The process of buying a new (or used) car can be intimidating. Most of us are all too familiar with the stereotype of the pushy car salesman that will throw every sales trick in the book at you. Many of us have gone through the process with a car salesman just like that. The first and most important thing to remember is you have complete control over the process. With a little preparation and an awareness of some common tactics, you can confidently walk into the dealership and get yourself a discount on a car.
Best Tactics for Negotiating a Better Price on the Car
Patience and persistence are probably your most valuable assets as you start to look for your next car. Start the process by getting a good idea of your budget and financing options (if you’ll need them). Don’t wait for the dealership to get you into the “perfect” financing option after you’ve found a car you have to bring home. Instead, shop around for prequalified financing options that will fit your budget for monthly payments and terms of the loan. This is a great opportunity to pit one lender against another. Get a few offers from your existing bank or preferred creditor and look for other options in your area. By completing this process before looking for the actual car you will buy, you will be in control of the process when you arrive at the dealerships.
Once you have a prequalified financing option that meets your needs, then you will want to take a similar approach to local dealerships. Even if you are certain you want a particular car, most big cities will present you with a number of dealerships. Do not buy that new car without aggressively pursuing the best deal from all dealerships in the area. Get a written offer and then ask other dealerships to beat it and t offer you a reasonable discount on a car. This is not about being loyal or nice to a dealership or a salesman. This is about not getting ripped off and vastly overpaying when there is no reason.
The prequalified financing will also provide you the opportunity to focus on only the final purchase price of the car. Most dealerships will try to entice you into a worse purchase price by offering you a lower monthly payment. This will often mean you are going to pay a whole lot more in the end for that car.
One of the final key points to remember before walking into each dealership is to remain calm and focused on getting a deal. Keep asking if that is the best they can do without offering an exact number that would get the deal done. If you’ve already found a great deal elsewhere, feel free to say that they would need to significantly beat that price. In the end, always be prepared to walk away. You’ll be surprised how often they call you within a few days or weeks with a much better offer.
Websites to Help You Find Discounts
There’s so many great websites and apps that streamline the car buying process now that you don’t even have to leave your couch to conduct the majority of the process. There are tons of established players in the online car buying market like CarMax, AutoTrader and TrueCar… but it’s some of the new options that will help you find the best deals. To help you find the best discounts on your next car, you’ll definitely want to download these apps or setup an account on their websites.
CarGurus – https://www.cargurus.com/
CarGurus is a relatively new player on the car buying app market, but they are quickly becoming a leader. They offer some awesome features for consumers. For starters, they make it easy to find out how much your current car is worth and even allow you to sell it through the site if you want. The site and app also give some incredibly detailed breakdowns of all the deals available on just about any car you would want. You can quickly find out where the car is listed lowest and where you will be able to find the best discount. They even show you how long the car has been on the market and the pricing history, so you can jump on a car that was recently reduced or negotiate aggressively for a car that’s been sitting on the lot for months.
Wyper – https://wyper.co/
Wyper is essentially the “Tinder” of car buying. You setup the app and detail what you want for car type, price range, age, color, and more. Then, the app starts suggesting cars for you. To search, you can simply swipe right on the cars you love. For car lovers, this is just a fun app to scroll through and maybe a bit dangerous for the bank account as you get tempted by all the cool suggestions. For someone just looking to buy their next car, this is one of the quickest ways to get a bunch of suggestions that may never have crossed your mind. It’s a clean design and smooth process to find a great discount on your next car.
Used Car Search Pro by iSeeCars.com – http://www.iseecars.com/
This site has an amazing database of used cars available from tens of thousands of dealerships around the country. If you are looking for a used car, this is one of your best search options. It has an abundant selection of filters to sort through the extensive database and an impressive selection at all times. It’s pretty simple. You’ll be hard pressed to find a better place to see all the used cars available in your area.