When purchasing a new car from a franchised dealer, there are several ways to ensure you get the best deal. The Internet provides many options to research and discover pricing, financing and even trade-in values. If you spend a little time doing your homework, you can guarantee yourself the best price on your next new car or truck. Below are a few useful tips to help you get the best deal on your next new car purchase.
Create a budget: first determine how much car you can afford to buy. Decide on the type of vehicle you want as well (compact, sport, SUV, truck, etc.).
Access your Credit Report: it will be useful to review your credit report. Why? You want to make sure there is nothing on there that you do not know about that could hinder you getting approved or get less favorable terms on the financing.
Secure your Financing: online lenders offer a simple application process where you can apply and get the terms of your approval right away. When you get your car loan before stepping foot into the dealership, you gain an upper hand on the negotiation process. You are now viewed like a cash buyer to the dealer.
Research Invoice Price: there are an abundance of sites that exist today that can help you hone in on what that new car will cost you. Use these sites to spec out the vehicle exactly as you want it. Be sure to include destination changes when determining the invoice price. Once this exercise is complete, you are now armed with information to help you make a much smarter buying decision.
Visit Dealers Website: most dealers today are putting their inventory online. Surf the web and find the car you are looking for. Once you land on the exact vehicle, you can compare how it is equipped to the one you researched the invoice price on. Now when you walk into the dealership, you know exactly what the dealer paid on that vehicle and you know where to start you negotiations.
Close the Deal: Negotiate with the dealer via the phone by talking to the Internet sales department or in person. Do not purchase any back-end products from the dealer either (GAP or Extended Warranty). These are bug profit makers for the dealer and you can find equal coverage for a lower price online.
Do not let that next new car cost you more than it needs to. Follow these simple steps to make sure you get the best price.
You can find out more about negotiation tips and apply for your next car loan online at OpenRoad Lending.
About the Author: Chris Goodman has been in the auto finance business for more than 20 years and has assisted thousands of consumers with their car loan needs. His articles are insightful and assist consumers in understanding the ins and outs of auto finance. OpenRoad Lending is an online lender with a consumer friendly website providing auto financing solutions to consumers in the process of purchasing a new or used vehicle or refinancing their existing auto. Visit the website at http://www.openroadlending.com for more information about how easy it is to get a car loan.