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Buying a car | 04.02.2014 - 20:33

Five Helpful Tips For Negotiating The Best Rates For Your New Car

These are five helpful suggestions for helping you navigate the waters of buying a new car and spending as little as possible on it.

In the near future, you are planning to take out a loan on a brand new car. It's been awhile since you drove something that wasn't old, and you're excited about the venture. However, you are also a little bit worried about the vehicle rates. What are some tips to help you negotiate the best rates for your car?


Work on Your Credit Score

When you say that you want to negotiate the "rate" for your vehicle, you could mean more than one thing. You might be referring to the interest rates that will be tacked on to your payments. In order to help get those rates down, you should start working on raising your credit score. Generally, lower credit scores are met with higher interest rates, so a high credit scores gives you some leverage in the negotiations.


Conduct Research Online

Remember, you want to go into the dealership with a proverbial bag of tools to help you get what you want in the negotiations. This means you should be comparing the price of the same or similar cars at different dealerships. For example, having a Sawyers Chevy price compared to another one will also give you leverage. You can ask your preferred dealership if the entity will match the lower price.


Be Willing to Compromise

You also need to keep a full focus on what you are doing; you are negotiating for a better price or rate. Negotiations often require both sides to give something up. In order to secure a lower rate, you might need to be willing to pay the car off in a shorter amount of time. On the other hand, the dealership might be willing to extend the agreement so that you are able to pay smaller amounts each month.


Negotiating on Extras

Even if the actual price of the car cannot be changed, you can try to negotiate on some of the extra elements. For example, find out if the extended service contract can be thrown in without an additional charge if you are willing to pay the full price of the vehicle.


Understand The Limitations of Negotiations

If you go into the dealership with rage in your mind and demanding that a certain price be provided, your expectations are probably not going to be met. While you want to get a lower price on the vehicle, the company also wants to make money. If you keep this thought in your mind throughout the process, you should be able to retain a calmer demeanor that only benefits your transaction.


When you are ready to try to get the best rates on your new car, these helpful tips will assist you.

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