Is your vehicle starting to give up or do you just want to change it for a new car? It’s possible, but you’ll definitely have to get your hands on the wallet! You want a good new car plan? Then discover our 8 tips to know in order to lower the price of your brand-new jewel.
1. Know your budget
Fantasies and daydreams aside, it is essential to determine your needs as this will allow you to direct your research. How many children do you have? Do you drive a lot? Do you have a dog that you often take with you? Does the size of the trunk matter? These are all questions that will allow you to narrow your list down to just a few models.
2. Visit the Motor Show
And yes, the beginning of the year is undeniably the beginning of the Auto Show. What better place to study different models, compare prices, note the unmistakable salon conditions and fall in love with a new car? In addition, be aware that by signing the deed of sale on the spot, you have a right of withdrawal of 14 working days. This is not the case when the contract is concluded at the dealership: it is final and cannot be broken.
After your visit to the Motor Show, it is however advisable to go to your dealer, as he will be able to direct you to a model according to your needs and requirements. You will also be in a better position to negotiate the price of the vehicle, the trade-in of your current car as well as the latest sales conditions.
Good to know
If you need to apply for a loan from a financial institution, have a clause added to the sales contract stating that it is effective only subject to your bank’s acceptance of the loan.
3. Make the competition play
There, your list is established. It’s now time to go to the various dealerships and try these models in order to exclude those that don’t meet your criteria.
Once you’ve tried them out, don’t forget to ask for a commercial offer from the different dealers (of the same brand as well) so that you can compare prices and the different packs, accessories, equipment and guarantees on offer. This will also allow you to get a direct discount on the price or the addition of equipment, and thus negotiate a new car price.
4. Opt for an older model
Thanks to these different offers, you have a clearer idea of which model seems to suit you best. So it’s time to start comparing the different offers: take the time to order a new car that is 100% personalized, be less difficult and choose a stock car with a good part of the desired options or favour an older model? The choice remains yours. However, be aware that the last option is very interesting financially. Indeed, model about to be renewed, you will benefit from more advantages, whether in euros or in accessories, equipment, extended warranty, …
5. Leave the hand to the seller
He is very familiar with his work and the financial limits he has. It is therefore important not to rush him by letting him put a first card on the table, often approaching a discount of about 5%. At this point, make him understand that time, make and model factors are not an issue. Also play the comparison card between different dealerships to see if he will lower the price a little more on his own. Depending on the make and dealer, you can get an average discount of up to 15%, according to Vroom magazine.
6. Chasing false discounts
Negotiation is a game, both for you and the seller. He will always try to offer you trifles and trinkets without interest instead of a price reduction. So pay attention to this and make sure the offer is worth it.
Think about this one as well: A new car loan? Yes for 33% of UK
7. Talking about taking over the vehicle in the end
The purchase of a new car usually involves a replacement. This means that you are planning to part with your current car. There are three options:
- You put it on various sites such as Autoscout24 in order to sell it to a private individual. This will generally bring you more money.
- If you don’t want to bother yourself too much then you deal with a car dealer. He will offer you a slightly lower price because he has to think about his profit margin when reselling.
- You choose the easy option, namely to resell it at the dealership where you buy your future car. This will lower the purchase price of the new vehicle. But be aware that the difference in price with option No1 can be 20 to 30%.
If you choose the last option, beware! Do not raise the subject with your dealer at the beginning of the negotiations as this could freeze any interesting offer on the total price. Also keep in mind the value of your car so that you don’t let it go too cheap and negotiate the best possible discount.
8. Compare financing
Buying a new car usually involves car financing. Here again, there are different possibilities:
- a car loan from your bank;
- a 0% credit offer from your dealer.
It is very common for dealers to offer a 0% interest credit offer. However, this is not interesting. And for good reason, when such a rate is offered, there are few interesting offers accompanying the new car, whether it is a price reduction or the addition of equipment. So talk to your banker beforehand and see what he or she has to offer you. Afterwards, ask your dealer for an offer with and without credit so that you can examine the various possibilities at your leisure.
Find your car loan
With all these tips, you’re better able to negotiate the price of your new toy and select the cheapest car loan that suits you best.