5 Ways To Get a Better Deal When Buying a Car
Posted August 27, 2014 by Ken Kupchik
Everyone loves the feeling of taking home a new or used car. But most people hate the act of having to look around for the right car, and then spending time in the uncomfortable process of negotiating with a salesperson to get the right price. While you probably won't be able to get a brand new Porsche for the price of a Honda Civic, there are ways to get a better deal when buying a car. Here are some tips:
1) Buy at the right time - To save some money on your next car purchase, it's important to understand when the best time to buy a car actually is. If you're looking for a great deal on a new car, you will want to shop for it when the newest model year arrives and replaces the existing cars on the lot. This will drive down the prices of the "last year's" model, helping you get a better deal. This is usually enhanced if there are major changes to the design of the car, as the older version appears outdated and obsolete. While it's not a rule, your best bet is to shop in the late fall and around the end of the year, when the newest models are set to arrive at the dealerships.
2) Research everything - The internet has definitely leveled the playing field when it comes to being informed. Websites like AutoTrader.com, TrueCar.com, and the like allow you to find out extensive information about vehicle pricing, specifications, and where you can find the best deal. We also feature an extensive vehicle specification section where you can learn about the reliability and features of thousands of different car models. Additionally, you can find reviews of actual dealerships which will allow you to weed out the ones with a questionable reputation, and deal only with dealerships that are deemed trustworthy.
3) Buy a car that isn't a great seller- This approach won't help you if you really have your heart set on a particular car, but will absolutely help save money if you're flexible in your choices. Dealerships have a hard time getting rid of cars that are generally unpopular and will be very willing to give you a break on the price just to get it off the lot. It's important to note that just because a car isn't "sexy" or popular, it doesn't mean that it's a bad car to buy. Some cars are slow-sellers because they look boring, or because, for whatever reason, they just never caught on. There are obviously some cars that don't sell well for a reason, so it's important that you don't buy a poorly made car just because it's cheaper. Make sure to follow step 2 and do your research.
4) Negotiate the price of the car first - When you've decided that you want to buy a specific car, make sure to come to an agreement on the price of the car first, before bringing up the other aspects of the deal such as financing, or trade-ins. The dealer will push you to discuss these things up front, but try avoiding them and focusing on the car, and the exact price of the car. After you've agreed on a price, you can come to an agreement on the terms of financing, trade-ins, and warranties. Keeping everything separate will allow you to have more control over the aspects of the transaction, and make things more straightforward, rather than coming up with a complicated deal with lots of moving parts that could jack up your bottom line price when everything else is factored in.
5) Treat the salesperson with respect - Most people are distrustful of care salespeople, and maybe there's good reason for it. However, just like mechanics, not all salespeople are unethical and looking to get over on you. Most salespeople are just hard-working people looking to make a living and provide for their families, so treating them with respect will go a long way to helping you get what you want. The old expression: "You can catch more flies with honey than you do with vinegar" applies to most transactions, including buying a car. Car salespeople are used to being treated according to the profession's reputation, so if someone is willing to go out of their way and show them respect, they may go the extra mile and get you a better deal.