Regardless of whether you want to get a new or a used car, it’s crucial to be able to negotiate at your nearest car dealership; this means having the confidence to challenge salespeople with facts and figures about a particular model, while also being able to negotiate down to a better price. At the same time, it’s important to take advantage of different financing options available at dealerships, while knowing when you should exit a sale that’s not going to benefit you.
New Cars
Haggling at a dealership is all about having confidence, and knowing the marque that you’re buying in depth; research prices, and know how much room you can have over a price. Presenting this information to a salesperson can put you in a much stronger position when negotiating, and can allow you to see through the margin that they’ve placed on a car. Moreover, look for bargains when registration plates change in March and September, and don’t be afraid to ask direct questions about bonus features.
You should also ensure that you explore all the options available for new car financing and hire purchase agreements; these are typically offered by authorised dealerships, and can be more cost effective than buying a car outright. For example, you may be able to get a deal at a Cooper MINI Dealers by agreeing to a low interest hire purchase agreement, or to a part exchange with your current car.
Used Cars
When buying a used car, it’s also important to go into as much detail as you can with your research into a model. Know whether any other local dealerships are offering the same or similar models, and check to see whether you can find a lower price online. Don’t take the first price that you’re presented with, and remember that the mark up value can be flexible – if a dealer has added a 20 per cent margin for themselves to a used car, consider bargaining down to 15 per cent.
Similarly, be prepared to take the time to look around for different bargains; a few different test drives of the same car can enable you to spot any problems that might be used to drive down a price. When offering a price to a dealership, you can also focus on building up your offer in increments, while still sticking to a budget. Even though a salesperson might try to give the impression that they’ll lose money, chances are you’re just cutting into their margin. Ultimately, buying a used car should have some degree of flexibility and negotiating room.
Doing as much research as you can, and exploring the financing options available from different dealers can, then, give you an advantage when looking for bargains. It’s worth comparing as many dealers as possible, while considering the benefits of authorised dealers if they’re prepared to offer you long term after care and warranties; these schemes can offset a slightly higher initial price tag on a car if you can eventually save money on maintenance.