If you’re looking to purchase a vehicle before the end of the year, there are some new items that should benefit new car buyers.
TRUMP ADMINISTRATION AND TRANSPARENCY
The Federal Trade Commission (FTC) under the Trump White House just gave car shoppers a new pricing reality check.
The FTC just issued new guidance reiterating that advertised vehicle prices must be transparent. This includes that if a dealer requires a fee to purchase the vehicle, that charge generally must be reflected in the advertised price, aside from government-required charges.
CONSUMERS USING AI TO FIND BETTER DEALS
October and November are historically strong months for used-car discounts
Cox Automotive reports that 63% of in-market shoppers expect to use AI during their next vehicle purchase.
Automotive retail analysts and consumer advocates Ray and Zach Shefska say car shoppers should use AI to uncover pricing problems, challenge questionable fees and arrive at the dealership better prepared than ever.
ADVICE TIPS USING AI WHEN BUYING YOUR NEXT VEHICLE
Consumers need to compare online advertisements with the actual buyer’s order and flag discrepancies?
Ask AI to audit the deal before you sign it: Buyers can feed the individual line items from a quote into AI and ask it to categorize the selling price, government charges, dealer fees, add-ons and financing costs, then identify items they should question. What should consumers look for, and what information should they never upload?
AI can help shoppers spot protection packages, accessories, service products or other charges that appeared between the advertised price and final paperwork? The FTC says dealers cannot misrepresent optional products as mandatory or charge consumers for options they did not agree to.
Ray and Zach Shefska advise users not to ask AI, “Is this a good deal?” That’s too vague.
Use AI before discussing monthly payment: Why shoppers should first establish vehicle price and financing terms separately, then use AI to calculate what interest rate, loan length and add-ons are actually doing to the total cost.
But beware, AI can produce inaccurate incentives, fees, vehicle specifications or financing information. Which answers should always be verified against original dealer documents, lender terms, manufacturer offers or government sources?
“This is all about negotiating power. Consumers aren’t necessarily using AI to eliminate the dealership. They’re using it to arrive better prepared,” said Ray and Zach Shefska.
