When it comes to finding the best deal, knowing how to approach the dealership can be a big help. Here are 6 invaluable tips…
The process of buying a car isn’t one that anyone should go into lightly. It can be a stressful experience, but being prepared ahead of time and knowing what to expect can make the process easier.
You are about to buy something that you intend to drive for years and don’t want to make the decision too lightly. Follow these tips to ensure you have the most pleasant car buying experience possible and feel confident in your purchase decision.
Tip #1: Have an Idea of What You Want to Buy
Have a rough idea of the kind of vehicle you want before you decide to actually visit a car dealership. Go online and research the models available in the style you want. Don’t commit completely to a specific make and model if there are alternative options worth considering.
Look at the prices, features, size and reviews from other owners so you know you’re headed to the dealership informed.
Tip #2: Get Multiple Quotes
The Internet gives you access to dealerships near and far to let you research prices and see what is available at each location without needing to travel to each dealership individually. This way you can get an idea of where you’ll get the best deal and avoid wasting hours going somewhere that doesn’t even have the vehicle you want.
You might need to travel a bit further to get the best deal, but dedicating the entire day to buying a vehicle will make it worth the time to go out of your way to save thousands.
Tip #3: Know Your Budget
This tip is very important. Be realistic in your expectations of how much you can afford to spend before you actually go to the car dealership. If you’re well-informed and know the MSRP of the vehicle you have your eyes on, you’re one step ahead of the game and are in a better position to negotiate with the salesman.
Don’t forget to take taxes into account as well as interest rate and the overall cost that determines your monthly payment before taking a test drive and falling in love with something that isn’t realistic for your wallet. (Use our free Auto Payment Calculator!)
If you intend to trade your current vehicle in towards the purchase price, know how much it is worth. (Use our free Trade-In Calculator! It takes less than a minute.)
Tip #4: Check Your Emotions at the Door
It’s tempting to buy the first vehicle you test drive after feeling how smooth of a ride it is, but if it is out of your price range then don’t waste your time. Emotions can come into play heavily when buying a car, but remaining logical will save you money by preventing you from making hasty decisions on impulse.
Keep in mind that most salesmen are trying to make a profit and you’re trying to get a deal, so negotiations need to remain professional. You’ll both be better off if you try to work together to find a vehicle you want at a price the dealership is willing to let the car go for.
Tip #5: Look at the Overall Financial Picture
Monthly payments aren’t the only thing to consider. Lengthening the term of the loan can reduce your monthly payments, but it can cause you to pay thousands extra in interest over the life of the loan. A lower payment doesn’t mean that the dealership dropped the price, just that they had some wiggle room to seal the deal.
Tip #6: Be Ready to Walk
This is probably the hardest part of buying a car. You’ve fallen head over heels with the car and have your heart set on driving it home, but the deal isn’t feasible for your wallet and the salesperson isn’t willing to come down any more.
Leave if you feel uncomfortable during the negotiation process or think that something doesn’t feel right. Your instinct is probably right. You can always come back the next day, talk to a different salesman or go to a different dealership after you’ve done some research to guarantee that you’re really getting the best bang for your buck.
Don’t let the pressure of car buying dissuade you from buying one. Be smart and patient and get the car you want at a price you can handle. If you are on the market for a new vehicle, check out Platte City-Airport Chrysler’s online inventory or come by for a test drive of your own.