How to Avoid Paying Dealer Markups

You’re sitting at home, watching TV, and a commercial comes on for a brand-new car that looks too good to be true... Well, it probably is. If you’re looking to buy a new car and want to learn more about how to avoid paying dealer markups, look no further than our quick guide.

The team at Clinton Honda is here to help all our friends in the Annadale, Clinton, and Sommerville, NJ, areas—as well as Eaton, PA—get the best deal they can by avoiding financial pitfalls. Read on to learn about how we can help you avoid paying exorbitant dealer markups.

Shop Around

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When you want to buy a new phone, you don’t walk into the shop and buy the first phone you see. You don’t automatically pick the most—or the least—expensive phone, either. You think about what you’re looking for in a phone, pick a model that suits your needs, and then find which store or provider offers the best price for it. You take your time, and do your homework.

It’s the same principle with buying a new car and avoiding dealer markups. You’re more likely to find the best price on your next vehicle by shopping around at different dealerships, and looking at different deals that are on offer. Sites like Kelley Blue Book® can help you get free price quotes from several dealerships in your area as well, helping streamline your research.

Read the Fine Print

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Sometimes avoiding a dealer markup is as simple as reading the fine print. If you’re looking at an ad online, sometimes phrases like “market adjustment” will be listed—a dead giveaway that dealer markups are at play.

You should also be on the lookout for dealer add-ons. You should ask the dealer about add-ons up front, and see if you can remove the ones you don’t want or need.

Also, you can check out if there are financial markups. Deals with low Annual Percentage Rates, or APRs, can have interest rate markups, so be sure to ask as many questions as you need or want. We’ll be happy to go over everything with you.

Take Your Time

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Not everything needs to be done right away—you can feel free to take your time. Car prices fluctuate with supply and demand, so if the car you want is in high demand with low supply, then prices can be higher. If your model is high in supply with low demand, you’re more likely to get a lower price.

If the car you want is popular right now, consider waiting until the market changes. If you don’t need a car right now, waiting until the market changes may help you better avoid any supply-demand dealer markups.

Armed With These Tips, Avoid Paying Dealer Markups

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