They’ll cut most of the bullshit with you if they know that you’re not going to fall for it.ĥ) UNDERSTAND THAT YOU ARE NOT GOING TO PAY COST FOR THE CAR, AND THE AMOUNT YOU PAY OVER COST WILL BE MORE THAN YOU THINK. If you read this article, you are already ahead of 99.9% of the people walking in. Basically, wholesale cost.)Ĥ) LET THEM KNOW THAT YOU KNOW WHAT THEY ARE DOING. It’s called “black book” value “black books” are published weekly by companies such as Manhiem Auto Auctions (), and these show the going price at the auction, that week, for your car. (Here’s a hint: take the NADA and subtract about $2K – used cars are appraised by books that aren’t published to the public, so it’s not blue book or NADA value. Know what the MSRP of the car is, know what your trade is worth. This seems obvious to most of the readers of The Consumerist, but most people miss this – especially if they’re getting dealer financing. You’ve got it worked out, and only need to know the price – bringing us to the next point.Ģ) DON’T HAGGLE OVER ANYTHING BUT THE PRICE. We’ll still try to beat whatever APR you’re getting at the bank and offer you payment deals, but forget them. Once a car salesman knows you don’t need financing, they’re more willing to be forward with you and knows they don’t have to work on the payments with you, because it won’t help. Here’s 5 tips to get you started, and then a very detailed breakdown of how the dealership manipulates buyers with the four-square.ġ) GET YOUR FINANCING THROUGH THE CREDIT UNION BEFORE YOU EVEN STEP ON THE LOT. Many, but not all, dealerships use this tool. This is supposed to help you and the dealership come to an agreement, but as you’ll see, it’s really more akin to three-card monte dealer’s deck of cards. Former used car salesman Alan Slone grows a conscience and reveals one of the major strategies dealership use to screw you when buying a new car.Īt the heart of it all is the “4-square,” a sheet of paper (sample above) divided into four boxes: your trade value, the purchase price, down payment, and monthly payment.
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