Dear Driving for Dollars, For cars made by manufacturers that we don't hear are in financial trouble, what percentage off the sticker price should I target? -- MacDear Mac, There's no set percentage to aim for when negotiating a deal on a new car. Certain models of cars from the same carmaker can be very popular and therefore not available at much of a discount off MSRP, or manufacturer's suggested retail price. At the same time, other models from the same carmaker might be slower sellers and therefore available for a lot less than the sticker price.That said, most cars can be purchased for less than sticker price if you do a little research first and negotiate well. Start by looking for the invoice price of the new car (what the dealer paid) on a third-party, vehicle information website and what the cars are selling for in your area. Use the Internet to research what rebates and incentives are currently available for that new car. Armed with that information, you can then visit a dealership and negotiate a fair price.Ask the adviserIf you have a car question, e-mail it to us at Driving for Dollars. Read more Driving for Dollars columns and Bankrate auto stories. Bankrate's content, including the guidance of its advice-and-expert columns and this Web site, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this Web site is governed by Bankrate's Terms of Use.This week:Year-end clearance? Think car depreciationCan you pay less than MSRP to buy a new car? Create a news alert for "auto" advertisementRelated Links:5 car loan mistakes that cost you moneyYear-end clearance? Think car depreciationNational auto loan rates for July 15, 2010Related Articles:6 car-shopping mistakesCertified cars offer peace of mind5 great used cars for bargain hunters
Dear Driving for Dollars, For cars made by manufacturers that we don't hear are in financial trouble, what percentage off the sticker price should I target? -- Mac
Dear Mac, There's no set percentage to aim for when negotiating a deal on a new car. Certain models of cars from the same carmaker can be very popular and therefore not available at much of a discount off MSRP, or manufacturer's suggested retail price. At the same time, other models from the same carmaker might be slower sellers and therefore available for a lot less than the sticker price.
That said, most cars can be purchased for less than sticker price if you do a little research first and negotiate well. Start by looking for the invoice price of the new car (what the dealer paid) on a third-party, vehicle information website and what the cars are selling for in your area. Use the Internet to research what rebates and incentives are currently available for that new car. Armed with that information, you can then visit a dealership and negotiate a fair price.
Bankrate's content, including the guidance of its advice-and-expert columns and this Web site, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this Web site is governed by Bankrate's Terms of Use.
Create a news alert for "auto"
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A little research could save you BIG on interest.