Negotiating

Key Strategies

Before even setting foot in a dealership...
Here are some things you simply must do before visiting the showroom. It always pays to become a well-versed consumer and gain as much education as possible in order to achieve the best possible rates. Sometimes, it’s just a matter of asking...or knowing.

• Know what you want to buy
  The Internet is a very handy tool, so perform your sleuth work online. Here, you can find information that will help you narrow down and define your choices.
• Research comparative pricing
  By gathering dealer invoice prices, and comparing them to new car quotes, you can see exactly which models fit into your particular budget. When you walk into a dealer armed with quotes from other dealers, and information gained online, you can remain confident that you will walk out with the best price offered on the car of your dreams.
• Research the dealership
  Read all the dealer reviews that you can to see what you’re up against, not only before you buy a car, but the kind of attention and service you will receive after the fact.
• What to do with your old car
  Are you going to trade-in or sell? Trading-in can save you time and hassle, but knowing the market price for your trade will help at the dealership. Selling your car on your own can be a timely ordeal, but can also save (or make) you money. Figure out which situation works best for you before buying your new car.
• Financing
  Acquire competing finance quotes from sources outside the dealership; they do not have to be the ones that can provide that service to you. Contact a lending group, and you will know your approved interest rate before even going to the dealer. Because the dealers make money for arranging loans, they can adjust the buy rate. If you come well-equipped with this knowledge, you can use this figure for negotiation purposes.
• Know when to go
  Don’t wait until your car dies to visit the dealership. Start your research well in advance as not to make any rash decisions. It takes, on the average, 2 months to get your degree from Are-You-Buying-A-Car-University, so be prepared!
• Know your credit score
  There are many online resources where you can have this information provided to you. If your credit score is below 680, you can seek out a poor credit auto loan resource, and they will most likely be able to help – even in cases of previous bankruptcy, bad credit or tax liens. As long as your credit score is 525 or above, your chances are good.
• Find rebates and incentives
  Seek out all your resources! Keep a sharp eye out on newspapers, television commercials, radio advertisements and the Internet for special pricing. Ask the salesman at the dealership. Ask his boss. Take a written guarantee or advertisement with you to ensure validity upon purchase.