Buying a car is not something that the average Joe simply does on a whim. For most of us, it takes a lot of financial planning, research, and preparation.
For those who have purchased a car before, the task may be daunting because you already know what struggles lie ahead. For first-time car buyers, the task can seem akin to climbing Mount Everest. Only the strong will survive.
But if you walk into a dealership armed with the right research, bargaining tools, confidence, and perhaps most importantly, patience, you'll end up with the best deal and the best car for you and your family.
If you take these 10 car buying tips to heart, Mount Everest will start to look more and more like the hill behind your old middle school or wherever you used to go sledding in winters: still steep, but definitely surmountable.
When I'm ready to buy a car, I'm definitely going to come back to these crucial tips for guidance. Will you?
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Thumbnail Source: Wikimedia Commons / Thomas R Machnitzki
1. Weigh New Versus Pre-Owned Carefully
There are pros and cons to every method of acquiring a car. New, used, certified pre-owned, and leased cars are all great in their own way, but you have to figure out which one is right for you.
With used cars, you won't know the entirety of the car's history, and the warranty will likely be shorter. It will, however, likely be cheaper up front. It is possible to find cheaper new models these days, but often a certified pre-owned car is the way to compromise between the two.
2. Avoid Jumping The Gun
Even if you've done all of your research, you aren't going to want to buy from the first dealership or salesperson you come across. Take the time to see who is selling what for which prices.
Often, different locations will charge different prices for the same car. Just make sure that you aren't saying yes to the first shiny vehicle you fall in love with.
3. Calculate A Budget
As much as we all want a shiny new sports car with a racing stripe running across the hood (or is that just me?), in real life, we can't all afford our dream car. Make sure you have a reasonable budget calculated based on your income, and be sure to factor in the cost of insurance, fuel, and even unexpected repairs.
Once you've come up with a reasonable price range, then you can start looking though models.
4. Keep Mum About A Trade-In
If you have a car that you're planning on trading in, don't mention it to the dealer before you negotiate a final price on the car you are buying. Negotiate the two prices separately, or sell your car somewhere else completely.
If you try to bundle the two transactions together, you are almost certainly not going to get the lowest price possible, because the return on your trade-in will be factored into negotiations — to your disfavor.
5. Narrow Down The Options
Like most things in life, narrowing down your options will make things much easier. If you do your research, check manufacturer websites, and pick a few makes and models to search for in your area, you won't feel like you are trying to pick a needle from a haystack.
Plus, this way you're only looking at cars that you have thoroughly researched and that you know are right for you.
6. Consider The Seasons
Much like fashion, cars that are out of season will likely be cheaper than those in high demand. What is an out of season car, though?
Well, people usually aren't thinking about snow in the middle of a heat wave, so that would be a good time to look into buying an SUV. Alternately, no one's thinking of getting a zippy little sports car in the dead of winter, so if that's what you're looking for, bundle up and head to the dealership!
7. Leave Monthly Payments Out Of It
Negotiate the full price, rather than monthly payments. If you're talking in terms of monthly payments, it can get very confusing as to how many months you will be paying that much.
It's much better to figure out how much you will be paying in total first, and then bring up how to spread out the price after it's already set in stone.
8. Take It For A Test Drive
Can you believe that 10 percent of people buying cars do not test-drive before buying?
When you hop in for the test-drive (which you must!), make sure you test everything, including making sure the car runs smoothly and silently when idle, that the kids will be comfortable in the back, that the switches for all functions are in reasonable places, that you can see all the mirrors and gizmos on the dashboard, and that it handles and brakes well.
9. Talk To Your Bank
You'll want to have financing from a bank or credit union before talking about your options with a dealership so that you have rates to compare.
It's entirely possible that the dealer will be the best option for you, but you'll want to know for sure.
10. Ignore The Trends
If you try to purchase a very popular or trendy car, you will have little room to negotiate. Again, this is where research will come in handy.
Most likely, there is another car very close to the "hot" car of the moment, and you'll be able to get it for far less than the trendy choice everyone is buying, as well.
What other car tips did we leave out? Please SHARE with your family and friends on Facebook!
