It's that time of year where many of us are looking at new cars. But the worst feeling in the world is buying a car and then seeing it somewhere else for less. That's why it's important to do your research in advance. Sites like Consumer Reports offer excellent information on researching your next car.
Loan Interest Rate
Borrowing money for that next car can be expensive. In fact, a couple of percentage points can add up to thousands of dollars over the life of your loan. Make sure that you scrutinize the financing terms very carefully.
Trade-in Your Old Car?
Never reveal that you want to trade in your car until the deal is done. You might even look for another dealership to sell the car to instead of trading it. CarMax offers this service. They will buy your car without having to purchase one from them. Remember that the Kelly Blue Book and the National Automobile Dealers Association are good resources for trade-in value. Never let the trade-in factor into the price of your car. This is a good way to lose big.
Budget for Your Car
Make sure that you have carefully worked out the numbers on what you can actually afford to spend on that car. Otherwise it is too easy to get caught up in the heat of negotiation tactics!
Get Car Quotes
Make sure that you always get at least two quotes for the car. This will give you the leverage needed when it comes down to making your final decision. You should consider calling the dealership and letting them know about your best price before going there. Much of the initial negotiation can be done by email.
(Remember 'let your fingers do the walking'? Well, now you can use the computer keyboard).
Before entering the car dealership you should be clear about:
• The car price you want to pay
• The car options you want
• Have at least one other quote
Final Car Buying Tips
You've done the research. You are clear about what car you want and the most you are willing to pay for it. You are even prepared to go toe-to-toe with the smooth talking sales guy/gal. Keep these final points in mind:
• Don't focus on the monthly payment
• Keep away from extras that will cost you dearly long term
• Forget about the extended warranty
• Finish the paperwork THEN drive the car
Car Buyer Flinch
Learn the Car Buyer Flinch. Remember that cars have tremendous profit in them for the dealership (and the sales guy/gal). Whenever they approach you with the initial price respond with something like "Ouch! That sounds like too much!" They will always counter with a better offer. Don't settle for the first offer. Remember, you want to have that offer to use for shopping other dealers. Never buy at the first dealership! (You will thank me later).
Get Your Next Car For Free!
Odds are your next car is going to cost you between $300 to $500 dollars a month. (That's if you get a good deal by using these tips). If you want to use a method I recently discovered to get that new car money for FREE go to the link below. There is a short podcast there that will teach you how to actually make money online. The approach they outline will not cost one red penny! And (I promise) it's not the usual "get rich junk" that you may have heard in the past:
Thanks for reading. Good luck on your next car purchase!
Bard T. Williams