Do you have a car buying strategy? Why would I ask that question? Because if you dont you could be getting taken for a ride. You can bet that the auto dealer will have his strategy planned, down to the last dot and comma. From the moment he sees you, he knows the path he wants to lead you down.
You had better have your own strategy in place. The agent’s job is to meet his sales quota. He can make it easier for himself by maximizing his profit on every deal. Perhaps by guiding you towards a more expensive car than you had in mind. Adding on a few extras.
Finance through the dealer, service contracts, GAP insurance etc may be a better deal for him than they are for you. You need to plan ahead and know what alternatives are available before you go to the car lot. Know what model and what features you want.
The next part of your car buying strategy is to know when to look. New models are released between August and November. Just before then is your chance to get the current model at a discount. The dealer needs to get old stock off his hands.
The end of the month is good because they will be trying to hit that quota. The pressure is on them to get you to buy now rather than later. Use that to your advantage. If they see that you are ready to leave, it might encourage them to improve the deal.
Weekdays are better for getting a good deal. With fewer buyers around, the agent needs to pull out the stops to make the deal attractive. If you are the only one in the showroom, he doesn’t want to see you walk away.
Buying a car is a major financial commitment. You dont have to do it today. It is easy to be seduced by the shiny paint job and that new car smell. And the dealer will have used every trick in his playbook to take advantage of that. He will want you to believe that if you want this car, its got to be now. Thats not true.
If you are not sure about the car or any aspect of the deal, or you are feeling under pressure, walk away. It is much easier to do that if you have prepared in advance. You will be able to get the same model, at an equal or better price, next week or the week after.
Having your own car buying strategy can put you on an even footing with the salesman. In tough economic times, you need to make sure you are getting the best possible value on a car that suits your requirements.
