We’ve all heard the horror stories, someone finds a great price on a new car only to be tricked into paying more by a fast-talking salesman. This doesn’t have to be your story, before heading to the dealership there are some simple things to learn. By understanding a few tricks, you can gain the upper hand and out negotiate the negotiator!
The last thing you want to rush out to buy the new car that caught your eye. Uniformed buyers are every car dealer’s dream, easy targets. Stop, take a breath and sit down at your computer. Look at that, you’ve made it this far with no advice at all!
First, you must find out the actual price of the car you want. You can plan to begin negotiating at about $500 less, or even lower if you add on dealer cash, rebates or other incentives. Expect to pay around 6% more than invoice price, give or take.
To learn pricing information, dealer cost, current rebates and incentives use a free online service such as 25BestNewCars.com. Get a no-obligation new car price quote and receive multiple offers from local dealerships. You can also find the current 25 best new car deals by selecting from our regularly updated list.
If you want to visit the dealership, it’s best to go during weekdays, dealers will be less occupied with other shoppers and more likely to take the time to bargain. The end of the month is a great time to negotiate as dealers may be struggling to reach sales goals. The end of the year is another great time to find the best deals on outgoing models.
If you’re aiming to get the best deal possible it’s best to negotiate via phone, fax or email until you have settled on a price. Then you’ll just need to visit the dealership to sign the contract and pick up your new vehicle. Negotiating from your home or office will not only boost your confidence, but also give you time to consider every offer. Feeling less stress and pressure will force the dealer into your arena.
Remember, you are the one in control of the situation. There are plenty of other car dealerships eager to sell you the vehicle you want. Do not be pushed around. If you feel extremely pressured or uncomfortable, walkaway. Simply make the dealer an offer, wait to hear a response, and be clear that all prices include dealer fees. Gain added control over the situation by arming yourself with quotes from competing dealerships. Nothing will give a dealer that needed push like saying, “Down the street I can get this car for $1,000 less.”
Dealers love to tack on fees at the end of the negotiating process, this is why it’s vital to make sure the price you’re dealing with includes all additional costs. Just because you’ve finished the hard part, keep sharp and review the complete deal in writing. Don’t be afraid to ask questions and if you find an “add-on” you aren’t interested in say no!