Always Negotiate Your Trade-in Separately
They know most car shoppers are mainly focused on the new car and don't do much research on the car they're trading-in. This is a HUGE mistake!
The main tactic dealers use is to bundle the trade-in with the price of the new car. They will give you a great price on the trade-in (over the Blue Book value), and you think you're getting a great deal. What you don't realize is the dealer just jacked up the price on the new car.
By the time the deal is done, you're left confused with all the numbers and think you got a great deal, when in fact, you got ripped off. The way to prevent this is to separate your trade-in negotiation from the new car purchase.
Always shop your trade-in and negotiate its price with multiple dealers before negotiating the price of your new car. This way, you'll have a much better idea as to its real worth, rather than relying on the offer from one dealer.
If you have a late-model used car that's been maintained and kept in good condition, you have a gold mine in your hands. Don't short-change yourself by agreeing to bundle the trade-in with the purchase. This is one of the oldest tricks in the book, and since you're browsing this web site, you should NEVER fall for it.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid