How To Get The Lowest New Car Price In Today's High-Priced Market

There's just no debate anymore. You have to get dealers to compete for your business. In today's market, it's all about getting multiple price quotes online to compare and then further negotiate. And all from home. It's also very easy to set up, taking just a couple of minutes.

Those buyers who walk into a dealership to negotiate are very unlikely to be the ones getting the good deals. That's too "old school" and a mistake in this day and age. These simply aren't the buyers getting the best prices.

Here's what works: By strategically using a free online car-quote service, such as the one at Edmunds.com, which is my personal favorite due to their massive dealer participation and quick, easy process, simply puts the odds squarely in your favor for getting the best available discount. (Much more on this below.)

The Reasons This Works So Well

1. Dealer Competition: As soon as they get them, dealers know they are now in a multi-dealer competition for your business and may need to offer you their most competitive price to get it, and often do right upfront.

2. Increased Buyer Leverage: You can then negotiate further if you choose to. (There's more "how to" specifics on this below.)

3. Transparency: Requesting quotes from multiple dealerships encourages price transparency. Dealers are more likely to provide clear and competitive quotes when they know they're being compared to other options.

4. Market Price Awareness: By getting quotes from multiple dealers, you get a better understanding of the market price for the specific car you are interested in. And with this information, you can negotiate more effectively and know when a dealer's offer is above or below the market average.

5. Incentives and Promotions: It is not unusual for different dealerships to offer varying incentives, promotions, or discounts at different times. By obtaining multiple quotes, you can identify which is currently offering the best overall deal.

6. Very Little Stress: There's little or no stress because you are doing this from the comfort of your own home or office, so there's no sales pressure and the buyer is actually the one in control.

7. Access To Information: You'll have all the resources of the internet at your fingertips to study the offers you are getting or research any questions you may have as opposed to being more limited while sitting at a salesperson's desk.

Okay, Here's Where You Can Do This:

Again, my personal favorite free quote service is Edmunds.com. It has just massive dealer participation which is the biggest factor in getting the best price. It's also super fast and easy, taking only a minute or two.

They also provide lots of vehicle research, if needed. Once there, just enter your make and model, then select the year, and then "Check Availability". And I normally include dealers within 100 miles to be sure of a brisk competition, but you may have to go further if you are in a more rural area.

They also have a long-standing reputation for helping consumers in what can be a fairly "adversarial" industry. Plus, participating dealers are required to offer significant discounts right up front to anyone who does this. You can then compare these discounts and negotiate further as described above, if you choose to. In addition, you are never under any obligation at any time.

Tips For Dealing With the Quotes Once You Get Them

You will receive all your quotes via email or text. Sometimes, you could be called and you can decide if you want to engage with that or not. If not, you can say something like ...

That always seems to handle this. You then can compare the quotes and simply go with the best ... or you can usually negotiate still further if you like. It's up to you.

And always make sure you get their OTD (out the door) price, including any fees, to make sure you are comparing apples to apples. It may not be included in their first contact. All you'll need to do is respond and ask for it.

If you want to negotiate further, which I recommend, you can respond to the highest bidders with an email telling them you have gotten a lower competitive quote. Never tell them what it is. Just tell them you'll consider their new offer if they want to send one. Simple, that's it.

You can even do something similar with the low bidder if you are not satisfied with the price. I don't recommend lying in any way. At the same time, you don't have to tell them they were the lowest bidder either. You can just tell them the truth, something like ...

When no one is sending you any more quotes, you know you've gotten the best price. You've won ... and you've won on your own terms.

If you think you'd like to buy it, tell them you'll buy it at their quoted price only after you test drive the vehicle. Now it's up to you. You can do whatever you want.

Also, always remember that a very good time to buy a new car is when you don't really need one. Your lack of urgency will also put you in a very strong position. You can get quotes from time to time and then pounce when you see an absolutely outstanding offer.

Does This Method Work For Leasing As Well?

Absolutely. Your monthly lease payment is based on the final price negotiated. To give you an idea of the savings, for every $1,000 the price comes down, your payment will decrease by approximately $28 per month on a 36 month lease.

Once you've decided to accept a price, you just tell them to convert that capitalized cost (the agreed upon price) into a lease. Or, ask them to do it along the way, whichever you prefer.

So to get started, head on over to Edmunds.com and I think you just may find this quite illuminating, and even fun.

Well, I hope this has been helpful. Have fun turning the tables with this ... and let me know how you do.

All the best - Josh