No need to be a jerk here and be prepared to spend some time.
You’re looking at spending a large sum, of your money on something that is a depreciating necessity and not an investment.
Time to get to the brass tax.
- If there is a trade involved your Consultant will need to complete an internal Trade Appraisal form to submit with the offer to purchase. Again this can take a few minutes, be patient. Your Consultant may ask you what you feel your trade is worth and if you’ve already had a trade appraisal done on your vehicle you will have a good idea of its value, remember the number you will get from the dealership will be a wholesale value not a retail value.
- Your Consultant will now begin completing the offer to purchase. This is simply an internal document used in the nogotation process. Be sure to have your Consultant include in writing anything that was promised and anything that you would like to be included in the transaction.
- Your Consultant should ask you if there is anything that needs to be added to the offer before he/she takes it to the Sales Manager for the numbers. Again be sure everything you want is included and on paper.
- Your Sales Consultant will now take this document to the Sales Manager to “Desk the Deal”. Again be prepared to wait a few minutes as this can take time. Accuracy is important. Be patient.
- Here comes your Consultant with a big smile on his face to present you with the numbers. Pay attention if this is your first time, it can get a bit confusing and maybe a bit disappointing when you see what you’re getting for your trade (if a trade is involved). If you have any questions or concerns about the way these numbers are presented don't be shy about asking, after all this is your money.
- Are the numbers in line with your budget?
Is this the vehicle you are prepared to drive for the next few years?
Are you happy with:
The interest rate, payment and the term?
Ok so now it's decision time.
Is this the deal I want?
Do I want to negotiate?
Is it so far out that I want to walk?
Do I continue and press for a better deal?
If you want to walk be straight up and let the Consultant know that you don't feel comfortable with the deal and you want to leave. If you feel that you are being unfairly pressured. Say so! If you feel that the Consultant is being too pushy, aggressive or you are having second thoughts about using this person's services. Say so! Tell the truth.
If you want the vehicle and feel that you can negotiate a better deal have your Consultant note your offer on the Offer to Purchase.
Your Consultant will be asking you, if the Sales Manager accepts your counter offer, if are you prepared to move forward and close the deal. Be Honest. He/she will then return to the Sales Managers office to present the counter offer for review.
If it’s a yes from the Sales Manager, you got your deal and will be driving away in your new wheels soon. Great
If the Sales Manager can’t or won’t accept your counter offer you will likely get a counter offer to yours. Meaning that this cat and mouse process starts all over again or you accept the offer and move forward to sealing the deal.
As always this is your choice.
You've decided to move forward and it's now time to Seal the Deal.
If you are able to set aside your emotional tendencies and treat the purchase of a vehicle as a business transaction, the odds of striking a better deal increase dramatically. Remember it is strictly business for the dealerships. Many businesses ask their potential suppliers to submit quotes for the products they need.
Consider requesting quotes from several potential dealers.
What's your budget? Take your time with this to insure you are accurate. Your budget is not simply the cost of your monthly payment and insurance, but should encompass the total cost of driving. When you break down your cost of driving and include the cost of your monthly payment, insurance, maintenance, and of course fuel. The total number can be a bit of a shock.
Know what you want. Start with your needs and wants list. You'll find that when you brake it all down your needs list will likely be considerably shorter than the wants side.
Do some research online to confirm that your list is achievable and within your budget. An online Auto Loan Payment Calculator will help you to find your maximum vehicle purchase amount based on your payment budget.
Test drive to be sure it fits - You've got your budget and have done your research. You have several vehicles that fit, now it's time to choose several dealerships that carry your chosen ride and to choose your potential sales consultant.
You know what you want at this point and it's a matter of going for a test drive to insure that everything actually fits. Call your chosen sales consultants and make appointments to go for those test drives.
It all fits and this is the car for you. It's time to get some numbers.
When you were with the sales consultant you gave him the heads up that you were planning to request a quotation after you had completed all of your test drives. It's time to prepare the request for quotation. Be sure that you are asking for the quotation on exactly the same vehicle from each of the dealers that are in the running to earn your business and quote the stock number if you managed to get it from the sales consultant.
Email it or deliver it to the salesperson.
Now you have the opportunity to compare apples to apples. Make an appointment with the winner of the contract and make the deal.
Don't make a deal if the numbers change when you get to the dealership. A quote is a quote.
If you are not happy, you always have other options.