Buying a new car is a major purchase whether it is a sports car for yourself, or a minivan for the family. Do your homework before you visit the dealership, and you will be ahead of the game.
Before you visit the dealership, visit a reputable online source such as AutoComparison -Autocomparison.com for an online quote. These online quotes will tell you the Manufacturer’s Suggested Retail Price (MSRP) and a fair retail price. With an MSRP, you can negotiate with the dealer. Make sure you price the vehicle you are shopping for with every option desired.
With your AutoComparison quote in hand, call each dealer in the area and ask what price the car you are shopping for is selling for. You can also visit each dealership’s company web page and print out any you are interested in before visiting. Some dealerships even offer “internet discounts” and will come down a little lower in price if you shop online first. This way you can get an idea of car comparisons in your area.
3. Look for new car deals
You can search the web for new car deals such as rebates, new car incentives, and sales. Usually the manufacturer has many special programs and offers. Try searching the web for terms such as “new car rebates for Toyota”. Print out any incentives that may be relevant to you. Often times, multiple incentives can be used together, making the purchase price drop even lower. Be careful with the sticker price on the car. Many times the price already includes these incentives. Make sure you ask.
If you have a vehicle you will be trading in, visit kbb.com for a fair trade value. This will give you an idea of what your trade is worth before you visit the dealer. Make sure you print out the information and bring it in with you.
5. Pre-Approved financing
It will make the entire new car purchase process easier, if you obtain pre-approved financing. Banks and credit unions often offer special deals on new vehicles. You can also obtain pre-approval on most manufacturer websites for the vehicle you are purchasing. This will make the process easier on you and the dealership by knowing what you are both working with in regards to money.
6. Visit the first dealership
You should now be ready to make that first visit to the dealership. With all of your paperwork in hand, your homework should pay off. If you arrive with a well researched deal, the salesman will see you have already done your research, and there will be little room for negotiation on their part.
7. Shop around
Once the dealer gives you a price, visit at least one or two other dealerships. Bring your quote from your first dealership visit. This will give you some room for further negotiation. The dealership wants your sale and may lower their price to beat the competition.
8. Weigh the pros and cons
Go home and weigh the pros and cons presented to you from each dealership you have visited. List out the incentives or rebates you may qualify for. Weigh each dealership’s trade-in value given. Compare cars and prices on quotes given.
9. Make a Decision
Once you have compared your quotes from each dealership, you should be ready to make that final new car purchase decision. Go over your paperwork one final time, compare cars and prices with your final decision. If you would like to try and negotiate further, make a phone call to your salesman and see what they can offer.
10. Visit the dealership for purchase
Once the dealership makes an offer you can accept, go back to the dealer for that final purchase. Buy your new car with the confidence that you did get the very best deal.