5 ways to help you buy a car at the best price

Below are 5 golden tips that sales experts have compiled to help you buy a car at the best price.

1. Always ask for the lowest price

The first time you talk to a car salesperson, the first thing they will ask you is: "How much money do you want to spend on the car?" or "How much can you afford to pay each month if you want to buy it on installments?"

This is an easy way for the salesperson to start leading you into a buying session and try to get you to a price where they can easily make money.

One of the best tactics at this point is to be vague and tell them something like, "Explain why this car is selling so well?" or "Give me your lowest price on this car and I'll consider buying it if it fits my budget."

If the salesperson asks you to state a specific amount of money to buy the car, it means the salesperson is trying to confuse you and put you in a fait accompli.

At this point, find an ad online or in a newspaper and tell them about a figure that is 10% to 20% lower than the listed price of this model.

2. Avoid letting useless options blind you

These days, many of the extra features on new cars are where car dealers make a lot of money from customers. Most options like Bluetooth connectivity and sunroofs are becoming standard equipment on some higher-end trims.

However, features like “seat heating” or “steering wheel heating” are often very expensive and rarely used in hot and humid tropical climates like Vietnam.

So when you're talking to a car salesperson, don't let the hype about features fool you into buying a car with options you don't need.

Many car dealers offer big discounts on models with fewer options because they are considered less desirable, so if you are looking for the lowest price possible, go for these cars.

3. Never buy an extended warranty

Recently, some car manufacturers have followed the lead of phone and computer manufacturers by offering extended warranties, which are some of the most profitable packages a car dealer can sell you.

They make a lot of money on maintenance packages, servicing and additional warranties after the manufacturer's warranty period has expired. However, most cars have standard manufacturer warranties, many car manufacturers' warranties now extend to 5 years or 150,000 km, some with unlimited mileage.

So the chances of you using an extended warranty are slim to none, and many car dealers often suggest offering a small discount on the car price to get customers to add an extended warranty.

Often, you will not know that the cost of the expansion package is often much higher than what the salesperson discounts the car for you. So, do not be greedy for the car price reduction and end up spending more money on these unnecessary services.

4. If you have a relationship, meet the manager directly.

A car dealership salesperson is often the middleman between the customer and the dealership manager. If possible, ask to speak directly to the manager.

Tell the car salesman something like, "I'm here to buy a car today, please let me speak directly to the manager." Don't forget to bring your credit card or business card with your title on it and put it on the table.

Remember, car salespeople want to work with customers so they walk out of the showroom with a new car. So, meeting and talking directly with the manager about discounts on the car will save you time and give you a better relationship if you decide to buy another car in the future.

5. Do your research before going to a car dealership.

You did all the research on the car you wanted before you walked into the dealership. You knew all the options, all the prices, all the colors, all the fuel economy, all the specs, even the dimensions of the interior.

Now imagine you know more than the car salesman, because many sales people are actually new to the profession and not yet "ripe" enough.

Then, you will have more confidence and chances of winning the car price negotiation because you know what you are "talking about". Confidence at the negotiating table is the key.

Show that attitude, don't forget to ask for a free cup of tea or coffee, feel free to browse the rest of the cars on display in the showroom and consider yourself getting your dream car at the lowest price.