When shopping for a new car, you need to be careful and avoid rushing into a deal. Why? Because with a bit of patience, you can save some money.
You will need to do a bit of haggling in order to get the lowest price possible, and, although you shouldn’t expect to save a ton of money, there is always some bargaining room when it comes to the price of a new car. Here’s how you can get the best deal on a new car.
Don’t buy on your first trip
It’s in the dealership’s interest to close the deal the first time you walk in the door. It often means that you’ll be accepting a deal that is less than favorable because you haven’t had the time to negotiate something better. Dealerships make their money from impatient car buyers who can’t live without their new car for a few days or weeks.
The solution: don’t be in a rush to buy, and when you first walk into the dealership let them know that you are looking to buy in the near future but not right away. They’ll be more likely to pull out special discounts and deals because - well, a bird in the hand is worth two in the bush. In other words, a car bought today is worth more than a car bought “someday soon,” as there’s no guarantee you’ll actually follow through at their dealership.
Research prices in your area
Prices for new car models vary from one geographic region to another.
The solution: if there is a dealership that is closer to you that you prefer to try first, check prices at other dealers that may be a bit further away. Find out if they will match the price of other dealerships. Bring a printout of the other prices that you’ve found and bring them with you to the dealership. Research as many dealerships as you can for the best chance of finding a low price - let them know you’re savvy about fair pricing.
Negotiate online or on the phone first
It can be intimidating for some people to try to negotiate in person at the dealership. Car salespeople are trained to persuade customers in person, and their techniques can be less effective when you negotiate online or on the phone.
The solution: email or call salespeople at dealerships to get prices and to let them know your intentions before you walk into the dealership. Again, you want to affirm that you are not in a rush to buy a new car and that you are looking for the absolute best deal.
Be willing to walk
So negotiations aren’t working very well.
The solution: you should definitely let them know that you are willing to go to another dealership to find a better deal if needed. New car prices are highly competitive, and the chances are that another dealer will give you a better offer. Get the dealerships in competition with each other and it only benefits you. If you make the mistake of relying on just one or two dealerships, they have less incentive to offer you a great deal. If they know that you are willing to travel a little further to get a good deal, they’ll work harder to save you more money.
The bottom line? Taking the time to negotiate a good price for your car can add to the excitement of your purchase and it doesn’t have to be a stressful experience. And once you’ve landed your perfect ride, come into Convoy Auto Repair for an auto checkup and recommendations on maintenance.
Image: Flickr