The Ultimate Car Buying Cheat Sheet: What to Say When the Dealer Says This

🔑Having a clear understanding of your total out-the-door price is crucial in negotiating and avoiding unnecessary costs.

💰Cash down payments can significantly influence your monthly payment and provide leverage for negotiation.

📄Knowing your credit union's pre-approved loan rate allows you to negotiate with the dealership's finance manager for a better rate.

🚗Separate your trade-in discussion from the negotiation process to focus on the out-the-door price first.

🔒Understand the value and benefits of additional products offered by the dealership, but only consider if they beat your pre-approved rate.

What is the 'total out-the-door price'?

—The total out-the-door price includes the vehicle's purchase price, taxes, title fees, licensing fees, and any additional charges.

Why should I focus on the total out-the-door price rather than monthly payments?

—Focusing on the total out-the-door price allows you to negotiate the best deal. By solely focusing on monthly payments, dealerships can manipulate other factors to maximize their profit.

Is it important to secure a pre-approval from my credit union?

—Securing a pre-approval allows you to compare the dealership's financing offer and potentially negotiate a better interest rate.

Should I discuss my trade-in during the negotiation process?

—It's advisable to separate the trade-in discussion from the negotiation process. First, focus on agreeing on the out-the-door price before considering the trade-in value.

Should I consider purchasing additional products offered by the dealership?

—Consider additional products only if they beat your pre-approved interest rate and provide tangible value. Be cautious of high-pressure sales tactics.

00:00This car buying cheat sheet is a valuable resource to navigate the dealership experience.

02:19Focus on the total out-the-door price, which includes the purchase price, taxes, and fees.

04:59Securing a pre-approval from your credit union allows you to compare and negotiate financing rates.

06:33Separate trade-in discussions from negotiations to focus on the out-the-door price initially.

07:33Consider additional products offered by the dealership only if they beat your pre-approved interest rate.