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Driving the negotiation - How to get a better car deal

You're in the market for a new car. You've done the research, found your dream car, and now you're gearing up for the negotiations. Here are some tips that will put you firmly in the driver's seat when wheeling your best deal.

1. Get pre-approved first. Come in and talk to your credit union about how much you qualify for, so you know exactly how much you can spend. You'll also find out we offer one of the lowest rates in town!

2. Tell the salesperson you plan to pay cash. Having your financing pre-approved is like having cash in hand. Not only does it accelerate the process, it also lets the salesperson know right away that you're a serious buyer.

3. Shop and compare. Visit 3 different dealers for the same car. Depending upon their inventory and incentive programs, some dealerships may be able to offer you a better deal. Just knowing they're in a competitive position may help them knock down the price.

4. Buy at the end of the month. Most dealerships have monthly quotas and sales targets. If you purchase the car and take delivery just before the end of the month, you may be able to negotiate a lower price from a dealer trying to make their numbers.

5. Ask about unadvertised cash back offers. If you don't finance the car through the dealership you may qualify for cash back, which you can apply directly to the cost of the vehicle.

6. Beware of 0% financing. Dealers sometimes offer 0% financing on less reliable vehicles. You may save money up front, but end up paying more in repairs and depreciation down the road. It's a good idea to research the car using an independent source.

7. Find out what a dealer paid for the vehicle. This information can be helpful in negotiating the deal, and is available for a fee at www.carcostcanada.com.