Last post on Dec 05, 2010 at 5:07 PM
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#1 of 1 How to Determine What Price to Pay for a New Vehicle
Dec 05, 2010 (5:07 pm)
The following guide will show you how to determine what price to offer for a new car or truck.
Step 1: Decide what vehicle you want.
Step 2: Look up its True Market Value on Edmunds.com.
Once you know what vehicle you want, up its True Market Value (TMV) price in the new vehicle pricing section of Edmunds.com: Edmunds.com - New Vehicle Pricing. The TMV price will give you a general idea of how much you will have to pay for the car or truck you want. Savvy shoppers who are in areas that have a decent level of competition can usually beat the TMV price by shopping around.
Step 3: Look up what incentives are available on it.
Next look up what cash incentives are available on the car or truck that you want in the incentives section of Edmunds.com. Customer and dealer cash incentives are allowances that are paid for by vehicle automakers to help boost the sales of models. They are completely paid for by your vehicle's manufacturer and have nothing to do with dealers. Take any cash incentives that are available on the car or truck that you want and subtract them from its True Market Value. As I mentioned earlier, there is a good chance that you will be able to negotiate a lower price than this, but this will provide you with a good baseline for how much you should pay for your new vehicle.
Step 4: Check out the "Prices Paid" discussion for the vehicle that you want.
Make sure to stop by the discussion for the vehicle that you want over on the "Prices Paid: Buying & Leasing Experiences" Forum at Edmunds.com. Thousands of Edmunds.com's forum community members share information on their recent purchase experiences and their opinions on deals there.
Step 5: Decide upon a price
Now it's time to come up with the price that you are willing to pay for the vehicle that you are interested in using all of the information that you have collected. It never hurts to start out your initial offer for a vehicle a little lower than you are willing to pay for it. It's a lot easier to come up in price than it is to come down if you think that you started too high.
Prices Paid: Buying & Leasing Experiences Forum