Do you cringe at the thought of seeing a car dealership to buy a new or used car? Most dealerships now have an “Internet sales division” using its own sales manager, so it is possible to research and negotiate purchasing a car from your couch brighter and faster than ever before. Here are some tips to help you buy your next car online:
Find the right car for you
Many people already use the web to determine what type of car they want and learn as much as possible about the make, model, and accessories for your vehicle, for example if you want an ironman bullbar for your new car!
When buying a car online take into consideration budget, lifestyle, fuel economy, size, space, seating as well as the cost of ownership, and if you want added on accessories like ironman bull bars for your bush bashing drives, or a gps navigation for your car if you are not great with maps! When you have a car in mind, you will still have to see the local merchant for a test drive.
Research the value of your trade
Knowing the value of your trade and being open to other ways of liquidating your used car can provide more money toward the new car’s purchase price. Trade in your used vehicle in the dealership where you are buying a car, and remember to remove all your accessories including any multimedia installation prior to trading your car. You can also compare offers you get from a guaranteed value you can get for your trade at engaging local dealers, employing the Trade-in Marketplace tool on AutoTrader.com, a site for buying and selling new and used cars.
Search your make and model online for availability and price on private-party sale sites like eBay and Craigslist. Sell to a used-car dealer such as CarMax. Do not just fall for the convenience factor and trade in your used car at the dealership, where you will probably receive the lowest amount for this.
Get funding squared away
Never assume dealer financing offers at face value when purchasing a vehicle. The advertising is supposed to attract you, and lots of buyers might not be eligible. Check your neighborhood bank, credit union, or Bankrate.com auto-loan comparison tools, and apply online for a preapproval. When it comes to funding, focus on the yearly percentage rate, or APR, rather than the monthly payment.
Contact dealerships, collect price quotes
After your online research is complete, contact the dealerships for an online price quote. Whether you complete a site contact form or you email the Internet sales department or supervisor, you’ll be reaching somebody who has the ability to quote you a price. Be as specific as possible with make, model and options, and ask several dealerships for their very best offer. As soon as you collect some answers, compare them with your investigated cost ranges and to each other to determine which is better.
The Internet price haggle
If none of the initial price quotes you get fall within your range between the fair market value and invoice price, you can throw these two numbers back in the dealers and again request their very best price. When assessing any price quotes, be sure they are itemized in an email, and remember to inquire whether any additional charges are withheld or included in price quotes. Things such as “customer service charges,” choices and add-ons, which are negotiable and may be eliminated, can tack on tens of thousands to your overall car cost. If one dealer provides you with a price that you prefer, you can email the quote to a different dealer to get competing bids, particularly in the event that you understand just what each cost quote includes.
In this beginning stage, never quote your minimum monthly payment budget to a car salesperson. This allows him to pack anything he can into that payment and satisfy your budget. Don’t mention your trade-in or some other funding when purchasing a vehicle. These factors give the salesman leverage to negotiate these factors for his own best interest. Instead, stay focused just on the actual cost of the vehicle to bring it down.
Trade-in and funding
As soon as you’ve agreed on a price with a couple of dealerships, negotiate the trade-in and funding. Simply ask the dealer their very best offer for your trade. You also can opt to mention AutoTrader.com’s trade-in worth at participating dealerships. As soon as you receive quotes for your commerce, compare them with each other and decide to sell independently. Next, it is time to inquire about rebates and financing incentives. If you have a coupon or preapproval from your creditor, you can mention those because it is like being a cash buyer — accepting down and financing payment from the trader’s profit equation. Ask if the dealer can give you anything better. If you are eligible for the zero percent financing, control the bargain, and assess any other rebates or incentives, then you need to take the deal.
Signal and drive in the dealer
By now, you should be working together with the dealership that has the vehicle you’re purchasing and has negotiated the best bargain. At this final stage, you still have to see the dealership to finalize the bill of sale, sign any necessary financing paperwork, and pick up your keys and vehicle.
