Shopping for a new car can be very time consuming. There are many cars and items to look at. The right information helps make the decision process go much more smoothly. Use this handpicked selection of car-buying tips and tricks to help you along the way.
Monthly Price
When you haggle, do not focus on the monthly payments, but on the total purchase price at the end of the terms. A dealer can make any desired monthly price possible, but you’ll end up paying that monthly price for years and years, making the final cost of the car outrageous. You should instead focus on negotiating the best deal on the overall price of the car and the financing you get. Then you can determine what the monthly payment will be.
Do not go car shopping alone. Your friend can listen for things you might have missed and they can give you advice if they think you shouldn’t buy the car you are looking at. They can be anyone from your Mom to a coworker.
Avoid shopping for a car by yourself if you feel like a pushover. A friend can provide relief and reduce the amount of stress that you face. Brief your companion on your vehicle needs and how much you have available to spend.
Call your bank about financing ahead of your purchase. Doing this helps ensure your security. Your dealer may be able to locate a better interest rate than your financial institution can, but you should know that ahead of time.
Don’t drive an expensive car to the dealership. The sales staff will see that car and decline your rock bottom offers, unless the car is one you plan to use as a trade-in.
Most salesmen will have monthly goals or quotas to make. Keep this in mind, and try to head out at the end of each month. The sales staff will want to sell you a car to meet their goals. This gives you a bit more leverage in your bargaining.
Rent a car in order to test it out. If you really want to know how a car handles, rent it from a rental car agency and test drive it for a while. Use the car to take your family on a road trip so you can determine if that particular model will be a good fit for your family. You can get more acquainted with your vehicle of choice before purchasing.
Plan on going car shopping during the last week of the month. Most salesmen have a certain quota they would like to reach for each month. The sales staff may be behind and need your sale to meet their goals.
Auto Shows
Consider checking out local auto shows to find out what’s available. Auto shows are a unique opportunity to compare many different makes side-by-side under one roof. Also, you can speak with people who know their stuff. After visiting an auto show, you are likely to have a narrowed list of vehicles that interest you.
Before you even step foot into a car dealership, you need to have a solid number in mind. Calculate this number based on what you can afford, as well as current car values.
Research through the web and magazines for information when buying a car used. You can even learn online about a car’s value. Kelly Blue Book as well as NADA or reputable sources for finding car values. If you car dealer has a car that is not worth what he is charging, turn around.
Fuel economy should be considered prior to getting a car. Highly efficient models may be more expensive initially, but they may provide big long-term savings at the gas pump. Think about long term costs prior to picking out your car.
Zip Code
Check out car prices online, both in your city and in nearby cities. You might get a better deal if you buy from a neighboring city, since prices vary from zip code to zip code. A little bit of research online may end up saving you money.
If your salesman consults with the manager and then they come back, they can go lower. Give them another counteroffer and when they give that one to the manager, you’ll know the next offer is the lowest. They want the deal to be done quickly, so they should be at their lowest price at that point.
Be sure that you find out information about all rebates before you go. A lot of dealers will offer the rebate to you as an incentive for getting you to buy the car. Some dealerships don’t even tell you about the rebate, keeping the cash for themselves.
It can be a good thing to buy a car near the last week of the month. All dealerships need to meet quotas. They will be more desperate to sell towards the end of the month. Sometimes, this can be used to get a car at a better price since they really need to make sales.
Research the “hidden” costs of the car. Some cars have much higher insurance rates or really poor fuel rates. See how much gas you are likely to use on a regular basis, whether you need special types of oil, and research the cost of routine part replacements. Any or all of the hidden details can have a significant impact on the true cost of vehicle ownership.
Never rush into anything when it comes to purchasing a car. Dealers are going to always try and create a false sense of urgency that may pressure you to buy sooner rather than later. Don’t become a victim of this. Most of the time “special promotions” will continue to be there until you’re ready to make a purchase.
Car shopping with knowledge will set you apart from your peers. Use the tips here to ensure that you will be content with your purchase when you leave the dealership. It will make car buying more enjoyable.