This insider perspective on car buying is a must watch if you are ready to put down your hard-earned money on a new car at a dealership. Salespeople are professional deal makers, and they can be super intimidating to someone who doesn't make deals on a daily basis.
That is where this video comes in. He lays out six things you must do to ensure you won't be caught unaware of some of the strategies used to make the dealership as much money as possible.
- Get your own financing. Not only does this usually mean better interest rates, it also saves time knowing exactly what you are approved for without having to get approved at each individual dealer.
- Go online first. This lets you know what kind of deals to expect and can get multiple dealerships competing for your business.
- Work price, not payment. When you deal in overall price, it is easier for you to keep track of exactly what you are paying and harder for the dealer to play number games.
- Save your trade-in for last. A trade-in is another opportunity for the dealership to play with the numbers to complicate your deal to make it look better than it actually is. Get the deal done before seeing what they can give you for your old car.
- Leave add-ons for yourself. Rolling accessories and options into your monthly payments seems like a good idea until you realize you could many times have the same options done yourself or in the aftermarket for less.
- Back end. Things like warranties, gap insurance, or the infamous "Undercoating" are easy to get tacked on the end for just a few dollars on your payment. Just like add-ons, though, these things are either useless or can be had for cheaper directly from the source after you have already made the deal.
These tips are a great way to arm yourself to get a good deal like he did on his own truck. Good luck!
Related: How to Not Get Screwed When Buying a Used Car