Top 10 crucial tips for buying a car for 2016-2017
When buying a car, handling the overbearing and pushy car salesmen is really frustrating. Thus, you should prepare whatever you can to buy the best car possible of you own case. This article will introduce to you 10 out of most crucial tips for buying a car. Check out below!
- Research Carefully
When it comes to tips for buying a car, this might be the most important step you should take. And, one of the most important things to care for is the power. You could totally find out anything you want to know about a car through the internet. The auto sections of Consumer Reports, Auto Trader, and Kelley Blue Book are a good start for your researching. For those who want to buy a new car, check out the “invoice” price of the chosen car, not the MSRP. For used cars, check out the recent resale prices for the chosen car.
- Check The Pre-Financing Options
The majority of people get financing from car dealerships, but the interest rates of dealerships may be higher than the loan rates gained from credit unions and banks. Thus, banks and credit unions are considered one of places to begin researching car loan rates.
- Shop Around
If there is not any emergency situation, you can shop around prior to buying your car. One advice is to work out of no less than one dealership, if you have time. Therefore, you will know their rock-bottom price, which is usually given to you before you leave. Remember that dealerships price their vehicles differently basing on their location.
- Negotiation Terms
Some people said, not mention to buying a house, buying a car is among the most crucial investments you might make in your life. One of tips for buying a car is to negotiate the car loan and reduce the purchase price. You can begin with a ridiculous number and then work backwards. If the salesperson delivers an offer including a monthly payment of a certain amount based on the 60-month loan, then you should tell them you would like to have the same payment with a 48-month loan.
- Consider Both New And Used Cars
Previously, to save money, people often buy a gently used car. Unfortunately, the supply of used cars has reduced drastically over time. Consequently, the prices for used cars have raised a lot, making new cars a much more realistic choice.
- Pay Attention To The Purchase Price, Not The Monthly Payments
The car dealers are very notorious for providing an attractive monthly payment to those potential purchasers. However, you should not be misled. In case that this “wonderful” payment is attached with the 72-month loan, it is not as attractive as it sounds.
Make sure that you acknowledge the full purchase price of the car you buy. There can be many hidden costs inside the price such as car preparation, various taxes, delivery fees,…
- Avoid Mentioning Your Trade-In
Play your own cards close to you in every aspect of the process of buying a car, particularly in regard to your trade-in. Avoid mentioning your trade-in till the end of the process of buying. The reason is that the dealer will use this specific information against you.
During the purchasing process, negotiate two aspects: the price and the trade-in separately. First, you can negotiate the best deal you could get for the automobile you want to purchase, then work on get the most for the trade-in.
- Insurance Costs
Among tips for buying a car, this sounds irrelevant much, but you should pay attention to the factor in those car insurance costs. The cost of insuring a car is a main factor in the general cost of the car. Get the insurance premium cost online through supplying the information about the make and model of the car as well as personal information such as marital status, age, and driving record.
- Avoid Impulse Buying
You should prevent impulse purchasing by doing the extensive research prior to buying the vehicle. Remember that purchasing a car on a whim is considered a risky endeavor. You may realize it afterwards that you could not afford the car. Or, you might find the performance of the vehicle does not meet your expectations.
- Do Not Buy The Add-Ons
Purchasing a new vehicle is a main purchase, and you may pay it off through the next a few years. In case you finance a car, the general cost for accessories will increase dramatically, so you should keep the add-ons to a minimum. Remember that the dealership maintenance plan, a rear camera, VIN etching are more add-ons that buyers do not really need.