Tips for buying a new car
First of all, find out how much car you can afford. If you are going to borrow, go to your bank and get pre-APPROVED for a loan. Then you will know how much you have to work with and how much your monthly payment will be.
Try not to go to a traditional car dealer, but rather a no negotiation dealership if you can find one. Often you will pay less, and more importantly, you won’t have to deal with leisure suit Larry who is going to waste your time and try to pressure you into things you don’t want. Look at cars on Sunday when most dealerships are closed, or simply tell the dealer you are just looking, so you won’t have the pressure from a dealer hovering over you.
Insist on a test drive overnight at least. Any reputable dealer is going to let you take the car to try it out before you buy. Having the car in your driveway overnight will tell you a lot about how your neighbors will react (very important) and more importantly, how you will feel about the car yourself. Love often turns to remorse once you realize you shelled out $50,000 and the neighbors haven’t come over and complimented you on your new ride and it doesn’t look as good as it did in the showroom. Alternatively, rent the same model car for several days, again to see if you can really live with it.
Research, research, research. Use internet sources like Edmunds or Kelly Blue Book to sus out the true dealer cost of a new vehicle and then you will know if you are truly getting a good deal or not. Use Consumer Reports or J.D. Powers to research reliability ratings and cost of ownership long-term. Also, check out insurance premiums, as they car vary wildly from car to car.
When you have the car or cars in mind you want, go online for an instant price quote. Again, you don’t have to buy, but you will have more ammunition to work with. Use the online quote to talk a dealer down off his price. See if he will match it, if not, buy online. Check with at least three dealers for the same car as well. Again, play them against each other for the best price.
When you go to a dealer, take someone (knowledgeable) with you. The dealer will have a team working against you, you need your team for moral support. But don't talk "privately" with your friend at the dealership. The walls have ears. Have in mind what you are wanting to pay and everything ready before you go, but only talk negatively to the salesman about the deal. If you get too excited about the car, the salesman will get big dollar signs in his eyes, you can see them.
And ladies, please, take a man with you, even if you have to hire him to negotiate with you. Trust me, dealers take advantage of females!
When you sign ANY paperwork, double and triple check that the purchase agreement is the same you negotiated before. If not , don’t sign a thing. Be prepared to walk away. This is the most important piece of advice I have ever been given. Don’t fall in love with something that can’t love you back. There are thousands of dealers selling the same thing. Don’t get stuck on one car unless it makes financial and logical sense.