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Car buyers make these mistakes all the time.
A car dealer's insider tips: What not to do when buying a new car
It's ok to be apprehensive about negotiating with a car dealer — after all, it's how they make their living. But knowing more about how the process works will arm you with information that will help you get into a new car and out of that dealership without making a big financial mistake. Shopping for a new or used car doesn't have to be the kind of nerve-jangling roll of the dice that it historically has been. For one thing, we have some very helpful tools so you can figure out exactly what you want — and what you should pay — before you even leave home.
Showing up to the dealer with a good idea of what the landscape looks like will give you a huge confidence boost.
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Here are a few things to do before reading the rest of this article. Compare the vehicles you're interested side-by-side with our Car Compare tool.
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Check out our New and Used car listings to find a couple of likely candidates near you. But once you've found what you're looking for, you still have go down to the dealer to negotiate. With that in mind, we spoke to both an AAA car-buying expert and an auto dealer to find out what NOT to say once you're in a dealership showroom. And, of course, what you should say! Once you start talking about monthly payments, everything gets confusing, because suddenly you don't know if that's the payment for 24 months, or 36 months, or how much of that would include interest charges if you're financing the purchase through the dealer.
So we'll call him Bill. If we can get you to commit to a longer payment structure and we're doing the financing, we're making more money off you in interest payments. So it probably also is not in the buyer's best interest to mention right up front that he or she has a car they want to trade in. Because once we know that, we know you're looking to get as much money as you can out of the trade-in. So in that instance, you'll probably end up paying full MSRP for your new car.
You will almost always get a better price for it if you sell it than what a dealer will give you in trade-in value. The seven important tips for buying a car aren't limited to just timing, but also when is the best time to buy a new car versus a used car. We also lay out key pitfalls to avoid when making your purchase. Whether you are just beginning your search or ready to buy a car tomorrow, read these seven tips on when and what to buy—and what to avoid.
Here's the best—and worst—time of year to buy any kind of car.
The good news for you eager folks out there, we are elbow-deep in the best time of year to buy a car right now. It also happens to be one of the best times to buy a car. Manufacturers are actively trying to woo you into buying a car. Towards the end of the month, dealers are always trying to make their monthly sales numbers. They are typically more apt to cut you a deal on buying a car to hit their sales targets when they know they are only a few cars away.
Not only are the last few days of the month great but if that month happens to be the end of a quarter it can be one of the cheapest times to buy a car. This really gets kicked up a notch at the end of the year. There is no tomorrow for you to buy a car. Dealers want that metal moved before next year. This can lead to desperation for dealers still holding new cars from the previous model year. That makes the last week in December arguably the best time to buy a new car.
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You may even want to buy yourself a car for Christmas, according to Time. So why not treat yourself this holiday season? Does that mean buying a car should wait a whole year? There are other times which rank right up there with the best time to buy a car.