The first thing that you should know when you want to buy a new car is that both you and the dealer are looking to get the better end of the deal. If you don't learn anything else from this article you will learn how to walk away from the deal with both sides being satisfied. A good deal is a win-win situation for both parties.
Most of the time it is the buyer that leaves unsatisfied. If you are looking to buy a car you should begin with these tips. - You should purchase your new car at or around Christmas time because with everybody buying their Christmas gifts.
Car sales are down and it forces dealerships to up their sales strategies Salesmen are more willing to haggle down to your prices to close the deal. - You can also get a good deal from July to October because that is the time of year when dealerships are trying to get rid of their old inventory to make way for next years models. - Purchasing a car online is becoming very popular.
Watch for good rebates and incentives online and shop around. Print out your information from the best quotes and bring it to the dealer that you are most willing to work with. Bringing in lower quotes from another company might be your best bet in getting a good deal. Dealerships scam It's a good idea to bring a copy of your credit score to the dealership with you. It can lower your interest rates on your car loan.
Your car dealer should not know more about you than you do. You can avoid a common scam that dealerships pull. You will often hear that your financing fell through and that you have to respond by paying more money on your loan. Don't believe it. It's another reason for you to get a copy of your credit score.
Another common scam by dealership salesmen is for them to tell you that they have found you a lower rate, but that they want you to re-sign your loan papers. Usually, that is a downright lie. Once they pull up your financing information, they have the upper hand if you don't know the details about your credit information. You can get a copy of your credit information free online at Annual Credit Report. Don't bring in a car for trade in if you still owe money on it. The dealership rarely pays the rest of the loan on time which will result in you having to pay a great deal of late fees to the bank.
If you do decide to bring a car in that you owe money on, get it in writing from the dealership that they will pay the balance on the car within 10 days and/or they will pay the late fees if they fail to pay the car off in a timely manner. Sometimes a dealership may not have all of your options and must order the car directly from the dealer ship. If this happens they will often ask you to pay $500-$1000 for a deposit on the car. Try not to pay more than $500 and be sure to pay with a credit card. Sometimes the dealership will tell you that there was a price increase on the vehicle and will want more money.
If you pay with a credit card you have room to dispute the amount being taken from you. If you pay by check, you can just consider the money gone. You should never buy a car when you are in desperate need.
A dealer will see that and take advantage of your situation. You should never wait until an old car is dead before searching for a new car. Give yourself time to shop around for the right car and get the best deal possible. Desperation often clouds your judgment. Be prepared to walk away! If the salesman won't negotiate with you, walk away. Many times this will cause him to become more open to your offer.
Remember, there are many more places for you to buy. He is at the mercy of the people who drive onto his lot. He is more desperate for a sale than you are for a car. If you can't find a happy medium, just leave.
What You Should Never Do There are many things that you don't want to see a dealership do to you as a buyer, but there are some things that you should not do as well, if you don't want to alienate the dealer. Here is a list of "don'ts" that you should abide by if you are really looking to get a good deal. - Don't try to pull one over on the dealer by lying about the condition of your trade in vehicle. It is just a lie that you can't get away with, and could cause many cost increases later.
- Don't bother looking for a car if you have had a recent bankruptcy because you will not get approved anyway. - Don't give the dealership a deposit and then try to take it back for no reason. Make sure you have researched the car before making an offer.
You can also lose money on the return as they are sure to have a fee for this. - Don't bother lying about your debt load and credit rating. You know they have to check it anyway. - Don't offer any money for a car unless you already know the dealer cost because you are setting yourself up to get ripped off.
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