Negotiate the Best Deal
When purchasing a new vehicle, dealerships are expecting you to negotiate with them, so don’t be scared. The sticker on the windshield isn’t always the bottom dollar that a dealer will take for a vehicle, opening the door to a win-win compromise.
There are ways to negotiate in a respectful, non-contentious manner. The key to a favorable outcome is to never reveal your price first. For example, if your salesperson asks you how big of a payment you can afford per month, it’s time to turn the tide of the conversation.
Check Prices of Multiple Dealerships
Chances are that if you’re in the market for a new vehicle, you have done your research and found the best prices in your area. This knowledge can give you an advantage when it comes to negotiations.
If you explain to your salesperson that you found a similar vehicle for a better price at the dealership down the street, it’s likely that your dealer will come down on the price. Research can be your best friend when it comes to making a deal.
How Much Can You Expect to Save?
After you’ve done your research and discovered that most of the dealers in the area are asking for nearly the same price for similar vehicles, you may be asking yourself if negotiation is really worth it.
The experts at Edmunds.com claim that a strategic negotiation can save you up to $2,000. That’s a big chunk off the bottom line that can lead to lower monthly payments and total interest charged.
More Than Just Lower Prices
When negotiating for your new vehicle, remember some extras that your dealer can throw in to ensure a better deal. Most new vehicles come with a solid warranty through the manufacturer, but consider asking your dealer if they offer an extended warranty.
Try to convince your dealer to offer more warranty or broader coverage to sweeten the deal. You never know if it’s a possibility until you ask.