In order to get the cheapest price and best loan for a new car, you should have accurate information that will help you to be savvy during negotiation. Before going to the dealer, it’s way better to fill yourself with facts including available discounts, how much dealer should pay for the chosen car, how much other buyers paid for similar types also loan calculating details.
1. Set Your Funds
After knowing specific model of the best car to buy, you can go home and prepare to make cheap new car deals by gathering all needed data. First, you can open two trusted and professional car website and discern how much they tag the car. Then, you can submit an inquiry to each of them asking about engines, the car’s accessories as well as its available colors which should have been through their price calculator.
Remember to take note every information you have collected to compare each other. Their reply has to include three kinds of prices. First, MSRP is just like its acronym, the retail price suggested by manufacturer. The MSRP you received should be close with the tag you find at the dealer you’ve visited before.
Second, invoice price which is the dealer has to pay for the unit car. Third, Average deal price which is generally around retail price to invoice price. You can set your cheap new car deals to be more than invoice price and less than the average deal price.
2. Take on Discount
This time, you need to learn if there’s any discount or options for low cost financing. Visit the car’s website and find if there’s rebates. Gather all data and compare it. Pick the one that would make cheap new car deals.
3. Go to Dealer
Here some tips for you to get through negotiation smoother. First, you should wait till the end of month when all salesperson is trying to meet the quotas and dealership is struggling to get additional budget to make profits.
Also, you should better come on Friday especially couple hours before closing. This is time when anybody is anxious to face weekend, so you will mostly makecheap new car deals. You should tell the salespeople that you want to make a deal today and ask them how much they put the price on.
If they come back with a lower price of retail price, then it’s good clue for you. You can firstly counter their offer with only $100 above the invoice price. Probably, the salesperson will be hesitated to ask their sales manager and said you are giving too low price. You can add some amount until it closes to the cheap new car deals you’ve set.
When the closest price is still not approved by the sales manager, you should give your final counter at the nominal you’ve decided of cheap new car deals. If they still don’t accept the deal, then, it means you should go home and try another dealer.
4. Finalize Your Deal
After you are successful to make cheap new car deals, you will be guided to the finance officer at once. Ask the best financing scheme they can offer. But you should also show your own loan as option. This will avoid you from tricks that they could set through financial charge markups.