SANTA MONICA, Calif. — Edmunds.com has released an online tool to help consumers determine the expected price – and boost their bargaining position – on a new-car purchase.
Edmunds’ “Simplified Pricing” calculator uses the four-square worksheet commonly used in dealerships nationwide. The calculator walks users step-by-step through the process to help consumers understand the fair price and monthly cost for their next new car.
“The ‘Simplified Pricing’ calculator is Edmunds’ newest tool to help empower car buyers at the negotiating table,” said Andy Wadhwa, director of product management at Edmunds.com. “We developed the calculator to make sure car shoppers come to the dealership armed with proper figures so that they are on equal footing with the dealers.”
The calculator uses four segments to price out a consumer’s monthly payment: 1) the cost of the new car; 2) the value of the trade-in vehicle; 3) the down payment; and 4) the term and interest rate of the financing. The “Simplified Pricing” calculator will use each of those factors to instantly calculate the overall cost and monthly payment that buyers can expect before they even walk into the showroom.
Edmunds.com “Simplified Pricing” calculator is available to car shoppers at http://www.edmunds.com/calculators/simplified-pricing.html.