NEW HAVEN, Conn. (WTNH)– Summer is a popular time to trade in your old ride for a new set of wheels. Many of us like to think we can negotiate our way into a better deal but it’s a lot easier said than done. We are stretching your dollar with 3 tips that will help you get a better deal!
Consumer Reports recommends before you visit the dealership, research the vehicle you want. Know approximately what the dealership paid for it. With that, come up with a price you’re willing to pay that’s fair to you that also includes a fair profit for the dealership. Demonstrating knowledge and research will cut haggling time when they know they’re dealing with someone experienced.
Another important point, don’t discuss the monthly payment until you’ve settled on the price of the car. When you talk monthly payment too early, it allows the dealership to lump the process together, leaving you paying for more than you would have if you negotiated one thing at a time.
That’s how sneaky fees make their way in.
Know that you can walk away. If the offer is good today, it’ll be good tomorrow. When you walk away, they’re more likely to sweeten the pot to complete the sale.
It’s a good idea to have already taken a car for a test drive before you get to the dealership you’re hoping to make a deal with. When you’ve already done that – that just sends another sign they’re dealing with someone who knows what they’re doing.
The last thing you want to do is rush into a deal before you’ve done your homework.