5-Step Quick-and-Easy Check List
How to Get the Best Car Deal With Minimum Effort
If you're looking for the easiest way to maximize savings when buying a new car, then this 5-step check list is your best guide. It's the result of over 4 years of in-depth research covering every aspect of the car buying process. I've spent thousands of hours studying and writing about this subject, and actually tested the methods in the real world as a professional car negotiator. Rest assured, I've done all the research so you don't have to. I urge you to read my story to see how I went from being a clueless car shopper to expert price negotiator.
Be sure to read the Detailed Guide for a full and comprehensive overview of each step.
Step 1. Get the Best New Car Price
First, gather price bids from the following sites...Step 2. Get the Best Financing Rate
First, know your credit score and fix any errors in your credit report ...Step 3. Get the Most for Your Trade-In
You'll get the most money if you sell to a private party, especially if the car is older and has more miles ...Step 4. Get a Deal on Extended Warranties
The best extended warranties are backed by the manufacturer. You can only buy them through a dealer...Step 5. Get the Best Price on Car Insurance
Car insurance rates vary dramatically, so the first thing you need to do is compare rates ...| You: | "Hi, I'd like to speak to the internet sales manager" |
| Receptionist: | "Hold please..." |
| Internet Manager: | Hello, how can I help you?" |
| You | Hi, I'm interested in a (Year/Make/Model). I'm ready to purchase in the next couple of days, so I'm calling around to see who can offer me a good deal. I'd like to send you an email outlining the options I'd like along with some additional questions. Can I get your email address? |
| Internet Manager: | Sure. (gives you email address) |
| You: | Thanks. |
| You: | "Hi, this is [YOUR NAME], thanks for sending me the bid for the [YEAR/MAKE/MODEL]. You had quoted me [$] under invoice. The best offer I got was [$ ] under invoice. Now, before I give you an opportunity to beat that bid, I did want to let you know that I'll be giving a 100% score on the Customer Satisfaction Survey. Also, if I buy from you, I will be servicing my car at your dealership. Taking that into account, what's the best price you can offer if I come down and purchase today?" |
| Internet Manager: | [Offers lower bid] |
| You: | "That's great. Thank you. I still have some more calls to make, but I will call you back with my final decision." [If dealer can't offer a lower bid, thank them and move on] |
"I'm very close to making the purchase, and I do prefer working with your dealership. But I do have a bid that is $300 lower. If you match it right now, I will come down and buy from you today"
If you try to bump them down more than $300, they tend not to believe you.
When you get to the dealership, ask to see the person you spoke with. They will take a look at your car and come back with a price (usually a low-ball offer). No matter what price they quote, tell them the offer seems low compared to what you've been quoted elsewhere. They will either say that's the final offer or will ask what price you've been offered elsewhere.
Whatever price they first quote, come back with a price about 15% higher. So if they quote you $10,000, tell them that you believe the car is worth at least $1,500 more. Wait for their response. If they say "no way", ask if that means the first offer was their best offer. If they say "that's too high", ask them how much higher. Chances are, they will offer you a higher price.
You're not done yet. Tell them the car is in great shape and won't result in any problems. Counter with a price halfway between their last offer and your original counter-offer. Say you think the car should be worth that much and see how they respond. Either way, when you're done, you will have a good idea as to what your car is really worth. Repeat this process until you get offers from 3 different dealerships. ×
