Easy tips and tricks for car shopping. Buying a brand new car can be quite a hassle if you don’t know what you’re doing. You may be tempted to buy the first car you like, but this is a mistake! Read through this article and learn some useful information for anyone in the market for a new vehicle.
Go into the dealership with a bottom line price in mind. The salesman might try to focus on the monthly payments or financing terms, but your goal should be to get the price you want on the car you want. You can always negotiate the financing terms later, or even finance with your own bank outside of the dealership.
Read Every Line
Before signing any contract take the time to read every line, including the fine print. If there is anything listed that you do not understand, do not sign until you get an answer that you understand. Unsavory salesmen can use a contract to insert many fees that were not discussed.
Consider selling your car privately, rather than trading it in for the new car you want. You will almost always get more for your car through a private sale than you would through a trade-in. Even if the dealership makes it sound like they are giving you a great trade-in value, they will likely raise the price somewhere else to make up for the difference.
Due diligence should be exercised when planning your car shopping budget. It is imperative that you take a full and realistic look at your budget. Not only must you consider a car payment, but you must also consider insurance, gas, and maintenance for the vehicle. There is nothing worse than having a vehicle that you cannot afford to drive.
Before Deal is Finalized
Never turn over your trade-in keys to the salesperson before the deal is finalized. Some pushy salespeople will hang onto them in an effort to pressure you into hearing them out, even after you have turned down a deal. Keep the keys in your possession and only hand them over when the deal is done.
Never Purchase a Car The Same Day You Find
When car Shopping Never purchase a car the same day that you find it. A rule of thumb is to sleep on the decision. That way you have time to think about the pros and cons of the car and how much you think the car is for you. Do not worry that the car will be sold in the meantime as there are many more out there.
Keep Social Security Number
Do not give out your SS number haphazardly. Many dealers will ask for your social security number before negotiations even start. They will use this information to pull a credit report. If you don’t want to buy there, having multiple dealers do a credit check can harm your chance to get the best deal. Wait until you know you have a deal ironed out before you offer your Social Security number.
Do Your Homework
Take your time when car shopping and do your homework. Do not be afraid to get up and walk away from a deal. Don’t fall in love with a specific car. If the numbers the dealer is giving you are not what you want, just walk away.
Get a Loan
Get a loan from your bank instead of the car dealer. A car dealership makes a lot of their income selling loans, and because of this, the loans are almost always more costly in the long run. To ensure that you pay as little as you can you should get a loan approved by a bank before you even begin looking for a vehicle.
Read Final Contract
When in the finance office, read your final contract thoroughly. Many dealerships will try to rush you through this step, and they may change important information or financing terms as a result. Make sure the terms are exactly what you agreed to. If they are not, ask them to make changes before you sign anything.
As was stated at the beginning of this car shopping article, buying a new car can be quite a hassle if you don’t know what you are doing. Use the tips mentioned in the article above so that you end up with a car you can be proud of. Just make sure you take your time and you are sure to have a successful experience.