How to Ensure that You Are Getting the Best SUV Price

January 27, 2012

When shopping for a new SUV, one of the top priorities for buyers is to get the best SUV price. As with any type of vehicle, many different factors contribute to the sales price of a new SUV. For example, the overall popularity of the brand and/or specific SUV can weigh heavily on pricing. A manufacturer or vehicle that is currently "in demand" will carry a higher price than an out-of-favor competitor. Also, the SUV's equipment level will also contribute to the sales price. An SUV with every options box checked will command a greater price than a bargain-basement entry-level model. Finally, the size of the SUV will play a part in its pricing. Typically, a large SUV such as the Chevrolet Suburban will cost more than a compact SUV such as the Hyundai Tuscon.

To ensure that buyers walk away with the best price on an SUV, there are certain considerations that should be kept in mind:

Consider More Than Just One Brand and/or Model

A common buyer temptation when vehicle shopping is to search for all available inventories of one particular car, and use that research to determine fair pricing at the negotiating table. While the research component is vital, buyers unnecessarily hinder themselves by limiting their search to one specific car. Instead, consider a specific market segment (for example, compact SUVs or SUVs with seven passenger seating), and research the various brands and models within those parameters. It's certainly acceptable to have favorites, but buyers only hurt their chances of acquiring a good price when focusing their attention on a single vehicle.

Know the True Market Value of All SUV Options

Websites such as Kelley Blue Book and NADA allow consumers to enter specific information about a vehicle (make, model, year, mileage, options, and condition) and get an estimate of its true market value. Other websites with valuable pricing information include CarsDirect and the specific manufacturer's website. Knowing how the market values a particular SUV will allow consumers to more accurately determine which SUVs are fairly priced and which ones to avoid due to over-pricing.

Use the Internet to Comparison Shop

The Internet is an incredible aid for consumers who are vehicle shopping. Its influence has become so great that most dealerships post current vehicle inventories, pricing, and incentives on their websites. Additionally, websites such as CarsDirect and Autos.com allow consumers to search multiple sellers (dealers and private parties) for all available SUVs in a pre-defined geographic vicinity. The more vehicles a buyer compares, the more pricing options he or she has to select from. Buyers win when sellers compete against each other's prices, and comparison shopping facilitates this.  

Don't Back Down During Negotiations    

Every SUV has some room for price negotiation. Buyers should never purchase any vehicle, new or used, without first coming to a negotiated price compromise. Using the data discovered through the aforementioned steps, buyers should negotiate with sellers to ensure an amenable price is reached for all parties involved. One of the most important considerations when negotiating, however, is being willing to walk away from any potential deal. There will always be another SUV, and walking away from an uncompromising seller speaks volumes. Typically, the party who wants to close the deal less will walk away with the better price.

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