Car Buying Tips
from www.automotive.com
Car Dealers are in Business to Make Money
Remember, car dealers need to eat, too. They have house payments, car payments and utility bills to pay just like you and me. Therefore, car dealers need to make money on a deal, or they're not going to sell you a car. And that's ok. But, in order for the car-buying process to be a win-win proposition, which includes you being happy with the outcome, you must have knowledge about the vehicle you want, and be willing to walk away if the deal isn't right for you.
Do some research to find out what the dealer likely paid for the car, the manufacturer's suggested retail price (MSRP), and the value of all the extras and perks. Then, negotiate in good faith, and take advantage of the dealer's willingness to lower prices due to the time of year, month or inventory.
When to Buy a Car
Some times are better to buy than others. September and October are good months, because new car models arrive, and dealers want to move last year's model. If you're interested in a 'program car' that's a year old with low mileage and warranty left, they generally arrive in the fall when new models are introduced. However, new models are starting to be released year-round, so check to see when the model you're interested in is being replaced. Saturday mornings are good because a dealership is trying to create some momentum going into the weekend. Also, when the end of the month is coming up, car dealers will want to boost sales figures for monthly reports, so good deals may be found then as well.
Make Sure You Need any Dealer Add-Ons You Buy
Scotchgarding your interior could cost you $100 to $500 at a dealership, when you can purchase a can at a grocery store for about $10.
You will also be offered an extended auto warranty. The manufacturer usually provides a warranty with the vehicle, which usually run for 36 months and 36,000 miles. So, be sure you don't buy a warranty you already have. If you think an extended warranty is right for you, discuss it with a Prairieland loan officer. We offer extended warranties, too, that are generally hundreds of dollars less than at the dealership.
Hold Off on Discussing the Car Trade-In
In order to get the best price on a vehicle you are trading, avoid discussing it until the negotiating for your new vehicle is done. The car dealer will inspect your trade-in vehicle meticulously for any necessary repair or replacement. It would help you to know what your trade-in vehicle is worth to avoid agreeing to an offer that is too low. Make sure you have the dealer explain the reason for everything. For example, why it'll cost $250 to replace a door handle.
