How to close a car deal
Closing a deal on a new car is more than just signing a bunch of papers and writing checks. And, when you’re ready to close, don’t think you’re off the hook with the dealership’s sales staff. Finalizing a car sale has a lot of steps from a paperwork standpoint alone. And, a well-trained sales staff is going to put you through the ringer to get as much money out of you as possible. This is not to say that the sales staff is there to rip you off – far from it. While the sales staff wants to sell you as much stuff as possible, the stuff they sell is, generally, quality goods worth the money they’re charging for it. The question is whether or not you need it ‒ or want it.
When you’re ready to put your money down, you should have done the basics. Did you go into the dealership knowing exactly what kind of car you want? Having your mind set on the car you want to buy helps you resist an impulse buy. This puts you in a position of strength if you’re able to head straight to the car you want the moment you step onto the car lot. If you wander onto the lot with no particular model in mind, you’re a perfect target for the sales staff, who won’t hesitate to put into a car that might be beyond both your means and your needs.
Also, is your car loan approved? Having your car loan approved before setting foot on the car lot puts a check in your pocket further keeping you on budget and freeing you from using the dealership’s financing department. When discussing financing and costs with the dealer, do not reveal how much money you’re willing to spend early in the game. This gives the sales people the ability to knock down that barrier early and manipulate you into going beyond that budget especially if your loan conditions give you an effective blank check.