Best Money Saving Strategies When Purchasing Your Next Vehicle |
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Greg James
January 31, 2013
Not everyone enjoys shopping for a new car, though most love driving them. Doing your homework will go a long way in taking the mystery out of the process. Start by following all of the advice here on your road to success.
Look for a car on the web. Almost every make and model is available online. Absorb every piece of information about a vehicle before you think about buying it from a lot. By researching online, you can find specs, gas mileage data, resell value, ratings and almost any other information that you desire.
Spend time shopping for cards online before you leave your home to visit the lots. This will give you an estimate of how much your desired vehicle costs in your area. You can also find out other details about the car, including any available options.
Begin having negotiations at wholesale or invoice pricing. You can get this by visiting any number of websites. Paying the invoice price or a little more is a good deal. Whenever you've reached the final price, you can then talk about financing and certain incentives. You'll get a good deal if you use this technique.
If possible, get someone to take care of your children when you go car shopping. Taking kids car shopping will just irritate you. You may feel pressured for time and buy a car that isn't ideal.
Steer clear of dealerships that are not visually appealing. Sick as it may be, there are unscrupulous dealers who have no qualms about selling cars and trucks that have no business being driven. If their dealership doesn't have a lot of nice looking vehicles, they probably cannot help you.
You should drive the car you want to buy. This is true even if you've driven another car of the same model. It's important to know how this exact car handles. You might find that there are some small things that are not the same or that there is something wrong.
If you want a new car, contact the bank first to see if you qualify for a loan. Doing so is in your best interest. Though dealership finance departments may be able to secure a lower rate for your car loan, consulting with outside banks is a good way to get a ballpark idea of what you will pay.
Whether you are buying a new or used car, take it on a test drive on the highways and on the streets to see how it handles overall. See how it performs when you drive up a hill, park, back up and execute U-turns. That way, you will learn how the car operates, and you can decide if it is right for you.
Think about leasing the car you have. Used cars are selling at higher prices, meaning that your lease will be less expensive than ever before. Sometimes dealerships offer a no money down lease which sweetens the deal even more.
Make sure you do a test drive before purchasing a vehicle. There are problems that may arise during the test drive that don't come up at other times. Try to test as much about the vehicle as possible so that you do not encounter any surprises after you have signed the contract.
Realize that the first offer that they come up with is most likely not the best offer that you can get out of them. Give them another counteroffer and when they give that one to the manager, you'll know the next offer is the lowest. It is rare for them to haggle beyond this point; they would like to make the sale as quickly as possible.
Make sure you know about the dealer prior to negotiating for a vehicle. If you already know about the trade in policies and financing types they offer, you'll be ahead of the game when it comes to negotiating. You need to know how people who own the car feel about it.
If a used car you desire needs cosmetic work, like minor repairs or painting, get the price of those repairs prior to negotiating an offer on it. Cosmetic repairs might not be required, but they can also cost more than you think and you'll have to go around in the car until you have the money to pay to have them fixed.
Have conversations with those you know about what they might know personally. How do they like the cars they own? Do they have regrets about the decisions they made? Do they know anything about the latest cars to hit the market? Always look for information before going to the dealerships.
Purchasing a new car may be intimidating, but it certainly doesn't have to be. However, as you can see, with just a little bit of research, you can take the experience from dreadful to fun. Apply the tips you've just been given, and enjoy driving your next car.