How to Properly Negotiate with a Car Dealer
Everybody wants to have the best deal possible in everything that they purchase, more so when it comes to buying a car. Unlike your typical daily items that come with a fixed price, a car’s purchase price (especially pre-owned ones) can still be negotiated. Whether you’re haggling for a discount, free accessories or even other aspects such as the deals involved in the auto loan, knowing how to strategically negotiate with your car dealer can give you an edge. This article will lay out some tips that you can use when negotiating with a car dealer. The end goal is for you to go home with the car that you want in a price that you can afford.
Know Your Needs
Carefully consider all factors involved such as your monthly income, employment stability, transportation needs, contingency fund for unforeseen emergencies, and other financial obligations. Don’t approach any dealership without having a clear idea of the car that you want, need, and can afford.
Do Your Own Research
As with all types of purchases, it is always recommended that you do your own research. When you enter a car dealership, it would greatly help if you have a list of cars and auto financing options that you are considering. Doing so will give you an upper hand in the negotiation process and will enable the dealer to help you better.
Keep Your Eyes on the Price
If you are on a tight budget, apply for a pre-approved loan before approaching any car dealership. A pre-approved loan will give you a set budget which will help you identify the type of cars that you can afford to pay off. Commit to stick to your budget no matter what. Car dealers will attempt to talk you into buying more expensive cars and unnecessary add-ons because it’s where they get their commissions from.
Don’t Let Emotions Get the Best of You
Buying a car is an important financial decision that can put an emotional toll on you. Negotiating a car’s purchase price can be an exhausting process but, regardless of how you feel, choose to be nice. A dealer would most likely give in to someone who is too nice to refuse.
Don’t Negotiate in an Empty Stomach
This tip might be silly to you but yes, don’t negotiate in an empty stomach. If you are hungry, you can’t think straight and there is a possibility that you can’t fully comprehend the details of important deals such as when arranging your auto financing terms. To add, do not go car shopping if you are not feeling well. It is best that you are in great condition, both physically and mentally when going car shopping.
Know When to Walk Out of a Deal
To be blunt, if the deal is not ideal to your situation, then don’t force it. There’s no point wasting time. Remember that there are other car dealers out there who can give you a better deal. There is also a possibility for the dealer whom you’ve decided to let go off to end up lowering the price a bit more or adding a few incentives to the original deal.
Bring a Partner With You
Bringing a partner with you, preferably someone who has experience about cars, will protect you from any intimidation that a car dealer might use against you. To add, your partner can act as “bad cop” by pointing out negative aspects which might consequently end up with you getting a better deal.
Choose a Good Car Dealership
Always work with a good car dealership. Remember that, at the end of the day, it is them, not you, who needs the deal the most. Ask your friends about their dealers so you can compare them side by side and so that you can protect yourself from auto loan scams that they might have experienced.
If you are still looking for a good car dealer that is really interested in helping you with your transportation needs, New Car Canada is the dealer that will surely satisfy your car needs. We offer the best auto loan products that will fit your budget, no matter what your credit score is. Start making your car dreams come true by filling out this one-minute online application form.
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