Overhaulin'

What tips and tricks can you use to get the best deal when buying a new car?

And knowing the sales person is niether a tip nor a trick.

Public Comments

1. Take your time and make sure the sales person knows this and are aware you are gonna look around for the best deal. Their gonna try to rush into it so they don't lose your business but hold steady.
2. I think the following government guide is great. Good luck! Buying A New Car A new car is second only to a home as the most expensive purchase many consumers make. According to the National Automobile Dealers Association, the average price of a new car sold in the United States is $28,400. That’s why it’s important to know how to make a smart deal. Buying Your New Car Think about what car model and options you want and how much you’re willing to spend. Do some research. You’ll be less likely to feel pressured into making a hasty or expensive decision at the showroom and more likely to get a better deal. Consider these suggestions: Check publications at a library or bookstore, or on the Internet, that discuss new car features and prices. These may provide information on the dealer’s costs for specific models and options. Shop around to get the best possible price by comparing models and prices in ads and at dealer showrooms. You also may want to contact car-buying services and broker-buying services to make comparisons. Plan to negotiate on price. Dealers may be willing to bargain on their profit margin, often between 10 and 20 percent. Usually, this is the difference between the manufacturer’s suggested retail price (MSRP) and the invoice price. Because the price is a factor in the dealer’s calculations regardless of whether you pay cash or finance your car — and also affects your monthly payments — negotiating the price can save you money. Consider ordering your new car if you don’t see what you want on the dealer’s lot. This may involve a delay, but cars on the lot may have options you don’t want — and that can raise the price. However, dealers often want to sell their current inventory quickly, so you may be able to negotiate a good deal if an in-stock car meets your needs. Learning the Terms Negotiations often have a vocabulary of their own. Here are some terms you may hear when you’re talking price.Invoice Price is the manufacturer’s initial charge to the dealer. This usually is higher than the dealer’s final cost because dealers receive rebates, allowances, discounts, and incentive awards. Generally, the invoice price should include freight (also known as destination and delivery). If you’re buying a car based on the invoice price (for example, “at invoice,” “$100 below invoice,” “two percent above invoice”) and if freight is already included, make sure freight isn’t added again to the sales contract. Base Price is the cost of the car without options, but includes standard equipment and factory warranty. This price is printed on the Monroney sticker. Monroney Sticker Price (MSRP) shows the base price, the manufacturer’s installed options with the manufacturer’s suggested retail price, the manufac-turer’s transportation charge, and the fuel economy (mileage). Affixed to the car window, this label is required by federal law, and may be removed only by the purchaser. Dealer Sticker Price, usually on a supplemental sticker, is the Monroney sticker price plus the suggested retail price of dealer-installed options, such as additional dealer markup (ADM) or additional dealer profit (ADP), dealer preparation, and undercoating. Financing Your New Car If you decide to finance your car, be aware that the financing obtained by the dealer, even if the dealer contacts lenders on your behalf, may not be the best deal you can get. Contact lenders directly. Compare the financing they offer you with the financing the dealer offers you. Because offers vary, shop around for the best deal, comparing the annual percentage rate (APR) and the length of the loan. When negotiating to finance a car, be wary of focusing only on the monthly payment. The total amount you will pay depends on the price of the car you negotiate, the APR, and the length of the loan. Sometimes, dealers offer very low financing rates for specific cars or models, but may not be willing to negotiate on the price of these cars. To qualify for the special rates, you may be required to make a large down payment. With these conditions, you may find that it’s sometimes more affordable to pay higher financing charges on a car that is lower in price or to buy a car that requires a smaller down payment. Before you sign a contract to purchase or finance the car, consider the terms of the financing and evaluate whether it is affordable. Before you drive off the lot, be sure to have a copy of the contract that both you and the dealer have signed and be sure that all blanks are filled in. Some dealers and lenders may ask you to buy credit insurance to pay off your loan if you should die or become disabled. Before you buy credit insurance, consider the cost, and whether it’s worthwhile. Check your existing policies to avoid duplicating benefits. Credit insurance is not required by federal law. If your dealer requires you to buy credit insurance for car financing, it must be included in the cost of credit. That is, it must be reflected in the APR. Your state Attorney General also may have requirements about credit insurance. Check with your state Insurance Commissioner or state consumer protection agency. Trading in Your Old Car Discuss the possibility of a trade-in only after you’ve negotiated the best possible price for your new car and after you’ve researched the value of your old car. Check the library for reference books or magazines that can tell you how much it is worth. This information may help you get a better price from the dealer. Though it may take longer to sell your car yourself, you generally will get more money than if you trade it in. Considering a Service Contract Service contracts that you may buy with a new car provide for the repair of certain parts or problems. These contracts are offered by manufacturers, dealers, or independent companies and may or may not provide coverage beyond the manufac-turer’s warranty. Remember that a warranty is included in the price of the car while a service contract costs extra. Before deciding to purchase a service contract, read it carefully and consider these questions: What’s the difference between the coverage under the warranty and the coverage under the service contract? What repairs are covered? Is routine maintenance covered? Who pays for the labor? The parts? Who performs the repairs? Can repairs be made elsewhere? How long does the service contract last? What are the cancellation and refund policies?
3. Listen it's this simple,There are thousands of cars in every model so ask the guy who is selling the car why you should buy that particular one.Is it the most inexpensive one around?Look on line and print a list of the same make and model and tell him to match the cheapest one or you'll buy the one online.That way your getting the best deal around.Depending upon your budget bewilling to travel a bit for a better deal. I don't know what the heck the guy above me wrote but it's waayyyyy over complicated!
4. know the dealer price ahead of time. Use edmunds to find that out. Don't forget to take out the dealer holdback which is either 2 or 3%. Then either come prefinanced, or come with cash. Do not let the dealer do the financing. That is how they hide the real price from you in monthly payments. Only negotiate on total out the door price. Finally, get rid of the junk fees they try and slap on. Dealer fees are BS. you should never pay one. Similar with dealer prep. NEVER pay for it. For work I have purchaced dozens of vehicles for the last 15 years.
5. There are no tricks. Just be honest and normal. Do your homework and look up their inventory online - many times, the advertising price is different online versus what's on the lot. Narrow your search down to a few cars. Research the average price and check out www.kbb.com. You need to be an educated consumer. Know what you can afford and what you want to afford. Another tip is to ask for the carfax report - that way you can see if it was in a wreck and you can make sure all #'s match. Salesmen aren't too sleezy anymore, they are just impatient and want to make a fast deal, take your time and you can always think on it.
6. you need to know what your wanting to buy ,and be able to set down and talk money with them,you can get real good deal ,but don't accept the first deal that sounds good,and also look around at other places also,you can use their prices to compare to others ,and this helps to get a lot better deal,their not going to let you walk out of their dealership and go to another one over a few bucks,they will match any price you can bring them and then probably will lower it also,if you play it cool and act like your good at dealing with these things you will get a better deal,just don't seem to anxious to jump at what might seem like a good offer,they can tell this ,and you wont get as good of a deal ,good luck with it ,hope this helps.
7. It's not the salesman that sells you the car. All they do is point out features and help with a test ride. Beware of the Business or Finance Mgr. That is where the deal is made. Never show enthusiastic interest and never give them a payment target. They will always say they can meet it and then come in a few dollars over it. Never discuss trade-in until after the car price is settled.
8. Get on the internet and compare prices on the type of auto you are looking for then print it out and take it with you, only show the sales person if you have to that is if he doesn't offer you a reasonable deal, this works everytime with me!! and they will work with you, because they want your money!! good luck!!!
9. Well the first thing is know what you want, and dont tell them. Get pre-approved financing from an outside source like your local bank. Always know your KBB prices before going. Never tell them what you are willing to pay, and dont tell them that you are already pre-approved for financing. When you find what you like, and you get the price tag then the fun starts. Tell them that you want to test drive it for a day to see if it fits you. Just because you take it for a day does not mean you have to keep it. If you dont like it tell them that you hate it. When you sit down tell them that the KBB value is $_____ and that you are willing to negotiate the price. Usually start by asking for 2k less then the listed price and go from there. They will go talk to their manager for a while for no reason, because they know what they can sell it for. When it comes to financing it ask them what they are offering for financing. If it is less than what the bank quoted you for then take it and run. If it's more tell them about your finance option and they will usually go for less.