The new year may come with a new car for you or the family. If so, now is a good time to get down to work trying to make sure you find the best car in your budget.
Check Out: The 20 Cars Seeing the Biggest Price Drops in 2024
Consider This: 9 Easy Ways To Grow Your Wealth in 2024
While you may find it uncomfortable to negotiate for a good price at the dealer, there are plenty of other ways to get great deals.
Earning passive income doesn’t need to be difficult. You can start this week.
Do Research Online
Whether you plan to negotiate hard for a good price at the dealer or just want to be sure they’re offering you a fair price, doing your homework can help.
“Today’s car shoppers have more information at their fingertips about vehicles and the car-shopping process than ever before,” U.S. News & World Report wrote. “This information lets you find the exact vehicle you want, know how much you should pay and set up financing before you ever leave your house.”
Be Aware: Mechanics Explain Why You Should Never Buy These 6 Popular Car Brands
Choose the Best Dealerships
Before you head to the dealership, as part of your online research, it might be a good idea to find out how they rank.
You can look at online reviews to see which dealerships in your area seem to be the most friendly to consumers. At the same time, you can check the dealership’s website to see about any promotions or deals. In particular, you may find incentives, like manufacturer rebates and discounts for financing.
Know the Value of Your Trade-In
It’s probably not the wisest move to offer up your current vehicle as a trade-in without knowing how much it’s worth. You can look online at instant cash offers or see what similar cars are selling for from private-party sellers or local dealerships.
“You’ll rarely get the amount dealers sell similar vehicles for, as the dealership’s refurbishment and other costs are built into those prices,” according to U.S. News & World Report. “However, understanding the pricing gives you a good anchoring position from which to conduct your negotiations.”
Decide Your Focus
When you’re going to negotiate or try to get the best deal on a car, there are other areas to focus on besides simply the price.
You may want to consider financing options, including the terms of your loan and the interest rate. The Consumer Financial Protection Bureau reported that dealers don’t always offer you the lowest rate you qualify for. Getting multiple quotes can give you bargaining power to get the lowest possible interest rate, regardless of which lender you choose.
You could also focus on fees, insurance and warranties to try to get an even better deal.
Be Ready To Walk Away
You can set your boundaries before heading to the dealership — and then stick to them.
“Don’t let the salesperson convince you that your boundaries are unrealistic or unimportant, either,” Car and Driver wrote. “If you did your research carefully, you probably know what’s out there and where to find it. Move on if they can’t offer you a satisfactory deal.”
More From GOBankingRates
This article originally appeared on GOBankingRates.com: 5 Things You Must Do To Make Sure You Get the Best Deal on a New Car in 2025
