Two things are increasingly going up in 2022. A tone of people are searching for Memorial Day car sales in Escondido for new and used car sales. Memorial Day auto sales have traditionally been among the very best days for dealers to sell their new and used inventory, and so there are plenty of you who are already chomping at the bit.
Be prepared, however, for the 2022 Memorial Day will likely be a bit different from any you have experienced in the past.
Vehicle Stock is at an all-time low
The first thing you need to know is that the supply chain problems affecting our nation have heavily affected car dealerships. Typically, dealers now have in stock about 1/3rd of the number of vehicles they normally have in May.
This actually means two things The first is that if you can find the car or truck you want at all, you likely will have much fewer choices as to the trim levels available, or even necessarily your preferred color choice.
Secondly, since auto dealerships are selling much fewer autos and trucks due to inventory problems, it also means that there are fewer trade-ins.
People are keeping their vehicles much longer in 2022, so if you are in the market for a quality used car, your choice of vehicles will be even smaller. They are just hard to find.
Easier to finalize
Not only do dealers have limited inventory, but for them, car sales are much easier than normal to finalize.
What this means is that you will have to have a lot of luck to find a dealer who is willing to provide you with cash incentives. Why should they if most customers are just happy to have a new vehicle that they find acceptable to purchase?
You are in active competition with other auto buyers
Just as prospective homeowners are not lining up for hours just to get a glimpse at a new home on the market, and many offer up to 20 percent more than the asking price for the house, the competition is now quite stiff in the auto market.
Auto and truck buyers are currently paying as much as 28 percent over the cost of a similar vehicle in 2021, so be prepared to raid your 401k or Savings account to make a decent offer before someone else does.
So while Memorial Day may be traditionally a great time to save on a new car or truck, temper your expectations this year.
So is all hopeless for memorial day? No. here are some tips as to ways you can still salvage a great deal.
Do your test driving in advance
When you show up for a Memorial Day Sale, you do not want to waste your and your salesmen’s time by test driving a vehicle.
You may have heard about three great vehicles for 2022 that you have your eye on. Great.
As early as possible, go to the dealership and test drive the vehicles. That way, you move straight into the negotiating phase of the transaction, rather than be out on the lot and have the vehicle you want to be sold out from underneath you.
Arrange your financing in advance.
Always remember that it’s not just the price of the vehicle you are buying but also the price of financing it. You’ll save a lot of money by prearranging your car loan with your bank or credit union.
Scout several locations, including those outside of your zip code.
Once you’ve chosen the type of vehicle you want and the available options, then scout several locations, including some as much as 30 miles away to find out who has the best selection.
For example, if you want to buy a new Ford F150, and dealer A has 5 models available, and at least three are acceptable, that’s probably the dealer you want to go to first as compared to a dealer that only has two acceptable F150 models on their lot.
But have a backup plan. A dealership that is in a small farming town 30 miles away will have fewer buys on Labor Day that a dealership in a large town.
Consider a backup plan with your choice of vehicles.
Some manufacturers may have a slew of fantastic vehicles available, but that doesn’t mean you shouldn’t have a second or third choice in vehicles. The more vehicles you consider, the better your chances are of snagging a great deal during Memorial Day.
Yes, we know you are itching to buy a new vehicle, but if the stars don’t align, you can always just wait a few months. The supply chain crisis in autos can’t last
forever and sooner or later, everything will ease up and go back to normal. Visit us ahead of time to find good Memorial Day car sales in Escondido.