Tell the sales guy your price and instruct them to get the paperwork ready ifthey can match it.
Call up the dealer and ask to speak with the sales guy you dealt withbefore on a weekend an hour before closing time; on the last day of the month; or on days when the weather is terrible. A chance to make one more deal beforethe end of the day on a bad weekend, or before the end of the month when saleshave been slow, or on the day of a major snowstorm when foot traffic has beennon-existent can suddenly make your original price look very attractive.
Always Be Polite andRespectful.
It may sound obvious, but a car dealer is more likely to work hardto make a deal happen for you if you treat them with respect instead of like apiece of shit. Plus, customer satisfaction scores matter to dealerships.
Dealers know a courteous customer is more likely going to leave a glowingreview. Tip Your Sales Guy.
Offering a tip can really help to incentivizea dealer to find you the best deal possible. Check which dealers have the car you want, and reachout to all of them. Present your terms and let them fight it out for yourbusiness.
Secure Your Own Financing. Once you have a solid handle on your credit history, the second step is to shop for a loan. Check with your credit union or bank, other lenders both online and bricks and mortar to find the loan with the lowest fees and interest rates. Cutting the dealer out of the process and being pre-approved for an auto loan could save you hundreds, possibly thousands, of dollars. Once you have your finances ready to go, it's time to negotiate the price of the car you want.
Before you visit the dealership, do some research online to determine the invoice price — i. Think of it as their vig. After the dealership sells the car, it receives that amount of money back from the manufacturer over the period of a year. Offer less than the invoice price — unless you're buying a popular model, in which case the laws of supply and demand favor the dealership — and then use the holdback to walk the price down to something you can live with.
If they give you a hard time about paying invoice, remember there is always another guy selling cars. Even if you drive off the lot without paying a single penny above the invoice price, the dealer has turned a profit. If the dealership won't sell you a car for invoice, and it's not a hot selling car, it's their loss. You'll find someone willing to do the deal with you.
You wouldn't take a toothpick to a knife fight. So don't set foot inside a car dealership without knowing these 20 surefire dealer-beating tips. But you could end up crying yourself to sleep that night if you don't bring your a- game to the car dealership. Not every sales guy (or gal) is.
How to Get a Car Loan. New cars come with various warranties. The dealer may try to sell you an extended warranty, often with fine print that will prevent you from actually using it should anything go wrong, according to Consumer Reports , which suggests ignoring such offers entirely.
If you're buying a late-model used car with low miles, the dealer will offer you a warranty to cover future repairs. Make sure the original warranty is used up first.
If it is, bear in mind that warranties offered are usually not great deals, written to cover only things that rarely break, such as the power train. If you decide you want a warranty, shop around. Before you walk onto the lot, get a quote for a third-party warranty that provides the best coverage for the least money. Compare this plan to the one offered by the car dealer, and be prepared to walk away from whatever they offer.
The dealer's warranty is likely limited and overpriced. Ask what the warranty costs them, and offer that amount. As surely as the sun rises in the east and sets in the west, the dealer will offer less for your trade-in than it's worth. Maybe they offer expensive add-ons such as tinted windows, a better stereo, heated seats, a sports package, or etching the vehicle ID number into the windshield.
Whatever the case, do your research beforehand to find out what these goodies should cost. Let them know that you know, and insist on cost. Negotiate the price of each item separately.