New Car Buying Tips
New car buying should be fun, and the Web is full of good resources to help you make sure you make the best decision. From the basics of choosing make and model through negotiation and financing, you can learn what you need to know in order to feel confident with your purchase.
Research and Compare
It’s easier than ever to find the information you need online when you’re researching a car buying decision. Since price will probably be the deciding factor, you want to make sure that you get the most for your money. That requires comparison shopping. When you’ve narrowed down your choices to a few certain models, find out what they are selling for at multiple dealerships around you. Sometimes it pays to travel a bit to find the best price.
Besides comparing what different dealers are charging, understanding the difference between dealer invoice and dealer cost can also help you when it comes to negotiating price. It’s also helpful to know when is the best time to buy a car for the best deal you can get.
Bring a Trade-In
One of the simplest ways to save money is by bringing the auto dealers something in return. Although trade-ins tend to vary widely in value, simply having something to bring to the table can offer a significant advantage as you negotiate price. Be sure to determine the trade-in value of your old car before you accept the dealer’s offer. You may be better off selling your car privately or even donating it to get a tax break.
Look at Depreciation and Maintenance
A common new car buying tip that people tend to overlook is what the new car’s trade-in value will be in a couple of years. Is this a make and model that holds its value, or is depreciation going to hurt you? A simple look at Blue Book values and other accepted price authorities may help you anticipate how your car will age and what it will be worth in a few years. It is also important to know if the car you have your heart set on is known for its expensive maintenance costs. These are considerations that can put you in a bad position of owing more than your car is worth.
Price those “Extras”
Sellers tend to offer standard features at significantly jacked up prices, so do yourself a favor and look around the Web for aftermarket rates before you load up that new car. Often when buying a new car, you can install a stereo or better security on your own dime, or buy that extended warranty for less than the dealer is charging.
When it comes to new car buying, if you will take the time to research, you’ll be a savvy shopper who is likely to get a great deal!