How to Buy Value When Looking at New Cars

Posted on 29 October 2013 by Tony Santos

Buying a new car

For many of us, the mere thought of visiting a car dealership is enough to make us want to keep that banged-out Punto. Whether it’s the hassle of the haggle or the hefty price tag that comes with changing cars, shopping for an new set of wheels can be a very unappealing prospect. But it doesn’t have to be a nightmare. Whether you’re buying a used BMW or a sparkly new Citroen, there are many ways to save money without compromising on quality.

Know Your Budget

Although many people will tell you that you should let the salesperson know what the monthly amount we want to spend is, but this is NOT TRUE. If you offer up that information freely, the dealer will likely try and push you towards (or beyond) that price which will only frustrate you and waste your time. If you’re looking to save money when buying a new car, keep your budget under your hat and you’ll have more power when it comes time to negotiating a price. If the dealer is pushy, emphasise your willingness to get a great deal and don’t give away how much you can afford to spend.

Do Your Research

Before you step onto a car lot, you should spend at least a month narrowing down exactly what you want, need and can afford in your next car purchase. You should know exact type and size of car you are looking for, and what it should cost you. Don’t be afraid to visit lots of different dealerships to help you weed out the best value for money, and the nicest sales people to deal with. Trying to save money on a new car can be tricky at best if you don’t know what that particular make and model is worth in the market at that time, and what a dealer has paid for it. There are tons of great motoring advice websites like vCars that will help you figure this out, so that you can make an informed decision when it comes to buying a new car. They offer unbiased car reviews, information on what add-ons actually cost the dealership and how much it will cost you to run. Doing your research will give you the upper hand when it comes time to buy, and offer an invaluable insight into what to expect from your negotiation.

Be Patient

One of the most important thing to remember when buying a new or used car is to keep your cool. If you seem panicked or desperate the dealer will see an easy win, and try to bump up the price. Make up your mind beforehand not to buy on your first trip to the dealership – no matter how good the deal is or how much you want the car. You should always be willing to walk away – if the salesman sees this, they will be more willing to communicate on your terms and offer the best deal. Remember, they have lot more experience of negotiation than you, so don’t think you can outsmart them if you don’t have the research to back it up. Playing it cool will help in the negotiation process, but also remember to be realistic, otherwise they may just let you go. Just be sure to take the time to buy on your terms and not the dealer’s, as it benefits you to avoid a hasty or rushed decision.

Before you go shopping for a used car, bear the above in mind, and ensure you know exactly what you want and how much you’re willing to pay for it.

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