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Why new car quotes can differ between car dealers Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering you interactive tools and financial calculators as well as publishing objective and unique content. This allows users to conduct research and compare information for free – so that you can make sound financial decisions. Bankrate has partnerships with issuers such as, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The products that are featured on this site come from companies that compensate us. This compensation can affect the way and where products appear on the site, such as the order in which they may be listed within the categories of listing, except where prohibited by law. This applies to our mortgage, home equity and other products for home loans. However, this compensation will not influence the information we publish, or the reviews you see on this site. We do not contain the vast array of companies or financial offerings that might be accessible to you. SHARE: Owaki/Kulla/Getty Images

4 min read Published October 24, 2022

Written by Kellye Guinan. Written Personal and business finance writer Kellye Guinan is a freelance editor and writer with more than five years’ experience in personal financial planning. She is also a full-time worker at her local library, where she assists the community to access information about financial literacy, among other topics. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to manage their finances by providing precise, well-researched and well-documented facts that break down complicated topics into bite-sized pieces. The Bankrate promises

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They ensure that what we write is objective, accurate and trustworthy. The loans reporters and editors focus on the things that consumers are interested about the most — the various types of loans available as well as the most favorable rates, the best lenders, the best ways to pay off debt and more — so you’ll be able to feel secure when making your decision to invest your money. Editorial integrity

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You have money questions. Bankrate has the answers. Our experts have been helping you master your money for over four years. We continually strive to provide consumers with the expert advice and tools required to make it through life’s financial journey. Bankrate adheres to a strict code of conduct , so you can trust that our information is trustworthy and accurate. Our award-winning editors, reporters and editors provide honest and trustworthy information to assist you in making the right financial choices. Our content produced by our editorial staff is objective, factual, and not influenced through our sponsors. We’re open about the ways we’re in a position to provide quality information, competitive rates and useful tools for you by explaining how we make money. is an independent, advertising-supported publisher and comparison service. We receive compensation for the promotion of sponsored goods and services or through you clicking specific links on our website. Therefore, this compensation may influence the manner, place and when products appear within listing categories, with the exception of those prohibited by law for our mortgage or home equity, and other home loan products. Other factors, such as our own proprietary website rules and whether or not a product is available within your region or within your personal credit score may also influence the manner in which products are featured on this site. While we strive to provide an array of offers, Bankrate does not include specific information on every credit or financial product or service. Car dealership quotes for new vehicles are based on many factors beyond make and model. Although every manufacturer has a standard MSRP but it’s not the final cost you’ll will pay. The median price for a new car is about $48,000, according the research, but you could find the same car with lower or higher prices at various dealerships. The dealership will rely on location, wholesale price as well as other factors to decide on the price of the sticker. It is your responsibility to negotiate the cost to suit your budget. Car quotes can differ between car dealers Prices for cars are very flexible. Dealerships are aware of the amount they have to be charging to earn a profit — and could even increase your interest rate if you opt for . Car dealership quotes rely on a variety of factors, so even a common new car model may cost more at one dealership than another. Manufacturer wholesale pricing isn’t set Manufacturers sell their vehicles at different price points to dealers. The price — or amount that dealers paywill depend on the connection between dealer and manufacturer. While one dealership may get a brand new car for $40,000, another dealership could be able to receive it for $50,000. This is due in large part to incentives and rebates offered by manufacturers. This variation in wholesale value is passed on to the buyer. In order to increase profit margins, the dealership that bought the car at a greater price may charge you more even if the vehicles are the same. The MSRP, or manufacturer-suggested retail price, is not the maximum possible price. The dealer’s costs and other fees will be included in the price on the sticker. Dealerships work with different lenders They are intermediaries to lenders when they offer financing. Interest rates are never fixed in stone and are based on the lender’s requirements and the credit bureau that your score is derived from, as well as other aspects of your financial position. Also, a dealer’s estimate for a loan could be more expensive than if you made an application with an . Dealerships usually mark up the rate that they offer from their lenders to make profits. These variables will affect the total cost of the car and the monthly installment you pay. And if you haven’t applied to finance yet, the dealership might be offering you an interest rate you won’t meet the requirements for. Ideally, you should check the rate prior to visiting an auto dealer. Dealerships appraise trade-ins differently If you are planning to trade in knowing that, you should be aware that different dealerships have different standards and offer different deals to trade in your vehicle. If you are using your trade-in to offset the cost of your new vehicle and monthly payments don’t match up among dealerships. You can make the most of your trade-in by shopping all around. It is not required to purchase from a dealer that will accept your trade-in. Your best course of action will be to sell your current vehicle at the best price, then make use of it as a part of your down amount. If you trade in your old car and buy another one from the same dealership and negotiate both transactions in a separate transaction. The cost of selling your trade-in should not impact your next car’s purchase price. Dealership fees vary widely Dealerships charge fees for overhead, application processing and other parts of the process of buying a car. As these differ widely between dealerships and are worked into the total cost of your car and can affect the cost of buying. The majority of these charges are negotiable — and there are even some that you should be wary of. VIN etching gaps insurance and extended warranties are all bought individually from third parties. Certain fees, such as destination and documentation fees, are determined by the state or the dealership. They must be paid and they may not be adjustable unlike other elements of the cost of the purchase. Even if you try to negotiate the price of the car and secure financing from other sources than the dealer, you could not be getting the best deal. This is why comparing prices as well as getting estimates from several sellers is crucial. The lower price could end up raising the price. It is important to consider the location. Dealerships can price the same vehicle in different ways because of their location. Taxes (both local sales tax and taxes — will change the margin of profit on a sale. And dealerships may have a higher price in areas that have high income. If you’re looking to avoid the high tax rates in your state through travel not bothering. You will need to pay the taxes that are imposed by the state in which you register your vehicle. However, if you discover a great deal for an automobile that is brand new in a couple of towns the border, that’s not the case. It could be worth the trip when you get enough cash to take care of the duration, the gas, and delivery expenses. Outside financing could help bring the game to a level playing field. One of the main aspects that affect your monthly payments is your interest rate. Dealerships work with lenders to offer loans, however, to earn a profit, they often upcharge interest. If, for instance, you are eligible with an APR that is 10 however, you could be charged 12 percent by the dealer. You can avoid this by requesting financing with a bank, or online lender. Since there’s no go-between you’ll get a more attractive interest rate. After being preapproved by a variety of external lenders, you’ll be able to check if the lender will beat your best rate. Either way, you should be able to for your financial situation using this method. Getting outside financing can mean the possibility of a lower monthly cost. You’ll also have more standing to negotiate the total vehicle cost with the dealership. If you’re only able to afford $30k to spend then you’ll be able to negotiate more about the purchase price, as well as taxes and fees. The bottom line is that there are many reasons that the same vehicle could cost you more at a different dealership. For the best price be sure to do your research . With the right negotiationskills, you could score a solid price. Keep taxes and fees in your mind when you look at the total cost of your next ride.


Written by Business and personal Finance contributor Kellye Guinan is a freelance editor and writer with over five years of experience in personal finance. She also is an employee full-time at her local library, where she assists her community access information about financial literacy, among other subjects. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate from late 2021. They are passionate about helping readers feel confident to manage their finances with concise, well-studied and well-researched content that break down complicated topics into digestible pieces.

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