The process of purchasing a car can be stressful especially for women. Car showrooms can be intimidating environments for everyone, regardless of gender. But according to a 2015 Yale research, women are often offered list pricing of $200 more than men. Besides, another survey of 2016 by Beepi Inc. revealed that compared to millennial men, 49 percent of millennial women feel duped into buying extra, useless features. So, how to negotiate a car as a woman? Easy. Just be prepared!
These numbers do not imply that women shouldn’t feel powerful when entering a car dealership on their own.
According to Kerri Wise, vice president of Industry Relations and Education at TrueCar, “purchasing a car is the second-largest purchase decision most individuals make after buying a home, and it can be a stressful, overwhelming experience.”
Consumers are faced with a choice between more than 30 brands and 300 models. On top of the dilemma of whether one should buy new or used cars and how much they’re expected to pay.
Women should do their research to determine the answers to some of those queries to feel more prepared before entering the dealership.
“Today, there is online information about wealth, including expert and consumer reviews, vehicle comparison tools, details on safety and technology features, as well as information on vehicle pricing and trade-in valuation, to help you choose the car that’s best for you and to get a fair price on your trade-in and a new vehicle,” said Wise
How to Negotiate a Car as a Woman?
Figure out Your Budget
The first thing you should do is make a budget and follow it. Remember to consider the automobile’s total cost, including taxes, fees, and any possible interest. Don’t just base your purchases on the price you have to pay each month.
Wise advises using websites like TrueCar to help you get an accurate idea of how much a car will cost.
“You can get upfront reduced pricing on inventory from local licensed dealers and discover what others in your region spent on average for your vehicle of interest,” they said.
Choose the Things you Absolutely have or Want
According to Wise, whether it’s a sedan, a small SUV, or a pickup truck, you should decide which vehicle best suits your lifestyle. “Do internet research about the car, check out reviews, and talk to your friends, family, and coworkers. This process can be made more accessible with models flexibility and alternatives.
Specify Your Choices
Sonia Steinway, co-founder, and CEO of Outside Financial, noted that it would be much simpler to compare actual vehicles at your local dealerships if you could limit your options to two or three models.
Get a Trade-in Value Estimate for Your Existing Vehicle
According to Wise, 40% of customers who buy from a dealership car already have one that they want to sell. Therefore, don’t overlook your trade-in.
Online resources like TrueCar’s True Cash Offer estimate your car’s value based on its condition.
According to Wise, knowing the value of your current vehicle will help you determine how much you can spend on the car’s transaction price.
Search for a Reputable Dealer
Finding a trustworthy dealer is one of the essential thing, to avoid being scammed. Women can get recommendations by asking their friends or relatives.
Additionally, ensuring the dealership reliability can be done google reviews.
Compare Dealers to get the Best Price
Allow the dealers to do the legwork for you when negotiating the price of a car. “If you detest making phone calls as I do, I advise emailing a few dealers to get their best drive-away prices on those particular automobiles.” According to Steinway, phone calls can work well if you don’t mind conversing in real time with live people. Play each dealer against the other and make them compete to give you the best price.
Dealers frequently claim that they won’t compete with other dealers, but if you present them with a better offer for the same model, they will comply.
Specify How you’ll pay for the Car
Regardless of how many automobiles you’ve bought or if this is your first time, you should be ready with your loan options before going to the dealership.
When paying for your vehicle with a loan rather than cash, be wisely prepared. The two critical factors in this scenario are your credit score and the loan’s length. Keep your loan terms as brief as possible to pay less interest.
Wise suggests confirming your eligibility with your bank or credit union before visiting the dealership. You could compare the loan offer you get after being pre-qualified with the one you get at the dealership.
Enter the Dealership with Confidence
According to Steinway, you must enter the dealership acting confident. You’re going to engage in a substantial transaction. Therefore, you deserve respectful behavior. Repeat this to yourself numerous times before you enter the dealer’s lot. If the dealer doesn’t give you the respect you deserve, walk away. Because there are tens of thousands of dealerships and an increasing number of internet options, there is no reason for anyone who mistreats you to get your business.
Inquire about any Special Financing Deals
You won’t know any financing options to reduce the cost of your auto loan unless you inquire about them.
Remember to explore any ongoing financing deals at the dealership. The lending divisions of auto manufacturers frequently provide special financing offers.
Bring all Required Paperwork
You must carry two important documents while visiting the dealership: your driver’s license and proof of insurance. In case, you are trading in your old car, then you must get the title, registration, and any loan paperwork.
When negotiating, having an objective point of reference can be helpful. According to Lauren Fix, The Car Coach, researching online and printing out documents for prices, incentives, and what you want will unquestionably make you more prepared and less intimidated.
Also, remember that it’s OK to ask questions, no matter how obvious they may appear to an expert in automobiles. The more initiative you demonstrate, the more difficult it will be for dealers to con you.
And most importantly, avoid allowing emotions to influence the car-buying process. Keep your emotions out of the car-buying process by doing your research. When deciding which brand and model to buy, prioritize your needs and wants while researching.
Think about Bringing a Friend or Family Member to the Dealership
Richard Reina, product training director at CARiD.com, advised, “Bring along a trusted friend or relative. They can act as your champion and prevent you from being sidetracked by a flashy, too-good-to-be-true offer that the salesperson might make if you share your list of questions and wishes with them.”
Test-Drive the Car You’re Interested In
Whether buying new or secondhand, Wise emphasized the importance of test-driving. Before making any commitments, do a thorough vehicle walk-around.
Do not feel obligated to purchase immediately. Ask the dealer if you may take some time to decide if you want to buy a car or specific add-ons.
Think about Buying a Car Online
You can buy a car online if you don’t feel at ease in a showroom. Instead of dealing with the pressure of one-on-one conversations, you’ll have time to consider the offers.
Authored by Afifa Maryam Siddiqui
Edited by Yara Fakhoury
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