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Healthy Cells is a local health magazine with most of the articles written by local professionals. People love to read about healthcare from their local health professionals. Each month includes a wide variety of articles on various topics.
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The Truth About Buying a Car

Everyone wants to save money and most everyone wants a ‘good deal’.  Whether it’s groceries, new appliances, medication or the latest fashion, it seems like the public is consumed with finding the best price – no matter what the investment of time and energy.   Consider the explosion of shopping apps, automatic alerts, price matching promotions, comparison shopping sites, coupons, mobile alerts and the list goes on.  One might wonder - does anyone ever buy anything that is not a blow out price?

 

 

Buying a new car may be the ultimate quest for finding the best deal. Whether new car shopping is something you dread or something you eagerly anticipate, most consumers believe that the best time to score a bargain on a new car is by purchasing at the end of the month.  The thinking is that dealers and salesmen are desperately trying to reach their monthly quotas and therefore have an extra incentive to come down on price.

 

Let’s shed some light on this common misconception.

 

Mike Woolsey, General Manager of Brad Barker Honda in Bloomington says that, “Years ago, there was some truth to that.  Quotas used to be different because there was a bigger profit margin.  Six or seven years ago, a dealer might have a profit margin of several thousand dollars, where today, the profit margin is several hundred dollars.”  So why did that change? Very simply, the Internet.  “ People used to shop for a car by visiting maybe three dealerships.  Today, they don’t even need to leave their home to get price quotes from anywhere in the country.”  

 

Woolsey believes that a good start to the month is every bit as important as the end of the month. He says that, “You should be able to get a ‘good deal’ no matter when you choose to visit a dealership.  The truth of the matter is that in today’s selling environment, we have to be just as aggressive on Day 1 as on day Day 31.”   Nationwide, every dealer’s profit margin on new cars is already slim, so the ability to cut the price is quite limited at any time. 

 

So when is the best time to buy a new car?  Woolsey acknowledges that the end of the model year can be a good time because the price discount comes from the manufacturer, not the dealer. 2015 models may begin to come out in June or July, but in general the heaviest sales happen in September through the end of the year. “The perks of buying the older models include large dealer incentives, including lower Annual Percentage Rates (APR), cash back deals and rebates,” adds Woolsey.  However, you may have a harder time finding a particular color and feature combination. 

 

The bottom line is, most people know that car dealerships need to make a profit just like any other business, but they want them to make it on the next guy. The best thing to do is recognize the dealership isn’t out to give you a raw deal. Ask for a fair price and appreciate the salesperson’s point of view. That’s a good deal for everyone.

 

You may visit Brad Barker Honda at 1602 General Electric Road in Bloomington, on the web at bradbarkerhonda.com or by phone (309) 663-9591. They service all makes and models and every Tuesday is ladies day!  Bring your car in on Tuesday and get a free manicure. 

 

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