A new car always brings new delight to the owner and the people around. The smooth drives, new upholstery, a shining new dashboard, the sparkling scratch-less paint all look and feel amazing. Contrary to what you’ve seen on every car commercial ever, there’s a lot of work to be done before you drive your shiny new vehicle off the lot. In fact, the average shopper spends over three months on the market and spent most off the time on researching and shopping for their new ride.
Because as a car owner, one needs to look at the complete picture while buying a new car. You need to consider things from the budget to life-long maintenance of the car. Although, buying a new car is an exciting experience, whether it’s your first car or an upgrade it can be easy to get caught up in the adventure. But before you rush out there, we’ve got a few tips for you to bear in mind.
Determine Your Own Car Needs
What type of car are you looking for? Is it a sports car? Or perhaps you need a larger car to accommodate a family?
Once you decide what type of car you are looking for, it is time to work out what elements are most essential to you. Make a list of what you really need in a car such as safety, good gas mileage, etc. and focus your search on cars that meet those needs. Your list could contain:
- Reliability
- Known problems
- Overall value
Take your time and don’t rush into a purchase for “AMAZING DEALS OFFERS” or “ONCE IN A LIFETIME OFFER”.
Be sure to check out reviews as well to get a deeper insight into the vehicle.
Check Pricing
Before entering negotiations, understand market pricing and set expectations for how much you are willing to spend. When you’ve determined your own needs, you will be in a better position to judge the budgetary requirement to purchase a vehicle suitable for you. The extensive pricing list you may wanna consider, includes:
- Lifetime road tax payment,
- Mandatory insurance charges
- State registration charges
- Dealer handling charges
However, this does not reflect the true expense of the vehicle. You must also account for additional expenses, including maintenance costs. Obviously, pricier high-end cars have higher upkeep costs. Therefore, it is crucial that you choose according to your spending power.
Get A Loan
Once you’ve figured out the actual expenses and your own budget it’s time to think about how to finance your next vehicle. Take a look at auto loan rates at your local credit union or bank and compare it to other options. Getting pre approved also reveals any problems with your credit. So before you start car shopping, you might want to build up your credit score or get erroneous information off your credit report.
If you’ve already approved for a loan before visiting a dealership, it can save you time at the car dealership and also give you an advantage when negotiating the final sale price of the car you choose.
Arrange Your Paperwork
Arrive at the dealership prepared with your driver’s license, payment method and proof of insurance. If you are financing through the dealership, you’ll also need proof of income and employment.
Visit The Dealership
One best advice before you visit a dealership is : “KEEP IT SIMPLE”. At a dealership, focus on one thing at a time. And don’t tell the salespeople too much. Remember it is a game, where you can’t share your strategies with your opponent. The things that might help you to get your dream car are:
- Examine the specifics
- Map out a test course
- Get a Test Drive
- Compare the car on the lot to your checklist
- Don’t be emotional
Negotiate
Once you have chosen your dream vehicle, you’ll need to be prepared to ask questions and negotiate to get a good deal. Negotiation is one of the most atrocious aspects of car buying. Negotiate like a pro, never show your weaknesses to your dealer. Don’t rush your negotiation, and always be prepared to walk out if you’re not satisfied with an offer. Things you can look out for in a negotiation are:
- Always check for more deals
- Remember your budget and stick to your ground
- Remember Information is power
- Read the fine print
Buying a car is an important and long term commitment. Ask all the questions necessary for your comfort before signing the bottom line. Don’t give in your own Checklist. Studying the market of your new car can be very helpful too. After all, this is one of the first big purchases for many of us and with such a wide range of vehicles on offer, you want to make sure you get it right. Therefore, it is important to be aware of the new models as well as the old history of your car.
