Searching and buying a good car is not an easy task as you may think. In fact, there are many decisions to make and factors to take into account when choosing a car. So, whether you’re buying new or used car from a private seller or a car dealership, knowing what you want ahead will help you make the right choice when buying a car. Lastly, below are some of the tips you will need to follow when choosing your dream car.
TIP-1: Making Research on How to Buy a Car:
-Create a list of what you’re looking for in a car: doing research is a good idea especially when purchasing something as valuable as a car. This will help you know what you want to get out of the car. So make a list of some of things you want in car and these may include: Age, Appearance, Performance, Safety, Reliability, Size, Comfort, Fuel-efficiency, Cost, Resale-value, Transmission-type, Engine size, Miles/kilometers per gallon, Current-mileage (if car is used), Color, etc.
-Take not of the advantages & disadvantages of buying a new car: Buying a new car can be but it can be expensive on your side if you’re not careful. So, you need to carefully weigh the advantages and disadvantages of buying a car based on your situation.
-Decide on your budget: You need to give yourself a budget regardless of what kind of car you want to get and how much you’re willing to spend on it. A budget will keep you from overspending and let you know when to walk away from a bad deal.
-Search for car-models that fit your needs & budget: If you already know what you need from car and also have a specific budget set, then you should start looking for car. So, look at dealerships, car-websites, classified postings, etc.
TIP-2: Consider Shopping Around:
-Go to dealership-shop with no intention of buying a car: Try going to dealership and checkout different cars. If any salespeople do approach you, say you have no intention of buying and you are just doing market research.
-Figure out what the dealership pay for the car(s) you’re looking at: This is known as “invoice price” it’s relatively easy to get over the internet. In fact, knowing the invoice price help you haggle starting low and going up. However, the invoice price doesn’t mean much unless it actually matches the features of the car you’re trying to buy.
-Get online price quotes to use as bargaining points: Go to different online-websites and shop for quotes that you can use as bargaining points when you actually decide to negotiate in person. In fact, many dealerships also have an online branch that will get you a quote in a couple days, so use these online platforms.
-Put your finances in order before going to a dealership-shop: It’s important to have your financial game plan laid out before you go to any dealership if you really want to get the best possible bargain. So, you should know your credit score if you intend to finance a car purchase or you can consider going for a loan from a bank or credit agency to acquire a car.
TIP-3: Finally Decide on Your Dream Car:
-Be ready to walk away at any point in time: A smart buyer should be willing to walk away at any point in the negotiation process. in fact, a smart dealer may try draw out the process to make you feel like you’ve invested a good amount of time in a car and walking away is the same thing as abandoning that investment, but don’t fall for this trap.
-Forget about leasing if you plan on keep the car for a good while: Car dealerships know that they can make money off people who decide to lease a car. So, if you plan on keeping the car for less than three years, it’s okay to lease. But in case you want to hold onto your car for a long time, then leasing won’t be a great option, just consider buying the car.
-Go for a test drive: If you do decide to take a car on a test drive, keep your emotions in check. Car-dealers actually know that people get emotionally attached to cars when they take a test drive. So, consider asking the salesperson for silence when test-driving, bring someone else along the drive and take your time.
-Walk away if a salesperson brings out a 4-square worksheet: A 4-square worksheet is a clever mechanism the dealerships use to massage the numbers to get you to agree on an inflated price. In fact, it’s a 3-card Monte trick the dealers use, so don’t get scammed.
-Negotiate on the final price: Dealers will try to “sweeten the deal” by adding on services onto the price that you initially agreed on making you feel guilty about not accepting. But don’t get fooled by this, just tell them that your only prepared to negotiate on the final out-the-door price.
-Know the salesperson tricks: Knowing tricks of their trade will help you be prepared when you sit down to negotiate. So, don’t fall for the guilt trick, know that salespeople will start negotiating with an achingly & ridiculously high number and you should also know the commission structure of the sales person.
-Inquire from different dealerships before making the final pay: Locate several dealerships in the area that have that same make and model of car you want, then phone each one of the dealerships up and tell them that you’re planning on buying such and such a car from the dealer that gives you the best price.
-Take a used car to a mechanic: before buying any used car, take it to a qualified mechanic for a complete pre-purchase inspection. So, ask the seller to take the car to a trusted mechanic to check for performance, accident history, or even water damage. This will help you buy a used-car with peace of mind.
-Run a Vehicle-History-Report on the car: You will need to check if the car was reported stolen, scrapped or ever recalled before you buy it. In fact, you get a full history report at CARFAX.com & if you live in the UK, go to autotrader.co.uk to get a vehicle check report.
-Read the final print carefully before you sign: Make sure you understand any contract you’re reading and don’t be afraid to ask questions. Don’t be gullible and trust that the salespeople necessarily.