5 Tips To Getting The Best Price On A Car

by Valerie, Mom Knows It All

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5 Tips To Getting The Best Price On A Car

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Most people find themselves in the position of having to buy a car at at least one point in their life. Some people consider buying a car a little overwhelming, particularly if it’s their first time doing so on their own. No matter if you’re buying something new or used, there are certain things you should always keep in mind when buying a car. Here are tips on how to use these factors to get the best price on a car possible.

Know What You Want

Before you start shopping for a car, know what you must have and what you are willing to take or leave. It’s highly likely you will have already determined the type of vehicle you’re looking for, such 2 or 4 door and car or suv. You may even have a specific make and model in mind. Some of the numerous other things to consider are the amount of space, type of engine, a certain type of stereo, heated or cooled seats, sunroof, etc. Before you leave the house have an idea of what other manufacturers have a model similar to what you want, should you be unable to find what you want or should you find a great deal on it while you’re shopping.

Research Pricing

Getting quotes is easier now than ever, courtesy of the internet. Modern dealerships recognize today’s busy lifestyle and often list their inventory online, including main features and pricing. When getting your quotes, do not mention your monthly budget or if you have a trade-in. Do not inquire about rebates and cash-back offers. For practical purposes imagine you are paying cash, so you only need to know the best price and any taxes or fees. Know that some fees are not negotiable, such as tax, title and registration. Dealer fees are not a legal requirement, so you will want to watch for those. Before you sign any paperwork you should also check with your insurance company, to determine how the new car will impact your monthy insurance payments. You should get quotes from numerous places. I recommend getting pricing from a third-party site like Cars.com, their site can seee pricing within a region and it will give you a good idea of what a car should be selling for. Be open-minded when researching, if possible. I once saved over $8,000 by driving 300 miles to purchase a vehicle.

Determine what are you doing with your current vehicle, if you have one.

I personally believe that trading in a vehicle you own outright is rarely worth it. Financially you will almost always be better off trying to sell your current vehicle privately rather than trading it in. You can get a good idea of what you stand to gain either way by doing a few minutes of research online.

Know Your Finances

It’s very important you know what you can and cannot afford. Unless you actually have cash, you’re going to need to make monthly payments. With that in mind, you should know what your credit rating is. You can find this out online. If you have been a loyal customer of a specific bank or credit union, consider going in and discussing what a car loan with them would look like. It’s really helpful if you walk into a dealership with pre-approved financing, or know where you are getting your loan from. Having financing in place before you buy helps you avoid the dreaded long wait in the finance office, where the salesperson disappears to “check for the best deal with their manager” while in fact they are trying to run your credit to see how much of your money they can get you to spend. If the salesperson or finance person at a dealership tries to negotiate a deal with you based solely on the question “what monthly payment can you afford” you may want to leave. This is one tactic that’s been used for years that lets dealers actually make more money for themselves while costing you more money. I have seen salespeople sell based on this tactic, they change the price which lengthens the term of the loan and changes your interest rate.

Be Prepared to Leave Without The Car You Want To Buy

Some dealerships use high pressure tactics that are very unappealing. Some salespeople will keep trying to focus on things like monthly payments, because that’s where they make their money. Some dealerships will focus on add-ons like undercoating, another money-maker. If at any time you are not being heard, you’re being pressured, or you’re being given pricing that’s way out of line with the research you’ve done and other quotes you’ve gotten, just thank the salesperson for his or her time and leave. There are plenty of other places to buy a car.

Do you have any tips for getting the best price on a car?

my Fusion

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11 comments

Melissa Chapman February 28, 2018 - 5:45 pm

I am the worst bargainer and when it comes to cars I generally get a bad deal. These tips are great for the next car I buy. I would like to try cars.com too when I am ready.

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Stacie February 28, 2018 - 5:56 pm

Awesome tips. It’s super important to think about the car you need and not about the car you think you need or you wish you needed. Learned that one the hard way. LOL

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Amy February 28, 2018 - 6:15 pm

We are saving for our next vehicle. We try to save a little each week. I think we are going to look to get a truck this next time.

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Kristine Nicole Alessandra February 28, 2018 - 8:12 pm

I read about Cars.com a few months back and I looked at their website. I just love the numerous resources this website offers. From pricing on new or used cars, or getting a quote for your current vehicle, to places where to buy parts! If we are going to get another vehicle, I will make sure we check cars.com first!

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Lisa Favre February 28, 2018 - 8:31 pm

I am definitely looking into getting a new car so this couldn’t have come at a better time. It’s always good to go into a dealership with different options in mind so that you don’t expect to walk out with the one model you originally thought of getting.

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AnnMarie John March 1, 2018 - 5:06 am

Those are very good steps toward getting a car. It’s really important that you know how much you’re earning and what you want in a car.

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pat.navymom March 1, 2018 - 7:53 am

Oasis or similar for history; Blue Book or similar for relative value; avoid new as it loses thousands literally as it goes off lot; avoid private.

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Claudia Krusch March 1, 2018 - 8:05 am

Those are great tips toward getting a car. It’s important to find out how much you’re earning and what you want in a car. It’s also important to do your homework, when getting the best deal!

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Jeanine March 1, 2018 - 8:10 am

My oldest will be getting a car in a year, so this is something we are talking about often and researching. This is some great info, will be very helpful!

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Carol Cassara March 1, 2018 - 8:18 am

It’s really important to know how much you can spend on your new car. Love all the tips that you mentioned! You could definitely use those when looking for a new car.

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Kiwi March 2, 2018 - 12:59 am

Im actually in the market for a car. These are definitely good tips for myself.

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