Posts Tagged ‘Car buying’
Black Friday a Boon for Car Buyers
Tuesday, November 17th, 2009
Black Friday shopping may be best known for deals on flat screen TVs, toys and clothing, but shopping for a new car the day after Thanksgiving can be just as fruitful.
According to car pricing researchers at Truecar.com, Black Friday is the best day of the year to purchase a new car. Data on day-by-day car pricing for the last several years reveals that auto discounts on Black Friday are, on average, the biggest of the year.
“The discounts from dealerships, as well as manufacturers’ incentives, generate the highest discounts of the year on Black Friday,” said Jesse Toprak, an analyst for Truecar.com.
Unlike typical Black Friday sales in which prices are advertised well in advance, car prices are negotiated on the day of sale. However, Toprak says there has been a clear trend in discounted prices for car buyers over the past several years.
The average new car discount on Nov. 27 is projected to be 7.5%. The average discount the day before and after is expected to be just over 6%. On a typical day throughout the year, car shoppers usually pay about 4.7% less than the sticker price.
Truecar.com projected particularly large Black Friday discounts on certain models. For instance, consumers should be able to pay about 28% off sticker price for a 2009 Suzuki SX4 compact car, 26% off for a 2009 Nissan Titan or Ford F-150 pick-up or 20% off a 2009 Hyundai Sonata sedan.
Car dealers are making deep cuts in price on Black Friday to ensure shoppers find their way to a dealership on the important shopping day.
“There’s a lot of noise in the market that day, and we have to stand out,” agreed Brian Benstock, general manager of New York City’s Paragon Honda.
If you’re looking to beef up your fleet or just looking for a new car yourself, keep Black Friday in mind. You may find yourself on the good side of a real deal.
Photo courtesy of ryantxr under the Creative Commons License.
Tags: 2009 hyundai sonata, 2009 nissan titan, 2009 suzuki sx4, Black Friday, Car buying, ford f-150, Paragon Honda, Truecar.com
Posted in Industry News | 1 Comment »
Finding the Perfect Vehicle for Your Fleet
Wednesday, July 29th, 2009
When deciding which vehicles your business will use, the possibilities are endless. In the auto market, there is truly something for everyone, and that kind of selection can be a bit intimidating for business owners who want to get the most out of their fleet. That’s why we have taken this time to highlight the most important things to consider when choosing your fleet vehicles.
-The Right Car For The Job
Choose a vehicle size that suits your business’ needs. If you are a remodeling company constantly hauling lumber from one side of town to the other, you will definitely need a larger truck or van to get the job done. The same large vehicle may be a waste of space and gas money for a consulting firm, so don’t go too big if you don’t have to.
-Count on It
Find a car that you can rely on. Check the vehicle history report for any previous accidents, and keep an eye on the mileage of older vehicles. Stick to models well-known for their reliability that are affordable to repair if should they ever need it. And if you’re sill not sure, have the vehicle inspected before you buy it. Finding a reliable vehicle means you will never have to worry about losing precious time to repairs.
-Safety First
The safety of drivers is the highest priority in commercial driving. Make sure your drivers are protected by seeking out models with excellent safety ratings. Make sure the car has all of its airbags in working order and that no previous body work has lessened the vehicle’s structural integrity. Your drivers will thank you.
-The Right Look
Think about the way you want people to perceive your business when they look at your vehicles. Larger vehicles allow for signage to be incorporated into them, while a smaller, sportier car will showcase a more laid-back business attitude. Remember that your vehicles say a lot about the way you see your business and will leave a lasting impression on your customers. And finally…
-Go With the Flow
Choose the vehicle that feels right for you. If you have had great experiences in the past with a particular vehicle and want another one of the same, go for it. If you prefer a little power over fuel efficiency, feel free. After all, it’s your business and your choice. Explore. Research. Sign up. Take your time to find what you want. You’ll be glad you did.
Photo courtesy of Vandelizer under the Creative Commons License
Tags: auto market, Car buying, car safety ratings, fleet buying, fleet vehicles, vehicle history report, vehicle inspection
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To Buy or Lease? That is the Question.
Monday, July 6th, 2009
For many small business owners, the question of whether to buy or lease vehicles is a serious one. While the right answer depends on a number of factors — size of your fleet, working mileage, existing overhead, etc. — looking at the benefits of both, as laid out by Business Knowledge Source, is good place to start. (But check with your accountant, too.)
The benefits of leasing
- Could mean a smaller cash payout upfront, or lower monthly payment, so you can put your money back in your business.
- A larger tax deduction on a leased vehicle.
- Deduct monthly lease payments as rental expenses on your taxes.
- Many leases cover maintenance costs.
- With an open-end lease, you can buy the car at a lower cost when the lease is up.
- Pay the sales tax over time and claim a business deduction. (As opposed to buying and having to pay sales tax immediately upon purchase.)
The benefits of buying
- Makes sense if for heavy use vehicles. Most leases have a 10,000 or 12,000-mile annual limits then you start paying per mile.
- It can be difficult to terminate the lease early should you no longer need it.
- New tax credits for buyers of clean-fuel-burning cars and trucks.
- It’s your car and you can put a million miles on it without worry.
- Sell or trade in on your terms, not the dealer’s.
Have you had better success with one over the other? Obviously, the best choice is the one that fits your business.
Photo copyright of emilio labrador under the Creative Commons License
Tags: Business Knowledge Source, Car buying, car dealer, Car leasing, car payment, leased vehicle, small business owner
Posted in Industry News | 1 Comment »
