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In this article, well cover five ways tosave money on your new car over Labor Day weekend.
This allows you to automatically say no to any deals outside that range.
Start by researching the dealer invoice price and comparing it to the Manufacturers Suggested Retail Price (MSRP).
This gap is where your negotiation leverage lies.
Remember, the MSRP is rarely the actual price you should pay.
Shopping at a dealership specializing in the vehicle make and model you are looking for can save you money.
Many of these dealerships are also able to offer available manufacturers rebates.
A 1% higher rate could mean an extra hundred dollars per month on your payment.
When reviewing the terms of your deal, negotiate theannual percentage rate.
Would putting an extra $1,000 down lower your APR?
In addition, inquire about introductory APRs from in-house financing.
Sometimes, dealerships will offer you a lower rate for the first year.
Then, you’re free to refinance through a different lender.
The APR you are offered will also depend on your loan term.
Could you finance the car for five years, not six?
How about shortening the term to four years?
What is the impact on your APR?
Changing other factors in your deal can impact your APR, helping you save the most money possible.
Maintenance can be expensive, especially if you are purchasing a foreign-made vehicle.
Working some free maintenance into your deal can save you hundreds of dollars.
How about free oil changes for a year?
What about afree tire rotation?
Use the holiday weekend to your advantage to sweeten your purchase.
Be confident when asking for freebies.
Shop Around or Order New
The first dealership you visit isnt your only option.
Visit different dealerships and negotiate terms with each one.
Then, grab the dealership that offers you the best package.
In many cases, you might also use discussions from other dealerships as leverage.
Also, if you arent finding theperfect used vehicle, order new.
You should be able to order a new vehicle at the dealership without paying any unnecessary markups or fees.
If your dealership is trying to charge you extra, look elsewhere.
The Bottom Line
Are you confident about your new vehicle purchase this Labor Day weekend?
Remember these money-saving tips and tricks to make your next car purchase a breeze.
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