You can save thousands of dollars on your new car purchase by taking the time to research vehicle and pricing information before you arrive at a dealer. Pricing and discount offers are readily available online at the manufacturer's website. Learn as much as possible about the vehicle you want to buy to prevent spending unnecessary cash at the dealer.
Sticker Price
The manufacturer's suggested retail price is affixed to each new car window. These window stickers list the car's specifications, safety ratings and price with added features. Some new car dealers add an addendum sticker next to the window sticker, which serves to increase profit. Know your vehicle's MSRP before you go to the dealer's lot so you can easily identify bogus fees or vehicle add-ons that increase dealer profit. Go to the manufacturer's website to virtually build the vehicle you want and print out your results. Bring the price sheet with you and ensure your negotiations begin at MSRP, not addendum price.
Manufacturer Offers
Learn which discounts are available to you. This way, your salesperson does not convey that you're getting a "deal" when you're actually paying the price you should. Manufacturers advertise discounts online. You can review interest rate offers, rebates and lease offers. Determine the vehicle's correct starting price with applicable discounts. For example, if a new vehicle costs $25,000 and the manufacturer offers $3,500 off in rebates, your vehicle's price is $21,500. Unless you can negotiate a larger discount, this is the amount that all buyers should pay for the specific vehicle.
Vehicle Information
Research your vehicle on your own before you visit a new car dealership. This way, you can avoid spending too much money for a vehicle with options that you don't need. For example, if you want a sunroof, your dealership may have one on its lot that has unnecessary features, such as leather or a navigation system. If you research the vehicle online, you may find that you can get a base model with a sunroof, which can likely save you thousands. Research standard vehicle features and additional add-ons so you know which vehicle you want to test drive when you arrive at the dealer.
Additional Pricing Considerations
Even after carefully researching price and vehicle options, you can still spend more money than you intended to at a dealership. Expect to visit the finance office of the dealership to sign your purchase paperwork. During this stage of the purchase, the finance manager will offer you an array of aftermarket items, such as an extended warranty or gap insurance. Prices in the finance office are also marked up, so decline any offers until you can further research pricing.
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