Car salesmen are infamous for their pushy and assertive nature. Most of them simply won’t take ‘no’ for an answer; some won’t even rest until they see you leaving their car lot — waving your hands (and your money) goodbye — with a purchased vehicle. Therefore, if you want to get a good deal out of your new purchase, you need to come well-prepared.
Here are a few important tips to help you do just that.
Consider Your Spending Power
There are a lot of things to consider before you take a trip to the car lot. For instance, the price will vary greatly on your decision whether to purchase a second-hand vehicle or a brand-spanking-new one. That is why you need to take a closer look at your own finances first; ultimately, this will play the biggest role in your car-purchasing endeavor. How much cash do you have on-hand? Can you afford to buy a car that smells factory fresh? If not, what are your loan options? Conduct some research on all the available auto loans and their rates to determine whether they fit your budget or not. Once you’ve done some extensive research and gained a firm grasp of the matter, you can weigh your options carefully and pick the one with the most value to you.
Find Out Your Creditworthiness
One way to get bigger (and better) loan amounts are to actively work on increasing your own creditworthiness; especially so if you have a troubled credit history. To make improvements, you must first do a credit survey; a word of caution — you may leave an imprint on your credit history with some surveys. Hence, you need to be extra careful when checking your credit score and pick the ones that have no impact on your credit rating whatsoever; you don’t want to damage your chances of getting a loan even further. Now, since you know exactly where you stand, you can think of ways to increase your budget or up your credit ratings. For example: getting rid of superfluous credit cards, making timely payments, selling your old car, etc.
You’d be surprised at how many different price ranges you can find on the Internet for the same car model and year. Check the various car comparison websites as well as local second-hand deals to get the bigger picture; sometimes you can get a lot more value out of a Fredericton Used Cars with incredibly low mileage than a brand-new one. Be careful with these ones, though, as they may not come with a full warranty or guarantee. Nevertheless, when conducting research, your main goal should always be to arm yourself with enough knowledge — and to gain a better understanding of how the pricing structure works — before you have a chat with the car salesman. If you’re still unsure of some things even after you’ve completed your research, consider asking a mechanic for advice.
Be Prepared to Negotiate
Now we come to the wheeling and dealing part of this guide. If you’ve successfully completed the previous step, you should be at a significant advantage here. The main tool in every car salesman’s arsenal is their outstanding knowledge of price tags (and car values); a thing you should be more familiar by now. Usually, the sticker price is nothing more than a threshold. However, if you’re completely ignorant, you won’t know the real value of the model in question which can lead to unnecessary overspending (depending on the competency of the salesman). On the other hand, if you do know the actual value, you’ll be able to discern whether or not they’re being completely honest with your or whether they’re just spinning the truth (a little). In addition, dealer incentives can sometimes range for a few thousand dollars even, leaving plenty of space for both of you to get something good out of the whole ordeal. Remember, the initial price tag is often not set in stone; be prepared to haggle!
Take It Out For a Spin
Finally, you should always take a car out for a test drive first; it’s not only prudent but fun as well. The last thing you want to find out is that the car is somehow damaged only after you buy it. This is especially true with used cars — you don’t want to buy something that will cost more to maintain than to purchase it initially. So, make a thorough check of all systems, look through every nook and cranny, and (hopefully) enjoy the ensuing smooth ride.
With these tips, you’ll have all the insight you need to strike a favorable deal with the sales representative. Know the car values and you’re all set. As the age-old aphorism states — knowledge is power!