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Buying and Selling Cars

How to Get the Best Deal on a New Car at a Dealership

People hate haggling over the price of a car. They hate it so much that some surveys have shown that a large percentage of people would rather do their taxes, sit in the middle seat on an airplane, or spend an afternoon at the DMV as opposed to negotiating with a car salesman.

Do you feel their pain? If so, you should know that going through the negotiation process when buying a car doesn’t have to be stressful. You just need to learn how to get the best deal on a new car at a dealership.

Would you like to find out how it’s done? Here are several tips that will help you get the best deal possible the next time you walk onto a car dealer’s lot.

Come Up With a Car-Buying Budget From the Beginning

How much can you realistically afford to spend on a new car at this time? That’s a question you’re going to want to ask yourself before you begin learning about how to get the best deal on a new car at a dealership.

Your budget will help determine everything from which car you try to buy to how hard you fight at the negotiating table to get the price of that car down. Take a look at your financial situation and crunch the numbers to see what your car-buying budget should be at this time.

Decide Which Car You Want to Buy Before Visiting a Dealership

Years ago, shopping for a car literally meant heading down to a dealership and browsing around on their lot to see which cars stood out. It often took people hours to drive from one dealership to the next to find a car that they really liked.

You don’t have to do this anymore. While you can still shop for cars in person if you want, it’s so much more convenient to do it online these days.

Just about every car dealership has a website set up that showcases the cars they have in stock. This dealership is a great example of that.

Poke around on the dealer websites in your area to see which cars stand out the most to you. Use your predetermined budget to decide which options will work best based on your finances.

This will put you in a more powerful position when you go to visit a dealership for the first time. You won’t have to worry about a salesman trying to “sell” you on a particular car on their lot even though it might not fit your needs or be listed at a price that you feel comfortable with.

Find Out Everything You Can About Your Preferred Car

After you’ve decided which car you want to buy, learn everything you can about it. This includes taking a closer look at all the features located in it.

But it also includes learning about:

  • How long that it usually lasts
  • What kind of resale value that it is
  • Which common problems often pop up with it and require maintenance and repairs

The more you know about a car, the more ammo you’ll have at the negotiating table. When you’re able to show a salesman that you understand the ins and outs of a car, they’ll respect you more and take your negotiations more seriously.

Pick the Best Time to Shop for a Car at a Dealership

Once you have a car-buying budget in place and know which car you want, you’ll almost be ready to head down to a dealership that has the car in stock to try and buy it. But don’t go to do it at just any old time.

If you can afford to wait a little while, it’s best to shop for a car either at the end of a month, at the end of a quarter, or, best of all, at the end of a year. Car dealers are usually very motivated to move as many cars as they can at these times to meet quotas.

Walk into a dealership at one of these times and let a car salesman know which car you’re interested in buying. Take it for a test drive and then grab a seat at the negotiating table.

Start Negotiating as Close to the Invoice Price of a Car as You Can

The physical act of negotiating the price of a car is the thing that scares people the most. But it doesn’t have to be scary! As long as you’ve done your homework, you should be in a position of power when you’re negotiating with a car salesman.

You don’t want to be disrespectful in any way when you’re negotiating with a car salesman. But you do want to make fair and firm offers to them throughout the process. And if you’re given the opportunity to start the negotiating process, begin by throwing out a price that’s as close to the invoice price of a car as you can get it.

A warning: Your car salesman is more than likely not going to accept your initial offer. It won’t bring in the kind of profit that they’re looking for, which is why they’ll often counter with a much higher offer.

Your goal from there will be to slowly inch your way up a few hundred dollars at a time until you and the car salesman are in the same ballpark. From there, you should be able to strike a deal that fits within your budget and makes both sides happy.

Prepare to Walk Away From the Negotiating Table If You Have to

There is a chance that you and a car salesman might not be able to reach a deal. It happens!

If you’re not comfortable with the final price that a car salesman throws out, be prepared to get up and walk out if you have to. They could very well call you back later with a better offer than might be more to your liking.

You might also need to try buying the car that you want from a different dealership. You can even try to pit dealerships against one another to get the best deal possible on a new car.

Prevent Stress by Knowing How to Get the Best Deal on a New Car at a Dealership

Are you going to buy a new car sometime soon? Learn how to get the best deal on a new car at a dealership before you do it.

Most people struggle when it comes to negotiating the price of a car simply because they don’t prepare for it. As long as you follow some of the tips found here, you should be able to make out much better when you’re trying to drive down the price of a new car.

Take a look at our blog for more tips on buying a new car for the right price.