Search and compare to obtain the best possible price comparing the models and estimates published in the advertisements and dealers’ salesrooms. To compare prices, you can also contact car purchase services and car buying agents.
Prepare to negotiate the cost of the vehicle. Dealers may be willing to haggle over their profit margin, which is often between 10 and 20 percent. In general, this is the difference between the retail price suggested by the manufacturer, also known as MSRP, and the invoice price.
If the dealer does not have the car you want to buy in stock, consider ordering it. This may involve a delay in delivery, but the vehicles that the dealer has in stock may have some options that you do not want – which may increase the price. But dealers usually want to sell their inventory quickly, so if the dealer has a car that suits their needs, they may be able to negotiate a convenient price.
Financing your new car
If you decide to finance the purchase of your vehicle, know that the financing offered by the dealer may not be the most convenient, even when the dealer contacts the provider on their behalf. Establish contact directly with the loan entities. Compare the financing offered by the lenders to the funding provided by the concessionaire. As the loan offers vary, search for the best terms, compare the annual percentage rate (APR) and the duration of the loan. When you are negotiating the financing of a car, do not focus only on the amount of the monthly fee. The total amount you will end up paying will depend on the price you negotiate for the car, the APR rate and the duration of the loan.
Sometimes dealerships offer a meager rate of financing for some cars or specific models, but they may not want to negotiate the price of these vehicles. It is likely that to get special interest rates, you will be required high down payment. Under these conditions, you may find that in some cases you may find it more accessible to pay higher financial charges on a car that has a lower price or buy a car with a lower down payment.