Things You'll Need:
- do a little research
- know what you are looking for
- pad & pen for making notes
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Step 1
First thing to know when you are looking for a new car is that the window sticker (or MSRP which is the manufactuer suggested retail price)is never the bottom line. There is always room to negotiate.
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Step 2
Before going to the dealership go online to the website and do your homework. Look at the cars, SUV, truck etc that you might be interested in. Find the features you absolutely can't live without. Make a note and take it with you to the dealership. It's always easier to make a deal when you come prepared. The better informed you are the better deal you can negotiate. Remember the salespersons job is to make that deal!!
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Step 3
Look for rebates or employee pricing. Prices are really low if you can buy when either of these are offered.
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Step 4
ALWAYS buy at the end of the month. Every dealership has quotas to meet and are more willing to go rock bottom just to move the cars out. Never buy at the beginning of the month. There's always less room for negotiating.
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Step 5
Know beforehand how many miles you drive a year (especially if you are going to lease). Your options are better the lower the mileage you need. If you are a luxury driver then only go with the 10,000 miles a year rather than the standard 12,000. Lower the mileage the lower your payment.
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Step 6
When you sit with the finance person don't be persuaded to add options. Many are unnecessary (like an etch or protective coatings. Remember that each option you choose adds more money to your monthly payments. Always remember the job of the finance person (in addition to getting you the best % rate) is to sell all these options. That's how they make their commission. In the auto business that's called upselling.
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Step 7
Last but not least ask if the dealership offers a free oil change for the first service. Some dealerships will even offer the first 3 services free to make a deal. But it's all how you negotiate. ASK!!!!
Comments
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steeda432 said
on 2/15/2009 Great Info!!
grove said
on 2/14/2009 Terrific advice here. Thank you and 5*
PajamaMommy said
on 1/17/2009 Great advice for getting the best deal.
maryellen1001 said
on 1/15/2009 Great tips! I always like to know ahead of time exactly what I want down to every little extra! Checking out what's available online first puts you on a more even playing ground with the sales people. Great advice!