Four Tips on Negotiating the Price of a Car

Going to the car dealership can be a daunting experience for those who don’t have much experience with negotiating and buying things by haggling down a price. However, knowing a few things before walking into the dealership can help you get a better price on the car you want to buy. Consider these negotiation tips so you can come out of there with a great deal on the car you want.

Gather the Information
In any negotiation situation, information is key. Before you even step foot in the car dealership, you will want to do a few hours of research about the particular vehicle that you want to buy. Start by searching local dealerships to see who offers the lowest price. This is handy if you have a dealership of choice. Take the ad to your dealer and see if they can match that price. Also, look up the wholesale prices for the vehicle you want to buy so you have a better idea about what the dealer paid for it. Bring these notes with you and pull them out when discussing the price and interest rates with your dealer.

Eat Before You Go
Negotiating on an empty stomach is never a good idea. Before you go to the dealership, have a good meal and dress comfortably (but not too comfortably). Wear a casual outfit and be well rested so you will be in the correct mindset for negotiating.

Know Your Credit Score
Your credit score will be one of the most vital determining factors to the auto loan rates that you receive. The better your score is, the lower the rates will be and the less you will be paying on your auto loan in the long run.

Bring a Calculator
The price of the vehicle isn’t the only thing that goes into the amount you are going to pay. You will be paying interest on the price of the vehicle as well as taxes, license, and plates. If you have a calculator with you, you can get a hard figure that shows how much you will have to pay. You can work out the monthly payments and decide on financing terms much easier because you will have the numbers in front of you. You can determine how much your monthly payments will be based on the interest rate and the length of the loan terms. You can also see how much you will pay over the long run based on the length of financing and other factors.

Use these tips when visiting an auto dealership and you will stand more of a chance of driving away in the car you want and feeling good about the price you paid for it.