The seasons are changing and if you’re in the US for Thanksgiving, there are probably two things on your mind: eating turkey, and shopping on Black Friday. Black Friday takes advantage of the
week day that many Americans have off from work the day after Thanksgiving, and large discounts make it prime time to do holiday shopping for yourself or loved ones. In this article we will learn about the BEST Black Friday car shopping tips for internationals in the US.
Normally, we think of department stores and electronics going on sale in the wee hours following Thanksgiving, but did you know that car dealerships also take advantage of the consumer frenzy? Let’s take a look at how internationals can make the most of this American “holiday” to get the car of your dreams.
- Do your research.
Before considering any deals offered at a car dealership, you should know what the original price tag is. You should research car models and prices before stepping foot in the dealership. There are benefits to having a strong base knowledge ahead of time.
Firstly, you can reduce your shopping time at the dealership. It’s likely that on Black Friday, car dealerships will be packed as many people will want to take advantage of all the good deals.
Not only will there be crowds, but salespeople may be stretched for time and may not give you as much attention as they would on a normal Friday morning. By showing up armed with information, you can have a more direct experience and get right to the car you are most interested in, ask the most important questions, and get to test driving and negotiating much more quickly.
- Ask the right questions.
Since you’ve done research on the car you want, you can focus on the most important questions when it comes time to negotiate. You may find your negotiation comes to a standstill, and you realize that you won’t get the price any lower. But that doesn’t mean you walk away with that offer. There are plenty of add-ons that may be put on the table by the salesperson first. But not all add-ons are created equally, and many won’t be worth much in the long run for you. Additionally, they almost always come at an extra price.
So what should you be most interested in?
Pay attention to any warrantee that the dealer offers, and be certain to ask questions about it. You should know exactly what the standard warrantee covers, and then decide if an extended warrantee could be useful for you. Another worthwhile add-on to ask about is a maintenance and servicing package. The benefit is that you will have the cost of these services covered, however you will then be bound to this dealership for any future problems that arise.
- Get approved for a Car Loan before you shop.
Some dealerships may have Black Friday Deals that focus on the “whole package”, which can include special warranties and vehicle servicing packages. Additionally, some deals may regard financing your car and offering very low interest rates.
*Be aware: Loan deals are almost always subject to approval based on your credit score or income. If you are an international with no credit score or little credit history, you may have trouble taking advantage of some of these deals.
So what can you do?
Get pre-approved for a loan through a lending provider like LendBuzz, which specializes on lending to internationals, and takes other factors into consideration besides credit score. When you get pre-approved before
heading to the dealership, you will save time in the negotiation and buying process, and ensure that you leave with a payment plan that you are happy with. You will even build credit in the process!
*Note: Some salespeople will even use the monthly payments as a negotiation point, rather than the full price tag on the car. This is a tactic that you can avoid by coming in armed with a pre-approved loan, and a price in mind.
- Negotiate your way to a better price.
There are plenty of tips to get the best deal, but some of the most important are below.
- Know your price. This goes back to doing your research. By having a clear number in mind that is reasonable for the car you are interested in, as well as knowing the limits of your budget and car loan, you set the tone. But remember, once you name your price, you can’t expect to go lower than that.
- Let the salesperson talk first. Usually in the negotiation, the salesperson names a price they know they have to go down from, and you, the buyer, need to name a price that you have room to go up from. When they name their price, you gain control of the negotiation.
- Leave if you don’t like what you hear. You’ve done your research, so you know that there are plenty of good deals out there for a new vehicle, especially on Black Friday. If you are not able to get to a price you feel good about, don’t be afraid to walk away. One of two things will happen: you will continue on to the next lot and find a better deal, or the salesperson will make concessions when they realize you’re really ready to walk. Either way, don’t worry about being rude; it’s a normal part of the process.
Now that you know how to get the best deal, the next question is, where? Take a look at our list below to get started.
- Consumer Reports Black Friday Deals: Check out these deals on a variety of new 2018 models, as well as some outgoing 2017 models.
- Cars Direct Black Friday Deals: This comprehensive list gives more than just a few models to browse, including special Employee Pricing for one make.
Didn’t find what you’re looking for? A Google search for “Black Friday Deals” + the name of the car you’re interested in will help you narrow down your search.
Skip the mall this year, and head straight to the lot for a Black Friday purchase that will treat you all year long and more!