It is an essential requirement that you have access to the right information about the vehicles you are interested in, for example, your budget, the value of your trade-in if applicable. With this information, you can start to negotiate appropriately.
1. Consider Financing
Before visiting a dealership, first consider what deposit you can put down and the monthly premium you’ll be able to afford. Also, find financing which permits you to choose terms and rates that suit your pocket.
2. Know Your Credit Score
It can be helpful since having an idea of your credit score and credit report can help you when you are negotiating the interest rates and a good deal.
3. Shop Around
Avoid going in unprepared and instead research the available cars from the dealership before the time. Remember to also shop for car insurance quotes to include in your new car budget. There are online services that can help you identify the best rates among top providers.
4. Compare Quotes
It’s always advantageous to obtain detailed pricing upfront. Price the car at various dealerships and utilize online tools and sites such as Invoice Pricing to find the invoice price as well. This can help to ensure that you are not overpaying for a new car. Online tools like Kelly Blue Book or Truecar are valuable tools that can save you time and provide you with pricing and helpful information relating to your car search, particularly details such as the make, model and the year of the car. Also, search for rebate offers on dealer sites.
5. Research The Trade-In Car’s Value
If you possess a trade-in, don’t wait for a salesperson to tell you what it is worth. You can visit Kelley blue book to get an estimate beforehand. You can also opt for their Cash offer feature. This means dealers will pay you a guaranteed price for your trade, avoiding the complicated process of haggling when you get to the dealership.
6. Test Drive The Potential Purchases
It is always advisable to inspect the cars and take them for a test drive to making sure it is in excellent running order, and there are no evident rattles, shimmies or squeaks that could be an annoyance after you’ve bought the car.
7. Ask About The Car Histories
Always make sure you are liaising with a reputable dealer, mainly used car dealers. Ask about the car’s history, and you can also check the title.
8. Look At Repair Records
Apart from checking the particular car’s repair history, you can also look up the repair record of the model and make. It’s good to check the reliability ratings to establish whether the type of car you want to buy is a reliable one.
9. Ask For An Inspection
You can ask the seller that you require an inspection on the car to make sure there aren’t any underlying issues with the car. It can be worth paying for the service now, rather than forking out thousands of dollars for repairs later. This way, you can be ascertained that the seller is not hiding any problems that the car has.
10. Be Aware Of Your Rights
For any used or new car, make sure you are familiar with the return policy and warranty package. Shopping for a new car can be disheartening at times, but with the right preparation and research, you won’t be stuck with any regrets.
