Stop Overpaying for Cars: Here’s How One Email Can Save You Thousands

Berki Alin / iStock.com

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

The car-buying process can feel like an uphill battle, with countless models to choose from and pricing options that seem designed to confuse. However, an often-overlooked strategy can dramatically simplify this task and ensure you’re not overpaying: a well-crafted email sent to dealerships. Here’s how a single email can leverage your position, giving you control over the purchase process and leading to substantial savings.

Preliminary Steps Before Crafting Your Email

Before diving into the intricacies of drafting a powerful email, it’s important to lay the groundwork with thorough research and in-person evaluations. This initial phase sets the stage for a more informed and effective negotiation. Here’s a brief on the steps to take.

Vehicle Research

Start with comprehensive research on the make and model you’re interested in. Understand its market value, consumer reviews and any common issues. This knowledge will not only help you choose the right vehicle but also arm you with valuable information during negotiations.

Test Drive

Visiting a dealership to test drive your chosen vehicle is a critical step. This not only confirms your interest but also gives you a firsthand experience of its performance, comfort and features. Make a note of the vehicle’s specifics, including the model, options and packages, to accurately communicate your requirements in the email.

Financing Pre-Approval

Securing pre-approval for a car loan from your bank or credit union gives you a clear idea of your budget and strengthens your negotiating position. It signals to the dealer that you’re a serious buyer with ready financing, potentially speeding up the transaction process.

Identify Potential Dealerships

Research dealerships that have the vehicle you’re interested in. Look for those with high customer satisfaction ratings and consider those further away if they offer competitive pricing. Preparing a list of dealerships to contact increases your options and the likelihood of finding the best deal.

How To Write the Perfect Email

Here’s how to structure your email to maximize its impact:

• Introduction and intent: Begin by mentioning that you have identified the vehicle you intend to purchase and note that you have already taken it for a test drive at a local dealership. This shows you’re serious and not just browsing.
• Purchase readiness: Clearly state that you are prepared to make a purchase by a specific date, which indicates to the dealer that you’re a motivated buyer, increasing the likelihood of receiving a more competitive offer.
• Vehicle specifications: List the essential features your chosen vehicle must have and distinguish these from the options you’re flexible about. This helps the dealer understand your priorities and tailor their offer accordingly.
• Pricing transparency: Demonstrate your knowledge of the vehicle’s invoice price, including the cost of your desired options. Acknowledge any special programs, like loyalty incentives or dealer cash, you discovered during your research. This signals to the dealer that you’ve done your homework and expect a fair deal.
• Financing: Mention that although you’re pre-approved for financing, you’re open to exploring financing options through the dealer, simplifying the transaction for both parties.
• The 24-hour challenge: Finally, request the dealer’s best offer within 24 hours and express your willingness to place a credit card deposit over the phone to secure the deal. This creates a sense of urgency and encourages the dealer to put forward their most competitive offer promptly.

Why This Approach Works

This strategy leverages the competitive nature of car sales by making dealerships bid for your business. It cuts through the traditional back-and-forth of in-person negotiations and places you in a position of power. You set the terms and conditions of the sale, rather than being led by sales tactics designed to maximize dealer profit. Furthermore, it saves you time, reducing the need to visit multiple dealerships in person.

Final Take

By taking a strategic approach to your car purchase, you can save thousands of dollars and avoid the stress of traditional negotiations. The key is a well-constructed email that communicates your seriousness as a buyer, your understanding of the costs involved and your readiness to act. This method not only simplifies the buying process but also ensures you get the best possible deal on your terms. Remember, in the car buying game, knowledge and preparation are your most valuable assets.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

Share This Article: