When you are looking for great deals on exotic cars, one of the things that you need to be aware of is the fact that price dynamics in this market segment vary immensely. This means that other factors (ability to negotiate, skill to evaluate the vehicles on offer, and so on) play a large part in the final price that you pay for these vehicles.
Here are some ways in which you can get great value in your next exotic vehicle.
Understand Dealer’s Range
It is important to get an idea of how far down the exotic car dealer can go on a certain car. Since the dealer is unlikely to divulge this information to you, there is a way to get around this problem. Simply write an email to the dealership offering to trade-in your car for another model. The trade-in car here is the model that you wish to purchase from the dealership. Ideally, the dealership should not be the one that you seek to buy the car from. Typically, the offer they give you represents the lowest value that the dealership can go down (purchase price). What this means is that the dealership is then likely to mark-up this price around 1-5%. If the purchase price of your exotic car is way above this number, then you are unlikely to be getting a good deal, unless the vehicle has some elements that justify the higher price.
Get Timing Right
When dealerships are selling automobiles, they often have to consider the opportunity costs that come with keeping vehicles idle in the yard. This is where proper timing can help you land a great deal. When vehicles have been in the yard for over 90 days, the capital that they represent is tied up and thus the dealer is unable to get more vehicles and thus make higher profits. For this reason, dealerships are more willing to accept lower margins when it comes to vehicles that have overstayed in their yards.
Do your Research
Dealerships often have to deal with many potential customers on any given day. This means that their salespeople can quickly recognize a serious buyer and someone who is not serious. Much of this comes from the sort of offer/counter-offer that the buyer makes. If you give a low-ball figure that has no association with the value of the car, the dealership is likely to treat you as an unserious buyer and move along. Do your homework properly so that any number that you offer is based on realistic costings. This way, the dealership recognizes that you are a serious buyer and may be more willing to meet you halfway.
Show Ability to Buy
Related to the previous post is understanding that dealerships often have to screen serious buyers from people who are merely window shopping. For this reason, showing proof that you can pay for a vehicle can go a long way in getting you better prices. This can be done by showing funds in your account or financing applications. Once the dealership understands that you can pay for the car if you get to the desired price, they are more likely to meet you halfway or even accept your offer.
When you come to Car Geeks for your luxury car, you can be certain that we have the expertise to find the exact model that you need. If you have any inquiries about our car buying and selling services, do not hesitate to contact us through our website, or call us at 954 533 4566!
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