4 Ways to Get the Lowest Price on a New Car

Jeanne Sager
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car lotSorry Detroit. Nobody wants to spend more than they have to on a car, and in this economy you don't have to. 

Despite the dismal outlook on the market, a Consumer Reports study this past spring found more than half of the respondents felt more empowered to haggle with the car salesman on a new ride.

Don't think you can do it? The Stir asked Shawn Tucker, auto analyst at AutoTrader.com, for some can't-fail tips on negotiating a cheaper car:

1. Take Your Emotions Out of It -- "Approach it like a business decision and if the numbers aren’t working out or you don’t feel a deal is in your best interests, be prepared to walk away," Tucker says. "That’s hard when you’ve fallen in love with a candy apple red sports car or you’ve found an SUV with the perfect number of cup holders." 

2. Hit the Web -- "Find out what other cars out there might fit your needs and what they are priced at," Tucker advises. "If you can show a dealer that you know a similar car to the one you want on his or her lot is available in the next town over for $500 less, the dealer may be willing to cut you a deal to sell that car vs. risking you going to the other dealership."

3. Buy Off the Lot -- "You may have more wiggle room on pricing with a vehicle that’s already on a dealer lot than one you’re ordering," he explains. "For the dealer, every car currently on the lot is taking up room that could be used for another car, so dealers are keen on keeping their inventory moving."

4. Make Concessions -- Giving up on some features -- especially when buying an on-the-lot car -- will keep the price down. And it could help the salesman move inventory. The same goes for opting for a used vehicle. "Give a little wiggle room for things you may want but not need -- e.g., you like one color more than another or you just love music so you must have a great sound system even though no one actually needs a great sound system," Tucker notes.

Do you get nervous when negotiating?

 

Image via Hugo90/Flickr


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