When you have looked for a new or used car, have you been frustrated and confused by the process? Perhaps all you needed was some helpful advice. Keep reading for some useful tips on how to buy a new car.
What To Do Before Visiting The Car Lot
You need to be informed when you step onto the car lot. How much can you afford to spend? How many passengers will be in the car? Is fuel economy a particular concern? Do you want two or more doors? Get it all down on paper, and bring it with you when shopping so that you don’t forget. One thing to make sure you do is get your existing car presented well, so that you get a good trade in valuation. In order to present your car in the best possible light, using quality car wash products will ensure your car will look it’s best.
Don’t let a salesperson talk you into purchasing a vehicle that you are unable to afford. A lot of people are swayed into buying a sports car by a salesperson. The salesperson’s job is to sell the car at the highest price, so do not give in.
Negotiating helps to save you a lot of money towards your purchase. A person should never end up paying the sticker price. Dealers pump these prices up so they can come down.
Think about what kind of vehicle you want to buy before going to a dealership. You should do some research online to learn more about different kinds of vehicles before you make your decision. You can also get a good idea of the expected price range of your desired car, so you won’t be caught unawares by a slick salesperson.
Get Your Finances Sorted First
Pay attention to the overall price of the vehicle and not just the monthly payments. The dealer can set the monthly payments at any amount, but this will extend your terms, resulting in a very high purchase price. Focus on negotiating a great price first. Then you can adjust the monthly payments.
When shopping for a car, it is wise to arrange financing in advance. This is simply for your own peace of mind. Though the dealership’s finance department may get you a better deal than the bank, it’s still wise to know what the interest rates will be prior to shopping.
Shop at month’s end. Everyone has a quota to meet each month. You might find a salesman is more willing to cut you a better deal if he is in the last week of the month and is still short of his quota.
Social security numbers should not be given until a deal is made. Many dealerships will try to get this information from you early in the game, and they will run your credit. If that ends up not being the dealership for you, getting credit reports pulled at several dealers may actually harm your financing options. Make sure the deal is ready before you start spouting out your Social.
While you think you are sure of what you want, it can be hard to locate it. Perhaps, you can’t get the exact features or color that you are looking for. You’ll live without heated seats!
Warranty Gotchas To Look Out For
Avoid As-is warranties when purchasing used cars. You will end up regretting this decision. At minimum, a dealer should provide you with a warranty of 30-90 days upon purchasing any vehicle. You are going to end up paying to fix the car, even if it breaks down right after you drive it off the lot.
The goal of a salesperson is to make the highest commissions. Some people forget this as they shop. Watch out for the add-ons and extras that might get attached to the purchase price. The most simple car can quickly rack up thousands more in extras.
Don’t overlook gas mileage. More economical cars may cost more upfront, but you can save thousands on gas over the next five years. You should consider your budget over the next five years instead of only taking into consideration what you want to spend on a car.
It’s usually better to do car shopping at the end of the month. Car salesman need to hit a quota per month, so this time is optimal for shopping. Come in a few days before the month ends so you can negotiate over time if you need to.
When you have your desired offer, mention the trade-in. You may not get the best deal for your old car, but you should be flexible as you do have a sales price on the new car you like. You need to seal the deal now that you’ve gone through all this effort.
It’s very important to test drive a car before you think about purchasing it. There may be problems with a vehicle that you may not notice without first test driving it. Really put your potential vehicle to the test, so there are no surprises when you decide to buy.
Be aware of low monthly payments which mask an extremely high total price. It is easy to get distracted trying to find that monthly payment that fits into your budget. There are salesmen who will definitely take full advantage of this and give you lower rates if you sign for a higher price tag. Also, read the fine print in your contract before you write your name on the dotted line.
Talk to your family or coworkers about dealerships they have used. See if their dealers are recommended. Find out about the service level and how their car is running after six months. If you are recommeneded to a dealership a few times, go there.
Get A Mechanical Report Before Signing On The Dotted Line
A mechanic’s inspection is key to a used car purchase. This will help you see any electrical or mechanical problems before you finalize the purchase. If any are found, you will have leverage when negotiating a fair price.
Have an appraiser look at your car, or find out its blue book value. If you trade in your car, you should know what you can get out of it. Armed with this knowledge, you will be able to haggle if you are offered a price that is unrealistically low for your trade-in vehicle.
Everything you’ve read here should guide you as you look for your next car, truck or SUV. With these tips, buying a car will be smooth sailing. Save this piece to read whenever you need to.