How to Get the Best Price on a New Vehicle

Getting the best price on a new car will all depend on your negotiating power. Car dealers will always set a higher price in order to give themselves a margin to fall back on when they lower it for you. The most important thing is that you don’t carry emotions to the showroom. Even if you desperately want that one car you have fallen in love with, you shouldn’t appear too eager in front of the salesperson.

Instructions

  • 1

    Prepare your budget

    It is ideal that you have sorted out your financial health before pursuing the idea of buying a new car. Knowing the amount you can spend ensures that you will not go over the board to strike a deal.  This further allows you to research freely, and look at all options which matches your range. Going directly to a dealer will have you in a tangle as you may end up liking a car which is out of your league. The salesmen may further entice you to spend more, or present an offer you may not be able to refuse.

  • 2

    Cash

    Doing cash transaction is the most suitable way to get the best price on your new car. While this may be difficult for most, but car financing is another way for dealers to make money in the form of interest rates, and unfavourable terms which ultimately squeezes more money out of your pocket. However, if you are prepared to pay all necessary payments upfront, it will guarantee safety for both parties, where dealers also end up earning healthy profits.

  • 3

    Shop Around

    However, if you are not a cash buyer, then ideally it is important that you shop around. The easiest tool will be the internet which links you with the manufacturer’s website, where you can know the worth of a car by choosing certain specifics. The quotes will be provided to you and then you can verify the information in your area by contacting dealers who are selling that vehicle. Ideally you would want to select the car after inspection, but in order to avoid getting trapped, contact the dealer through the phone. Once you have gathered multiple quotes, shop around and bargain for low prices.

  • 4

    Get multiple dealers in the loop

    Having chosen the car of your choice, it is now time to get in touch with multiple dealers. Exchange the prices and ask each dealer to beat the lowest quoted price. With two or more dealers competing with each other, you may end up getting the car at the best price.

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