How to successfully buy a new car...

I'm not good at a lot of things but one thing I am good at is buying stuff. Sometimes I buy too many things, but no one can ever say that I am not an admirer of the "art of war" when it comes to purchasing. So much in fact that I don't really see why I don't just give up the day job and do this for a living. But we're not here to talk about me, lets get on with the real reason I am here today ladies and gentlemen. You and your money! Now if you would please input your credit card information below you will receive the advice of a life time for the great low price of $99.95. This is a limited time offer folks and yes we can easily break that down into three easy payments of $39.95. 

Ha! I got you.... 

Now moving on. I've recently made a string of car purchase over the last couple of years and done quite well for myself and most recently my Mother. And if there is anything I learned it is these tips I am about to share with you:

1. Know your bottom line, and know what you want versus what you can afford. One, if not THE biggest mistake anyone can make when buying anything is to neglect the time it takes to put together some research. Come on folks! You gotta know what your buying. The reviews, the ratings, the pricing, the market value, and the cost! How do you ask? Google my friends! We live in a world full of information at our fingertips (literally your fingertips, get it?) Truecar.com and KBB among others offer the true market value of cars and what they are selling for. Some places even give you the invoice of what the dealers pay. Make sure your know the rebates, interest rates and how the car compares to other manufactures and even how much other dealers are selling them for.

2. After your research you need to determine how much you are willing to spend. Write it down and for your wallets sake know more about the car than the sales guy. Most of these guys are young and don't know a lot about the cars they are selling. So gain the upper hand. But never reveal that you know more than they do until they start to talk pricing. Go ahead and let them come back to you with their "best" offer. Once they do, that's when you let the ammo fly. Tell them about the safety rating compared to the competitor. Make sure to tell them how much Bob is selling there car for, etc. etc. Let them know that your not just someone off the street here to browse. Your here to buy a car and you want that car today! But your not paying more than X amount for the car (generally about 500-1000 under invoice) and that's that. By the way don't expect them to roll over without a fight. Buying a car at the best price is not an easy task, it takes patience and strategy. Trust me if you know your stuff, all that time spent "talking" is the dealer looking up all the info you just told them. 

3. Be confident and be willing to walk away and make sure they know you will. After talking money and pricing don't always expect them to just say ok. You have to let them know that they need to sell the car more than you need to buy one. You can buy your car from any dealer and your the one with the upper hand, it's not like they have people knocking down their door behind you. But not everyone will be willing to work with you. You almost have to make sure you have the right dealer and the right salesperson. 

4. So, your at the dealership and you've done your research and they ask you how much you want your payments at? Wrong! You don't care about payments you only care about the bottom line! With the right price your payments will be where you want them because YOU have already determined how much your paying. Dealers can manipulate the numbers all they want to get your payment where you want. But if you decide your only paying 20k for the car, then that's what your paying! 

5. Play hardball, it's YOUR money!

6. So you got the car you wanted with the features you want at the price you want right? Did you research the interest rates they are offering? Good, so you know they are offering a special rate with well qualified buyers right? Oh your not a well qualified buyer? Your just a fool with too much money! 

You think just because your in the finance office that you don't possess the buying power anymore? The finance guy is the dealers last line of defense. They will try to convince you that you have to pay X rate. If it ain't what you want. Walk away! I promise you will get the rate you want or at least close to it. Tell them you want that 2.9% or 0.9%. Now I'm not saying you'll get it, but I will say that there is always wiggle room. Heck they will even lower the price of the car again to get you where you want to pay. The finance guy is where you decide your payment terms, do not let him trick you!

Disclaimer: if your credit just sucks I can't help you. But if you have good credit (see research section above, DUH!) and you know you can get a better rate, tell them. Tell them your gonna shop around and see what you can get and see what he says. If he says he can't help you then you have to decide how bad you really want this vehicle but believe me the last thing he wants is for you to go through some other bank. The finance guy makes his money off your money, that and service plans and gap insurance and all that. 

7. Trade in, my best advice it to never let them know right of the bat that you no longer want your car. Tell them your just shopping around and may sell it our right. They want your car! They can sell your car at a profit and believe me they want too. But before you trade it in, first you need to get the real market value on your car and be honest. If its a neglected clunker then you may not get much. But make sure you check the KBB trade in, and find out how much similar cars are selling for. The dealer will try to tell you he can only give you what they are going for at auction and he has to put all this money into it, blah blah blah. Guess what that is like what I tell someone when I am BS'n only I say: 

"Let me talk it over with my wife"

Determine how much you are going to take for your car before you get there. If the KBB is 7000 and you were honest. Then guess what, tell them you want 7500. Now if your car is worth 5k and is only selling for 6k on the market, your not getting 7k. But if its selling for 9k....stick to your guns. 

8. Basically my best advice it to do your research, determine your spending power, and hold firm. Don't be scared to walk away, and certainly don't be scared to shop around. Not every dealer will give you the right price, you have to find the ones that are hungry for it. 

Just tell them straight up what your gonna pay, don't haggle. 500-1000 under invoice is about what you can get a car for these days, dealers get there money off kickbacks and they never never sell at a loss! Make sure you get all the rebates your qualify for. Don't let them tell you that they can't because guess what. They can! 

My favorite line is this: "you need me more than I need you, so lets just make this happen so we can all go home happy!"

Let me know if you have any questions, heck let me know if you want me to work your next deal. Good night!