Are you looking for a new car, but don’t want to pay new car prices? You’re not alone! According to Bloomberg, the inventory of new SUVs has been growing faster than the demand. This means dealerships may be willing to sell brand new SUVs for much cheaper! Some prices may seem a little too good to be true, so we’re here to raise awareness to everything a buyer should know to get the right price on their purchase.
How Are These New SUVs Available For So Cheap?
When the price of gas went up, the desire to drive big cars that use up a lot of gas went down significantly. With more efficient vehicles available, such as sedans, dealerships were left with a lot of unsold pickup trucks. In the meantime, factories continued to make pickups uninterruptedly.
Even when the trucks started to see more interest last year, purchases still weren’t enough to equalize the market. With new models coming in while the old ones hadn’t been sold yet, dealerships have to fight for buyers by offering lower prices and attractive financing options.
Prices Are More Affordable Than Ever
If owning one a new SUV was ever a dream of yours, now is the right time. Two factors within the industry have combined to make the current market a true buyers’ market. One is the appearance of many used pickups which are off-lease and low-mileage, as Chicago Tribune reports.  The second is the shift away from SUVs and towards less gas-consuming vehicles within the market itself, according to Forbes. 
The biggest thing to understand about unsold SUVs selling for pennies on the dollar is that the dealers have a lot of motivation to do this. When you buy a car from a car dealer, you aren’t buying directly from the manufacturer. Instead, the dealer buys them from the manufacturer, along with the licence to display the manufacturer’s logo. From then on, the dealer can’t get a refund on these cars. So all the motivation to make a profit is on the dealer, not the manufacturer. Therefore, what car dealers don’t want you to know is that selling cars at some price – any price – is better for them than not selling the cars at all, even if that means the cars go for pennies.
Secrets That Dealerships Use To Lower The Price
Dealerships have plenty of secrets for selling unsold SUVs that are aging as they stay on the dealer’s property. Junk cars like this are often sold alongside a ‘spiff’, or special cash benefit, to entice the buyer into buying an older car than they had planned. Large discounts are also often offered on unsold 2020 pickup trucks. This is one of the reasons why now is the best time to buy an SUV in the USA.
Another strategy is to use the vehicle themselves so that they can change the label from’ new’ to ‘gently used’. If they use unsold SUVs as the business’ own transportation or drive it around as a marketing stunt, they can call it second-hand, and can make it seem like a much better deal than it is.
Also, if you want the best deals, make sure to keep up with a range of sellers. Car dealers will sometimes swap inventory cars for sale if they’re taking a while to sell and think they’d be more popular in another area. For example, four-wheel drives like unsold SUVs are much more popular in New England than they are in the Southwest. Auto auctions are another great place to find great cars on the cheap, as this is another avenue dealers use to quickly move unsold inventory.
How To Find The Best Prices
Want to know more about how to get the best deals on unsold SUVs? If you drop by your dealership on a weekday rather than a weekend, that can help your chances enormously. This means that they won’t raise their prices the way they might in preparation for the weekend rush. Also, try not to catch the salespeople directly before lunch or closing time. If they’re in a better mood, they’ll be more willing to give you a better deal.
Also, ensure that any deals offered, especially deals made ‘on the fly’, are confirmed in writing. Otherwise, they may not be honoured when the time comes to pay for your car. Most of all, always go through all features of the car with the salesperson before you buy. You don’t want to drive it out of the dealership only to discover that the windscreen wipers don’t work. Unsold 2020 SUVs are going for pennies on the dollar, but there can be bad apples mixed in there too. Buyer beware, and ensure you’re actually getting value for money.
As far as monthly payments, dealerships and manufacturers alike are providing great prices to rid themselves of their stock. According to U.S. News,  nowadays there are 0% financing options over 36 months as well as up to 4000$ dollars in bonus cash for some of their pickups, which leaves the buyer with a monthly payment as low as 379 dollars a month. Similarly, according to the same source, a Ford F-150, when all is said and done, can charge as little as 249 dollars a month.
They also report that new models such as the Toyota Tacoma or Nissan Titan can be found for a monthly payment of fewer than 400 dollars.
The first course of action should be an online search. Most sellers will post all their prices and financial incentives online to reach a wider audience. There might even be some online exclusives to be aware of. Compare and contrast prices, and then choose the one that is the right fit.
If there is time to spare, a good strategy is to wait for sellers to put special prices on their unsold stock. Some of the lowest prices ever can be found during these special occasions.
It’s quite possible that this climate won’t last long seeing how pickups have started to gather interest among buyers yet again.As always, we recommend interested buyers do their own research in order to find the SUV that suits them best.