Score the Best Deal on Your New Car - Here's How!

To get the best deal on a new car, key strategies include thorough research before visiting a dealership, getting pre-approved financing, comparing prices across multiple dealerships, knowing the true value of your trade-in, negotiating the price firmly but respectfully, and being prepared to walk away if you don't get a satisfactory offer; remember to factor in incentives, rebates, and current market conditions when making your decision. 

Key steps to take:

• Do your research:

• Compare models: Research different models within your price range to understand features and market value.
• Check online pricing tools: Use websites like Texas Bay’s Find a Car, Edmunds, and Kelley Blue Book to get an accurate estimate of the car's fair market price. 
• Find current incentives and rebates: Check manufacturer websites for current deals, including cash-back offers, lease deals, or special financing options. 

• Get pre-approved financing:

• Shop for loan rates: Compare interest rates from different lenders like Texas Bay Credit Union before visiting a dealership.
• Know your credit score: Understanding your credit score helps you negotiate better loan terms.
• Get Pre-approved: Walking in with financing in place puts you in a better negotiating position. It also provides you with the amount you can afford.

• Visit multiple dealerships:

• Compare prices: Get written quotes from different dealerships for the same car configuration to find the best price.
• Check dealer reputation: Read online reviews to choose a reputable dealership.

• Negotiate effectively:

• Focus on the final price: Don't get sidetracked by add-ons or extended warranties until you've agreed on the car price.
• Be prepared to walk away: If you can't reach an agreeable price, don't be afraid to leave and consider another dealership. 

• Know your trade-in value: 

• • Research: Visit various online sites, like Kelley Blue Book and Edmunds to help determine your current car's value before using it as a trade-in.
  • Negotiate: Visit multiple dealerships to get the best trade-in value for your car.
  • Clean Car = Higher Value: Get your car detailed before shopping it around. Well-maintained cars get a higher value.
  • Fix known problems: If you are aware of mechanical issues, get them fixed. These can drag down the value of a car.
  • Time your trade-in: The first two quarters of the year tend to be better for trading in because buyer demand tends to be higher and dealers need the vehicles on their lots to accommodate demand.

• Consider other factors:

• Delivery fees: Negotiate delivery fees if possible.
• Dealer add-ons: Carefully review any additional dealer-installed options and negotiate their price separately from the price of the car.
• End-of-month sales: Dealerships may be more willing to negotiate at the end of the month to meet sales goals.

Important points to remember:

• Be confident and assertive: Know your market research and be prepared to negotiate firmly.
• Don't rush: Take your time to compare options and make informed decisions.
• Ask questions: Clarify any doubts you have about the car, price, or financing options.
• Be transparent: Inform the salesperson about your budget and desired features upfront.