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How to negotiate a car, van, suv or truck purchase and not get ripped off

Not all car dealers are equal. Many dealers are very honest and will guide you toward making a fair deal for both of you. However, buyers beware. Some dealers are not as honest. There are many techniques that dealers use to benefit themselves.

As you enter the showroom and see shiny new convertibles, SUV's, autos, trucks, jeeps or any other vehicle that draws you in, there are a few things to keep in mind.

Rebates

Rebates come from the car manufactures. Do not allow a salesman to tell you that you are receiving a great deal due to the rebate. Make your deal without factoring in the rebate. Then take that amount from the price of the car. Additionally, after the deal is made, ensure that the rebate is subtracted from the purchase price. You do not want to pay extra taxes. If you are told that the rebate has to come off of special features, check this out. Do some homework.

The Worksheet

If the salesman is writing away on a worksheet trying to give you a great trade-in value is alert that he isn’t jacking up the price of the car. Go in and make your best deal. Then tell the salesman that you have a trade-in.

Don’t tell too much

The salesman may ask you what you are comfortable paying each month. Tell him that you just want to shop cars and you will worry about what you feel comfortable with.

Financing

Go to a bank ahead of time and discuss your credit score and financing. The bank may offer you a better rate. Ask for the Actual Percentage Rate (APR) whether you are in a bank or if you decide to go through the dealer.

Consumer Alert

TV advertising is used to draw you in. Plan on spending at least fifty dollars more than what is advertised for delivery charges, title fees and other costs connected with purchasing a new car. Know what you want to pay. One dealer would not meet my maximum. Another dealer not only met it but they offered me the 2009 instead of the 2008.

Paperwork

Ensure that all paperwork is filled out before you drive the car off the lot of the dealer. Do not sign anything that is “subject to approval” for a car or otherwise. Walk away if anyone tries to pull this stunt.

Good guy, bad guy

Be alert if your salesman tries to act like he is on your side and has to “get approval” from the bad guy manager. Do not give any money to prove anything to anyone. Should you make a mistake and do so, do not feel pressured. You may cancel your check.

Maintain a professional demeanor

Do not appear too anxious. Be aware of those around you or the possibility of those who may be listening in on your conversations. If the salesman walks away, step away from his desk to speak about confidential matters.

Keys

This one actually threw me a real curve when I heard that such a thing could happen. The dealer wants to view your car in order to offer you a trade-in price. They act like they misplaced the keys to keep you in the showroom longer. Solution: take an extra set of keys with you. Tell them to contact you when the first set shows up.

Sadly, we must be alert consumers. Many dealers are honorable and would not resort to such tactics. When you make such a connection of trust, maintain contact for future deals.

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Happy shopping!

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