How to get the best deal possible when purchasing a car?

car

When buying a new or used car it’s important to ensure you always get the best deal possible. With multiple car dealers around it’s essential to remember, you the buyer holds the power in the negotiations, not the sales person. Very few cars actually command their full sale price and any discount you can get at the time of purchase will help offset the cost of depreciation. Here are four tips to help you get that best deal:

Know the product & your market

Before approaching the showroom do your research. Ensure you know all the model ranges, prices, extras, and most importantly any current special offers dealers may have available. It’s also worth noting that although there might a cash back offer on for example, the dealer will still have their margins to play with, allowing you to potentially get a better deal if successful.

Don’t be intimidated

Dealers will do their best to haggle and it’s their job at the end of the day, however this doesn’t mean you should be intimidated by this. As the buyer you are entitled to bargain over price and if you aren’t happy, simply walk away.

Buy at the end of the quarter

More often than not dealers will be rushing to hit quarterly sales targets and may let you get away with a bargain if you approach them at the correct time. Time your purchase.

Avoid car finance when possible

Although dealers are often more than happy to sign you up on that 5 year finance agreement, this may not be the best option for you. Car finance is notorious for interest rates (not that dealer will care when they are selling it you). Source your finance elsewhere if possible such as friends & family or a low interest bank loan.

Frugal Frank

Editor
I have a passion for getting the best deal possible, whether it be buying a new car or saving money when eating out.

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