When car shopping, it’s important that you are getting the best car for your money. It’s hard to do this when dealers are just looking out for their own financial gain. However, with a bit of know-how, you can do it.
When you shop for a car, you need to figure out what you’re looking for first. How much do you have to spend? How many passengers will be in the car? What is the type of gas mileage you’ll need? Do you want a sedan or minivan? Make a list of your wants, and take it with you when you go shopping.
If you can’t afford a car, don’t let the salesperson talk you into buying it. A lot of current sports car owners were smoothly talked into one by a salesman who convinced them that they would look great driving it. Remember that the salesperson’s goal is to earn a good commission, so he or she benefits when you are convinced to purchase a pricier vehicle.
Sticker Price
Paying sticker price is like flushing money down the toilet. It is never smart to pay sticker price on a car. Dealerships inflate prices to give room for negotiations and to give you the impression you are getting a good deal even though they only give you a small discount.
Figure out your budget and then go to see the dealer — in that order. Keep your budget price in mind, and don’t let the salesman sell you a car that costs more than you want to pay. Keep in mind that you will be having to pay off your car, not the dealer.
Talk to your bank beforehand to ensure you are eligible for a loan. This is can boost your security. In some cases, your dealership will help you secure a low interest rate but it is good to know about the interest rates that would be available through your bank.
If the car you own is fairly pricey, do not take that car with you when visiting a car dealership with the intent of making a purchase. This type of car will cause the dealership to ignore any low offers you make, unless of course the car is one you are planning on trading.
Plan to do your car shopping at the month’s end. In many situations, car sales staff need to meet a monthly sales quota. 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.
Going to an automobile show can sometimes help you determine what type of car is right for you. Auto shows are great places to compare different cars to each other. Also, you can speak with people who know their stuff. When you leave an auto show, you will have a better idea of what kind of car to explore further.
Plan your budget before going out and trying to buy a car, regardless of whether it is new or used. This will allow you to know how much of a payment you can afford. Tally the amount you will be able to spend on your monthly car payments. Try to find your loan before finding a car.
Be careful about giving people your social security digits. Dealerships often want this information early on. If that ends up not being the dealership for you, getting credit reports pulled at several dealers may actually harm your financing options. Do not allow anyone to pull your credit until you have hammered out your deal.
Now you know how to get through the negotiation process. This helps you to avoid the most common tactics they are known for. Keep this great advice in mind and get going on your car buying adventure.