When you start setting your sights on a new vehicle, whether it be fresh off the factory floor or a used car that’s simply “new to you”, you’re likely to find yourself on a dealership lot (and maybe even a few of them). Going through a dealership is an often frustrating and confusing ritual that sometimes must be done in order to get a new vehicle. One of the reasons so many people dread the dealership is (because of the pricing and negotiating model) you never really know if you’re getting a good deal – or getting totally ripped off!
Unsurprisingly, the sales staff liked it fine that way. But nowadays, it’s easy to find the value of a car online, so dealerships have been forced come up with other ways to trick you into paying more than you bargained for. Enticing specials and sales events, last minute fees and add-ons, and complicated financing options are just a few of the ways dealerships try to raid your pocket book. These four simple tips will help you get the best deal on your new ride.
Avoid Advertised Sales and Promotional Events
Don’t be fooled by flashy promotion events like Memorial Day sales or 4th of July events. What they may claim are heavily discounted limited time prices will likely cost you more than a well-negotiated price during another time. And while they may offer “free gifts” such as free gas, window tinting, or hard and soft top tonneau covers, the truth is, these items are probably already built into the price. Don’t forget, there’s no such thing as a “free gift” when it comes to a dealership.
Decline Every Offer After You’ve Settled a Price
Once you’ve settled on a price, the salesman knows you’re likely to let your guard down. That’s when they start to tack on extra offers, fees, and impulse buys. Once you’ve agreed on a final cost, your mantra needs to be “No, no, no” until you’re off the lot. They’ll likely tell you that you should really get some nitrogen in your tires, water-proofing, custom-fit floor mats, etc. If you really want any of these items or services, you can almost certainly get them much cheaper from a specialist.
Never Shop When the Lot is Busy
Nobody wants to get pestered by a salesman, which is why so many shoppers try to sneak through undetected during a peak shopping times. But the truth is, speaking to a salesperson is necessity of buying a new car, and it’s best to just take a deep breath and face it head on. That said, it’s actually better to show up when the place is empty. That gives you more time to talk them down on price, and the sales staff is likely to be more eager to make a sale.
Be Wary of Dealership Financing
Your dealership is probably going to try to sell you on financing, and they way they put it their financing will probably sound pretty good. However, most likely it’s not. It’s always best to arrange financing through a third party, but if you absolutely must go through the dealership remember to be careful. Dealerships like to throw out a surprisingly low monthly rate, but remember just a few dollars spread over a 60-month payment plan can add up quickly.
We hope these tips help you out on purchasing your next car. But more importantly than anything, it’s best to know which car you want, what it’s really worth, and that you are always in control of the transaction.
Author Bio: Jake McKenzie is the Content Manager for Auto Accessories Garage, a fast-growing online retailer of auto parts and accessories.