Call Us Toll Free: 1-855-430-7753

How to close the deal when buying a car



How to close the deal when buying a car

You have done your research and are heading into the dealership to buy a car. You have your figures calculated out and the financing in place. The vehicle has been decided on so now it is just up to you to close the deal on buying your new car.

The first and most important part to closing the deal is to have your facts and figures straight. Know what the dealer's cost is compare to the manufacturer's MSRP and what you want to pay which is usually somewhere in between. Also, know how much the extra options cost that you want on your vehicle. You should have been to the car lot previously for a test drive so you should know if the car you want is on the lot or not.

If the car you want is not on the lot that is okay you still can negotiate the deal you want on the car and have it ordered for you. You will have to put down $100 or so usually when you order the car so that the dealership knows you will finish the deal when the car arrives.

Therefore, whether the car is on the lot or has been ordered and is now at the dealership it is time to fill out the paper. Here is when the dealership will try its best to make extra money if it can. That is why you should walk in the door with your own financing. The dealer's finance department usually never has the best deal around.

This is also the time in which the dealership will try to push extras. They will try to talk you into purchasing service contracts or an extended warranty. You should not need to purchase the service contract. If they ask, why not ask why you would need it. Do they not have confidence in the dependability of the vehicle they are selling you?

For an extended warranty, you do not need to decide about this at the time of your purchase. You can buy an extended warranty up until the end of your manufacturer's warranty. There are plenty of online companies where you can get an extended warranty for much less than what the dealer will offer.

If you have a car to trade in now is the time to negotiate that. Do not negotiate the amount you will get for the trade in until you have the price of the vehicle at where you want it. That is the time to mention the trade in. If you mention it before the dealer's will most likely keep the price of the vehicle higher in order to make up for the money they are giving you for the trade in. Therefore, if you have the price of the new car on paper before bringing up the trade in the dealer cannot now jack up the price.

You should come in aware of what will be a decent amount for your trade in. Know what the book value of the trade in is for both retail and wholesale. If they are not giving you what you believe you could sell it yourself for than do not trade it in but sell it yourself later.

Now that all of the numbers have been crunched, you now have to fill out the paperwork. Read everything. The dealer might rush you but take your time. Your money is on the line so make sure you understand all the words on the paper. Again, look out for extras they might try to add in such as rust proofing. Unless you live in North Dakota, there is very little reason for you to need this.

Before signing the paperwork, take time to look over the car. You do not want to drive off the lot and find out that there is a large crease in the side of a door or other flaws. If you find something like this point it out to the dealer immediately. Also, check the gas gauge to make sure you will not run out on your drive home. That would be a lousy first drive in your new vehicle.

Now that the paperwork is complete and you have inspected your car you should be handed the keys. Take them and cherish them. You have just made a big purchase and should be happy. The only think left to do is get in the car and enjoy your first drive home in your new car.


Related articles on CarInsurance.com


Tell us your thoughts

Leave a Comment
0 Responses to "How to close the deal when buying a car"