Finding the best deal on your new car can save you money. Some car buyers rush the process. They don’t shop around and end up paying more than necessary for their cars. There are several ways to locate a new car, and because many dealers have an online presence, you can find a new car online. Although this approach may work if you’re busy and don’t have time to visit multiple dealerships, it can also backfire. The Internet may not have the best deals, and depending on how often a dealer updates its website, the car you select may be sold by the time you visit the lot.
If you’re looking for the best deal on your next car, here are five tips to help
- Know what you can afford. Be upfront and direct with auto dealers. Refer to an auto loan calculator beforehand and determine how much you can afford. Thus, you don’t waste time test driving cars outside your budget. Don’t play games with the dealer. Let the salesperson know how much you’re able to afford in the beginning. Some dealers may try and up sell you, don’t fall for this tactic. Always look at the sticker price and bypass cars you cannot afford.
- Take a no-nonsense approach. Do your research and learn what similar cars sell for in your area. The more you pay for the vehicle, the more your salesperson or dealer profits. Visit similar dealers in your local area and compare pricing. Go online and research the invoice price for the car, and if buying a used vehicle, check Kelley Blue Book for values. Haggling is time consuming and it doesn’t always pay off. Make a reasonable offer, and if the dealer will not accept your offer, be willing to walk away.
- Work with the sales manager. Regarding price, this person makes the final decision. By going directly to the sales manager you bypass the salesperson and this translates into a faster transaction – and sometimes a better deal.
- Use a reputable dealer. If you’re looking for the best car deal, it also helps to choose a reputable dealership, such as Arrigo Automotive. Reputable dealerships offer multiple finance options and they’re willing to work with you. They can help you buy a new car at a price you can afford.
- Find your own financing. Price isn’t the only thing to consider when buying a new car. The interest rate on your vehicle plays a role in your monthly payment. To keep your payment low, you need the lowest interest rate possible. Dealers are middlemen between you and the finance company, and dealers typically hike up the rate to earn additional profit. Secure your own financing with a bank and you can save money.
Agreeing to a bad auto loan can result in paying more over the life of your auto loan. Good deals are available, but they require patience and research. Take your time, choose a reputable lender and you’ll score an amazing deal on your next vehicle loan.