Buying a car is a big decision, and it's important to make sure you get the best quality vehicle at the lowest price. To do this, there are several steps you should take before you even set foot in a dealership. Researching cars that might interest you, getting pre-approved for financing, and understanding the difference between buying and leasing are all important steps to take before you buy a car. Here are 10 tips and strategies to help you get the best deal when buying a car.To determine what type of car you want, use resources like US News Best Cars, where you can search for anything from “best cars for families” to “best used cars under 10k”.
Another resource is Autotrader, which can be used to search for new and used cars in your area by make, model, price, body style, and more. When you're ready to buy a used car, it's always a good idea to get pre-approved for financing before going to the dealership. Pre-approval allows you to compare any offer from the dealer's financing division to that of your financial institution, so you can leave knowing that you got the best offer no matter which option you choose.When financing a used or new car, enter the APR offered by your lending institution. Next, decide on the term you want; it can be 4 years, 5 years, or some other loan duration.
Be sure to deduct the trade-in value if you have a current vehicle. A better way to do this is a five-year loan for a new car, and with a used car you should finance it only for three years, that is, 36 months. One reason that makes sense is that if your used car breaks down and it's not worth fixing, let's say the transmission goes completely, you're more likely to have repaid the loan by that time.When buying (owning) a vehicle, you fund the total cost of the vehicle regardless of how long you plan to use it or how many miles it covers. If you are planning to finance, verify your credit rating first.
No matter what type of car you want to buy, remember that it may be worth doing your homework and being prepared before going to the dealership.When determining what to look for when buying a used car, remember that average resale value is a key metric. If you buy from a private seller, you should expect to do a little more groundwork, although many of the same strategies apply such as obtaining a vehicle history report, conducting a comprehensive test drive, and getting a thorough inspection.Consumer watchdogs warn that some unscrupulous car dealers of new and used vehicles will claim that the Patriot Act requires them to enforce the credit of all buyers. Autolist is creating a better car shopping experience for everyone by offering the best apps and the largest selection of new and used cars in the United States.If you're looking for a new set of wheels, buying a used one can save you money because someone else has already paid most of the depreciation. Even when buying new cars, opting for models that are no longer manufactured can result in real savings.
So at the dealership start with the price of the vehicle you're buying and don't be afraid to leave or buy without an exchange if you feel that the dealership is lowering the price of your old car.If you are planning to expand your family next year and think you may find yourself looking for a larger car, it may be better off opting to buy rather than lease. Fortunately, there are several things prospective buyers can do to prepare for the car-buying process and get a good deal on a car they love.
