A car is one of the biggest purchases you will ever make. The first trick? Stay calm and don’t get caught up in the heat of the moment. Think carefully, be well-informed and stay empowered.
Here are 10 helpful tips to get you the price you want on the car you love and have that buying experience be one that you are satisfied with.
1. Be casual.
Don’t have the same “Must have this now” attitude with the salesperson that you do when you are buying a new pair of shoes. Approach the salesperson in a more casual, “just browsing” way.
2. Do your research.
Research Women-Drivers.com & locate women-friendly dealerships before you shop for a car. In addition to reviews written by other women rating a dealership’s women-friendly score, the site helps you navigate through must-have gadgets to the newest green vehicles as well as safety features. Make sure the dealer knows you are a savvy, knowledgeable consumer.
3. Know what you need.
Do not get reeled in by all of the extras and freebies. Yes, we are all guilty of buying two lipsticks because we can get a third free. It is much different with a car. If the dealer tells you that he is “throwing in” heated seats or rust-proofing, take a closer look to be clear just who is paying for that.
4. Negotiate after incentives.
What this means: dealers will tell you that they will give you $1,500 cash back if you buy a car. Now, would anyone willingly give you “Free money?” Unfortunately for us, probably not. What this really shows you is that the car is marked up. Negotiate the price with the dealer without incentives. Then, only after you have that price, ask, “What else can you do for me?”
5. Have your financing approved before you shop.
Walk into the dealership with your own financing approved and ready to go. How do you do this? Go to your bank, credit union or online lender and get pre-approved for an auto loan. Then, when you speak to the financing manager at the dealership, pull out your piece of paper and ask them, “How can your F & I team beat this?”
6. Know your price.
Know exactly what you can afford and do not go above that. When the dealer starts negotiating with you, make like a broken record and keep repeating exactly what you want. They may get annoyed; but remember, they want your business.
7. Find rebates and incentives.
It isn’t too hard these days! Look in the local newspaper and on television ads for the best deal. If it happens to be for a dealership that you do not want to shop at, take the deal to the dealership you are interested in buying from and ask them to meet or beat it.
8. Find the right salesperson.
If you’re not getting the treatment that you expect, or you don’t think you’re getting the good information, ask for the manager or someone else to help. For many women, they feel they are held captive by having to take disappointing service. It’s up to you to speak up or get up.
9. Learn how to deal with trade-ins.
If you have a trade-in, negotiate the price before you decide what new car you want to buy. If you work out the trade-in price last, you will be more likely to want to get rid of it and could wind up throwing money away, if you don’t negotiate up front for the best price on your trade in. Also, don’t consider trading in your car until the dealer promises, in writing, that they will pay the balance.
10. Express yourself.
Register for free and write a review about your visit at the dealership on Women-Drivers.com. Share your experience with other women and help them locate Women-Drivers Friendly dealers in your city.
Have you successfully negotiated a great deal? What’s your best advice for novice car buyers? Share it in the discussion below.
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Sounds very interesting.
Spike, you are awesome! Love your perspective, thanks for sharing.
Great advice! For new cars, it’s also really important to find out what the dealer paid for the car – including the specific features – so that you know what profit they’re making. Kelly Blue Book (kbb.com) is an excellent resource, and there are others, too. You’ll learn what to factor in for the dealer’s overhead and other costs. If you know what the dealer has into a car, you have a much better idea of what’s reasonable for you to pay. (Those sites are great for used cars, too. They at least get you in the right ballpark for what you should pay for this car in this condition with these features and this many miles in this zip code.)
I bought a new Toyota Rav4 a few years ago. The sticker price was right around $28,000. From my research, I knew that the dealer had about $18,500 into it, so I offered $19,000 and ended up paying $19,300. I was totally up front about where I got my figures, and I didn’t play any games. They told me I was being unrealistic, and I said maybe that’s true and after I go to a few other dealers I’ll come back with my tail between my legs, but this seems reasonable to me. Needless to say, they didn’t want me to go talk to other dealers.
Knowledge is power!
HB
Dear Haublossom,
Most excellent job. You are so right, knowledge can go a long way. Money saved then is more money in YOUR pocket now. And, can’t we all use alittle more of that!
I acknowledge you for being very straightforward. Not afraid to say what you wanted. Not afraid to look ‘silly or cheap’, and certainly not the least intimidated by their comment about your offer being unrealistic.
Great suggestion about Kelley Blue Book — they are the trusted number 1 source for estimated costs on new and used vehicles.
I invite you to write a dealership review on http://www.women-drivers.com – rating your experience will take you a few minutes. Your review will make a difference to some future car buyer in your city.
Drive Your Bargain,
Anne