Interested in getting the best price on a car, follow these 5 simple steps

Interested in getting the best price on a car

, follow these 5 simple steps

Homework

Nowadays the internet can be your best friend. Do your research on line. The salesperson can have his or her way with you when you walk into the dealer not prepared; try to be in control of this deal. Read a lot of reviews; check out the safety features, fuel economy, and pricing of other models. Don't let the 1st day you drive the car be the day you plan to buy the car. If you have a trade-in car, get an idea what your car is worth, based it on things such as mileage, condition, and body. Be sure to understand that you are not going to receive the retail price. Research websites that can help with the CR's Used Price Reports.

The sticker price isn't final

The manufacturer really wants you to believe that the price on the sticker is the starting point, but really it isn't. The dealer invoice price is where you want to start. Dealer invoice price is available on some websites. Sometimes the dealer even pays less than the dealer invoice, through incentive programs, holdbacks which allows the dealer to have a larger profit margin. Incentive programs are not hard to find out about, places like Consumer Report, Cars Best Deals Plus Service or New Car Price Report. You should start negotiations at about 1% to 5% over what the dealer paid for or the CR Wholesale Price. However if you chose a car that was in high demand, don't even bother because the dealer won't give you a deal at all. Take the time to negotiate one thing at a time

Try to stay away from gauging at monthly payments, but focus on lowest markup over your starting price. When a salesperson tries to negotiate trade-ins, with monthly payments it gives them a chance to inflate figures within the deal. Also let the salesperson know that you are planning on price shopping and will buy from a dealer with the lowest price. After all is said and done now you can discuss financing or leasing rates or even trade-ins, negotiate each item individually. Don't forget you're in charge, and you can walk away at any time.

Can you get you own financing?

Dealer rates may be higher than some banks and credit unions, so do some research before. If you can get a pre-approval you'll have one less thing to negotiate with the dealer. Sometimes the dealer might have an attractive offer, but you may not qualify so before agreeing to anything, make sure to read the fine print.

Save yourself from paying extra $$$

Dealers will try to sell you protection packages, rust proofing or etching your Vehicle Identification Number on the window. Some of these are a waste of time, for example vehicle bodies have a coating that protects it from rust. There are places that can etch your VIN for about $25, and you could even try some fabric protection products from a hardware store.

Try these and you should be able to save a little here and there.

Thank you for reading this article it is brought to you by Manor Contours Ltd Toronto, we are your credit experts when it comes to luxury and exotic cars. Let us approve your car loan regardless of your credit history, visit us online at http://www.manorcontours.com or http://www.soscarloans.com

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