When dealing with a car dealer, you should always keep in mind that they know their job well and you should know a proper way of dealing with them to get the best deal out of their pocket. Some of the important points that will help you in dealing with a car dealer are discussed here.
Make sure that you are well prepared
If you are planning to buy your dream car, you should collect ample information about it starting from the vehicle type like hybrid or electric, or the features that you want. You should also determine whether you want performance, fuel efficiency, or added power in the car you wish to buy. You should also find out the carâs True Market Value along with the dealer price and the invoice price as well. Deciding the budget in advance will also help you get the best deal as per your requirements from a car dealer. If you are specific with your requirements, you will not be confused when a car dealer throws different options in front of you.
Do not start first
Let the car dealer put forward the options in front of you, as this can provide you a chance to crack a good deal. Sometimes, when you blurt out all your expectations, the car dealer might not talk about other good bargains. Take advantage of the growing competition, as the car dealer might provide you the best deal to bowl out his competition. Sometimes, letting the car dealer offer his quote first is a good idea, as this will give you more space to negotiate the deal. If you mention your maximum budget in the first instance, the dealer will take advantage of this, and will not offer you a deal below that amount. The same tactics prove worthy regarding your personal information. Do not give more information about yourself to the car dealer except of what the dealer asks for, as salespersons are trained in tailoring their tactics according to the kind of customers who approach them.
Do have a budget but donât mention it directly
It is good to determine the amount that you can afford to pay for a new car, but if the dealer asks this question, it is better to answer it indirectly. The leverage of negotiating lower than the budget will vanish if you give it out to the car dealer beforehand. While determining your budget, you should review your fiscal position and figures, and then make out how much can you spend on a car. This will also help you decide whether you can afford a new or a used car, and then you can deal with the car dealer accordingly. If you keep the budget to yourself, you will be able to negotiate the offers and can make counteroffers devoid of any calculation while you are dealing with a car dealer.
Get finance beforehand
This is another way to get a good deal from a car dealer, as the dealers often make a lot of profit out of financing. Therefore, if you arrange finance for a new car before approaching a car dealer, it will eliminate the profit made by the dealer and help you save money at the same time. You can easily obtain auto loan from an accredited lender and then move ahead with purchasing your dream car from a dealership. If you have done a little research about different dealerships, it will help you at this point of time. If you have financing before you approach a dealer, it will give you the upper hand. Finding better terms and rates with a lender prior to moving towards the negotiation table will help you skip the financing part with a dealer completely.
Be friendly and determined
Being friendly does not mean that you should give away to what the car dealer wants you to do. Instead of being persuaded by the car dealer, you should try to be firm on your point, but in a friendly manner. Learn to say âNoâ to the things that are not important to you. This will help you escape from the sweet talk that car dealers are good at. Being friendly helps to negotiate the best price from a car dealer, and this will prevent you to rush into a decision without considering all the options available to you. You can also get all the information and facts from a car dealer in this way. However, if you try to be abrasive towards a car dealer, it will be very difficult to make a deal work for you. Do not show over enthusiasm and excitement on learning about a good deal. Instead, you should delve deeper into the details to find out whether the deal is profitable or not.
