How Do I Beat The Car Dealer?

You will almost certainly save hundreds of dollars—many buyers will save thousands of dollars—by asking for quotes from car dealers.

2008 was the worst year in new car sales in 16 years. Sales fell on the average of 18% nationally. Of 36 manufacturers, only the Mini Cooper reported an increase in sales.

In these economically challenging times, how can you be sure you get the best bang for your buck on the second most expensive asset that you buy?

Driving a brand new car home can certainly lift anyone’s spirits. But the joy can be ruined by wondering if you paid too much. Worrying about getting a great price can make new car shopping a real hassle.

Competition is the key to avoiding the aggravation. When you get new car dealers to bid competitively for your business, you can sleep soundly about getting a fair price.

In our ever declining economy, the downhill movement in new car sales will not be ending any time soon. You can turn this bad news for dealers into good news for you. You can take control of the negotiation process with dealers from start to finish in this current buyer’s market.

Decide on the make, model, and style of the car you want. Then, get each dealer to bid an amount above or below the “factory invoice price.”

The factory invoice price is the same for all dealers. So if one dealer bids $500 above invoice and a second bids $500 below invoice, you’ll know the second is $1,000 lower priced than the first.

You don’t have to have the invoice price information in advance; just explain to each dealer that you will expect to be shown the actual factory invoice for any car you consider buying. Then when you compare the prices, you’ll know you’re looking at apples to apples.

Don’t be intimidated by some dealers who give you the runaround. You may get responses like:

“I’ll beat any price you get. Call other dealers and then call me back.”

“What do you think is a fair markup? You tell me.”

“We don’t quote prices over the phone. Just come in and I’ll give you the best deal in town.”

You can get competitive quotes from 5 new car dealers before you ever leave home. Sitting eyeball to eyeball for hours with any dealer is a waste of time. The only control you have in that situation is the possibility that you’ll walk out, and either buy a car from another dealer or not buy one at all.

In fact, while unaware car shoppers spend many agonizing hours with numerous car salesmen, those same dealerships are bidding with other smart shoppers who’ve never had to set foot in the showroom to get the best price for their car.

Let dealers know: if they don’t give you a price quote, they have no chance for your business. Be businesslike and persistent. If a dealer won’t give you a serious bid, go on to the next dealer. There are plenty of dealers that will respect your businesslike approach and respond in kind.

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