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by
Courtney
Caldwell
 Some
people would rather get a root canal that go through the process
of buying a new car. Not only is it extremely time consuming,
it can be downright scary getting into a financial commitment
on an expensive product that many people know little about. More
over, most people don't want to deal with salespeople for fear
of being ripped off or taken advantage of. While most salespeople,
especially at reputable dealerships, are quite knowledgeable and
sincerely want to help buyers get into a vehicle that will make
them happy, the sad truth is that most car buyers still don't
trust salespeople.
This
article is designed to help eliminate those fears and provide the tools necessary
to take the right steps in the car buying process. In our July 15 issue, we offered
tips on the importance of budget planning, doing your homework and research, and
making lists. If you missed that workshop please click here
to access part one. These tips will help you make smart choices and prevent bad
decisions. Once
you've outlined your budget, determined which car fits your lifestyle and researched
cars online, it's time to contact dealerships. Armed with the right information
you'll better understand the lingo used by salespeople. Reputable
dealerships have websites on which prospective customers can search for make and
models, costs, options and financing. Most also offer an email option in which
you can communicate with someone at the dealership to ask questions. They don't
have to know your name, where you live, or if you're male or female. That's the
beauty of the Internet. It not only saves you time, it also provides total anonymity. If
you've done your research as advised in part one there won't be much a salesperson
can say that you haven't already learned, which in itself helps to quell your
fears and insecurities about purchasing a new car. Knowledge is power. If
you want your car right away, then search dealerships that have your dream car
in stock. If you can't find it, inquire as to how long it will take to get the
car. Either
way, provide each dealership with your wish list of options but never disclose
your budget. The idea is to try to come in under budget for other things you want.
Or you may want a little cushion for any unexpected surprises. Once
you've submitted your full wish list to each dealership and they've returned a
quote, you can then start the negotiation process. Compare quotes and be sure
that everything is included on each quote as you've requested and there are no
hidden charges, questionable options, or important items omitted. You don't want
any surprises. Take
time to go through this process. Let them all know you'll get back to them. Compare
and discuss with whomever you use as an advisor whether a friend, family member
or co-worker. It always helps to get a unbiased second opinion. The
next step is to go to each dealership and meet your respective salesperson. Be
sure you're as comfortable with them in person as you were in emails. You'll likely
have a long relationship with this dealership so you want it to be a happy one.
Are you comfortable with the way they treat you? Is the dealership reputable?
Do they offer a warranty? What's their service shop like?
If
you like what you see, then request a test-drive in the car. Most salespeople
go along for the ride to answer questions. Insist on a decent test drive. Don't
be bullied into a two-mile test drive around the block especially if it's a used
car. You wouldn't want to spend $20K on a car then find out after you bought it
that the seats hurt your back or access is difficult when wearing a skirt or it
doesn't have enough power. So, your test drive should be similar to what you'd
normally use the car for on a daily basis. If a salesperson does not permit you
to test drive a car get up and walk away. This is a red flag that something may
be wrong with the car.
You'll
find that each test drive, although the same car, is a little different. It's
like buying a pair of pants. You can try on 5 pairs of the exact same style and
find one that fits you the best even though they're supposed to all be identical.
Once
you've met each salesperson and have driven each car on your list, sit down to
discuss their quote but commit to nothing. You may want to ask if they can do
any better on the price. Listen to what else they have to offer and take notes.
Let them know you'll get back to them. They'll likely try to pressure you into
making a commitment now by saying that they can't hold the car or they may not
be able to get any more. Don't be bullied. A good salesperson does not need to
do a hard sell on a good car. Trust your instincts every step of the way. Unless
you've found the perfect price and car, take some time to think about it. Confirm
all your costs one last time. Ask yourself which car felt the best? Which dealership
did you like the most? Which salesperson did you feel the most comfortable with?
Can they meet all your requirements with the make and model, financing and service?
Make a new list of all your needs then compare notes to see which dealership scores
the highest points in meeting those needs. Armed
with these answers, you can now get into the final negotiation by making an offer.
Dealers are willing to go below sticker but it's up to you to negotiate how low
they will go. Narrow your negotiations down to those dealers willing to work with
you to negotiate a deal that is mutually rewarding. It should be a win-win situation.
Good luck...and enjoy your new car! Part
One - Eliminating the Fear Factor
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