Preparation is key when buying a new or used vehicle from a car dealer. Walking onto a dealer’s lot without doing your research in advance can end up costing you thousands of dollars or missing a great deal on the car of your dreams. Before stepping into a car dealer, do comprehensive research to gain knowledge that will strengthen your position and help you get the best overall deal.

Read on to learn the top things you should research before visiting a car dealer.

Check Inventory and Availability

Before walking into a car dealer, you’ll want to check their current inventory and availability of vehicles you’re interested in buying. Due to production issues, many new models may be in short supply or involve a long waitlist. Check the car dealer’s website to see what’s on the lot so you’re not disappointed.

For used vehicles, you’ll want to see if they have a good selection in your price range. Take some time to get the know the vehicles that catch your eye. You can use websites like Edmunds, Car And Driver, or KBB to read about specific makes, models, and years to determine if the car is a good fit.

Check Prices and Negotiating Power

Knowledge is power, so research the prices of any vehicles you’re interested in. Check vehicle valuation guides like Kelley Blue Book to determine a fair price range for the specific vehicle you want with its options and mileage. See what similar vehicles are selling for at other area car dealers and private sellers. The more informed you are about a vehicle’s value, the better prepared you’ll be to negotiate the best deal at the car dealer.

Consider Additional Fees

Don’t forget that the sticker price at a car dealer isn’t the final price you pay. Make sure you understand additional fees like destination charges, documentation fees, and dealer prep fees. Check if your state charges sales tax and what percentage. Negotiate the best overall price for the vehicle, not just the best-selling price. Ask if the car dealer offers any additional discounts or rebates you may qualify for.

Check Financing Options in Advance

If you need to finance your next rig, check with banks and credit unions before you head to the car dealer. Get preapproved for an auto loan so you know your budget limit and the best interest rate you can get. That way, the finance person at the car dealer has to beat that offer for you to finance with them. Having your own financing lined up in advance gives you more leverage to negotiate the overall best deal.

Conclusion: Knowledge is Power

Doing your homework is critical to buying a vehicle from a car dealer. Performing thorough research before you walk into a car dealership will ensure you feel confident in your decision and get the best possible overall deal on your new wheels. Prepare, shop smart, and don’t feel pressured. By taking your time to research inventory availability, fair pricing, fees, and financing options in advance, you’ll avoid hassle and end up happier with the keys to your new ride in hand.