Everybody can feel overwhelmed by the cost of a new car, but when it comes to visiting the showroom or buying one second-hand, there are a number of things you need to know so you can get a bargain. Let’s show you a few methods so you can get the right car for the right amount.
Preparing Yourself
It will make a big difference to understand what you are looking for. There’s a lot you can do to get a great deal before you step into the showroom. New and used car providers like Edmunds provide a number of discounted brands, but you can also look for manufacturer discounts. If you don’t know what type of model or engine you want, it’s far better to do this type of research upfront.
One of the biggest issues we can all have when we go into a showroom is being blind-sided because they talk incessantly; we can feel like we just need to get out of there and say “yes” to anything in order to stop being worn down. When you get clear on what you want, you will feel more prepared so you can negotiate or find a good deal.
Set Your Budget Beforehand
Making a choice on how much you want to spend before you start the process of buying a car is essential. Failing to set your budget beforehand could mean that you inadvertently spend several thousand pounds more than you really need to. There are lots of great cars for £10,000 and under that you can invest in when you’re sticking to a tight budget, so there’s no need to stress about finding the perfect car no matter how much money you have to spend. Assess your finances and be realistic when deciding on your budget – don’t force yourself into financial difficulty simply to buy a newer car that you don’t really need. Don’t forget to factor in the cost of insurance and road tax too, as these are necessary extras that can add up over time.
Choose the Right Time
If you can hold on until the off-season this can make a massive difference. The best times to buy a car are usually March, June, September, and December. There are also good days to buy cars, for example, three-day weekends or Mondays. It’s also worth keeping your eyes peeled for sales events or at the end of a model year.
If you are looking for a bargain and you don’t mind not having the newer model, you can take advantage of this when a new car arrives in the showroom, typically during the autumn months so you can head to the dealership just before a new model arrives.
Being a Better Negotiator
You might feel like you’re going into battle, but you need to stand firm. If you are happy to do a deal today you can let them know this, but it’s about being assertive and letting them know that it will only be at the right price for you.
They will very likely put obstacles in place, for example, if you provide a quote of a deal you have previously researched and asked them if they could match it, if they say “no,” it is important to be calm and ask them what they can do for you to persuade you to buy today. If they need to check with their manager you should ask if you can speak to them.
They will always put up roadblocks and say things like they don’t make any profit on a specific car or don’t get any commissions, and the fact is that these are all untruths that are meant to give you a disadvantage.
The same will occur with financing options but you should never state specific figures as to what you can spend. You should always ask for the interest as the APR and your percentage rate as this will give you a far better understanding of how much it will cost.
There are many ways to get bargains on the car; these are just a few to bear in mind.
