There’s something exhilarating about buying a new car. Most of us love our cars and use them in almost every aspect of our life. We take pride in our vehicles because, in a way, they are an extension of ourselves.
However, when buying a new car from a dealer or private seller, you must push for a fair price. Most sellers are looking to make more than what the car is worth. And unfortunately, vehicles are infamous for rapid depreciation.
However, you can also use this to your advantage. We’re here to teach you how to negotiate when buying a car. Keep reading for four simple tips to get a better deal.
Know the Value of the Vehicle Before Talking to the Seller
First, find out what type of vehicle you’re looking for before visiting the dealer or reaching out to a private seller. Do some research online to find a few vehicles you’re interested in.
Then, based on the information available to you (make, model, mileage, year, condition), determine the fair market value of that vehicle. For example, here’s a guide for buying a Honda CRZ. Then, when you negotiate car prices, you’ll know exactly how much the vehicle is actually worth.
Test Drive the Vehicle
Next, when learning how to negotiate when buying a car, you must get to know the vehicle. We recommend taking it on a thorough test drive. This does not mean simply driving it around the block.
If the seller or salesperson wants to come with you, let them. Before driving, check all of the electrical components, driver features, and entertainment features. While test driving, keep an eye on the gauges and get a feel for the car.
Get the Car Checked Out by an Independent Mechanic
Next, try saving on a car by getting it evaluated by an independent mechanic whom you trust. They can point out any concerning issues or necessary repairs that will give you leverage during negotiations.
If the seller is hesitant to allow your mechanic to inspect the vehicle, it might be a bad sign. One of the most important car buying tips is knowing when to walk. If you feel like the seller is hiding something, now is that time.
Be Confident, But Not Too Eager
Finally, learning how to negotiate when buying a car means putting up a confident front, even if you’re feeling timid. Don’t let a private seller or dealership salesperson intimidate you or push you into making a decision. The more insecure you appear, the more leverage they’ll have.
Furthermore, let them know you’re willing to walk away and continue to push for a better deal. If you’re too eager, they’ll know they can push you around.
Lastly, remember that the sales price is not the only thing you can negotiate. For example, you can request:
- New tires
- Waved fees (dealership fees)
- A higher trade-in value (for dealerships)
- And more
Determine your maximum price before visiting the seller and stick to it.
Do You Know How to Negotiate When Buying a Car?
As you can see, there is a myriad of car negotiation tips to help you save money. However, learning how to negotiate when buying a car is primarily about being informed and confident. Follow the four tips above for the best results.
And if you want more sage advice or insight into saving money, don’t go anywhere without taking a look at some of our other articles. Our blog is full of content created to help readers like you be more successful.