New Car Buying Power

Saturday, October 19, 2013 posted by Martin
Good Luck Engraved Stones

Good Luck Engraved Stones

Here are some ideas to consider when you need a new car but finances are tight.  Remember, information is power.  Here is the technique to use to get the best price and messages of encouragement.

First, consider a slightly used car.  Often, dealers have a loaner car with about three to four thousand miles on it.  They sell them before they get high miles because they can sell it for a little less than cost.  How much less?  That depends on how well you negotiate.  Second, know your numbers. Obtain a car report from Consumers Reports or elsewhere showing the dealer’s invoice and any incentives available to the dealer and the buyer.  Make sure you are flexible on brand, model, color and equipment.  Get a CARFAX report on the vehicle. Don’t negotiate from the MSRP.  Negotiate from dealer cost.  Also, remember that the dealer gets a holdback later on equal to about 2-3%.   Also, buy on the last day of the month or quarter.  The dealer gets large bonuses when they meet quotas.  Sometimes they can sell below invoice to get the bonus.  Good luck.

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