It is hard to ignore the inevitable. If you are buying a new car then you will have to negotiate the price with the car salesman. The same rule applies to leasing a new car. No matter what type of car that you want to buy, you will need to learn the art of negotiating the price in order to save thousands on a new car.
Negotiating with a car salesman is not an easy task. Remember that the people employed at the dealership--car salesmen, sales managers, etc.--were all trained in the art of selling. If you are not careful, you may not realize that you are already paying too much for your new vehicle.
Not all people are the same, though. Honest car dealerships still exist, and we will help you talk your way towards negotiating a modest price.
The Art of Sealing the Deal: How to Negotiate the Price of a New Car
1. Get an online quote before you buy. This will give you the information to leverage the negotiations in your favor. If you approach the car dealer with nothing to show for, then you will be given an onslaught of confusing information. If you request a free online quote, you will know the dealer invoice and the true dealer cost, the two things that you need in order to save thousands on a new car.
2. Talk about the final price, before settling for additional options. Before you allow the car dealer to 'sweet talk' their way in offering you additional vehicle options, you should settle the base price of the car. New vehicles come in different trims, and they are all negotiable. Use your online quote to start negotiating the price of the car. If you feel that the dealer is trying to push the deal towards their favor, you can always exit the premises and walk away. Remember: you should INSIST on the final selling price first, before adding vehicle options.
Tip: Vehicle options are also negotiable.
3. Now that you have settled the final selling price, it is time to talk about financing. Experts strongly advise to request a car loan from your bank or credit union, instead of financing the car at the dealership. However, it never hurts to check out the financing packages offered by car dealerships. Your free online quote will not only show you the true dealer cost, but this will also give you the opportunity to view all the current financing offers in your zip code.
More tips coming in the next post. If you want to buy a new car, you should arm yourself with all the information that you need in order negotiate an ideal price--one that that won't cost you an arm and a leg.