New car purchase could be time consuming, a lot of pressure, and full of car dealer's scam. Getting the best deal from dealer can be even tricky.
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Follow the next Ten Steps, you will buy a new car at a great deal with hassle free.
1. Pick the car model and options:Know your budget and understand your preference. Use Edmunds, Kelley Bule Book etc to study the car you like to buy. Read consumer reports and reviews to see if there are any problems.
2. Know the invoice price:
Use Edmunds, invoice dealers to find the new car invoice price. Even more, learn dealer's rebates and hidden incentives for different cars.
Remember, even you buy a car at the invoice price, dealer still make a good profit because of the holdback that most people are not aware.
3. Wait the best time:
There are two "best times" during the year to buy a car. The last 2 weeks of December is an excellent time for car buyers to buy a new car. Another good car buying time is July to October as new car dealers sell off last year's models at low prices to clear space for new car models.
Wait until Friday when all the car ads show on the local newspaper and look through them. Find the car you chose and compare it to invoice. This is where you can find rebate offers. Most likely you will find the price is below invoice on the ad (usually it is so you'll come in).
Also, there is no crap like 2 days left for car prices, The car price is either going to stay, or going down below that.
4. Find the email:
Find all the email addresses of the dealerships near you. Go to the model homepage to find out all the locations near you. Any good dealership has an email address and a rep that does internet communication. Just search on Google.
5. Email now:
Now email all of them (5-10 dealerships depends on your location) with what model you want, what options you want and that it must be brand new. Say that the cheapest price offered to you so far is (the newspaper ad price) and ask if they can beat it. Say you are just getting quotes from all dealerships around you.
There is an advantage to doing this compared to walking into an dealership. Talking to the dealer gives them a chance to see if you are rich, how you react to their price... etc. Also, it is easy than any walking or phone call.
6. Wait the response:
You will get responses that has their close to best offer. Because if they don't, they'll lose you to other dealerships that did. Do not call them right away, if more than one dealership has the same best price, you can do two things:
a. email them both saying if they can beat the other dealerships, you will go to them.
b. call them up and say if they throw in the carpet or other options, you will go to them.
Calling them would be a better choice, because it'll make them say "yes" of course. If they say no, you will just go to the other dealership.
7. Call your local dealer:
Give your local dealer the last try. Forward the other dealer's best offer to ask if they are willing to match the offer. If they do, you save your traveling cost and time.
8. Collect the price quota proof:
Make sure the price dealer gave you in the email is the price. When you get to the dealership, make sure they don't try to add on fees or try to keep the option fees in there.Usually never happens in a big dealership, but never know.
Even better, ask them to fax you the formal price quota with detail car model, option, color, etc. Bring it when you plan to see the dealer.
9. Shop around your finance:
Shop around the car loan yourself. Check your own credit report, usually a good credit score (better than 680) will give you a good chance to have a low APR car loan, and the rate at credit union is usually better than big banks. Before you go to the dealer, you should have the best finance quota you could get with you.
When you talk to dealer finance people, go directly show them what you have and ask them if they could beat it or not. That saves both of you time. Same strategies apply to extended warrantee if you plan to buy.
10. Ready to go:
Now you ready to go for the test drive, paper work, and meet your dealer. Everything is already settled, you should be relax, confident and positive.
Big congratulations to your new car!
Interested to more information and tips about new car purchase? you may want to visit Car Buying Tips.
