that we , which feels like approximately 10,000 years ago. The car, called the 2009...
May 16, 2026
Ask For A Gorgeous Zagato-bodied Ferrari For Christmas, You're Worth It
Ask For A Gorgeous Zagato-bodied Ferrari For Christmas, You're Worth It
If your loved ones truly care for you, they’ll pitch in to get you this spectacular Ferrari 599 GTZ Nibbio by Zagato this holiday season. It’s the only one in the world with a manual transmission, making it as unique as you are. It’s also the best looking Ferrari of...
May 16, 2026
At $7,600, Could This T-Roofed 1982 Datsun 280ZX be the Tops?
At $7,600, Could This T-Roofed 1982 Datsun 280ZX be the Tops?
You know what you don’t see much of any more? T-Tops, that’s what. Today’s 280ZX has them and an almost new interior underneath those glass majesties. Let’s see if the price makes it something you’d like to see a lot more of. I think it’s fun that yesterday’s was named...
May 16, 2026
Copyright 2023-2026 - www.zzdcar.com All Rights Reserved