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How to Buy a New Car
Car buying is not a task to be taken
lightly. The cost of a new car equals almost what my
parents paid for their first home. It's imperative to
do behind the scenes research to ensure you get a great
deal.
Do not be in a hurry. Car dealers can detect
the scent of desperation a mile away! If you are totally
without transportation, rent a vehicle until you find
the right car. If you rush your purchase, you will usually
end up on the bad end of the deal.
You can uncover the typical retail cost
of a specific make and model right on the internet.
With a little extra research, you can discover the wholesale
cost as well. These two pieces of information give you
an edge when it comes to negotiation.
It's best to work toward a win-win situation
with the car salesperson. They need to make some money
on the deal, and you want to pay a fair price. You can
often negotiate a price that is $500 above dealer cost,
or about 20% off the sticker price. Make sure you take
your calculator with you when car hunting.
You can often order a car with *custom*
option choices. This could save you hundreds of dollars.
You might wait a couple of weeks, but why pay for options
that you do not need?
Always check with the dealership to
see if you can return the car if you do not like it.
Many dealerships now offer this option. Some dealerships
will give you a three day trial period in which to try
the car.
It is a good idea to wait until the
end of the month to go car hunting. Salespersons
who want to meet a certain quota will be eager to strike
a deal.
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. Sometimes this is difficult, as most
salespeople will ask upfront about a trade in.
I took my car to one lot, and was told
the trade in value was $1,200. Another dealership said
they would give me $3,500 for the same car! So do your
research to make sure you receive a fair price on your
used vehicle. Stick to your guns when it comes to getting
the value of your trade-in, especially if you've had
your car serviced regularly.
A service contract will likely be brought
into the negotiation. Most consumer information shows
no need to buy 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 questions
about what certain phrases mean if and when you do not
understand something.
Also, just because a car is brand new
doesn't mean you should buy it without asking questions.
New cars can land in the lemon category as well as used
ones. Keep on your toes during the negotiation process.
You will enjoy both getting a new car, AND creating
a win-win situation for yourself and the dealer.
1howto.com
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