The Trick to Getting the Best Price at a Car Dealership

This video is part of our 2015 #MoneyMinute contest. Click the “thumbs up” below to vote for this video as one of your favorites and check out all the video entries here. Remember, voting occurs daily!

Name: Brian Moody


Entry Category: Credit and Financing

#MoneyMinute Voting is closed

Hi, I’m Brian Moody with AutoTrader, and my money-saving tip has to do with shopping for or negotiating the price on a new or used car. When shopping or negotiating for the price on a new or used car, never go by the monthly payment — always go by the purchase price.

The truth is you can get a $100,000 car to cost just $300 per month, or you can get a $30,000 car to cost $500 per month. It really depends upon the loan length, the interest and the down payment.

What you should do is negotiate and shop based on the purchase price first. Find one that fits your budget, do your research, then try to get the loan and the payments to fit your budget after that. That way, you’ll have a better idea about what you’re really paying for the car and you’ll know that you got a great deal on a car that’s within your budget.

Related Video

About the Author

GOBankingRates Staff

These articles are written by the in-house GOBankingRates team.

Read More

The Trick to Getting the Best Price at a Car Dealership
Close popup

Sign up for more financial tips and tricks!

Are you saving for a house? Starting to invest? Whatever your 2021 financial goals are, we can get you on the right track!

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

Don't forget to add as a contact to ensure you receive our emails to your inbox!