We understand that shopping for a new car can be a stressful experience, there is so much terminology to keep track of and you may have a hard time knowing what not to say when you negotiate new car deals. That’s where we come in- we want to make the process easier by enabling you to request free no obligation to buy new car price quotes from dealerships in ! When you request quotes online you will get access to offers from dealerships in your area as well as insider information that will help you negotiate new car deals successfully.
Understand Car Shopping Terminology Before You Negotiate New Car Deals
There are a few terms you need to understand before you head to the dealership and start your new car negotiations…
Dealer Invoice Price: This is the amount that the dealership is invoiced by the manufacturer for a given vehicle. This value will be the same for a specific vehicle no matter what dealership it is being sold at. For example, a 2014 VW Jetta will have the same dealer invoice price regardless of whether it is sitting on a lot in Miami or New York City.
MSRP: This is the Manufacturer’s Suggested Retail Price; it is the amount that the manufacturer suggests a vehicle should be sold for. Keep in mind that the dealership is under no obligation to price or sell the vehicle at this amount, they can charge whatever they deem fit, which could be above or below the MSRP.
Dealer Cost: This refers to the actual cost of a given vehicle to the dealership. Oftentimes people assume that this is the same as the invoice price, but they would be wrong. This is because there is a holdback that is worked into the invoice price, it is usually 2-3% of the invoice price or MSPR and is returned to the dealership at a later date. It serves to offshoot the cost of the vehicle to the dealership. It also means that if the dealership sells a vehicle at or even below the dealer invoice price, they can still make a profit of around 2-3%. This is important to keep in mind when you negotiate new car deals because you will be able to calculate the approximate profit that a dealership will be making from your offer.
Negotiate New Car Deals- Tips and Tricks
- Do your research. It’s important that you have an idea of the type of car you want before you step into the dealership. This includes knowing what you can afford and what features you can’t live without. It’s also important to request online price quotes so you can compare what the dealerships in your area are offering. Remember a good shopper is an informed one.
- Always negotiate up from the dealer cost or the dealer invoice price, not down from the MSRP.
Do not mention that you have a trade in vehicle until you have agreed on the purchase price of the new car you want to buy.
- Secure your financing before you step into the dealership. You can still see what the dealership may be able to offer you in terms of financing, but it’s good to have options, you may even be able to get better rates through your local bank or credit union.
- Don’t be afraid to walk away if you are not getting the deal you want, remember, with your new car price quotes you will have options and don’t necessarily have to be locked in to one dealership. You can also use your new car quotes to make dealerships compete for your business by leveraging the dealer quotes against each other and driving down the price, whoever gives you the best deal with get your business.
When you understand important car shopping terminology and helpful tips to negotiate new car deals, you will be in a better positions to get a great deal on the new car, truck or SUV that you have your eye on.
Request your free no obligation to buy new car price quote and get started on your shopping today! Its quick, easy and best of all its 100% free and you are never under any obligation to buy.