Buying a car is an exciting process, but it can also be overwhelming. To make sure you get the best deal, it's important to do your research and be prepared. Here are 10 tips to help you get the car, and the deal, that best suits you. 1.Get Pre-Approved for a Loan Before Setting Foot on a Dealership Lot.
This will give you an idea of how much you can afford and help you negotiate better terms. 2.Keep it simple at the dealership. Don't buy any add-ons in the heat of the moment. 3.A better way to do this, Reed says, is a five-year loan for a new car, and with a used car, you should finance it for only three years, that's 36 months.
4.A good rule of thumb is to spend no more than 20 percent of your monthly household income on a new car. This figure should include your monthly car loan payments and all other expenses, such as fuel, car insurance, maintenance, repairs, and registration fees. 5.Start researching the vehicles that have caught your eye by visiting car manufacturers' websites and independent automotive information sites to evaluate features that are important to you. Consider MSRPs (Manufacturer's Suggested Retail Prices) and Invoice Prices.
6.Many car manufacturers offer discounts to students, members of the military, and even members of certain credit unions. These discounts can be cumulated and combined with any model cash back, which must be deducted after negotiating the price. 7.Check if other dealers offer better deals for your vehicle and look for a price match with your seller. If you want to change your current car, save that conversation for after negotiating the sale price of your new car.
Having those conversations separately will help you get a better deal on your current car, and you'll do even better if you've researched the value of your current car online.8.Before You Go Dealership Shopping Protect Yourself From Recalled Cars Used Car Consumer Bill of Rights Education Campaign.9.Reduced inventories also mean few opportunities for driving tests. Since buying a car without driving it first isn't something Shattuck recommends, she had to be creative.10.Your insurance rates often change when you buy a new vehicle. Before choosing a model, the nonprofit Information Institute recommends that you ask your insurance representative how much it will cost to insure.Buying a car is a big investment; however, with the right research and preparation, you can get the vehicle of your dreams at a price that won't ruin you.
