How To Buy A Car Part 3 - Buying Day

By Devin Almonte

Buying Day Tips

1. ​The first thing a dealership will ask you is if you are financing and if you have a trade-in. Do not give them this information even if you know the answer is yes! They will use that as a weapon against you in the negotiation process.
2. Tell them want to set the price first! Use TrueCar.com to secure a savings certificate online. Certified dealers must honor these certificates, so you know ahead of time exactly what you will be paying. TrueCar.com is amazing and gives you a reasonable price for the car you are interested in purchasing
3. Once the price is set, then you can discuss trade-in. Since you already have several appraisals on your trade-in, know what your bottom line is and what you are willing to take for your trade-in. If you want to stay with your highest appraisal, then do that! Be prepared to walk out if they say they can’t meet that. They will gladly give you every excuse in the book as to why your trade-in is not worth that much. Don’t listen to the noise! And they may let you walk out. But trust me, they will be calling you in a day or two to come back in, if there isn’t already a message for you by the time you get home!
4. Now financing. I’m not a fan of leases, but they do work for some people. And dealerships love leases. I’m not going to discuss lease options here, but only the full buy. You’ve shopped around for financing. Know what terms you are willing to go with based on your research. Don’t let them dictate this for you. They will gladly add 4% interest to the current interest rate just to tell you it was the best deal they could work out given your credit, given your money down, etc. Don’t listen to the noise!
5. Take the kids. Yes, you heard that right. Since you are so armed with your research before stepping into the dealership, it should be a piece of cake. Having the kids run around the dealership like maniacs won’t bother or distract you, but it will bother everyone else in the dealership, including other potential customers! And they will want this deal to go very quickly so they can get you and your maniac kids out of there as fast as possible! You know what you are going to pay for the new car. You know what interest rate is okay for you, what value is right for your trade-in. If they can’t meet your terms, then you just leave and head to the next dealership.
6. Bring your computer. Don’t be afraid to use it. Put it on the desk and pull out your spreadsheets and comparisons with other dealerships. This terrifies them! One salesmen asked me what I was doing and I told him I was comparing his prices, his invoices, ratings, reviews, hidden costs and so forth. I even had him look at it with me as I plugged in numbers. He was miserable! Remember, you are offense. They are defense.
7. Best time to buy. Summer is a great time to buy as well as the end of the year. But I prefer the summer. Go at the end of the month in either July or August. They have to move inventory off their lots, so they are more likely to give you a deal. 

​Hopefully, at this point, you will have your new car at a reasonable and fair price! And you will be so happy that you spent the time to research. It can save you a fortune. It’s a lot of prep work, but you won't regret spending the time doing your homework when you see how much cash you can save.
 
Helpful sites:
www.bankrate.com
www.edmunds.com
www.truecar.com
www.kbb.com