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New Car Negotiating Tips: Spend Less

Updated on November 27, 2012

New Car Negotiating Tips: Spend Less

SPEND LESS on a new car! If you're looking for time-tested tips to help you save your hard-earned money on a new car, you’ve come to the right place. New cars aren't cheap, but there are ways to save money.


New Car Negotiating Tips: Spend Less

  • Before even looking at a car, determine what you actually need and what you can afford.Check out Edmonds.com or an affordability calculator.
  • It’s generally not a good idea to lease, but sometimes it may be the only option. If you simply can’t afford the vehicle you need, consider leasing a vehicle.
  • Before looking at cars, get approval for a loan from a bank or credit union. Securing a loan from a dealer is almost always a bad idea. If, however, the loan is being offered as an incentive from the manufacturer, that's an entirely different thing. There's absolutely nothing wrong with many of these manufacturer loan incentives. In fact, many of these loans are the best you can get. I recently secured a zero percent loan for five years. I could have never gotten this from a bank or the dealer.
  • Look into selling your car before even stepping foot on the dealer's lot.Dealerships never give good deals on tradeins. They tell you they will, but they won't. Sell your car in your newspaper, Ebay, Craigslist, or some other source. Don't sell you car to the dealer.

New Car Negotiating Tips: A MUST SEE!

New Car Negotiating Tips

BE IN CONTROL OF ALL NEGOTIATIONS:

  1. Call dealerships to get competitive bidding. By calling them, you won't have the high-pressure sales tactics. Tell the dealer what you are looking for and tell them that you want a bid. Let them know that you will be calling other dealers too, and you will purchase the least expensive car. Dealers hate this, which means it must work. Make sure to tell them you want the final price, what it costs to walk out the door with the keys.
  2. Don't be rushed. The dealership is counting on a quick sale. When you take your time, you have a much better chance of getting a good deal. Buying a new car should take days or weeks to do. NEVER buy a car on the first day of negotiations. Don't be fooled by invoices or other sales techniques. This isn't about how much the dealer paid. This is about how much you will pay.
  3. Ask for more. Then, ask for more. If the negotiations are smooth, you're not doing your job. If you don't get what you want, walk out the door. If they really want to sell a car to you, they'll come down or offer other incentives. If they don't, either they will call you later, or you really have asked for too much. This happens. Remember, walking out the door is your ultimate leveraging tool.
  4. Say no to all additional dealership offers. You don't want oil changes for life, rust preventative sprays, and additional dealer warranties. If it costs more money, say no. If it's truly free, that's another story. Take advantage of all deals, but don't get fooled into thinking extra dealer-offered services are a good deal. They are almost never worth your money. This is especially true if you are financing those services. The actual cost is then far more.
  5. Check out this video. It's free, funny, and worth your time!!!

Tell us about your best car deal.

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    • arizonataylor profile imageAUTHOR

      arizonataylor 

      7 years ago from Arizona

      Yes, I agree. Check with as many dealers as possible and in other nearby towns. Good advice.

    • profile image

      Ashton Wood | Money 

      7 years ago

      One has to check with at least 3 to 4 dealers to check the lowest price.May be in the neighboring city the registration cost is less so you will get the car in cheaper price.

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