Remember that sleazeball at your local car dealership? He would always try to weasel his way into your wallet, acting like he was doing YOU the favor. You’re the one giving the car dealership your money so it is best you get the most bang for your buck. Here are some tips for you to keep in mind the next time you go shopping for a new car.
1. Remember to negotiate. Never, ever, EVER accept the first price thrown at you. No doubt it will be something overly ridiculous. You will want to negotiate until you cannot negotiate any longer. Of course, not everyone are naturally born to negotiate with car dealers. Offer a price or two and do not give in just yet. Make sure you have the name of the guy you negotiated with as you will probably need it later.
2. After negotiating, go home and call various car dealerships. Ask around about the same car. Tell the dealership you got an offer previously from another lot and tell the person you are speaking with what it was. Ask if they are willing to offer lower. Chances are they will. Call back the previous lot and ask back for the person whom you talked to about the original car. Tell them about the new offer and see if they’ll go even lower for you.
If you so do desire, you can keep calling various dealerships attempting to get a lower price. Keep calling until you get a price that you are satisfied with.
3. Once you are finished getting the best price possible you are ready to buy your new car… or finance it. The BEST way to buy a new car at the lowest price possible is to pay with CASH. Of course, for most of it, this is near impossible, so you’ll want to put a down payment on your new car if unable to pay with cash. The more money you have saved up to put down on your brand new car, the lower your monthly payments will be. So it’s a good idea if you plan ahead and save up several thousand dollars for a down payment for a car before you begin looking and negotiating prices.
4. When you finance, remember that the car dealership is trying to make even more of a profit off of you. Even if you pay with cash there is a high possibility that the dealership will try to talk you into making payments – so they they profit more. Do not give in.
If you are financing most contracts are for 60 months. If you are able, paying it off early is a great thing – it means you’ll pay less interest which is less money paid to the dealership in the long run.