10 Car-Buying Secrets You Need to Know

Buying a car is often one of the biggest purchases for a household. No one likes feeling ripped off. While not every car salesperson is trying to pull one over on you, plenty of unscrupulous sellers will. Fortunately, with a bit of extra preparation before you ever visit a dealership, you can avoid this unpleasant experience. 

Before you drive your new car off the lot, just be sure you're covered with the right car insurance. An independent insurance agent in your area can help you get the coverage that's best suited for your new car. But first, follow these well-kept car-buying secrets to avoid the regret many buyers feel after they've bought the wrong vehicle at the wrong price. 

10 Secrets for Buying a Car

Here's our list of the 10 best car-buying secrets you need to know before you start your search for a new vehicle. These simple steps can help you avoid walking away with the wrong deal.

1. Those Who Research Are Rewarded

You wouldn't buy a house without careful research and planning, so you shouldn't buy a car without doing your homework. As car payments often come in a close second to mortgage or rent payments, any decision you make can significantly impact your monthly budget. 

Find out what kinds of cars meet your needs and budget, and compare makes and models from a variety of manufacturers. Also, be sure to price the vehicles that have caught your eye. When you go to the dealer with a binder full of research, pricing information, and offers from their competitors, you're already ahead in the negotiation game.

2. Knowing Your Credit Score Gives You an Advantage

Some dealers rely on the fact that too many consumers are unaware of their own credit histories and scores. The truly unsavory types will even misrepresent your score to lock you in at a higher interest rate through their financing department. When you arrive with your credit score in hand, you remove this tool from their arsenal. 

You're entitled to one free credit report each year. If you've already obtained a free report, spend the small fee (usually under $20) to get a recent one. You'll want to study this and be sure you've cleared up any mistakes or old accounts before seeking financing on a new car. 

You might even want to discuss loan options with your personal bank or lender. Using the interest rates they offer, you can often negotiate a better deal with the seller.

3. You're the One in Charge

Nothing unsettles a sales shark like a confident, informed consumer. The only time car dealers' games and gimmicks work is when you're not prepared. That's why it pays to be confident right from the start of the process.

If you walk into the showroom projecting the attitude that you can buy and sell the entire place, they'll see you're no easy mark. This is the mindset to adopt. They're not selling you a car — you're selling them your business.

4. There Are Hidden Treasures Waiting Online

Save a little room in your binder for coupons and promotions. Most dealers these days have printable promotions all over their websites. Find as many as you can, and bring them with you to demand credit for them. 

This secret may not save you thousands, but it can knock a few hundred bucks off the selling price. That's often the equivalent of at least one car payment, and when used along with the other car-buying secrets listed here, it can help your savings add up fast.

5. Good Things Come to Those Who Wait

Do your car shopping during the last week of the month. Most sales reps are eager to seal a deal at this point in their commission schedule. The vast majority of car salespeople work on quotas. The more they sell by the end of the month, the more they stand to make on commission. 

But they'll never make that 30% mark on the total of their sales that month unless they make the quota. Your car purchase, if timed correctly, could mean the difference between an average month and an incredible month for them. They may offer you extra incentives so that they can meet that magic number.

It's also recommended to buy your next car in December to capitalize on the extra deals offered by many dealerships to move out the rest of their inventory. However, starting in October, you can often find bonus deals and incentives when shopping for a new car. Shopping for a car on Mondays in December and New Year's Eve is a great way to find the offers of your dreams.

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6. You Can Share Salesperson Incentives (If You're Crafty)

Ask what your rep stands to gain from your purchase of a specific car or truck. If the rep shares the secrets, you have a chance to share the spoils. Many times, carmakers put incentives on their dealerships to sell more of a certain model. Dealerships often run contests for their sales force to foster competition among their staff. 

If you can weasel these perks from your sales rep, chances are the sales rep will even split them with you if you buy that car today. They'll happily forgo that $200 bonus from Ford if your sale means more commission for them.

7. You Can Drive Your Final Sale Price with the Right Passenger

These days, many car sales reps fail to tag along during the test drive. Sometimes, their confidence gets the best of them, and they think they can sell you the car without actually stepping foot into the vehicle with you. Ask them to come along if they don't offer to do so initially. Then, ask for an extended test drive. This is when you start to win the game of attrition. Wear them out.

During the test drive, recite a well-practiced list of relentless questions. Don't let them take control of the conversation. Car dealers are adept at keeping this part of the process emotional. "Can't you just feel the torque?" They'll try to bombard you with all the great ways this car can make you feel. 

Don't let them get a word in edgewise unless it's to answer your storm of questions. Keep it about the car, not how you feel behind the wheel. "What's the gas mileage? How does it handle on the highway?" By the time you head back to the dealership, they'll want to cave to your every demand just to get you out of there.

8. You're Not There to Play Games

The last time you bought a car, you were probably unaware of these secrets to car-buying. The sales rep had you warming the chair during the back-and-forth to the manager’s office a dozen times, leaving you to wonder about the deal. The sales rep was probably getting an earful from the manager about the price you were offering.

Don't let the manager bully your rep into keeping firm on the price. Let the rep know you aren't playing games. If the manager doesn't accept your price after a few visits, threaten to walk away from the deal. They've already invested half of their day in your sale, and they won't let you leave without a car at this point.

9. The Finance Officer Is a Secret Salesperson

If you've followed these car-buying secrets, you've likely already saved thousands of dollars. Once you're in the finance manager's office, however, get ready to feel the pressure. They'll attempt to convince you to buy extended warranties and all sorts of added "protections," such as car alarms and other add-ons. 

Be sure to have them explain any warranty package in detail. Have any agreement documented and signed by a manager, not just your sales rep. Managers tend to stick around much longer than reps, and you don't want your deal "lost" after your rep finds more honest work.

10. The Deals Don't Stop Until You Leave

Once the ink on the purchase agreement is dry, many folks simply drive off in their new car. At this point, you're far better off than most, but you can still get a few more perks out of the deal. Ask for a tour of the service department and to meet the manager. Then, after a friendly greeting, ask about any oil change or regular maintenance promotions they may have going on at the time. You may just get a free service coupon.

Next, make sure the tank is full. If not, ask for a gas voucher. Dealers sell all new cars with a full tank of gas, but sometimes, sales reps neglect to fill it up after test drives or use the gas voucher themselves.

Finally, inspect your new car thoroughly. Check the exterior for any chips or scratches, and be sure to point them out to your rep. Inspect the interior for any rips on the seats or scuffs to the dashboard. Document any minor imperfections, and be sure to have the seller document them and schedule a time for free repairs.

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An Independent Insurance Agent Can Help You Protect Your New Car

Congratulations on your new car purchase. You've just saved yourself thousands of dollars and potentially years of regret. But don't tell your dealer we shared their car-buying secrets. 

Your next step is getting insurance coverage for your new vehicle. One final secret: just like you shopped around for your new car, an independent insurance agent can shop around for the best car insurance policy. 

Independent agents in your area can get quotes from multiple car insurance companies, so you can choose the coverage that best meets your needs and budget and best protects your new investment. And down the road, your agent can even file car insurance claims for you and update your coverage when necessary.