There are several important questions to ask when buying a car. Car dealers love people who walk into their dealerships and have not done their homework, they make for the biggest profit margins. The tips for buying a car listed here will make sure the dealer doesn't get the better of you in the negotiation process.
When leasing or buying a car one of the most important things to remember is that the dealer wants to sell you the car more than you want to buy it(even if this isn't true, and your dying for the car, fake it). There are thousands upon thousands of car dealerships in this country, if you can't get the deal you're looking for head to next next dealer down the line and so on, if you visit enough dealers you will get the deal you're looking for.
An easy way to put yourself in the driver's seat when leasing or buying a car is when negotiations start inform the sales person that they want to sell the car more than you want to buy it, and then inform them that you have made a list of their nearest competitors and will be heading directly to them if you can't work out a deal today.
One of the tips for buying a car that absolutely needs to be followed is to do your homework before you head to the dealer. There are car buying guides you can easily find online that will list the price the dealer paid for the car, any regional incentives they have received, other discounts you would never be informed of from the dealer, and provide a reasonable price range you should pay for the car. Come up with a number and stick to it.
If you are trading a car in and buying a new one then use the same buying guides and online resources to get the fair trade in value for your car. These services are inexpensive and will give you not only a fair price for your new car, but a fair price for your trade in as well.
Many people make the mistake of bundling their new car purchase with their trade in. This is where the dealers can get you. They may give you a good price on the new car they are selling you, but they will lowball you on your trade in which they will make a nice profit selling. Negotiate the price of the new car you are buying from them, and the trade in you are selling them, separately. First negotiate the price of the new car you are buying from them, if you get the price you are looking for then negotiate the price of your trade in. This will ensure you get the best deal and are not getting ripped off on your purchase or trade in.
One of the questions to ask when buying a car is where can you get the best interest rate if you're financing your new car. Do not just take the dealer's offer for financing, many times you can find better deals on your own through a bank or credit union. Dealer's love to sell you on the financing, it's a big money maker for them which is why they advertise financing all the time in their commercials, but it is not always in your best interest to get financing through them.
Go to your local bank and see what rates they are offering, after that visit a credit union, many times they offer extremely competitive rates. There are also websites that specialize in banks competing for your business. You visit these sites and enter your information and how much you are looking to borrow, and several banks will compete to get you the best offer. These sites can really work in your favor to get the best rate. To find these websites that offer this service(which is free to you, banks pay to be on these sites) go to a search engine and enter "banks compete for your auto loan".
Once you have done all your homework and are negotiating with the dealer, be ready to walk out after you have informed the dealer that they want to sell the car more than you want to buy it, and you are heading to their competitor as soon as you leave if a deal can not be struck. If negotiations then fall apart and you can't agree on a price, ask the dealer for a pen and piece of paper, write down your name and number, and then tell them to call you if they change their mind. Many times the sales person will run out to grab you before you get to your car and pull out of their lot. Some dealers like to play hard ball more than others depending on who the sales manager is. Different managers use different tactics to try and sell cars and make the most money for the dealership, the more they make on each sale for the dealership the more they are compensated.
These tips for buying a car and what questions to ask when buying a car involve more of the questions and leg work you need to do on your own before you walk into the dealer as opposed to what to ask the sales person once you arrive there. Sales people at dealers are trained to look for signs that you do not know what you should pay for the car. Do your research, stand firm, and be ready to walk out if you can't strike the deal you are looking for. You may have to visit more than one dealer, but you will eventually get the deal you are looking for.
Car Buying Revealed: How to Buy a Car and Not Get Taken for a Ride
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