Auto Loans 101
Step 3, Part 2: Time to Make a Deal
Page 9 of 17
Get Your Money’s Worth
It’s finally time to walk into the showroom with all the information you need to make a decision. If you’ve followed our advice, you’ll be confident and ready to begin the negotiation process.
Not all dealers are deceptive or dishonest and many do not tolerate such practices. However, it is the dealer’s job to come out of the negotiations on top so you should prepare for the worst and hope for the best. Here are some tricks for getting what you want at a fair price.
Know what the dealer paid
When you go shopping for a car, take all of the research you’ve compiled from the resources in this module. Also, visit TrueCar.com where you can research what’s a fair price for a specific make and model in your area.
In addition, inform the dealer that you know what the dealership paid for the vehicle. This will let him or her know that you’ve done your homework.
Keep your emotions in check
Falling in love is a hard thing to hide, but if the dealer knows how badly you want a particular model or feature, you’ll have less to bargain with. Keep a straight face and don’t let the shiny chrome wheels cloud your judgment.
Hold off talking trade-in
Don’t start talking trade-in until you’ve settled on a price for the car you’re buying. When you do start talking about your trade-in, bring your old car in with a clean interior and exterior. You can’t convince the dealership that you value your car if it’s a moving trash can.
Walk the walk
Until you’ve signed on the dotted line, don’t be afraid to walk away from a deal that isn’t satisfying you. Most cities have plenty of dealerships offering the makes and models you want so don’t feel locked into a negotiation.
Stash the cash
If you’re asked to make any sort of a deposit on the vehicle while making your decision, be sure to pay with a credit card. It can be tracked and verified, unlike paying with cash. You want to ensure a refund if you walk away from a deal.
