Negotiating The Best Deal When Car Shopping |
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Greg James
28 December 2012
There are ways to get a better price on your dream vehicle. It's hard to do this when dealers are just looking out for their own financial gain. However, it is possible if you learn the right approach.
Research used cars thoroughly. It is not hard to find out what the model you want is worth. NADA and Kelly Blue Book are great resources for finding out the value of a car. If your dealer is offering prices higher than the blue book value, you should go to a different dealership.
Never buy a vehicle without taking it for a drive. It doesn't matter how much you know about the car if you don't know how it drives. A test drive also helps you see that everything works properly in the vehicle.
Make sure that your finances are in line before you purchase a car. You'll need to know how much you'll be able to afford. Figure out how much you can spend each month on car payments. Get your financing in place before you buy the car.
You should test drive the vehicles you are interested in. There may be issues that only arise after you have reached a particular speed or drive a certain way. You don't want any surprises once you sign on the dotted line, so test as many maneuvers in the car as you can.
Be careful about who you give your precious social security number to. A lot of places can use this information and they'll take it and use it to run your credit. Having multiple dealerships check your credit will have a negative effect on your score. Because of this, you shouldn't provide your SSN until the deal has been hammered out.
When you are ready to purchase a new vehicle, know your budget prior to visiting the dealer. When car shopping, never go over your maximum budget regardless of what words come out of the dealers mouth. He doesn't have to pay the bill!
Do not let a dealer talk you into buying more car than you can afford. People are often pressured into a beautiful, but expensive car by a good salesman. Remember that the salesperson is trying to make a fair commission, so selling expensive vehicles can help them.
You should wait a while before buying any car model that has been released recently. Otherwise you will pay a very high price for the car. Let the cost go down some before buying it.
Shop for your new car near the month's end. There is usually a quota in place at dealerships which the sales people strive to reach. A salesman may be a bit behind on their monthly quota and be more desperate to make a good sale.
Get a babysitter before you plan to go to a dealership. Having children in tow when trying to purchase a vehicle can be frustrating to all involved. The process will be much more difficult and you might rush into a bad deal.
Do not agree to as-is warranties when it comes to used cars. Doing so is a recipe for disaster. The dealer needs to give you a 30 to 90 day guarantee if you're buying a car. You will have to pay for any repairs if the car breaks down the day after buying it.
The best time to buy a car is typically the close of every month. Dealers are trying to reach their monthly quotas and you could help them with that. Allow yourself several days time at the end of a month to negotiate a deal.
Remember that a salesman wants nothing more than to earn commission and meet a quota. It may be obvious, but a good salesperson may hide this fact. Be wary of extras they try to tack onto a closing sale. That car won't be a bargain if you end up paying a lot for extras.
Find out the value of your trade-in before you go car shopping. When you know how much you'll get back, you'll be better prepared to accept an offer on the new car. Armed with this knowledge, you will be able to haggle if you are offered a price that is unrealistically low for your trade-in vehicle.
Look on the Internet for a good price on the used car you have had your eye on. You really don't have to go to a dealership anymore. Try looking at online classifieds or auction sites, if possible. This is a good way to save money and stay away from the salespeople you will find in dealerships.
After going over this article, it should be easier for you to approach buying a car in a whole new light. You will not feel unprepared or unknowledgable during negotiations. Keep these tips in mind and get out there!