Purchasing a fleet vehicle, or many of them, is likely to be one of the most expensive affairs for your business. Therefore, while purchasing the right kind of truck, van, or car for your company, the focus must be on getting the best possible value. Mentioned below are some helpful tips to guide you through the process so that you receive the most attractive deals.
Work with dealerships with a dedicated fleet department. There is a distinctive difference between a standard sales department and one that is focused solely on fleet vehicles. In general, sales representatives working in these departments are better equipped to provide competitive pricing upfront and tend to be straightforward. As their job is to move volume, they are prepared to work with smaller margins. In some cases, they also manage finances on their own.
In your efforts to find a low price, don’t let your focus shift from selecting the right vehicle. If the vehicle is not suitable for your purpose, even the greatest deal is a waste for you. To ensure the selection of the right vehicle, consider the following key points.
- Consider the capacity of the vehicle, space required by it, and what will be hauled using the vehicle. This will help you determine whether you need a van, pick-up, or box truck, and its size.
- Consider how the payload will be organized. Accordingly, decide whether ladder racks, toolboxes, and special shelving would be required.
- Think about the maximum number of people that may occupy the vehicle at any point of time. This will decide whether you need a crew cab, extended cab, or regular cab.
- Would the vehicle be used to pull trailers? If yes, what would be the size and weight of the trailer?
- You will also have to choose between two-wheel and four-wheel drives. The added expense of opting for a four-wheel drive is justified only if the vehicle is likely to be driven off-road frequently.
Once you have understood your requirements, it is time to invite quotes from dealerships over the phone or online. If required, step outside your area to find out the available prices. Also, deals are often presented to us as the manufacturer’s suggested retail price or MSRP. This is why buyers commit the mistake of “off sticker” discount negotiation. Unfortunately, even with a $4,000 discount on MSRP, the buyer may end up paying too much for the vehicle. Ideally, instead of the MSRP, your starting point for negotiation should be the dealer invoice.
Before dealing with the trade-ins, you should always finalize the purchase price. This will certainly make more financial sense for you. Also, in many instances, you may notice that the retail incentives and fleet discounts are not compatible. In spite of that, retail programs do offer better savings under certain conditions. To understand which one between retail and fleet discount serves you better, let the fleet rep run the numbers with both sets.
To maximize your savings, ask the dealer to waive the dealer fee, which can be $100 to $600 or more per vehicle. In some instances, these fees are waived-off automatically by the dealers. Therefore, check whether the dealer fee has been added to your vehicle’s price and negotiate accordingly.
Receiving a fair price on fleet vehicles doesn’t necessarily have to be an ordeal. Try to adhere to the tips shared in this article and seek help if you need any other guidance.