SHOPPERS looking for a new ride may be missing out on thousands in savings because of two words most people don’t know to ask.
A driver has claimed she shaved $8,000 off the price of her Cadillac – and says others can do the same using a simple dealership trick.
A woman on TikTok revealed a dealership hack that saved her $8,000 on a “practically brand new” Cadillac[/caption]
She advised to ask for loaner vehicles, which are slightly used cars often not listed online but sold at steep discounts (stock image)[/caption]
The tip is to ask the dealership if they have any loaner vehicles available for sale.
The hack was shared on TikTok by @keyanalawson, who has more than 12,000 followers.
Keyana said she bought a “practically brand new” car for way below sticker price by going this route.
“Did you guys know that you can get a car highly discounted if you purchase a loaner vehicle from the dealership?” she asked viewers.
“Well, that’s exactly what I did for my new vehicle.”
She explained that loaner cars are technically used, but usually come with very low mileage.
“A lot of dealerships don’t necessarily post their loaner vehicles,” she added.
“But if there is a specific car that you are interested in… ask them about any loaner vehicles that they have for that make and model.”
Keyana said this is the second time she has done this while car shopping.
She scored her latest deal on a Cadillac, saving $8,000 off MSRP.
The video has been viewed over 500,000 times, with more than 78,000 likes and 800 comments.
Other TikTok users chimed in with their own success stories using the same method.
One person wrote: “Yess my BMW was a loaner vehicle with 3k miles on it. I got almost 11k off!”
Another user said: “I just did this! I totaled my BMW last week and got the top trim Toyota Camry XSE AWD for cheaper than the base model! 9k off! 3k miles.”
Tips on buying a used car
When looking to buy a used car, U.S. News & World Report experts have a few tips before walking onto the sales lot.
- Set a realistic budget. Some cars are more expensive to insure and register than others depending on engine type, body style, weight, and the amount of doors. Before being swindled by a crafty salesman, it’s important to know what you can and can’t afford.
- Researching what car would fit best into your lifestyle can save a lot of time. Would a sedan work better for your garage or narrow street? Would a truck meet hauling or towing needs? Knowing what suits your needs can narrow down your options.
- Look into certified pre-owned cars. Certified pre-owned cars are backed by the manufacturer and come with comprehensive warranties at affordable prices. Some manufacturers have better deals on CPO cars, so research diligently.
- Not all financing options are created equal. Depending on where you look to finance, if that’s on the table, be very careful about who you finance with. Your best option would be to get preapproved by your bank before going in to give you an idea of what rates are affordable, and to give a dealership incentive to meet or beat those rates.
- Consider a used car inspection. Depending on where you’re buying a vehicle from, you can opt to pay roughly $200 for a used car inspection to have key components examined by an expert.
- Consider a vehicle history report. When things get close to signing, buying a vehicle history report based on the VIN can help clarify the previous owners, maintenance records (if it was taken to a dealership), title status, and more.
Source: U.S. News and World Report
A user asked in the comments if this discount still applies when trading in a vehicle.
“Yes you can,” another user replied. “I just traded in my 2016 Chrysler 200 to a 2024 Buick Encore with no money down and it’s a wash on my old vehicle.”
“They’re also called ‘demos,’” they added.
One commenter said they got a Lincoln worth $42,000 as a loaner with 2,000 miles on it – and paid only $26,000.
Another said: “Yup, my BMW was a loaner – 5k miles, full factory and maintenance warranty, and it was 15k off.”
“As someone who used to sell cars… she’s very correct! Save that money y’all!” one former dealership worker wrote.
Some users said buyers can score similar deals toward the end of the month or year, when salespeople are trying to hit quotas.
One viewer wrote: “You get a vehicle highly discounted, buying at the end of the year, end of the month too.”
Another added: “I learned stuff AFTER they scam me.”
