Buying a car from a dealership is stressful. You’re up against a master negotiator that wheels-and-deals hundreds of cars per year. You likely negotiate on one car every ten years—if that.
The deck is not exactly stacked in your favor.
Are you looking for ways to make the odds a little more even? Maybe you’re a nervous negotiator and are looking for tips to ease the art of haggling.
Either way, these 3 tips will guarantee you a smoother, more enjoyable new-car negotiation. Check them out before you go to the dealership.
Tip #1: Research, Research, Research
Technology has made being a knowledgeable consumer very easy.
Pick your web browser of choice and start researching. You can do all the leg-work before you ever make it to a dealership. Before you get talked into features you don’t want or need, make sure you know what you’re looking for in your next vehicle.
You can walk into a dealership with specific questions, an idea of the asking price, and a solid grasp on how much you’re willing to spend on what features.
Being a knowledgeable consumer gives you power. You won’t get taken advantage of by a salesperson. You may even get a better deal because you understand what you want and what you’re willing to spend.
Researching also helps you avoid dealerships with bad histories. Check out reviews and be on the watch for places with a trend of unhappy customers. Better yet, look for a dealership with a history of happy customers—such as this dealership.
Tip #2: Get Pre-Approved Financing
Go to your local credit union, bank, or another lender. Find out what you qualify for. You should know your credit score and have an idea of your monthly budget. After all, you’ll now have a car payment to attend to.
Talk to a loan officer and find out what kind of deal the bank is willing to give you.
Then, go talk to the dealership. The dealership wants you to go through them for financing. Having a pre-approved loan from another institution gives you bargaining power.
You’ll get a better deal if you know you have a fallback plan. You won’t get as easily swayed by fast talking and scary-sounding numbers.
Tip #3: Be Prepared to Walk
This is not the only dealership in town. This is not the only new car that will work for you. Be prepared to walk away from a bad deal.
Walking away will guarantee you get the right car for your needs. Like the first two tips, this is because you have leverage. You are not subject to any dealership’s prices.
Go shop somewhere else. I bet you’ll find a better deal down the road.
Buying a Car From a Dealership? You Got This!
Don’t be intimidated by buying a car from a dealership! With these 3 tips in mind, you’re sure to find the car of your dreams within your budget.
The more negotiating leverage you have, the more the deck is stacked in your favor.
For more information on the negotiating process, and how a trade-in may help, check out this guide to getting a great deal on a car!