How to Buy A New Car Cheap
Getting a great deal on a new car is not difficult. The new car buying process can produce anxiety for many people but it should be a fun experience. If you follow these steps you will be able to save time and money and buy your new car like a pro.
Other People Are Reading
Instructions
-
-
1
Go to one of the resources listed below and select new car from the top navigation bar then price w/options from the top bar. You may be asked for your zip code here. Select your make and model of car. You will then arrive at the price w/ options screen. Select the vehicle you want with all the packages and options you want. Here you will see the MSRP and Invoice price for all the options available on the make and model car. These invoice prices are 100% accurate. These are the exact numbers on a dealer invoice.
-
2
Look at the manufacturer rebate in the bottom of the page and subtract it from the Invoice price. This is the purchase price you should pay for the car.
-
-
3
Most makes of cars also have something called dealer holdback included in the price. Traditionally it is about 2-3% of the MSRP of the car. Start negotiating at the invoice price minus the rebate minus the holdback.
-
4
There is a destination charge of about $500 added to the price of the car. That is the charge to get the vehicle from the factory to the showroom. It is unlikely you will get this amount of the price of the car but you can try to negotiate this amount off the price of the car too.
-
5
Shop at the end of the month when dealers and sales people are trying to make their month end quota for new cars. All bonuses and incentives are based on a calendar month. Dealers and Salespeople are extremely motivated at the end of the month to sell new cars. If they think you are a buyer they will work very hard to get you to buy their car.
-
6
Before you go shopping look at all the local new car dealer web sites to see if they have the car you want. This will save you time. Any dealer can locate a car and get it for you but they will be more aggressive with their pricing if they know there is a car on their lot you would like to take home that same day. If you don't know the names of local car dealers simply search the web to find the manufacturer's site and locate a local car dealer using your zip code.
-
7
Once you find the car dealerships that have the vehicle you want send an email to their internet department or call them. Let them know they have the car you want, the price you want to pay for the car and ask for confirmation that the vehicle is available. Let them know you will be in that day for the car if they agree to sell the car for the price you are willing to pay. Have them send you an email confirmation with the VIN -vehicle identification and the agreed upon sales price. You will be surprised how many car dealers will do this. Almost all of them.
-
8
If you are going to finance your car you should apply for a carloan at your bank or credit union unless you are planning to take advantage of a low interest rate program at the car dealership. Car dealers make a lot of money from financing and will often charge you an inflated rate.
-
9
If you have a vehicle to trade in you don't need to tell the dealer about that until you negotiate the price of your new car. The price of the new car and the money they will give you for your trade should be discussed separately. You can check one of the referenced sites below to learn the value of your trade.
-
1
Tips & Warnings
Do your homework ahead of time and your car buying experience will be fun and hassle free. You will also save a lot of money.
