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How to Get a Great Deal Buying a New Truck Blog Feature

By: America's Credit Union on October 7th, 2019

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How to Get a Great Deal Buying a New Truck

Car Buying | Personal Finance | Life | Budgeting

Dealerships are one of the last strongholds of pure price negotiation. Negotiating a price on a new truck, however, isn't like deciding on a price with a private seller; the dynamic of negotiating at a dealership is much different. A truck salesperson deals with hundreds of negotiations every year and they really know their stuff, while the average person shopping for a new truck only does so once every several years. 

This doesn't mean you should worry when purchasing a new truck; it just means you should do some homework before you visit a dealership. 


8 Tips to Get a Great Deal on a New Truck

1. Shop for What You Want

Stay focused on the truck you want — not the vehicle the salesperson may want to sell. When you find the truck that meets your needs, stick to it.

2. Research

With today's online research capabilities, consumers have access to loads of information about new vehicles and dealerships. You should know everything about the truck you want to purchase. Research the sticker price and look up comparable sales, and check out dealership reviews, too.

3. Set Your Budget

When determining how much you can afford to spend on a new truck, don't forget to factor in additional costs such as interest on payments, insurance, maintenance and repairs, and fuel. 

4. Get Pre-approved Financing

When you know your budget, visit a credit union to apply for pre-approval on a vehicle loan. Entering a car lot with a pre-approved loan amount gives you much more bargaining power. You'll be able to focus solely on the truck's purchase price without the distraction of negotiating dealer financing as well. Pre-approval also creates a hard-and-fast price ceiling. 

5. Be Aware of Packages, Bundles, and Dealer Financing

Dealership financing and bundles can alter a transaction. While dealership financing may offer no-interest options or rebate deals, the overall package is still not always your best deal. Make sure to compare to your credit union financing.


6. Visit Online Dealerships

You no longer have to drive miles and miles, spending time and gas, to visit multiple dealerships because you can shop online and negotiate with online salespeople. Work your best deal this way and get the vehicle you want.

7. Act Professionally

You and the dealer must work together to find a price that works for both of you. It's easy for negotiations to get heated, but do your best to keep emotions out of the picture.

8. Be Prepared to Walk Away

Have a bad feeling or can't settle on a reasonable figure? Your biggest strength in negotiation is the ability to walk away, rather than agreeing to a deal that ultimately doesn't seem right. 


Buy a New Truck with Confidence

If you've done your homework, be confident in what you already know about your budget, your pre-approved financing, and the truck you want to purchase. Seeing that you've done your research and arrived prepared, an honest dealer will work with you to reach a reasonable price on the truck that fits your budget and your lifestyle.

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Membership in America’s Credit Union is open to anyone who lives or works in Dallas, Rockwall or Collin Counties, Texas, and their family members. Employees of select employers may also be eligible. See our Membership page for details.