How To Get The Best Deal On A New Car

The best way to save money on a new car is to start with research. If you want to save the most money on a new car look for the rebates and special financing incentives such as 0% or 0.9. Sometimes it is better to get your own financing through a credit union and take the rebate. It’s pretty simple to do the math on a finance calculator for auto loans to find out how much interest you will pay on a loan and compare that to a rebate. Sometimes the amount of interest you will pay May be less than the rebate and you can always pay the car off early to save even more money on the interest. Remember the interest is only based on the time you borrow the money so if you pay extra and pay it off early you end up paying less interest. As far as getting the best pricing on a vehicle there are a few things to keep in mind. Number one look for vehicles that they have an Overstock of. For example if you’re looking at a Toyota Camry the dealerships may have an abundance of the SE model but they only have a few XLE Toyota Camry hybrids which means that they will not give you the same discount on the ones they have fewer of. However if you want all the extra bells and whistles you will pay more and get less discount but you get what you want. So it really depends on what is more important to you. Same thing with the Tacoma trucks you will pay a lot more for a Toyota Tacoma TRD Pro then you will a regular base model Tacoma and they will mark up the pro where they may give you a discount on the ones they have plenty of. Negotiating on a car takes a lot of time and you can cut to the chase by using resources such as TrueCar or a costco pricing program. Once you get those quotes, look at other dealerships that are selling a lot of cars and you can tell this based off of how much inventory they have a dealership will sell roughly 30% of their new cars they have in stock each month. If a dealership has a thousand new cars in stock then that is a good sign because that means they sell at least 330 cars a month. And when you’re looking at a used car look at how many used cars they have in stock because they typically sell 50% of those. When the dealership sells a lot of cars they make a lot of profit into keep the manufacturer happy they have to hit quotas which means they will discount their volume leader cars. These are in the cars they have the most of and usually they get a kickback from the manufacturer to sell a certain amount. Then you want to take the best quotes you’ve gotten so far and present an offer that is in your favor. Try to keep it reasonable so the sales people take you seriously and be prepared to buy it if they are willing to accept your deal. You can try to shop around your deal if they accept it but the biggest problem you will run into as if they don’t have the car in their inventory and you try to negotiate on a deal at another dealership for a car you’ve already negotiated the price on at the dealership that has it. They will know because when that dealership I asked to do a dealer trade and they will say no because they already have a deal being worked on that car it’s really important to collect as much data as you can before you make the offer because that will give you an idea of what’s a fair price. Also if you’re able to work with an internet department they usually will give you the best deal upfront as they do not get paid off of the gross profit but the volumes and bonuses that correlate with that. The other secret is to go through the dealerships Fleet department but they will not deal directly with a customer so you will have to use an Auto Broker for that and sometimes it’s best to have a professional do the negotiating for you if you don’t want to get overwhelmed, confused or spend a lot of time doing the process. If you do it on your own you can expect to budget 20 to 30 hours worth of work in research. This will give you enough time to visit a couple of dealerships and look at all of the dealerships in your area to see who has the biggest supply of inventory and a few other resources out here to see who is offering the best deals in your area. If you live close to a big metropolitan area like Los Angeles it’s also a good idea to shop there Market as they have more deals because they sell more cars.

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