Ask anyone who has bought a car lately what their least favorite part of the process was and they’ll likely say, “Negotiating with the salesperson.” No matter how nice your salesperson is, or appears to be, it may still be hard to shake the feeling that you’re being had. But with a little education, you can turn the game more in your favor.
Before you ever head to the dealership, do your research. Imagine the use of the vehicle for your family. Do you have kids and need to install car seats? You might not be interested in a two-door car then. Or do you need to cart large objects on a frequent basis? Then a minivan or truck might be better suited for your needs.
Use the Internet to review all the makes and models and options you might be interested in, so when you arrive at the dealership, you’ll be able to go right to the car you want to buy. Edmunds.com is a great place to start. The site has both new and used car sections that allow you to comparison shop by price, make, model and options.
Here are some car buying tips you can try to help you get a good deal on your new car:
1. When you are first approached by a salesman at the dealership, exude confidence. Let him or her know you are there to buy a car, and already know exactly what you want and how you will pay for it. All that needs to be discussed is price. At this point, you will likely be brought to a tiny office and asked to sit down and begin negotiations. Make your offer, then sit back quietly and wait for a response.
2. If the salesperson tells you that no dealer will sell to you at that price, respond by saying, “I’m sure there’s some dealership in the area willing to do the deal. But I’m here with you and I like you so why don’t you take my offer to your manager and let’s see what he says.” Regardless of how much the sales person tries to pressure you, under no circumstances should you raise your bid. Wait for the counter offer. If it comes back too high for your budget, make a counter offer that’s $100 higher than your original offer and see what happens.
3. If it doesn’t look like the salesperson is going to either accept your offer or negotiate with you, be prepared to get up and leave. Once they realize that you won’t budge in your price, they’ll either sell you the car at that price – or they won’t.
4. If your offer is accepted, you’ll next head down to the business office to discuss car finance options and available extras. Visit www.cars.com/for-sale so you can do this research ahead of time. Look up current interest rates for loans and check out the auto loan calculator to determine what your payments could be. If you want to finance your purchase with a loan, consider getting pre-approved so you don’t experience any surprises the day of.
You may want to discuss leasing options, rather than outright purchasing the car to make it more affordable in the short term. But keep in mind, if you drive long distances or are a heavy user of your vehicle, in the long run, you might be better off by paying for the car in full at the time of purchase.
Available extra options you’ll be offered may include: an extended warranty, rust proofing, window tinting and an alarm system. All of these items are optional and have their merits, but you need to know if they’ll pay off for you. For example, does your state allow window tinting? If it has restrictions, you don’t want to spend money on the tint only to receive citations later. Do a little research before sitting down at the negotiation table to determine if the “extras” are worth the money.
Once you’ve signed your name countless times – it will be worth it – as you’ll be able to take ownership of your new car.
