Are you going to buy a brand new car soon? If so, you’ve probably got some idea of how much your new vehicle is going to cost. Most new car buyers assume that it’s not possible to negotiate on the price at the time of purchase. I’ll let you in on a little secret: there is always room for negotiation when buying brand new vehicles!
The only trouble is, many people aren’t aware of the tactics they should use when haggling on the price. They also don’t know what sales tactics dealers might use on them! Before you hand over your hard-earned cash, follow this guide to become a savvy buyer. Here is what you need to know:
Do plenty of research before visiting car dealers
It’s crucial that you know what it is you want to buy. It’s equally essential that you know how much to expect to pay for your new vehicle. The only way you can be sure on both of those points is to do some thorough research.
Thankfully, the Internet is your friend. Spending some time on the Web will help you find out about offers from local car dealers and even free manufacturer options. After all; the last thing you want to do today is pay more than you should!
It’s also important that you stick to one make and model of vehicle. It’s all too easy to get persuaded into buying a different model. Usually because it’s cheaper, or there’s a better offer getting touted by the salespeople at the dealership. The motto of the day is to “stick to your guns”!
Don’t talk about payment until a deal gets reached
Car salespeople will usually make an extra commission if they can sell you a car finance product like hire purchase or a lease, for example. Early on in the negotiations, they will usually ask you how you want to pay. That’s so they can “upsell” finance to you at the same time, and make it look like you’re getting an amazing deal.
Now is the time to use your poker face, as it were. When negotiating on price, stick to the purchase price of the car. Don’t let outside factors like finance influence your decision.
Discuss deal sweeteners
Car dealers like the Pentagon-Group might offer things like lower finance rates or even a “deposit contribution” if you want to spread the cost of your new car. Some dealers might even offer free servicing for a set period.
It’s worth finding out what offers your local dealers are providing. That way, you can use that as a negotiation tool with a dealership that doesn’t offer what you need. You’d be surprised by how much leeway dealers have when closing a deal on a new car!
Be prepared to walk away
Not all negotiations will go your way. If the person you’re talking to won’t budge, don’t feel obliged to accept a less-than-attractive offer. Just thank them for their time and walk away. Car dealers have different offers to each other. Even if one dealer says no, another one will say yes.
Should the salesperson want to avoid you buying from a competing dealership, they might stop you and have a change of heart. Yes, it’s been known to happen in the past!
Now that you know how to prepare yourself for new car negotiations, it’s time to put your new-found knowledge into action. Good luck!