Soon, it might be the right time for you to buy your new car and the way in which you act in that particular case may be a determining factor in the price that you’ll get to pay for it. Keep in mind that some of these methods may require you to invest some time and effort, which is why waiting for the last possible minute usually isn’t a good idea. That being said, here are five tips for getting the best deal for your new car.
1. Decide what you need in a car
The first problem that you might walk straight into is buying a car that doesn’t match your needs just because you’ve always wanted to own such a vehicle. You see, car dealers are great at reading people and they might just be able to figure out that, with enough persuasion, they can make you buy a more expensive car on an impulse. Still, if you manage to determine what kind of car you need and rationalize this decision in terms of size, trunk space, performance and fuel economy, you might just be able to resist these attempts.
2. Do your research
The next thing you should do is conduct brief online research on the car model that you intend to buy prior to the start of your negotiation. For instance, if you’re interested in buying a Mazda, you should look for a platform that specializes in car pricing and see what you’re dealing with. Of course, it’s irrational to expect that you’ll encounter the same price in every dealership but getting an idea of what you’re up against is a smart move. Memorizing the source of this information can also be used as leverage during the negotiation.
3. Negotiate separately for trade in
If you want to trade in your old car in order to get a better deal, you need to negotiate the value of your old car and the car that you intend to buy separately. This is a method that a lot of dealers will try to exploit, yet, it’s also something that could give you a slight edge. Also, before you head there, inquire about the best possible price that you could get for your car and gather all the necessary documentation. As we’ve previously stated, this gives you a substantial amount of leverage.
4. Be ready to walk
A car dealer is a professional salesperson and, as such, they have a knack for sensing desperation. This will give them a chance to talk to you from a position of power and feel like they have the higher ground. Keep in mind that, in reality, this is never the case. You see, you always have other options, other dealerships and even an option of selling your car online. Therefore, be ready to walk away from the deal that you’re not pleased with. Sometimes, you don’t even have to back out of a deal, all that it takes is for you to convince the other party that you’ll do it.
5. Don’t go there alone
Ideally, you would know or be willing to pay a mechanic to go to a dealership with you. There, they could give their honest opinion about downsides of the vehicle, from a technical standpoint, which could, potentially, convince a dealer to lower the price. Even without a professional mechanic, you could use a wing person. You see, you could go there with a friend or significant other, even a family member, and have them act as if they’re not interested in the vehicle. In order to avoid a scenario where the dealer in question sees through your bluff, you should ask them to name all the specifics that they don’t like.
In the end, it’s important that you don’t get unrealistic expectations about this deal. After all, there’s only so much money you can save on this deal. There’s nothing that can lead you to a disappointment faster than unrealistic expectations. Still, by learning a thing or two about this topic you’ll not only be able to get a better deal but also become a better negotiator. This is a skill that you could use in various aspects of your life.