A Complete Guide for Buying a New Car
Perhaps your current car’s repair bills feel more like a car payment, or maybe you feel ready to purchase your first vehicle. Either way, using a guide when buying new wheels helps you get a great deal and drive away in an automobile you love. Use these tips to save time, money and energy.
Research Your Selections
Decide what type of vehicle fits you and your lifestyle best, such as a hatchback, truck or compact sedan, so you don’t feel overwhelmed at the dealership. Check sites like Kelley Blue Book and Edmunds.com. Take your search a step further by researching the invoice prices for your top picks. That way, you know how much car dealers pay car manufacturers for vehicles. If you prefer a pre-owned automobile, explore its current resale value. You should also get an estimate of your current car’s trade-in value if you want to use it to pay for your new car.
Consider Your Pre-financing Options
Before you consider securing financing at the dealership, check out alternative options. Dealerships often hike their interest rates, so you may have better luck with your current bank or a local credit union. Use trustworthy sites to gather multiple financing quotes to see all your options in one place. While you’re at it, check your current credit score to determine your chances of securing great interest rates. If your credit score isn’t the best, consider putting off buying a new car until you boost your financial health.
Explore Local Car Dealerships
If you don’t need a new vehicle as quickly as possible, take your time checking out dealerships. It may benefit you to walk out of at least one dealership, so you know how low it’s willing to price a vehicle. Consider branching out with out-of-town options, as dealerships base their prices on geographic location.
Hop Online
The modern car-buying experience makes it easy to not only shop for a new vehicle on the internet, but also buy a motor vehicle online. Some service providers even drop the vehicle off at your home. You may prefer this option if you would rather not risk wasting time talking to salespeople or if you live far from a dealership and don’t want to make more trips than necessary.
Another reason to shop for a new car online is that you could find a better deal. Showroom salespeople get a commission based on the vehicle’s final price, so they may spend as much time as they can and use every tactic possible to get you to pay more. Alternatively, online salespersons usually have a fixed salary and receive bonuses based on the number of cars sold.
If you go through with buying a car online, do not skip the test drive to ensure the vehicle performs well. Also, have an auto mechanic check everything under the hood so you don’t drive away in a lemon.
Only Buy What You Can Afford
While looking at your options for different vehicle makes and models, consider your budget so you select a car that fits your financial means. If you haven’t yet finished paying off your current vehicle, consider doing so before buying something new.
Besides the price of the new car, factor in the cost of registration and insurance when determining how much car you can afford. Does the car you desire need a few repairs or maintenance before it’s ready to hit the road? Consider those costs, too.
Don’t Be Afraid To Negotiate
No matter if you purchase a car online or in person, see if you can get the dealership to drop the price. Let the salesperson know you’ve researched how much the car’s worth and the financing terms you qualify for. Don’t hesitate to walk away if you feel you’re being taken advantage of.
A car represents one of the biggest investments you’ll make in your life. For more insights on making the right choice, reach out to us here at Extensively.net.