Buying a new car is an exciting experience. With the latest safety features and comfort options available in new cars, driving off the dealer's lot with a new car can be invigorating and refreshing. It's even better knowing that you got a great deal on a new car without breaking your budget. Fortunately, there are several ways to negotiate the best deal on a new car so everybody wins.
Know the Car You Want
Before you even start talking with a car sales representative, decide on the type of car you want to buy. Are you looking for something practical such as a mid-sized sedan or do you want something larger such as a full-sized SUV? Is this going to be a vehicle you drive to work every day or will you just drive it on weekend trips? In addition to your new car's purpose, considered the price range along with the price of insurance, fuel and maintenance.
Once you have a list of possibilities, compare the cars on your list against each other. Websites such as IntelliChoice will help you compare safety features, specifications and prices of various models so you can see which cars on your list are the best deals.
Finally, take the cars you are considering for a test drive. Make it clear to the sales representative that you have no intention of buying a car just yet and that you are just testing a few vehicles out before making a final decision. The salesperson may try to make a sale, but resist the pressure during this phase.
Negotiate Online or Over the Phone
Negotiating over the phone or through email is an ideal way to get leverage in a car purchase. In addition to saving time, it is also easier to walk away from the deal if you are not satisfied with the terms. After making your final decision, call area dealers on the phone or email them to find out if they have your vehicle in stock. If they do not have one in stock, ask if they can get one.
After determining the availability of the vehicle, negotiate a price. If the first dealer you contact gives you one price, use that as negotiating leverage with the dealers you call after that. Discuss the total price of the car before discussing payments, financing or anything else.
Once you have settled on a price, discuss the financing arrangements. It is important to keep these two discussions separate because a salesperson may offer lower monthly payments for a longer term, which would increase the total price of the car. However, once the price has been determined, the financing arrangements are based on that price.
Finally, discuss your trade-in if you have one. By keeping this last and separate, you are more likely to get a higher price for it. If the salesperson asks about your trade-in before discussing the price of the new car, simply say you will discuss that in due time.
Be Reasonable
A car dealer is more likely to work with you if you are a reasonable customer. If you are trying to get something for nothing and offering thousands of dollars less than the new car is worth, the dealer may get mad and become unwilling to work with you. The dealers and sales representatives have to make a profit so keep that in mind when negotiating a deal on a new car.
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