New Car Price Negotiations – Want the best deal? (Of course yes)

So you have decided to buy a new car. This is an exciting time, but new car price negotiations can be scary if you’re not prepared. The good news is, with a little planning on your part, you can get the best deal on that new car.

The only time you should go to the car dealer without planning ahead is when you first start looking for a car. Make sure the seller knows up front that you’re “just looking.” Walk around the lot, check out the cars, take notes, and start to get an idea of ​​the best car for you.

After you’ve visited several car dealerships in the “window shop,” it’s time to do your research. By now you should be pretty clear about the car you want to buy. Now research online what the dealer probably paid for the car. Remember that the invoice price is not the price the dealer paid. A good price for you should be between what the dealer paid for the car and the MSRP (Manufacturer’s Suggested Retail Price).

This is the time to also decide how you want to finance your new car purchase. Most dealerships offer financing, but it may be best to seek outside financing before dealing with the dealer. Check rates and terms with your bank or credit union. Get a quote before going to the dealer. I know it seems easier to get financing from the dealer, but in the end this could cost you more money.

It’s a good idea to check the value of your trade-in if you plan to bring your current car into the negotiations. But remember not to discuss your trade-in with the dealer before reaching a final price for your new car.

Your research trip to car dealerships should have given you a good idea of ​​which dealership you want to do business with. Go to the car park with confidence, and always remember that if you feel negotiations are not going well (trust your gut), you can always leave. But always leave on good terms, as this may have been the best offer you ever received and you may want or need to return.