May the Best Dealer Win: Striking Good Car Buying Deals

If you're planning to buy either a used or new car, it's important to know the best negotiation techniques to make sure you get the best deal on your next vehicle purchase. There are a variety of factors to consider, including if you'll need a loan, what dealers to consider, and if deciding between new and used, the price of the new car vs price of a gently used vehicle. After all, you’ll want to save as much money as possible in the car purchasing process.

 

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Before we get into the essentials of how to negotiate your used or new car purchase, there are a few things to remember. The first thing to consider is a car's depreciation value — From the moment a new car drives away from the dealership that you buy it at, it loses value and continues to do so in the following years that you own it. You can use this piece of knowledge to determine your price range and if it's a better financial move to buy a used car or new car.

Another thing to consider is that car prices will vary depending on where you get the car from. Most of the time, private parties will offer cars at the lowest price compared to certified dealers, but remember that dealers and certified pre-owned vehicles are typically more reliable since they're backed by lemon laws in most states.

One more thing to consider before you start your car buying process is to do your research. Make sure you've read up on everything you need to know — From the highest price of the car model you're looking at to determine what a fair price would be to new car rankings and sticker prices for both old and new vehicles, you'll want to get a good idea of what you're walking into before you talk to a salesperson.

Now let's talk through some of the most basic things you need to know about negotiating a good deal for your car purchase:

 

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1) Come with as much information as possible. In this scenario, it's best practice to do all your research before going in to see the car or negotiate with the dealer. You'll want to do this in case you can get a better deal or more value for your money that you may not have known about otherwise.

2) Make sure you're eligible to purchase the car. If you're thinking about financing your car purchase, it may be helpful to get pre-approved for a loan prior to making negotiations. Some dealers will ask about your credit score and financing options, so be prepared to talk about this and other loan options that may be available to you, such as u. Most of all, it's important to consider your financial situation before jumping into the car purchasing process.

3) Try before you buy! Make sure to go in-person to test everything about the vehicle before you make a purchase, including giving the car a test drive. Pay close attention to the car's features, its add-ons, or any marks or problems that were not advertised by the salesperson. Additionally, it’s imperative to ensure that the car dealership or private party is offering you a good price for what you’ll be getting.

4) When in doubt, ask questions! It never hurts to ask the questions you're unsure about — whether it's about the car's warranty, making monthly payments, or requesting more information about the history from the dealer, it's best to find out as much as you can so you can make an appropriate offer.

5) Walking away doesn't mean you lost. Sometimes a dealer will reject the offer you make them, and if both of you are unwilling to stand down, you may have to walk away from a bad deal. Remember that you have good reason to bargain for the offer you've decided on, so don't settle for a deal that's far outside of your comfort zone — There are plenty of dealers out there who may be willing to make accommodations to what you need.

6) Talk to multiple dealers to make sure that you have the best price. You can do this online to avoid having to drive all over town just to find a great deal. Some websites will help you compare dealerships and purchase prices so that you can decide on the best options for you.

 

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Whatever you decide when it comes to your car purchase, make sure that you are strategic and persistent. Once you have your offer ready, be firm and let the dealers know that you've done your homework and have a good idea of what the car you're looking at is worth.

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