Searching for a new vehicle can often times be a daunting process. Searching for the vehicle you want while getting a great deal may seem hopeless. However, we have provided a small list for improving your chances of getting the car of your dreams, at an affordable price.
Best Time to Buy a Car
Purchasing a new car at the right time can save you a significant amount of money. When you do your research and understand how car dealerships operate, you can shop when they are most anxious to close sales.
- Time of day to shop: Dealers are willing to negotiate strong deals during the later hours of the day because most sales professionals are thinking about going home. However, if you are shopping in the evening hours, don't allow the sales person to pressure you into making a deal you aren't fully comfortable with.
- Time of month to shop: Salespeople often have monthly quotas to meet. If you shop at the end of the month, dealers and salespeople may be willing to negotiate to a lower price, rather than risk losing a potential customer.
- Time of year to shop: The best time of year to shop for a vehicle is early falls. Dealerships are getting ready for new models to come in and they are looking to clear out space on their lots for new inventory.
Check the Car's History
Obtain a vehicle history report and have the car inspected for any damages that may have occurred, prior to your ownership. Vehicle history and inspection reports can provide registration records and any major accidents that the vehicle has been involved in. The cost of a vehicle inspection report is relatively low, and it could save you from an expensive repair bill in the future.
Don't Bring Up Your Trade-in
Do not discuss a trade-in until you have settled on the final price of your new vehicle. It is wise to research both the value of your old car, and of the car you will be purchasing. You will, most often, get the best price for your old vehicle by selling it yourself. The car dealership's only benefit in taking your trade-in is that it is convenient to you.
Tell the dealership you are shopping around
Make it known to the salesperson that you are shopping at other dealerships. Car salespeople will try to persuade you that their price is the lowest. If you come in with quotes, spreadsheets and checklists from other auto dealers, they may be more willing to negotiate their price, rather than risk losing out on a deal.
Take your time
Don't let the sales person pressure you into making a deal you cannot afford. Dealers are likely to fib about the "special deal" or "limited time offer" they tell you about. A good salesperson is more concerned with closing the deal than scheming you out of money. If you feel pressure from the salesperson in any way, there is a good chance that they are not acting in good faith. Stick to your budget, and don't settle for anything that you can't afford.