Purchasing a new vehicle can be intimidating. After all, how can you be certain you’re getting the best deal possible? Luckily, there are a couple of tips to keep in mind when you walk into your local car dealer to purchase your new ride. Following these tips will help ensure that you keep cool, calm, and collected so that you get the best deal on your next new car, truck, or SUV.
Know Your Financing
Knowledge is power, especially when you are purchasing a new vehicle. Before you head to your local car dealer, know your financing options. Have an understanding of your credit score, what rates you should qualify for, and most importantly — have an overall budget of how much you want to spend.
When you have a solid understanding of your finances, you’ll be able to better negotiate with the sales team. Even if you don’t have the best credit score available, knowing what you bring to the table can be a great tool to have on hand during negotiations.
Shop at Multiple Car Dealerships
Prices change from dealer to dealer, even if they’re right across the street from each other. When you’re shopping for a new vehicle, compare prices between different dealerships to make sure you’re getting the best quote possible.
If you get a competitive quote at one location but want to work with a specific car dealer, always ask for a price match. More often than not, the dealer you want to work with will match your quote, so they get your business.
Shop During the Right Time of the Year
Specific times of the year are naturally better for car buying than other times of the year. As with any business, you should keep an eye out for quarterly and annual deals. The holidays can be a great time to snag some brand specials, especially if you’re looking to shop in the luxury market space.
Other car dealers, especially local ones, typically run specials throughout the last week of the month or quarter as well. If you know you’re going to be purchasing a vehicle in the coming year, keep an eye out on these specials so that you can gauge when the best time to buy will be.
Don’t Get Caught Up In the Emotions
Purchasing a new vehicle can be a lot like purchasing a new house, there’s a lot of emotion behind it. After all, it is a big purchase, so it’s understandable to feel an emotional connection to this milestone decision.
It’s important to remember, however, that emotions can get in the way of getting a competitive deal. Keep your eyes focused on the vehicle itself and its value, and steer clear of traps sales teams might use to trigger your emotions. For example, if you have your eye on a specific vehicle, you might be tempted to shop for higher trims when a lower trim might better suit you. keep FOMO at bay and you’ll find yourself getting a competitive quote on your new vehicle purchase.
Finally, Take Your Time
Don’t feel rushed into purchasing any one vehicle. Take your time, do your research, and go on test drives. As you explore different options, you’ll get a better sense of which vehicle is best for you and what you’re comfortable paying for it. With a milestone purchase such as a new vehicle purchase, it never hurts to take your time, so don’t feel pressured not to!
