Ready to treat yourself to a brand new car? If so, then you probably have plans to head to your local dealership. Before you visit a new car dealership, though, there are some steps you'll want to consider taking that could help you secure the best deal. From there, you can drive off the lot with confidence (and a little extra money in your bank account).
Take Advantage of Dealer Competition
One of the best ways to get a great deal on a brand new car is to pin dealerships against each other as a negotiation tool. If you know that two local dealerships carry the car you want, consider getting a "best offer" price from one dealership and then going to the other dealership to see if they can do any better. You don't even necessarily have to visit the other dealership in-person; negotiation can (and often are) made over the phone or even via email.
Buy at the End of the Model Year
If the car you have your eye on will have a new model out in the near future, consider waiting until the new model year is released. From there, you can buy a brand new version of the existing model year at a heavy discount. This is because most dealerships will want to get rid of the remaining inventory of the previous model year to make room for the next model year, resulting in hefty markdowns that you can take advantage of.
Model year roll-outs can vary greatly from one manufacturer to the next, but many take place sometime between August and October.
Value Your Trade Ahead of Time
If you'll be trading in an existing vehicle, get a better idea of its current value using a free service like the Kelley Blue Book. From there, consider getting a few different trade-in offers from local dealerships to see who will give you the best value for your trade, being sure to bring in your research from the Kelley Blue Book and other resources to show that you've done your research. You might also consider waiting to bring up your trade-in until after you've negotiated the final price on your new vehicle.
Buying a brand new car can be exciting, but, of course, you won't want to leave any money on the table. Fortunately, these practical tips make it easy for you to save your hard-earned money.
For more tips, reach out to a new car dealership in your area.