Find Your Own 'Best Deal' on Your Next Car

You're probably a master at haggling...

Maybe you have war stories about duking it out with a sleazy car salesman... going back and forth until he accepted your terms. 

And patient negotiation can definitely save you money. Other popular tips include looking for leftover cars from the previous model year... shopping at the end of the month when a dealership or salesperson is looking to fill a quota... checking the paperwork to make sure the numbers and other terms match what you agreed to... and walking away from a deal that isn't working.

But even if you're the best haggler, you can still waste money if you haggle over the wrong car.

You might have a sense of what makes a deal "good" – some percentage or dollar figure that you knocked off a car's sticker price or the dealer's first offer. But as the auto expert on Doc Eifrig's team, I (Brady Holt) want you to think about getting a good deal a little differently.

I want you to find your own "best deal."

That means spending the least amount of money to get what matters to you.

I detailed this philosophy, along with other car-buying tips, in a new report for Doc's Retirement Millionaire subscribers. (If you're already a subscriber, you have access to the full report here... If not, click here to learn how to get access for 70% off the normal price.)

But today, I'll explain what I mean about "your own best deal" versus standard haggling... and other ways that the right mindset can save you thousands of dollars on your next car.

Let's say you're looking at a car with a sticker price of $36,000, and you haggle it down to $30,000. Congratulations...

But perhaps you'd have been just as happy in a $31,000 car that you can only haggle down to $29,000 – or a $29,000 car that the dealer won't budge a penny on.

In this case, the $6,000 in "savings" you haggled over counts for nothing. That deal is worse for you than the low-discount $29,000 car.

Look critically at all the pieces of the car you're buying...

A $1,200 sunroof that you don't want isn't worth $1,200... It's worth nothing.

If you don't have a preference between a Honda Civic and a Toyota Corolla, then any extra you spend on the Honda is wasted – even if the Honda dealer offers you a bigger discount off a higher starting sticker price.

Also, some starting prices are just numbers games... artificially inflated figures that are designed to come down. Other automakers or dealerships cut to the chase and open with a fair price from the start. Or there might even be a markup from the sticker price.

None of that matters.

Find your own best deal. Focus on the bottom line – which deal would get you what you want for the least amount of money? That's the deal to take... Everything else is noise.

As you sort through your car choices, you can also save thousands by carefully considering your wants and needs...

Many of us hold ourselves to a budget that separates our necessities from our discretionary spending. It's a good exercise to ensure we have enough money to go around and don't spend ourselves into ruin.

For most folks, a car falls into the "necessities" side. It's our way of getting everywhere we need to go.

But how much "car" do you need to meet that necessity? Four wheels and a seat? Enough room for a family of five? What else is an absolute must?

That minimum is your necessity... The rest is an indulgence.

I certainly won't begrudge anyone an indulgence that they can afford and appreciate. What's the point of wealth if you can't enjoy it?

But when you choose your next car, you may find there's a better use for your money.

Perhaps you'd love a swanky, powerful $62,000 Toyota Sequoia full-size SUV... But maybe you'd rather have a four-cylinder $41,000 Toyota Grand Highlander plus a $21,000 bathroom renovation.

Maybe you're interested in a $28,000 Chevrolet Equinox compact crossover... But you'd be happier buying a subcompact $23,000 Chevrolet Trax and spending the extra $5,000 on that European vacation you've always dreamed of.

Maybe you'd value a $44,000 Ford Ranger Lariat pickup with leather seats, a 10-speaker premium stereo, and automatic climate control... Or maybe you'd be more comfortable in a $36,000 Ranger XLT so you could set aside the remaining $8,000 for your retirement.

That's not something I can answer for you. It's up to you where in your life you'd like to spend freely and where it's more natural to pinch pennies.

The thing is, cars are so expensive that even a seemingly small price difference between two models – or even a single optional feature – can be a big deal for your overall household budget...

When you choose your next car, carefully consider your wants versus your needs – and be sure you're spending your hard-earned money on the right indulgence for you.

Then it's time to put those haggling skills to work.

Doc's Retirement Millionaire subscribers can read more of my car-buying tips in a new report called "How to Beat the Auto Market." They also have access to "The Retirement Millionaire Car of the Year for 2025," in which I highlight three of my favorite new models.

If you're not already a subscriber, click here to claim your 70% discount for a year of Retirement Millionaire. In addition to my two reports, your subscription includes Doc's monthly stock recommendations, personal-finance tips, and health advice – plus my own "Car of the Month" auto reviews.

And if you have a car question or want to share your experience, send us an e-mail: feedback@healthandwealthbulletin.com. We read every letter.

What We're Reading...

• Did you miss it? Searching for value in the auto market.

• Something different: Inside a Google Street View car: A celebrity on wheels.

Here's to our health, wealth, and a great retirement,

Brady Holt with Dr. David "Doc" Eifrig
May 20, 2025