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Negotiation Tips to Earn You the Best Price on a New Car

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The idea of owning a new car is incredible; the process of getting one is not as incredible. A dealership can be intimidating. So many choices! So many costs to consider! How can you protect you budget!? If you’ve never negotiated a major purchase before, it’s understandable buying a car is met with trepidation. The following tips should help.

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In order to get the best price possible, you must do your homework first.

“Getting a good price on a new car or used car starts weeks before you ever go to a dealer or other car seller. Your goals are to have as much information as possible about the vehicle you want, and have a preapproved financing plan in place,” advises U.S. News & World Report writer John M. Vincent.

Once you have your financing set, the vehicle you want in your sights, and know everything you possibly can about it, then it’s time to go shopping, according to Vincent. You’ll benefit from researching dealerships both online and in the real world.

“You’ll want to budget enough time to test drive the car you are considering and work with multiple dealers to get the best price,” he adds.

Time your negotiation right and you might save big, according to Vincent who suggests figuring out what dealerships are still working toward their sales goals.

Since you took the time to visit multiple dealerships, use the information you acquired to your benefit.

“There are many benefits to shopping at several outlets. Getting price quotes from multiple dealers, and letting each one know that there are other dealers in the game tells them that they have competition to beat,” explains Vincent.

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Finally, when it’s time to negotiate, Vincent stresses that emotions have no place in a business transaction.

“You want to remain polite and cordial, yet firm, when you’re dealing with the salesperson, the finance manager, or the internet manager,” he writes.

News Source: U.S. News & World Report