Does it seem like car salesmen have gotten the better of you? Is it because of the pushy salespeople? Because of this, don’t look at the dealer as a friend. Keep reading this article to find out more.
Be sure that you know what type of car you’re looking for and some specifics, such as price, before you leave to go car shopping. How much do you have to spend? How large is your family? What is your desirable gas mileage on a car? Do you want a car with two or four doors? Make a list of what you want, and bring it along to keep your memory refreshed.
Establish a budget before you go car shopping so you have a great idea of what is in your price range. Try your best to stay within your budget. If you must go over, the amount that you go over should not be so significant that it puts you in a financial bind.
Know your limits.
Before you start shopping for your next car or truck, decide how much you can afford to pay, and stick to it. Don’t forget to include interest in your calculations. You can expect to pay around 20 percent as a down payment as well, so be prepared.
You should drive the car you want to buy. You have to do it even if you drove that kind of car before, you might not like this particular one. There may just be something going wrong with it that you didn’t know about until you took it for a test drive first.
Research the value of your trade-in.
Not only do you need to research the best price for the new car you would like to purchase, but you also need to know how much your trade-in is worth. Do your homework and find out the retail and wholesale values of your trade-in. Aim to get the retail value from the dealer.
If you aren’t concerned about getting the absolutely latest model, consider car shopping in November or December. During this time frame, dealerships will offer deals on the current models. They want to clear out their inventory to make way for shipments of the next year’s models. This means that you will be offered more incentives, lower sticker prices, and more room to negotiate!
Be cautious about giving out your social security number. Often dealers will ask for that early on and run a quick credit check. If that ends up not being the dealership for you, getting credit reports pulled at several dealers may actually harm your financing options. Make sure the deal is ready before you start spouting out your Social.
Understand the financing office.
Most dealerships make the bulk of their money in the financing office. Your interest rate, extended warranties and other add ons are all sold at a premium once you are in there. Understand this, and select any of those options carefully. Most are not necessary for the average car owner.
If you are looking to purchase a used car, it is of the utmost importance that you get a copy of the vehicle maintenance and repair history. This will allow you to see what has been done to the car, and if it has been in any serious accidents.
When purchasing a certified pre-owned vehicle that comes with a warranty, make sure you read the fine print. Most warranties on these vehicles only cover power-train and don’t cover much else. There are also cases in which the warranty may not be transferable which would make it void in your case.
Stand firm on your down payment.
Cars can be sold with no down payment; however, some money down will help the final cost. Be wary of sellers who ask you to increase your down payment. This extra money will typically only go into the pocket of the salesperson and dealership, and does not help your bottom line.
Do not just settle for any deal given to you. The offer ideal to them is never going to be your ideal situation. It’s necessary to do some negotiation to get the best price. You must use these tips to go car shopping properly.