You should always have a set budget in mind before you set out to purchase a new car. Think about your needs and your budget and the different types of cars you would like to consider. Learn about all the different types of cars and their features to help narrow down the ones that fit into your needs and budget categories. Determine how long you can afford to pay the monthly loan amount and if you have any money available for a down payment. Before you set out to purchase a new car with a loan, find out your credit score and see what area it falls into. Knowing your credit score can help you figure out what your annual percentage rate should be. It can also help you decide if you need to wait on obtaining a car loan because your credit score is a little lower than you would like it to be.
Most of the time the sales price on the car isn't the best price. Be sure to shop around and look for the same car at different locations. Some dealerships and individual car lots are willing to price match or beat their competitor's price. Always do your research online and find out how much people are selling the car for. Pull up the Kelly Blue Book values to find out if the dealer is on the high end or low end of the total value of the car. Find out if the dealer has a refund or return policy. It would be terrible to purchase a car, get it home, only to lose the transmission 3 days later. You should also inquire about an exchange policy when you are buying a new car. Always ask for documentation of an exchange policy or return policy, never take the word of a salesman.
If you are purchasing a used or pre-owned car, ask the dealer for the Buyers Guide. The Buyers Guide is required by the FTC to inform customers about every used car the dealer sells. The Buyers Guide will supply you with all the information you need to know about the car such as the warranty, the mechanical system, the electrical system, and the extended features. Be sure to use a checklist when you are inspecting the car. You should cross-reference the checklist on the internet and have a mechanic inspect the car to ensure it has been properly maintained. If you are buying the car from an individual, ask about the car's history. Questions you should ask include the following:
Bargain Car Links
Save Money with Year End Clearance Sales
Many auto dealers will offer sales at the end of the year to make room for the New Year's models. This web site talks about how you can take advantage of this policy and obtain a new car for a cheap price.
Low Interest Car Loans
This web site provides great tips on how you can save money when you are obtaining an auto loan. You can apply for an auto loan from their web site and compare auto prices from several sources.
How To Buy or Sell a Car and Never Get Ripped Off Again!
This web site provides tips on how to buy and sell a new or used car. It talks about what steps you need to take so you can avoid being ripped off by auto scams and how to save money.
Why are you selling the vehicle?
How long have you had the vehicle?
Are you the original owner?
Have you had any major problems with the vehicle?
Has the vehicle been involved in an auto accident?
When was the last tune-up performed?
Can I take the vehicle to my mechanic for an inspection?
If you are buying a brand new car, the fall season is always the best time to obtain a new car bargain. The auto sales are generally sluggish in the fall and manufacturers are willing to offer large discounts to move the older models off the lot to make room for the New Year's vehicles. The rebates change daily so be sure to ask about the rebate when you go in to buy a new car. Before you go into the dealership, check Edmunds.com and FightingChance.com for the latest incentives that you can use in your negotiations. Many cars have a $3,000 - $6,000 factory to dealer cash incentive. If you don't know about the current rebate, you could lose out on thousands of dollars that will go right to the pocket of the dealership. Many dealers will give up most of their incentive to the consumer, if the consumer asks about it.
Another thing you need to ask about is the "program car". Every dealership has program cars. They are new or fairly new cars that are kept in really good condition. Basically, they are like a company car. The program car is used for test drives by potential customers and generally one of the staff members will keep the car on the weekends. The program cars aren't driven very far so the miles will be low and they will be well maintained. Normally a program car is kept for less than 3 months at a time, so be sure to ask your dealer about it as you can save thousands of dollars on a brand new car that has a few more miles on it.
