If you are going to avail the opportunity of buying a vehicle for you at the end of the year, don’t be so hurry and must follow the tips below to find the best one for you.
First of all get more information about the vehicles you are interested in.
Check multiple sites like Cars.com, Edmunds.com and TrueCar.com for the published sales incentives to make it sure that you are going right way.
By all means, check a publication such as Consumer Reports for quality ratings. Because a particular Ford or Alfa Romeo catches your eye does not mean that it will be a fabulous ownership experience for you.
While you visit a dealership, do not go in with the idea that you’re going to sign a paper while being there and stay strong.
The sales associate is there to make you buy THAT DAY and You are to pick out a new vehicle and to get at the best possible price. Go in with the idea that you are to make this sales associate pursue you.
Leave your name and number after checking out the car. But while leaving let them know you are shopping elsewhere for this car.
Financing a vehicle? take the information about the best rate the dealer is offers you. Start research on a site like www.bankrate.com to see how does it stack up.
Call your bank, credit union, etc. to see what their rates are.
Get the best rate advertised, like zero-percent, or 1.9 percent, is for those with the best credit ratings.
Have a middling or poor rating? you are not going to get that best rate. Once you avail their best rate offer, must shop around.
Never answer the question like: “What is your monthly payment budget.?” Because that’s key information for the sales associate.
If you say $300.00, they will start piecing together a deal that would end up costing you around $300.00 to $320.00 per month, involving a combination of your trade-in, the finance rate & sticker price.
Must let the dealer know that you are considering paying cash and assure the negotiation of the best transaction price. The best finance rate alongside the best trade-in price.
In case the dealer has price after incentives they initially tell you about is $23,500.00, then calculate a 48-month or 60-month loan and see how does it fit your budget.
If it is not affordable for you, think about a lower trim model or for cheaper car. The dealer will start trying to lengthen your loan term, and that’s a bad idea.
Do not go for financing a vehicle for longer than 60 months or five years.
New vehicles depreciate soon as you drive them lot. It is possible that you will end up owing more than the car is worth, and you start pay way too much interest.
Have a fixed budget for a monthly car payment? stick to it with a 48-month or 60-month loan even when you have to trade down or buy a used/pre-owned vehicle.