Congratulations on your approval! ?
Here is some free advice on negotiating with a dealer.
The main advantage when dealing with these people is that you are confident in the price and value of the car you wish to purchase. Make sure you research the price on-line at www.carsales.com.au or the like. This will make them see you are not a “wood duck” as they call people who they think they can ripp-off!
Don’t be scared to walk out if you cannot reach a price you are comfortable paying. They will probably chase you out the door!
If you are able to, call me with the full car details and I will tell you how much we can cover of the total on-road cost. If not, tell the dealer you cannot finance more than 100% of the retail price. For example if you found a car that retails for $15000.00, the trade price would be around $11000.00 – $12000.00 . The trade price is the amount a dealer would offer you to trade it in to them. Ideally you would like to be paying around $14,000.00 INCLUDING the on road costs.
You can access www.redbook.com.au which can give you an idea of what the car is worth but it will not do any adjustments for low or high klms if you cannot reach me.
Also keep in mind that the value of any ‘extra’s on a vehicle will not be covered by the lender. If the dealer is charging more money for a car because it has bigger rims, body kit, side steps, upgraded stereo system etc, you will most likely have to pay the difference out of your own pocket. Try to stick to a car that is standard for that model.
Once you have negotiated and wish to buy the car make sure the two following conditions are added onto your “Contract of Sale’. If they won’t add it on, don’t sign it!
1= Refund deposit on cancellation of contract if satisfactory approval on vehicle not given by YOUR lender.
2= (Optional) Subject to satisfactory Inspection Report
We have a number of dealers that we do business with so if you would like me to arrange someone to call you, please let me know. ?
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