How to negotiate for a new car

Purchasing a new car is a significant financial decision and every buyer wants to get the best possible price. 

Here are some tips for successfully negotiating a new car purchase:

• Do your research – To get a great price, you must first know the true value of the car you want to buy. Research the market, what selling prices look like, know what a good value car looks like and visit multiple dealers.
• Secure finance ahead of purchase – Obtaining pre-approval for a car loan demonstrates your readiness to buy and can speed up negotiations. It can also give you a way to negotiate if you know your upper limit.
• Showcase your knowledge – If you think a car is overpriced, demonstrate why that is the case with facts and listings of other cars on the market currently.
• Be prepared to walk away – If you’re not satisfied with the deal on offer, take your time to consider options from other dealerships.
• Don’t rush – Avoid making hasty decisions influenced by sales tactics. Take advantage of end-of-financial year sales, model run-out sales, plate clearances and visit dealers at the end of the month when they may be more flexible on pricing.