The Dealership Experience – Plan to make multiple visits, preview available vehicles, test drive, ask for a quote, negotiate your trade-in allowance, research your selected vehicle, finalize negotiations, arrange financing, and take delivery. Avoid aggressive sales tactics.
The Five Sources of Dealership Profit – Knowing how a Dealership makes a profit is the first step towards negotiating a better deal. A Dealer can profit on your vehicle purchase, trade-in, add-ons, warranty, and financing.
The Lemonade Stand – Competition between Dealerships is fierce! Although we have our favorite vehicles, there are many available that will meet our needs. Dealerships want your business!
Negotiate a Better Deal – Most of us are great at getting what we want, yet we don’t think about the underlying principles of negotiation. There are negotiating situations to avoid and there are negotiating strategies that can save you money.
> Negotiate the Trade-In Allowance – How much should you receive for your trade-in vehicle? Again, doing your homework and having a “target” amount is an important advantage. Should you sell your car yourself?
> Negotiate the Cost of A Car Loan – What should your interest rate (or APR) be if you have excellent or good credit? What should your APR be if you have less than perfect credit? Do you really need to read the loan agreement?
>> Know Your Credit Score – Your credit score is a primary key to determining the interest rate (or APR) for your car loan. Other factors affect your APR. Are you a prime borrower? Are you a sub prime borrower?
>> Know Your APR – Why is the APR more important than the monthly payment amount? The interest costs on a five year loan can be substantial, especially for those with less than perfect credit.
Some will pay more, some will pay less. We want you to pay less.
"Helping individuals purchase and finance vehicles in a competitive market"