Buying a car should be an enjoyable experience, but it is often not as much fun as you would think. Many factors wind up ruining the experience as you have to worry about pushy salesmen and saleswomen, interest rates, credit scores, insurance, and so much more that can put a damper on your day out looking for a car.
The saddest part about this whole process is that many people will leave the dealership paying significantly more than they expected to for their vehicle. Whether it is that they are put into a vehicle that they didn’t actually intend to purchase, the interest rate is higher than the expected, or the payments are just a bit more than they had desired to pay, most people will leave a car they like but with a payment that may not work for them.
Getting the Car, You Want at the Price You Can Afford
What is important is to understand how to negotiate to get a price that works for you. This means you need to take on an attitude ready to do battle with the salesperson and the finance company they are working with. If you are looking how to negotiate a car purchase, here are some things you need to know.
First of all, it starts with the fact that you need to set a maximum amount of money that you can pay each month for your car. Consider that your purchase is more than just buying the car. You also have insurance to pay for it as well, which can range anywhere from $60-$200 per month depending upon the kind of car that you are buying. This needs to be calculated into the amount of money that you can be able to afford each month for your vehicle.
Also, go out and check to see what your credit score is. This is going to play a huge part in determining what the interest rate is that you can receive as well as how much money the dealership is willing to offer you and a loan. Know whether you have a score that is good, great, or needs some serious work. This can help you to see if you can even afford a higher value vehicle.
Now Get Ready to Deal
Once you have established what you can spend and know what your credit report says about you, it is time to look for your vehicle. Have an idea in mind of the kind of car that you want to get, and don’t be sold on something else. It is the dealer’s job to not only sell a vehicle to you but to try to sell you on something that is more expensive than what you were looking for initially. Keep in mind that these are men and women who are working on commission, so if they can get a bigger sale, it is to their advantage to do so.
In setting the kind of car that you want, make sure you are realistic about it. If you can only afford $250 a month, don’t think you’re buying some higher and SUV. This isn’t realistic, and less you are buying a used one with a lot of mileage on it. Know what you can afford so that you don’t disappoint yourself.
Don’t Be Afraid to Say No
The one way that you can be sure that you are likely to be cheated is if you are desperate to the point of having to have a vehicle. When the salesperson knows that you are in an extreme position, then you can be sure that he or she is going in for the kill. This means you have to be willing to say no.
What a lot of people forget when they go to buy a car is that the salesperson needs to make a sale as much as you need a car. This is their livelihood, and if he or she doesn’t make a deal that they aren’t making money. Use that to your advantage.
Don’t be afraid to haggle for a lower price. The truth is that you may not get it, but it doesn’t hurt to ask. Be reasonable about it, but a lot of times you can get $1000 or $2000 less on the vehicle you want only by being willing to walk away.
No matter what, if you do not get the terms and price that you desire than just say no. Keep in mind that there are plenty of other dealers out there and you’ll find a car somewhere that fits within your budget.