Buying A New Car
Simon Harris
The cost of a new car nowadays equals about what my parents
paid for their first home. It's not a purchase to be taken
lightly. You want to do everything possible to ensure you get a
great deal.
Never rush your decision. If you are completely without
transportation, rent a vehicle until you find the right car.
When you rush a purchase, you usually end up on the losing end
of the deal.
Thanks to the Internet, you can uncover the typical retail cost
of a specific make and model. With a little digging, you can
find out the wholesale cost as well. This information makes you
a powerful negotiator.
You want a win-win situation with the car dealership. They need
to make some profit, and you need to feel you paid a fair price.
It's fair to negotiate to a price that's $500 above dealer cost
or about 20% off the sticker price. So take along your
calculator when you shop.
If the only cars on the lot have expensive options you don't
care for, you might want to order a car to your specifications.
You might wait a bit, but will save money on options you don't
need.
Check with the dealership to see if you can return the car if
you don't like it. I did this once. The car I purchased ended
up less comfortable than my old car, so the next morning I took
it back for my check and my trade-in. Many dealerships now offer
this option.
You may have heard the advice to shop the last day of the month
for better deals. It's true that you might get a better deal
from a salesman then.
As far as trade-ins go, do your research here, too. Knowing the
value of your old car makes it easier to negotiate a better
price for it. Try not to talk about a trade-in possibility
until you get a purchase price.
I researched the value of my little red Corolla and found that
it was $3500. One dealership offered me $1200 because "they'd
have to repaint it". Another dealership offered me $3500 and
complimented me on taking such good care of the engine. Stick
to your guns when it comes to getting the value of your
trade-in, especially if you’ve had your car serviced regularly.
You may want to advertise your older car and sell it privately.
Typically you can get a better price this way, but it may take a
little time.
A service contract will likely be brought into the negotiation.
The consumer information I've read discourages buying an extra
contract on a new car, as it's not likely a problem will occur
during the first months of use.
Whatever you do, always read the fine print of any contract
before signing it. Ask a bazillion questions about what certain
phrases mean if you don’t understand something.
Simply because the car just rolled off the factory line doesn’t
mean you should buy it without asking questions. Keep on your
toes during the negotiation process. There’s nothing like the
thrill of getting a new car AND creating a win-win situation
for you and the dealer.
About The Author: This article courtesy of
http://www.car-audio-shopper.com
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