3 Tricks to Help Save You Time When Buying a New Car
Having a car is essential for daily living. Without a vehicle, it would be hard to make the trek to the grocery store or your job. Buying an automobile is a significant investment, and it’s a choice that shouldn’t be made hastily. You want to get the best bang for your buck since it’s going to be a long-term commitment.
If you lease your car and rotate vehicles frequently, you may know more about the market than someone who buys a car every five to ten years. However, before you head to the dealership and make that purchase, you need to do a few things to ensure you get the best bang for your buck. By following three simple tips and tricks, you will ensure that you save money when you buy your next automobile.
1. Shop Online Before You Head to The Lot
Educating yourself about what you want, need, and can afford is valuable. It’s hard to take advantage of someone who already knows the market and knows the vehicle’s worth. Each car carries a certain amount of value, according to NADA and Kelly’s Blue Book. Unfortunately, vehicles don’t appreciate unless they are classics. The minute you drive it off the lot, it will depreciate. You must be very wise and ensure you don’t overpay for the car. No one wants a loan that is upside down from the start.
It’s foolish to walk into the dealership and walk away with the first thing you see. You must know where to go to get the best deal. The car lots in your area have a reputation based on customer reviews. See which lots are known for working with their customers and stay away from dealers that are less than eager to negotiate. You know, the ones that say their bottom dollar is already on the window sticker.
The internet has made it easy to shop for the automobile you need. Also, you should know your credit score and what type of interest rate you are qualified to receive. You can be financed at a rate anywhere from 2.9 percent up into the teens, and these numbers can impact your payment. Gather all the information you can before you go to a car lot.
2. Timing Is Everything
When the holidays roll around, like the Fourth of July, Memorial and Labor Day, car lots around the country will do everything they can to sell you an automobile. They will use balloons and other gimmicks to get your attention. You must wonder if those sales are real or inflated sticker prices to make you think you’re getting a good deal.
No matter what time of year you choose to shop, the real savings come when you learn the art of negotiation. You may get a good deal on Black Friday on specific vehicles, but the one you want may not be included. It’s about finding the right car at the right time. You must push through all the hoopla, free food, and gimmicks to find a real deal.
3. Research the Incentives and Rebates Available
Don’t let the sales professional be the first one to tell you about incentives and rebates. You must research those deals for yourself from an industry source. These specials can be very specific, and you need to make sure you qualify. For instance, one rebate may only be available to college students or a veteran, whereas others are available to the entire public.
Sometimes, they offer things like an iPad, so you need to make sure you know what you can get when you are looking at a specific car. It may be financially wise to look at a comparable vehicle if it comes at a better price.
Dealerships also offer incentives, and adding the dealer incentives with the manufacturers’ rebates can be a significant savings on your purchase.
Making A Deal
Once you’ve done your homework, found the car you want, set your budget, and know the payment range you need, then you can make a purchase. Don’t let a sales professional push you into something that you cannot afford or that doesn’t fit your family. If you do most of the legwork before you go to the dealer, then the entire process is a breeze.