The process of purchasing a car is a daunting one for most people. Very few people look forward to going to a car dealership and spending hours haggling with the car salesman, until finally reaching a deal that is anything but satisfactory. It doesn’t have to be that way. These tips will help ensure that your next car purchase is your best deal yet.
Do Your Research
In this day and age, there is no reason anyone should walk into a car dealership without already knowing exactly what the wholesale cost of the car they want to purchase is, what options they want, and how much they plan to spend. Websites like edmunds.com and cars.com can help you research not only what type of vehicle you want, but how much you should pay for your car after all options have been added on. Run a quote and then print out the results and bring them with you when you go to purchase your car. Armed with information you are already sending a message to the car salesman that you are not an easy mark and that will make you less likely to be taken advantage of.
Don’t get Emotionally Invested
There is nothing more that a car salesman likes to do than get you emotionally attached to the car that you want to purchase. He will ask you to pick out a color in an effort to get you to feel personally connected to the car. Don’t fall for this trap, don’t worry about trivial things such as color and roof racks until you have already agreed on a price. Once you have an emotional investment in the purchase, all of your reasoning goes out the window. Instead stay focused and don’t feel that the car is yours before you have signed the purchase agreement. Negotiate with your brain not your heart, otherwise you are in for a costly surprise.
Don’t Negotiate Monthly Payments
Car salesmen know that people are more concerned about what their monthly payment will be than anything else when it comes to buying a car. However, negotiating your monthly payment before you have decided on the price you are going to pay for the car is a costly mistake. Always negotiate the actual price of the car, otherwise you might end up with a low monthly payment but an extended loan term. The 72-month loan is a good way to give someone a low payment but a high purchase price. Always negotiate your purchase price first, the monthly payment will fall in line after that.
Don’t Mention Your Trade Upfront
When you are negotiating your car deal the key is to stay focused and not get distracted. If you are trading in your existing car this can be a huge complicating factor that can throw your entire deal off course. The dealer can give you what seems like a good deal on your trade while not really giving you much off the price of the car. Keep it simple. Negotiate the final price for your car and then mention your trade in. Whatever you get for your existing car will have to come off of your bottom line price. This way you make sure that your trade is really helping you to get a lower price than you would have gotten without it.
Negotiating a great car deal isn’t difficult. Most people let their fear of getting taken advantage of distract them from negotiating wisely. By following the pointers outlined here you can ensure that your next car purchase is your best deal yet.