Buzz
If you're looking for a new car, you’re likely wondering how to approach the negotiations. One helpful strategy could be to secure financing in advance before you visit the dealership.
Wise Bread, a personal finance site, shares expert negotiation tips, including advice from a former car salesman. They recommend joining a credit union to get pre-approved for an auto loan. This step simplifies negotiations by setting a clear budget limit.
Additionally, many dealers will continue to negotiate with buyers in the financing department, often marking up interest rates. Dealerships also profit significantly from selling additional products during these finance discussions.
If you’ve already secured your loan, you might be able to bypass much of this back-and-forth negotiation.
Jason Lancaster shared with the website:
If joining a credit union isn’t an option, I’d recommend exploring online lenders that collaborate with sites like Edmunds.com, Cars.com, and others to secure a loan.
Be sure to read the full article for additional tips on dealing with car dealerships during negotiations.
Image by That Hartford Guy.
