Buying a new or used car from the dealership can be one of the most exciting purchases you will make. The opportunity only comes around every so often, but with the price tag involved making sure you have the best strategy to secure a great deal should be a priority. If you ask around, you will likely get a variety of advice on what the best tactics are, with some of that advice undoubtedly being better than the rest. If you are like me, you’ve often wondered if you are getting the best deal, or if you are leaving cash on the table by forgetting some critical piece of the car buying puzzle that could have landed you a better deal.
In the process of buying a number of both new and used cars from dealerships, I can honestly say that I’ve experienced both sides of the car buying experience. After some hard lessons learned, here are the essential tips I have learned to be critical in you securing the best deal on your new dream car.
Get Your Financing First
Shopping around for the best rate on a car loan, whether it be new or used, can save you time and headaches down the road. By having the money side of things figured out before you start shopping, you can go into the process with a realistic budget you feel comfortable with and won’t have the heartbreaking realization that you can’t afford the car you want later on.
Do Your Research
With any major investment, it’s important to do your research ahead of time. Before you go to the dealership and subject yourself to a potentially slippery sales associate, know what cars are the best for you and a ballpark of how much they should cost with the options you want. Shopping at the dealership without this info can have you thinking with your eyes and emotions, not your wallet and logic.
Show Up At The Right Time
It’s no secret that there are times throughout the month and year that are better for buying a car than others. The most common misconception is that by showing up before the dealership closes, you are likely to get the best deal, as the salesperson helping you want to wrap up their day. This is, unfortunately, not how it works. Better advice is to take advantage of the end of the month or end of quarter sales put on by dealerships looking to hit quotas and clear out inventory. Take advantage of these sales and see huge savings when it comes time to pay!
Shop Around
When you’ve found the car you want, you must shop around at multiple dealerships to see who is willing to give you the best price. Remember that this is a business transaction and not a favor, so don’t expect royal treatment. Because you are the one putting money down, make sure you put your options through their paces. One dealership will be willing to go lower than the others; it’s just a matter of finding it.
Negotiate Correctly
Being willing to walk away is the most significant rule of negotiation. Remember that you hold all of the power as you are the one paying for the car; don’t get bullied by a pushy salesperson. Set a time limit with them out front and let them know you mean business by having the research you’ve done with you. If it feels like they are jerking you around, it’s time to stand up and walk away. Often, they will reach out and call you to meet in the middle before you even get home!
Buying a car can be a fun and exciting process. The beauty of the car market is that you have a ton of options and many dealerships who are more than happy to make your dreams come true. Don’t get wrapped up in the emotion of it all, though, or you may find yourself on the receiving end of a bad deal. Stick to your guns, do your research, and know that you deserve the best price. If you commit to holding your course, you will come out the winner every time! Happy Hunting!
Buying a new or used car from the dealership can be one of the most exciting purchases you will make. The opportunity only comes around every so often, but with the price tag involved making sure you have the best strategy to secure a great deal should be a priority. If you ask around, you will likely get a variety of advice on what the best tactics are, with some of that advice undoubtedly being better than the rest. If you are like me, you’ve often wondered if you are getting the best deal, or if you are leaving cash on the table by forgetting some critical piece of the car buying puzzle that could have landed you a better deal.
In the process of buying a number of both new and used cars from dealerships, I can honestly say that I’ve experienced both sides of the car buying experience. After some hard lessons learned, here are the essential tips I have learned to be critical in you securing the best deal on your new dream car.
Get Your Financing First
Shopping around for the best rate on a car loan, whether it be new or used, can save you time and headaches down the road. By having the money side of things figured out before you start shopping, you can go into the process with a realistic budget you feel comfortable with and won’t have the heartbreaking realization that you can’t afford the car you want later on.
Do Your Research
With any major investment, it’s important to do your research ahead of time. Before you go to the dealership and subject yourself to a potentially slippery sales associate, know what cars are the best for you and a ballpark of how much they should cost with the options you want. Shopping at the dealership without this info can have you thinking with your eyes and emotions, not your wallet and logic.
Show Up At The Right Time
It’s no secret that there are times throughout the month and year that are better for buying a car than others. The most common misconception is that by showing up before the dealership closes, you are likely to get the best deal, as the salesperson helping you want to wrap up their day. This is, unfortunately, not how it works. Better advice is to take advantage of the end of the month or end of quarter sales put on by dealerships looking to hit quotas and clear out inventory. Take advantage of these sales and see huge savings when it comes time to pay!
Shop Around
When you’ve found the car you want, you must shop around at multiple dealerships to see who is willing to give you the best price. Remember that this is a business transaction and not a favor, so don’t expect royal treatment. Because you are the one putting money down, make sure you put your options through their paces. One dealership will be willing to go lower than the others; it’s just a matter of finding it.
Negotiate Correctly
Being willing to walk away is the most significant rule of negotiation. Remember that you hold all of the power as you are the one paying for the car; don’t get bullied by a pushy salesperson. Set a time limit with them out front and let them know you mean business by having the research you’ve done with you. If it feels like they are jerking you around, it’s time to stand up and walk away. Often, they will reach out and call you to meet in the middle before you even get home!
Buying a car can be a fun and exciting process. The beauty of the car market is that you have a ton of options and many dealerships who are more than happy to make your dreams come true. Don’t get wrapped up in the emotion of it all, though, or you may find yourself on the receiving end of a bad deal. Stick to your guns, do your research, and know that you deserve the best price. You have to take control of the car buying experience or you will let the salesman do that for you. I don’t think I need to explain why this may not be in your best interest. If you commit to holding your course, though, you will come out the winner every time! Happy Hunting!
