How to Beat the Car Dealer

Doing business with a dealer will require you to be fully prepared.  You need to be ready to play the game.  However, how will you be able to beat them in a game where they set the rules?  The dealers mostly win by netting the highest possible amount. They have been doing this transaction for years, and a first-timer will find it challenging to defeat them in this game.  Every point in the contract needs to be enthusiastically negotiated and carefully examined.   While it may be true that getting the best deal is one of the determining factors of the game, the best thing to do is to be fully informed before you even enter the car market.  It will help you maximize your money in the entire process.

 

Getting the Loan

 

How to Beat the Car Dealer

If you are borrowing the money that you are going to use to buy the car, your best option would be a car loan.  Around 80% of the buyers are acquiring the car refinancing program of the dealers.  It exposes their weakness to every aggressive salesperson.  Most dealers have managed to form a close relationship with the different financial institutions in the area, and they will earn for every referral they make.  When getting a car loan, you need to think about two essential steps; checking your credit report and shopping for the loan.  Try to cut the dealer out of your car loan, which can save you hundreds of dollars. If possible, you should already apply for a car financing option from a separate lender or bank before you visit the dealership.

 

The Price

 How to Beat the Car Dealer

After preparing the finances, it is time for you to think about the price.  Before you rush to a dealer's car lot, you need to conduct quick research about your prospected car.  There are ways to determine the amount of money the dealer paid to acquire a particular vehicle. You need to remember that your price offering should be lower than the invoice price (unless it involves the law of supply and demand).  If they are giving you a difficult time, you can always go to the next car lot selling a similar car.  Just keep shopping. Also, do not just simply look at the vehicle's market value but also at car ownership's total value.

 

Warranty

 How to Beat the Car Dealer

When you buy a used car, and it doesn't come with a warranty, the dealer may offer you an extended warranty but ignore his offerings.  He will provide you with a paper that will be worthless should any bad thing happen with your car.  If it is a late model, they may offer you a warranty covering repairs.  You need to ensure that the original warranty has already been used up.   Remember that warranties will only cover the parts that rarely break.  In the end, it is still not a good deal.

 

These dealers are in the industry to create money; you need to be aware of that.   But it is your job to make sure that they will be getting the least possible amount.  Be prepared to walk away when you think you are not getting what you deserve. You have a better chance to land on a great deal for your prospected car by following these tips.

No comments:

Post a Comment