Purchasing a new vehicle is an exciting experience. But it can also be a stressful process if you feel pressured or worry about overpaying. Car dealerships have a reputation for aggressive sales tactics and trying to upsell customers on unnecessary add-ons. However, there are steps you can take to find the ideal car for your needs and budget without getting scammed.
Research Models and Prices
Before you start visiting dealerships, spend time online researching different makes and models. Check out reviews on sites like Edmunds and Kelley Blue Book to narrow down the specifics of what you want. Compare prices across multiple sources to get a realistic expectation of what a fair deal should be. Going in informed makes it harder for salespeople to take advantage of you.
Get Pre-Approved Financing
If you need to finance your purchase, secure approval for an auto loan before ever setting foot on the dealer’s lot. This prevents them from running hard credit inquiries all over town as a negotiation tactic. Online lenders like Lightstream typically offer better interest rates than dealer financing. Having a pre-approval gives you leverage to negotiate the best possible rate.
Bring an Objective Supporter
Car dealerships can quickly overwhelm you if you’re on your own. Bring along a trusted friend or family member to provide a second objective perspective. Make it clear you want their presence for observation purposes, not to intervene in the negotiations.
Take an Extensive Test Drive
Never make an emotional decision before test driving the vehicle extensively. Take it on the highway, over bumps, and thoroughly inspect all features and controls. A proper test drive helps ensure the car truly meets your needs before you commit to buying. Don’t let salespeople rush you.
Negotiate the Price
Dealers intentionally price vehicles above what they expect to sell them for to leave room for negotiation. Research fair prices online for the specific car you want and make lower counter offers. Be willing to walk away if you can’t get close to the number you want. Watch for extra fees and add-ons tacked on at the last minute too.
Consider Using a Car Buying Service
To simplify negotiations and avoid overpaying, consider using a car buying service. They negotiate on your behalf to secure below-market pricing that can save you thousands. You pick the specific car you want and they handle the dealer negotiations to get you the best deal.
- Shop at month’s end when dealers want sales
- Get multiple dealer quotes to compare
- Read paperwork carefully before signing
- Consider certified pre-owned to save money
- Set a maximum budget and stick to it
- Withhold trade-in details until pricing is set
- Decline unnecessary extras like rustproofing
- Ask for clarification on any undisclosed fees
- Go with your gut – if it seems too good to be true, walk away
Purchasing a car is always a major financial decision. But entering the process well-researched, patient, and willing to negotiate will help ensure you get the perfect car for your needs without overpaying. Don’t let pushy sales tactics pressure you into a deal that doesn’t feel right.