Todd: Hi I’m Todd.
Thad: I’m Thad.
Todd: We’re the Watters boys.
Thad: Some consumers are putting off buying a new vehicle right now even
though they really need one, because they’re hanging onto their money.
Todd: That’s understandable. My brother has put off buying new
clothes for ten years for that same reason.
Thad: I won’t mention that you recently borrowed one of my suit jackets.
Todd: And I won’t mention that it was waaay too big.
Thad: But eventually, people are going to decide to go car shopping.
Todd: Yep. You can only bum rides from your parents for so long.
Thad: Or bum clothes from your bro for so long.
Todd: So Thad and I sat down and came up with what we think is a great list
of four ways for you to save money on your next vehicle.
Thad: Some of these may seem really simple, but the truth is that they also
Todd: Take it from two guys who have spent their lives buying and selling
cars – these tips will work, if you follow them.
1. Do your homework before you ever set foot in a dealership.
Todd: With all the resources available on the internet, there’s just no
excuse not to know at least something about what you want.
Thad: Know what options you want. Investigate makes and models on the
manufacturer’s web site.
Todd: Plus there are a ton of social networking sites where car owners talk
about their own experience with specific models and features.
Thad: Which is something we’ll be setting up on our own blog, so
keep your eyes open!
Todd: The most important thing – get smart about what you want so you can
negotiate from a position of strength.
2. Know what your trade is worth.
Todd: We have consumers who come in all the time and don’t have a clue
what their car is worth as a trade-in.
Thad: That really puts them at a disadvantage.
Todd: For example, we can tell someone their ’83 Vega is worth $11.95 and a
couple free tickets to see Leap Year.
Thad: I’ve seen it – we need to at least toss in a small popcorn.
Todd: Of course we wouldn’t do that.
Thad: No one should ever be encouraged to see Leap Year.
Todd: Even for free.
Thad: Car shoppers planning on trading in their current vehicle should go to
Blackbook.com, Kelly Blue Book’s site, KBB.com or Edmonds.com to find
out what their trade is worth before they visit the dealership.
Todd: Edmonds.com also has a cool “TMV” True Market Value section on
their home page.
Thad: You can put in the car/truck you want and pick options and it will
show MSRP/ invoice and what you should expect to pay in your market.
Todd: This is a very good tool – it lets you know about where the dealer will
end up on the sale price for you.
Thad: It has tallied up all the sales in area and put them together to get a
Todd: All of the books are not buyers for your used car but are a guide to get
Thad: Which is closer than we’re going to get to your Vega.
3. Bigger Inventory + older products = lower prices
Todd: Inventory plays a big role in the price of a car.
Thad: The harder it is to get, the higher the price.
Todd: If it is a new model and not many around then you will not get a big
Thad: The rebate will also be lower on new products just out.
Todd: But if there is a big supply, dealers will be willing to discount in order
to move cars.
Thad: And manufacturers will also be offering bigger rebates.
Todd: Bottom line – bigger inventory and older models mean bigger savings
4. Take advantage of loyalty rebates.
Thad: The GM factory is giving up to a $2000 loyalty rebate for being loyal
to the GM brand.
Todd: There is also a Conquest rebate, if you drive a non GM brand, for up to
Thad: There you go – four tips that can save you a lot of money on your next
Todd: And we even have a few more ways to save you money that we’d love
to share with you.
Thad: But that means seeing Todd and I in person, and some of you may
be unwilling to accept the health risks.
Todd: Your wardrobe alone can cause blindness.
Thad: Tomorrow I’m going with plaid polyester – just for you.
Next time: Dispelling The Biggest Myths About The Car Business