One of the biggest purchases you will make, besides your house, is your car. The prices on new cars keep getting higher and higher so it is important to know how to get the best deal on your new car.
The tips I am going to share with you can be used anywhere but I am going to be speaking more about getting the best deal at car dealerships instead of buying a car somewhere online, no matter what make and model you’re looking for.
Before you even head to the dealership, do your homework. Know exactly what kind of car you want or at least have it narrowed down to two different ones.
Know your budget and stick to it! Look at all the options the car you want comes with and figure out which upgrades you can live without.
How to Get the Best Deal on your New Car
The Test Drive
Once you get to the dealership, be kind and courteous to the salesman. This will help you in the negotiation process. No one wants to work with someone who is rude and standoffish. Once you go on the test drive don’t let the salesman know how much you like the car. Don’t show any emotion.
They will ask you questions like, “This handles pretty good, huh?” to try and make you talk yourself into liking the car. It is a classic sales tactic. Just be nonchalant about it and act indifferent to the car itself, even if this is the car of your dreams.
How to Negotiate Car Price
Don’t be the first to throw out a number
Once you figure out that this is the car for you, then comes time to negotiate car price so you can get the best deal on your new car. Don’t rush this part, make sure you have plenty of time and nowhere else to be.
Most of the time, the salesman will ask how much you will offer them for the car, don’t answer! Instead, ask them how much they are thinking. You want them to start off the negotiation first.
Give them the lowest number that is reasonable, don’t say $2,000 if it is starting at $10,000. When they come back and say, “No, we can’t do that, I can’t even take that number to my supervisor.” just be silent.
Don’t be afraid to make things uncomfortable. Just be positive and stand your ground. More often then not, they will go to the back with your offer and come back to you with another offer.
Now or Never Sales Tactic
Don’t fall for the “now or never” sales tactic. They will usually say something like, “This price is only good for this weekend, or this holiday.” They are trying to create a sense of urgency for you to purchase.
Think of all the sales and ads you see on TV for car dealerships, there is always going to be a sale. Don’t feel like you have to purchase that day.
One of the best things you can do is shop around. Go to at least 3 dealerships and see the lowest price they will offer you.
Once you get to the third dealership, you can confidently let them know what the other lowest offer is and that they will have to offer you a lower price or match it and give you some kind of incentive for you to keep your business with them.
Don’t be Afraid to Walk Away
Lastly, don’t be afraid to walk away. If the salesman isn’t going to take your offer seriously, you can always find someone else who will, as long as it is a reasonable offer.
Thank them for their time and walk back to your car. A lot of times, they will chase you into the parking lot with a better offer. If not, then you know that you can just keep shopping around.
These are just a few tactics to help you feel more confident about getting the best deal on your new car. If you want some more advice, you should check out the book, Car Buying 101. This is my affiliate link but this book is full of great information and it is less than $3 so it is worth checking out!