There is nothing more exciting than buying a new car. You can’t beat the thrill of making such a big purchase. You do want to be sure that you are getting the best deal. So, what are some steps you can take before heading to the dealer? Be sure you have studied your https://www.car-buying-strategies.com ahead of time.
It can be a little overwhelming when you first start your search process. There are many things you can ahead of time to ensure you are getting the best deal at the dealership. So, let’s take a look at some tips and hints for new car buying.
10 Tips For Getting The Best Deal
1.Do your research.
The single best thing you can do to help yourself when buying a new car is to do your research. There are many sites and publications that can give you comprehensive information on the car you are considering purchasing. When you go to these sites, there is a wealth of information available. You can find out the sticker price and the invoice price (which is the price the dealer paid).
Knowing these numbers will give you some idea of where your negotiations should be when you are making a deal. It will help you to know what your starting point should be and where you hope to actually end up.
2.Find out what your financing options are before you go to the dealer.
This is a very important step. Most people assume they will qualify for financing at the dealership and use the dealership’s bank. This is not always a good idea. If you have good credit, it is possible that you can find a better financing deal with a lower interest rate and better terms at another bank. A good place to start is with your own bank. Check to see if there are any special deals for financing through them if you are already a customer.
You can also shop around online for better financing options as well. Gathering all of this info before heading into the dealership will help you know how much you can spend and having already qualified for financing lets the dealer know that you are a serious buyer.
3.Don’t be afraid to shop around.
It is important to remember that you are in control when shopping for a new car. Be sure to take your time and visit a few different dealerships. It is very possible to get a better deal, price, options, financing from a second or third dealership. You should never feel pressured to take the first offer at the first dealership.
It can be exciting to shop for a new car. Be careful not to get so wept up in the excitement that you don’t look around. You do not have to take the first deal that you are offered. Dealerships should be trying to earn your business.
This cannot be stressed enough. You have every right to negotiate terms at the dealership. This is a huge investment and you should remind yourself of that. Dealers will expect that. Before you head to the dealership have a number in mind that you are willing to pay monthly. From there, you can negotiate the number of months of your loan.
If the dealership won’t budge on the number or the months of your loan, maybe you can negotiate some extras. Oil changes, a full-size spare tire or detailing packages are nice extras to have thrown in.
5.Look at the total price.
When watching ads for cars, it is tempting to be swayed by a low monthly price. But beware of this. Often times these super low prices are for a 72 month or longer payment plan. Instead, look at the total MSRP price when deciding if it is in your price range. Since cars depreciate as soon as they leave the lot, a 72 month payment plan may not be so consumer friendly.
If the only way you can afford the car is with a 72 or 84 month loan, perhaps this isn’t the right car for you. Take a hard look at all of your finances and make sure you are not overextending yourself or your budget.
6.Don’t be afraid of looking for a used car.
Maybe a new car will stretch your budget a little uncomfortably. That’s ok, you can and should consider a used car. You should not automatically think that a used car means a 30-year-old junk heap. Many used cars today are actually leased cars that have been returned at the end of their agreement. This is a great opportunity to purchase a car that is 3 years old and has limited mileage.
Cars that have been leased are restricted to 10,000 to 15,000 miles a year. And when they are returned at the end of the lease, they are given a thorough inspection and detailing by the dealership. Purchasing a leased car can be a nice option when looking for a new car.
7.Mum’s the word.
If you plan on trading in an older car while purchasing a new one, don’t mention it until the last minute.
Make sure that you have finalized all negotiations and you have a firm commitment and agreement from the dealership. Once you have both reached an agreement as to the terms of your purchase price and monthly payments, then you can mention trading in your older car. In this way, you can then deduct an additional sum off the price you will pay. Do not let the dealer know you are planning this ahead of time.
8. Shop online
In today’s connected world it is possible to buy anything online, even a new car. There are many sites you can go to purchase a car. They will let you compare prices, negotiate terms and prequalify for financing. Some sites will let you complete the sale online and they will deliver your new car right to your front door.
In addition to dealerships online, there are other sites such as eBay Motors and Craigslist that have cars for sale. Be sure to check thoroughly and make sure the car is legitimate. This is a nice way to visit multiple dealerships virtually and make your selection without pressure.
9.Take a ride.
Whenever possible, take a test drive. This is the perfect opportunity to make sure the car performs the way it should. Make sure to take note of anything that seems “off” so you can discuss it with the dealership.
This is also a good way to see if you like the fit of the car. On paper it looked great But once you sat in the driver’s seat you realized that it was difficult to see out the rearview window because of the way the car slopes. Or maybe you have to duck your head while driving even though the seat is as far down and back as it can go.
10.Don’t forget your insurance premium.
When you purchase a new car, your insurance premium might go up. This is true especially if you are replacing an older car. If this is your first car then you need to remember that you have to pay insurance too. This will be an additional monthly cost in addition to your car payment.
Depending on where you live, you could be facing very high insurance costs. It is a good idea to shop around for insurance ahead of time too. This will give you a better idea of what your total monthly payments will be.
Purchasing a new car is always an exciting time. Nothing beats the feeling of driving a new car and enjoying that new car smell.
It is important to remember several things before you run out to the dealership. You need to remember that you are in charge and the dealership should try and work with you. Make sure you do thorough research before leaving home.
With all of the available sites, it is easy to research prices ahead of time. Know the difference between the MSRP and the invoice price, which is the price the dealer paid. This is where you will find your negotiating room.
If a new car is maybe a little bit too expensive for your budget, consider a used car. You can purchase a used car from a dealership, eBay Motors or Craigslist. Be sure to check the car out thoroughly before handing any money over.
A used car from a dealership if often a returned leased car. These cars make great deals. They have been driven a limited number of miles and have been completely inspected and detailed by the dealership. Since most leases are 3 years, this will be a younger used car.
And don’t forget to consider all the other costs a new car will bring. These other prices will be the insurance premiums and gas. Once you are armed with all of your research and info, you are ready. Enjoy the process and enjoy your new car!