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Knowing how to negotiate a great deal on a new car is a ridiculously easy skill to learn.
Even as simply as it is, few seem to master the skill. Here are four tips to broker a killer deal on a new vehicle.
Car dealers are more willing to make a deal when sales are down. That means the best time to buy a car is either late in the evening, the last week of the month, or during bad weather. During the late evening and at month’s end, salesmen who have not met their monthly quotas will be eager to make a sale even if it means shaving a few dollars off of the price. The same goes for bad weather. You are much more apt to make a great deal on a car when dealerships have few people vying for their attention.
Before you try to negotiate a great deal, it is important to know what constitutes a bargain. That means you need to do your homework before ever showing up at the car lot. Some companies, like Woody Sander Ford, know that you should have a good idea what a new car loaded with the features that mean the most to you sells for, but you should even go a step further. Find out the values of similar models sold by other companies. You may be able to use this knowledge in your negotiation process as leverage to sell your business to the dealership of your choice.
Oddly enough, the best negotiation tool is a failure to negotiate. Go in with a number in your head. Of course, make sure it is a realistic number. With a new car, an amount of $500-$1000 less than the true market value is realistic. If the salesman refuses to meet your terms, leave your phone number and walk away. Refuse to play their game, and if they can, they will meet your terms. If not, you may have better luck at the next dealership.
Never treat a new car purchase as an impulse buy. If you enter negotiates and let your heart lead the conversation, you will likely settle for whatever deal that puts your behind the wheel immediately. No matter how much your love the newest model, if you find out you overpaid later, the knowledge will always leave a bitter taste in your mouth.
Car salesmen expect you to dicker for a better price. Before you make a deal hone up on your negotiation skills and walk away with the car of your dreams.