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Car Buying Tips |
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Car Buying Tips
1.What kind of car do you need?
View your needs, not your wants, you’ll see which vehicle is right for you. Ask yourself: What kind of driving do I do and for how long? Is good gas mileage important to me? Manual or automatic? How much room do I need for seating? By letting your needs instead of your wants drive your car buying decision, you will save yourself from having to go car shopping again soon.
2. How much can you afford?
Be realistic about your monthly payment. Whether buying or leasing, your total monthly car payment(s) shouldn’t be more than 20% of your take-home pay. Run the numbers, print them out and have them on hand when you go to the dealership . Knowing what you can afford will help you control the negotiation process with the salespeople.
3. Should you lease or buy?
When leasing, you’ll need a smaller down payment or less, you’ll have lower monthly payments and you can drive a new car every 2-3 years. However, at the end of the lease you must turn the car back in or refinance and there may be additional fees incurred at the end of the lease term. When buying a car, your monthly payments will be higher and a larger down payment is usually required. However, you won’t be penalized for extra mileage and you have control over what you do with your vehicle when the loan expires.
4. Have you considered all vehicles?
With all the different vehicles available today, most shoppers have trouble keeping up with all the makes and models. Which is why it is necessary to do research before going to dealerships. Many websites offer side-by-side comparisons of all makes and models so you can better understand what vehicle is right for you.
5. Consider all the costs of ownership.
This is an often overlooked, yet essential consideration. Before purchasing, you should take into consideration long-term costs such as depreciation, cost of insurance, maintenance and fuel costs.
6. Research all of your options.
By now you’ll have a good idea of a few cars will work for you. To narrow down your list and cover more ground, do your shopping online. In today’s hi-tech world, most dealerships have internet departments which allow you to do almost everything online. You still need to do the test drive and final signing in person, but you can have most questions answered and even haggle over price via the internet.
7. Schedule a test drive.
Once you’ve decided on the make and model, you should schedule your test drive. When making the initial contact with the internet manager, via email or phone, make sure the dealership has the exact car you are looking for, in the right color and trim level. Also, let the salesperson know it’s not your intention to buy but you will buy from them if you choose to buy that particular vehicle and if they can offer you a fair price. Know that negotiations start high with the understanding they will be negotiated down. You can save yourself negotiation time by setting the appointment with the internet manager, who usually offers a lower price from the beginning.
8. How to test drive a car.
Test driving a car seems easy enough. However, most people go a bit easier on the vehicle than they should to truly experience the type of driving conditions you will undergo on a day-to-day basis. Do you drive over mountains? Test drive over steep grades. Do you drive more on the freeway? Test the vehicle’s acceleration and how it drives at freeway speed. Will you have passengers? Then get in the backseat and check leg and head room. Purchasing a vehicle is an important decision you’ll live with for several years, so take the time to see how the vehicle will perform and its comfort level.
9. After the test drive.
Leave the car lot. Let the salesperson know you have other test drives scheduled and you’ll be making your decision afterwards. If the salesperson has a problem with that, you probably won’t want to make a deal with them anyway. Go test drive other types of vehicles at other dealerships and schedule all of them for one time of the day. By having them closely together, you’ll be able to keep each vehicle fresh in your mind. This will allow you to be able to compare and contrast them ultimately leading to a more informed decision.
10. Finally, get ready to buy.
By now you’ve considered all types of vehicles. You’ve figured out what you c can afford. You’ve decided upon leasing or purchasing. You’ve test driven the final contenders after researching all your choices. Now, it’s time to narrow the field to one. After all your hard work, be confident you’ll make the choice right for you. |
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