What makes for a good car-buying experience? While purchasing a new or used car can be frustrating on Long Island or anywhere else, if you stick to a plan and find the right dealership, the experience can be a positive one. The bonus is Long Island has many reputable dealers ready to serve at a range of price points.
According to the New York State Automobile Dealers Association, New York has about 1,000 new car and truck dealers. So, where does one start?
Before entering the showroom, research the desired automobile type by visiting websites like cars.com, kelleybluebook.com, caranddriver.com, and truecar.com. Their search engines help break things down for new or used cars and the different make, model, year and trim levels.
Trim levels, as defined by TheNewsWheel.com, are versions of models equipped with a combination of features preselected by the manufacturer. The higher the trim levels, the better the features offered at a higher price. It is important to figure out what features the buyer needs in a vehicle and whether that customer is willing to pay extra for them.
The Weidinger family has been a staple in the car-selling business, owning dealerships on Long Island for many years and starting the first Jaguar dealership in the United States in 1938. Currently, the family owns Jaguar Land Rover in Freeport and North Bay Cadillac, Buick, and GMC stores in Great Neck.
The Executive Manager of North Bay Cadillac, Buick, and GMC stores John Campanelli explained that, particularly at North Bay, they do not have a high staff turnover rate, which helps with loyalty to the same salesperson.
“Customers are looking for trustworthiness and comfort when they engage the salespeople and reliability in the dealership,” said Campanelli.
With over 20 years in the business, Campanelli says he can spot well-prepared customers when they enter the doors, encouraging the practice. He prefers his customers to know what they want when they walk in.
“Watching YouTube, asking trusted friends, and looking for promotions by going online make an educated consumer,” he added.
Establish Rates: If you are buying new, the MSRP or sticker price is the manufacturer’s suggested retail price. The dealer is required to post this information, and they can sell above it or below it, depending on demand. Another price the dealer looks at is the Invoice Price. This is what the dealership paid the manufacturer for the automobile.
Consumers often wonder if there is any wiggle room regarding MSRP and Invoice Price. If you look at specific models, they all have similar profit margins of about 5% to 6%. By visiting different dealerships, you can learn how much the managerial staff is willing to cut into their profit margin. The more expensive the car, the more profit the dealership can make. Establish what you are willing to pay. And watch out for dealer tricks, like hidden fees.
Donna Valencia of New Hyde Park, was looking for a car for two or three months because her Nissan Rogue was coming off lease. She was interested in a Honda or another Nissan. After going to several dealerships, she ran into some funny business.
“They gave me a price over the phone or on the internet, but when I went into the dealership, they would flip flop,” she said.
Watch for the Asterisks: If you visit a local dealer’s website and are quoted a price, you might see two asterisks next to the price. Scrolling further down, you will find four asterisks next to a paragraph of terms and conditions. It says you must finance through a dealership (you can only get a loan through the dealership), and the price reflects a $1,999 down payment and dealer fees. With this pricing system, it’s hard to gauge the costs. Know the car’s value to get the best pricing when you walk into the showroom. If you don’t come to a comfortable deal you are comfortable with, be prepared to walk out of the showroom and seek another deal elsewhere.
“There is a lot of small print in the industry,” said Campanelli. “We try to avoid that and be as transparent as possible. Customers appreciate that, and it’s part of why we have such a loyal following.”
