Saturday, June 22, 2013

The Best Way to Buy Car

The Facts
I'm going to let you know the best ways to buy a car and how to save as much money as possible. I've been in the car business for years now and I've seen all the ins and outs of the car
buying process. If you have bad credit or poor credit scores I've found that no matter what your gonna pay a high interest rate and the chances of you getting grossed on are a lot lower then say someone with good or outstanding credit. Unless you have a ton of money down or high equity trade the dealer will most likely have to drop the price of there vehicle in order for the banks to accept the loan. So now ill get into how to start.

Do Some Research

The first thing you'll want to do is find out what your looking for. Figure out whats in you budget once you set a goal or boundary don't exceed it! If you have an established relationship with your bank or credit union consult them on what your goals are and the payments you'll be looking for. They'll be able to ballpark an interest rate for you and an overall purchase price for 
you to achieve. Now you'll need to figure out the vehicle you'll be wanting. If you go used you may end up with a vehicle that needs repairs but you'll save money. If you go new you'll take the "hit" when you drive off the lot your vehicle wont be worth what you paid but you'll have the piece of mind of the full factory warranty. The decision is yours. I've found that most of the time where I work we put our best prices online so visit the dealer website and assume there's around $2000 mark-up on top of there online price. So whatever you find online do your research. and make sure its within book values.

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The Tricks Of The Trade 


Now that you've done your research and have the perfect vehicle picked it's time visit the dealer. Don't get overwhelmed as you pull into the dealership the salesman will swarm on you immediately. Its there paycheck and it can get aggressive. So once you have a salesman go ahead and enter the dealership with him. There gonna want you inside sitting down to find out your goals there's no need to get offensive at this point if your actually in there to do business. So get to the point let them know what you've found online and what it is your there to accomplish. There's several ways the salesman will try and make money and i'll tell you how. First if your vehicle has been sold they may wanna switch to something comparable. This can be okay as long as you do your research first. So see what they have in mind and then take the time to go online either on your smart phone or leave if you need to. Second if your trading anything in there gonna hold on your trade. It's almost impossible to get blue book retail out of a dealer but at least want to see it somewhere close to good trade value. Really your best bet is to sell the vehicle privately. If your ready to negotiate always know there's gonna be room to drop the price. Don't focus on the payments the salesman is gonna want your attention there instead of his price. When playing the numbers game get your rate upfront and dealers typically show you a higher rate then your true rate to see how you'll react to the payments. The reason why is to secure money on the "back end" to sell you a warranty and make it seem like your paying nothing for the extra protection. Now that you've gone back and forth with negotiations the manager will try and come in to close you at this point a good test to find out if there's anymore wiggle room is to say "well i need to go home and think about it" If they let you leave without offering one last discount then I'd say you got your best deal!

1 comment:

  1. These tips are surely good enough for me to choose a best car with ease. I should choose a car which has a convenient process of purchase and also best suits my personality.
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