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Have you got your heart set on a new car? Contrary to popular belief, depending on your price range, it can be better to buy new than used because of the seven to ten-year manufacturer’s warranty offered on some new cars. Besides, nothing beats that new car smell and the excitement that you get when you arrive at the dealership to pick up your vehicle and they’ve wrapped it up with a big red ribbon. If you are about to invest in a new car, we have five strategies to ensure that you get the best deal possible.
Skip the Trade-In Offer
Trading in your old car is a popular option because it is the least amount of work. But it is rarely the most cost-effective approach. You are likely to get far more for your car if you sell it privately. Alternatively, some car wreckers offer cash for cars and will even pick up your vehicle and take it away at no cost. Take an hour to research what price other cars of your make and model are fetching online and ring around any local cash for car businesses. If you can make an extra couple of hundred dollars, it will be well worth your time!
Do Your Homework
Do you know what car you want to buy? Research different brands and the features that you get with each model. Having some of this basic knowledge before you head out will help you bargain with the car salesperson. It can be overwhelming when you are looking at lots of different options, so clarifying which features are essential to you will help you prioritize. You should also know what the listed price of the car you want is so that you can negotiate better. It is much more powerful to say, “I saw that you have the Ford Fiesta listed on your website for $25,000 – I can offer you $22,500” than to ask, “what’s the best deal you can do?”
Take Advantage of End of Month and End of Year Sales
Each department at the car dealership has monthly and annual targets to make. The manufacturers will push to sell more cars and offer the dealership incentives to hit their numbers. Because of these incentives, the dealership may be willing to cut their profit margin to reach their targets. For this reason, it is always worth looking to buy a car at the end of the month or the end of the financial year.
Don’t Get Distracted by the Add-Ons
Car dealerships often tell customers that they can’t come down on the price of the car, but they can throw in added extras like floor mats or tinted windows. Of course, these added extras are useful, but if they aren’t something you would have considered otherwise, don’t be swayed by the “free” inclusions.
Offer an On-the-Day Deposit
Just as dealerships are incentivized to meet manufacturer targets, the businesses also offer their sales teams incentives to sell cars. If you walk in and let the salesperson know that you are ready to put down a deposit today, they will see that you are serious and do what they can to make the deal happen.
Hopefully, these tips have given you the confidence to negotiate with ease. So, what’s the hold-up? Go out there and get yourself a good deal on a new car!
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