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6. What should I tell the salesperson when I first walk on to a car lot? Tell the salesperson what you're looking for, what your price range is, and what you want your monthly payments to be (without any credit insurance and extended warranty). Also, know how much you have for a down payment. Do not mention a trade-in at this point. This will help you get the rock-bottom price on a straight-out purchase. The same approach applies for leasing. 7. How should I react to what the salesperson shows me? Do not ever bite at the first offer. Shop around. Always be ready to walk away from a dealership. This is your greatest and best strategy. All salespeople dread the fact that you can simply get up and leave, and go somewhere else. All their tactics are designed to keep you on the lot. 8. What should I do when the salesperson gives me the "rock-bottom" price? Always negotiate that price. Make the salesperson go to the bargaining table. Make them aware of the fact that you are ready to walk out if you cannot get a fair price for the car you want to buy. Once you get a fair price, make sure you have the salesperson write down that price on the dealer's purchase order. Once you have settled on a good price, only then bring in your trade-in. 9. Is there a way that I can get the best deal for myself? Yes, there is. And it's a simple three-step process. Know what you want. Understand how to get it (this means have a plan), and doggedly go after what you want. 10. What if I absolutely love the car, and want to buy on the spot? A word of advice: Don't! If a dealer senses that you are a finance customer and that you are desperately in love with the car, the sales force will try to "spot deliver" you. Spot delivery involves the dealer convincing you to drive home a new car before receiving an actual approval for a loan, and after you sign all the necessary forms, including a finance contract. Never fall for this trick. You are giving the dealer a chance to make more money off of you. |
