A car is a major purchase, and you should do everything you can to not only make the best decision, but also to get the best price. No matter if you're in the market for a brand-new car or a pre-owned vehicle, ask your dealer the right questions to get the best deal. Some dealers don't want to hear certain questions, but asking them may help you save money.
New Vehicle Questions
If you're in the market for a new vehicle, ask lots of questions about the features of the vehicle. Remember, as soon as you drive it off the lot, it begins to depreciate, so you'll want to ensure you've made the best choice for your needs. Rather than letting the dealer "sell you" on all the bells and whistles, ask him which features are standard and which ones are options. You can request to see a written list of all the options, along with their fees, in order to compare it with other vehicles. Ask if you can remove pricey options, such as expensive wheel rims, so you can lower the cost. Test the salesperson's knowledge by asking him to compare his vehicle with a similar one from a different manufacturer. Ask questions about the car's safety ratings and features as well.
Pre-Owned Vehicle Questions
You might be able to save thousands of dollars purchasing a pre-owned vehicle that's only a year old. However, you need to ask questions to ensure you're not getting a lemon. Ask the salesperson about the dealership's specific reconditioning processes, as well as their inspection standards. Ask questions about the chosen vehicle's past, such as whether the vehicle was ever in an accident, has ever had body work or was ever in a flood. These types of potential issues may not be obvious so asking questions can help determine if the vehicle is in good shape. Ask the dealer about the previous owner, including exactly how many previous owners there was, as well as what the car was used for.
Warranty Questions
Before you drop a grand or more on an extended warranty, ask specific questions about that particular warranty. Ask what is covered in the warranty and if coverage changes over time. For example, some warranties only cover the car bumper to bumper for the first 12,000 miles. For the remaining warranty time period, only manufacturer recalls or obsolete items are covered. Ask if all maintenance and warranty work can be done at the dealership where you bought your car or if you would have to drive to another dealership that is far from your home.
Price Questions
While most American car dealerships clearly list both the invoice price and manufacturer's suggested retail price (MSRP), they do not tell you what the dealer holdback price is. According to The Negotiation Academy, this particular price is how much money the dealer earns from the manufacturer when they sell a vehicle. It is usually around 3 percent of the overall sticker price, which means that the dealer has a much lower cost than they would want you to know. Ask what it is, and then you can use that information during your negotiations.
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