Having worked at an auto dealership, I can offer you a few tips for buying a new car. Before you go to any showroom, know what your trade-in is worth, what credit is available to you, and what you really want or need in the way of a car.
o If you are going to trade in your current car, look it up on a website such as Kelly Blue Book https://www.kbb.com/whats-my-car-worth/
o Shop banks and credit unions for how much credit and the % you can get. It is typically not the best value at a dealership. It is a profit point there.
o Know what you want before going to the dealership like 2-door or 4-door, electric, or hybrid, red, or black.
Okay, now you are ready to go shopping. There are preferred seasons, days, time or month to go to a dealership. Typically in the Fall when the new model years come out, there are often good deals on the previous year’s models. They are still new cars and just as good and you can buy them for less money. Everyone feels like a new car in the Spring or Summer. Very few people feel like looking in the Winter. If you don’t do the Fall shop, go in the Winter. All sales people have a monthly quota to achieve as does the dealership. Do not go early in the month. Go at the very end of the month when they will be hungry to make their quotas. Do not go on the weekend. Go during the week when there is less distraction. I also suggest going after dinner. No one else will be there and the sales people want to go home and may do less finagling with you. It’s okay to ask to see the kind of car you want, but do not show your emotions over any of them. Also, do not state the color you want. When you look at the cars, look at their stock number on each car. The lower the number, the longer it has been on the lot The dealers are paying interest called flooring and all the time they keep a car, the more expensive it is for them. If you are stuck on a color you must have, you may have to pay more. If you are ready to get a quote on a particular car, just ask them to quote you the bottom line. You don’t need to care about the sales price minus the trade-in as they can make either of those lines what they want. All you should care about is the bottom line including tax and license. Note of caution: sometimes the dealership has added on items to increase the price. You probably don’t care about them and tell them so. There are also other add-on things like extended warranty or some upgrades like better tires. Don’t go for them either. Lastly, if you’re not satisfied, tell them you do not need the car today and you’re prepared to shop elsewhere or go online and do it if they don’t improve the price. Get the car you want quoted elsewhere and get the best deal. Sometimes the first dealer will call you a day later and say they are ready to improve the price. Look out for yourself and do the best you can.
