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Does Your Car Buying Strategy Save You Money?
By David Redfoot | May 23, 2009
Why do you need a car buying strategy? If you don’t have a plan for where you want to go, you will end up exactly where the car dealer wants you. And that means more profit for him and greater cost to you.
You need your own end goal in mind. The dealers focus is reaching his monthly sales quota. He wants the maximum profit from each customer. He’ll want you to take the options and extras.
Finance through the dealer, service contracts, GAP insurance etc may be a better deal for him than they are for you. You need to plan ahead and know what alternatives are available before you go to the car lot. Know what model and what features you want.
The next part of your car buying strategy is to know when to look. New models are released between August and November. Just before then is your chance to get the current model at a discount. The dealer needs to get old stock off his hands.
The end of the month is the deadline for sales targets. The pressure is on them to sell, not on you to buy. Look like you’re going to leave and they just might be able to save you an extra fe dollars to get the deal.
On weekdays, there are fewer shoppers around. The dealer will be more anxious to make the sale. If you are the only potential customer, he doesn’t want you to walk out. You can always do that if you don’t like the offer.
It’s a big commitment to buy a car. You don’t have to rush into it. But it’s exciting too and it’s easy to be swept along by emotion. The salesman knows that and will try every trick in the book to play on it. He try to convince you that this deal is only available today. It’s not true.
If you feel uneasy about the contract or there is too much pressure to sign, leave. You always have that option. There will always be other opportunities to get the same or better deal on the model you want.
Have your car buying strategy prepared and you can take away the salesmans home field advantage. Every penny counts these days. Get the car that is right for and for the best possible value.
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