Online shopping through the internet makes the entire purchase process very convenient. It is best for the buyers who cringe at the thought of visiting a car dealership to buy a car. At the same time, online buying can be very risky if not done cautiously. The biggest trouble with online buying is that you are buying something sight unseen.
If you are buying a small appliance or a handy gadget, it’s not difficult to trust an online portal, but buying a car is a major expense. You will spend thousands of dollars on a single car purchase, hence you should get the best possible deal.
We came up with some important points which will help you get a better deal while purchasing a used car online. Don’t end up buying a metal disaster, read the points below for an informed decision:
- Find the right car for you
- Determine the price you want to pay
- Get financing squared away
- Check local inventory
- Contact dealership, get the price quotes
- Online price haggle
- Trade-in and Financing
- Sign and drive at the dealer
Find the right car for you
It is always recommended to do the market research before deciding one final car. Many people already use the internet to research for a car which best fits their requirement. It’s good to have a list of things you are looking for in a car. Based on your priority list you can finally decide what type of car you want, what all make, model and option you can look into a car.
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Utilizing different online tools, you can search for a car based on your budget, lifestyle, fuel economy, size, space, seating and even the cost of ownership. However, for the test drive, you still need to visit the local dealer.
Determine the price you want to pay
For a good deal, try to research the vehicle’s manufacturer suggested retail price, price a dealership has quoted for the car, the invoice price, or what the manufacturer has taken from the dealer for a car. There are tools available which will aggregate the recent transactions to show the average price recently paid for the car.
Never forget asking which fees and options are included in the car’s price when buying a car. Make sure that the price quote which you got is not withholding fees like the document fee, destination charges, or any other option, add-ons for the make and model of the car on the dealer’s lot.
Get financing squared away
Remember not to take the dealer’s financing offers at face value when purchasing a car. Fancy advertisements are meant to attract you. Check the local bank, use the comparison tools for the best deal and apply online for a pre-approval. When you are getting the financing, always focus on the annual percentage rate or the APR. Never select a financing based solely on the monthly payment.
Check local inventory
At times when there are fewer cars of your desired make or model available on the market, there is less of a chance that you will get a good deal. At that point, it is better to check the local dealer websites separately for a better comparison.
Always check the VIN of the car you have considered buying. On the website, you will find the VIN next to each car in the listing on the dealership website. If you don’t see a vehicle identification number on the website, chances are that the vehicle is not really on the list. Also, check the real pictures of the vehicle on the lot. If it is not available on the website ask for it.
Contact dealership and get the price quotes
Once you have completed your online car search contact the dealership for an online price quote. Different dealerships follow different processes like filling out a website contact form or contacting through email. You just need to follow these simple steps to reach out the dealership. Try to be very specific about the make, model and options for the vehicle you have considered. Also, try to ask several dealerships for their best price offer. Once you have enough responses, compare them with the prices you have researched. This comparison will help you take a final decision.
Online price haggle
There might be a case in which none of the price quotes you receive falls within your range between the market value and the invoice price. In such case, you can again approach the dealers for their best price.
Always ask about any extra fee that will need to be paid over and above the price quote. There could be certain items, that if included in the price quote, can be negotiated. Customer service fees, Options and add-ons are two such items.
For better negotiation, you can take the better deal quote from one dealer and share it with another. It will help you get competing bids.
Check & Decode Any VIN Instantly
Get your VIN check and find hidden problems with any car! Comprehensive vehicle and accident history, service and repair information, specifications, theft status and more
Trade-in and financing
Once you have agreed on a price, now is the time to negotiate the trade-in and financing.
You can directly ask the dealer for the best offer for your trade. After that, look for rebates and financing incentives. Remember that a dealer can offer you anything better, so, don’t forget to ask.
Sign and drive at the dealer
As a final stage, you need to visit the dealership for finalizing the bill of sale. Once you sign all the required financing paperwork, you are ready to pick up your keys and ride the vehicle.
