How to Get the Best Car Deals

Best car dealsOn this web site we write about promotional car deals and incentives being offered month to month by car companies and their dealers. The deals are usually well worth customers’ consideration and better than deals they could negotiate for themselves.

These deals come in the form of cash-back rebates, bonuses, low-interest loans, factory-to-dealer cash, and special lease deals and usually change from one month to the next. A particular vehicle may be a good deal one month and no deal the next.

The downside of this method of finding good car deals is that if you are looking for a certain vehicle make, model, and style (trimline), there might not be any incentives on it in the month that you would like to buy or lease. And there’s no way for you know to if there will be incentives offered if you wait a month or two, or ever.  Car companies rarely offer special deals on every model and trimline. Some hot selling vehicles may never get incentives.

So, how is it possible to get the best car deals when there are no manufacturer’s deals are being offered on the car you want at the time you want it?

If a dealer’s car company is not offering incentives such as rebates and low-interest loans, then there is only one thing you can negotiate – price. A dealer can give up part of his normal profit by discounting price to customers. This applies whether a you pay cash, buy with a loan, or lease. The money comes from the dealer’s pockets, not his car company’s.

Since many dealers mark up loan interest rates by  about 2% for additional profit, you might be able to negotiate some or all of that profit — if you know the mark up (reserve) exists and the percentage – almost impossible. It’s easier to compare a dealer’s rate with those of local banks or credit unions.

Fortunately, dealers are very competitive and want your businessand are willing to offer discounted prices, often without a fight. The Internet has made it easy to shop for car prices without leaving your computer.

Use the following online pricing service to find the best dealer prices in your area:

Edmunds

The price quotes are free and there is no obligation to accept any of them. Make sure you get as many quotes as possible so that you have plenty of choices from which to pick the best deal. If you get a quote from a dealer that you would like to do business with but his price is not as good as another dealer’s, show him the other dealer’s quote and ask him to match it.

Be sure you always negotiate price, not monthly payments, even for a lease. You should already know how auto loan payments  and lease payments are calculated so that you can find your own monthly payments after you know price. Use web resources such as Auto Loan Calculator and Lease Payment Calculator to do your calculations.

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