When buying a new car, you definitely want to score a great car for a great deal. However, dealing with push salespeople can leave you feeling frustrated, and sometimes it’s difficult to figure out how to negotiate a good price on the vehicle you want. If you’re wondering how to get the best deal on a new car, here are a few helpful tips that will help reduce your stress and save you money.
Spend Time Doing Research
Before you even walk into a car dealership in Maryland, make sure you spend time doing some research on the type of car you plan to buy. According to Moneycrashers.com, well-informed buyers are more likely to score a good deal. Spend some time researching the specific cars you’re interested in and check features and prices ranges online so you have a good idea of the going rate for the vehicle you want.
Compare Financing Options
While car dealerships offer financing, it’s important to compare your financing options before heading to the dealership. In many cases, a dealership’s interest rates will be higher than car loan rates from credit unions or banks. You may be able to get a good discount on a car loan rate at your current credit union or bank. It’s also possible to compare current interest rates online. If you get a car loan quote from a financial institution, make sure you get the quote in writing. Obtaining a car loan with lower interest rates can save you a huge amount of money when buying a new car.
Pay Attention to Your Trade-in Value
When you’re trying to figure out how to get the best deal on a new car, it’s easy to simply look at the new vehicle’s purchase price. However, Edmunds.com recommends that you also pay attention to your current vehicle’s trade-in value. You can lose thousands of dollars if you accept a bad trade-in deal. Before you head to the dealer, make sure you know your vehicle’s trade-in value. If the dealer won’t give you a good trade-in price, you can always sell your car privately.
Investigate Potential Incentives
Don’t forget to investigate potential incentives if you want to save money when purchasing a new car. Visit automakers’ websites to look for special offers, which may include sales incentives, such as cash rebates. However, if you have an incentive, CNN.com recommends that you don’t bring it up until you make the final deal. This way you can subtract the incentive from the final deal, helping you to save more money.
Compare Prices Between Dealers
To score a great deal on your new care, take the time to compare prices between multiple Maryland dealers. Many car shopping websites make it easy for you to get offers from nearby dealerships, according to Forbes.com. It may be worth your time to head to another city to purchase your vehicle if you find a lower offer. If you won’t want to leave your area, take the lowest offer with you to a local dealership and see if they’re willing to beat the deal.