If you’re keen on buying a new car this year, be prepared to pay a lot more.

According to Consumer Reports, inflation, parts shortages and the economic recovery have caused prices to skyrocket. But there are steps you can take to get the best deal possible.

Some vehicles are so hard to find that many pay well above the sticker price. For example, Consumer Reports claims to have seen the Jeep Compass selling at 15% above the MSRP, the Chevrolet Silverado 2500 at 17% and the 2021 Kia Telluride currently selling at 18% above the MSRP.

READ: How to buy a used car without buying a lemon

Your best bet, according to Consumer Reports, is to pick a model that isn’t as in demand. And, when you’re ready to face a salesperson at the dealership, be ready to negotiate.

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“Let the seller know that you’ve researched the transaction price for the car and the trim level you want,” said Jon Linkov, senior editor of Consumer Reports Auto.

This means that you should know approximately what the dealer paid for it and already calculated what you are willing to pay. If the seller can meet your target price, let them know that you will be ready to buy immediately and if not, you plan to visit other dealers.

“The seller will try to stay focused on your monthly payment. Insist on negotiating one thing at a time, ”Linkov said. “It’s only after you’ve priced your new car that you should start discussing a trade-in or financing.”

SEE WHAT YOUR TRADE IS WORTH: Consumer Reports Car Value Estimator

Speaking of trade-in, given that the used car market is also tight, Consumer Reports says your old car will probably never be worth more than it is now. There is no reason why a dealer should not at least give you their wholesale value as a trade-in allowance.

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But if you are offered a price that is within your target range, you should probably take it as inventory continues to be low and you might not find the car, or a better deal, at another dealership.

Consumer Reports says if the trade-in talks get too heavy but you’re unwilling to opt out of the new car deal, you can still sell the car elsewhere, including CarMax and online retailers. like Carvana and TRED.

All Consumer Reports materials are copyright 2021 Consumer Reports, Inc. ALL RIGHTS RESERVED. Consumer Reports is a non-profit organization that does not accept any advertising. He has no commercial relationship with any advertiser or sponsor on this site. For more information, visit consumer.org.

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