So, you’ve finally decided to trade in your car for a newer model or maybe this is your first time buying a new car on your own, whatever the reason, it is always best to be prepared for what you may encounter when dealing with a New Cars Salesman. Here are a few tips to make sure you don’t get caught up in the hustle of buying a new car.
1) Research, Research, Research
The first thing you want to do before leaving your house is to research. Try to narrow the car you want down to one model if possible and make sure you know what the available options are.
Check out MSRP numbers, which is the price the automaker wants the car sold for. Read up on all the reviews you can find on the dealership you want to buy from, this will help you decide if they are even worth going to. You want to educate yourself as much as possible, and know pretty much what you want beforehand.
As part of your research, you could rent the car model you are considering for a day. Renting gives you the opportunity to evaluate things at your own pace without a salesperson pitching at you the whole time.
Going in knowing exactly what you are looking for will always pay off deflecting any attempts at influencing your decision or up-selling.
2) Know Your Financial Situation
You want to get the best deal for your money without having to spend money that you don’t have. By understanding your financial situation properly ahead of time, let’s you know exactly how much you plan to put down and what you can expect for your trade in.
Find out what financing options are available, you can also secure financing in advance through your local bank or credit union. Dealerships make a lot of their profit on financing deals, but you NEVER want to let the salesman know you already have financing, this will change the way they deal with you.
3) Check the Invoice
Once you’ve found the car of your choice ask to see the invoice. This gives you all kinds of information about the car, but most importantly, how much the dealership paid for it. You want to keep that figure in mind when you start to negotiate the price you want to pay. Knowing that number can help you lead the negotiations in lowering the overall cost.
4) Don’t Be Afraid to Say “NO”
You never want to let a salesman ‘strong-arm’ or sweet talk you into a car or a price that you are just not comfortable with. This is a big investment and you want to make sure that it is the right one for you. You have plenty of options when it comes to purchasing a car and you always have the power to say “NO”.
Don’t let the dealership fool you into feeling that you need to rush into your decision or that you can only deal with them. Car buying is an important decision and if any salesman is difficult with you, simply walk away.
5) Knowing What Time is Best
“There are several factors that help clients get better deals when buying a new car. Cars are sold by emotional beings, so regardless of what you hear, car salesmen are people to. Although there are certain margins that must be met in terms of profit and loss, coming in at just the right time can assure you a fair deal,” says Mercedes Benz Sales Consultant, Bobby Vance of Dallas, TX.
“Time of year is the most favorable for the consumer in every aspect. No dealer wants to go into a new year with all of there last year inventory. So, the cars must go, but here is the catch, they never wait until the end of the year. They start pricing aggressively towards late September early October. So this is when you start your research.”
Car buying may not be the most exciting thing on your to do list but it can be easy if you educate yourself properly and have a clear head as to what YOU want going in, no one will be able to shake you.
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