I’ve had a lot of people asking me how to get the best deal on a new car. In this post, I’ll give you some general tips that should apply to most situations, but before we go any further, let me first state that the very best way to get the best deal is to simply walk into a dealership and say “I want the best price you can give me, and I’ll be on my way” — no haggling, no negotiating whatsoever. Of course, if you have time, you may want to negotiate a little bit. But if you’re in a hurry — and who isn’t these days? — then this simple strategy should work well for you.

There are three things you need to know to get the best deal on a new car.

1. The price of the car.

2. The amount that dealers like to make on each car.

3. How much they like you.

The first is easy: just look it up in a price guide or on the web. Most retail car buyers look at the list price and assume this is what they will pay; in fact, most dealers sell cars below list price and make their profit by marking up the financing. So if you are paying cash, you have more leverage than most buyers realize.

The second is also easy: ask the dealer how much he wants to make on your car, and act accordingly. Most dealers want an average of about 15% gross profit per sale — about $1500 on a typical new $10,000 car — but some want as little as 5% and some as much as 25%. This information isn’t public, but it’s not secret either; any good salesman should be willing to tell you how much his company wants to make on your car if you just ask him straight out: “How much do I have to pay for this car to give your company a 15% gross profit?” If he says something vague

The average profit on new cars is $3,000, and the average car sits on the lot for 60 days after it arrives. A consumer who buys a car right off the truck can hurt the dealership’s chances of maximizing its profits.

The pressure to maximize profits discourages dealers from discounting their inventory immediately, which means the consumer has to have some patience if they want to get a good deal.

A typical consumer will spend about 6 hours researching a new car before purchasing, but if you’re going to buy a new car anyway, spending an extra hour or two could save you thousands.

Here are three strategies that will help you find the best deal possible:

1. Watch and wait.

There’s no reason to rush into buying a new car, so take your time with your search. This will give you more time to research what you want and at what price, as well as give dealerships time to offer discounts or other incentives.

2. Negotiate online first.

Dealerships are more willing to negotiate online than in person, so narrow down your choices and send them an email requesting their lowest price on that particular model. If they don’t respond, contact another dealer and continue until you find one willing to work with you

New cars lose a huge chunk of their value the moment they leave the lot. In fact, your new car loses 11% of its value the moment it’s driven off the lot and another 15% within the first year! But that doesn’t mean you should be paying full price.

If you want to get the best deal on a new car, you need to know how to negotiate. Unfortunately, most people hate haggling. And negotiating with car salesmen is even worse. Because of this, many people just go with whatever price they’re offered and/or accept unfair financing terms.

But not you! You’re going to use your knowledge of how cars are priced to beat the salesman at his own game. Here’s what you do:

1) Figure out what car you want and do some research on true market value

2) Visit a few dealerships without talking to any salesmen

3) Get quotes from the Internet sales departments of those dealerships

4) Have a friend call in and get quotes from those same dealerships (if possible)

5) Buy or walk away

There are a lot of myths and misconceptions when it comes to buying a new car. Most of these are perpetuated by the dealer’s sales staff, who are paid to make you think buying a new car is much more complicated than it really is. What they don’t tell you is that the process is actually very simple. Here’s how it works:

A dealer buys cars from the manufacturer at a discount, then sells them to you at a markup. In order to get the best deal possible, you need to find out what the dealer paid for each car (also known as the invoice price), then offer him something less. If he accepts your offer, congratulations! You just got yourself a great deal on a new car!

NOTE: This doesn’t apply solely to new cars. The same process can be used to buy used cars as well.

1. Choose a vehicle based on intended purpose and budget

2. Do your research

3. Review dealer & manufacturer incentives and rebates

4. Set up a test drive

5. Discuss pricing with the salesperson

6. Evaluate the trade-in value of your current vehicle (if applicable)

7. Finalize the deal

I just got a great deal on a new car. I’m not a car guy, so when it was time to buy one and I found myself walking into a dealership, I was intimidated and afraid of getting ripped off.

I wish I had done more research before buying my last car.

So this time around, I spent days researching and learning everything I could about the process of buying a new car. And by that, I mean spending entire days on the phone with friends that work at dealerships, talking to people on reddit who had recently bought cars, calling banks and credit unions to compare rates, and reading countless articles online.

I learned a lot. Here’s what you need to know: