If you are in the market for a new vehicle, you undoubtedly will want to pay the least amount possible in exchange for a new set of wheels. Going to an auto dealership to look at vehicles available can be a bit overwhelming if you do not do your homework beforehand. Here are some points to consider when searching for a new vehicle in an attempt to make sure you get the best possible deal in the process.
Get Approved Beforehand
Getting a loan approval before setting foot on a dealership property will give you a huge bargaining advantage. This will allow you to negotiate as a cash buyer since you will not need to take the dealer's financing options if you do not want to. You can still find out what their financing options available to you will be and perhaps they will match or beat the bank's rate in an attempt to secure you as a customer. You will have a preset interest rate in mind with your bank approval, making it easier to decide where to get funds for your purchase.
Decide On Specifics
Have an idea about what vehicles you are interested in before going to price them. Do research online to find out what add-ons are available for the models you like so you will not be caught off-guard with additional costs if you decide to purchase one. Go to your insurance agent and ask for an insurance quote for each of the models you are interested in. This may help you make your final decision.
If you have several models that interest you as purchase possibilities, you will be able to negotiate for a lower price on the higher priced models on your list. Since a dealer would know you would settle for one of the lower priced models, they may give you additional discounts on the higher priced ones. Being flexible in the color or style of a vehicle will allow you to select one from a larger list of possibilities, giving you a chance at a vehicle at a lower price as a result.
Take Your Time
Buying a vehicle is not a "now or never" situation. You have the power to walk away and comparison shop at other dealerships. It is best to go to more than one car dealership to make sure you are getting the best deal available in your area. While you may feel you have to purchase the vehicle at that instant to get the price you are being quoted because of incentives being offered, they will come back around again.
Take the time to be completely sure before making a commitment. Walk away the first time you visit the dealership and return again a few days after you have had time to think over the deal. There is a chance you can renegotiate the pricing on your second visit as well.