Maybe you were never able to get a good deal when you bought your new or used car. Most dread the negotiation, and you may wish you were better equipped to handle it. When you’re properly prepared, things will go smoother. Use the advice that follows, and take control of your own destiny.
Always ask the seller if they are willing to let you do a test drive. While some private sellers may not offer you the chance to do a test drive, there are many that will. You should try to do your deal with someone who will allow you to see how the car runs.
Know your limits. Before you start shopping for your next car or truck, decide how much you can afford to pay, and stick to it. Don’t forget to include interest in your calculations. You can expect to pay around 20 percent as a down payment as well, so be prepared.
Find out about the different warranties that are available. You do not want to spend a couple thousand dollars on a warranty that is not going to cover the repairs that commonly occur. Instead, shop outside of the dealership to find one that will cover the repairs at a better price.
Safety features are a must when car shopping. Select a vehicle with anti-lock brakes, if possible. It is also important to have air bags. You are sure to spend lots of time driving, and therefore safety should be a top priority.
Consider selling your car privately, rather than trading it in for the new car you want. You will almost always get more for your car through a private sale than you would through a trade in. Even if the dealership makes it sound like they are giving you a great trade in value, they will likely raise the price somewhere else to make up for the difference.
Never dress up to go to a car dealership. It will be harder to make a deal and convince someone you deserve a better price on a vehicle if you are draped in expensive clothing. While you want to appear neat and clean, do not wear anything that will make you look more well off than you are.
If you don’t think that you can stay away from the pressure during any sales pitches, you shouldn’t go shopping alone for a vehicle. You can bring a family member or friend to help you with negotiations. Let your adviser know about your needs and budget before you set foot on a car lot.
Before you go in to look at a new car, make sure you have thoroughly researched the proper trade in value of your current car. In fact, why not try to sell it yourself first before you buy. Either way, you will get more from your vehicle if you know what it is really worth.
When you are considering buying a used car, always have your mechanic check it out first. You are not a qualified mechanic trained to spot problems or repairs, so you need to take it to a professional. Be prepared to pay $100 or so for this service, but it may end up saving you thousands.
Stand firm on your down payment. Cars can be sold with no down payment; however, some money down will help the final cost. Be wary of sellers who ask you to increase your down payment. This extra money will typically only go into the pocket of the salesperson and dealership, and does not help your bottom line.
Make it clear to a car dealer that you have a certain budget, and you want to stick to that. This can stop them from offering you vehicles that are far more than you can afford. Be firm on that and do not bend. This will make it more likely for you to get a car that is well within your budget.
How the staff at a dealership treats you when you arrive and thereafter show a lot about how they work. If the same salesperson takes you from start to finish, you have a good lot. If they pass you off to a high pressure “closer,” you might want to head to another location.
When a salesperson presents your offer to the manager, you should know the offer they bring back to you is still not the lowest you can get. The second time will be the better deal, and likely the lowest. At this point, they will want to close the deal quickly, so their price should be the lowest it can be.
Review the car’s “hidden” costs. For example, various models come with different insurance premiums, miles per gallon, resale values and costs of repairs and maintenance. Before you decide on a purchase, learn about the car’s requirements for oil changes, gas, and replacement parts. This can make a huge difference in what your true cost is.
Whenever you are looking to purchase a particular car that you’ve already researched, save yourself some time by making sure that your dealer has that car in stock. Often times people will negotiate for a car only to find out that the dealer needs to order it, giving you an added expense.
Those looking to purchase a new car should understand that getting the latest model right when it comes out is going to limit how much you will be able to negotiate. Fresh cars are often lower in supply and higher in demand so you’ll be paying quite a bit more than those who wait a few months.
If you are eligible for a great rate on an auto loan from a car dealership for the purchase of your vehicle consider the length of time the loan is for. If you can pay off your car sooner, you can save money by reducing the interest you pay, even if that interest is at a low rate. For instance, you can ask the car dealership whether a five-year loan can be reduced to a three-year loan at the same rate.
Great deals never just appear. You need to be aware of how to obtain them, as well as how to properly negotiate. You have to take apart their math, and you have to have your own. Use the advice from this article to defend yourself.