I sat at my desk shaking my head. Auto Traders, Car Gurus, and Cars.com had all come out with a brand new feature. All 3 sites were showing a “price rating” on each car to tell the customer whether the car their looking at is a “Fair”, “Good” or “Great” deal. I pulled up one of my dealerships’ cars that was posted on all 3 websites. Car Gurus said the price was too high, Auto Trader said it was a great deal, and Cars.com said it was good deal. The same car, 3 different results.
Here are some things to consider when looking at generic pricing ratings. No one that works for these websites has seen the car to look at the quality or condition of it. Also, none of these websites know the pricing games or gimmicks the dealer who owns that car is playing or not playing on the back end.
I recently helped a client find a truck for his business. He was all excited because he found a great deal on a truck he wanted in Pittsburgh. Before he made the 4 hour drive we called out there and asked them to send us a bill of sale so we could see all the fees. According to CarsGurus the truck was a “great deal” priced about $4,000 under market value but when we got the bill of sale there was a $4,500 “internet fee” that the dealership was unwilling to budge on.
So don’t just look at the deal rating. Look at the quality of the vehicle, know what fees the dealership charges and what they will give you for a trade-in. If two dealers have the same car for sale at similar pricing, one might offer you $2,000 more for you trade-in than the other one. Make sure you get all the factors that affect your deal before you rush in for a “great deal”!
The best way to know if any car is a good deal is to:
– Understand the quality and integrity of the dealer you are buying from
– Be sure the car is mechanically sound
– Understand what fees the dealership charges
– Be educated on the interest rate of the loan if you are financing
– Understand what warranty comes with the car
– Know what the dealer is willing to give you for your trade-in.
– Look for similar cars to the one you want, with similar year, options and miles and see what others are asking for it. If their price is right in the mix, it’s probably a fair deal.
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