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What You Need to Know about Employee Pricing for Vehicles

Sep 21, 2021 | Car Loans

Everyone wants a reduction off the listed price when shopping for a car. Negotiating for a reasonable price, on the other hand, might be challenging. Fortunately, automakers frequently have sales that highlight your opportunity to purchase a car at an employee-discounted price.

Although receiving “employee pricing” is a bonus of working for an automotive manufacturing company, are customers receiving the same auto financing reductions as employees?

Continue reading to find out.

What Is Employee Pricing?

You may have seen commercials on television promising employee pricing discounts on vehicles from GM, Ford, and Hyundai and wondered if the savings were actual. The good news is that they exist; the bad news is that they do not represent a significant discount. We say this because “staff pricing” in the dealership industry implies getting the invoice price or the price the dealership reportedly pays for the car.

That’s not to say it’s a con; in fact, it’s not technically a con because they’re offering you a decent deal. However, with the power of the Internet, anyone may immediately discover that practically any dealership can do far better than invoice pricing.

What Are the Advantages of Employee Pricing?

Employee pricing reductions are also worth looking into if you’re a lover of the automobile manufacturer offering the campaign (Ford, GM, etc.).

If the thought of bargaining or negotiating gives you the creeps, employee pricing may help you relax because you won’t feel obligated to haggle for a better deal. If your company participates in an employee discount program, it may simplify and streamline the purchasing process.

Employee price incentives can occasionally be combined or “stacked” with other offerings, such as low-interest financing.

What Are the Disadvantages of Employee Pricing?

Employee pricing is unavailable from all manufacturers and may not apply to all models, so the car you want may not be available. It is only accessible to purchase brand new vehicles, which means you may have to spend more than you anticipated. You might be able to get a better rate without employee pricing if you’re excellent at bargain hunting and striking bargains.

Employee discounts are usually only given in the summer to make room for the following year’s models. This means you’ll have to wait until the correct time of year to benefit from this deal. It also indicates that a newer version of your brand-new automobile is on the way.

The Best Ways to Get a Good Deal

While employee discounts are only available during the summer, there are many other options for finding a suitable automobile for the right price. Follow these guidelines all year to ensure you get the best bargain possible:

  • Find the Right Car for You

Decide what kind of vehicle you require before jumping at the most significant price you can discover. Are you looking for a large family automobile or a small commuter car? Is it necessary to be tough and winter-ready, or do you have your heart set on a sleek convertible? There are many tempting deals out there, but just because something appears to be a good value doesn’t mean it’s the most terrific deal for you. Take some time to learn about the many sorts of automobiles that are available.

  • Obtain Pre-approval

Obtaining pre-approval will simplify your car-shopping process. You’ll know what you’re eligible for with a pre-approval in hand, allowing you to focus your search on a specific price range. There are sites where you can get pre-approved online in only a few hours, and the application process takes just a few minutes.

  • Consider Shopping for Pre-Owned Vehicles

While employee pricing is limited to brand new automobiles, it’s essential to realize that dealerships also offer used cars, and there are some great deals to be had. When you buy a used car from a dealership or an online reseller, you can be assured that it has been thoroughly inspected and serviced.

Car dealers and internet merchants also rely on repeat business, recommendations, and online reviews. As a result, you can rest assured that you’re obtaining a dependable automobile. When you buy a used automobile in a private sale, you won’t get the same value for your money as you would with a brand new car, and you won’t have the same peace of mind.

What is the viable option for you?

If you want actual employee pricing, you’ll have to work at a dealership or marry someone who does. If that isn’t an option, do your research and negotiate the best price feasibly.

Get Approved Canada is the loan specialist you can trust if you need assistance with your car financing in Ottawa. Get in touch with our team today, and we will create a personalized plan for you!

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