| The
first thing that you should know when you want to buy a new car is that
both you
and the dealer are looking to get the better end of the deal.
If
you don’t learn anything else from this book you will learn
how to walk away
from your next car deal with both sides being satisfied.
A
good deal is a win, win situation for both parties. Most of the time it
is the
buyer that leaves unsatisfied and the dealer counting their profits.
In
this day and age a car is no longer a luxury, but a necessity with our
fast paced life and growing families. You will
likely
have to purchase a new car more than once in your life, for you or a
loved one so you might as
well
learn to do it in a way that will make buying the cars less painful.
If
you are looking to buy a car you should begin with these 10 basic car
buying tips.
1.
You should purchase your new car at or around Christmas time because
with
everybody focused on their Christmas presents, there aren't many people
with the time nor the money to worry about looking
to buy a
new car, and it forces dealerships to get creative with their sales
strategies.
Salesmen
and dealerships are more willing to haggle down to your prices to close
the deal when customers are few and far between.
2.
You can also usually score a good deal from July to October because
that is the
time of
year when dealerships are trying to unload most of their inventory to
make
way for
the new models coming in.
3.
Purchasing a car online is becoming a great way to get a new car.
Although some are still sceptical, others are reaping the benefit on
the deals that some dealerships are offering. Just
wait for
good rebates and incentives online and shop around.
Print
out your information from the best quotes, get two or three online
quotes for free and bring it to the dealer
that you
are most willing to work with.
Bringing
in lower quotes from another company might be your best bet in getting
a good
deal. Most dealers will match that price or beat it by a slight
percentage, either way you get what you want.
4.
You should visit various online car purchase sites to find new car
prices,
dealer incentives, and the best rebate offers.
5. It's a
great idea when going into a dealership to bring a copy
of your
personal credit score with you.
A good credit
score can actually lower your interest rates on your car loan. Your car
dealer should
not know
more about you than you do.
6. Keep an
ear out to avoid a common scam that dealerships pull. We often hear
that they will tell customers that the
financing fell through and that you have to respond by paying more
money on your
loan.
Don’t
believe it. This should give you more incentive to bring your own
credit score from a trusted provider.
7.
Another common scam used by dealership salesmen is for them to tell you
that
they
have found you a lower rate, but that they want you to re-sign your
loan papers.
Usually,
that is a downright lie. Once they pull up your financing information,
they have
the upper hand if you don’t know the details about your
credit information. Can you start to see why we encourage you to
understand your personal credit information?
Get Your Equifax Credit Report Now!
It will cost
around $10-$15. It’s better to pay $15 now than thousands
later. You Can also
Get your FREE credit score and more from FreeCreditReport.com.
8.
Don’t bother bringing in a car for trade in if you still owe
money on
it.
The
dealership rarely pays the rest of the loan on time which will result
in you
having to pay a great deal of late fees to the bank.
If
you do decide to bring a car in that you owe money on, get it in
writing from
the dealership that they will pay the balance on the car within 10 days.
9.
Sometimes a dealership may not have all of your options and must order
the car
directly from the dealership.
When this
happens they will often ask you to pay $500-$1000 for a deposit on
the car. They don't like ordering special options if they don't have a
buyer handy.
Try
not to pay more than $500 and be sure to pay with a credit card because
sometimes the dealership will tell you that there was a price increase
on the
vehicle and will want more money.
If
you pay with a credit card you have room to dispute the amount being
taken from
you. If you pay by check, you can just consider the money gone.
10.
You should never buy a car when you are in desperate need for one
because a
dealer will see that and take advantage.
You
should never wait until an old car is dead before searching for a new
one
because you should give yourself time to shop around for one and get
the best
deal possible. Desperation often clouds your judgment and will cost you
more than you were willing to pay on your new car.
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