Car buying is like a big haggling game that you play with the car dealer. In this article, consumer advisors talk about how you can win this game. Here are some of the highlights:
- Research on the price of the car before you visit the dealer. Knowing the invoice price and the going market price will give you a better idea of how much your dealer is marking up the car and give you a better bargaining position.
- Take the emotions out of haggling, and buy your car online. If you are not facing the dealer in person, you will feel less pressured.
- If you have a car to trade in, get a quote on it from Carmax and see if your dealer can give you a better price.
- Before you finance your car through the dealer, get a loan preapproved from another financial institution. Then you can compare the two financing plans.
- Take advantage of all the rebates that you qualify for.
- Do your car shopping at the end of the month when your dealer has to meet his monthly quota.
- If the dealer is not offering you the deal that you want, walk away. There is a good chance that they will go after you with a better deal.