Why You Must Shop Your Trade-In to Multiple Dealers
Most car buyers lose out hundreds, if not thousands of dollars when they trade in their car. Why? Because they don't take the time to figure out what their car is worth beforehand. Dealers know this, and they have specific tactics to make you think you're getting a good deal when in fact you're getting ripped off.
The only way to know the true value of your used car is to shop it around to dealers.
This process does take some time - usually about half a day - but it's worth it. Most people are lazy and can't see that half a day's work may result in a week's pay.
If you don't find out what your car is worth before you try to trade it in, how do you know if you're getting a fair price for it? It's impossible. This is why there's so much money that could be saved during this process - most car buyers just don't want to deal with the hassle.
If someone paid you $1,000 to call and visit a few dealerships, most of you would take that offer. Why not do it when you actually have the opportunity?
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