Negotiating with a Car Salesman
Most people will tell you that the best time of year to buy a car is before you actually need one. Lots of us don’t have the luxury to pick and choose when we need to buy a car. In many situations, a car is needed only when your current one is failing at its job. Being under pressure can end you up in a bad deal, so try not to wait until your current car has left you stranded. When you are buying a car, negotiating with a salesman can get you a better deal. Here’s some advice you might want to take with you when you head to the lot.
Do Your Research
First, know what the type of car you’re looking at is worth. For new cars, Edmunds.com and TrueCar.com are good resources. For used cars, KBB.com is generally reliable with their information. You can also figure out the trade-in value of your current car. Educate yourself, because you’ll look pretty silly if you make an offer that is totally out of the question.
Time Your Visit
It’s no secret that most people are motivated by money. For car salesman, a bonus check at the end of the month is a huge motivator to sell. If you wait to buy until it’s later in the month, it’s more likely that the car salesmen are more likely to cut a deal if it means a bonus for them. If you do go at the beginning of the month, you might get an offer that’s out of your price range. Consider following up at the end of the month to see if they’re more lenient.
Look For Sales
Looking for a sale that’s already happening is always an option. If you’ve owned the same brand of car for a decade, some automakers offer loyalty cash. On the opposite side of the spectrum, other automakers might incentivize drivers to switch to their brand with conquest cash. There are all kinds of discounts for students, military veterans, and even AAA members. Be thrifty.
Leverage Your Trade-In
It’s usually more beneficial to use your current car to offset the price of a new car at a dealership. You could sell it yourself, but doing so comes with the hassle of advertising and setting up appointments for potential buyers to view it. In most states, you’ll usually only pay sales tax on the difference between the cost of your new car and the trade in value of your own.
Shop Around
Like we said before, car salesmen are motivated by their paychecks, and each one of them has a bottom line they need to meet. It would be wise not to take the first offer you’re given. Instead, use that offer to see if there are any other dealerships out there that can beat it. You can contact dealerships through their websites instead of visiting them in person.
Don’t Be Afraid to Say No
Once you’ve chosen a vehicle, you’ll be sent to deal with financing and insurance. Here, they’ll offer you a plethora of add-ons like extended warranty, credit life insurance, disability, etc. You can say no to all of these, even if you’re under a lot of pressure. You can also try to negotiate the price of the vehicle warranty, if that’s what you want.
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