The process of buying a new car can be tedious. A new car is a hefty expense and the selection of different makes and models can be overwhelming. Also, if you are looking in a dealership you are going to be confronted with a target-focussed salesperson who is ultimately going to encourage you to part with your cash.
Negotiating the current price of the car with a salesperson is recommended if you want to make sure that you get it for the best price.
Below, we have compiled a list of our top tips that will help you get the best price on a new car. Continue reading if you would like to find out more.
Do Your Research
Before you head into a car showroom it helps do your research. Ideally, you should have an idea of what model you would like as well as the color and engine size, etc. Remember that the sales staff are required to learn a lot about the different makes and models as part of their role.
If the sales staff have a clear understanding of what you want, they will then be able to point you in the direction of a better deal. Moreover, you may have a car in mind that you like but if you want it to be designed with extras such as a built-in sat-nav, you will likely need to pay more.
However, there may be another car that costs a similar amount and comes with these built-in as standard features. Some salespeople may try to encourage you to go for a car that doesn’t have the features that you want just because it costs less. If this doesn’t cater to what you are looking for, try and negotiate a discounted price on the car that you really want.
Essentially, if you are equipped with plenty of knowledge about the car that you would like you are going to be in a much better position.
Stick To Your Budget
Sometimes it can be tempting to stray away from your budget when you are faced with a vast selection of cars or a salesperson that is trying to get you to pay more in their attempts to secure a deal. Knowing and sticking to your budget is of utmost importance. Remember to account for any extras that you may like in this price.
Nowadays, many cars are purchased on finance. If you intend to buy your car on finance, again you must enter the showroom with the amount that you are happy to pay in mind. You may have other monthly expenses that you need to cover as well so you should opt for a deal that isn’t going to leave you overstretched.
When it comes to choosing the best finance package for you, there are some manufacturer deals and incentives that you can benefit from. The purpose of these deals is to make your monthly payments as low as possible.
Remember that you are not tied into anything until you sign the documentation and it is your choice how you pay for the car. Moreover, you should use these discussions as an opportunity to negotiate a lower APR.
Another important factor to note if you are considering finance is the deposit. A larger deposit is not necessarily going to result in a cheaper rate, but it can contribute to a lower mortgage term overall.
Make Sure That You Know The Price Of The Car
Do your research and make yourself aware of the official recommended price of the car. You will typically find this information online on the manufacturer’s website. The price is also likely to be listed on other car websites. You will often find that car dealerships have policies in place which state that they want to beat the price of other dealerships.
If you have seen the car going for a lower price elsewhere, when in the process of closing the deal, you may mention this to the salesperson. In doing so, it is hoped that you will benefit from a lower quote.
Take The Car Out On A Test Drive
Taking a car for a test drive allows you to get a feel for it and will help to determine whether it is right for you. When driving the car you can then draw comparisons between low and high specification models.
You may have originally had your heart set on a high specification car but after driving the lower-spec model, you may decide that it is suitable for your needs. By choosing the lower specification car, you are likely to pay less.
Whilst this may be good for some people, do not sacrifice a high specification car, if it is a model that you want and like to drive. There are other ways that you can try to cut the cost.
Do Not Invest In Any Extras
A car salesperson will usually try to get you to pay more at all stages of the deal. For example, you may be in the process of buying a car when they suggest that you get an extended warranty or extras. Unless you deem an extended warranty necessary, simply purchase the car and nothing else.
Be Polite And Calm
When talking to the salesperson make sure that you keep your cards close to your chest and do not let them know the maximum amount that you are willing to pay. Begin by telling them a lower amount than what you actually want to pay.
For some people, the car buying process can be quite stressful, however, you should try to keep calm during the process. Speak politely and positively and make sure that your tone is friendly. Again, when it comes to negotiating a deal, remain calm but be firm too.
This will show them that you are a serious buyer who is looking for the best discount. If you are not satisfied with the price that the dealer negotiates, do not be afraid to leave the dealership.