Getting ready to walk onto a dealership lot this holiday weekend? Use the breathing room of the long break to land a price, loan, and overall deal that feels good the moment you turn the key. Preparation turns stress into confidence, and remember, you can always thank the salesperson for their time, head to the door, and keep looking if the numbers do not add up.

Here are some tips for negotiating the car price:

• Do Your Research: You mentioned that you were trying to define the specific make and model you’re interested in. This is a great first step! I recommend using resources like Kelley Blue Book, Edmunds, and NADA Guides to understand the fair price based on features, mileage (if used), and local market conditions (i.e. tariffs may have an impact).
• Focus on the Out-the-Door Price: Dealers often try to focus on the monthly payment, but this can hide extra fees and a higher overall cost. Always negotiate the “out-the-door” price, which includes the car’s price, taxes, fees, and any add-ons. This gives you a clear picture of the total cost.
• Be Prepared to Walk Away: This is one of your most powerful tools. If you’re not getting the price you want (or feel pressured), be polite but firm and be ready to leave. Often, this can lead to a better offer.
• Shop Around: Don’t feel obligated to buy from the first dealership you visit. Contact multiple dealerships, compare their offers in writing, and use the best offer as leverage at another dealership.
• Additional Fees: Dealerships may have additional fees or “add-ons” that seem unnecessary (like paint protection, VIN etching, etc.). I recommend having the dealership outline these for you. You can often decline or negotiate the price of these.
• Time Your Visit: As noted earlier, with the holiday weekend approaching you may get some additional deals. Visiting at the end of the month, quarter, or year can work to your advantage, as dealerships may be trying to meet sales quotas.
• Stay Calm and Stick to Your Budget: By doing your homework and being prepared, you’ll be in a much stronger position to negotiate a favorable deal. You can do this!

If you plan to finance the car, here are some tips for negotiating the loan:

• Get Pre-Approved for a Loan FIRST: Before you talk to the dealership about financing, get pre-approved for an auto loan from your bank. This gives you a benchmark interest rate and loan terms. It also shows the dealership you have other financing options, which can give you leverage.
• Negotiate the Interest Rate: The interest rate offered by the dealership is often negotiable. They may not initially offer you the lowest rate you qualify for. Use your pre-approved rate as a negotiating tool and ask them to match or beat it (Note that the dealership can mark the interest rate up. By knowing your own pre-approved rate, you can push for a better rate).
• Focus on the APR, Not Just the Monthly Payment: When discussing financing, look at the Annual Percentage Rate (APR), which reflects the total cost of borrowing, including fees, over the loan term. A lower monthly payment might seem appealing, but it could be due to a longer loan term or a higher interest rate, costing you more in the long run.
• Question Add-ons in Financing: Be cautious of optional products like extended warranties and add-on insurances being rolled into your loan without a clear explanation of the cost and whether they are necessary. You can often purchase these separately or from other providers at a lower cost.
• Understand the Loan Term: A longer loan term means lower monthly payments but you’ll pay more interest over time. Discuss different loan terms and see how they impact the total amount repaid.
• Don’t Divulge Your Maximum Budget or Monthly Payment Until Necessary: Avoid stating your absolute maximum budget or ideal monthly payment early on. Focus on getting the best overall price and interest rate first.

Final Pep Talk

Negotiation is just a structured conversation. When you know the market value, the real total cost, and your financing power, you hold the strongest position in the room. Use the holiday lull to shop smart, trust your homework, and drive off only when the deal matches your goals. Happy car hunting!