Buying a car can be tricky if you don’t know what you’re doing. There are a couple of guidelines to follow when purchasing a new car that will help you avoid potential pitfalls.
Guideline number one: Begin your search online
Avoid going to the dealership directly. This is exactly what the salesman wants. If you don’t do your research online first, you always end up paying more. Whenever you walk onto the sales lot without doing your research, the potential of wasting money is greater.
The salesman is hoping he can distract you with all the shiny new cars. You might think the salesman is a nice person, but they only have one intention; to sell you a car and reap the profits.
It’s not illegal because it’s their job to sell you a car that’s more expensive than you would pay if you had done your research. If you know which car you want, it may be wise to research models, colors and gas mileage. Think about printing off a spec sheet that includes the average price that consumers have paid for that same model. Bring the sheet to the dealership to show that you have done your homework
Guideline number two: Choose the dealer who is willing to demonstrate the car and the features to you.
If you’ve done your research prior to showing up at the dealership, you should be able to find the model you want at a bargain price. You shouldn’t have to visit every dealership to find your bargain car. To avoid stepping foot on several dealership lots, and send a fax with the make, model, color, and features you are looking for to every dealership that has your same model in stock. Specify the price you are willing to pay in the fax.
Send this fax to all the dealerships you are interested in and wait for the bids to come rolling in. Also, tell all the dealerships that you will purchase the car with the smallest price tag.
Make an appointment to visit the dealership that offers the lowest price on your dream car. Have the salesman take you for a test drive and show off the features of the car. Make sure the car you test-drive is the same car that was discussed in the agreement. Avoid buying a car that will have to be delivered from another dealership. When you accept or pick a bid, it should include the VIN number. Make sure the car you are test driving has the same VIN number.
If you are satisfied with the car, tell the salesman what you are willing to pay. Prepare yourself to hear every excuse in the book as to why the dealership can’t sell you the car for your offer. This is the last attempt at trying to get you to pay more than you agreed on. Stick to your guns.
Guideline number three: Leave if you have to.
If they allow you to purchase the car at the price you agreed on, then purchase the car. If not, leave the lot.
Let them call you after they consider your price. Nine times out of 10, their offer will be aligned with yours.
Guideline number four: Attempt to buy your car on the very last day of the month
At the end of the month, the dealership is more likely to agree on your price because they need to sell more cars to make room for new inventory. They may also have to pay special fees at the end of the month for every single car that is still on the lot. Use this to your advantage and do your very best to purchase the new car at this time.
For example, I like Honda so if I want the 2016 Accord I would wait until the last day to get the best deal.
Buying a car can be stressful and unpleasant if you have no idea what you are doing. If you do research before purchasing your new car, you can make the process less stressful and even score yourself a new car with less money involved.