How to Buy a New Car During President's Day Sales

Retailers often offer their biggest sales on holiday weekends. President's Day is no exception, especially when it comes to new car dealers. Auto dealers use the February weekend to clear out their inventory by dropping prices on their available stock. With a little bit of preparation, you can score yourself a great deal on a new car during a President's Day sale!

Instructions

Difficulty: Moderately Challenging

Things You’ll Need:

• President's Day auto ads
• Car reviews

1. Decide how much you want to (or can) spend to buy a new car. This will help narrow down your options when you look through the sales offerings.
2. Decide whether you can pay for a car outright or if you will need to obtain dealer financing. A good rule of thumb is to keep your monthly car payment to less than 20 percent of your monthly net income.
3. Determine how big a car you need in terms of the number of seats and storage capacity.
4. Find out which auto makers produce cars that fit your size requirements and your budget restriction.
5. Read industry reviews about the makes and models you found to determine which ones are the safest, the best value and have the highest customer ratings.
6. Look through President's Day car advertisements to find which local auto dealers are offering sales on the cars you are interested in buying.
7. Compare the deals and savings offered by the different auto sellers.
8. Visit several car dealerships during the President's Day weekend. Test drive the cars you have researched to further narrow your search based on the way the cars handle and how comfortable they are.
9. Determine exactly which car you want to buy and ask each dealer to name the lowest price he will offer you on the car.
10. Make the dealers compete for your business by letting them know what prices others have offered you. Negotiate for the lowest sales price possible.
11. Agree to buy the car from the auto seller that offers you the best deal.
12. Inspect the finer details of the new car one last time.
13. Review the prepared contract to be sure you know what your responsibilities and liabilities are and what the dealer is accountable for.
14. Arrange for payment and drive home in your new car!

Tips & Warnings

• Do your research on car makes, models, and your budget limitations well in advance of the President's Day weekend, so that you can concentrate on test driving and bargaining during those three days.
• Be prepared for some high-pressure sales pitches. Do not let yourself be talked into any one car deal before you look at several options.