If you are wondering where to buy a new car cheap, then let us help you out. There are special methods by which you can reduce the cost of any new car that is for sale. Here is how you can do it right.
Check Your Credit Score and Get Your Loan Approved
If you have your credit score, you have an accurate idea of how much financing you can get. Your credit score directly affects your interest rate and how much financing you will get. Make sure that you get your financing ready when you visit your car dealer so that you can choose the right car and get the right discounts. Car dealers do have financing and they will try to get you to take it over your personal choice. This is because the dealer will get a cut from the financing and you will pay higher interest rates for the same car.
Make sure that you check online to find the right price of the car that you want. Researching online car sales is the best way to get the accurate price of the car and the location and dealers who have it. Make sure that the dealer that you get in touch with has the car on their lot. If the dealer does not have the car you want, they will get it for you from another dealer. This will charge you much more.
Deductions and Discounts
Use online websites to then find the MSRP. At the bottom of the page you will also find the manufacturers rebate and then deduct it from the Invoice cost. This should the price you should aim for. Each dealer is also allowed a dealer holdback which can be passed on to you in the form of a discount. Usually this is about 2-3% of the MSRP and you can get a further discount if you ask the dealer to add it to the discount. Each dealer will also charge you about $500 which is the charge for delivering the car to the showroom from the factory. You might not be able to get this added to your deductible but you can try. Negotiate the price till you are satisfied.
Trade in your Old Car
Make sure that you trade in your old car when you are buying a new car. There are chances that the dealer you are buying your new car from will not give you the right rate for your trade in. this is because he will try to recover this discounts from your trade in. The best way to avoid this is by selling your car beforehand to a separate dealer and then using the money as a down payment for the new car.
Checkout New Cars at the End of the Month
Most dealers and salesmen are under pressure to sell their quota and much more at the end of the month. They also get incentives and percentages of every sale that they make. As a result, they will be more likely to take you seriously when you approach them with your financing in hand to buy a new car. They will also be more ready to push in a sale so that they can meet their end of the month sales requirements.