The Keys to getting a good deal on your next car
Make sure you have the cash in hand. You need to be a legitimate buyer. And one of the keys to buying cheap is in your ability to write a check or get quick approval on a loan today! Not an hour or less before closing though, please. Dealers and salesman have families they see occassionally at home for goodness sake.
Nothing will annoy car dealers and car salesman more than people who grind them down on the deal, negotiating fiercely, pressing for more, finally get to the price they were looking for and then say something like, “Well, we’re going to go shop this deal around. I’ll get back to you.” The ‘Be-Back Bus’ is a lot of BS. It never returns.
You need to be a legitimate buyer when you’re ready to buy. Negotiating is pointless if you’re not ready to make a decision and come ready with cash or credit rating in hand. Remember, get a rate quote from your bank first, but also be ready to complete the credit application at the dealership. It’s important for them to earn as much of the finance business as they can too. And often, even though we don’t let them jack up the rate on you, we grant them a slight profit, and this rate still often beats what your bank provides you. Or at least matches it, and that way, everyone wins. Yes! You need to make sure they’re not jacking up the rate on you, which does happen, but there’s a way to do this and I’ll talk about that part somewhere else.
Remember, though, if you’re in the middle of buying a car, and you need my help, either in person or by email, and telephone, all you have to do is reach out to me and ask. I’ll evaluate your deal free of charge with no pressure to hire me as your expert car buyer, and if that’s all you need, great! We both learn something. If you decide you want to take advantage of my expert car buyer program at that point, I’ll explain how it works, and you can decide if you think it’s worth it. It’s basically free, but I still won’t pressure you to continue.
OK, back to business…
You have to remember that the seller does have to sell cars to keep the business running so that you can come back and buy more cars, have them serviced, eat their popcorn and cookies, buy new tires for winter, etc. They never know when, or even if, the next buyer will come along. Which is leverage for you the car buyer when you know and understand how to use it to your advantage.
As a result, being ready with cash or credit in hand and ready to draw like a committed buyer gets a dealer’s attention quickly. They want your deal today, and they will do what they need to do to get it. Within reason. They can’t give the cars away for free, of course 🙂