Days On Lot: Your Key For Negotiating with the Dealer

The auto industry has always used "Days on Lot" data to analyze how car models are selling. But Days On Lot is also one of your best tools for negotiating with the dealers because it measures which cars are scarce and which ones are gathering dust. After all, if the dealer knows a model will get sold in a week, he can charge close to sticker. The trick is how to use this Days on Lot information to better prepare for negotiations with the dealer. The first step is to study the Top Ten Fastest/Slowest Sellers lists:
Analysis: Based on the above data, it's clear that consumers are looking for vehicles that push the envelope in some way: more fuel-efficient, more horsepower, more fun. Models like the Chevy Camaro, Ford Fusion Hybrid, Toyota Venza, and MINI Cooper Convertible are totally new for this year. The Toyota Prius, Ford Mustang and Lexus RX have been significantly redesigned. All these models have gotten a lot of buzz and dealers are counting on the pent-up demand.
Negotiation Tip: If you are interested in a car on the Top 10 Fastest Selling list, you're not going to get much below MSRP. We believe most of these cars will continue to be popular for quite a while, so factor that into your buying strategy.
But there is one trick you can use to lock in a good deal—Internet pricing. You see, customers who lock in a price quote ahead of time using the Internet, get much better prices. That’s because the Internet Sales Manager knows you’ve gotten multiple Internet bids and done your homework. Click on the Get a Quote button to the right to have a dealer email you a competitive price quote. Analysis: The Slowest Selling list is where you’ll find the bargains. These are vehicles at the end of a design cycle or model year, like the 2009 Ford Mustang, that are competing against a 2010. That means the 2009 Mustang, a vehicle built a few short months before that 2010, will sell for a nice discount. Most of the models on the list (PT Cruiser, Dodge Avenger, Jeep Patriot, Pontiac G5 and G6, etc.) are GM and Chrysler cars. Many of these dealers had too much inventory on hand, some dealers were dropped by GM or Chrysler and are having to dump inventory. Furthermore, with the US government guaranteeing all GM/Chrysler warranties, these dealers are offering historically great prices.
Negotiation Tip: If you are interested in a car on the Top 10 Slow Sellers list, you’re in luck. You should be able to get this car at something close to invoice – or better. But the trick is to lock in the price you want now, before going to the dealership. The dealership’s Internet Sales Manager can send you a price by email and he will be more than ready to deal. Just go to the Ready To Buy box on the right, select the make and model you're interested in, and click on Get a Quote.