Don't Pay Sticker Price: Use These Negotiation Tips
Don't forget to check that before you sign on the dotted line. Instead, negotiate for the best overall deal on the price and financing of your vehicle. This will help you determine the best course of action for a monthly payment schedule.
If you're buying a car from someone, make sure you get your mechanic to look at it prior to buying it. Think twice about buying a car from someone who refuses to let you do so. There may be hidden problems that can be expensive to repair. You probably shouldn't get into this without figuring out who they are first.
You should never pay a car's sticker price. The dealer isn't expecting to get the asking price. If negotiating is not your strong suit, take a skilled negotiator with you. Have a ballpark figure in mind before you go.
If you are in the position to buy a new car, you should think about the vehicle's gas mileage, as that will affect your overall budget. As an example, you may want to buy a car with enough power to tow a boat behind it. However, you have to consider whether you'll use that towing capacity and if you'll often use the extra horsepower of a V-8.
Before you head out car shopping, check with your bank to ensure that you qualify for a loan. This is simply for safety. Usually the dealership's finance department can find a better rate for you than a bank, but it can help if you find what interest rate you're looking at prior to shopping.
Think about whether the fuel economy of your car will make it more or less affordable for you. For example, it may seem like a good idea to purchase a V-8 with towing capability. Think about when you would actually use this and then factor in all that extra gas.
Be prepared to make concessions when negotiating for a car. Perhaps the cars you can afford lack the options you desire, and maybe the ones sitting on local lots just do not meet your checklist. This is a feature that is not necessary towards your overall purchase.
Always take a test drive. Even if you have your ideal vehicle picked out and available at the dealer, take a few minutes to actually test it out. There is no substitute for direct and personal testing. Perhaps the car isn't quite as smooth as you thought.
Do your homework. The Internet is a great source of pricing and value information. NADA and Kelly Blue Book are great resources for finding out the value of a car. If the dealer is selling a car for more than what these two sources price the car at, then go elsewhere.
After you've read these tips, you should know how to deal with salesmen when buying a vehicle. You won't be hit with things you do not know about, and you will be prepared to deal with their tactics. Keep this advice in mind, and go out and car shop.