Even if you get a good price when buying a new car, the business can be bad if you don’t pay special attention to other areas of the buying process. Here are five fundamental steps to take into account and save money in general. Fortunately, many of these steps can be done from the comfort of the house via Internet, telephone and email.
- Choose the perfect car for you
It is important to identify the car you want, up to the level of finishing and other options. Use the Ratings and tips in this edition to help reduce your options. Each car manufacturer allows you to configure a car on your website and most of them let you search the inventory of their dealers. It is also important that you try to drive any model you are considering buying before the process progresses further. Cars can feel very different when driving constantly and less obvious aspects, such as seat comfort, visibility and dashboard controls, can make a big difference.
- Prepare financing in advance
Once you know how much the car you want on average will cost, you should focus on financing options. Compare prices to get the lowest interest rate. You can have a better idea about current rates.
Request prior approval from your credit institution and obtain it to issue a bank check that you will then complete at the dealership. Obtaining approval in advance dissolves a lot of stress in the buying process. In addition, you can still choose dealer financing if the terms are better.
- Make dealers compete
This is one of the most effective ways to get a good discount on a new car. Communicate or send emails to various dealers within your area, or request a quote through their websites. Tell them which car you want exactly and ask for the lowest price. Also, let them know that you are comparing prices and that you will make the purchase with the dealership that offers you the lowest price. You should contact Premium Auto Brokers for your help in buying a car. They will guide about every step of the process, from testing to selection to final documentation. The team is professional and knowledgeable.
Some dealers may not have the exact vehicle you imagined; therefore, you should review any price that appears to be outside the normal range and resist the attempts they make to attract you to the dealership to negotiate there.
It is better to receive many quotes and you can always use the lowest as an advantage to negotiate with other dealers.
- Get more by redeeming your old car
If you plan to redeem your current car, pay attention before going to the dealership to close the deal. Find out how much your car is worth. To maximize the value of your car, it is worth putting a little effort in improving the exterior appearance. Wash and wax the exterior and clean the interior of the car.
Yes, major repairs should be made. A dealership cannot sell a car with a chipped windshield, so they are going to deduct about $ 300 to repair it, the dealer told us. They will also discount between $ 500 and $ 600 for worn tires. So change them if you can do it for a lower price.
Once you are at the dealership, do your best to finalize the new car transaction before discussing the exchange. Do not allow the seller to carry out transactions, or financing, together in a monthly payment figure. That gives them plenty of time to manipulate the figures for the benefit of the dealership. Also, be prepared to negotiate the value of the exchange if you feel that you are being given a price below the estimate.
- Simply say “no” to dealers’ extras
You should have the price already fixed before going to the dealership to finalize the sale; however, the staff will continue to try to sell you extras to bulk the dealership’s final balance.
These may include: the first coat of paint, paint and factory sealants, and the engraving of the VIN, through which the dealer records the vehicle identification number (VIN) on the windows to help prevent theft. Do not fall in the trap! All modern cars are treated in factories so that they have corrosion protection and a first coat of additional paint can be more harmful than good. You can get a can of factory sealant or paint or wax protectors at an auto parts store or any other retail store at a lower price and you can apply it yourself. In addition, if you want the VIN to be recorded in the windows, you can send it to a separate store or do it yourself for a cheaper price.
Dealers will also try to sell you a service contract or extend the warranty. However, if you have chosen a reliable car, in many cases you will spend more money for the warranty than you would save on repairs.
Review the document very carefully. If you are obtaining financing from a concessionaire, verify that your payments are equal to the sum of the loan, plus interest. Most dealers will include a documentation fee and; Sometimes, a regional advertising rate. We have realized that it is difficult to negotiate to eliminate these rates, but in exchange you can negotiate for an extra set of floor mats or other low-cost accessories. Finally, check the small letters on the back of the contract. Many dealers include a clause that requires you to accept binding arbitration and waive your rights to claim under laws that protect you from a defective car (lemon laws) and against fraud. We have obtained several results when asked to remove this text from the contract.
If you follow these five simple steps, you will soon be driving and enjoying your new car without any regrets of conscience for not having made the best purchase.