If you’re on a limited budget, searching for a vehicle can be a hectic experience. I’m currently going through this myself. Hopefully some of these tips I’ve picked up can be of some help to you.
Know your price range and stick with it
If you don’t want to spend any more than $20k, be firm. Most of the sales people I’ve been dealing with keep trying to urge me just a smidgen higher. Watch out for tricky sales tactics. Let them know that you will not look at or test drive anything without knowing a price first. It’s their hope that you will like the vehicle so much that you won’t care that it’s above your budget.
Aim low on monthly payments
In addition, know your monthly payment budget but don’t tell the sales person that number. Instead tell him/her a payment that is as much as $50 lower then what you plan to spend. I’ve gotten a lot of “miscalculations” when it comes to quoting my monthly payment after the paper work starts. I also get a lot of, “My manager won’t let me do that price/payment.” It is their hope that once the trouble of the paperwork starts, you won’t want to scrap it all and start over.
Research online
Look up your local dealerships online. They can be very helpful in determining what the dealer might have available, price comparisons, rebate offers (if any), or any other sale or deal. Print out any deal pages to take with you to the dealership. Also, call ahead and make sure they have what you are looking for in stock.
Sometimes, a sales person will make an extra offer to get you to come down to the dealership. Be sure you write down the name of who you are talking to so you can deal directly with that sales person and hold them accountable for whatever they offer.
Buy on the last week of the month
This is the time when the dealership is scrambling to make end of month sales quotas. Sales people will be more apt to cut you a better deal during this time of the month than most others. Particularly, if you can hold off until the last quarter of the year, most dealerships are trying to get rid of current model vehicles to make room for upcoming models. You could find some really great deals on brand new vehicles.
I hope these tips help you ease some of the stress of buying. Now, back to looking for my next car!