Whether you\u2019re planning to buy a new or used car, you can usually get a better deal by bargaining with the car salesperson. A little preparation beforehand can help you drive away from the dealership with a great deal \u2014 or help you know when it\u2019s time to walk away. Learn these 5 tips for how to negotiate with a car dealer.<\/p>
The 3-dealership rule can help you find the most competitive offer on whatever car you\u2019re interested in buying. Simply do a quick Google search and find the closest 3 dealerships to your house. Pick a weekend that works best for you and make the time to go to all 3 of them.<\/p>
Once you\u2019ve gone to all 3 dealerships, you\u2019ll have a good idea of which one has the best deal on the car you\u2019re interested in and can use offers from competing dealerships as leverage when it comes to negotiating the price of the car you want.<\/p>
There are a few times of the year that are better than others when it comes to buying a car. The general rule though is to shop for and negotiate a car\u2019s price at the end of the month. Salespeople have monthly targets, and they\u2019re sometimes willing to play ball to lower the price in order to hit those targets near the end of the month.<\/p>
But don\u2019t wait until the very last day of the month. Some dealerships have fiscal months that end a few days before the calendar month, and salespeople might hit their targets a few days early. Instead, aim for shopping a few days to a week before the month ends for the best chance at a killer deal.<\/p>
And for the absolute best deal, shop near the end of December, when salespeople are trying to get rid of old models and hit both yearly and monthly goals at the same time.<\/p>
Dealership financing is convenient, but it\u2019s not always the best deal. Before you drive away with the car of your dreams, take the time to compare your financing options and see if you can get a better deal from a bank, credit union or reputable online lender<\/a>.<\/p> Not only can a third-party lender offer a better deal in many cases, but getting preapproved with a few lenders<\/a> before you visit the dealership also puts you in a better position to negotiate both your car\u2019s price and your interest rate.<\/p>Compare car loans to see what your rate could be<\/h4>