Buying a new car can be a very long and time-consuming process; often, you already have a car in mind, and the next step is just to get it at the best deal, with maximum savings in mind. Sometimes, however, you’ve narrowed down your choices to the top three or five, but still can’t quite make up your mind. Regardless, finding the model you like, and getting the best deal for a brand new car all comes down to tracking down a local car dealership in Canada that’s prepared to present you not only with your top choices, but also the hottest deals on the market.
Here’s how you can get the best deal from your local car dealer for the new ride you really like:
When you walk into a dealership to assess your options of new cars you like, part of getting the best deal is choosing a car that’s available right away. Some dealers may try to sway you, presenting you with another option that’s available right away, or upsell you on waiting a bit to bring in the exact new car you like from another dealership.
Both scenarios are not ideal; you can either end up with a car that isn’t your top choice, making you less happy with this long-term investment; or, you’ll end up paying more to cover the cost of transport. So once you’re set on a model you want, start negotiating for the best deal on this new car, and stick with it until you arrive at an ideal price.
Make First Offer
Making the first offer in a negotiation is always recommended. It gives you the flexibility to decide on an offer that fits your budget, but be prepared that the first counter-offer will be a very high markup. This also puts you in control of the negotiations and actively making decisions in creating better deals.
But before making the first offer, it is very important to do your research on the car, so you can expect the discount you should be getting. Some researching methods include reading car reviews, doing car comparisons, and when you’re set on a model you like, getting a free dealer invoice so you have an idea how much margin the dealer makes, and negotiate from there.
Do a Price Check
If you’re buying a used car, it’s crucial to compare the market value with the price they are offering and make sure to check for any possible problems for the car so you can decide if you still want to buy it or push the price down even more.
Getting the best deal for a new car, however, involves more steps, but all definitely worth the work. The key is getting a free dealer invoice price report for your preferred model. This report will give you all the details you would need for you to make the best offer. It provides you with the following information: the markup of the model, any current incentive offers, how much the dealer paid, and all the hidden factory incentives and rebates you’re actually entitled to. All these costs accrue to the dealer’s margin, so by knowing exactly how much leeway they have in negotiations, you’ll know up to how much you can bargain for.
Now you are ready to call any dealerships. Make sure that you are showing a sense of urgency and that you intend to visit another dealership if they cannot meet your target price. Cars are developing into a need in the modern day world, which makes the automotive industry very competitive. Usually dealers would try their best to keep their customers knowing that they would potentially walk away.
Shopping around for a new car? CarCostCanada will provide you with our free dealer invoice price reports to help you get the best deals for the newest models in Canada. Call 1-866-453-6995 to learn more.