Whenever an individual is looking to buy a car for the first time, they will need to make sure that they get a fair price for the car they wish to purchase. During the car buying process, individuals will need to negotiate the price of a new car with the dealership. While this may seem intimidating, consumers who follow a few steps will help ensure that they get the best deal possible.
In order to negotiate with car dealerships in terms of price, it will be important to show them the price according to the manufacturer and tell them about the financing you have in place. It will also be vital that you tell them the exact features that you want as well as telling them about prices offered by other dealerships. Following these steps will help you get the ideal price of the car you want to buy and avoid getting ripped off.
The first thing you will want to do when negotiating a car price is to reveal the price of the new car according to the manufacturer. Each vehicle has a number of models that are offered at a specific price. It will be in your best interest to get this information and then tell the dealership that this is the amount you are willing to pay. For example, if a Ford Explorer sport utility vehicle is offered at $35,000 according to the manufacturer and the local dealership offers it of $40,000, then you will want to offer $35,000. If they refuse, then move on to another dealer who will be more accommodating.
Another thing you will want to do when negotiating the price of a car is tell the dealership about the financing you have in place. If you have a loan check from a bank or credit union that is of market value for a particular vehicle, then this will help you convince the dealership to sell the car to you. Since a dealership is looking to make a sale, you will have considerable amount of bargaining power if you have the full amount for a vehicle on hand once you arrive at the dealership.
When looking to buy a new car and negotiate the price, you will benefit by telling the salesman about the features you want or don’t want. In many cases, dealerships offer vehicles at high prices due to the features added on. However, you may not want these extra features and will need to request a vehicle that doesn’t include them. Therefore, you will need to tell them you want the particular make and model of your specifications so that you can save money.
The last step in the car price negotiation process is to reveal prices of the vehicle you want offered by other dealerships. There may be times when dealerships may offer prices that are lower than what another dealership offers. As a result, you will want to tell the dealership that you are visiting that other dealers in the area are offering the same vehicle for $3000 less. Therefore, you will be in good position to get the car you want at a fair and reasonable price.