Besides
buying a home, buying a new car is the second most expensive
investment that most people make in their lives. If you are planning
to buy a new car then following the below mentioned tips given by
Jerry Robbins, an advocate, who will also negotiate with a dealer for
a fee and you can save a considerable amount of money.
Zero
in what you need
Know
which car you want on the basis of its capability, fuel economy,
price range, and space and passenger capacity. Additionally, the
looks, reliability, amenities and performance should also be
considered. Prepare a shirt list of vehicle of your choice after
researching on the internet, test drive or rent them after which
narrow down your list to the most appealing cars.
Zero
in further
After
selecting the vehicle, look for options and features which you want
to be in your car. Visit the website of the brand and go to the
‘build and price’ section. Add in your required features and get
the quote. Also visit third-party websites like MSN Autos to check
the price. Stick on what you want.
Obtain
price quotes
After
deciding upon the vehicle and model, email local dealers for
obtaining quotes. Also add in a timeline within your buying process
to show that you are a genuine buyer. ‘Get a quote’ links of
different websites like MSN Autos is a great tool for obtaining
quotes. TrueCar.com is a good pricing website.
Take
the best price to your selected dealer
Provide
documented evidence with your dealer for the best price offered.
Probably, they will adjust accordingly. Moreover, if the dealer is in
your local area, he will be more willing to business with you as
there will not arise any high service issues. Make timing your
advantage. Go to the dealer at the end of the month when the staff is
attempting to meet sales goal.
Avoid
being emotional
Leave
your emotions at home. Perhaps your older car might be better than
the new one. Probably you would want to show-off in front of your
friends. The entire process is an emotional drainer and stay away
from this situation.
Research
incentives
Many
auto websites are also offering incentives such as cash back policies
or a special rate of financing or both in addition to obtaining
invoice price. College grads, military personnel, first-time buyers
or owners of competitive brand might be provided with additional
incentives. Your aim is to save money.
Focus
on the invoice
Invoice
price is the price which the dealer pays to the factory. However,
other considerations such as factory spiffs and holdbacks will lower
the invoice price. Try to buy the car at its invoice price.
Avoid
shopping on monthly payments
Many
people shop on monthly payments rather than on the final price.
Moreover, the high installments will be covered by longer term of
financing. This will eventually increase the price of the car.
Buy
or lease?
Dealers
usually talk about buying cars on lease as it will reduce monthly
payments. Although this is true, however, you will be subject to
extra charges and with no equity. If you have an accountant talk to
him about the leasing of a car and if you do not have one, forget
leasing your car.
Stay
ready to walk out
If,
during negotiation does not align with your requirements, you can
easily walk away and leave the deal.
Pay
only these charges
After
the price has been settled, you will have to pay the price of the
car, the destination charges, documentation fees, title, tax expenses
as well as license plate charges. Do not pay for advertising or any
other similar costs.
Prepare
the trade-in
Before
going to the dealer, search for the trade-in value of your car on MSN
Autos or KBB.com. Autotrader.com and Craigslist are also good
websites. Ensure that the car is detailed as $100 in detailing can
mean $200 in value.
Keep
trade-in separate
Be
vigilant in the buying process and keep the trade-in separate. First
negotiate the sales price and then the trade-in value along with
adding in the sales tax price.
Consider
financing
Prior
to visiting the dealer, obtain a quote for car financing from your
bank. Search on the web as well and compare them all. Select the best
offer. Also talk about the finance rate and get it adjusted.
The
process is not over yet
Ask
for upselling of several items. In case you want extended warranty go
for factory warranty rather than from the third-party.
Article Credit: http://editorial.autos.msn.com/15-tips-to-get-the-best-deal-on-a-new-car#1
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