How to Spend Less Buying a New Car
- 1). Calculate the invoice price of the new car that you plan to buy, the Negotiation Dynamics website recommends. Select the exact make and model and look up its cost on automotive research websites such as Edmunds and Kelley Blue Book that provide free data. Factor in any equipment packages and options to get an accurate cost. Look up the car on multiple websites and make sure the numbers match. Manufacturers sometimes raise prices, and it takes time for websites to update their records.
- 2). Look up current incentives on your car of choice for both consumers and dealers. A rebate is a cash payment that goes directly to the car buyer. A dealer incentive is money given to dealerships that they can keep or pass on to consumers. You automatically get any applicable rebates when you buy a vehicle, but dealers can choose whether or not to share their incentives. You may have to bargain to get some of that money.
- 3). Search dealer inventories to see if the car you wish to purchase is in good supply. Many dealerships allow you to search their current inventories on their websites. Otherwise, visit several local dealers and casually observe the stock on their lots. You will spend less on a car with plenty of inventory than a hot model that is hard to get.
- 4). Review online forums to learn recent prices paid by buyers in your area. Edmunds has forums for all major car companies, and there are message boards devoted to various manufacturers and models. The posts will show you if people are paying at or close to the invoice price or if a big markup is typical on your preferred vehicle. Decide on a fair price based on your data.
- 5). Visit dealers at the beginning of the last week of the month. The Edmunds automotive information site explains that the salesperson or dealer might be close to a month-end bonus that requires one more sale, and Mondays and Tuesdays are typically slow days.
- 6). Leave the dealership and visit a different one if the salesperson is unwilling to bargain. You may need to shop around to get the best deal.
