Buying a new car is an exciting project and it can be one of the most enjoyable and rewarding things you can do
. It's great just to read new-car reviews and get excited about the model that not only fulfils your needs but also gives you that little bit extra to start your heart racing. After you've checked out all the details and obtain some quotes on new car insurance, it's time to get down to the nitty-gritty and secure the deal of a lifetime.
Car reviews will always give you a list of pros and cons and some of the more popular critics both in the print and screen media are sure to give you plenty of good ideas to help you make up your mind. But in the end, it all comes down to whether you can afford the vehicle and whether it suits your purposes. The hardest part however is actually going into the showroom and negotiating the deal, and this is where the real work starts. Although you always have a fair idea of what your vehicle is likely to cost, it's not until you actually have a quote in writing from the new-car dealership that you know what you are dealing with.
Although most dealers have a set price there is usually room to negotiate on the following tips will put you on the right path.
Work out a fair price. Do some research first to see what deals are being advertised around town and work out what you think is a fair range for your new vehicles price. Once you have this figure in mind make sure you don't stray outside the limits.
Look at the competition. It might take a look of work, but as you go from dealership to dealership you'll get a better idea of which ones are hungrier than others and you can use these to your competitive advantage. Try to play one deal off against the other and see who is able to give you the best deal.
Get your finance preapproved. The real price you pay for your vehicle is what you pay for your finance, so make sure you shop around and get the best interest rate and monthly repayment that suit your budget. Having your finance preapproved makes it easier to bargain in the dealership too.
If you are trading in another vehicle, check the newspapers for approximate prices that are being charged by similar sellers and point this out to the new-car dealership to try to get them to match it as closely as possible with their trade-in offer.
Negotiate the best price with each dealer and let them know you are not making a decision today. Write down their quote and let them see the comparisons with other dealerships. Once they see what they are up against you may be able to get them to lower the price.
Although this list is not an exhaustive one, and you will still need to get quotes on vehicle insurance to finalise your budget, the steps listed above are certain to get you started on the path to getting the best deal possible.