NEGOTIABLE PARTS OF YOUR CAR FINANCE/LEASE

Introduction• Making the decision to purchase a new car is something

that a lot of people do. However, they also know they need to conduct some research and learn how to negotiate when they need to the car dealership.

• What are some things that you can negotiate with the dealership?

The Sticker Price• Here's a major factor that you can negotiate with the car

dealership. Bring in quotes for the price of the car from different dealerships in the town.

• You can also look into the current value of the car that you want to buy.

• The dealership might not meet the exact price quote that you bring in, but you can at least use it as a bargaining tool and hope to meet somewhere in the middle.

Length of Loan Agreement• Perhaps you are unable to get the total price of the car

lowered, but you still want that particular vehicle.

• Now, if you did a finance for three years, the monthly payments are going to be a lot more expensive than if you did a finance agreement for six years.

• Find out if extending the length of the loan's life is a possibility to lower the price.

Monthly Payments• Of course, everyone wants to have monthly payments.

• Still though, when you want to have the monthly payments lowered, you are essentially going to either have the overall sticker price lowered or the length of the loan expanded.

• When you are in negotiations with the car dealership, state what your monthly payment expectations and abilities are; be honest about the amount you can afford to spend and ask how you can get to that figure.

Interest Rates• It can be difficult to negotiate on the interest rate, and this

fact is especially true if you have poor or fair credit scores. Basically, the lower your credit score is, the more you are going to have to pay in interest.

• If you have good, excellent or perfect credit scores, then you might have room for negotiations here.

• Even if you do not, find out if it is possible to refinance in a few months when you have better credit scores. Refinancing might be able to help you get a lower rate.

The Service Plan• When you purchase a new car, you may very well get a

service plan.

• These types of plans ensure that you receive a reasonable rate and package on service for a certain amount of years; however, extended service plans tend to cost more money.

The Service Plan• Therefore, you should ask if it possible to lower the price

of the service plan.

• They will likely be able to roll it into the monthly payment on the car, so at least you will just have to worry about making one payment.

Conclusion• Having a car finance or a lease means that you finally are

able to drive a new vehicle and have that freedom.

• To keep your financial situation in order, look into these negotiable parts of such an agreement.