Top 10 Tips for New Car Buyers: Competition Is Key

July 8, 2010

Car buying has changed significantly over the past 10 years. In today’s market, consumers have multiple options for everything they buy. As a result, it no longer makes sense to walk into a single dealership and haggle with just one salesman. According to, in order to get the best deal on a new car, you must make sellers compete. So in the car buying tips below, pay careful attention to the recurring theme of “competition”.

Top 10 Tips for New Car Buyers
1) Get competitive price quotes from multiple car dealers. When car dealers compete, the price you pay goes down.

2) Do not feel obligated to buy where you did a test drive. You can give that dealer a chance at your business, but buy from whoever gives you the best price.

3) Find out what deals other people are getting and learn how to set a good target car price.

4) Be flexible and consider more than one make and model. This will give you more options in terms of price and accessories.

5) When budgeting, understand all the costs of car ownership for different types of cars. This includes gas mileage, average maintenance costs, insurance premiums, and residual value.

6) Shop your trade-in around and get competitive offers. Check with used car lots and online services like autotrader. See who will give you the best price.

7) Get competitive financing offers before you go to the dealership. When you are in the Finance Office, ask if they can beat your best outside offer.

8) If you’re considering an extended warranty, get competitive offers online and do not buy from the dealership. This is one of car dealerships’ highest margin items.

9) Get competitive insurance quotes from multiple providers.

10) Remember, when car dealers are trying to earn your business, everything is negotiable!

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