Close the Deal is the most critical step in the entire car buying process. Armed with all of your new knowledge, research and information as found on the “Deal Summary” or “Expert Buyer Report”, YOU CAN CONTROL the negotiations and avoid all of the games.
Confirm all of the figures presented including price, “Trade-In” amounts, dealership fees, financing rates and “F&I Products” before you agree to sign and buy.
- (Expert Tip) Review all prior Steps in detail to formulate your own personal winning strategy for all of the dealership games that you will encounter.
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(Expert Tip) Do not allow the dealer to sell you on a lower payment by just extending the “Term”. Obtain a lower payment by only reducing the price that you are paying for the vehicle.
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(Expert Tip) Do not pay any secondary delivery fees, advertising charges, dealer markups and dealer preparation fees. All fees outside of title, registration, acquisition and disposition should only add up to a few hundred dollars. If a dealership insists on charging you a Pre-delivery Service Charge or Dealer Fee, have them reduce the price of the new vehicle accordingly.
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(Expert Tip) Double-check the financial paperwork for unknown or unwanted items before signing. Perform your own calculations using one of our many CALCULATORS and your completed “Deal Summary” or “Expert Buyer Report” to identify such items.
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(Expert Tip) Never be afraid to walk away at any time before signing a contract if you are not comfortable with the transaction.
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Do not be pressured into making a purchase decision that you are not 100% comfortable with. If you also would prefer dealing with a different salesperson, ask for a manager or visit another dealership.
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Don’t fall for the dealer technique where they state that a loan has a higher probability of getting approved if life, accident & health or any other “F&I Products” are included in the submission.
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Compare the “APR” values on all presented loans. Beware of “Dealer Reserves” that cause higher interest rates than that for which you actually qualify. Ask for the BUY RATE which is the base rate of the loan. Most values above this amount can be negotiated.
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Don’t drive a vehicle home until the financial paperwork is finalized in order to avoid the financing falling through requiring a new deal at less favorable conditions.