If you’re looking to buy a new car from a car dealer (or a used one from a used car lot, for that matter) you may be feeling a bit apprehensive. It is common knowledge that it is possible to get better deals if you negotiate well with the dealer and you obviously want to be the one who gets the best deal possible. In this blog post, we’ll tell you what type of info you should not reveal in order to allow you to keep the upper hand.
Do Not Mention Monthly Payments
Perhaps the most important thing to avoid saying is to raise the subject of monthly payments before the final price is fixed. If you start talking about monthly payments too soon the dealer will be able to confuse you with phrases like “I can get you into this car of your dreams for only 200$ a month” but you end up not sure how many months you’re talking about and so ultimately will end up paying a rather high price for a car you could have gotten for less.
Do Not Reveal You’re Interested In Trading In Your Old Car
You should not tell the car dealer you’re interested in a trade in kind of deal because then the dealer will offer you an excellent price for your old car just to reel you in. Since you’ll be dazzled by the sum they offer you for your old car you won’t notice that the sale price is higher than it could be. What you should do is check out how much you can get for your old car if you sell it yourself, negotiate the best price you can for the new car and then ask to trade in your old car for how much you know that it’s worth.
Do Not Say You Intend To Pay Cash
If you happen to have enough money to buy the car without needing any kind of financing plan do not let the dealer know this is what you intend to do. Car dealers make money on finance plans so as long as they think you’ll want one they will be more inclined to offer you a better buying price.
In summation, come prepared, know how much the kind of car you want costs (get quotes from several dealers), how much you can get for your old car if you’re approved for a car loan, etc. With all the info at hand concentrate on negotiating the final price before starting on trading in options and how you’re going to pay.