If this is your first time to buy a new car then you are in luck. Can you imagine the good old days when car dealers can simply bewilder any type of car buyer into buying a new car even at an absurd price? Here are the simple steps that you need to know on how to buy a new car with confidence by simply finding the true dealer cost.
Step 1: Concentrate on the bare essentials.
This simply means that you should have at least three (3) things ready:
1. Your credit report.
2. The down payment; and
3. The true dealer cost of the car that you want to buy.
Do not even think about buying a new car if you are missing any of the above factors. Remember that you should have an average or good credit score and should at least allocate 20% to 40% of the total price of the car for a down payment. Anything less than the above will greatly affect your chances of getting the lowest new car prices.
Step 2: Determine the true dealer cost.
You can figure out the true dealer cost by using the invoice price or you can simply ask for a free online quote. Either way, knowing the true dealer cost is an assurance against dealer scams and overpricing.
Step 3: Keep mum on how much you are willing to pay.
Now that you have everything that you need, you can then approach any type of car dealer and inquire about the car that you wish to buy.
The agent or salesman will most likely approach you with the intention of offering zero-down financing deals or extremely low monthly payments. This is all well and good as long as you don't divulge the amount that you are capable of paying.
1. Never talk about car financing until you have settled the final selling price.
2. Only present the true dealer cost if the car dealer insists on an unreasonable price range.
3. If the car dealer presents to you the dealer invoice price, then tell him/her that you are only willing to start your negotiations based on the average true dealer cost of the car.
4. Do not be afraid to turn your back and walk away if you are not content with the offer. Always remember that there are other car dealers that are more than willing to present to you a better offer.