A few basics will help to give you the bargaining edge.
Shop at the end of the month. Dealerships have quotas to fill and the earlier in the month, the more apt they are to try and get the sticker price for a car. At the end of the month they may really need to move something from the inventory column to the sold column and be willing to really slash their markup to show that movement.
Consider buying last year’s model. Many dealerships either have in stock or can get brand new leftovers at a considerable savings. If you just have to drive the current year’s vehicle, these are not the cars for you, but if you want a brand new car at a significant savings, consider this option.
Never pay sticker price. The price on the sticker is a starting figure. If you are too shy to bargain, take along someone who isn’t.
Don’t say you’re going to trade your car. You’ll starting losing negotiating dollars. Always say you’re going to pay cash. Once you come to terms with paying cash, then you can point to your car and ask about its trade value. You might find that you’d do better selling your car outright and paying cash for the new one.
If you want a high trade-in for your car, don’t expect a big cut in the sticker price of the new car. If you’ve negotiated the price down low on the new car, expect a low trade-in as well on your car. Think low-low or high-high. It all works out as long as the both of you have the same mindset.
Take a pad and pencil with you and write down every defect you see on and in the car. Open the trunk, check the back seat, look under the carpet, check around the molding, raise the windows, play and radio and cassette player, raise and lower the top if it’s a convertible.
If the car has been repainted, find out why. Was it in an accident? How much damage was there? Is there structural damage that will cause you problems later?
If you’re buying a used car, have your trusted mechanic check it out before finalizing the deal. This is important with used cars since you won’t have a new car warranty to fall back on. Walk away from any dealer who doesn’t welcome your mechanic’s assistance.
Read the newspaper to compare deals from different dealerships in the area.
Know your car’s trade-in value before going shopping. Call your bank and ask for the current Blue Book price. Be realistic about your car’s value.
Watch out for new car options. They’ll bring the sticker price up fast.
Before you sign a contract, walk away, then drive away. Go shopping, go to the library, go to a movie. Cool down.
It’s too easy to get caught up in new car fever and have regrets as soon as you drive off the lot. Rarely is a car the only one of its kind. Go back the next day to finalize the deal if you’re sure it’s the car you want.
Can you afford the payments? How much will your insurance increase? Will it fit within your budget?
Don’t give a car a personality, don’t fall in love with it, don’t call it ‘cute.’ It is not a living creature, it is simply a means of transportation.
A car’s color will not make it drive better, accessories and other options do not make a car more dependable nor make it more economical.
Salespeople are in the business of sales. You are not obligated to buy a car from a salesman who has spent the last two days showing you cars. If they have the car you want, buy it if the deal is right. Otherwise, look elsewhere.
You’re not obligated to buy from a local dealership if a dealership an hour’s drive way has the same car for $1,000 less. You can still get the car serviced at the local dealership.
Convenience and ease of service are factors to consider. If you’ve gone out of town to buy the car of your dreams because it’s not carried locally, how much time will you spend taking it out of town for routine maintenance and service?
A Last Word From Nora
“I’ve found a lot of people think older women don’t know how to buy a car. Most times when my friends and I drive onto a car lot I’m sure the salespeople think I’m somebody’s grandmother out for a Sunday afternoon of tire-kicking. I may be somebody’s grandmother, but if they’ve got a car I want they soon find out I’m a lady who knows how to make a deal!”
© Pat Gaudette