When purchasing a used car, most consumers will assume that there is some room for negotiation in price. This is also the case when buying a new car from an auto dealer. Whether it’s including extra accessories or getting a better deal on in-house financing, asking for discounts can pay off in many cases. However, to successfully negotiate a discount with your auto dealer, you’ll need to do a little research first and keep the following tips in mind.
Look at all the Options
Once you have a particular make and model in mind, you’ll want to take a closer look at the different features, specs, and trim levels before you enter the dealership. You can do this by looking carefully at listings sites or even at the manufacturer’s website. For example, if you look at these, you can compare prices on models like the Pulsar or X-Trail from a variety of auto dealers, in multiple trim levels. As you compare options, you’ll notice that choosing all the extra gadgets and features can nearly double the sticker price in many cases. If you can choose a less popular, downsized package you’ll be in a better position to negotiate a deal than you would be if you chose the flashiest trim level with the trendiest paint job. Doing your research and knowing your options can save you a bundle right off the bat.
Choose a Model at the End of its Run
A good trick to getting a great deal on a new car is to look at models of cars that are about to be replaced at the dealership by a new and improved upgrade. If you read up on the latest car news and know that a particular 2013 model is about to be replaced by a more glamorous option for 2014, chances are good that the dealer will be eager to get rid of these older models. They may be more willing to bargain with you, to make way in the showroom for the newer models. Dealer demos can also be found at great discounts. Although they have a few miles on the clock, they’re still almost new but will have already depreciated in value.
Choose the Right Time to Buy
Dealer discounts, rebates, and special offers will come and go throughout the year. If your local dealer doesn’t have any special offers on at the moment, you may want to wait a few months to see if the situation changes. Some of the best times to buy a new car are around the holidays, when not as many consumers have the cash flow to buy a big-ticket item like this. At these times, dealers will offer steep discounts to try and lure in new business.
Find the Right Price for your Used Car
Many new car buyers automatically trade in their old model at the dealership to lower the sale price of the new vehicle. Yet you may not always get the best deal this way. It’s worth shopping around first to find out what your used car is currently going for, as in some cases you could make more money selling it privately than you would trading it in for a new model.
There are many benefits to purchasing your new car through an authorised dealer, including safety and practicality. Yet even when buying a brand new car, by doing your research and biding your time you may be able to negotiate a lower price without too much hassle.