Saving Money When Car Shopping
Whether you’re heading to a dealership to buy a new or used car, there is one rule that always applies – you should never pay sticker price.
You can save money in multiple ways when you go to buy a car, but you may have to fight your way to get to that point.
Create a Bidding War
Don’t go with the first figure a dealership throws at you for the model of car you want. Visit another dealership and see what they can do. Let them know what the first dealership told you and tell them it wasn’t good enough to keep you from walking away. They’ll know you’re serious and they’ll likely give you a lower offer.
It may take the better part of a day but if you save several hundred dollars, it will have been worth the effort.
Maximize Your Trade-In Dollars
You might be able to get more money for your old vehicle if you sell it yourself. A dealership might try to cut corners on what they offer you for your trade-in because they know you’re going to want to get rid of it anyway.
Look Online
You should know what a fair price is for the vehicle you’re looking to buy before you go to the dealership. Do your research online and you’ll be able to tell if you’re being gouged at the dealership.
Don’t Forget to Negotiate
You don’t have to accept the first offer the dealership throws at you. You have the power here, not them. Don’t forget to use it. Make them sweat it out a little if you don’t think their offer is fair enough. If you threaten to walk, they may end up giving you a better deal.
Say No to the Extras
Dealerships make a lot of money on all those little add-ons they try to sell you on, including extended warranties and extra features you don’t need in a car.
Some of those sales pushes get pretty aggressive at times. Don’t be afraid to say no, even when someone acts as if you’re making the wrong choice. This is your money, not theirs. They aren’t going to be the ones writing a check every month to pay for your car. Be firm but polite when you refuse them.
Pay Attention to When You Buy
Buying between August through October is a great trick if you’re wanting to save money on a particular year and model of car. If that doesn’t work out for you, try to go car shopping at the end of the month. Many salespeople are trying to reach their monthly quotas at this point so they’ll be more motivated to strike a deal with you.
Avoid Flashy Cars
Yes, these cars can look cool, but you’ll also pay for it if you buy a sports car or a car you’ve been eyeing just because you know it will impress people. Remember, if a car is impressive to look at, it will also carry an impressive price tag.