How to Secure the Best Deal on a New or Used Chevrolet

Chevrolet is one of America's most popular and iconic car brands, known for making dependable and affordable vehicles. When getting the best deal on a new or used Chevy, you can take some critical steps to save money and feel confident you got a great price.

This article will provide an overview of insider tips and strategies to help you secure the absolute best deal when buying or leasing a Chevrolet, whether brand new or pre-owned. We'll cover how to determine the suitable model for your needs, utilize current incentives and rebates, obtain pre-approved financing, research fair purchase prices, find a reputable dealer, negotiate effectively, evaluate financing terms, understand fees and add-ons, and ultimately close the deal from a position of strength.

By following these expert recommendations, you'll be well-prepared when visiting the dealership and equipped to negotiate the lowest possible price on your new Chevy. With the correct information and preparation, you can maximize savings and drive away happy.

Decide What Model You Want

The first step in getting the best deal on a new or used Chevrolet is to decide which model best fits your needs. Chevrolet offers a wide range of models across segments, so take some time to research and narrow down your choices.

The compact Cruze offers excellent gas mileage and tech features for sedans, while the midsize Malibu provides more interior room and optional amenities. The sporty Camaro coupe has powerful engine options for performance enthusiasts.

For SUVs, the smaller Trax and Equinox provide good cargo space and fuel efficiency, while more extensive options like the Traverse and Tahoe offer three-row seating and trailering capabilities. The Blazer gives a sportier alternative to a standard SUV.

Truck buyers can choose between the midsize Colorado or full-size Silverado, with heavy-duty Silverado HD models available if you need to haul or tow large loads.

Think about how you plan to use your new Chevrolet most - daily commute, road trips, transporting family/gear, towing, off-road, etc. This will help narrow options and pinpoint the best model to meet your needs. Compare cargo space, engine performance, tech features, and overall dimensions between models that interest you. Prioritize the factors most important for your intended use to make the best decision.

Once you've narrowed your choices based on your specific needs and usage, it's time to examine each model's specifications and features in more detail. Comparing factors such as cargo space, engine performance, tech features, and overall dimensions will help you make an informed decision.

Additionally, if you're considering a used Chevrolet Equinox, it's essential to decode its Vehicle Identification Number (VIN) to uncover crucial information about its history and specifications. A Chevrolet Equinox VIN decoder can provide details such as the manufacturing location, model year, engine type, trim level, and more. This information can be invaluable in assessing the vehicle's condition and ensuring it meets your requirements.

Check Current Incentives

When buying a new or used Chevrolet, taking advantage of available incentives can help you secure the best possible deal. Chevrolet frequently offers incentives like cash back, low APR financing, and rebates that can add up to thousands of dollars in savings.

The first step is researching the current incentives offered in your area on the models you're interested in. The best place to find this information is the Chevrolet website. You can browse current offers by zip code to see deals on specific models. Chevrolet also sends out monthly promotional emails detailing the latest incentives.

Pay attention to the fine print on any incentives that interest you. Ensure you understand eligibility requirements, expiration dates, and necessary paperwork. Some offers may require financing through GM Financial, while others can be combined with outside funding.

If you plan on financing, look for low APR deals on new models. Rates of 0% for up to 72 months are expected. Just be aware of potential loan amount limits. Cash-back offers of $500-$5000 are also popular on new and used Chevrolets. These can be taken as an upfront discount or rolled into the monthly payments. In automotive shopping, Chevrolet price history indicates that used cars often fetch competitive bids due to their reliable performance and enduring popularity, making them a sought-after choice for savvy buyers looking for value and quality.

Stacking multiple incentives is an effective way to maximize savings. For example, you may combine 0% financing with an additional rebate. Just make sure the incentives are consistent with the fine print. Discuss combining offers with your dealer to receive the total discount.

Being flexible on trim levels and colors can open access to more incentives. If you only need some options or features, choosing a lower trim with more significant discounts can be worthwhile. Reviewing the incentives across the model lineup provides flexibility in your negotiations.

Get Pre-Approved Financing

Getting pre-approved for an auto loan before visiting dealerships gives you a major advantage in negotiations and can help secure the best possible deal. Here are some key benefits of getting pre-approved:

• Know Your Budget - By getting pre-approved, you'll know exactly how much you can afford. This allows you to shop confidently within your budget.
• Better Interest Rates—When you get pre-approved, Lenders compete for your business. This competition often results in lower interest rates than what the dealer can offer.
• Faster Financing Process—With a pre-approval letter in hand, the financing process goes much quicker at the dealership. There is no waiting around for loan approvals.
• Negotiating Leverage - Dealers know you already have financing lined up, so they may be more willing to discount the vehicle price and negotiate since you are a serious buyer.
• Avoid Dealer Financing Traps—Dealer financing often involves higher rates or questionable add-ons. With your own financing, you can avoid these dealer tactics.

Credit unions usually offer the best rates. Banks can also provide competitive pre-approval. Other good options are online lenders like Capital One, Lightstream, and Bank of America. Ensure you get pre-approved from multiple sources, then take the best loan terms to the dealer.

Getting pre-approved takes some time upfront, but it pays off tremendously in the negotiating process. You'll secure the bargaining power needed to get an outstanding deal.

Research Fair Purchase Price

When buying a new or used Chevrolet, it's essential to research the fair purchase price based on the vehicle's MSRP, invoice price, incentives, and market demand. This helps you negotiate the best possible deal.

There are several sources to compare a vehicle's MSRP (manufacturer's suggested retail price) to the dealer invoice price:

• Third-party sites like Edmunds.com and TrueCar allow you to see dealer invoices and fair purchase prices for your desired make and model. You can compare MSRP to dealer cost.
• Chevrolet's official site provides MSRP and sometimes invoice pricing. Compare pricing across different trims and packages.
• Consumer buying guides like Kelley Blue Book (KBB) provide price ranges and average paid prices for new and used vehicles based on location, mileage, options, and condition.
• Check sources like Autotrader and Cars.com for used Chevrolets to gauge average listing prices and price drops over time.

This pricing information lets you know the fair price range to target, and you can negotiate better. Be sure to factor in any current incentives, rebates, or promotional financing offers from Chevrolet on top of the dealer invoice price. This gives you more leverage to secure the best possible deal. Aim to pay slightly below dealer invoice after incentives.