New and Used Car Buying Tips

Did you know that experts claim that female buyers pay, on average, $1200 more than men for the purchase of an automobile? That’s about 5% more on the average vehicle investment! Consumer financial powerhouse USAA commissioned a 2010 survey to get to the bottom of this issue. The findings found that women who did not like to negotiate at the car lot gave two primary reasons for their reluctance:

[+] Feeling Intimidated

[+] Not Feeling Confident

As evidenced by the $1000+ difference in what you may end up paying for your next care, it would be well worth your while to read up on some negotiating tips geared toward female purchasers. First off, you want to know as much as possible about the vehicle or range of vehicles in which you are interested. Technical expertise in the automotive arena will boost your confidence, while demonstrating to your salesperson that you are really know what you are talking about. You also want to have at least one “back-up” vehicle in mind – a car, truck, or SUV which you would be willing to buy if pricing on your primary model is not working out. This also gives you alternatives – a key to negotiating effectively.

You not only want to know what the tech-related specifics of the vehicle you have in mind, you also want to know just how much it is worth. There are virtually countless places online to research not only vehicle MSRP, but how much people in your zip code have actually been paying for the specific car or truck you have in mind.

Brush up on your negotiating skills. First off, you want go to the dealership having already determined what positives you can bring to the table, such as good credit, a big down payment, being ready to buy today, etc. Knowing and playing upon these factors will up your leveraging power. You also want to be comfortable with walking away. That way you can’t be so easily pressured into a deal. If the dealer is not cooperating, be ready to walk. You can also research the inventory of other nearby car lots. That way you can show the dealer that you have somewhere else to turn if he or she is not ready to negotiate with you.

Another great strategy is to apply for and arrange your financing package ahead of time. If you already have your auto loan in hand, the dealer has fewer opportunities to take advantage of you. Your stock will also be up, negotiation-wise. That’s because you already have the funds available to make your purchase. Remember that they want to make the sale as much, if not more, than you want to buy your car.