Review the invoice and properly calculate the pricing before talking with the car dealer about a deal. The invoice price can sometimes be off by a substantial amount. Take your time when you are looking for a vehicle and select the exact vehicle that you desire; be sure that the extras that you desire are in the package and if there are extras that you do not desire then be honest with the salesman and ask them if they have a vehicle with less extras. They may need to have another car dealership send over the actual vehicle or car that you are interested in. Reviewing the invoice properly to insure that the total is current and to be sure that you are not paying for extras that you are not interested in can save you thousands of dollars off of your car purchase.
Step Two: Get Quotes from Other Dealers
After completely step one and determining exactly what you are looking for then it is time to begin getting quotes from dealers. You can get free quotes online or you can visit several dealerships in your area; you may have to travel 45 minutes to an hour to visit several dealerships. A substantial savings is available through competitive pricing. If the dealership does not have the exact car or vehicle that you desire then they will call around to locate that vehicle for you. Avoid talking payments with the salesman; just talk about the bottom line on the price.
Step Three: Financing
Your financing should not be limited to the dealership; that is not the only place that you can receive financing. The dealership may not be able to give you the best deal on financing. Check out your credit report to see if you qualify for a special low interest rate. Contact several banks and ask them for a quote on a loan. Credit Unions offer excellent loan options as well.
Step Four: Get the Best Price for your Trade-in
Do not discuss your trade-in or financing until after you have gotten the best ticket/invoice price on the car or vehicle; then you can ask for the best price on your trade-in. Be sure to check the blue book value of your trade-in beforehand. You may find that you can get a better price by selling it out right via the internet or through a community advertisement. Fact to know: the trade-in value of your car will reduce the taxable amount of your car purchase which will add to the value of the trade-in as well.
Step Five: Select the Dealer
Once you have completed the above four steps you can go ahead and select one of the dealers that you have gotten your best pricing from and you can also go ahead and make the purchase. You will know ahead of time which banking facility you will be using for your financing so the interest rate will not be a variable factor in the payments. If you need to sell your car outright rather than do a trade-in you may want to do that before sitting down with the dealer for the final paperwork. Doing your homework ahead of time may seem tedious but it is well worth the savings. Paying an extra 2,000 for your new vehicle could equate to an extra 6 months of payments when you add in interest. Enjoy getting the best deal possible on your car purchase.