How to Get the Absolute Lowest Price on New Cars

Donald Trump calls it the art of the deal -- that way he has of turning real estate into millions of dollars. Your car salesman is no Donald Trump, but chances are he knows a lot more about making deals than you do. He practices the art of selling new cars, and you had better learn that art and use it to negotiate the lowest price possible.

Instructions

Preparation

1

Decide exactly what you need in a car. Consider safety features, the average number of miles you drive each year, cargo capacity and all the options you have your heart set on. Don't choose flash over functionality.

2

Research any rebates and other incentives available for the make and model car you have decided to buy.

3

Check website services to determine a fair price for the car. This is also a good time to research the value of your current car, if you plan to trade it in.

4

Locate area dealers who have or could get the car you want. Send emails to each dealer's Internet manager, detailing what is nonnegotiable, such as model and make, and what is negotiable, such as a sunroof or rear spoiler.

5

Schedule a time to test drive the car. If possible, choose a weekday morning because dealership activity is usually slower at that time,

6

Call your bank to discuss loan options. Dealer financing is usually more costly.

At the Dealership

7

Discuss what the dealer will give you for your current car. Tell him your decision to buy a new car at his dealership depends on the trade-in deal. Of course, you can always change your mind and sell the car yourself.

8

Ask the dealer for his best price in writing, then visit at least two other dealerships to comparison shop. Tell each dealer up front that you are not interested in add-ons, such as tinted windows. Dealers often boost their profit by including overpriced add-ons that the buyer did not request.

9

Get price quotes from the second and third dealers. Remember that the sticker price does not tell the whole story. Keep track of all that comes with each dealer's total package.

10

Decide which dealer you will buy from and close the deal, but not before asking if the contract will include any handling or other fees you have not discussed. Take home a worksheet with all the facts and figures for further review.

Taking Delivery

11

Ask the dealer to deliver the car and contract to your home or office. You'll feel more comfortable on your own turf, and since the contract will already be drawn up, you will avoid a last-minute push for financing and add-ons.

12

Compare the typed contract to the worksheet line by line to be sure nothing has changed.

13

Check the automobile for dents or other problems, and be sure all the options spelled out in the contract have been included.