Drivers shopping for a Chevy Silverado 1500, Ford Edge or Toyota RAV4 might score a better deal if they skip the dealership and shop from the comfort of home.
Those vehicles offer shoppers the biggest savings when purchased from online dealers instead of local brick-and-mortar sellers, according to a study by automotive research firm and car search engine iSeeCars.com.
In its analysis, iSeeCars.com looked at more than 9.4 million used cars sold in 2018. The site discovered that consumers could save an average of 0.8% — or $185 — simply by making their purchase from an online dealership.
Although the average savings is $185, some vehicles can score you a much bigger price break, says iSeeCars.com CEO Phong Ly:
“If you purchase a Chevrolet Silverado 1500 from an online dealer rather than a local dealer, you could save $1,958 off the average price of $30,002.”
The 10 car models that nab you the best deal when purchased from online dealers — and the percentage you can expect to save compared with buying from local brick-and-mortar dealers — are:
- Chevrolet Silverado 1500: 6.6% average savings
- Ford Edge: 6.4%
- Toyota RAV4: 5.7%
- Ram Pickup 1500: 5.5%
- BMW 4 Series: 5.4%
- Chevrolet Equinox: 5.2%
- Honda CR-V: 4.9%
- Mercedes-Benz E-Class: 4.8%
- Lincoln MKC: 4.8%
- Jeep Cherokee: 4.4%
Examples of online-only car dealers include Carvana, Shift and Vroom.
Getting the best deal on a car
Whether you plan to buy a car online or through a traditional dealership, research is the key to getting the right car at a great price.
As we reported in “8 Tips for Buying Your Next Car for Less,” smart shoppers know the true value of the cars they are considering:
“Kelley Blue Book and Edmunds are good places to start, but don’t stop there. Those sites approximate a car’s market value. But in the end, capitalism rules. Supply and demand dictate actual prices.
Cruise Craigslist and browse the online ads to get a feel for prices in your area. You want to have a good grasp of local prices before you set foot on a dealership lot.”
Here at Money Talks News, we also suggest buying a used car if you want to save money. But that doesn’t mean “the bumpers are falling off” used.
In fact, you can buy a barely used car and still score a great deal. For more, check out “10 Lightly Used Cars You Can Buy at a 50% Savings.”
How do you like to shop for a car? Let us know in comments below or on our Facebook page.
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