Whether you are a first time car buyer, or an experienced veteran who has purchased vehicles in the past, it’s important to know how to negotiate the price of a new car.
Many consumers believe that they are obligated to accept the purchase price that is placed on a vehicle, while others view negotiations with a dealer as being confrontational. Both of these claims are not true, as this type of bargaining is a large component of the car buying process. In fact, it is during this portion of the buying process where you can determine the quality of the deal you receive on a new automobile. Therefore, it’s very important that you know how to properly negotiate the final purchase price of a brand new vehicle, before placing your final signatures on any documents.
Gather Multiple Quotes from Local Dealerships
An important point that every car buyer should know, is that negotiating for a lower priced vehicle cannot be done if you are unaware of what other dealerships are offering. Just like with most things in life, knowledge can be seen as power; and the more you know about rebates, auto financing incentives, and other deals that are being offered, the greater your chances are of acquiring a vehicle at an affordable price. That is why we strongly suggest that you take the time to gather quotes on new cars from nearby dealers, and compare them to one another.
Now how should you go about doing this? You can easily accomplish this step without ever stepping foot onto a car lot by simply contacting the dealerships by phone and requesting a quote. During this process you only want to know what the dealer is charging on the “out-the-door price”, which should inform you of all the hidden fees that may be associated with your final purchase price.
Once you have gathered enough information from the dealers you want to work with, this can then be used to aid you in getting the best new car deal from the seller. By doing this you are able to take advantage of a dealership’s competitiveness, as well as their pressing need to convert every sale that comes their way. However, scouting for car quotes is not the only tool that must be utilized when negotiating for a new automobile.
The 5 Most Important Points when Negotiating a New Car’s Price
There are reasons why you may be unable to capitalize on bargaining for better prices on a newer car, and most are a result of not knowing how to conduct yourself. Whether you believe it or not, there is a set code of conduct that you should follow to make sure that the negotiation process goes the positive route. This code of conduct typically includes:
- Not Being Emotional
- Dealers are known to play off the emotions of buyers, which is why you must keep your feelings in check. Not getting worked up or disappointed over a specific vehicle will help you to be better prepared to make the best decision on a car. Otherwise, you run the risk of allowing your emotions to handicap your decision making process.
- Be Respectful to the Seller
- A dealership can be a hostile environment for anyone who visits one. Often times a seller can be more focused on making a profit, rather than offering you quality service. This can irritate and frustrate anyone, but you always want to remain calm and treat the staff with proper respect during the negotiation process.
- Be Prepared to Walk Away
- The decision to walk away always belongs to the buyer. If a dealer is unable to offer you the deal you’re looking for, or the tension becomes too much to bear, simply leave the lot. Often times this can work in your favor as another staff member may prove to be more helpful or you could receive better treatment on a return visit.
- Visit Dealerships on Off Hours
- Buying a car is a time consuming process, and as a result many people try to visit their local auto finance dealers at night or on the weekend. These are usually the busiest times, and this can make negotiations more difficult. Therefore, try visiting in the middle of the day or early in the morning to have the best chance at getting a great deal.
- Focus Negotiations on the Purchase Price
- Try to focus on the final purchase price only and refrain from discussing monthly payments, your trade-in vehicle, rebates, auto financing incentives and/or dealer fees.
If you’re able to follow these five simple points you can effectively simplify the negotiation process with any local dealer, while helping you acquire a great new car as well.
As We See It
Here at Auto Credit Express we understand that one component of negotiating for a new car will be in regards to finalizing a car loan agreement. For some people this can be easily addressed, but things can be complex for those with credit problems. Fortunately, our loan service can be used as a simple solution for anyone who needs to finance a new or used car with a bad credit score from a local dealer.
Our vehicle loan network provides people from various parts of North America with a great way to get auto financing with any credit situation. We make a point to offer our consumers the largest selection of established dealerships who offer loan approval to people with bad credit in a matter of minutes.
With our established network, and extensive knowledge of the car loan process with any type of credit, we are sure that we can provide you with a quality dealer that will make negotiating the price of a vehicle simple and pain-free. So take the time to apply with us and be one step closer to purchasing your ideal automobile today.