Buying a car can be tedious, miserable work. You have to find a car you like, then ensure you can afford it, and then deal with the salesperson! Make this situation less of a chore by reading this article and absorbing the great knowledge it has to offer you today.
When you are going to buy a car, you need to know ahead of time which features are essential for you in the car. Have a clear picture of what you want, so you can search for the right price as well as the right car for your needs.
Figure out the financing options before you even look at a car. Go in to a credit union or bank to talk in person. This will help obtain an interest rate you can agree with and a better understanding of your actual budget.
Read all of the fine print that is on the contract for the car you want to purchase. Even if you think the car salesman is being perfectly honest with you about everything involved, you need to make sure you are not signing anything that you will have regrets about later.
Be firm in what extras you want. Almost every salesperson is going to at least attempt to “upsell” you in an effort to get a bigger sale. Don’t let them pressure you into the next model up or features you don’t need. If they claim not to have the model you are looking for in stock, only the “better” one, ask if they can locate one at another dealer.
Never settle for the price that’s set for the car when you’re shopping for one. You must be a great negotiator and try to knock a little off the price. Every car dealership knows that they’re going to have to negotiate anyway, so they make the car seem like it costs more than they’d settle for.
Do not get all the extras offered during the negotiation. These things include extended warranties, clear coat and fabric care options. You can generally purchase these features after you have bought the car for a fraction of the price. Also, do yo really want to be paying for these few features over the length of the loan.
Most of us are looking for the best possible deal when shopping for our next vehicle. One way you can get a great deal is by utilizing the time of the month to your advantage. At the first of each month, auto dealerships must pay for each of the cars they have on their showroom floor. So, at the end of each month, these dealers are more apt to negotiate so they can get rid of some of these vehicles. If you shop during the last week of the month, you can get the best deals!
Know what is on your credit report before you attempt to purchase a vehicle. It will be used against you, and if you don’t know what’s on there, then they can manipulate the information to use it against your further. Stay well-informed, and make sure that they can’t get one over on you.
Avoid the warranty options offered by car dealers on used cars. They are almost always overpriced and usually do not cover the more expensive repairs that you would want to have done Instead, purchase your warranty separately from a trusted warranty company that you find on your own. If you do not know of any, ask a friend or family member for advice.
When in the finance office, read your final contract thoroughly. Many dealerships will try to rush you through this step, and they may change important information or financing terms as a result. Make sure the terms are exactly what you agreed to. If they are not, ask them to make changes before you sign anything.
The goal of a salesperson is to make the highest commissions. Therefore, exercise good judgement when making a deal. Be wary of extras they try to tack onto a closing sale. Even a sweet deal of a car can rise up in price fast.
Never give your trade-in’s keys to the dealer before you’ve come to an agreement. The dealer could take your keys (and thus, your car) hostage and manipulate you into an unfair deal. Always hold on to your keys and if the dealer wants to take a look inside the car, open it up for them while you hold the keys.
Never buy a car without test driving it first. That even includes brand new cars and trucks. Not only do you want to make sure the car is mechanically sound, you also want to see how the car fits you. Decide if the car “feels” right. Some cars are not designed for taller people, for instance.
You want to look sharp but not rich when buying a car. If you are decked out in your finest, then the dealer may think you are loaded.
Understand that a lower payment does not mean the same as lowering the price of the car. It is pretty easy to get to almost any payment by reducing the interest rate and extending the terms of the loan. If you can qualify for a reduced interest rate at one price, you can certainly qualify at a lower overall price for the car. Extending your payment terms just obligates you to pay longer, and it does nothing to reduce how much you will actually end up paying out of pocket.
When trading in your car for a new car, find out how much it is worth before going to the dealer. Usually the dealer will go way low on your trade. Do not fall for this trick. Have proof from NADA and Kelly Blue Book about how much your car is worth and do not accept less.
Now that you have the knowledge from this article, you should be fully prepared to go out there and make that salesperson work for you. You’ll get a great price, find an amazing car and do it all in record time. You’ll wow friends and family who will want you to help them next time they need a car!