How to Get a Great Price on Your Next Car
02/12/2018
Thinking of buying a car? Want to make sure you get the best price? Here are a few tips to help you find the right car at the best price.
Know the real price of the car. Use websites like Edmunds.com, Kbb.com (Kelley Blue Book), and carsdirect.com to find the actual value of a particular make and model. If you’re looking at new cars, find the invoice price (what the dealer paid for the car) and the manufacturer’s suggested retail price. If you’re looking at used cars, find the wholesale price and the dealer’s asking price. Also look for current rebates. Knowing this information will help you during your negotiations with dealers.
Comparison shop. Use online resources like TrueCar.com and Cars.com to compare the prices at dealerships in your area. This will save you time and gas money.
Buy “off-season.” Peak demand for cars is in the spring and fall, but if you want to find a bargain, shop for a car in December and January when the prices are lowered. That’s when dealerships are eager to move the inventory off their lots to make room for newer models.
Look for discounts. Check the automaker’s websites under their “current offers” webpages. Many offer discounts to students, and military service members. Deduct these discounts after you negotiate the price with the dealer.
Get an Atlantic Blank Check. After you do your research and before you head to the lots, talk to an Atlantic Consumer Loan Specialists about the Blank Check Approval. A blank check means more negotiating power for you. The process is simple! Just apply for your auto loan, with Atlantic, over the phone, 800 834-0432, or online. We’ll help you get pre-approved. You will then receive your blank check, issued for your pre-approved limit. Put the check in your pocket. Negotiate your best deal, knowing you have the check to complete the sale.
Don’t settle for dealer financing. Since dealers get a commission or flat fee for every loan they coordinate, he or she will probably try to get you to finance through the dealership. There are better options. Talk with a Consumer Loan Specialist at Atlantic Federal Credit Union and let them help you find the best financing option.
Cash Rebate vs. 0% Financing. Some dealerships lure customers by offering a cash rebate or zero percent financing. Typically, only 10% of car buyers qualify for these incentives, and you may find you don’t qualify. Even if you do qualify for their incentives, you’ll likely save more money per month by taking the cash rebate and getting your loan through Atlantic. Call us and one of our Consumer Loan Specialists can show you the best choice. The zero percent option is rarely the best deal.
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