A little known secret on how to find out which new cars are the best and worst to buy right now is to find out how long the vehicle you’re interested in has been sitting on a dealer’s lot.
The less time it takes a dealer to sell a car (under 30 days), the more difficult it will be for you to negotiate a good deal on the vehicle. The dealer knows if you don’t buy the vehicle at the price they dictate, there will be someone in right behind you that will.
On the other hand, the longer a new car sits unsold on a dealer’s lot (ninety days or more), the more expensive it becomes for the dealership. Most dealers borrow money to pay for their new car inventory, this type of loan is called a “floor plan.” Like any other kind of loan, the dealer must pay interest for every minute that money is being used.
As the vehicle starts to age, dealers and their sales staff will get more aggressive on discounting the price of the vehicle to get it moved. On occasion, this even means losing a little money to get the vehicle sold and off the lot.
This can be great news for you if you’re currently in the market for a new car and looking to get a great deal. Especially if you’re considering a vehicle that’s been growing roots on a dealer’s lot for sixty, ninety or a hundred plus days.
All because a vehicle has been sitting on the lot for over a hundred days doesn’t make it a bad car. In the retail car sales world, vehicles get passed over by salespeople for all kinds of reasons. The car could be a bad color, hard to sell or the individual salesperson may just not like the vehicle. Whatever reason the vehicles been overlooked, it’s now aged and costing the dealership money.
Taking a look at the list, the vehicles not selling just happen to be some of the nations least expensive new cars. Most of the vehicle’s listed have a Manufacturer’s Suggested Retail Price (MSRP) of under $16,000. Which means if you’re considering one of these vehicles, you should be able to get a cheap, reliable, brand new car, at a really good price.
If all you care about is buying a new car for as cheap as possible. Take a look at the 2015 Mitsubishi Mirage, it has an MSRP of $13,805 (destination included) and averages 117 days to sell. Dealers are chomping at the bit to move these vehicles out to make room for the new models. There’s most likely a great deal to be had at a local Mitsubishi dealership near you.
Kia Motors has five spots on the oldest vehicles in inventory list with the 2015 Kia Rio sedan at the top spot, hanging out on the lot for an average of almost six months (157 days) before it’s sold. The Kia Rio hatchback, K900, Forte Koup, and Forte hatchback all have an average of anywhere from 120 to 148 days before they’re sold.
The worst new cars to negotiate are the popular or “in-demand” vehicles. All-wheel drive has been all the rage over the past few months and the quickest-selling vehicle list proves it. All but one vehicle had standard or available all-wheel drive and only three were trucks or SUVs.
The 2016 Honda Pilot is the quickest-selling new car for the month of June and the possibly the most difficult vehicle to negotiate and buy for the month of July. Not even averaging a week on a dealer’s lot (5 days), shoppers are buying them up as fast as they’re hitting the ground. Honda dealers understand the Pilot is very popular right now and they only have to discount the vehicle very little, or not at all, to get it sold.
Subaru has five of the eighteen spots on the quickest-selling vehicle list with the 2015 Subaru Outback, Legacy, XV Crosstrek, Impreza sedan, and Impreza hatchback. These Subaru models only last on the lot for an average of eleven to nineteen days. Turning over these models so quick makes Subaru the hardest vehicle brand to negotiate with for the month of July.
If you’re interested in one of the fastest selling vehicles, you can still buy one. You just may not get a very big discount or no discount at all. If you’re not in a hurry to buy a car, you may want to wait a few months when the vehicle’s popularity dies down.
Take a look at all the vehicles that made the best and worst new cars to negotiate and buy lists for the month of July 2015 below.
Best New Cars to Negotiate and Buy Right Now – July 2015
|Year, Make, Model||Average Days on Dealer’s Lot|
|2015 Kia Rio Sedan||157 Days|
|2015 Chevrolet Sonic Sedan||153 Days|
|2015 Cadillac ATS Sedan||153 Days|
|2015 Toyota Yaris Two-Door||150 Days|
|2015 Kia Rio Hatchback||148 Days|
|2015 Kia K900||147 Days|
|2015 FIAT 500||142 Days|
|2015 Chevrolet Sonic Hatchback||142 Days|
|2015 Dodge Grand Caravan||138 Days|
|2015 Kia Forte Koup||137 Days|
|2015 Hyundai Veloster||127 Days|
|2015 Nissan Versa Note||122 Days|
|2015 Buick LaCrosse||120 Days|
|2015 Kia Forte Hatchback||120 Days|
|2015 Mitsubishi Mirage||117 Days|
Worst New Cars to Negotiate and Buy Right Now – July 2015
|Year, Make, Model||Average Days on Dealer’s Lot|
|2016 Honda Pilot||5 Days|
|2016 Nissan Maxima||6 Days|
|2016 Ford Explorer||9 Days|
|2015 Subaru Outback||11 Days|
|2016 Acura RDX||13 Days|
|2016 Hyundai Santa Fe Sport||13 Days|
|2015 Ford Flex||13 Days|
|2016 BMW X3||14 Days|
|2015 Chevrolet Colorado Crew Cab||14 Days|
|2015 Porsche Macan||14 Days|
|2015 Toyota Highlander||14 Days|
|2016 Honda HR-V||15 Days|
|2015 Mercedes-Benz GL450||15 Days|
|2015 Subaru Legacy||15 Days|
|2015 Subaru XV Crosstrek||15 Days|
|2015 Subaru Impreza Sedan||16 Days|
|2015 Toyota 4Runner||16 Days|
|2015 Subaru Impreza Hatchback||19 Days|
Competition Between Dealers Always Gets You the Best Price
When negotiating a new car or truck’s price, it’s important to know the dealer invoice price and what other people are paying for the same vehicle in your local area. Otherwise, you won’t know what’s a good price to pay for the vehicle. I highly recommend using an online referral service such as Ryde Shopper and Motor Trend, their quotes will automatically include any discounts or cash-back incentives currently available.
In addition, the above sites will tell you which dealerships in your local area are currently the most flexible with their new car pricing. These sites provide valuable information for anyone thinking about buying or leasing a new car or truck.