Buying a new or used car involves research, negotiation and knowing your budget. Follow these tips to get the lowest price and best experience when purchasing your next vehicle.
Buying Smart: How To Get A Great New-Car Deal
To maximize savings on your next car, strategic preparation is key:
- Research prices online for the make, model and specs you want. This gives you a target price range to aim for.
- Check current offers, deals and incentives available from manufacturers. Consider timing your purchase around big sales events.
- Obtain finance pre-approval so you only focus on the vehicle price at the dealership.
- Quote identical vehicles across several dealers to leverage price competition.
- Figure out your maximum budget and do not exceed it in negotiations. Stick to what you can afford.
- Inspect the car thoroughly, test driving and check its history. Don’t ignore issues or defects.
- Be ready to walk away if you can’t get a fair price. Patience usually pays off.
- Avoid mentioning trade-ins or financing until you’ve negotiated the vehicle price. Keep those discussions separate.
- Get all terms, fees and conditions in writing before signing. Don’t rush important fine print.
Preparing in advance and employing these strategies helps secure the best price from whichever dealer you choose.
How to negotiate when buying a car
When dealing with salespeople, keep these negotiation tips in mind:
- Take your time and don’t feel pressured into accepting a deal. Dealers use high-pressure tactics to get sales.
- Say you need to “think about it” or check with family on any offer. Never commit immediately.
- Avoid disclosing personal details like payment methods. This loses your leverage for a discount.
- Counter unreasonable offers with lower figures supported by your pricing research.
- If they refuse to negotiate seriously, be willing to leave and try elsewhere.
- Secure the agreed price in writing before considering extras like warranties. Don’t get distracted by add-ons.
- Offer to complete the purchase today if they can meet your target price. Set firm expectations.