How To Get The Best Deal When Buying A New Car
Are you looking to buy a new car but want to make sure you don’t get taken for a ride? On the price we mean. Price is most often the biggest sticking point when it comes to this major buying decision. Experienced brokers from Credit One, Australia’s best rated finance broker have put together some handy tips. Here are their six top tips on how to get the best deal when buying a new car.
1. Do Your Research First
Before heading to the dealership, spend some time looking through car classifieds websites. If you know what car you want already, you will be able to search for it in these websites to get an idea of pricing.
Take note of exactly what you get for the listed price. Is it a new, demo or used vehicle? Which model is the car?
2. State Your Price
One of the best ways to ensure you get the price you want is by letting the seller know straight out of the gate how much a vehicle is worth to you. If you go in asking for their best price you may find it is nowhere within your budget.
Whereas if you come in with a starting figure most dealers will be much more forgiving on the set cost. Always make sure you do your research first. Check out what the standard drive-away price is on the model you want and ensure you go in with a realistic mind-set. This brings us to point 2…
3. Be Realistic
Be realistic! About the overall price and your weekly repayments. Let’s be real, most new car purchases are done via finance so it’s always best to think about how weekly, fortnightly or monthly repayments fit into your current finance structure.
You can use our online calculator to calculate how much you can borrow. Consider any changes you are willing to make to your lifestyle in an effort to achieve a higher repayment amount.
Again, if you do your research and have an idea of the most common cost of your desired vehicle, you can enter negotiations with a more realistic mindset toward the final outcome. Before visiting the dealership, get pre-approval on your finance so you have extra bargaining power.
4. Shop At The End
End of the month, financial year or calendar year. Shopping for a new car at these times can help you bag a much better bargain than entering negotiations at another time. Most dealers will have targets to meet, for the month, quarter and even year.
Not to mention the incentives from manufacturers for selling a certain amount of vehicles. Plus the rollover of models at the end of each year often leaves dealerships with an excess of stock they are trying to sell to make room for newer models. If you shop at these times you may find your dealer is much more motivated to sell and can bag you a better bargain.
5. Be Interested
Be legitimately interested in your desired car. Don’t go in with “an idea” of what you want. Know what you want. Know your specs, your average pricing, your mileage, your included and add-on extras.
Someone who knows what they want and are motivated to buy will usually get a better price than someone who wasn’t quite sure what their dream car is and is easily swayed.
Also, don’t pretend you’re not interested hoping this will lower the price. Be assertive, show your interest and request a price from the get-go. This will show the dealer you’re serious and keen to buy, making them more likely to do good work on getting you a better deal.
Thinking of buying a new car? Read our complete and comprehensive car buyers guide here.
6. Forget The Add-Ons
One way some dealers like to make a bit of extra cash on a settled deal is by adding on extras. Keep your eyes open and be aware ahead of time what’s included, what’s not and what else you might want or need when negotiating your price.
Don’t let things like extended warranty, rustproofing and window tint get snuck in at the end. If you want some additional extras, make sure you discuss them earlier in the negotiation process and ensure they’re included in your overall quote. If there’s an added extra you absolutely must have, talk about it with your dealer to make sure you include it in your best price offer.
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