How to get the best deal on your new car (Part 2 of 2)
Continuing our rough guide on how to make sure you don’t overpay for a new car unnecessarily.
You’ve worked out exactly how much you can afford to spend, you’ve conducted thorough research into what you can get for your budget, what your actual needs are, and what vehicles are available that meet those specs, and you’ve taken a few for a test-drive.
Hopefully one of these cars will be right for you, in which case it’s time to get down to business and negotiate the best price you can.
Play them off
It’s likely there will be several dealerships in your immediate area offering the same, or very similar, cars. What you need to do is contact them all individually, preferably by email, laying out exactly what you want, what you figure it is worth, and what you’re prepared to pay. So say that your research indicates the average price for the car you want is £24,600, you want to be asking every dealership if they can beat that price and if so, how much by.
Wait a few days, then take the lowest offer you’ve received and go back to negotiating. Don’t be afraid to repeat the process several times or drive a hard bargain – the dealership is perfectly free to walk away at any point, and remember that all cars will have a significant mark-up on them.
Avoid Unnecessary Extras
Before you’re asked to pay, any salesperson worth their salt will try and upsell you a range of extras. In almost every case, they are totally unnecessary and should be rejected out of hand. That goes for paint protection, extended warranties, high-tech alarm systems – if you look after your car well and are prepared to do some research in your own time, you can get far better deals elsewhere.
Again, you are likely to be offered financing by the dealership. If you can’t afford to pay outright then you should treat this offer with caution. Many dealerships earn good money from financing and you can usually find a deal more suited to you through your bank or online. You should have a good idea how you’re going to pay before making any purchase decisions.