Here are tips for any buyer on how to negotiate for the best deal on a new car with a dealership. Do your homework. After narrowing down the make and model of your desired vehicle and selecting the trim, options and colour you want, start compiling the quotes. Call, text or e-mail several local dealerships to get prices for the exact vehicle you want, so you can compare apples to apples. Some of these sites offer valuable car-buying tools, including the wholesale or dealer-invoice price.
Many of these websites also offer other useful information, such as the average cash payment, monthly lease and finance payments, and unadvertised incentives, including factory rebates or cash incentives.
Of course, you can also pay for annual memberships to get your hands on new-car price reports and expert advice from services such as Car Help Canada or Car Cost Canada. Never rush the negotiating process at the dealership.
Expect to spend a few hours haggling to get the lowest price possible. When starting to negotiate, always bargain up from the wholesale price or your lowest quote. So focus on the purchase price. Keep in mind that if a vehicle is in high demand, you may have to pay closer to the asking price.
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