New Car Buying
Advice
Negotiating a New Car Price
There are several steps involved when negotiating at the car
dealership, getting the best price on a new car, trading-in you used
vehicle, and financing. It is very important to keep all of these
issues separate. Deal with each issue independently so not to
confuse the final price of the new car you plan on purchasing.
New Car Price Quote
Remember to take along your new car price quote. Although this
represents the car dealers lowest possible price on a new car and
should include any dealer rebates and incentives offered, there is
always room to negotiate a better deal. Auto manufactures often want
to get rid of slow selling cars or reduce inventory, therefore they
offer cash rebates or low financing deals. Even with a great new car
price quote, negotiate on the price.
Buying a New Car
below Invoice Price
If the car dealer sells you a car at the invoice price, he will
still make money from the deal as the manufacturer refunds a certain
percentage of the car's price to the dealer. This is known as car
dealer hold back. The car dealer holdback is a specific percentage
of the car's price that is credited to the dealer's account
periodically by the manufacturer and reduces his cost by as much as
2-3%. This can start to add up significantly, 3% on a $20,000 car is
$600. The dealer could sell you the car at his invoice price and
still make $600 profit. Ultimately, if you end up buying a new car
for $100-$300 over dealer invoice price you have a great deal and
the car dealer has made a fair profit.
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Bad
Credit Auto Loans - Even with bad credit you can still get
approved for a great auto loan.
Auto Loans - Get the facts on auto loans and how to get
the lowest APR loan rates.
New Car Loans - Compare interest rates and decide what
car loan
is right for you.
Used Car Loans - We can
help find you the lowest interest rates on
used car loans.
New Car Buying Advice
- Learn how to negotiate with car dealers to get a better deal.
Buying a New Car - Our guide offers sound advice
to follow when buying
a new car.
Buying a Used Car -
This helpful guide will show you what to look out for when buying a
used car.
Buying Versus Leasing -
Should you buy a new car or lease? We help you make
the right choice.
Auto Loan Glossary
- Terms and definitions
used in lending and
auto loan financing.
Finance Resources - Links to financial
websites that deal with
credit and debt related issues.
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