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How I saved nearly $7,000 off the lowest advertised price on a new car and YOU can too!
When it was time to upgrade my car, I wanted to get the best deal on a new car. Just like everyone else right? The only difference is I figured out the leg work required for me to get the best deal possible and I’m going to share with you what worked! I ended up paying nearly $7,000 LESS than the lowest advertised price!!
I LOVED my 2012 Toyota Camry. LOVED it! I loved how it drove, how it looked, the interior, everything about it! So I knew I wanted my new car to be another Camry. This is the first step to the buying process, pick a car, or two, that you want. If you picked two, compare them. What features do they have (or don’t have), what’s the listing price difference? Is it something you can afford financially? Pick something that will work for you in the long-run and something you’re going to LOVE being in.
The Research
The first thing to do is research about the new car and what others in your area have paid for it. I went to Truecar.com and Edmunds.com and researched what others paid for a new car, identical to the one I was looking at, in my area. On Edmunds, I selected the car I wanted, and “compared dealer prices”. I selected 3 auto dealerships near me. All three dealerships called, but I told them I was working and politely asked if they could email me instead. Emailing is PERFECT! No haggling over the phone, you can respond when it is convenient for YOU! AND the best part is, you’ll have the offer in writing what the offers were.
The Haggling
The first dealership that emailed me, I asked for their lowest price on the new car I wanted. I was up front with her and I let her know that I was getting a couple more prices from different dealerships. That way they knew they had to be competitive to earn my business. In the initial email, she asked me about a trade-in. I’ve read that dealerships can haggle the money from the trade-in to pocket more. I was sure to tell her I wasn’t interested in a trade-in at this time.
Treat buying a new car as a separate deal than trading it, because it is separate. You want to find out what you’ll be paying for the car without the trade-in figured in your total cost. I also told her I wanted the walk-out-the-door price. Dealers have documentation fees, taxes, etc. that they throw in at the end. you want to haggle the entire number, not just the bottom number. I’ve read that dealerships can maneuver some of the fees too. Now I’m not sure if that’s true, but I’ve read it – so that’s the method I used.
To my surprise the first offer was outstanding. The first offer was about $4,000 off of the lowest advertised price! This was a fantastic start!
I went to my second dealership and told them what she offered. I asked if they would beat her price. They sent me an offer of another $1,000 off!! After I went back and forth a few times, I ended up getting them down nearly $6500! I was pleased with the numbers I was receiving.
I actually had another dealership call me, I told him the price I had the two dealerships at and he wouldn’t even offer me anything! He told me it had to be a mistake. I told him I had everything in writing for both dealerships. The salesman was surprised, but never gave an offer.
I could have gotten another $200 off the new car by going with the first dealership; however, this is the fourth Toyota I’ve purchased and I’m highly pleased with the dealership I’ve dealt with in the past. So, the only logical thing to do was eat the $200 and go with the dealership where I knew, without a doubt, I’d be treated fairly in the long run.
The Purchase
We scheduled a visit to the dealership and went our next available day.
When we arrived, I let our salesman know that I chose them even though the other dealership gave me an additional $200 off. He was very appreciative. We test drove the car, and went inside to talk numbers. The dealership ended up giving me an additional $500 off for purchasing my last car with them! I was happy, and I even got him to throw in the all-weather mats for FREE!
I finally told him I was interested in trading my car. We haggled with that a little and he gave me a fair deal.
Before we left, he told me if they sold cars at this price every day, they wouldn’t be in business. But he appreciated my efforts and being a repeat customer.
I am overall very happy with my purchase. I truly feel I did receive the best deal on my car. Our payments per month ended up being CHEAPER than what I had paid previously!
All the leg work I did in researching the car, the prices, the dealerships, it all paid off. I would highly encourage you to haggle smart instead of impulse buying. You’ll appreciate it in the long run.
The dealers LOVE when someone walks in and never haggles the price, but use these tips and play it smart! Get the lowest possible price for your new vehicle! It’ll be worth it!
