Car shoppers can find some fantastic offers this month on vehicles ranging from sedans to SUVs – with some models even selling below their original sticker prices! It is wise to prearrange financing and understand your value so as to secure the best possible deal from a dealership. Taking time to understand what the deal entails will help ensure it will go as expected.
1. Know Your Value
Knowing the value of your current car and what similar vehicles are fetching from private sellers can give you an advantage when negotiating trade-in offers from dealerships. Knowing your options allows you to avoid being taken advantage of at the dealer.
Many dealers make money from selling add-ons such as tire protection plans, anti-theft protection, and infotainment upgrades that drive up the cost of cars. It’s wise to decline such extras that can dramatically increase monthly payments.
Negotiate the “out-the-door” price that includes sales tax, registration fees and dealer fees rather than just the vehicle sticker or MSRP price. Secure outside financing before visiting a dealer lot as this will save you both time and money by keeping negotiations focused on your budget. Furthermore, setting a monthly payment limit before entering the showroom can help prevent sales tactics such as “the numbers game.”
When it comes to finding the best auto sales deal, the key to successful negotiations lies in keeping in mind the total out-the-door price, including sales tax, registration, title fees and dealer fees – not only should these costs be known prior to entering a dealership but they should be comparable with quotes you’ve gotten elsewhere.
Behaving emotionally responsibly during a vehicle purchase process can also help keep things under control. Allowing emotions to play a part can make it easier for salespeople to take advantage of you – particularly if you already secured outside financing through other sources such as an independent GSM or GM who may often get you better rates than those available through dealership financing itself.
4. Know When to Walk Away
When dealing with an uncooperative dealer, remember that you can walk away at any time if they become too frustrating. Many car buyers fail to do this out of fear that leaving would embarrass or alienate the salesperson they’ve grown friendly with; this is an error; you always have the ability to depart without fear and should do it politely.
Instead of abruptly leaving or leaving through an obscure side door, tell the salesperson you are open to further negotiations and provide them with your contact info. They might need another sale to meet their goal or free up space on their lot, and may reach out if they can accept your price point.
Avoid falling for the “best deal” ploy by conducting research on vehicles and their values before visiting dealerships, and securing financing outside. This will enable you to find one that meets both your needs and budget – using it as your compass throughout car shopping process.