Many people are hesitant about shopping for a new car. Buying a vehicle is the second largest financial investment we make next to buying a home. Even though new vehicle retail prices come from the manufacturer, the price you will actually pay for that vehicle may vary by hundreds or thousands of dollars. Elements such as availability of stock, model clearances, rebates, trade-ins or how anxious a car salesperson maybe to sell, will contribute to the total price.
We can take the fear out of buying a car by doing research before we begin dealing with a car dealership. The more informed you are about different types of vehicles you need and want the more you will be able to get the right kind of vehicle at a good price.
Tip 1: Negotiating the price
Communicating with the salesperson is vital when you are negotiating a good price for the vehicle you really want. Dealerships are in business to sell cars, but they are also wanting to build long-term relationships with you so you will return over and over again. For instance, negotiating a zero interest finance with the dealership will higher your chances of getting the car you want at a great price.
Trust is vital, be honest about your needs and your budget. If this is communicated well you should have a good experience with purchasing your new vehicle. Always do your homework and stand your ground when negotiating.
Tip 2: Decide affordable monthly payment
You might like a high-end car but your budget may only allow you to purchase a small or compact car instead. Always factor in operating costs along with the monthly payments.
Tip 3: Make a online competitive comparison
You should compare 2 or 3 car brands within the same vehicle categories to find the right car. Some brands give more value for the price than others. But, the definition of ‘value’ does not mean the same for everyone.
Keeping your list of needs and wants in mind while you are checking the feature lists of one brand against another to find the value you are you’re looking for. Certain packages could offer more value by adding a feature you really want or need without extra charge.
Tip 4: Check Dealership Reviews
The reputation of a dealership, their location and hours of business are very important things to consider when you are choosing where to purchase your new vehicle. A lot of brands are available in huge quantities in large cities. However, smaller cities and towns have less inventory to choose from.
If you have a favourite dealership that does not have the exact vehicle you are looking for they should be able to find another dealership that can trade one of their cars for the one you want at another car dealership at no additional cost.
Tip 5: Ask for a test drive
You will know if you have found the right vehicle once you’ve driven it and had the salesperson give a demonstration showing the features of the car or truck. Make sure a salesperson show you the vehicle you have asked for. If you wanted to test drive a base model and they bring out a fully loaded vehicle for you to drive instead, you will not have a fair representation of the car you really want.
Tip 6: Consider what your needs are and lifestyle
• For seating, you may choose a bench, bucket, or split folding rear seat, how many passengers would you want such as 4, 5, or 7 passenger, leather or heated seats.
• Performance capabilities: Engine, towing, fuel mileage and transmission
• Safety features: Airbags and traction control
• Comfort: Cruise control, power windows and seats, outlets for charging devices
• Storage capacity: Cargo size