So you’re ready to buy your new car? We have all the information you’ll need to put you on the same level with the car dealers.
The key to having a successful car buying experience is becoming an expert negotiator. When you purchase a car from a salesman, you are dealing with a trained professional. It is their job to make you feel comfortable while still attempting to get you to spend as much money as possible.
The trick to having a positive experience with a salesman is by adequately preparing yourself for your visit to the dealership.
Here are some tips regarding how you can become a power buyer.
1. Become a new vehicle pricing expert. Dealerships love a consumer that is unprepared. Requesting a free price quote is your first step to doing the proper homework. Request as many quotes as you want, compare different makes and models and learn the full details.
Become an authority on the vehicle that you are purchasing so you can strut into the dealership with the self-assurance of knowing that you have made a solid choice and won’t be shaken.
2. Sticker prices are not nonnegotiable. What many people don’t know: the sticker price of a new vehicle is not the amount the car is strictly worth. The price a dealership pays for a car is lower than the price they will try to sell it to you for.
A free price quote will help you discover the true value of a vehicle. The dealer invoice price is what you should focus on. This is the legitimate amount a dealership pays for the car and you will notice it is lower than the sticker price.
3. Stay organized. Car dealers have a propensity to join negotiations for trade-in values, leasing and options for financing. This is a tactic that allows them to discuss multiple prices at once, so they can cause you think you’re getting a fair deal over-all, however you may be getting cheated in a particular area.
Talk about one thing at a time in your discussions, then move at a pace that you are comfortable with. A good place to start is with the purchase price. Make a reasonable offer which is a few percentage points above the dealer invoice price. Then move on to trade-in value and finish with financing options.
Remember that the buyer has the power in negotiations. You always have the option of getting up and walking out if you are not comfortable with the way the negotiation is going.