Step 3: Buying Your New Car at the Dealership
Before we go any further let’s make one thing really clear! Your ultimate goal is to go to the dealership and negotiate your best deal on a new car.
You DO NOT Have To Buy a Car Today!
This is the most important advice you will receive on this website! If you feel at any time the numbers have changed, the interest rate is wrong, the terms of the loan are higher then they should, or they are stuffing extras in your contract… exercise your right to get up and leave!
Do not allow them to rush you through the paperwork, up sell you extras, switch you to a lease, or anything else outside the scope of your car buying blueprint.
If you feel uncomfortable, tell them that you need a break and go home or out to lunch to regroup.
Preparing for your trip to the dealership!
- Make an appointment – Tell them to have car(s) ready for test drive when you arrive
- Have all your paperwork – invoice pricing, emails from Dealer, credit report, bank financing etc…
- Info on your Trade In – Kelley Blue Book, service records, title etc…
- Print out of Finance office tricks to watch out for
- Car insurance info on car
- A good meal in your belly
- A positive and upbeat attitude
- A back up plan if things go wrong with the deal
Keep Good Notes and save all emails!
Bring a pen and notepad with you and write down notes, prices, stock numbers etc.. This sends a direct message to the sales rep that you are prepared to do business and have done your homework.
There are so many details, and car salespeople may forget what they told you, so take notes, write down names, and print out all emails you receive. This allows you to show the dealer what information they gave earned your business.
Keep a back up of all emails from Dealer #2 also, because if you start getting the runaround from Dealer one, you can leave and go to dealer number 2.
Write down the salespersons name that you deal with so if you go to the dealer you know who you are dealing with and they will already have your information on file.
If you just show up you will probably end up with a floor salesperson and will have to start from scratch. Bring any emails you received as well as your invoice copies from Kelley Blue Book.
Go Back To the Car Buying Blueprint
Part of our car buying Blueprint includes 3 important areas once you are at the Dealership. Print them out and bring them with you to read over as you negotiate your deal.
Important Car Buying Tip! In the negotiating part of our Car Buying Blueprint, we discuss the four parts of the deal.
Price, Monthly payment, Trade in, and Down Payment. Stay focused on the price! If you took our advice you already know your interest rate, length of loan, and monthly payment based on a price.
There are many tricks a car salesperson will use to get your focus off of the price. One really slick trick is to come to you with a high down payment (20%) where they tell you most lenders prefer this. This is where they get you to focus on down payment and forget about the price.
Do not fall into this trap! Tell them you will be using your lender because you already have terms that do not require 20% down.
The price of the vehicle minus your trade in and (or) down payment and any rebates determines the final cost of the vehicle. Stay focused on what you will be paying for the vehicle and make sure everything is subtracted from the agreed upon buying price.
DO NOT Be a Monthly Payment Buyer!
Classic question… “So, how much a month would you like to be at?” or “What is the absolute highest per month you are willing to pay?”
If a car salesperson can get a buyer focused only on what monthly payment they want to stay around, they can work numbers in a deal to fit that payment.
A strict monthly payment buyer will always pay too much for a car because he does not focus on the price, interest rates, or length of loan.
Let the selling price, interest rate, and terms of the loan determine your monthly payment, and use the numbers from your bank to keep the dealer honest!
If they are moving the numbers around, speak out and let them know you will leave and go to another dealer!
As the car buying process unfolds you must remain in control of the process. Do not get caught up in a long drawn out process. You know the details because you did your homework ahead of time.
Remember… You DO NOT have to buy if they will not work with you! Get up and leave, no threats or arguments, just leave!